Document:

EX-10.2

 Exhibit 10.2 
 Execution Version 
 SECOND LIEN COLLATERAL AGREEMENT 

made by 
 CARMIKE
CINEMAS, INC. 
 and certain of its Subsidiaries 
 in favor of 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Collateral Trustee 
 Dated as of April 27, 2012 

 TABLE OF CONTENTS 

 

									
	 	 	 	 	 	  	Page	 
		
	 SECTION 1. DEFINED TERMS
	  	 	1	  
		 	 1.1.
	 	 Definitions
	  	 	1	  
		 	 1.2.
	 	 Other Definitional Provisions
	  	 	5	  
		
	 SECTION 2. INTENTIONALLY OMITTED
	  	 	5	  
		
	 SECTION 3. GRANT OF SECURITY INTEREST
	  	 	5	  
		
	 SECTION 4. REPRESENTATIONS AND WARRANTIES
	  	 	6	  
		 	 4.1.
	 	 [Intentionally Omitted]
	  	 	6	  
		 	 4.2.
	 	 Title; No Other Liens
	  	 	7	  
		 	 4.3.
	 	 Perfected Priority Liens
	  	 	7	  
		 	 4.4.
	 	 No Consent or Authorization
	  	 	7	  
		 	 4.5.
	 	 Jurisdiction of Organization; Chief Executive Office
	  	 	7	  
		 	 4.6.
	 	 Inventory and Equipment
	  	 	7	  
		 	 4.7.
	 	 Farm Products
	  	 	7	  
		 	 4.8.
	 	 Investment Property
	  	 	8	  
		 	 4.9.
	 	 Receivables
	  	 	8	  
		 	 4.10.
	 	 Contracts
	  	 	8	  
		 	 4.11.
	 	 Intellectual Property
	  	 	9	  
		 	 4.12.
	 	 Commercial Tort Claims
	  	 	9	  
		 	 4.13.
	 	 Deposit Accounts, Certificated Securities
	  	 	9	  
		 	 4.14.
	 	 Letter-of-Credit Rights
	  	 	10	  
		
	 SECTION 5. COVENANTS
	  	 	10	  
		 	 5.1.
	 	 Covenants in Indenture
	  	 	10	  
		 	 5.2.
	 	 Delivery of Instruments, Certificated Securities and Chattel Paper
	  	 	10	  
		 	 5.3.
	 	 Maintenance of Insurance
	  	 	10	  
		 	 5.4.
	 	 Payment of Obligations
	  	 	10	  
		 	 5.5.
	 	 Maintenance of Perfected Security Interest; Further Documentation
	  	 	11	  
		 	 5.6.
	 	 Changes in Name, etc
	  	 	11	  
		 	 5.7.
	 	 Notices
	  	 	11	  
		 	 5.8.
	 	 Investment Property
	  	 	11	  
		 	 5.9.
	 	 Contracts
	  	 	12	  
		 	 5.10.
	 	 Intellectual Property
	  	 	13	  
		
	 SECTION 6. REMEDIAL PROVISIONS
	  	 	14	  
		 	 6.1.
	 	 Certain Matters Relating to Receivables
	  	 	14	  
		 	 6.2.
	 	 Communications with Obligors; Grantors Remain Liable
	  	 	15	  
		 	 6.3.
	 	 Pledged Stock
	  	 	15	  
		 	 6.4.
	 	 Grant of Intellectual Property License
	  	 	16	  
		 	 6.5.
	 	 Proceeds to be Turned Over to Collateral Trustee
	  	 	17	  
		 	 6.6.
	 	 Application of Proceeds
	  	 	17	  
		 	 6.7.
	 	 Code and Other Remedies
	  	 	17	  

  
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	 	 	 	 	 	  	Page	 
				
		 	6.8.	 	 Registration Rights
	  	 	18	  
		 	6.9.	 	 Subordination
	  	 	19	  
		 	6.10.	 	 Deficiency
	  	 	19	  
		
	 SECTION 7. THE COLLATERAL TRUSTEE
	  	 	19	  
		 	7.1.	 	 Collateral Trustee’s Appointment as Attorney-in-Fact, etc
	  	 	19	  
		 	7.2.	 	 Duty of Collateral Trustee
	  	 	21	  
		 	7.3.	 	 Authority to File Financing Statements
	  	 	21	  
		 	7.4.	 	 Authority of Collateral Trustee
	  	 	21	  
		
	 SECTION 8. MISCELLANEOUS
	  	 	22	  
		 	8.1.	 	 Amendments in Writing
	  	 	22	  
		 	8.2.	 	 Notices
	  	 	22	  
		 	8.3.	 	 No Waiver by Course of Conduct; Cumulative Remedies
	  	 	22	  
		 	8.4.	 	 Enforcement Expenses; Indemnification
	  	 	22	  
		 	8.5.	 	 Successors and Assigns
	  	 	23	  
		 	8.6.	 	 Set-Off
	  	 	23	  
		 	8.7.	 	 Counterparts
	  	 	23	  
		 	8.8.	 	 Severability
	  	 	23	  
		 	8.9.	 	 Section Headings
	  	 	23	  
		 	8.10.	 	 Integration
	  	 	23	  
		 	8.11.	 	 GOVERNING LAW
	  	 	23	  
		 	8.12.	 	 Submission To Jurisdiction; Waivers
	  	 	23	  
		 	8.13.	 	 Acknowledgements
	  	 	24	  
		 	8.14.	 	 Additional Grantors
	  	 	24	  
		 	8.15.	 	 Releases
	  	 	24	  
		 	8.16.	 	 WAIVER OF JURY TRIAL
	  	 	25	  
		 	8.17.	 	 Collateral Trust Agreement
	  	 	25	  

  
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 SCHEDULES 
  

			
	Schedule 1	 	Notice Addresses
	Schedule 2	 	Investment Property
	Schedule 3	 	Perfection Matters
	Schedule 4	 	Jurisdictions of Organization and Chief Executive Offices
	Schedule 5	 	Inventory and Equipment Locations
	Schedule 6	 	Intellectual Property
	Schedule 7	 	Contracts
	Schedule 8	 	Existing Prior Liens
	Schedule 9	 	Deposit Accounts

 ANNEXES 
  

			
	Annex 1	 	Form of Assumption Agreement
	Annex 2	 	Form of Acknowledgement and Consent

  

  
 -iii-

 Exhibit 10.2 
 SECOND LIEN COLLATERAL AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), dated as of April 27, 2012, made by each of the
signatories hereto (together with any other entity that may become a party hereto as provided herein, the “Grantors”), in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee (in such capacity, the
“Collateral Trustee”) acting pursuant to this Agreement for the benefit of the Secured Parties. 
 W I T N E S S
E T H: 
 WHEREAS, reference is made to (a) that certain Indenture, dated as of the date hereof (as it may be amended,
restated, supplemented or otherwise modified from time to time, the “Indenture”), by and among Carmike Cinemas, Inc., a Delaware corporation (the “Company”), the subsidiaries of the Company party thereto, and Wells
Fargo Bank, National Association as trustee thereunder (the “Trustee”) and (b) that certain Collateral Trust Agreement, dated as of the date hereof (as it may be amended, restated, supplemented or otherwise modified from time
to time, the “Collateral Trust Agreement”), by and among the Company, the subsidiaries of the Company party thereto from time to time, the Trustee, Macquarie US Trading LLC as Administrative Agent, and the Collateral Trustee;

 WHEREAS, each Grantor has agreed to secure such Grantor’s obligations under the Indenture and any future Parity Lien
Debt Document (as defined in the Collateral Trust Agreement) as set forth herein; 
 NOW, THEREFORE, in consideration of the
premises and the agreements, provisions and covenants herein contained, each Grantor and the Collateral Trustee agree as follows: 
 SECTION 1. DEFINED TERMS 
 1.1. Definitions. (a) Unless otherwise
defined herein, terms defined in the Indenture and used herein shall have the meanings given to them in the Indenture, and the following terms are used herein as defined in the New York UCC (and if defined in more than one Article of the New York
UCC, shall have the meaning given in Article 9 thereof): Accounts, Certificated Security, Chattel Paper, Commercial Tort Claims, Documents, Equipment, Farm Products, General Intangibles, Instruments, Inventory, Letter-of-Credit Rights and Supporting
Obligations. The terms “Parity Lien Debt”, “Parity Lien Debt Documents”, “Parity Lien Debt Obligations”, “Parity Lien Debt Representative”, “Priority Lien Debt Obligations” and “Note
Documents” shall have the meanings given to them in the Collateral Trust Agreement. 
 (b) The following terms shall have
the following meanings: 
 “Act of Required Debtholders”: as to any matter at any time, a direction in writing
delivered to the Collateral Trustee by or with the written consent of the holders of Parity Lien Debt Obligations constituting Required Debtholders, accompanied (if requested by the Collateral Trustee) by an indemnity or security reasonably
satisfactory to the Collateral Trustee sufficient to protect it against any and all costs, losses, liabilities and expenses that may be incurred by it by reason of taking or continuing to take such direction. 

“Collateral”: as defined in Section 3. 
 “Collateral Account”: any collateral account established by the Collateral Trustee as provided in Sections 6.1 or 6.4. 

 “Contracts”: the contracts and agreements listed in Schedule 7, as
the same may be amended, supplemented or otherwise modified from time to time, including, without limitation, (i) all rights of any Grantor to receive moneys due and to become due to it thereunder or in connection therewith, (ii) all
rights of any Grantor to damages arising thereunder and (iii) all rights of any Grantor to perform and to exercise all remedies thereunder. 
 “Control”: (1) with respect to any Deposit Accounts, control within the meaning of Section 9-104 of the Uniform Commercial Code of the applicable jurisdiction; (2) with
respect to any Uncertificated Securities, control within the meaning of Section 8-106(c) of the Uniform Commercial Code of the applicable jurisdiction; (3) with respect to any Certificated Security, control within the meaning of
Section 8-106(a) or (b) of the Uniform Commercial Code of the applicable jurisdiction; and (4) with respect to any other Investment Property, control within the meaning of Section 9-106 of the Uniform Commercial Code of the
applicable jurisdiction. 
 “Copyrights”: (i) all copyrights and works of authorship arising under the
laws of the United States, any other country or any political subdivision thereof, whether registered or unregistered and whether published or unpublished, all registrations and recordings thereof, and all applications in connection therewith,
including, without limitation, all registrations, recordings and applications in the United States Copyright Office, including, without limitation, any of the foregoing referred to in Schedule 6, and (ii) the right to obtain all
renewals thereof. 
 “Copyright Licenses”: any written agreement naming any Grantor as licensor or licensee,
including, without limitation, those listed in Schedule 6, granting any right under any Copyright, including, without limitation, the grant of rights to manufacture, distribute, exploit and sell materials derived from any Copyright.

 “Default”: as defined in the Indenture. 

“Deposit Account”: as defined in the Uniform Commercial Code of any applicable jurisdiction and, in any event,
including, without limitation, any demand, time, savings, passbook or like account maintained with a depositary institution. 

“Event of Default”: as defined in the Indenture. 

“Foreign Subsidiary”: any Subsidiary organized under the laws of any jurisdiction outside the United States of
America. 
 “Foreign Subsidiary Voting Stock”: the voting Capital Stock of any Foreign Subsidiary. 

“Indenture Obligations”: the collective reference to the unpaid principal of and interest on the Notes and all other
obligations and liabilities of the Company (including, without limitation, interest accruing at the applicable rate provided in the Indenture after the maturity of the Notes and interest accruing at the applicable rate provided in the Indenture
after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Company, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the
Trustee or any Holder of Notes, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Indenture, this Agreement, the other Note
Documents or any other document made, delivered or given in connection with any of the foregoing, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without
limitation, all fees and disbursements of counsel to the Holder of Notes that are required to be paid by the Company pursuant to the terms of any of the foregoing agreements). 

  
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 “Intellectual Property”: the collective reference to all rights, priorities
and privileges relating to intellectual property, whether arising under United States, multinational or foreign laws or otherwise, including, without limitation, Copyrights, Copyright Licenses, Patents, Patent Licenses, Trademarks, Trademark
Licenses, Trade Secrets and Trade Secret Licenses, and all rights to sue at law or in equity for any past, present and future infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom. 

“Intercompany Note”: any promissory note evidencing loans made by any Grantor to the Company or any of its Subsidiaries.

 “Investment Property”: the collective reference to (i) all “investment property” as such term
is defined in Section 9-102(a)(49) of the New York UCC (other than any Foreign Subsidiary Voting Stock excluded from the definition of “Pledged Stock”) and (ii) whether or not constituting “investment property” as
so defined, all Pledged Notes and all Pledged Stock. 
 “Issuers”: the collective reference to each issuer of
any Investment Property. 
 “Material Adverse Effect”: a material adverse effect on (a) the business,
assets, property, financial condition or operations of the Company and its Subsidiaries taken as a whole or (b) the validity or enforceability of this Agreement or any of the other Note Documents or the rights or remedies of the Collateral
Trustee or the Holders of the Notes hereunder or thereunder 
 “New York UCC”: the Uniform Commercial Code, as
from time to time in effect in the State of New York. 
 “Obligations”: the collective reference to
(i) the Indenture Obligations, (ii) the obligations of the Company or other Grantors constituting other Parity Lien Debt Obligations and (iii) all other obligations and liabilities of the Company or other Grantors, whether direct or
indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with this Agreement (including, without limitation, all fees and disbursements of counsel to the Secured
Parties that are required to be paid by the Company or other Grantors pursuant to the terms of this Agreement). 

“Patents”: (i) all letters patent and certificates of invention of the United States and any other country or
any political subdivision thereof and all applications for any of the foregoing (and all inventions claimed therein and all improvements thereto) including, without limitation, any of the foregoing referred to in Schedule 6,
(ii) all reissues, divisions, continuations, continuations-in-part, extensions, renewals and reexaminations thereof and (iii) all rights to obtain any reissues or extensions of the foregoing. 

“Patent License”: all agreements, whether written or oral, providing for the grant by or to any Grantor of any right to
manufacture, use or sell any invention covered in whole or in part by a Patent, including, without limitation, any of the foregoing referred to in Schedule 6. 
 “Pledged Notes”: all promissory notes (if any) listed on Schedule 2, all Intercompany Notes at any time issued to any Grantor and all other promissory notes issued to or held by
any Grantor (other than promissory notes issued in connection with extensions of trade credit by any Grantor in the ordinary course of business). 

  
 3 

 “Pledged Stock”: the shares of Capital Stock listed on Schedule 2,
together with any other shares, stock certificates, options, interests or rights of any nature whatsoever in respect of the Capital Stock of any Person that may be issued or granted to, or held by, any Grantor while this Agreement is in effect;
provided that (i) in no event shall more than 66% of the total outstanding Foreign Subsidiary Voting Stock and 100% of the total outstanding non-voting Capital Stock of any Foreign Subsidiary be required to be pledged hereunder and
(ii) in no event shall the Company be required to pledge hereunder any shares of Capital Stock in SV Holdco, LLC or in any publicly traded corporation (other than any Subsidiary) where the value of such shares of such publicly traded
corporation does not exceed $10,000 and the value of all such shares for all such corporations does not exceed $50,000 in the aggregate. 
 “Proceeds”: all “proceeds” as such term is defined in Section 9-102(a)(64) of the New York UCC and, in any event, shall include, without limitation, all dividends or
other income from any Investment Property, collections thereon or distributions or payments with respect thereto. 

“Receivable”: any right to payment for goods sold or leased or for services rendered, whether or not such right is
evidenced by an Instrument or Chattel Paper and whether or not it has been earned by performance (including, without limitation, any Account). 
 “Registered Intellectual Property”: all registrations and applications for registration of Trademarks, Patents and Copyrights. 

“Required Debtholders”: at any time, holders of Parity Lien Debt Obligations owed or holding more than 50% of the
aggregate sum of, without duplication: (a) the aggregate outstanding principal amount of Parity Lien Debt (including the face amount of any outstanding letters of credit whether or not then available or undrawn) and (b) other than in
connection with an exercise of remedies, the aggregate unfunded commitments to extend credit that, when funded, would constitute Parity Lien Debt. For purposes of this definition, (A) votes will be determined in accordance with the provisions
of Section 7.2 of the Collateral Trust Agreement and (B) any Parity Lien Debt registered in the name of, or owned or held by the Company, any other Grantor or any of their respective Affiliates will be deemed not to be outstanding to the
extent known by the applicable Parity Lien Debt Representative or the Collateral Trustee. 
 “Secured Parties”:
the collective reference to the Holders of Notes, the Trustee, the Collateral Trustee, all future holders of Parity Lien Debt Obligations and each Parity Lien Debt Representative. 

“Securities Act”: the Securities Act of 1933, as amended. 

“Trademarks”: (i) all trademarks, trade names, corporate names, company names, business names, fictitious business
names, trade styles, trade dress, domain names, service marks, logos and other source or business identifiers, and all goodwill associated therewith, now existing or hereafter adopted or acquired, all registrations and recordings thereof, and all
applications in connection therewith, whether in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other country or any political subdivision thereof, or
otherwise, and all common-law rights related thereto, including, without limitation, any of the foregoing referred to in Schedule 6, and (ii) the right to obtain all renewals thereof. 

“Trademark License”: any agreement, whether written or oral, providing for the grant by or to any Grantor of any right
to use any Trademark, including, without limitation, any of the foregoing referred to in Schedule 6. 

  
 4 

 “Trade Secrets”: all trade secrets and all other confidential or
proprietary information and know-how whether or not the foregoing has been reduced to a writing or other tangible form, including all documents and things embodying, incorporating, or referring in any way to the foregoing. 

“Trade Secret Licenses”: any agreement, whether written or oral, providing for the grant by or to any Grantor of any
right in or to Trade Secrets. 
 “Uncertificated Securities”: all “uncertificated securities” as
defined in Article 8 of the Uniform Commercial Code of any applicable jurisdiction. 
 “Vehicles”: all cars,
trucks, tractors, trailers, vans, construction and earth moving equipment and other motor vehicles and automotive equipment covered by a certificate of title law of any state and all tires and other appurtenances to any of the foregoing. 

1.2. Other Definitional Provisions. (a) The words “hereof,” “herein”, “hereto” and
“hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section and Schedule references are to this Agreement unless otherwise
specified. 
 (b) The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms
of such terms. 
 (c) Where the context requires, terms relating to the Collateral or any part thereof, when used in relation to
a Grantor, shall refer to such Grantor’s Collateral or the relevant part thereof. 
 SECTION 2. INTENTIONALLY OMITTED

 SECTION 3. GRANT OF SECURITY INTEREST 
 Each Grantor hereby assigns and transfers to the Collateral Trustee, and hereby grants to the Collateral Trustee, for the ratable benefit of the Secured Parties, a security interest in all of the
following property now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest (collectively, the “Collateral”), as collateral
security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of such Grantor’s Obligations: 
 (a) all Accounts; 
 (b) all Chattel Paper; 

(c) all Contracts; 
 (d) all Deposit Accounts; 
 (e) all Documents (other than title documents with
respect to Vehicles); 
 (f) all Equipment (other than Vehicles); 

(g) all General Intangibles; 
 (h) all Instruments; 

  
 5 

 (i) all Intellectual Property; 

(j) all Inventory; 
 (k) all Investment Property; 
 (l) all Letter-of-Credit Rights; 

(m) all other personal property not otherwise described above (except for any property specifically excluded from any clause in this
section above, and any property specifically excluded from any defined term used in any clause of this section above); 
 (n)
all books and records pertaining to the Collateral; and 
 (o) to the extent not otherwise included, all Proceeds, Supporting
Obligations and products of any and all of the foregoing and all collateral security and guarantees given by any Person with respect to any of the foregoing; 
 provided, however, that notwithstanding any of the other provisions set forth in this Section 3, this Agreement shall not constitute a grant of a security interest in any property to
the extent that such grant of a security interest is prohibited by any Requirements of Law of a Governmental Authority, requires a consent not obtained of any Governmental Authority pursuant to such Requirement of Law, or is prohibited by, or
constitutes a breach or default under or results in the termination of or requires any consent not obtained under, the terms of any contract, license, lease, mortgage, deed to secure debt, deed of trust, security agreement or other agreement,
instrument or other document evidencing, giving rise to or encumbering such property or, in the case of any Investment Property, Pledged Stock or Pledged Note, any applicable shareholder or similar agreement, except to the extent that such
Requirement of Law or such terms in such contract, license, lease, mortgage, deed to secure debt, deed of trust, security agreement or other agreement, instrument or other document or shareholder or similar agreement providing for such prohibition,
breach, default or termination or requiring such consent is ineffective under applicable law. Further, notwithstanding anything herein to the contrary, in no event shall the Collateral include or the security interest granted in this Section 3
attach to (i) any interests of the Company in SV Holdco, LLC, or (ii) any “intent-to-use” application for registration of a Trademark filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, prior to the
filing of a “Statement of Use” pursuant to Section 1(d) of the Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, solely to the extent, if any, that, and solely
during the period, if any, in which, the grant of a security interest therein would impair the validity or enforceability of any registration that issues from such intent-to-use application under applicable federal law. 

SECTION 4. REPRESENTATIONS AND WARRANTIES 
 Each Grantor hereby represents and warrants to each Secured Party as of the date hereof that: 
 4.1. [Intentionally Omitted]. 

  
 6 

 4.2. Title; No Other Liens. Except for the security interest granted to the
Collateral Trustee for the ratable benefit of the Secured Parties pursuant to this Agreement and the other Liens permitted to exist on the Collateral by the Indenture and Liens which will be terminated as of the Closing Date, such Grantor owns each
item of the Collateral free and clear of any and all Liens or claims of others. No financing statement or other public notice with respect to all or any part of the Collateral is on file or of record in any public office, except such as have been
filed in favor of the Collateral Trustee, for the ratable benefit of the Secured Parties, pursuant to this Agreement or as are permitted by the Indenture, and financing statements, mortgages, deeds of trust, deeds to secure debt and other documents
and instruments filed of record that evidence Liens that are being terminated in accordance with the requirements of the Indenture. For the avoidance of doubt, it is understood and agreed that any Grantor may, as part of its business, grant licenses
to third parties to use Intellectual Property owned or developed by a Grantor. For purposes of this Agreement and the other Note Documents, such licensing activity shall not constitute a “Lien” on such Intellectual Property. The Collateral
Trustee and each of the Secured Parties acknowledges that any such licenses may be exclusive to the applicable licensees, and such exclusivity provisions may limit the ability of the Collateral Trustee to utilize, sell, lease or transfer the related
Intellectual Property pursuant hereto. 
 4.3. Perfected Priority Liens. (a) Upon completion of the filings and
other actions specified on Schedule 3 (which, in the case of all filings and other documents referred to on such Schedule, have been delivered to the Collateral Trustee in completed and duly executed form) and the payment of all
applicable fees, the security interests granted pursuant to this Agreement will constitute valid perfected security interests in favor of the Collateral Trustee, for the ratable benefit of the Secured Parties, in all Collateral in which a security
interest can be perfected by making such filings or taking such other actions described in Schedule 3, as collateral security for each Grantor’s Obligations, enforceable in accordance with the terms hereof against all creditors of such
Grantor and any Persons purporting to purchase any such Collateral from such Grantor and (b) are and will be prior to all other Liens on the Collateral in existence on the date hereof except (i) Liens on the Collateral securing the
Priority Lien Debt Obligations, (ii) unrecorded Liens permitted by the Indenture which have priority over Liens on the Collateral by operation of law and (iii) Liens permitted to exist on the Collateral pursuant to the Indenture.

 4.4. No Consent or Authorization. No consent, authorization, approval or other action by, and no notice to or filing
with, any Governmental Authority is required for either (i) the pledge or grant by any Grantor of the Liens in the Collateral in favor of the Collateral Trustee for the benefit of the Secured Parties hereunder or (ii) the exercise by the
Collateral Trustee of any rights or remedies in respect of any Collateral, except (A) for the filings specified on Schedule 3 and (B) as may be required, in connection with the disposition of any Investment Property, by laws
generally affecting the offering and sale of securities. 
 4.5. Jurisdiction of Organization; Chief Executive Office. On
the date hereof, such Grantor’s full legal name, type of organization, jurisdiction of organization, identification number from the jurisdiction of organization (if any), and the location of such Grantor’s chief executive office or sole
place of business or principal residence, as the case may be, are specified on Schedule 4. Such Grantor has furnished to the Collateral Trustee a certified charter, certificate of incorporation or other organization document and long-form
good standing certificate from its state of incorporation or other organization as of a date which is recent to the date hereof. 
 4.6. Inventory and Equipment. On the date hereof, the Inventory and the Equipment (other than mobile goods) are kept at the locations listed on Schedule 5. 

4.7. Farm Products. None of the Collateral constitutes, or is the Proceeds of, Farm Products. 

  
 7 

 4.8. Investment Property. (a) The shares of Pledged Stock described on
Schedule 2 pledged by such Grantor hereunder constitute (i) all of the issued and outstanding shares of all classes of the Capital Stock of each Issuer owned by such Grantor or (ii) in the case of any Foreign Subsidiary Capital
Stock owned by such Grantor, 66% of the outstanding Foreign Subsidiary Voting Stock and 100% of the total outstanding non-voting Capital Stock of each relevant Issuer. 
 (b) All of the shares of the Pledged Stock described on Schedule 2 have been duly and validly issued and are fully paid and non-assessable. 

(c) No consent of any Person including any other general or limited partner, any other member of a limited liability company, any other
shareholder or any other trust beneficiary is necessary in connection with the creation, perfection or priority status of the security interest of the Collateral Trustee in any Pledged Stock described on Schedule 2 or the exercise by the
Collateral Trustee of the voting or other rights provided for in this Agreement or the exercise of remedies in respect thereof except such as have been obtained. 
 (d) All of the Pledged Stock described on Schedule 2 constituting Capital Stock in a limited liability company or a partnership (if any) are not or do not represent interests that by their
terms provide that they are securities governed by the Uniform Commercial Code of the applicable jurisdiction. 
 (e) Each of
the Pledged Notes described on Schedule 2 constitutes the legal, valid and binding obligation of the obligor with respect thereto, enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and
fair dealing. 
 (f) Such Grantor is the record and beneficial owner of, and has good and marketable title to, the Investment
Property pledged by it hereunder, free of any and all Liens or options in favor of, or claims of, any other Person, except the security interest created by this Agreement or as otherwise provided in Section 4.3. 

4.9. Receivables. (a) No amount payable to such Grantor under or in connection with any Receivable is evidenced by any
Instrument or Chattel Paper which has not been delivered to the Collateral Trustee, to the extent required by Section 5.2. 

(b) None of the obligors on any Receivables in excess of $100,000 is a Governmental Authority. 

(c) The amounts represented by such Grantor to the Holders of Notes from time to time as owing to such Grantor in respect of the
Receivables will at such times be accurate in all material respects. 
 4.10. Contracts. (a) No consent of any party
(other than such Grantor) to any Contract (other than any such consent required to effectuate the assignment of such agreement to any third party or to the Collateral Trustee upon the exercise of the Collateral Trustee’s rights following an
Event of Default) is required, or purports to be required, in connection with the execution, delivery and performance of this Agreement, except as has been obtained or as set forth on Schedule 7. 

(b) Each Contract is in full force and effect as of the date hereof and constitutes a valid and legally enforceable obligation of the
parties thereto, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered
in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 

  
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 (c) No consent or authorization of, filing with or other act by or in respect of any
Governmental Authority is required in connection with the execution, delivery, performance, validity or enforceability of any of the Contracts by any party thereto, other than those which have been duly obtained, made or performed, are in full force
and effect and do not subject the scope of any such Contract to any material adverse limitation, either specific or general in nature. 
 (d) Neither such Grantor nor (to the best of such Grantor’s knowledge) any of the other parties to the Contracts is in default in any material respect in the performance or observance of any of the
terms thereof as of the date hereof. 
 (e) The right, title and interest of such Grantor in, to and under the Contracts are not
subject to any defenses, offsets, counterclaims or claims as of the date hereof. 
 (f) Such Grantor has delivered to the
Collateral Trustee a complete and correct copy of each Contract as in effect on the date hereof, including all amendments, supplements and other modifications thereto, except as set forth on Schedule 7. 

(g) No amount payable to such Grantor under or in connection with any Contract is evidenced by any Instrument or Chattel Paper which has
not been delivered to the Collateral Trustee, to the extent required by Section 5.2. 
 (h) None of the parties to any
Contract is a Governmental Authority. 
 4.11. Intellectual Property. (a) Schedule 6 lists all Registered
Intellectual Property owned by such Grantor in its own name on the date hereof, which is valid, subsisting and unexpired, and all registered Copyrights exclusively licensed to such Grantor as of the date hereof. 

(b) Except as set forth in Schedule 6, on the date hereof, none of the Intellectual Property owned or exclusively licensed by such
Grantor is the subject of any licensing or franchise agreement pursuant to which such Grantor is the licensor or franchisor. 

(c) As of the date hereof, no holding, decision or judgment has been rendered by any Governmental Authority which would limit, cancel or
question in any respect the validity, enforceability, ownership or use of, or such Grantor’s rights in, any Intellectual Property owned by it or, to such Grantor’s knowledge, any other Intellectual Property licensed or used by it, and such
Grantor knows of no valid basis for same, in any case that could reasonably be expected to have a Material Adverse Effect. 

4.12. Commercial Tort Claims. On the date hereof, no Grantor has rights in any Commercial Tort Claim with a reasonably estimated
value in excess of $250,000 in the aggregate for all Grantors. 
 4.13. Deposit Accounts, Certificated Securities.
Schedule 9 sets forth, as of the date hereof, the Company’s principal concentration deposit account(s), into which all funds contained in each deposit account maintained by it or any of its Subsidiaries for theater revenues are swept not
less frequently than once per week, and indicates the bank or intermediary at which such account is held and the account number. Each Grantor has taken all actions necessary, including without limitation those specified in Schedule 3 and
Section 5.2 to establish the Collateral Trustee’s Control, in form and substance reasonably satisfactory to the Collateral Trustee, over any portion of the Investment Property constituting Certificated 

  
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Securities and establish the Collateral Trustee’s Control, in form and substance reasonably satisfactory to the Collateral Trustee, over the Deposit Account described in the first sentence
of this Section 4.13 or any other principal concentration deposit account maintained by the Company. 
 4.14.
Letter-of-Credit Rights. On the date hereof, no Grantor has rights in any Letter-of-Credit Right with a value in excess of $250,000 in the aggregate for all Grantors. 
 SECTION 5. COVENANTS 
 Each Grantor covenants and agrees with the Collateral
Trustee and the Secured Parties that, from and after the date of this Agreement until the Obligations shall have been paid in full: 
 5.1. Covenants in Indenture. In the case of each Grantor which is a Guarantor, such Grantor shall take, or shall refrain from taking, as the case may be, each action that is necessary to be taken
or not taken, as the case may be, so that no Default or Event of Default is caused by the failure to take such action or to refrain from taking such action by such Grantor or any of its Subsidiaries. 

5.2. Delivery of Instruments, Certificated Securities and Chattel Paper. If any amount payable under or in connection with any of
the Collateral shall be or become evidenced by any Instrument, Certificated Security or Chattel Paper, such Instrument, Certificated Security or Chattel Paper shall be promptly delivered to the Collateral Trustee, duly indorsed in a manner
satisfactory to the Collateral Trustee, to be held as Collateral pursuant to this Agreement; provided that the Grantors shall not be obligated to deliver to the Collateral Trustee any Instruments or Chattel Paper held by any Grantor at any
time to the extent that the aggregate face amount of all such Instruments and Chattel Paper held by all Grantors at such time does not exceed $500,000. 
 5.3. Maintenance of Insurance. (a) Such Grantor will maintain, with financially sound and reputable companies, insurance policies (i) insuring the Inventory and Equipment against loss by
fire, explosion, theft and such other casualties as may be customarily maintained under similar circumstances by Persons of established reputation engaged in similar businesses and (ii) insuring such Grantor, the Collateral Trustee and the
Secured Parties against liability for personal injury and property damage relating to such Inventory and Equipment, such policies to be in such form and amounts (subject to reasonable self-insurance levels and deductibles) and having such coverage
as may be customarily maintained under similar circumstances by Persons of established reputation engaged in similar businesses. 
 (b) All such insurance shall (i) provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 30 days after receipt by the
Collateral Trustee of written notice thereof and (ii) name the Collateral Trustee as insured party or loss payee. 
 (c)
The Company shall deliver to the Collateral Trustee and each Parity Lien Debt Representative a report of a reputable insurance broker with respect to such insurance substantially concurrently with the delivery by the Company to the Collateral
Trustee of its audited financial statements for each fiscal year and such supplemental reports with respect thereto as the Collateral Trustee may from time to time reasonably request. 

5.4. Payment of Obligations. Such Grantor will pay and discharge or otherwise satisfy at or before maturity or before they become
delinquent, as the case may be, all taxes, assessments and governmental charges or levies imposed upon the Collateral or in respect of income or profits therefrom, 

  
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as well as all material claims of any kind (including, without limitation, claims for labor, materials and supplies) against or with respect to the Collateral, except that no such charge need be
paid if the amount or validity thereof is currently being contested in good faith by appropriate proceedings, reserves in conformity with GAAP with respect thereto have been provided on the books of such Grantor and such proceedings could not
reasonably be expected to result in the sale, forfeiture or loss of any material portion of the Collateral or any interest therein. 
 5.5. Maintenance of Perfected Security Interest; Further Documentation (a) Such Grantor shall maintain the security interest created by this Agreement as a perfected security interest having at
least the priority described in Section 4.3 and shall defend such security interest against the claims and demands of all Persons whomsoever, subject to the rights of such Grantor under the Note Documents to dispose of the Collateral.

 (b) Such Grantor will furnish to the Collateral Trustee and each Parity Lien Debt Representative from time to time statements
and schedules further identifying and describing the assets and property of such Grantor and such other reports in connection therewith as the Collateral Trustee may reasonably request, all in reasonable detail. 

(c) At any time and from time to time, and at the sole expense of such Grantor, such Grantor will promptly and duly execute and deliver,
and have recorded, such further instruments and documents and take such further actions as the Collateral Trustee or an Act of Required Debtholders may reasonably request in writing for the purpose of obtaining or preserving the full benefits of
this Agreement and of the rights and powers herein granted, including, without limitation, (1) the filing of any financing or continuation statements under the Uniform Commercial Code (or other similar laws) in effect in any appropriate
jurisdiction with respect to the security interests created hereby and (2) in the case of Investment Property in excess of $500,000 and any Deposit Account that constitutes such Grantor’s principal “concentration account,” taking
any actions necessary to enable the Collateral Trustee to obtain Control with respect thereto. 
 5.6. Changes in Name,
etc. Such Grantor will not, except upon 15 days’ prior written notice to the Collateral Trustee and delivery to the Collateral Trustee of all additional executed financing statements and other documents reasonably requested by the
Collateral Trustee to maintain the validity, perfection and priority of the security interests provided for herein: 
 (a)
change its jurisdiction of organization; or 
 (b) change its name, identity, corporate structure or chief executive office.

 5.7. Notices. Such Grantor will advise the Collateral Trustee and the Parity Lien Debt Representatives promptly, in
reasonable detail, of: 
 (a) any Lien (other than security interests created hereby or Liens permitted under the Indenture) on
any of the Collateral which would adversely affect the ability of the Collateral Trustee to exercise any of its remedies hereunder; and 
 (b) the occurrence of any other event which could reasonably be expected to have a material adverse effect on the aggregate value of the Collateral or on the security interests created hereby. 

5.8. Investment Property. (a) If such Grantor shall become entitled to receive or shall receive any certificate (including,
without limitation, any certificate representing a stock dividend or a distribution in connection with any reclassification, increase or reduction of capital or any certificate 

  
 11 

 
issued in connection with any reorganization), option or rights in respect of the Capital Stock of any Issuer, whether in addition to, in substitution of, as a conversion of, or in exchange for,
any shares of the Pledged Stock, or otherwise in respect thereof, such Grantor shall accept the same as the agent of the Collateral Trustee and the Secured Parties, hold the same in trust for the Collateral Trustee and the Secured Parties and
promptly deliver the same forthwith to the Collateral Trustee in the exact form received, duly indorsed by such Grantor to the Collateral Trustee, together with an undated transfer power covering such certificate duly executed in blank by such
Grantor and with signature guaranteed, to be held by the Collateral Trustee, subject to the terms hereof, as additional collateral security for the Obligations. Any sums paid upon or in respect of the Investment Property upon the liquidation or
dissolution of any Issuer shall be paid over to the Collateral Trustee to be held by it hereunder as additional collateral security for the Obligations, and in case any distribution of capital shall be made on or in respect of the Investment
Property or any property shall be distributed upon or with respect to the Investment Property pursuant to the recapitalization or reclassification of the capital of any Issuer or pursuant to the reorganization thereof, the property so distributed
shall, unless otherwise subject to a perfected security interest in favor of the Collateral Trustee, be delivered to the Collateral Trustee to be held by it hereunder as additional collateral security for the Obligations. If any sums of money or
property so paid or distributed in respect of the Investment Property shall be received by such Grantor, such Grantor shall, until such money or property is paid or delivered to the Collateral Trustee, hold such money or property in trust for the
Secured Parties, segregated from other funds of such Grantor, as additional collateral security for the Obligations. Notwithstanding the foregoing, the Grantors shall not be required to pay over to the Collateral Trustee or deliver to the Collateral
Trustee as Collateral any proceeds of any liquidation or dissolution of any Issuer, or any distribution of capital or property in respect of any Investment Property, to the extent that (i) such liquidation, dissolution, payment or distribution
is permitted by the Parity Lien Debt Documents and (ii) the proceeds thereof are used or applied in accordance with the terms of the Parity Lien Debt Documents including any prepayment required thereby. 

(b) Without the prior written consent of the Collateral Trustee, such Grantor will not (i) vote to enable, or take any other action
to permit, any Issuer to issue any Capital Stock of any nature or to issue any other securities convertible into or granting the right to purchase or exchange for any Capital Stock of any nature of any Issuer, (ii) sell, assign, transfer,
exchange, or otherwise dispose of, or grant any option with respect to, the Investment Property or Proceeds thereof (except pursuant to a transaction expressly permitted by the Parity Lien Debt Documents), (iii) create, incur or permit to exist
any Lien or option in favor of, or any claim of any Person with respect to, any of the Investment Property or Proceeds thereof, or any interest therein, except for the security interests created by this Agreement or (iv) enter into any
agreement or undertaking restricting the right or ability of such Grantor or the Collateral Trustee to sell, assign or transfer any of the Investment Property or Proceeds thereof, except in each case as permitted under the terms of the Parity Lien
Debt Documents. 
 (c) In the case of each Grantor which is an Issuer, such Issuer agrees that (i) it will be bound by the
terms of this Agreement relating to the Investment Property issued by it and will comply with such terms insofar as such terms are applicable to it, (ii) it will notify the Collateral Trustee promptly in writing of the occurrence of any of the
events described in Section 5.8(a) with respect to the Investment Property issued by it and (iii) the terms of Sections 6.3(d) and 6.7 shall apply to it, mutatis mutandis, with respect to all actions that may be required
of it pursuant to Sections 6.3(d) or 6.7 with respect to the Investment Property issued by it. 
 5.9. Contracts.
(a) Such Grantor will perform and comply with all its obligations under the Contracts, where failure to so perform and comply would reasonably be expected to have a Material Adverse Effect. 

  
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 (b) Such Grantor will not amend, modify, terminate or waive any provision of any Contract in
any manner which could reasonably be expected to materially adversely affect the value of such Contract as Collateral. 
 (c)
Such Grantor will use commercially reasonable efforts to cause the other party to perform its material obligations under each such Contract (other than any right of termination). 

(d) Such Grantor will promptly deliver to the Collateral Trustee a copy of each material demand, notice or document received by it
relating in any way to any Contract that questions the validity or enforceability of such Contract. 
 5.10. Intellectual
Property. (a) Such Grantor (either itself or through licensees) will (i) continue to use each Trademark on each and every trademark class of goods and services applicable to its current business in order to maintain such Trademark in
full force free from any claim of abandonment for non-use, (ii) maintain as in the past the quality of products and services offered under such Trademark, (iii) use such Trademark with the appropriate notice of registration and all other
notices and legends required by applicable Requirements of Law, (iv) not adopt or use any mark which is confusingly similar or a colorable imitation of such Trademark unless the Collateral Trustee, for the ratable benefit of the Secured
Parties, shall obtain a perfected security interest in such mark pursuant to this Agreement, and (v) not (and not permit any licensee or sublicensee thereof to) do any act or knowingly omit to do any act whereby such Trademark may become
invalidated or impaired in any way, except in any such case where the failure to comply with any of the foregoing clauses (i) through (v) would not reasonably be expected to have a Material Adverse Effect. 

(b) Such Grantor (either itself or through licensees) will not do any act, or omit to do any act, whereby any Patent may become
forfeited, abandoned or dedicated to the public, except in any such case where the failure to comply with the foregoing would not reasonably be expected to have a Material Adverse Effect. 

(c) Such Grantor (either itself or through licensees) will not (and will not permit any licensee or sublicensee thereof to) do any act or
knowingly omit to do any act whereby (i) any Copyrights may become invalidated or otherwise impaired, or (ii) any Copyright may fall into the public domain, except in any such case where the failure to comply with any of the foregoing
clauses (i) or (ii) would not reasonably be expected to have a Material Adverse Effect. 
 (d) Such Grantor will not
infringe the intellectual property rights of any other Person, except in any such case where the failure to comply with the foregoing would not reasonably be expected to have a Material Adverse Effect. 

(e) Such Grantor will notify the Collateral Trustee and the Parity Lien Debt Representatives in writing promptly if it knows, or has
reason to know, that any application or registration relating to any Intellectual Property having material economic value may become forfeited, abandoned or dedicated to the public, or of any adverse determination or development (including, without
limitation, the institution of, or any such determination or development in, any proceeding in the United States Patent and Trademark Office, the United States Copyright Office or any similar office, court or tribunal in any country)
regarding such Grantor’s rights in, or the validity, enforceability, ownership or use of, any Intellectual Property having material economic value, including such Grantor’s right to register the same or to own and maintain the same.

 (f) Whenever such Grantor, either by itself or through any agent, employee, licensee or designee, shall (i) acquire,
become the exclusive licensee of, or file an application for the registration 

  
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of any Intellectual Property with the United States Patent and Trademark Office, the United States Copyright Office or any similar office or agency in any other country or any political
subdivision thereof, or (ii) file a statement of use or amendment to allege use with respect to any intent-to-use Trademark application, such Grantor shall report any filing in respect thereof to the Collateral Trustee within 90 days after the
end of each fiscal year of the Company and 45 days after the end of each of the first three quarterly periods of each fiscal year of the Company. 
 (g) Such Grantor shall execute and deliver, and have recorded, any and all agreements, instruments, documents, and papers as necessary to evidence the Collateral Trustee’s security interest in any
Copyright, Patent or Trademark applications, registrations and exclusive inbound licenses, and the goodwill and general intangibles of such Grantor relating thereto or represented thereby. 

(h) Such Grantor will take all reasonable and necessary steps, including, without limitation, in any proceeding before the
United States Patent and Trademark Office, the United States Copyright Office or any similar office or agency in any other country or any political subdivision thereof, to maintain and pursue each application (and to obtain the relevant
registration) and to maintain each registration of the Intellectual Property having material economic value, including, without limitation, filing of applications for renewal, affidavits of use and affidavits of incontestability. 

(i) If any Grantor has knowledge that any Intellectual Property having material economic value is infringed, misappropriated or diluted
by a third party, such Grantor shall (i) take such actions as such Grantor shall reasonably deem appropriate under the circumstances to protect such Intellectual Property and (ii) promptly notify the Collateral Trustee after it learns
thereof and sue for infringement, misappropriation or dilution, to seek injunctive relief where appropriate and to recover any and all damages for such infringement, misappropriation or dilution. 

SECTION 6. REMEDIAL PROVISIONS 
 6.1. Certain Matters Relating to Receivables. (a) The Collateral Trustee shall have the right, at any time after the occurrence and during the continuance of an Event of Default, to make test
verifications of the Receivables in any manner and through any medium that it reasonably considers advisable, and each Grantor shall furnish all such assistance and information as the Collateral Trustee may require in connection with such test
verifications. At any time and from time to time, at any time after the occurrence and during the continuance of an Event of Default, upon the Collateral Trustee’s request (acting upon the written direction of the Parity Lien Debt
Representative and/or the Secured Parties) and at the expense of the relevant Grantor, such Grantor shall cause independent public accountants or others satisfactory to the Collateral Trustee to furnish to the Collateral Trustee reports showing
reconciliations, aging and test verifications of, and trial balances for, the Receivables. 
 (b) After the occurrence and
during the continuance of an Event of Default, each Grantor shall collect such Grantor’s Receivables, subject to the Collateral Trustee’s direction and control, and the Collateral Trustee shall (acting upon the written direction of the
Parity Lien Debt Representative and/or the Secured Parties) curtail or terminate said authority at any time. After the occurrence and during the continuance of an Event of Default, any payments of Receivables, when collected by any Grantor,
(i) shall, not later than 10 calendar days after the occurrence of such Event of Default, be deposited by such Grantor in the exact form received, duly indorsed by such Grantor to the Collateral Trustee if required, in a Collateral Account
maintained under the sole dominion and control of the Collateral Trustee, subject to withdrawal by the Collateral Trustee for the account of the Secured Parties only as provided in Section 6.7, and (ii) until so turned over, shall be held
by such Grantor in trust for the Collateral Trustee and the Secured Parties, segregated from other funds of such Grantor. Each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail the nature and
source of the payments included in the deposit. 

  
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 (c) At any time after the occurrence and during the continuance of an Event of Default, at
the Collateral Trustee’s request (acting upon the written direction of the Parity Lien Debt Representative and/or the Secured Parties), each Grantor shall deliver to the Collateral Trustee all original and other documents evidencing, and
relating to, the agreements and transactions which gave rise to the Receivables, including, without limitation, all original orders, invoices and shipping receipts. 
 6.2. Communications with Obligors; Grantors Remain Liable. (a) The Collateral Trustee in its own name or in the name of others may at any time after the occurrence and during the continuance
of an Event of Default communicate with obligors under the Receivables and parties to the Contracts to verify with them to the Collateral Trustee’s satisfaction the existence, amount and terms of any Receivables or Contracts. 

(b) Upon request by the Collateral Trustee (acting upon the written direction of the Parity Lien Debt Representative and/or the Secured
Parties), at any time after the occurrence and during the continuance of an Event of Default, each Grantor shall notify obligors on the Receivables and parties to the Contracts that the Receivables and the Contracts have been assigned as collateral
to the Collateral Trustee for the ratable benefit of the Secured Parties and that payments in respect thereof shall be made directly to the Collateral Trustee. 
 (c) Anything herein to the contrary notwithstanding, each Grantor shall remain liable under each of the Receivables and Contracts to observe and perform all the conditions and obligations to be observed
and performed by it thereunder, all in accordance with the terms of any agreement giving rise thereto. No Secured Party shall have any obligation or liability under any Receivable (or any agreement giving rise thereto) or Contract by reason of or
arising out of this Agreement or the receipt by any Secured Party of any payment relating thereto, nor shall any Secured Party be obligated in any manner to perform any of the obligations of any Grantor under or pursuant to any Receivable (or any
agreement giving rise thereto) or Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party thereunder, to present or file any claim,
to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times. 
 6.3. Pledged Stock. (a) Unless an Event of Default shall have occurred and be continuing and the Collateral Trustee shall (acting upon the written direction of the Parity Lien Debt
Representative and/or the Secured Parties) have given notice to the Company that the rights of the Grantors under this Section 6.3(a) are being suspended, each Grantor shall be permitted to receive all cash dividends paid in respect of the
Pledged Stock and all payments made in respect of the Pledged Notes, in each case paid in the normal course of business of the relevant Issuer and consistent with past practice, to the extent permitted in the Parity Lien Debt Documents, and to
exercise all voting and corporate or other organizational rights with respect to the Investment Property; provided, however, that no vote shall be cast or corporate or other organizational right exercised or other action taken which,
in the Collateral Trustee’s reasonable judgment, would impair the Collateral or which would be inconsistent with or result in any violation of any provision of the Indenture, this Agreement or any other Parity Lien Debt Document. 

(b) Upon the occurrence and during the continuance of an Event of Default, after the Collateral Trustee shall have notified the Company
of the suspension of the rights of the Grantors under Section 6.3(a) above, then all rights of any Grantor to dividends, interest, principal or other distributions 

  
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that such Grantor is authorized to receive and all rights of any Grantor to exercise the voting and consensual rights and powers it is entitled to exercise, in each case pursuant
Section 6.3(a) shall cease, and all such rights shall thereupon become vested in the Collateral Trustee, including, without limitation, (i) the Collateral Trustee shall have the sole and exclusive right and authority to receive any and all
dividends, payments or other Proceeds paid in respect of the Investment Property and make application thereof to the Obligations in the order set forth in Section 6.7, and (ii) at the election of the Collateral Trustee any or all of the
Investment Property shall be registered in the name of the Collateral Trustee or its nominee, and (iii) the Collateral Trustee or its nominee shall have the sole and exclusive right and power to exercise (1) all voting, corporate and other
rights pertaining to such Investment Property at any meeting of shareholders, members or partners of the relevant Issuer or Issuers or otherwise and (2) any and all rights of conversion, exchange and subscription and any other rights,
privileges or options pertaining to such Investment Property as if it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of the Investment Property upon the merger, consolidation,
reorganization, recapitalization or other fundamental change in the corporate or other organizational structure of any Issuer, or upon the exercise by any Grantor or the Collateral Trustee of any right, privilege or option pertaining to such
Investment Property, and in connection therewith, the right to deposit and deliver any and all of the Investment Property with any committee, depositary, transfer agent, registrar or other designated agency upon such terms and conditions as the
Collateral Trustee may determine), all without liability except to account for property actually received by it, but the Collateral Trustee shall have no duty to any Grantor to exercise any such right, privilege or option and shall not be
responsible for any failure to do so or delay in so doing. 
 (c) In order to permit the Collateral Trustee to exercise the
voting and other consensual rights that it may be entitled to exercise pursuant hereto and to receive all dividends and other distributions that it may be entitled to receive hereunder, in each case after the occurrence and during the continuation
of an Event of Default, (i) each Grantor shall promptly execute and deliver (or cause to be executed and delivered) to the Collateral Trustee all such proxies, dividend payment orders and other instruments as the Collateral Trustee may from
time to time reasonably request (acting upon the written direction of the Parity Lien Debt Representative and/or the Secured Parties) and (ii) without limiting the effect of clause (i) above, such Grantor hereby grants to the Collateral
Trustee an irrevocable proxy to vote all or any part of the Investment Property and to exercise all other rights, powers, privileges and remedies to which a holder of the Investment Property would be entitled (including giving or withholding written
consents of shareholders, partners or members, as the case may be, calling special meetings of shareholders, partners or members, as the case may be, and voting at such meetings), which proxy shall be effective, automatically and without the
necessity of any action (including any transfer of any Investment Property on the record books of the Issuer thereof) by any other Person (including the Issuer of such Investment Property or any officer, manager or agent thereof) during the
continuance of an Event of Default and which proxy shall only terminate upon the payment in full of the Obligations. 
 (d) Each
Grantor hereby authorizes and instructs each Issuer of any Investment Property pledged by such Grantor hereunder to (i) comply with any instruction received by it from the Collateral Trustee in writing that (1) states that an Event of
Default has occurred and is continuing and (2) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from such Grantor, and each Grantor agrees that each Issuer shall be fully protected in so
complying, and (ii) unless otherwise expressly permitted hereby, pay any dividends or other payments with respect to the Investment Property directly to the Collateral Trustee. 

6.4. Grant of Intellectual Property License. For the purpose of enabling the Collateral Trustee, during the continuance of an
Event of Default, to exercise rights and remedies under Section 6 hereof at such time as the Collateral Trustee shall be lawfully entitled to exercise such rights and remedies, and for no other purpose, each Grantor hereby grants to the
Collateral Trustee, to the extent assignable, an 

  
 16 

 
irrevocable, non-exclusive license (exercisable without payment of royalty or other compensation to such Grantor), subject, in the case of Trademarks, to sufficient rights to quality control and
inspection in favor of such Grantor to avoid the risk of invalidation of such Trademarks, to use, assign, license or sublicense any of the Intellectual Property now owned or hereafter acquired, developed or created by such Grantor, wherever the same
may be located. Such license shall include access to all media in which any of the licensed items may be recorded or stored and to all computer programs used for the compilation or printout hereof. 

6.5. Proceeds to be Turned Over to Collateral Trustee. In addition to the rights of the Collateral Trustee and the Secured Parties
specified in Section 6.1 with respect to payments of Receivables, if an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, checks, other near cash items and other Instruments shall be held
by such Grantor in trust for the Collateral Trustee and the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such Grantor, be promptly turned over to the Collateral Trustee in the exact form received
by such Grantor (duly indorsed by such Grantor to the Collateral Trustee, if required). All Proceeds received by the Collateral Trustee hereunder shall be held by the Collateral Trustee in a Collateral Account maintained under its sole dominion and
control. All Proceeds while held by the Collateral Trustee in a Collateral Account (or by such Grantor in trust for the Collateral Trustee and the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall
not constitute payment thereof until applied as provided in Section 6.7. 
 6.6. Application of Proceeds. At such
intervals as may be agreed upon by the Company and the Collateral Trustee, or, if an Event of Default shall have occurred and be continuing, at any time at the Collateral Trustee’s election, the Collateral Trustee may apply all or any part of
Proceeds constituting Collateral, whether or not held in any Collateral Account, and any proceeds of the guarantee set forth in Section 2, in payment of the Obligations in the following order: 

First, to pay incurred and unpaid fees and expenses of the Collateral Trustee and the Parity Lien Debt
Representatives under the Parity Lien Debt Documents; 
 Second, to the Collateral Trustee, for
application by it towards payment of amounts then due and owing and remaining unpaid in respect of the Obligations, pro rata among the Secured Parties according to the amounts of the Obligations then due and owing and remaining unpaid
to the Secured Parties; 
 Third, to the Collateral Trustee, for application by it towards prepayment of
the Obligations, pro rata among the Secured Parties according to the amounts of the Obligations then held by the Secured Parties; and 
 Fourth, any balance of such Proceeds remaining after the Obligations shall have been paid in full. 
 6.7. Code and Other Remedies. If an Event of Default shall occur and be continuing, the Collateral Trustee, on behalf of the Secured Parties, may exercise, in addition to all other rights and
remedies granted to them in this Agreement and in any other instrument or agreement securing, evidencing or relating to the Obligations, all rights and remedies of a secured party under the New York UCC or any other applicable law. Without
limiting the generality of the foregoing, the Collateral Trustee, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice required by law referred to below) to or upon any Grantor
or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof,

  
 17 

 
and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in
one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Collateral Trustee or any Secured Party or elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may
deem best, for cash or on credit or for future delivery without assumption of any credit risk. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the Collateral so sold may be retained by the Collateral
Trustee until the sale price is paid by the purchaser(s) thereof, but the Collateral Trustee shall not incur any liability in case any such purchaser(s) shall fail to take up and pay for the Collateral so sold and, in case of any such failure, such
Collateral may be sold again upon like notice. Any Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral
so sold, free of any right or equity of redemption, stay, valuation or appraisal on the part of any Grantor, which right or equity is hereby waived and released. Each Grantor hereby waives, to the extent permitted by law, any claims against the
Collateral Trustee or any Secured Party arising by reason of the fact that the price at which any Collateral may have been sold at a private sale was less than the price which might have been obtained at a public sale, even if the Collateral Trustee
accepts the first offer received and does not offer such Collateral to more than one offeree; provided that the foregoing waiver shall not affect the obligations of the parties to exercise remedies under this Agreement in a commercially
reasonable manner in accordance with applicable law. Each Grantor further agrees, at the Collateral Trustee’s request and at such Grantor’s expense, (i) to assemble the Collateral and make it available to the Collateral Trustee at
places which the Collateral Trustee shall reasonably select, whether at such Grantor’s premises or elsewhere and (ii) to permit the Collateral Trustee to occupy any premises owned or, to the extent lawful and permitted, leased by any of
the Grantors where the Collateral or any part thereof is assembled or located for a reasonable period in order to effectuate its rights and remedies hereunder or under law, without obligation to such Grantor in respect of such occupation;
(iii) prior to the disposition of the Collateral, the Collateral Trustee shall have the right to store, process, repair or recondition the Collateral or otherwise prepare the Collateral for disposition in any manner to the extent the Collateral
Trustee deems appropriate. The Collateral Trustee shall apply the net proceeds of any action taken by it pursuant to this Section 6.7, after deducting all reasonable costs and expenses of every kind incurred in connection therewith or
incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Collateral Trustee and the Secured Parties hereunder, including, without limitation, reasonable attorneys’ fees and
disbursements, to the payment in whole or in part of the Obligations, in accordance with Section 6.6, and only after such application and after the payment by the Collateral Trustee of any other amount required by any provision of law,
including, without limitation, Section 9-615(a)(3) of the New York UCC, need the Collateral Trustee account for the surplus, if any, to any Grantor. To the extent permitted by applicable law, each Grantor waives all claims, damages and
demands it may acquire against the Collateral Trustee or any Secured Party arising out of the exercise by them of any rights hereunder. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall
be deemed reasonable and proper if given at least 10 days before a public sale or the time after which any private sale is to be made. The Collateral Trustee shall not be obligated to make any sale of any Collateral regardless of notice of sale
having been given. The Collateral Trustee may adjourn any public or private sale from time to time by announcement at the time and place fixed therefore, and such Sale may, without further notice, be made at the time and place to which it was so
adjourned. The Collateral Trustee shall have no obligation to marshal any of the Collateral. 
 6.8. Registration Rights.
(a) If the Collateral Trustee shall determine to exercise its right to sell any or all of the Pledged Stock pursuant to Section 6.7, and if in the opinion of the Collateral Trustee it is necessary or advisable to have the Pledged Stock, or
that portion thereof to be sold, registered under the provisions of the Securities Act, the relevant Grantor will cause the Issuer thereof to (i) execute and deliver, and cause the directors and officers of such Issuer to execute and deliver,
all such instruments and 

  
 18 

 
documents, and do or cause to be done all such other acts as may be, in the opinion of the Collateral Trustee, necessary or advisable to register the Pledged Stock, or that portion thereof to be
sold, under the provisions of the Securities Act, (ii) use its best efforts to cause the registration statement relating thereto to become effective and to remain effective for a period of one year from the date of the first public offering of
the Pledged Stock, or that portion thereof to be sold, and (iii) make all amendments thereto and/or to the related prospectus which, in the opinion of the Collateral Trustee, are necessary or advisable, all in conformity with the requirements
of the Securities Act and the rules and regulations of the Securities and Exchange Commission applicable thereto. Each Grantor agrees to cause such Issuer to comply with the provisions of the securities or “Blue Sky” laws of any and all
applicable jurisdictions and to make available to its security holders, as soon as practicable, an earnings statement (which need not be audited) which will satisfy the provisions of Section 11(a) of the Securities Act. 

(b) Each Grantor recognizes that the Collateral Trustee may be unable to effect a public sale of any or all the Pledged Stock, by reason
of certain prohibitions contained in the Securities Act and applicable state securities laws or otherwise, and may be compelled to resort to one or more private sales thereof to a restricted group of purchasers which will be obliged to agree, among
other things, to acquire such securities for their own account for investment and not with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees that any such private sale may result in prices and other terms less
favorable than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner. The Collateral Trustee shall be under no obligation to
delay a sale of any of the Pledged Stock for the period of time necessary to permit the Issuer thereof to register such securities for public sale under the Securities Act, or under applicable state securities laws, even if such Issuer would agree
to do so. 
 (c) Each Grantor agrees to use its best efforts to do or cause to be done all such other acts as may be necessary
to make such sale or sales of all or any portion of the Pledged Stock pursuant to this Section 6.8 valid and binding and in compliance with any and all other applicable Requirements of Law. Each Grantor further agrees that a breach of any of
the covenants contained in this Section 6.9 will cause irreparable injury to the Secured Parties, that the Secured Parties have no adequate remedy at law in respect of such breach and, as a consequence, that each and every covenant contained in
this Section 6.8 shall be specifically enforceable against such Grantor, and such Grantor hereby waives and agrees not to assert any defenses against an action for specific performance of such covenants except for a defense that no Event of
Default has occurred under the Indenture. 
 6.9. Subordination. Each Grantor hereby agrees that, upon the occurrence and
during the continuance of an Event of Default, unless otherwise agreed by the Collateral Trustee, all Indebtedness owing by it to any Subsidiary of the Company shall be fully subordinated to the indefeasible payment in full in cash of such
Grantor’s Obligations. 
 6.10. Deficiency. Each Grantor shall remain liable for any deficiency if the proceeds of
any sale or other disposition of the Collateral are insufficient to pay its Obligations and the fees and disbursements of any attorneys employed by the Collateral Trustee or any Secured Party to collect such deficiency. 

SECTION 7. THE COLLATERAL TRUSTEE 
 7.1. Collateral Trustee’s Appointment as Attorney-in-Fact, etc. (a) Each Grantor hereby irrevocably constitutes and appoints the Collateral Trustee and any officer or agent thereof, with full
power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose

  
 19 

 
of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the
purposes of this Agreement, and, without limiting the generality of the foregoing, each Grantor hereby gives the Collateral Trustee the power and right, on behalf of such Grantor, without notice to or assent by such Grantor, to do any or all of the
following: 
  

	 	(i)	in the name of such Grantor or its own name, or otherwise, take possession of and indorse and collect any checks, drafts, notes, acceptances or other instruments for
the payment of moneys due under any Receivable or Contract or with respect to any other Collateral and file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by the Collateral Trustee for
the purpose of collecting any and all such moneys due under any Receivable or Contract or with respect to any other Collateral whenever payable; 

  

	 	(ii)	in the case of any Intellectual Property, execute and deliver, and have recorded, any and all agreements, instruments, documents and papers as the Collateral Trustee
may request to evidence the Collateral Trustee’s security interest in such Intellectual Property and the goodwill and general intangibles of such Grantor relating thereto or represented thereby; 

 

	 	(iii)	pay or discharge taxes and Liens levied or placed on or threatened against the Collateral, effect any repairs or any insurance called for by the terms of this Agreement
and pay all or any part of the premiums therefor and the costs thereof; 

  

	 	(iv)	execute, in connection with any sale provided for in Sections 6.8 or 6.9, any indorsements, assignments or other instruments of conveyance or transfer with respect
to the Collateral; and 

  

	 	(v)	 (1) direct any party liable for any payment under any of the Collateral to make payment of any and all moneys due or to become due thereunder directly
to the Collateral Trustee or as the Collateral Trustee shall direct; (2) ask or demand for, collect, and receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising
out of any Collateral; (3) sign and indorse any invoices, freight or express bills, bills of lading, storage or warehouse receipts, drafts against debtors, assignments, verifications, notices and other documents in connection with any of the
Collateral; (4) commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect the Collateral or any portion thereof and to enforce any other right in respect of any Collateral;
(5) defend any suit, action or proceeding brought against such Grantor with respect to any Collateral; (6) settle, compromise or adjust any such suit, action or proceeding and, in connection therewith, give such discharges or releases as
the Collateral Trustee may deem appropriate; (7) assign any Copyright, Patent or Trademark (along with the goodwill of the business to which any such Copyright, Patent or Trademark pertains), throughout the world for such term or terms, on such
conditions, and in such manner, as the Collateral Trustee shall in its sole discretion determine; and (8) generally, sell, transfer, pledge and make any agreement with respect to or otherwise deal with any of the Collateral as fully and
completely as though the Collateral Trustee were the absolute owner thereof for 

  
 20 

	 	
all purposes, and do, at the Collateral Trustee’s option and such Grantor’s expense, at any time, or from time to time, all acts and things which the Collateral Trustee deems necessary
to protect, preserve or realize upon the Collateral and the Collateral Trustee’s and the Secured Parties’ security interests therein and to effect the intent of this Agreement, all as fully and effectively as such Grantor might do.

 Anything in this Section 7.1(a) to the contrary notwithstanding, the Collateral Trustee agrees that it
will not exercise any rights under the power of attorney provided for in this Section 7.1(a) unless an Event of Default shall have occurred and be continuing. 
 (b) If any Grantor fails to perform or comply with any of its agreements contained herein, the Collateral Trustee, at its option, but without any obligation so to do, may perform or comply, or otherwise
cause performance or compliance, with such agreement. 
 (c) The expenses of the Collateral Trustee incurred in connection with
actions undertaken as provided in this Section 7.1 (including attorney’s fees and expenses), together with interest thereon at a rate per annum equal to the rate per annum at which interest would then be payable on any past due Notes under
the Indenture, from the date of payment by the Collateral Trustee to the date reimbursed by the relevant Grantor, shall be payable by such Grantor to the Collateral Trustee on demand. 

(d) Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. All powers,
authorizations and agencies contained in this Agreement are coupled with an interest and are irrevocable until this Agreement is terminated and the security interests created hereby are released. 

7.2. Duty of Collateral Trustee. The Collateral Trustee’s sole duty with respect to the custody,
safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the New York UCC or otherwise, shall be to deal with it in the same manner as the Collateral Trustee deals with similar property for its own
account. Neither the Collateral Trustee, any Secured Party nor any of their respective officers, directors, employees or agents shall be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or
shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of any Grantor or any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. The powers conferred on the
Collateral Trustee and the Secured Parties hereunder are solely to protect the Collateral Trustee’s and the Secured Parties’ interests in the Collateral and shall not impose any duty upon the Collateral Trustee or any Secured Party to
exercise any such powers. The Collateral Trustee and the Secured Parties shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or
agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. 
 7.3. Authority to File Financing Statements. Pursuant to any applicable law, each Grantor authorizes the Collateral Trustee to file or record financing statements and other filing or recording
documents or instruments with respect to the Collateral without the signature of such Grantor in such form and in such offices as the Collateral Trustee determines appropriate to perfect the security interests of the Collateral Trustee under this
Agreement. Each Grantor authorizes the Collateral Trustee to use the collateral description “all personal property” or words of similar effect in any such financing statements. Each Grantor hereby ratifies and authorizes the filing by the
Collateral Trustee of any financing statement with respect to the Collateral made prior to the date hereof. 
 7.4. Authority
of Collateral Trustee. Each Grantor acknowledges that the rights, protections, immunities and responsibilities of the Collateral Trustee under this Agreement with respect to any action 

  
 21 

 
taken by the Collateral Trustee or the exercise or non-exercise by the Collateral Trustee of any option, voting right, request, judgment or other right or remedy provided for herein or resulting
or arising out of this Agreement shall, as between the Collateral Trustee and the Secured Parties, be governed by the Collateral Trust Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as
between the Collateral Trustee and the Grantors, the Collateral Trustee shall be conclusively presumed to be acting as agent for the Secured Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be under any
obligation, or entitlement, to make any inquiry respecting such authority. 
 SECTION 8. MISCELLANEOUS 

8.1. Amendments in Writing. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise
modified except in accordance with Section 7.1 of the Collateral Trust Agreement. 
 8.2. Notices. All notices,
requests and demands to or upon the Collateral Trustee or any Grantor hereunder shall be effected in the manner provided for in Section 7.8 of the Collateral Trust Agreement; provided that any such notice, request or demand to or upon
any Grantor shall be addressed to such Grantor at its notice address set forth on Schedule 1. 
 8.3. No Waiver
by Course of Conduct; Cumulative Remedies. Neither the Collateral Trustee nor any Secured Party shall by any act (except by a written instrument pursuant to Section 8.1), delay, indulgence, omission or otherwise be deemed to have waived any
right or remedy hereunder or to have acquiesced in any Default or Event of Default. No failure to exercise, nor any delay in exercising, on the part of the Collateral Trustee or any Secured Party, any right, power or privilege hereunder shall
operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by the Collateral Trustee or
any Secured Party of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which the Collateral Trustee or any Secured Party would otherwise have on any future occasion. The rights and remedies
herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or remedies provided by law. 
 8.4. Enforcement Expenses; Indemnification. (a) Each Grantor agrees to pay, or reimburse each Secured Party and the Collateral Trustee for, all its costs and expenses incurred in enforcing or
preserving any rights under this Agreement and the other Parity Lien Debt Documents to which such Grantor is a party, including, without limitation, the fees and disbursements of counsel (including the allocated fees and expenses of in-house
counsel) to each Secured Party and of counsel to the Collateral Trustee. 
 (b) Each Grantor, jointly and severally, agrees to
pay, and to save the Collateral Trustee and the Secured Parties harmless from, any and all liabilities with respect to, or resulting from any delay in paying, any and all stamp, excise, sales or other taxes which may be payable or determined to be
payable with respect to any of the Collateral or in connection with any of the transactions contemplated by this Agreement. 
 (c) Each Grantor, jointly and severally, agrees to pay, and to save the Collateral Trustee and the Secured Parties harmless from, any and all liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and administration of this Agreement to the extent the Company would be required to do so pursuant
to Section 7.12 of the Collateral Trust Agreement. 

  
 22 

 (d) The agreements in this Section 8.4 shall survive repayment of the Obligations and
all other amounts payable under the Indenture and the other Parity Lien Debt Documents. 
 8.5. Successors and Assigns.
This Agreement shall be binding upon the successors and assigns of each Grantor and shall inure to the benefit of the Secured Parties and their successors and assigns; provided that no Grantor may assign, transfer or delegate any of its
rights or obligations under this Agreement without the prior written consent of the Collateral Trustee. 
 8.6. Set-Off.
In addition to any rights and remedies of the Secured Parties provided by law, each Secured Party shall have the right, upon the occurrence and during the continuation of any Event of Default, and without any further notice to any Grantor, any such
notice being expressly waived by each Grantor to the extent permitted by applicable law, upon any Obligations becoming due and payable by any Grantor hereunder (whether at the stated maturity, by acceleration or otherwise), to apply to the payment
of such Obligations, by setoff or otherwise, any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect,
absolute or contingent, matured or unmatured, at any time held or owing by such Secured Party, any affiliate thereof or any of their respective branches or agencies to or for the credit or the account of such Grantor, as the case may be. Each
Secured Party agrees promptly to notify the relevant Grantor and the Collateral Trustee in writing after any such setoff and application made by such Secured Party, provided that the failure to give such notice shall not affect the validity
of such setoff and application. 
 8.7. Counterparts. This Agreement may be executed by one or more of the parties to
this Agreement on any number of separate counterparts (including by telecopy or electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 

8.8. Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. 
 8.9. Section Headings. The Section headings used in this Agreement are for
convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 
 8.10. Integration. This Agreement and the other Parity Lien Debt Documents represent the agreement of the Grantors, the Collateral Trustee and the Secured Parties with respect to the subject matter
hereof and thereof, and there are no promises, undertakings, representations or warranties by the Collateral Trustee or any Secured Party relative to the subject matter hereof and thereof not expressly set forth or referred to herein or in the other
Parity Lien Debt Documents. 
 8.11. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 8.12. Submission To Jurisdiction; Waivers. Each Grantor hereby
irrevocably and unconditionally: 
 (a) submits for itself and its property in any legal action or proceeding relating to this
Agreement and the other Note Documents to which it is a party, or for recognition and enforcement of 

  
 23 

 
any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern District of
New York, and appellate courts from any thereof; 
 (b) consents that any such action or proceeding may be brought in such
courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same;

 (c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered
or certified mail (or any substantially similar form of mail), postage prepaid, to such Grantor at its address referred to in Section 8.2 or at such other address of which the Collateral Trustee shall have been notified pursuant thereto;

 (d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or
shall limit the right to sue in any other jurisdiction; and 
 (e) waives, to the maximum extent not prohibited by law, any
right it may have to claim or recover in any legal action or proceeding referred to in this Section any special, exemplary, punitive or consequential damages. 
 8.13. Acknowledgements. Each Grantor hereby acknowledges that: 
 (a) it has
been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Parity Lien Debt Documents to which it is a party; 
 (b) neither the Collateral Trustee nor any Secured Party has any fiduciary relationship with or duty to any Grantor arising out of or in connection with this Agreement or any of the other Parity Lien Debt
Documents, and the relationship between the Grantors, on the one hand, and the Collateral Trustee and the Secured Parties, on the other hand, in connection herewith or therewith is solely that of debtor and creditor; and 

(c) no joint venture is created hereby or by the other Note Documents or otherwise exists by virtue of the transactions contemplated
hereby among the Secured Parties or among the Grantors and the Secured Parties. 
 8.14. Additional Grantors. Each
Subsidiary of the Company that is required to become a party to this Agreement pursuant to the terms of the Indenture or other Parity Lien Debt Document shall become a Grantor for all purposes of this Agreement upon execution and delivery by such
Subsidiary of an Assumption Agreement in the form of Annex 1 hereto. 
 8.15. Releases. (a) At such time
as the Notes and the other Obligations shall have been paid in full, the Collateral shall be released from the Liens created hereby, and this Agreement and all obligations (other than those expressly stated to survive such termination) of the
Collateral Trustee and each Grantor hereunder shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the Grantors. At the written request and sole expense of
any Grantor (and to the extent and in the form required by the Collateral Trust Agreement, upon receipt of an officer’s certificate and an opinion of counsel) following any such termination, the Collateral Trustee shall deliver to such Grantor
any Collateral held by the Collateral Trustee hereunder, and execute and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence such termination, in accordance with the provisions of the Collateral Trust
Agreement. 

  
 24 

 (b) If any of the Collateral shall be sold, transferred or otherwise disposed of by any
Grantor in a transaction permitted by the Parity Lien Debt Documents or that has been consented to in accordance with the terms of the Indenture and any other applicable Parity Lien Debt Document, then the Collateral Trustee, at the request and sole
expense of such Grantor, shall execute and deliver to such Grantor all releases or other documents reasonably necessary or desirable for the release of the Liens created hereby on such Collateral. 

8.16. WAIVER OF JURY TRIAL. EACH GRANTOR AND, BY ACCEPTANCE OF THE BENEFITS HEREOF, THE COLLATERAL TRUSTEE AND EACH SECURED PARTY,
HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER NOTE DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 

8.17. Collateral Trust Agreement. Notwithstanding anything herein to the contrary, the lien and security interest granted to the
Collateral Trustee for the benefit of the Secured Parties pursuant to this Agreement and the exercise of any right or remedy by the Collateral Trustee hereunder are subject to the provisions of the Collateral Trust Agreement. In the event of any
conflict between the terms of the Collateral Trust Agreement and this Agreement, the terms of the Collateral Trust Agreement shall govern and control. 

  
 25 

 IN WITNESS WHEREOF, each of the undersigned has caused this Second Lien Collateral Agreement
to be duly executed and delivered as of the date first above written. 
  

			
	CARMIKE CINEMAS, INC.
	
	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and
	Corporate Secretary
	
	EASTWYNN THEATRES, INC.
	
	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and
	Secretary
	
	GEORGE G. KERASOTES CORPORATION
	
	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and
	Secretary
	
	GKC INDIANA THEATRES, INC.
	
	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and
	Secretary
		 	
	
	GKC MICHIGAN THEATRES, INC.
	
	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and
	Secretary

 
			
	GKC THEATRES, INC.
	
	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and
	Secretary
	
	MILITARY SERVICES, INC.
	
	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and
	Secretary

  
 2 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee
	
	/s/ Stefan Victory
		 	  Name: Stefan Victory
		 	  Title: Vice President

  
 3 

 Annex 1 
 to 
 Collateral Agreement 

ASSUMPTION AGREEMENT, dated as of
            , 20     (this “Assumption Agreement”), made by
                                        , a
                     [corporation] (the “Additional Grantor”), in favor of Wells Fargo Bank, National Association, as collateral
trustee (in such capacity, the “Collateral Trustee”) for the Secured Parties described in the Collateral Agreement referred to below. All capitalized terms not defined herein shall have the meaning ascribed to them in the Collateral
Agreement. 
 W I T N E S S E T H : 

WHEREAS, Carmike Cinemas, Inc. (the “Company”) and certain of its Affiliates (other than the Additional Grantor) have
entered into the Second Lien Collateral Agreement, dated as of April 27, 2012 (as amended, supplemented or otherwise modified from time to time, the “Collateral Agreement”) in favor of the Collateral Trustee for the ratable
benefit of the Secured Parties referred to therein; 
 WHEREAS, the Collateral Agreement provides that the Additional Grantor
may become a party to the Collateral Agreement; and 
 WHEREAS, the Additional Grantor has agreed to execute and deliver this
Assumption Agreement in order to become a party to the Collateral Agreement; 
 NOW, THEREFORE, IT IS AGREED: 

1. Collateral Agreement. By executing and delivering this Assumption Agreement, the Additional Grantor, as provided in
Section 8.14 of the Collateral Agreement, hereby becomes a party to the Collateral Agreement as a Grantor thereunder with the same force and effect as if originally named therein as a Grantor and, without limiting the generality of the
foregoing, hereby expressly assumes all obligations and liabilities of a Grantor thereunder. The information set forth in Annex 1-A hereto is hereby added to the information set forth in the Schedules to the Collateral Agreement. The Additional
Grantor hereby represents and warrants that each of the representations and warranties contained in Section 4 of the Collateral Agreement is true and correct on and as the date hereof (after giving effect to this Assumption Agreement) as if
made on and as of such date. 
 2. GOVERNING LAW. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 IN WITNESS WHEREOF, the undersigned has caused
this Assumption Agreement to be duly executed and delivered as of the date first above written. 
  

			
	[ADDITIONAL GRANTOR]
		
	By:	 	  

		 	Name:
		 	Title:

 Annex 2 
 to 
 Collateral Agreement 

ACKNOWLEDGEMENT AND CONSENT 
 The undersigned hereby acknowledges receipt of a copy of the Second Lien Collateral Agreement, dated as of April 27, 2012 (the “Agreement”), made by the Grantors parties thereto for
the benefit of Wells Fargo Bank, National Association, as Collateral Trustee. The undersigned agrees for the benefit of the Secured Parties as follows: 
 1. The undersigned will be bound by the terms of the Agreement and will comply with such terms insofar as such terms are applicable to the undersigned. 

2. The undersigned will notify the Collateral Trustee promptly in writing of the occurrence of any of the events described in
Section 5.8(a) of the Agreement. 
 3. The terms of Sections 6.3(c) and 6.7 of the Agreement shall apply to it,
mutatis mutandis, with respect to all actions that may be required of it pursuant to Section 6.3(c) or 6.7 of the Agreement. 
  

			
	[NAME OF ISSUER]
		
	By	 	  

		
	Title	 	  

	
	Address for Notices:
	
	  

	  

	Fax:EX-10.3

 Exhibit 10.3 
 Execution Version 
  

 
 COLLATERAL TRUST AGREEMENT

 dated as of April 27, 2012 
 among 
 CARMIKE CINEMAS, INC., 

the Guarantors from time to time party hereto, 
 MACQUARIE US TRADING LLC, 
 as Administrative Agent under the Credit
Agreement, 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Trustee under the Indenture 
 and 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Collateral Trustee 
  

 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 ARTICLE 1. DEFINITIONS; PRINCIPLES OF CONSTRUCTION
	  	 	2	  
	 SECTION 1.1 Defined Terms
	  	 	2	  
	 SECTION 1.2 Rules of Interpretation
	  	 	15	  
		
	 ARTICLE 2. THE TRUST ESTATES
	  	 	16	  
	 SECTION 2.1 Declaration of Senior Trust
	  	 	16	  
	 SECTION 2.2 Declaration of Junior Trust
	  	 	17	  
	 SECTION 2.3 Priority of Liens
	  	 	18	  
	 SECTION 2.4 Restrictions on Enforcement of Parity Liens; Prohibition on Contesting Liens
	  	 	19	  
	 SECTION 2.5 Waiver of Right of Marshaling.
	  	 	21	  
	 SECTION 2.6 Discretion in Enforcement of Priority Liens.
	  	 	22	  
	 SECTION 2.7 Amendments to Priority Lien Debt Documents and Discretion in Enforcement of Priority Lien Debt
Obligations.
	  	 	22	  
	 SECTION 2.8 Insolvency or Liquidation Proceedings
	  	 	23	  
	 SECTION 2.9 Collateral Shared Equally and Ratably within Class
	  	 	25	  
	 SECTION 2.10 No New Liens
	  	 	25	  
	 SECTION 2.11 Similar Liens and Agreements
	  	 	25	  
		
	 ARTICLE 3. OBLIGATIONS AND POWERS OF COLLATERAL TRUSTEE
	  	 	26	  
	 SECTION 3.1 Appointment and Undertaking of the Collateral Trustee
	  	 	26	  
	 SECTION 3.2 Release or Subordination of Liens
	  	 	27	  
	 SECTION 3.3 Enforcement of Liens
	  	 	27	  
	 SECTION 3.4 Application of Proceeds
	  	 	28	  
	 SECTION 3.5 Powers of the Collateral Trustee
	  	 	30	  
	 SECTION 3.6 Documents and Communications
	  	 	30	  
	 SECTION 3.7 For Sole and Exclusive Benefit of Holders of Secured Obligations
	  	 	30	  
	 SECTION 3.8 Additional Secured Debt
	  	 	31	  
	 SECTION 3.9 Hedging Obligations and Bank Product Obligations
	  	 	34	  
		
	 ARTICLE 4. OBLIGATIONS ENFORCEABLE BY THE BORROWER AND THE GUARANTORS
	  	 	37	  
	 SECTION 4.1 Release of Liens on Collateral
	  	 	37	  
	 SECTION 4.2 Delivery of Copies to Secured Debt Representatives
	  	 	40	  
	 SECTION 4.3 Collateral Trustee not Required to Serve, File or Record
	  	 	40	  
	 SECTION 4.4 Release of Liens in Respect of any Series of Priority Lien Debt or any Series of Parity Lien Debt
	  	 	41	  
		
	 ARTICLE 5. IMMUNITIES OF THE COLLATERAL TRUSTEE
	  	 	42	  
	 SECTION 5.1 No Implied Duty
	  	 	42	  
	 SECTION 5.2 Appointment of Agents and Advisors
	  	 	42	  
	 SECTION 5.3 Other Agreements
	  	 	42	  
	 SECTION 5.4 Solicitation of Instructions
	  	 	42	  
	 SECTION 5.5 Limitation of Liability
	  	 	43	  

  
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	 SECTION 5.6 Documents in Satisfactory Form
	  	 	43	  
	 SECTION 5.7 Entitled to Rely
	  	 	43	  
	 SECTION 5.8 Secured Debt Default
	  	 	43	  
	 SECTION 5.9 Actions by Collateral Trustee
	  	 	43	  
	 SECTION 5.10 Security or Indemnity in favor of the Collateral Trustee
	  	 	44	  
	 SECTION 5.11 Rights of the Collateral Trustee
	  	 	44	  
	 SECTION 5.12 Limitations on Duty of Collateral Trustee in Respect of Collateral
	  	 	44	  
	 SECTION 5.13 Assumption of Rights, Not Assumption of Duties
	  	 	45	  
	 SECTION 5.14 No Liability for Clean Up of Hazardous Materials
	  	 	45	  
		
	 ARTICLE 6. RESIGNATION AND REMOVAL OF THE COLLATERAL TRUSTEE
	  	 	46	  
	 SECTION 6.1 Resignation or Removal of Collateral Trustee
	  	 	46	  
	 SECTION 6.2 Appointment of Successor Collateral Trustee
	  	 	46	  
	 SECTION 6.3 Succession
	  	 	46	  
	 SECTION 6.4 Merger, Conversion or Consolidation of Collateral Trustee
	  	 	47	  
		
	 ARTICLE 7. MISCELLANEOUS PROVISIONS
	  	 	47	  
	 SECTION 7.1 Amendment.
	  	 	47	  
	 SECTION 7.2 Voting
	  	 	49	  
	 SECTION 7.3 Further Assurances; Insurance
	  	 	50	  
	 SECTION 7.4 Perfection of Junior Trust Estate
	  	 	51	  
	 SECTION 7.5 Separate Grants and Separate Classification
	  	 	52	  
	 SECTION 7.6 Successors and Assigns
	  	 	53	  
	 SECTION 7.7 Delay and Waiver
	  	 	53	  
	 SECTION 7.8 Notices
	  	 	53	  
	 SECTION 7.9 Notice Following Discharge of Priority Lien Debt Obligations
	  	 	54	  
	 SECTION 7.10 Entire Agreement
	  	 	55	  
	 SECTION 7.11 Compensation; Expenses
	  	 	55	  
	 SECTION 7.12 Indemnity
	  	 	56	  
	 SECTION 7.13 Severability
	  	 	56	  
	 SECTION 7.14 Headings
	  	 	57	  
	 SECTION 7.15 Obligations Secured
	  	 	57	  
	 SECTION 7.16 Governing Law
	  	 	57	  
	 SECTION 7.17 Consent to Jurisdiction
	  	 	57	  
	 SECTION 7.18 Waiver of Jury Trial
	  	 	58	  
	 SECTION 7.19 Counterparts, Electronic Signatures
	  	 	58	  
	 SECTION 7.20 Effectiveness
	  	 	58	  
	 SECTION 7.21 Guarantors and Additional Guarantors
	  	 	58	  
	 SECTION 7.22 Continuing Nature of this Agreement
	  	 	59	  
	 SECTION 7.23 Insolvency
	  	 	59	  
	 SECTION 7.24 Rights and Immunities of Secured Debt Representatives
	  	 	59	  
	 SECTION 7.25 U.S.A. Patriot Act
	  	 	59	  
		
	 EXHIBIT A – Additional Secured Debt Designation
	  			
	EXHIBIT B – Form of Collateral Trust Joinder—Additional Secured Debt	  			
	EXHIBIT C – Form of Collateral Trust Joinder—Additional Guarantors	  			
	EXHIBIT D – Additional Secured Obligation Designation	  			

  
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 EXHIBIT E – Form of Collateral Trust Joinder—Additional Secured Obligations 

  
 iii

 This Collateral Trust Agreement (as amended, supplemented, amended and restated or otherwise
modified from time to time in accordance with Section 7.1 hereof, this “Agreement”) is dated as of April 27, 2012 and is by and among CARMIKE CINEMAS, INC., a Delaware corporation (the
“Borrower”), the Guarantors from time to time party hereto, MACQUARIE US TRADING LLC, as Administrative Agent (as defined below), WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as Trustee (as defined
below), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as Collateral Trustee (in such capacity and together with its successors in such capacity, the “Collateral Trustee”). 

RECITALS 
 The
Borrower intends to enter into a Credit Agreement dated as of the date hereof (as amended, restated, modified, renewed, refunded, replaced in any manner (whether upon or after termination or otherwise) or refinanced (including by means of sales of
debt securities to institutional investors) in whole or in part from time to time, the “Credit Agreement”) among the Borrower, the Affiliates of the Borrower named therein, the Lenders party thereto, Macquarie US Trading LLC,
as administrative agent (in such capacity and together with its successors, the “Administrative Agent”), and the lenders party thereto, which will provide for a $25,000,000 credit facility. 

The Borrower intends to issue     % Senior Secured Notes (including any related exchange notes, the
“Notes”) in an aggregate principal amount of $210,000,000 pursuant to an Indenture dated as of the date hereof (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the
“Indenture”) among the Borrower, the guarantors party thereto and Indenture Trustee, as trustee (in such capacity and together with its successors in such capacity, the “Trustee”). 

Capitalized terms used in this Agreement have the meanings assigned to them above or in Article 1 below. 

The Borrower and the Guarantors intend to secure the Obligations under the Credit Agreement, any future Priority Lien Debt and any other
Priority Lien Debt Obligations on a priority basis and, subject to such priority, intend to secure the Obligations under the Indenture, any future Parity Lien Debt and any other Parity Lien Debt Obligations, with Liens on all present and future
Collateral to the extent that such Liens have been provided for in the applicable Security Documents. 
 This Agreement sets
forth the terms on which each Secured Party has appointed the Collateral Trustee to act as the collateral trustee for the present and future holders of the Secured Obligations to receive, hold, maintain, administer and distribute the Collateral at
any time delivered to the Collateral Trustee or the subject of the Security Documents, and to enforce the Security Documents and all interests, rights, powers and remedies of the Collateral Trustee with respect thereto or thereunder and the proceeds
thereof. 

 AGREEMENT 
 In consideration of the premises and the mutual agreements herein set forth, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows:

 ARTICLE 1. DEFINITIONS; PRINCIPLES OF CONSTRUCTION 
 SECTION 1.1 Defined Terms. The following terms will have the following meanings: 
 “Act of Required Secured Parties” means, as to any matter at any time: 
 (1) prior to the Discharge of Priority Lien Debt Obligations, a direction in writing delivered to the Collateral Trustee by or with the written consent of, either the holders of, or the Priority Lien Debt
Representatives representing the holders of, in each case, more than 50% of the sum of: 
 (a) the aggregate
outstanding principal amount of Priority Lien Debt (including the face amount of outstanding letters of credit whether or not then available or drawn); and 
 (b) other than in connection with the exercise of remedies, the aggregate unfunded commitments to extend credit which, when funded, would constitute Priority Lien Debt; provided, however,
that if at any time prior to the Discharge of Priority Lien Debt Obligations the only remaining Priority Lien Debt Obligations are Hedging Obligations, then the term “Act of Required Secured Parties” will mean the holders of a majority of
the aggregate “settlement amount” (or similar term) as defined in the Hedge Agreements (or, with respect to any Hedge Agreement that has been terminated in accordance with its terms, the amount, if any, then due and payable by the Borrower
or any Guarantor (exclusive of expenses and similar payments but including any early termination payments then due) under such Hedge Agreement) under all Hedge Agreements; provided further, that any Hedge Agreement with a “settlement
amount” (or similar term) or termination payment that is a negative number shall be disregarded for purposes of all calculations required by the term “Act of Required Secured Parties”; and 

(2) at any time after the Discharge of Priority Lien Debt Obligations, a direction in writing delivered to the Collateral
Trustee by or with the written consent of either the holders of, or the Parity Lien Debt Representatives representing the holders of, in each case, Parity Lien Debt representing the Required Parity Lien Debtholders. 

For purposes of this definition, (a) Secured Debt registered in the name of, or beneficially owned by, the Borrower or any Affiliate of the Borrower
will be deemed not to be outstanding and (b) votes will be determined in accordance with Section 7.2. 

  
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 “Additional Secured Debt” has the meaning set forth in
Section 3.8. 
 “Additional Secured Debt Designation” means a notice is substantially the form of
Exhibit A. 
 “Additional Secured Obligation Designation” means a notice is substantially the
form of Exhibit D. 
 “Administrative Agent” has the meaning set forth in the recitals.

 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and
“under common control with” have correlative meanings. 
 “Affiliate Securities” means all
“securities” of any of the Borrower’s “affiliates” (as the terms “securities” and “affiliates” are used in Rule 3-16 of Regulation S-X under the Securities Act of 1933, as amended, and any successor rule)
including any securities described in Section 4.4(c) hereof. 
 “Agreement” has the meaning set
forth in the preamble. 
 “Attributable Debt” in respect of a sale and leaseback transaction means, at
the time of determination, the present value of the obligation of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction including any period for which such lease has been extended
or may, at the option of the lessor, be extended. Such present value shall be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with GAAP; provided, however, that if
such sale and leaseback transaction results in a Capital Lease Obligation, the amount of Indebtedness represented thereby will be determined in accordance with the definition of “Capital Lease Obligation” under the Indenture. 

“Bank Product Obligations” means, all obligations and liabilities (whether direct or indirect, absolute or
contingent, due or to become due or now existing or hereafter incurred) of Borrower or any Guarantor, whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise, which may arise under, out
of, or in connection with any treasury, investment, depository, clearing house, wire transfer, cash management or automated clearing house transfers of funds services or any related services, to any Person, in each case which are designated by
Borrower to the Collateral Trustee and each Priority Lien Debt Representative as Bank Product Obligations by written notice in accordance with Section 3.9 hereof. 
 “Bank Product Provider” means any Person to whom Bank Product Obligations are owing. 

  
 3 

 “Board of Directors” means (a) with respect to a corporation,
the board of directors of the corporation or any committee thereof duly authorized to act on behalf of such board, (b) with respect to a partnership, the Board of Directors of the general partner of the partnership, (c) with respect to a
limited liability company, the managing member or members or any controlling committee of managing members thereof and (d) with respect to any other Person, the board or committee of such Person serving a similar function. 

“Borrower” has the meaning set forth in the preamble. 

“Business Day” means any day other than a Saturday, a Sunday or a day on which banking institutions in the City
of New York or at a place of payment of any applicable Secured Obligations are authorized by law, regulation or executive order to remain closed. 
 “Capital Stock” means: 
 (1) in the case of
a corporation, corporate stock; 
 (2) in the case of an association or business entity, any and all shares,
interests, participations, rights or other equivalents (however designated) of stock; 
 (3) in the case of a
partnership or limited liability company, partnership interests (whether general or limited) or membership interests; and 
 (4) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, 

but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of
participation with Capital Stock. 
 “Cash Equivalents” means: 

(1) United States dollars; 
 (2) securities issued or directly and fully guaranteed or insured by the United States government (or any agency or instrumentality of the United States government); provided, that the full faith
and credit of the United States is pledged in support of any securities having maturities of not more than one year from the date of acquisition; 
 (3) certificates of deposit and Eurodollar time deposits with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding six months and overnight
bank deposits, in each case, with any lender party to the Credit Agreement or with any domestic commercial bank having capital and surplus in excess of $500.0 million and a Thomson Bank Watch Rating of “B” or better; 

(4) marketable direct obligations issued by any state of the United States or any political subdivision of any such state
or any public instrumentality thereof, in each case maturing within one year from the date of acquisition, and having, at the time of acquisition, a credit rating of at least “A-1” from S&P or at least “P-1” from
Moody’s; 

  
 4 

 (5) repurchase obligations with a term of not more than seven days for
underlying securities of the types described in clauses (2), (3) and (4) above, entered into with any financial institution meeting the qualifications specified in clause (3) above; 

(6) commercial paper having one of the two highest ratings obtainable from Moody’s or S&P and, in each case,
maturing within six months after the date of acquisition; and 
 (7) money market funds, the assets of which
consist of at least 95% Cash Equivalents of the kinds described in clauses (1) through (6) of this definition. 

“Class” means (1) in the case of Parity Lien Debt Obligations, every Series of Parity Lien Debt and all
other Parity Lien Debt Obligations, taken together, and (2) in the case of Priority Lien Debt Obligations, every Series of Priority Lien Debt and all other Priority Lien Debt Obligations, taken together. 

“Collateral” means, in the case of each Series of Secured Debt, all properties and assets of the Borrower and the
Guarantors now owned or hereafter acquired in which Liens have been granted, or purported to be granted, or required to be granted, to the Collateral Trustee to secure any or all of the Secured Obligations, and shall exclude any properties and
assets in which the Collateral Trustee is required to release its Liens pursuant to Section 3.2; provided, that, if such Liens are required to be released as a result of the sale, transfer or other disposition of any properties or assets
of the Borrower or any Guarantor, such assets or properties will cease to be excluded from the Collateral if the Borrower or any Guarantor thereafter acquires or reacquires such assets or properties. 

“Collateral Trustee” has the meaning set forth in the preamble. 

“Collateral Trust Joinder” means (i) with respect to the provisions of this Agreement relating to any
Additional Secured Debt, an agreement substantially in the form of Exhibit B, (ii) with respect to the provisions of this Agreement relating to the addition of additional Guarantors, an agreement substantially in the form of
Exhibit C and (iii) with respect to the provisions of this Agreement relating to any Hedging Obligations or Bank Product Obligations, an agreement substantially in the form of Exhibit E. 

“Controlling Representative” means at any time (1) prior to a Discharge of Priority Lien Debt Obligations,
the Priority Lien Debt Representative that represents the Series of Priority Lien Debt with the then largest outstanding principal amount and unfunded commitments or, if there is no Series of Priority Lien Debt, the Hedge Provider with the largest
amount of Priority Lien Debt Obligations owed to it (calculated in accordance with Section 3.4 hereof) and (2) after a Discharge of Priority Lien Debt Obligations, the Parity Lien Debt Representative that represents the Series of Parity
Lien Debt with the then largest outstanding principal amount. 
 “Credit Agreement” has the meaning set
forth in the recitals. 
 “Credit Facility” means one or more debt facilities (including, without
limitation, any Credit Agreement), indentures or commercial paper facilities, in each case, with banks or other institutional lenders, accredited investors or institutional investors providing for revolving credit

  
 5 

 
loans, term loans, term debt, debt securities, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders
against such receivables) or letters of credit, in each case, as amended, restated, modified, renewed, extended, increased, refunded, replaced in any manner (whether upon or after termination or otherwise) or refinanced (including by means of sales
of debt securities to institutional investors) in whole or in part from time to time. 
 “Currency
Agreement” means any foreign exchange contract, currency swap agreement, futures contract, option contract, synthetic cap or other similar agreement or arrangement, each of which is for the purpose of hedging the foreign currency risk
associated with the operations of the Borrower and/or its Affiliates and not for speculative purposes. 
 “Discharge
of Priority Lien Debt Obligations” means the occurrence of all of the following: 
 (1) termination
or expiration of all commitments to extend credit that would constitute Priority Lien Debt; 
 (2) with respect
to each Series of Priority Lien Debt, either (x) payment in full in cash of the principal of and interest and premium (if any) on all Priority Lien Debt of such Series (other than any undrawn letters of credit) or (y) there has been a
legal defeasance or covenant defeasance pursuant to the terms of the applicable Secured Debt Documents for such Series of Secured Debt; 
 (3) with respect to any undrawn letters of credit constituting Priority Lien Debt, either (x) discharge or cash collateralization (at the lower of (A) 105% of the aggregate undrawn amount and
(B) the percentage of the aggregate undrawn amount required for release of liens under the terms of the applicable Priority Lien Document) of all outstanding letters of credit constituting Priority Lien Debt or (y) the issuer of each such
letter of credit has notified the Collateral Trustee in writing that alternative arrangements satisfactory to such issuer and to the holders of the related Series of Secured Debt that has reimbursement obligations with respect thereto have been
made; and 
 (4) payment in full in cash of all other Priority Lien Debt Obligations that are outstanding and
unpaid at the time the Priority Lien Debt is paid in full in cash (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no claim or demand for payment has been made at such
time); 
 provided, however, that if, at any time after the Discharge of Priority Lien Debt
Obligations has occurred, the Borrower thereafter enters into any Priority Lien Document evidencing a Priority Lien Debt which incurrence is not prohibited by any applicable Secured Debt Document, then such Discharge of Priority Lien Debt
Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement with respect to such new Priority Lien Debt (other than with respect to any actions taken as a result of the occurrence of such first Discharge of
Priority Lien Debt Obligations), and, from and after the date on which the Borrower designates such Indebtedness as Priority 

  
 6 

 
Lien Debt in accordance with Section 3.8, the obligations under such Priority Lien Document shall automatically and without any further action be treated as Priority Lien Debt Obligations
for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Collateral set forth herein and any Parity Lien Debt Obligations shall be deemed to have been at all times Parity Lien Debt Obligations and at
no time Priority Lien Debt Obligations. 
 “Financing Obligations” means all obligations of Carmike and
its Subsidiaries of the type described as “financing obligations” in the audited consolidated financial statements of Carmike for the fiscal year ended December 31, 2011. 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a
significant segment of the accounting profession, which are in effect from time to time. 
 “Guarantee”
means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course of business, direct or indirect, in any manner including, by way of a pledge of assets or through letters of credit or reimbursement
agreements in respect thereof, of all or any part of any Indebtedness (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services, to take or pay or to maintain financial
statement conditions or otherwise). 
 “Guarantor” means, with respect to any Priority Lien Debt
Obligations, each person who has Guaranteed payment of any Priority Lien Debt Obligations and, with respect to any Parity Lien Debt Obligations, each person who has Guaranteed payment of any Parity Lien Debt Obligations. 

“Hedge Agreement” means any Interest Rate Agreement or Currency Agreement; provided that the counterparty
thereto has delivered a Collateral Trust Joinder in respect thereof and the other requirements of Section 3.9 have been complied with. As used herein, “Hedge Agreement” shall include both any Interest Rate Agreement or Currency
Agreement constituting a “master agreement” and any related Swap Transaction; provided, however that a Collateral Trust Joinder pursuant to 3.9 shall only be required once for each master agreement and shall not be required for each
individual Swap Transaction thereunder. 
 “Hedge Modification” has the meaning set forth in
Section 3.9(d)(1). 
 “Hedge Mortgage” has the meaning set forth in Section 3.9(d)(1).

 “Hedge Mortgaged Property” has the meaning set forth in Section 3.9(d)(1). 

“Hedge Title Datedown Product” has the meaning set forth in Section 3.9(d)(3). 

  
 7 

 “Hedging Obligations” means, with respect to any specified Person,
the obligations of such Person under any Hedge Agreement. 
 “Hedge Provider” means the counterparty to
the Borrower or any Affiliate of the Borrower under any Hedge Agreement. 
 “Indebtedness” means, with
respect to any specified Person, any indebtedness of such Person (excluding accrued expenses and trade payables), whether or not contingent: 
 (1) in respect of borrowed money; 
 (2) evidenced by bonds, notes,
debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof); 
 (3)
in respect of banker’s acceptances; 
 (4) representing Capital Lease Obligations or Attributable Debt in
respect of sale and leaseback transactions; 
 (5) representing the balance deferred and unpaid of the purchase
price of any property or services due more than one year after such property is acquired or such services are completed, except (a) any such balance that constitutes an accrued expense or trade payable, or similar obligations to trade
creditors, incurred in the ordinary course of business and (b) obligations under earnout provisions in connection with the acquisition of assets or Capital Stock of another Person; 

(6) representing any Financing Obligations; or 

(7) representing any Hedging Obligations or Bank Product Obligations, 

if and to the extent any of the preceding items (other than letters of credit, Attributable Debt and Hedging Obligations) would appear as a liability
upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such
Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person. Indebtedness shall be calculated without giving effect to the effects of
Statement of Financial Accounting Standards No. 133 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under the Indenture as a result of accounting for any
embedded derivatives created by the terms of such Indebtedness. 
 “Indemnified Liabilities” means any
and all liabilities (including all environmental liabilities), obligations, losses, damages, penalties, actions, judgments, suits, costs, taxes, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery,
performance, administration or enforcement of this Agreement or any of the other Security Documents, including any of the foregoing relating to the use of proceeds of any Secured Debt or the violation of, noncompliance with or liability under, any
law (including environmental laws) applicable to or enforceable against the Borrower, any of its Subsidiaries or 

  
 8 

 
any Guarantor or any of the Collateral and all reasonable costs and expenses (including reasonable fees and expenses of legal counsel selected by the Indemnitee) incurred by any Indemnitee in
connection with any claim, action, investigation or proceeding in any respect relating to any of the foregoing, whether or not suit is brought. 
 “Indemnitee” has the meaning set forth in Section 7.11(a). 
 “Indenture” has the meaning set forth in the recitals. 

“Insolvency or Liquidation Proceeding” means: 

(1) any case commenced by or against the Borrower or any Guarantor under Title 11, U.S. Code or any similar federal or
state law for the relief of debtors, any other proceeding for the reorganization, recapitalization or adjustment or marshalling of the assets or liabilities of the Borrower or any Guarantor, any receivership or assignment for the benefit of
creditors relating to the Borrower or any Guarantor or any similar case or proceeding relative to the Borrower or any Guarantor or its creditors, as such, in each case whether or not voluntary; 

(2) any liquidation, dissolution, marshalling of assets or liabilities or other winding up of or relating to the Borrower
or any Guarantor, in each case whether or not voluntary and whether or not involving bankruptcy or insolvency; or 
 (3) any other proceeding of any type or nature in which substantially all claims of creditors of the Borrower or any Guarantor are determined and any payment or distribution is or may be made on account
of such claims. 
 “Interest Rate Agreement” means any interest rate swap agreement, interest rate cap
agreement, interest rate collar agreement or other similar agreement or arrangement designed to protect the Borrower or any of its Affiliates against fluctuations in interest rates and is not for speculative purposes. 

“Junior Trust Estate” has the meaning set forth in Section 2.2. 

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of
any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell
or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction. 
 “Modification” has the meaning set forth in Section 3.8(d)(1). 
 “Moody’s” means Moody’s Investors Service, Inc., and its successors and assigns. 
 “Mortgage” has the meaning set forth in Section 3.8(d)(1). 
 “Mortgaged Property” has the meaning set forth in Section 3.8(d)(1). 

  
 9 

 “Notes” has the meaning set forth in the recitals. 

“Note Documents” means the Indenture, the Notes and the Parity Lien Security Documents. 

“Obligations” means any principal (including reimbursement obligations with respect to letters of credit whether
or not drawn), interest (including all interest accrued thereon after the commencement of any Insolvency or Liquidation Proceeding at the rate, including any applicable post-default rate, specified in the applicable Secured Debt Documents, even if
such interest is not enforceable, allowable or allowed as a claim in such proceeding), premium (if any), fees, indemnifications, reimbursements, expenses and other liabilities payable under the documentation governing any Indebtedness. 

“Officers’ Certificate” means a certificate with respect to compliance with a condition or covenant provided
for in this Agreement, signed on behalf of the Borrower by two officers of the Borrower, one of whom must be the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Borrower,
including: 
 (a) a statement that the Person making such certificate has read such covenant or condition;

 (b) a brief statement as to the nature and scope of the examination or investigation upon which the statements
or opinions contained in such certificate are based; 
 (c) a statement that, in the opinion of such Person, he
or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

(d) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied.

 “Parity Lien” means a Lien granted by a Security Document to the Collateral Trustee, at any time,
upon any property of the Borrower or any Guarantor to secure Parity Lien Debt Obligations. 
 “Parity Lien
Debt” means: 
 (1) the Notes issued on the date hereof (including any related exchange notes); and

 (2) any other Indebtedness (including additional Notes), other than Hedging Obligations or Bank Product
Obligations, that is secured by a Parity Lien and that was permitted to be incurred and so secured under each applicable Secured Debt Document; 

  
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 provided, in the case of any Indebtedness referred to in clause (2) of this
definition, that: 
 (a) on or before the date on which such Indebtedness is incurred by the Borrower, such
Indebtedness is designated by the Borrower as “Parity Lien Debt” for the purposes of the Secured Debt Documents in an Additional Secured Debt Designation executed and delivered in accordance with Section 3.8; provided, that no
Obligation or Indebtedness may be designated as both Parity Lien Debt and Priority Lien Debt; 
 (b) the Parity
Lien Debt Representative for such Indebtedness executes and delivers a Collateral Trust Joinder in accordance with Section 3.8(b); and 
 (c) all other requirements set forth in Section 3.8 have been complied with. 

“Parity Lien Debt Documents” means, collectively, the Note Documents and the indenture, credit agreement or other
agreement governing each other Series of Parity Lien Debt and the Parity Lien Security Documents. 
 “Parity Lien
Debt Obligations” means Parity Lien Debt and all other Obligations in respect thereof including all guarantees of any of the foregoing. 
 “Parity Lien Debt Representative” means: 

(1) in the case of the Notes, the Trustee; or 

(2) in the case of any other Series of Parity Lien Debt, the trustee, agent or representative of the holders of such
Series of Parity Lien Debt who maintains the transfer register for such Series of Parity Lien Debt and (A) is appointed as a Parity Lien Debt Representative (for purposes related to the administration of the Security Documents) pursuant to the
indenture, credit agreement or other agreement governing such Series of Parity Lien Debt, together with its successors in such capacity, and (B) that has executed a Collateral Trust Joinder. 

“Parity Lien Secured Parties” means the holders of Parity Lien Debt Obligations and each Parity Lien Debt
Representative. 
 “Parity Lien Security Documents” means all security agreements, pledge agreements,
collateral assignments, mortgages, deeds of trust, collateral agency agreements, control agreements or other grants or transfers for security executed and delivered by the Borrower or any Guarantor creating (or purporting to create) a Lien upon
Collateral in favor of the Collateral Trustee, for the benefit of any of the Parity Lien Secured Parties, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with its terms and
Section 7.1. 
 “Person” means any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization, limited liability company or government or other entity. 

  
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 “Priority Lien” means a Lien granted, or purported to be granted, by
a Security Document to the Collateral Trustee, at any time, upon any property of the Borrower or any Guarantor to secure Priority Lien Debt Obligations. 
 “Priority Lien Debt” means: 
 (1)
Indebtedness under the Credit Agreement (including letters of credit and reimbursement obligations with respect thereto) that was permitted to be incurred and secured under each applicable Secured Debt Document (or as to which the lenders under the
Credit Agreement obtained an Officers’ Certificate at the time of incurrence (or with respect to any revolving credit obligations, as the time of commitment) to the effect that such Indebtedness was permitted to be incurred and secured by all
applicable Secured Debt Documents); and 
 (2) any other Indebtedness (including, without limitation, borrowings
under any other Credit Facility) that is secured with the Credit Agreement by a Priority Lien and that was permitted to be incurred and so secured under each applicable Secured Debt Document; provided, in the case of any Indebtedness referred
to in this clause (2), that: 
 (a) on or before the date on which such Indebtedness is incurred by the Borrower,
such Indebtedness is designated by the Borrower as “Priority Lien Debt” for the purposes of the Secured Debt Documents in an Additional Secured Debt Designation executed and delivered in accordance with Section 3.8(a);
provided, that no Obligation or Indebtedness may be designated as both Parity Lien Debt and Priority Lien Debt; 
 (b) the Priority Lien Debt Representative for such Indebtedness executes and delivers a Collateral Trust Joinder in accordance with Section 3.8(b); and 

(c) all other requirements set forth in Section 3.8 have been complied with. 

For the avoidance of doubt, Hedging Obligations and Bank Product Obligations do not constitute Priority Lien Debt but may constitute
Priority Lien Debt Obligations. 
 “Priority Lien Debt Documents” means the Credit Agreement and any
other indenture, credit agreement or other agreement pursuant to which any Priority Lien Debt is incurred and the Security Documents (other than any Security Documents that do not secure Priority Lien Debt Obligations). 

“Priority Lien Debt Obligations” means the Priority Lien Debt and all other Obligations in respect of Priority
Lien Debt, together with all Hedging Obligations and Bank Product Obligations and all guarantees of any of the foregoing. 

“Priority Lien Debt Representative” means: 

(a) in the case of the Credit Agreement, the Administrative Agent; or 

  
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 (b) in the case of any other Series of Priority Lien Debt, the trustee,
agent or representative of the holders of such Series of Priority Lien Debt who maintains the transfer register for such Series of Priority Lien Debt and is appointed as a representative of the Priority Lien Debt (for purposes related to the
administration of the Security Documents) pursuant to the credit agreement or other agreement governing such Series of Priority Lien Debt, and who has executed a Collateral Trust Joinder. 

“Priority Lien Secured Parties” means the holders of Priority Lien Debt Obligations and each Priority Lien Debt
Representative. 
 “Priority Lien Security Documents” means all security agreements, pledge agreements,
collateral assignments, mortgages, deeds of trust, collateral agency agreements, control agreements or other grants or transfers for security executed and delivered by the Borrower or any Guarantor creating (or purporting to create) a Lien upon
Collateral in favor of the Collateral Trustee, for the benefit of any of the Priority Lien Secured Parties, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with its terms and
Section 7.2. 
 “Reaffirmation Agreement” means an agreement reaffirming the security interests
granted to the Collateral Trustee in substantially the form attached as Exhibit 1 to Exhibit A of this Agreement 

“Required Parity Lien Debtholders” means, at any time, the holders of more than 50% of the sum of: 

(a) the aggregate outstanding principal amount of Parity Lien Debt (including outstanding letters of credit whether or not
then available or drawn); and 
 (b) other than in connection with the exercise of remedies, the aggregate
unfunded commitments to extend credit which, when funded, would constitute Parity Lien Debt. 
 For purposes of this definition,
(a) Parity Lien Debt registered in the name of, or beneficially owned by, the Borrower or any Affiliate of the Borrower will be deemed not to be outstanding, and (b) votes will be determined in accordance with the provisions of
Section 7.2. 
 “S&P” means Standard & Poor’s Ratings Group and its successors
and assigns. 
 “Secured Debt” means Parity Lien Debt and Priority Lien Debt. 

“Secured Debt Default” means any event or condition which, under the terms of any credit agreement, indenture or
other agreement governing any Series of Secured Debt causes, or permits holders of Secured Debt outstanding thereunder (with or without the giving of notice or lapse of time, or both, and whether or not notice has been given or time has lapsed) to
cause, the Secured Debt outstanding thereunder to become immediately due and payable. 

  
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 “Secured Debt Documents” means the Parity Lien Debt Documents and
the Priority Lien Debt Documents. 
 “Secured Debt Representative” means each Parity Lien Debt
Representative and each Priority Lien Debt Representative. 
 “Secured Obligations” means Parity Lien
Debt Obligations and Priority Lien Debt Obligations. 
 “Secured Parties” means the Trustee, the
Collateral Trustee, the holders of Secured Obligations and the Secured Debt Representatives. 
 “Security
Documents” means this Agreement, each Collateral Trust Joinder, each Priority Lien Security Document and each Parity Lien Security Document, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from
time to time, in accordance with its terms and Section 7.1. 
 “Senior Trust Estate” has the
meaning set forth in Section 2.1. 
 “Series of Parity Lien Debt” means, severally, the Notes and
each other issue or series of Parity Lien Debt for which a single transfer register is maintained. 
 “Series of
Priority Lien Debt” means, severally, Indebtedness under the Credit Agreement and any other Credit Facility that constitutes Priority Lien Debt. 
 “Series of Secured Debt” means, severally, each Series of Priority Lien Debt and each Series of Parity Lien Debt. 

“Subsidiary” means, with respect to any specified Person: 

(1) any corporation, association or other business entity of which more than 50% of the total voting power of shares of
Capital Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or
trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 

(2) any partnership or limited liability company of which (a) more than 50% of the capital accounts, distribution
rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof,
whether in the form of membership, general, special or limited partnership interests or otherwise, and (b) such Person or any Subsidiary of such Person is a controlling general partner or otherwise controls such entity. 

  
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 “Swap Transactions” means any and all such transactions of any kind,
and the related confirmations, which are subject to the terms and conditions of, or governed by, any Hedge Agreement. 

“Title Datedown Product” has the meaning set forth in Section 3.8(d)(3). 

“Trustee” has the meaning set forth in the recitals. 

“Trust Estates” has the meaning set forth in Section 2.2. 

“UCC” means the Uniform Commercial Code as in effect in the State of New York or any other applicable
jurisdiction. 
 “Voting Stock” of any Person as of any date means the Capital Stock of such Person that
is at the time entitled to vote in the election of the Board of Directors of such Person. 
 SECTION 1.2 Rules of
Interpretation. 
 (a) All terms used in this Agreement that are defined in Article 9 of the UCC and not otherwise
defined herein have the meanings assigned to them in Article 9 of the UCC. 
 (b) Unless otherwise indicated, any reference to
any agreement or instrument will be deemed to include a reference to that agreement or instrument as assigned, amended, supplemented, amended and restated, or otherwise modified and in effect from time to time or replaced in accordance with the
terms of this Agreement. 
 (c) The use in this Agreement or any of the other Security Documents of the word “include”
or “including,” when following any general statement, term or matter, will not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters,
whether or not nonlimiting language (such as “without limitation” or “but not limited to” or words of similar import) is used with reference thereto, but will be deemed to refer to all other items or matters that fall within the
broadest possible scope of such general statement, term or matter. The word “will” shall be construed to have the same meaning and effect as the word “shall.” 

(d) References to “Sections,” “clauses,” “recitals” and the “preamble” will be to Sections,
clauses, recitals and the preamble, respectively, of this Agreement unless otherwise specifically provided. References to “Articles” will be to Articles of this Agreement unless otherwise specifically provided. References to
“Exhibits” and “Schedules” will be to Exhibits and Schedules, respectively, to this Agreement unless otherwise specifically provided. 
 (e) Notwithstanding anything to the contrary in this Agreement, any references contained herein to any section, clause, paragraph, definition or other provision of the Indenture (including any definition
contained therein) shall be deemed to be a reference to such section, clause, paragraph, definition or other provision as in effect on the date of this Agreement; provided, that any reference to any such section, clause, paragraph or other
provision 

  
 15 

 
shall refer to such section, clause, paragraph or other provision of the Indenture (including any definition contained therein) as amended or modified from time to time if such amendment or
modification has been (1) made in accordance with the Indenture and (2) prior to the Discharge of Priority Lien Debt Obligations, approved in a writing delivered to the Trustee and the Collateral Trustee by, or on behalf of, the requisite
holders of Priority Lien Debt Obligations as are needed (if any) under the terms of the applicable Priority Lien Debt Documents to approve such amendment or modification. Unless otherwise set forth herein, references to principal amount shall
include, without duplication, any reimbursement obligations with respect to a letter or credit and the face amount thereof (whether or not such amount is, at the time of determination, drawn or available to be drawn). 

This Agreement and the other Security Documents will be construed without regard to the identity of the party who drafted it and as
though the parties participated equally in drafting it. Consequently, each of the parties acknowledges and agrees that any rule of construction that a document is to be construed against the drafting party will not be applicable either to this
Agreement or the other Security Documents. 
 ARTICLE 2. THE TRUST ESTATES 

SECTION 2.1 Declaration of Senior Trust. 
 To secure the payment of the Priority Lien Debt Obligations and in consideration of the premises and mutual agreements set forth in this Agreement, the Borrower and each of the Guarantors hereby confirms
the grant to the Collateral Trustee, and the Collateral Trustee hereby accepts and agrees to hold, in trust under this Agreement for the benefit of all current and future Priority Lien Secured Parties, all of the Borrower’s and each of the
Guarantors’ right, title and interest in, to and under all Collateral now or hereafter granted to the Collateral Trustee under any Priority Lien Security Document for the benefit of the Priority Lien Secured Parties, together with all of the
Collateral Trustee’s right, title and interest in, to and under the Priority Lien Security Documents, and all interests, rights, powers and remedies of the Collateral Trustee thereunder or in respect thereof and all cash and non-cash proceeds
thereof (collectively, the “Senior Trust Estate”). 
 The Collateral Trustee and its successors and
assigns under this Agreement will hold the Senior Trust Estate in trust for the benefit solely and exclusively of all current and future Priority Lien Secured Parties as security for the payment of all present and future Priority Lien Debt
Obligations. 
 Notwithstanding the foregoing, if at any time: 

(1) all Liens securing the Priority Lien Debt Obligations have been released as provided in Section 4.1; 

(2) the Collateral Trustee holds no other property in trust as part of the Senior Trust Estate; 

  
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 (3) no monetary obligation (other than indemnification and other contingent
obligations in respect of which no claim or demand for payment has been made at such time) is outstanding and payable under this Agreement to the Collateral Trustee or any of its co-trustees or agents (whether in an individual or representative
capacity); and 
 (4) the Borrower delivers to the Collateral Trustee an Officers’ Certificate stating that
all Priority Liens of the Collateral Trustee have been released in compliance with all applicable provisions of the Priority Lien Debt Documents and that the Borrower and each of the Guarantors are not required by any Priority Lien Document to grant
any Priority Lien upon any property, 
 then the senior trust arising hereunder will terminate (subject to any reinstatement pursuant to
Sections 3.8(e) or 7.21 hereof), except that all provisions set forth in Sections 7.11 and 7.12 that are enforceable by the Collateral Trustee or any of its co-trustees or agents (whether in an individual or representative capacity) will remain
enforceable in accordance with their terms. 
 The parties further declare and covenant that the Senior Trust Estate will be
held and distributed by the Collateral Trustee subject to the further agreements herein. 
 SECTION 2.2 Declaration of
Junior Trust. 
 To secure the payment of the Parity Lien Debt Obligations and in consideration of the premises and the
mutual agreements set forth herein, the Borrower and each of the Guarantors hereby confirms the grant to the Collateral Trustee, and the Collateral Trustee hereby accepts and agrees to hold, in trust under this Agreement for the benefit of all
current and future Parity Lien Secured Parties, all of the Borrower’s and each such Guarantor’s right, title and interest in, to and under all Collateral now or hereafter granted to the Collateral Trustee under any Parity Lien Security
Document for the benefit of the Parity Lien Secured Parties, together with all of the Collateral Trustee’s right, title and interest in, to and under the Parity Lien Security Documents, and all interests, rights, powers and remedies of the
Collateral Trustee thereunder or in respect thereof and all cash and non-cash proceeds thereof (collectively, the “Junior Trust Estate,” and together with the Senior Trust Estate, the “Trust Estates”).

 The Collateral Trustee and its successors and assigns under this Agreement will hold the Junior Trust Estate in trust for the
benefit solely and exclusively of all current and future Parity Lien Secured Parties as security for the payment of all present and future Parity Lien Debt Obligations. 
 Notwithstanding the foregoing, if at any time: 
 (1) all Liens
securing the Parity Lien Debt Obligations have been released as provided in Section 4.1; 
 (2) the
Collateral Trustee holds no other property in trust as part of the Junior Trust Estate; 

  
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 (3) no monetary obligation (other than indemnification and other contingent
obligations not then due and payable) is outstanding and payable under this Agreement to the Collateral Trustee or any of its co-trustees or agents (whether in an individual or representative capacity); and 

(4) the Borrower delivers to the Collateral Trustee an Officers’ Certificate stating that all Parity Liens of the
Collateral Trustee have been released in compliance with all applicable provisions of the Parity Lien Debt Documents and that the Borrower and the Guarantors are not required by any Parity Lien Debt Document to grant any Parity Lien upon any
property, 
 then the junior trust arising hereunder will terminate, except that all provisions set forth in Sections 7.11 and 7.12 that
are enforceable by the Collateral Trustee or any of its co-trustees or agents (whether in an individual or representative capacity) will remain enforceable in accordance with their terms. 

The parties further declare and covenant that the Junior Trust Estate will be held and distributed by the Collateral Trustee subject to
the further agreements herein. 
 SECTION 2.3 Priority of Liens. Notwithstanding anything else contained herein or in
any other Security Document, and notwithstanding the date, time, method, manner or order of grant, attachment or perfection of any Liens securing the Parity Lien Debt Obligations granted on the Collateral or of any Liens securing the Priority Lien
Debt Obligations granted on the Collateral and notwithstanding any provision of the UCC, the time of incurrence of any Series of Priority Lien Debt or Series of Parity Lien Debt or any other applicable law or the Parity Lien Debt Documents or any
defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens securing the Priority Lien Debt Obligations or any other circumstance whatsoever, whether or not any
Insolvency or Liquidation Proceeding has been commenced against the Borrower or any Guarantor, it is the intent of the parties that, and the parties hereby agree that: 

(1) this Agreement and the other Security Documents create two separate and distinct Trust Estates and Liens:
(i) the Senior Trust Estate and Priority Lien securing the payment and performance of the Priority Lien Debt Obligations and (ii) the Junior Trust Estate and Parity Lien securing the payment and performance of the Parity Lien Debt
Obligations; and 
 (2) any Liens on Collateral securing the Parity Lien Debt Obligations now or hereafter held
by the Collateral Trustee for the benefit of the Parity Lien Secured Parties or held by any Parity Lien Secured Party, in each case, whether by grant, possession, statute, operation of law, subrogation or otherwise, are subject and subordinate to
any Liens on Collateral securing the Priority Lien Debt Obligations. 
 For the avoidance of doubt, in the event that any holder
of Parity Lien Debt Obligations becomes a judgment lien creditor as a result of its enforcement of its rights as an unsecured creditor, such judgment lien shall be subject to the terms of this Agreement for all purposes hereof (including the
priority of Liens). 

  
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 SECTION 2.4 Restrictions on Enforcement of Parity Liens; Prohibition on Contesting
Liens 
 (a) . 
 (a) Until the Discharge of Priority Lien Debt Obligations, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Borrower or any Guarantor, the holders of Priority
Lien Debt Obligations will have, subject to the exceptions set forth below in clauses (1) through (4), the exclusive right to authorize and direct the Collateral Trustee with respect to each of the Priority Lien Security Documents and the
Parity Lien Security Documents and the Collateral including, without limitation, the exclusive right to authorize or direct the Collateral Trustee to enforce, collect or realize on any Collateral or exercise any other right or remedy with respect to
the Collateral (including, without limitation, the exercise of any right of setoff or any right under any lockbox agreement, account control agreement, landlord waiver or bailee’s letter or similar agreement or arrangement) and no Parity Lien
Debt Representative or holder of Parity Lien Debt Obligations may authorize or direct the Collateral Trustee with respect to such matters. Notwithstanding the foregoing, the holders of Parity Lien Debt Obligations may direct the Collateral Trustee:

 (1) without any condition or restriction whatsoever, at any time after the Discharge of Priority Lien Debt
Obligations; 
 (2) as necessary to redeem any Collateral in a creditor’s redemption permitted by law or to
deliver any notice or demand necessary to enforce (subject to the prior Discharge of Priority Lien Debt Obligations) any right to claim, take or receive proceeds of Collateral remaining after the Discharge of Priority Lien Debt Obligations in the
event of foreclosure or other enforcement of any Lien (other than Liens in favor of the Collateral Trustee or a Priority Lien Secured Party); 
 (3) as necessary to perfect or establish the priority (subject to Priority Liens) of the Parity Liens upon any Collateral, except that the holders of Parity Lien Debt Obligations may not require the
Collateral Trustee to take any action to perfect any Collateral through possession or control other than the Collateral Trustee taking any action for possession or control required by the holders of Priority Lien Debt Obligations and the Collateral
Trustee agreeing pursuant to Section 7.4 that the Collateral Trustee as agent for the benefit of the holders of Priority Lien Debt Obligations agrees to act as bailee and/or agent for the Collateral Trustee for the benefit of the holders of
Parity Lien Debt Obligations as specified in Section 7.4; or 
 (4) as necessary to create, prove, preserve
or protect (but not enforce) the Parity Liens upon any Collateral. 
 (b) Until the Discharge of Priority Lien Debt Obligations,
whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Borrower or any 

  
 19 

 
Guarantor, none of holders of the Parity Lien Debt Obligations, the Collateral Trustee (unless acting pursuant to an Act of Required Secured Parties) or any Parity Lien Debt Representative will:

 (1) request judicial relief, in an Insolvency or Liquidation Proceeding or in any other court, or take any
other action, that would hinder, delay, limit or prohibit the lawful exercise or enforcement of any right or remedy otherwise available to the holders of Priority Lien Debt Obligations in respect of the Priority Liens or that would limit,
invalidate, avoid or set aside any Priority Lien or subordinate the Priority Liens to the Parity Liens or grant the Parity Liens equal ranking to the Priority Liens; 

(2) oppose or otherwise contest any motion for relief from the automatic stay or for any injunction against foreclosure
or enforcement of Priority Liens made by any holder of Priority Lien Debt Obligations or any Priority Lien Debt Representative in any Insolvency or Liquidation Proceeding; 

(3) oppose or otherwise contest any lawful exercise by any holder of Priority Lien Debt Obligations or any Priority Lien
Debt Representative of the right to credit bid Priority Lien Debt at any sale of Collateral in foreclosure of Priority Liens; 
 (4) oppose or otherwise contest any other request for judicial relief made in any court by any holder of Priority Lien Debt Obligations or any Priority Lien Debt Representative relating to the lawful
enforcement of any Priority Lien; 
 (5) contest, protest or object to any foreclosure proceeding or action
brought by the Collateral Trustee, any Priority Lien Debt Representative or any holder of Priority Lien Debt Obligations or any other exercise by the Collateral Trustee, any Priority Lien Debt Representative or any holder of Priority Lien Debt
Obligations of any rights and remedies relating to the Collateral under the Priority Lien Debt Documents or otherwise and each Parity Lien Debt Representative on behalf of itself and each holder of Parity Lien Debt Obligations hereby waives any and
all rights it may have to object to the time or manner in which the Collateral Trustee, any Priority Lien Debt Representative or any holder of Priority Lien Debt Obligations seeks to enforce the Priority Lien Debt Obligations or the Priority Liens;
or 
 (6) contest or support any other Person in contesting, in any proceeding (including any Insolvency or
Liquidation Proceeding) the validity, enforceability, perfection, priority or extent of the Priority Liens. 
 Notwithstanding the foregoing,
both before and during an Insolvency or Liquidation Proceeding, the holders of Parity Lien Debt Obligations and the Parity Lien Debt Representatives may take any actions and exercise any and all rights that would be available to a holder of
unsecured claims, including, without limitation, the commencement of an Insolvency or Liquidation 

  
 20 

 
Proceeding against the Borrower or any Guarantor in accordance with applicable law; provided, that the holders of Parity Lien Debt Obligations and the Parity Lien Debt Representatives may
not take any of the actions prohibited by clauses (1) through (6) of this Section 2.4(b) or oppose or contest any order that it has agreed not to oppose or contest under Section 2.8. 

(c) At any time prior to the Discharge of Priority Lien Debt Obligations and after (1) the commencement of any Insolvency or
Liquidation Proceeding in respect of the Borrower or any Guarantor or (2) the Collateral Trustee and each Parity Lien Debt Representative have received written notice from any Priority Lien Debt Representative at the direction of an Act of
Required Secured Parties stating that (A) any Series of Priority Lien Debt has become due and payable in full (whether at maturity, upon acceleration or otherwise) or (B) the holders of Priority Liens securing one or more Series of
Priority Lien Debt have become entitled under any Priority Lien Debt Documents to and desire to enforce any or all of the Priority Liens by reason of a default under such Priority Lien Debt Documents, no payment of money (or the equivalent of money)
shall be made from the proceeds of Collateral by the Borrower or any Guarantor to the Trustee, the Collateral Trustee (other than payments to the Collateral Trustee for the benefit of the holders of Priority Lien Debt Obligations) or any holder of
Parity Lien Debt Obligations (including, without limitation, payments and prepayments made for application to Parity Lien Debt Obligations and all other payments and deposits made pursuant to any provision of any Parity Lien Debt Document).

 (d) All proceeds of Collateral received by the Collateral Trustee, any Parity Lien Debt Representative or any holder of
Parity Lien Debt Obligations in violation of Section 2.4(b) or 2.4(c) will be held by the Collateral Trustee, the applicable Parity Lien Debt Representative or the applicable holder of Parity Lien Debt Obligations in trust for the account of
the holders of Priority Liens and remitted to the Collateral Trustee upon demand by the Collateral Trustee or any Priority Lien Debt Representative for application in accordance with Section 3.4 hereof . The Parity Liens will remain attached to
and enforceable against all proceeds so held or remitted until applied to satisfy the Priority Lien Debt Obligations. All proceeds of Collateral received by the Collateral Trustee, holders of Parity Lien Debt Obligations and Parity Lien Debt
Representatives not in violation of Section 2.4(b) or 2.4(c) will be received by the Collateral Trustee, holders of Parity Lien Debt Obligations and the Parity Lien Debt Representatives free from the Priority Liens and all other Liens except
the Parity Liens. 
 SECTION 2.5 Waiver of Right of Marshaling. 

(a) Prior to the Discharge of Priority Lien Debt Obligations, holders of Parity Lien Debt Obligations, each Parity Lien Debt
Representative and the Collateral Trustee may not assert or enforce any right of marshaling accorded to a junior lienholder, as against the holders of Priority Lien Debt Obligations or the Priority Lien Debt Representatives (in their capacity as
priority lienholders). 
 (b) Following the Discharge of Priority Lien Debt Obligations, the holders of Parity Lien Debt
Obligations and any Parity Lien Debt Representative may assert their right under the UCC or otherwise to any proceeds remaining following a sale or other disposition of Collateral by, or on behalf of, the holders of Priority Lien Debt Obligations.

  
 21 

 SECTION 2.6 Discretion in Enforcement of Priority Liens. 

(a) In exercising rights and remedies with respect to the Collateral, at any time prior to a Discharge of Priority Lien Debt Obligations
the holders of Priority Lien Debt Obligations and the Priority Lien Debt Representatives may enforce (or refrain from enforcing) the provisions of the Priority Lien Debt Documents and exercise (or refrain from exercising) remedies thereunder or any
such rights and remedies, all in such order and in such manner as they may determine in the exercise of their sole and exclusive discretion, including: 
 (1) the exercise or forbearance from exercise of all rights and remedies in respect of the Collateral and/or the Priority Lien Debt Obligations; 

(2) the enforcement or forbearance from enforcement of any Priority Lien in respect of the Collateral; 

(3) the exercise or forbearance from exercise of rights and powers of a holder of shares of stock included in the Senior
Trust Estate to the extent provided in the Priority Lien Security Documents; 
 (4) the acceptance of the
Collateral in full or partial satisfaction of the Priority Lien Debt Obligations; and 
 (5) the exercise or
forbearance from exercise of all rights and remedies of a secured lender under the UCC or any similar law of any applicable jurisdiction or in equity. 
 SECTION 2.7 Amendments to Priority Lien Debt Documents and Discretion in Enforcement of Priority Lien Debt Obligations. 
 (a) Without in any way limiting the generality of Section 2.6, the holders of Priority Lien Debt Obligations and the Priority Lien Debt Representatives may, at any time and from time to time, without
the consent of or notice to holders of Parity Lien Debt Obligations or the Parity Lien Debt Representatives, without incurring responsibility to holders of Parity Lien Debt Obligations and the Parity Lien Debt Representatives and without impairing
or releasing the subordination provided in this Agreement or the obligations hereunder of holders of Parity Lien Debt Obligations and the Parity Lien Debt Representatives, do any one or more of the following: 

(1) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, the Priority Lien
Debt Obligations, or otherwise amend or supplement in any manner the Priority Lien Debt Obligations, or any instrument evidencing the Priority Lien Debt Obligations or any agreement under which the Priority Lien Debt Obligations are outstanding
including, without limitation, increasing the principal amount thereof and/or the Applicable Margin or similar component of interest rate; 

  
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 (2) release any Person or entity liable in any manner for the collection of
the Priority Lien Debt Obligations; 
 (3) release the Priority Lien on any Collateral; and 

(4) exercise or refrain from exercising any rights against any Guarantor. 

SECTION 2.8 Insolvency or Liquidation Proceedings. 

(a) If in any Insolvency or Liquidation Proceeding and prior to the Discharge of Priority Lien Debt Obligations, the holders of Priority
Lien Debt Obligations by an Act of Required Secured Parties consent to any order: 
 (1) for use of cash
collateral; 
 (2) approving a debtor-in-possession financing secured by a Lien that is senior to or on a parity
with all Priority Liens upon any property of the estate in such Insolvency or Liquidation Proceeding; 
 (3)
granting any relief on account of Priority Lien Debt Obligations as adequate protection (or its equivalent) for the benefit of the holders of Priority Lien Debt Obligations in the Collateral subject to Priority Liens; or 

(4) relating to a sale of assets of the Borrower or any Guarantor (including with respect to the process or procedures
for such sale) that provides, to the extent the Collateral sold is to be free and clear of Liens, that all Priority Liens and Parity Liens will attach to the proceeds of the sale; 
 then, the holders of Parity Lien Debt Obligations and the Parity Lien Debt Representatives, in their capacity as holders or representatives of secured claims, will not oppose or otherwise contest the
entry of such order, so long as none of the holders of Priority Lien Debt Obligations or Priority Lien Debt Representatives in any respect opposes or otherwise contests any request made by any holder of Parity Lien Debt Obligations or Parity Lien
Debt Representative for the grant to the Collateral Trustee, for the benefit of the holders of Parity Lien Debt Obligations and the Parity Lien Debt Representatives, of a junior Lien upon any property on which a Lien is (or is to be) granted under
such order to secure the Priority Lien Debt Obligations, co-extensive in all respects with, but subordinated (as set forth in Section 2.3) to, such Lien and all Priority Liens on such property. 

Notwithstanding the foregoing, both before and during an Insolvency or Liquidation Proceeding, the holders of Parity Lien Debt
Obligations and the Parity Lien Debt Representatives may take any actions and exercise any and all rights that would otherwise be available to a holder of unsecured claims, including, without limitation, the commencement of Insolvency or Liquidation
Proceedings against the Borrower or any Guarantor in accordance with applicable law; provided, however, that, both before and during an Insolvency or 

  
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Liquidation Proceeding, the holders of Parity Lien Debt Obligations and the Parity Lien Debt Representatives may not take any of the actions prohibited under Section 2.4(b) or oppose or
contest any order that it has agreed not to oppose or contest under clauses (1) through (4) of the preceding paragraph. 
 (b) The holders of Parity Lien Debt Obligations or any Parity Lien Debt Representative will not file or prosecute in any Insolvency or Liquidation Proceeding any motion for adequate protection (or any
comparable request for relief) based upon their interest in the Collateral under the Parity Liens, except that: 

(1) they may freely seek and obtain relief: (A) granting a junior Lien co-extensive in all respects with, but
subordinated (as set forth in Section 2.3) to, all Liens granted in such Insolvency or Liquidation Proceeding to, or for the benefit of, the holders of Priority Lien Debt Obligations; or (B) in connection with the confirmation of any plan
of reorganization or similar dispositive restructuring plan; and 
 (2) they may freely seek and obtain any
relief upon a motion for adequate protection (or any comparable relief), without any condition or restriction whatsoever, at any time after the Discharge of Priority Lien Debt Obligations. 

(c) If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the
reorganized debtor are distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, both on account of Priority Lien Debt Obligations and on account of Parity Lien Debt Obligations, then, to the extent the debt
obligations distributed on account of the Priority Lien Debt Obligations and on account of the Parity Lien Debt Obligations are secured by Liens upon the same property, the provisions of this Agreement will survive the distribution of such debt
obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 
 (d) None of
the Parity Lien Debt Representatives, any holder of Parity Lien Debt Obligations, nor the Collateral Trustee acting on their behalf shall oppose or seek to challenge any claim by the Priority Lien Debt Representatives, any holder of Priority Lien
Debt Obligations or the Collateral Trustee on their behalf for allowance in any Insolvency or Liquidation Proceeding of Priority Lien Obligations consisting of post-petition Interest to the extent of the value of any holder of Priority Lien Debt
Obligations’ Lien, without regard to the existence of the Lien of the Collateral Trustee on behalf of the holders of Parity Lien Debt Obligations on the Collateral. None of the Priority Lien Representatives, any other holder of Priority Lien
Obligations, nor the Collateral Trustee acting on their behalf shall oppose or seek to challenge any claim by the Parity Lien Debt Representatives, any holder of Parity Lien Debt Obligations or the Collateral Trustee on their behalf for allowance in
any Insolvency or Liquidation Proceeding of Parity Lien Debt Obligations consisting of post-petition interest to the extent of the value of the Lien of the Collateral Trustee for the benefit of the Parity Lien Debt Representatives on behalf of the
holders of Parity Lien Debt Obligations on the Collateral (in each case, after taking into account the value of the Priority Lien Debt Obligations). 

  
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 (e) The parties to this Agreement acknowledge that this Agreement is a “subordination
agreement” under section 510(a) of the Bankruptcy Code, which will be effective before, during and after the commencement of an Insolvency Proceeding. All references in this Agreement to the Borrower or any Guarantor will include such Person as
a debtor-in-possession and any receiver or trustee for such Person in an Insolvency Proceeding. 
 SECTION 2.9 Collateral
Shared Equally and Ratably within Class. The parties to this Agreement agree that the payment and satisfaction of all of the Secured Obligations within each Class will be secured equally and ratably by the Liens established in favor of the
Collateral Trustee for the benefit of the Secured Parties belonging to such Class, notwithstanding the time of incurrence of any Secured Obligations within such Class or time or method of creation or perfection of any Liens securing such Secured
Obligations within such Class. It is understood and agreed that nothing in this Section 2.9 is intended to alter the priorities among Secured Parties belonging to different Classes as provided in Section 2.3. 

SECTION 2.10 No New Liens. So long as the Discharge of Priority Lien Debt Obligations has not occurred, whether or not any
Insolvency or Liquidation Proceeding has been commenced by or against the Borrower or any or any Guarantor, the parties hereto agree that the Borrower will not, and will not permit any Guarantor to: 

(a) grant or permit any additional Liens on any asset or property to secure any Parity Lien Obligation unless it has granted or
concurrently grants a Lien on such asset or property to secure all of the Priority Lien Debt Obligations, the parties hereto agreeing that any such Lien shall be subject to Section 2.3 hereof; or 

(b) grant or permit any additional Liens on any asset or property to secure any Priority Lien Debt Obligations unless it has granted or
concurrently grants a Lien on such asset or property to secure all of the Parity Lien Debt Obligations. 
 Notwithstanding the
foregoing or Section 2.11, the Borrower or any Guarantor may grant or permit Liens on cash or cash equivalents to the issuers of letters of credit (and/or any lenders participating in the facilities under which such letters of credit are
issued) to satisfy requirements set forth in the reimbursement agreement for such letters of credit or the related facilities with respect to the cash collateralization of such letters of credit without granting a lien on such cash or cash
equivalents to secure any other Secured Obligation. 
 SECTION 2.11 Similar Liens and Agreements. The parties hereto
agree that it is their intention that the Collateral for the Priority Lien Debt Obligations and the Collateral for the Parity Lien Debt Obligations be identical. In furtherance of the foregoing, the parties hereto agree, subject to the other
provisions of this Agreement, that the Security Documents creating or evidencing the Priority Liens and the Parity Liens, will be in all material respects the same forms of documents other than as is necessary or appropriate to reflect the first
lien and second lien nature of the Obligations thereunder. 

  
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 ARTICLE 3. OBLIGATIONS AND POWERS OF COLLATERAL TRUSTEE 

SECTION 3.1 Appointment and Undertaking of the Collateral Trustee. 

(a) Each Hedge Provider, each Bank Product Provider and each other Secured Party acting through its respective Secured Debt
Representative, and/or by its acceptance of the benefits of the Security Documents hereby appoints the Collateral Trustee to serve as collateral trustee hereunder on the terms and conditions set forth herein. Subject to, and in accordance with, this
Agreement, the Collateral Trustee will, as collateral trustee, for the benefit solely and exclusively of the present and future Secured Parties, in accordance with the terms of this Agreement: 

(1) accept, enter into, hold, maintain, administer and enforce all Security Documents, including all Collateral subject
thereto, and all Liens created thereunder, perform its obligations hereunder and under the Security Documents and protect, exercise and enforce the interests, rights, powers and remedies granted or available to it under, pursuant to or in connection
with the Security Documents; 
 (2) take all lawful and commercially reasonable actions permitted under the
Security Documents that it may deem necessary or advisable to protect or preserve its interest in the Collateral subject thereto and such interests, rights, powers and remedies; 

(3) deliver and receive notices pursuant to this Agreement and the Security Documents; 

(4) sell, assign, collect, assemble, foreclose on, institute legal proceedings with respect to, or otherwise exercise or
enforce the rights and remedies of a secured party (including a mortgagee, trust deed beneficiary and insurance beneficiary or loss payee) with respect to the Collateral under the Security Documents and its other interests, rights, powers and
remedies; 
 (5) remit as provided in Section 3.4 all cash proceeds received by the Collateral Trustee from
the collection, foreclosure or enforcement of its interest in the Collateral under the Security Documents or any of its other interests, rights, powers or remedies; 

(6) execute and deliver (i) amendments and supplements to the Security Documents as from time to time authorized
pursuant to Section 7.1 accompanied by an Officers’ Certificate to the effect that the amendment or supplement was permitted under Section 7.1 and (ii) acknowledgements of Collateral Trust Joinders delivered pursuant to
Section 3.8, 3.9 or 7.21 hereof; and 
 (7) release any Lien granted to it by any Security Document upon
any Collateral if and as required by Section 3.2. 

  
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 (b) Each party to this Agreement acknowledges and consents to the
undertaking of the Collateral Trustee set forth in Section 3.1(a) and agrees to each of the other provisions of this Agreement applicable to the Collateral Trustee. 

(c) Notwithstanding anything to the contrary contained in this Agreement, the Collateral Trustee will not commence any
exercise of remedies or any foreclosure actions or otherwise take any action or proceeding against any of the Collateral (other than actions as necessary to prove, protect or preserve the Liens securing the Secured Obligations) unless and until it
shall have been directed in writing by an Act of Required Secured Parties and then only in accordance with the provisions of this Agreement. 
 (d) Notwithstanding anything to the contrary contained in this Agreement, no Parity Lien Debt Representative or Priority Lien Debt Representative may serve as Collateral Trustee. In addition,
notwithstanding anything to the contrary contained in this Agreement, neither the Borrower nor any of its Affiliates may serve as Collateral Trustee. 
 SECTION 3.2 Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of
the Collateral Trustee, except: 
 (a) as directed by an Act of Required Secured Parties accompanied by an Officers’
Certificate to the effect that the release or subordination was permitted by each applicable Secured Debt Document; 
 (b) as
required by Article 4; 
 (c) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a
court of competent jurisdiction; or 
 (d) for the subordination of the Junior Trust Estate and the Parity Liens to the Senior
Trust Estate and the Priority Liens. 
 SECTION 3.3 Enforcement of Liens. If the Collateral Trustee at any time receives
written notice that any event has occurred that constitutes a default under any Secured Debt Document entitling the Collateral Trustee to foreclose upon, collect or otherwise enforce its Liens under the Security Documents, the Collateral Trustee
will promptly deliver written notice thereof to each Secured Debt Representative. Thereafter, the Collateral Trustee may await direction by an Act of Required Secured Parties and will act, or decline to act, as directed by an Act of Required Secured
Parties, in the exercise and enforcement of the Collateral Trustee’s interests, rights, powers and remedies in respect of the Collateral or under the Security Documents or applicable law and, following the initiation of such exercise of
remedies, the Collateral Trustee will act, or decline to act, with respect to the manner of such exercise of remedies as directed by an Act of Required Secured Parties. Unless it has been directed to the contrary by an Act of Required Secured
Parties, the Collateral Trustee in any event may (but will not be obligated to) take or refrain from taking such action with respect to any default under any Secured Debt Document as it may deem advisable and in the best interest of the holders of
Secured Obligations. 

  
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 SECTION 3.4 Application of Proceeds. 

(a) The Collateral Trustee will apply the proceeds of any collection, sale, foreclosure or other realization upon, or exercise of any
right or remedy with respect to, any Collateral and the proceeds of any title insurance or other insurance policy required under any Priority Lien Document or Parity Lien Debt Document or otherwise covering the Collateral in the following order of
application: 
 FIRST, to the payment of all amounts payable under this Agreement on account of the Collateral
Trustee’s fees and any reasonable legal fees, costs and expenses or other liabilities of any kind incurred by the Collateral Trustee or any co-trustee or agent of the Collateral Trustee in connection with any Security Document (including, but
not limited to, indemnification obligations that are then due and payable); 
 SECOND, to the repayment of
Indebtedness and other Obligations, other than Secured Obligations, secured by a Lien on the Collateral sold or realized upon to the extent that such other Lien has priority over the Lien of the Collateral Trustee if such Indebtedness or Obligation
is required to be discharged (in whole or in part) in connection with such sale; 
 THIRD, to the respective
Priority Lien Debt Representatives, Hedge Providers and Bank Product Providers equally and ratably for application to the payment of all outstanding Priority Lien Debt and any other Priority Lien Debt Obligations that are then due and payable (for
application in such order as may be provided in the Priority Lien Debt Documents applicable to the respective Priority Lien Debt Obligations) in an amount sufficient to pay in full in cash all outstanding Priority Lien Debt and all other Priority
Lien Debt Obligations that are then due and payable (including all interest and fees accrued thereon after the commencement of any Insolvency or Liquidation Proceeding at the rate, including any applicable post-default rate, specified in the
Priority Lien Debt Documents, even if such interest is not enforceable, allowable or allowed as a claim in such proceeding, and including the discharge or cash collateralization (at the lower of (1) 105% of the aggregate undrawn amount and
(2) the percentage of the aggregate undrawn amount required for release of Liens under the terms of the applicable Priority Lien Document) of all outstanding letters of credit constituting Priority Lien Debt); 

FOURTH, to the respective Parity Lien Debt Representatives equally and ratably for application to the payment of all
outstanding Parity Lien Debt and any other Parity Lien Debt Obligations that are then due and payable (for application in such order as may be provided in the Parity Lien Debt Documents applicable to the respective Parity Lien Debt Obligations) in
an amount sufficient to pay in full in cash all outstanding Parity Lien Debt and all other Parity Lien Debt Obligations that are then due and payable 

  
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(including, to the extent legally permitted, all interest and fees accrued thereon after the commencement of any Insolvency or Liquidation Proceeding at the rate, including any applicable
post-default rate, specified in the Parity Lien Debt Documents, even if such interest is not enforceable, allowable or allowed as a claim in such proceeding, and including the discharge or cash collateralization (at the lower of (1) 105% of the
aggregate undrawn amount and (2) the percentage of the aggregate undrawn amount required for release of Liens under the terms of the applicable Parity Lien Debt Document) of all outstanding letters of credit, if any, constituting Parity Lien
Debt); and 
 FIFTH, any surplus remaining after the payment in full in cash of amounts described in the
preceding clauses will be paid to the Borrower or the applicable Guarantor, as the case may be, its successors or assigns, or to such other Persons as may be entitled to such amounts under applicable law or as a court of competent jurisdiction may
direct. 
 (b) If any Parity Lien Debt Representative or any holder of a Parity Lien Obligation collects or receives any
proceeds of such foreclosure, collection or other enforcement or proceeds of any title or other insurance that should have been applied to the payment of the Priority Lien Debt Obligations in accordance with Section 3.4(a) above, whether after
the commencement of an Insolvency or Liquidation Proceeding or otherwise, such Parity Lien Debt Representative or such holder of a Parity Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account
of the holders of the Priority Lien Debt Obligations, to be applied in accordance with Section 3.4(a). Until so delivered, such proceeds will be held by that Parity Lien Debt Representative or that holder of a Parity Lien Obligation, as the
case may be, for the benefit of the holders of the Priority Lien Debt Obligations. 
 (c) This Section 3.4 is intended for
the benefit of, and will be enforceable as a third party beneficiary by, each present and future holder of Secured Obligations, each present and future Secured Debt Representative and the Collateral Trustee as holder of Priority Liens and Parity
Liens. The Secured Debt Representative of each future Series of Secured Debt will be required to deliver a Collateral Trust Joinder including a lien sharing and priority confirmation as provided in Section 3.8 at the time of incurrence of such
Series of Secured Debt. 
 (d) In connection with the application of proceeds pursuant to Section 3.4(a), except as
otherwise directed by an Act of Required Secured Parties, the Collateral Trustee may sell any non-cash proceeds for cash prior to the application of the proceeds thereof. 
 (e) In making the determinations and allocations in accordance with Section 3.4(a), the Collateral Trustee may conclusively rely upon information supplied by the relevant Priority Lien Debt
Representative, Hedge Provider and Bank Product Provider as to the amounts of unpaid principal and interest and other amounts outstanding with respect to its respective Priority Lien Debt and any other Priority Lien Debt Obligations and the amount
of any “settlement amount” (or similar term) of any Hedge Agreements included in the Priority Lien Debt Obligations and information supplied by the relevant Parity Lien Debt Representative as to the amounts of unpaid principal and interest
and other amounts outstanding with respect to its respective Parity Lien Debt and any other Parity Lien Debt Obligations. In calculating the amount of Secured Obligations owed to any Hedge Provider, the Secured Obligations owed to

  
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such Hedge Provider shall be determined by the relevant Hedge Provider in accordance with the terms of the relevant Hedge Agreement; provided that, notwithstanding anything herein or in any other
Secured Obligations Document to the contrary, in the event that any such Hedge Agreement consists of more than one confirmation or trade or in the event that the relevant Hedge Provider is a party to any other Hedge Agreement, solely for purposes of
calculating the Secured Obligations owed to such Hedge Provider under this Agreement, such calculation shall setoff and net all Obligations owing to such Hedge Provider or owed by such Hedge Provider under each such confirmation or trade and/or
additional Hedge Agreement. 
 SECTION 3.5 Powers of the Collateral Trustee. 

(a) The Collateral Trustee is irrevocably authorized and empowered to enter into and perform its obligations and protect, perfect,
exercise and enforce its interest, rights, powers and remedies under the Security Documents and applicable law and in equity and to act as set forth in this Article 3 or, subject to the other provisions of this Agreement, as requested in any
lawful directions given to it from time to time in respect of any matter by an Act of Required Secured Parties. 
 (b) No
Secured Debt Representative or holder of Secured Obligations (other than the Collateral Trustee) will have any liability whatsoever for any act or omission of the Collateral Trustee. 

SECTION 3.6 Documents and Communications. The Collateral Trustee will permit each Secured Debt Representative and each holder of
Secured Obligations upon reasonable written notice from time to time to inspect and copy, at the cost and expense of the party requesting such copies, any and all Security Documents and other documents, notices, certificates, instructions or
communications received by the Collateral Trustee in its capacity as such. 
 SECTION 3.7 For Sole and Exclusive Benefit of
Holders of Secured Obligations. The Collateral Trustee will accept, hold, administer and enforce all Liens on the Collateral at any time transferred or delivered to it and all other interests, rights, powers and remedies at any time granted to
or enforceable by the Collateral Trustee and all other property of the Trust Estates solely and exclusively for the benefit of the present and future holders of present and future Secured Obligations, and will distribute all proceeds received by it
in realization thereon or from enforcement thereof solely and exclusively pursuant to the provisions of Section 3.4. 

  
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 SECTION 3.8 Additional Secured Debt. 

(a) The Collateral Trustee will, as collateral trustee hereunder, perform its undertakings set forth in Section 3.1(a) with respect
to any Secured Obligations constituting a Series of Secured Debt that is issued or incurred after the date hereof if: 
 (1) such Secured Obligations are identified as Parity Lien Debt or Priority Lien Debt in accordance with the procedures set forth in Section 3.8(b); and 

(2) the designated Secured Debt Representative identified pursuant to Section 3.8(b) signs a Collateral Trust
Joinder and delivers the same to the Collateral Trustee. 
 (b) The Borrower will be permitted to designate as an additional
holder of Secured Obligations hereunder each Person who is, or who becomes, the registered holder of Parity Lien Debt or the holder of Priority Lien Debt incurred by the Borrower or any Guarantor after the date of this Agreement in accordance with
the terms of all applicable Secured Debt Documents. The Borrower may only effect such designation by delivering to the Collateral Trustee an Additional Secured Debt Designation that: 

(1) states that the Borrower or such Guarantor intends to incur additional Secured Debt (“Additional Secured
Debt”) which will either be (i) Priority Lien Debt not prohibited by any Secured Debt Document to be incurred and secured by a Priority Lien equally and ratably with all previously existing and future Priority Lien Debt or
(ii) Parity Lien Debt not prohibited by any Secured Debt Document to be incurred and secured with a Parity Lien equally and ratably with all previously existing and future Parity Lien Debt; 

(2) specifies the name and address of the Secured Debt Representative for such series of Additional Secured Debt for
purposes of this Agreement including Section 7.7; 
 (3) states that the Borrower and each Guarantor has
duly authorized, executed (if applicable) and recorded (or caused to be recorded) in each appropriate governmental office all relevant filings and recordations to ensure that the Additional Secured Debt is secured by the Collateral in accordance
with the Security Documents; 
 (4) attaches as Exhibit 1 to such Additional Secured Debt Designation a
Reaffirmation Agreement in substantially the form attached as Exhibit 1 to Exhibit A of this Agreement, which Reaffirmation Agreement has been duly executed by the Borrower and each Guarantor; and 

(5) states that the Borrower has caused a copy of the Additional Secured Debt Designation and the related Collateral
Trust Joinder to be delivered to each then existing Secured Debt Representative. 

  
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 Although the Borrower shall be required to deliver a copy of each Additional Secured Debt Designation and
each Collateral Trust Joinder to each then existing Secured Debt Representative, the failure to so deliver a copy of the Additional Secured Debt and/or Collateral Trust Joinder to any then existing Secured Debt Representative shall not affect the
status of such debt as Additional Secured Debt if the other requirements of this Section 3.8 are complied with. The Borrower shall also provide a legal opinion of counsel to the Collateral Trustee and any Secured Debt Representative as to the
Additional Secured Debt being secured by a valid and perfected security interest in the Collateral; provided, however, that such legal opinion or opinions need not address any collateral of a type or located in a jurisdiction not
previously covered by any legal opinion delivered by or on behalf of the Borrower. Notwithstanding the foregoing, nothing in this Agreement will be construed to allow the Borrower or any Guarantor to incur additional Indebtedness or Liens if
prohibited by the terms of any Secured Debt Documents. 
 (c) With respect to any Secured Obligations constituting a Series of
Secured Debt that is issued or incurred after the date hereof, the Borrower and each of the Guarantors agrees to take such actions (if any) as necessary and appropriate and as may from time to time reasonably be requested by the Collateral Trustee,
any Priority Lien Debt Representative, any Parity Lien Debt Representative or any Act of Required Secured Parties, and enter into such technical amendments, modifications and/or supplements to the then existing Guarantees and Security Documents (or
execute and deliver such additional Security Documents) as may from time to time be reasonably requested by such Persons (including as contemplated by clause (d) below), to ensure that the Additional Secured Debt is secured by, and entitled to
the benefits of, the relevant Security Documents, and each Secured Party (by its acceptance of the benefits hereof) hereby agrees to, and authorizes the Collateral Trustee to enter into, any such technical amendments, modifications and/or
supplements (and additional Security Documents). The Borrower and each Guarantor hereby further agree that, if there are any recording, filing or other similar fees payable in connection with any of the actions to be taken pursuant to this
Section 3.8(c) or Section 3.8(d), all such amounts shall be paid by, and shall be for the account of, the Borrower and the respective Guarantors, on a joint and several basis. 

(d) Without limitation of the foregoing, the Borrower and each of the Guarantors agree to take the following actions with respect to any
real property Collateral with respect to all Additional Secured Debt: 
 (1) the Borrower and the applicable
Guarantors shall enter into, and deliver to the Collateral Trustee a mortgage modification (each such modification, a “Modification”) or new mortgage or deed of trust with regard to each real property subject to a mortgage or
deed of trust (each such mortgage or deed of trust a “Mortgage,” and each such property a “Mortgaged Property”), with such changes as may be required to account for local law matters, at the time of
such incurrence, in proper form for recording in all applicable jurisdictions, in a form and substance reasonably satisfactory to the Collateral Trustee, the Controlling Representative and the Borrower and such Guarantors are jointly and severally
liable to pay all filing and recording fees and taxes, documentary stamp taxes and other taxes, charges and fees, if any, necessary for filing or recording in the recording office of each jurisdiction where such real property to be encumbered
thereby is situated; 

  
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 (2) the Borrower or the applicable Guarantor will cause to be delivered a
local counsel opinion with respect to each such Mortgaged Property in form and substance, and issued by law firms, in each case, reasonably satisfactory to the Collateral Trustee and the Controlling Representative; 

(3) the Borrower or the applicable Guarantor will cause a title company reasonably acceptable to the Controlling
Representative to have delivered to the Collateral Trustee a title insurance policy (or, as applicable, an endorsement to each title insurance policy previously delivered to the Collateral Trustee with respect to the Mortgage or Mortgages for such
Class of Secured Obligations), date down(s) or other evidence reasonably satisfactory to the Controlling Representative (which may include a new title insurance policy) (each such delivery, a “Title Datedown Product”), in
each case insuring that (i) the validity, enforceability and priority of the Liens of the applicable Mortgage(s) as security for the Priority Lien Debt Obligations or Parity Lien Debt Obligations, as applicable, (including such Additional
Secured Debt) has not changed and, if a new Mortgage is entered into, that the Lien of such new Mortgage securing the Priority Lien Debt or Parity Lien Debt, as applicable, then being incurred shall be enforceable and have the same priority as any
existing Mortgage securing then existing Priority Lien Debt Obligations or Parity Lien Debt Obligations, as applicable, (ii) confirming and/or insuring that since the later of the original date of such title insurance product and the date of
the Title Datedown Product delivered most recently prior to (and not in connection with) such Additional Secured Debt, there has been no change in the condition of title and (iii) there are no intervening liens or encumbrances which may then or
thereafter take priority over the Lien of the applicable Mortgage(s), in each case other than with respect to Liens permitted by each Secured Debt Document (without adding any additional exclusions or exceptions to coverage); and 

(4) the Borrower or the applicable Guarantor shall deliver to the approved title company, the Collateral Trustee and/or
all other relevant third parties all other items reasonably necessary to record each such Mortgage and Modification, to issue a Title Datedown Product and to create, perfect or preserve the validity, enforceability and priority of the Lien of the
mortgage(s) as set forth above and contemplated hereby and by the Secured Debt Documents. 
 (e) the Borrower shall have the
right at any time on or after the Discharge of Priority Lien Debt Obligations has occurred, to enter into any Priority Lien Document evidencing a Priority Lien Debt which incurrence is not prohibited by the applicable Secured Debt Documents, and to
designate such Indebtedness as Priority Lien Debt in accordance with Section 3.8(b). At any time from and after the date of such designation pursuant to Section 3.8(b) (the “Reference Date”), subject to compliance
with Sections 3.8(c) and (d), the obligations under such Priority Lien Document shall automatically and without further action be treated as Priority Lien Debt for all purposes of this Agreement, including for purposes of the Lien priorities and
rights in respect of Collateral set forth herein, and the Parity Lien Debt Obligations shall be at all times subordinated and junior to such Priority Liens Obligations pursuant to the terms of this Agreement, including with respect to Parity Lien
Debt Obligations that were incurred or outstanding on or prior to the Reference Date. 

  
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 SECTION 3.9 Hedging Obligations and Bank Product Obligations. 

(a) The Collateral Trustee will, as collateral trustee hereunder, also perform its undertakings set forth in Section 3.1(a) with
respect to any Hedging Obligations or Bank Product Obligations under a Hedge Agreement or agreement giving rise to Bank Product Obligations that is incurred after the date hereof if: 

(1) such Hedge Agreement (and each Swap Transaction in respect thereof) or agreement giving rise to Bank Product
Obligations is identified in accordance with the procedures set forth in Section 3.9(b); and 
 (2) the
Hedge Provider or Bank Product Provider, as applicable, identified pursuant to Section 3.9(b) signs a Collateral Trust Joinder and delivers the same to the Collateral Trustee (it being understood and agreed that only one Collateral Trust
Joinder will be required for each Hedge Agreement and that separate Collateral Trust Joinders will not be required for each Swap Transaction thereunder). 
 (b) Each time that the Borrower enters into (i) any Interest Rate Agreement or Currency Agreement that the Borrower desires to designate as a Hedge Agreement, (ii) any Swap Transaction under any
Hedge Agreement or (iii) any agreement giving rise to Bank Product Obligations, the Borrower shall deliver to the Collateral Trustee an Additional Secured Obligations Designation that: 

(1) states that the Borrower or Guarantor intends to incur such Hedging Obligations or Bank Product Obligations, as
applicable, which will be Priority Lien Debt Obligations and that no Secured Debt Document prohibits the incurrence thereof or prohibits such Hedging Obligations or Bank Product Obligations to be secured by a Priority Lien equally and ratably with
all previously existing and future Priority Lien Debt Obligations; 
 (2) specifies the name and address of the
relevant Hedge Provider or Bank Product Provider and identifies the Hedge Agreement, Swap Transaction or agreement giving rise to Bank Product Obligations, as applicable; 

(3) states that the Borrower and each Guarantor has duly authorized, executed (if applicable) and recorded (or caused to
be recorded) in each appropriate governmental office all relevant filings and recordations to ensure that such Hedging Obligations or Bank Product Obligations are secured by the Collateral in accordance with the Security Documents; 

(4) attaches as Exhibit 1 to such Additional Secured Obligation Designation a Reaffirmation Agreement in substantially
the form attached as Exhibit 1 to Exhibit D of this Agreement, which Reaffirmation Agreement has been duly executed by the Borrower and each Guarantor; and 

  
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 (5) states that the Borrower has caused a copy of the Additional Secured
Obligation Designation and the related Collateral Trust Joinder to be delivered to each then existing Secured Debt Representative. 
 Although
the Borrower shall be required to deliver a copy of each Additional Secured Obligation Designation and each Collateral Trust Joinder to each then existing Secured Debt Representative, the failure to so deliver a copy of the Additional Secured
Obligation Designation and/or Collateral Trust Joinder to any then existing Secured Debt Representative shall not affect the status of such obligations as Secured Obligations if the other requirements of this Section 3.9 are complied with.
Notwithstanding the foregoing, nothing in this Agreement will be construed to allow the Borrower or any Guarantor to incur additional Indebtedness or Liens or enter into any Swap Transactions if prohibited by the terms of any Secured Debt Document.

 (c) With respect to any Hedging Obligations, the Borrower and each of the Guarantors agrees to take such actions (if any) as
necessary and appropriate and as may from time to time reasonably be requested by the Collateral Trustee, any Priority Lien Debt Representative or any Act of Required Secured Parties, and enter into such amendments, modifications and/or supplements
to the then existing Guarantees and Security Documents (or execute and deliver such additional Security Documents) as may from time to time be reasonably requested by such Persons (including as contemplated by clause (d) below), to ensure that
the Hedging Obligations incurred after the date hereof are secured by, and entitled to the benefits of, the relevant Security Documents, and each Secured Party (by its acceptance of the benefits hereof) hereby agrees to, and authorizes the
Collateral Trustee to enter into, any such amendments, modifications and/or supplements (and additional Security Documents). The Borrower and each Guarantor hereby further agree that if there are any recording, filing or other similar fees or taxes
payable in connection with any of the actions to be taken pursuant to this Section 3.9(c) or Section 3.9(d) all such amounts shall be paid by, and shall be for the account of, the Borrower and the respective Guarantors, on a joint and
several basis. 
 (d) Without limitation of the foregoing, the Borrower and each of the Guarantor agrees to take the following
actions with respect to any real property Collateral with respect to all Hedge Agreements and Swap Transactions thereunder hereafter entered into in the event that any Mortgage with respect to any Mortgaged Property would not be valid and
enforceable and/or the priority of the liens evidenced by, or the continuing validity, enforceability and/or priority of the Lien of such Mortgages as security for, the Priority Lien Debt Obligations would be changed by reason of such Hedge
Agreement or Swap Transaction: 
 (1) the Borrower or the applicable Guarantor shall enter into, and deliver to
the Collateral Trustee, a mortgage modification or new mortgage or deed of trust with regard to each real property subject to a mortgage or deed of trust (each such mortgage or deed of trust a “Hedge Mortgage” and each such
property a “Hedge Mortgaged Property” which, if necessary to continue the validity or enforceability and/or to maintain the same priority of the existing Mortgage(s) for the other Priority Lien Debt Obligations with respect
to such Hedge Mortgaged Property, may be a subordinate lien mortgage with respect to such Hedge Agreement and Swap Transactions, with such changes as may be required to account for local law matters) at the time of such incurrence, in proper form
for recording in all 

  
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applicable jurisdictions, in a form and substance reasonably satisfactory to the Collateral Trustee and the Controlling Representative along with payment of all filing and recording taxes,
documentary stamp taxes, and similar taxes, charges, and fees, if any, necessary for filing or recording in the recording office of each jurisdiction where such real property to be encumbered thereby is situated (such Mortgage or mortgage
modification, the “Hedge Modification”); 
 (2) the Borrower or the applicable Guarantor
shall deliver a favorable opinion of appropriate local counsel, addressed to the Controlling Representative, the Collateral Trustee and the other Secured Parties, in form and substance reasonably satisfactory to the Controlling Representative;

 (3) the Borrower or the applicable Guarantor shall have caused a title company reasonably acceptable to the
Controlling Representative to have delivered to the Controlling Representative and the Collateral Trustee a title insurance policy (or, as applicable, an endorsement to each title insurance policy previously delivered to the Collateral Trustee with
respect to the Mortgage or Mortgages for the other Priority Lien Debt Obligations), date down(s) or other evidence reasonably satisfactory to the Controlling Representative (each such delivery, a “Hedge Title Datedown
Product”) in each case (i) insuring that the validity, enforceability and priority of the liens with respect to, or the continuing validity, enforceability and priority of the Lien of the mortgages as security for, the Hedging
Obligations and any other Priority Lien Debt Obligations has not changed and, if a new Mortgage is entered into, that the Lien of such new Mortgage securing the Hedging Obligations and any other Priority Lien Debt Obligations then being incurred
shall be enforceable and have the same priority as any existing Mortgage securing then existing Hedging Obligations and any other Priority Lien Debt Obligations, (ii) confirming and/or insuring that since the later of the original date of such
title insurance product and the date of the Hedge Title Datedown Product delivered most recently prior to (and not in connection with) such additional hedging obligations (including any comparable title datedown product delivered pursuant to
Section 3.8(d)) there has been no change in the condition of title and (iii) there are no intervening liens or encumbrances which may then or thereafter take priority over the Lien of the applicable Mortgage(s), in each case other than
with respect to Liens permitted by each Secured Debt Document (without adding any additional exclusions or exceptions to coverage); and 
 (4) the Borrower or the applicable Guarantor shall deliver to the approved title company, the Collateral Trustee, the Controlling Representative and/or all other relevant third parties all other items
reasonably necessary to (i) record a Hedge Modification, (ii) issue a Hedge Title Datedown Product and (iii) create, perfect or preserve the validity, enforceability and priority of the Lien of the mortgage(s) as set forth above and
contemplated hereby and by the Secured Obligations Documents. 
 In the event that the Borrower or the applicable Guarantor is unable to satisfy
the obligations set forth in clause (3) above with respect to the obligations in sub-clause (i) thereof and clause (4)

  
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above with respect to the obligations in sub-clauses (ii) and (iii) thereof, then, and only to the extent that the applicable Guarantor is unable to so comply with such sub-clauses, the
applicable Guarantor shall be required to (w) deliver a new Hedge Mortgage (with such changes as may be required to account for local law matters) with respect to such Hedge Mortgaged Property (which, if necessary to continue the validity or
enforceability and/or to maintain the same priority of the exiting Mortgage with respect to each such Hedge Mortgaged Property, may be a subordinate lien mortgage with respect to such Hedge Agreement or Swap Transaction (with such changes as may be
required to account for local law matters) and shall otherwise comply with the provisions of clause (1) above, (x) comply with the provisions of clause (2) and (y) deliver to the approved title company, the Collateral Trustee,
the Controlling Representative and/or all other relevant third parties all other items reasonably necessary to record the new Hedge Mortgage. 
 (e) The Borrower shall have the right, at any time on or after the Discharge of Priority Lien Debt Obligations has occurred, to enter into any Hedge Agreement evidencing Priority Lien Debt Obligations
which incurrence is not prohibited by the applicable Secured Debt Documents, and to designate such obligations as Priority Lien Debt Obligations in accordance with Section 3.9(b). At any time from and after the date of such designation pursuant
to Section 3.9(b) (the “Priority Lien Hedge Reference Date”), subject to compliance with Sections 3.9(c) and (d), the obligations under such Hedge Agreement shall automatically and without further action be treated as
Priority Lien Debt Obligations for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Collateral set forth herein, and the Parity Lien Debt Obligations shall be at all times subordinated and junior
to such Priority Lien Debt Obligations pursuant to the terms of this Agreement, including with respect to Parity Lien Debt Obligations that were incurred or outstanding on or prior to the Priority Lien Hedge Reference Date. 

ARTICLE 4. OBLIGATIONS ENFORCEABLE BY THE BORROWER AND THE 
 GUARANTORS 
 SECTION 4.1 Release of Liens on Collateral. 

(a) The Collateral Trustee’s Liens upon the Collateral will be released in any of the following circumstances: 

(1) in whole, upon (A) payment in full and discharge of all outstanding Secured Debt and all other Secured
Obligations that are outstanding, due and payable at the time all of the Secured Debt is paid in full and discharged and (B) termination or expiration of all commitments to extend credit under all Secured Debt Documents and the cancellation or
termination, cash collateralization (at the lower of (1) 105% of the aggregate undrawn amount and (2) the percentage of the aggregate undrawn amount required for release of Liens under the terms of the applicable Secured Debt Documents) of
all outstanding letters of credit issued pursuant to any 

  
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Secured Debt Documents or, solely to the extent if any agreed to by the issuer of any outstanding letter of credit issued pursuant to any Secured Debt Document, the issuance of a back to back
letter of credit in favor of the issuer of any such outstanding letter of credit in an amount at least equal to such outstanding letter of credit and issued by a financial institution acceptable to such issuer; 

(2) as to any Collateral that is sold, transferred or otherwise disposed of by the Borrower or any Guarantor to a Person
that is not (either before or after such sale, transfer or disposition) the Borrower or a Restricted Subsidiary (as defined under the Indenture) of the Borrower in a transaction or other circumstance that complies with Section 4.10 of the
Indenture, if any, and is permitted by all of the other Secured Debt Documents, at the time of such sale, transfer or other disposition or to the extent of the interest sold, transferred or otherwise disposed of; provided, that the Collateral
Trustee’s Liens upon the Collateral will not be released if the sale or disposition is subject to Section 5.01 of the Indenture; 
 (3) as to a release of less than all or substantially all of the Collateral, if (A) consent to the release of all Priority Liens (or, at any time after the Discharge of Priority Lien Debt
Obligations, the Parity Liens) on such Collateral has been given by an Act of Required Secured Parties or (B) the Priority Liens (or, at any time after the Discharge of Priority Lien Debt Obligations, the Parity Liens) on such collateral have
been automatically released pursuant to the Priority Lien Debt Documents; provided, that this clause (3) shall not apply to (i) Discharge of Priority Lien Debt Obligations upon payment in full thereof or (ii) sales or
dispositions subject to Section 5.01 of the Indenture; 
 (4) as to a release of all or substantially all
of the Collateral, if (A) consent to release of that Collateral has been given by the requisite percentage or number of holders of each Series of Secured Debt at the time outstanding as provided for in the applicable Secured Debt Documents and
(B) the Borrower has delivered an Officers’ Certificate to the Collateral Trustee certifying that any such necessary consents have been obtained; 
 (5) if any Guarantor is released from its obligations under each of the Parity Lien Debt Documents, then the Parity Liens on such Collateral and the obligations of such Guarantor under its Guarantee of
the Parity Lien Debt Obligations, shall be automatically, unconditionally and simultaneously released; 
 (6) as
to a release of any Collateral that is acquired by the Borrower or any Guarantor subject to, or is to be made subject to, a Lien in a transaction otherwise permitted by the Secured Debt Documents, and the terms of such Lien transaction required that
such Collateral not be subject to any Priority Lien or Parity Lien; and 
 (7) notwithstanding any of the
foregoing, if the Collateral Trustee is exercising its rights or remedies with respect to the Collateral under the Priority Lien Security Documents pursuant to an Act of Required Secured Parties, and the

  
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Collateral Trustee releases any of the Priority Liens on any part of the Collateral or any Guarantor is released from its obligations under its Guarantee of the Priority Lien Debt Obligations in
connection therewith, then the Parity Liens on such Collateral and the obligations of such Guarantor under its Guarantee of the Parity Lien Debt Obligations, shall be automatically, unconditionally and simultaneously released. If in connection with
any exercise of rights and remedies by the Collateral Trustee under the Priority Lien Security Documents pursuant to an Act of Required Secured Parties, the equity interests of any Person are foreclosed upon or otherwise disposed of and the
Collateral Trustee releases Priority Lien on the property or assets of such Person then the Parity Liens with respect to the property or assets of such Person will be concurrently and automatically released to the same extent as the Priority Liens
on such property or assets are released. 
 (b) The Collateral Trustee agrees for the benefit of the Borrower and the Guarantors
that if the Collateral Trustee at any time receives: 
 (1) an Officers’ Certificate stating that
(A) the signing officer has read Article 4 of this Agreement and understands the provisions and the definitions relating hereto, (B) such officer has made such examination or investigation as is necessary to enable him or her to
express an informed opinion as to whether or not the conditions precedent in this Agreement and all other Secured Debt Documents, if any, relating to the release of the Collateral have been complied with and (C) in the opinion of such officer,
such conditions precedent, if any, have been complied with; 
 (2) the proposed instrument or instruments
releasing such Lien as to such property in recordable form, if applicable; 
 (3) prior to the Discharge of
Priority Lien Debt Obligations, the written confirmation of each Priority Lien Debt Representative (or, at any time after the Discharge of Priority Lien Debt Obligations, each Parity Lien Debt Representative) (such confirmation to be given following
receipt of, and based solely on, the Officers’ Certificate described in clause (1) above) that, in its view, such release is permitted by Section 4.1(a) and the respective Secured Debt Documents governing the Secured Obligations the
holders of which such Secured Debt Representative represents; and 
 (4) to the extent and in the form required
by Section 10.03 of the Indenture, an Opinion of Counsel; 
 then the Collateral Trustee will execute (with such acknowledgements and/or
notarizations as are required) and deliver such release to the Borrower or the applicable Guarantor on or before the later of (x) the date specified in such request for such release and (y) the fifth Business Day after the date of receipt
of the items required by this Section 4.1(b) by the Collateral Trustee. 
 (c) The Collateral Trustee hereby agrees that:

 (1) in the case of any release pursuant to clause (2) of Section 4.1(a), if the terms of any such
sale, transfer or other disposition require the 

  
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payment of the purchase price to be contemporaneous with the delivery of the applicable release, then, at the written request of and at the expense of the Borrower or the applicable Guarantor,
the Collateral Trustee will either (A) be present at and deliver the release at the closing of such transaction or (B) deliver the release under customary escrow arrangements that permit such contemporaneous payment and delivery of the
release; and 
 (2) at any time when a Secured Debt Default under a Series of Secured Debt that constitutes
Parity Lien Debt has occurred and is continuing, within one Business Day of the receipt by it of any Act of Required Secured Parties pursuant to Section 4.1(a)(3), the Collateral Trustee will deliver a copy of such Act of Required Secured
Parties to each Secured Debt Representative. 
 (d) Each Secured Debt Representative hereby agrees that: 

(1) as soon as reasonably practicable after receipt of an Officers’ Certificate and, to the extent required, an
Opinion of Counsel from the Borrower pursuant to Section 4.1(b)(1) and (4), it will, to the extent required by such Section, either provide (A) the written confirmation required by Section 4.1(b)(3), (B) a written statement that
such release is not permitted by Section 4.1(a) or (C) a request for further information from the Borrower reasonably necessary to determine whether the proposed release is permitted by Section 4.1(a) and after receipt of such
information such Secured Debt Representative will as soon as reasonably practicable either provide the written confirmation or statement required pursuant to clause (A) or (B), as applicable; and 

(2) within one Business Day of the receipt by it of any notice from the Collateral Trustee pursuant to
Section 4.1(c)(2), such Secured Debt Representative will deliver a copy of such notice to each registered holder of the Series of Priority Lien Debt or Series of Parity Lien Debt for which it acts as Secured Debt Representative. 

SECTION 4.2 Delivery of Copies to Secured Debt Representatives. The Borrower will deliver to each Secured Debt Representative a
copy of each Officers’ Certificate delivered to the Collateral Trustee pursuant to Section 4.1(b), together with copies of all documents delivered to the Collateral Trustee with such Officers’ Certificate. The Secured Debt
Representatives will not be obligated to take notice thereof or to act thereon, subject to Section 4.1(d). 
 SECTION 4.3
Collateral Trustee not Required to Serve, File or Record. The Collateral Trustee is not required to serve, file, register or record any instrument releasing or subordinating its Liens on any Collateral; provided, however, that
if the Borrower or any Guarantor shall make a written demand for a termination statement under Section 9-513(c) of the UCC, the Collateral Trustee shall comply with the written request of the Borrower or such Guarantor to comply with the
requirements of such UCC provision; provided, further, that the Collateral Trustee must first confirm with the Secured Debt Representatives that the requirements of such UCC provisions have been satisfied. 

  
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 SECTION 4.4 Release of Liens in Respect of any Series of Priority Lien
Debt or any Series of Parity Lien Debt. 
 (a) Release of Liens in Respect of the Notes. In addition to any release
pursuant to Section 4.1 hereof, the Collateral Trustee’s Parity Lien will no longer secure the Notes outstanding under the Indenture or any other Obligations under the Indenture, and the right of the holders of the Notes and such
Obligations to the benefits and proceeds of the Collateral Trustee’s Parity Lien on the Collateral will terminate and be discharged: 
 (1) upon satisfaction and discharge of the Indenture as set forth under Article 12 of the Indenture; 
 (2) upon a Legal Defeasance or Covenant Defeasance (each as defined under the Indenture) of the Notes as set forth under Article 8 of the Indenture; 

(3) upon payment in full and discharge of all Notes outstanding under the Indenture and all Obligations that are
outstanding, due and payable under the Indenture at the time the Notes are paid in full and discharged; or 
 (4)
in whole or in part, with the consent of the holders of the requisite percentage of Notes in accordance with Article 9 of the Indenture. 
 (b) Release of Liens in Respect of any Series of Priority Lien Debt or any Series of Parity Lien Debt other than the Notes. In addition to any release pursuant to Section 4.1 hereof, as to any
Series of Priority Lien Debt, the Collateral Trustee’s Priority Lien will no longer secure such Series of Priority Lien Debt if the requirements of a Discharge of Priority Lien Debt Obligations are satisfied with respect to such Series of
Priority Lien Debt and all Priority Lien Debt Obligations related thereto. In addition to any release pursuant to Section 4.1 hereof, as to any Series of Parity Lien Debt other than the Notes, the Collateral Trustee’s Parity Lien will no
longer secure such Series of Parity Lien Debt if such Parity Lien Debt has been paid in full in cash, all commitments to extent credit in respect of such Series of Parity Lien Debt have been terminated and all other Parity Lien Debt Obligations
related thereto that are outstanding and unpaid at the time such Series of Parity Lien Debt is paid are also paid in full in cash (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in
respect of which no claim or demand for payment has been made at such time). 
 (c) Release of Liens with respect to
Affiliate Securities. In the event that Rule 3-16 of Regulation S-X under the Securities Act is amended, modified or interpreted by the Securities and Exchange Commission to require (or is replaced with another rule or regulation, or any other
law, rule or regulation is adopted, which would require) the filing with the Securities and Exchange Commission of separate financial statements of any “affiliate” of the Borrower due to the fact that such affiliate’s
“securities” secure any Series of Secured Debt, then such “securities” shall automatically be deemed not to constitute security for any Series of Secured Debt so 

  
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affected (but shall continue to constitute collateral for any Series of Secured Debt not having the above described effect). As used herein, “securities” and “affiliate” shall
have the meaning set forth in Regulation S-X or such other law, rule or regulation, as applicable. In addition, any Series of Secured Debt may disclaim the benefit of any Affiliate Securities in any Collateral Trust Joinder. 

ARTICLE 5. IMMUNITIES OF THE COLLATERAL TRUSTEE 
 SECTION 5.1 No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement
and the other Security Documents. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents. 

SECTION 5.2 Appointment of Agents and Advisors. The Collateral Trustee may execute any of the trusts or powers hereunder or
perform any duties hereunder either directly or by or through agents, attorneys, accountants, appraisers or other experts or advisors selected by it in good faith as it may reasonably require and will not be responsible for any misconduct or
negligence on the part of any of them. 
 SECTION 5.3 Other Agreements. The Collateral Trustee has accepted its
appointment as Collateral Trustee hereunder and is bound by the Security Documents executed by the Collateral Trustee as of the date of this Agreement and, as directed by an Act of Required Secured Parties, the Collateral Trustee
shall execute additional Security Documents delivered to it after the date of this Agreement; provided, however, that such additional Security Documents do not adversely affect the rights, privileges, benefits and immunities of the
Collateral Trustee. The Collateral Trustee will not otherwise be bound by, or be held obligated by, the provisions of any credit agreement, indenture or other agreement governing Secured Debt (other than this Agreement and the other Security
Documents to which it is a party). 
 SECTION 5.4 Solicitation of Instructions. 

(a) The Collateral Trustee may at any time solicit written confirmatory instructions, in the form of an Act of Required Secured Parties,
an Officers’ Certificate or an order of a court of competent jurisdiction, as to any action that it may be requested or required to take, or that it may propose to take, in the performance of any of its obligations under this Agreement or the
other Security Documents. 
 (b) No written direction given to the Collateral Trustee by an Act of Required Secured Parties that
in the sole judgment of the Collateral Trustee imposes, purports to impose or might reasonably be expected to impose upon the Collateral Trustee any obligation or liability not set forth in or arising under this Agreement and the other Security
Documents will be binding upon the Collateral Trustee unless the Collateral Trustee elects, at its sole option, to accept such direction. 

  
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 SECTION 5.5 Limitation of Liability. The Collateral Trustee will not be responsible
or liable for any action taken or omitted to be taken by it hereunder or under any other Security Document, except for its own negligence or willful misconduct as determined by a court of competent jurisdiction. 

SECTION 5.6 Documents in Satisfactory Form. The Collateral Trustee will be entitled to require that all agreements, certificates,
opinions, instruments and other documents at any time submitted to it, including those expressly provided for in this Agreement, be delivered to it in a form and with substantive provisions reasonably satisfactory to it. 

SECTION 5.7 Entitled to Rely. The Collateral Trustee may seek and conclusively rely upon, and shall be fully protected in
conclusively relying upon, any judicial order or judgment, upon any advice, opinion or statement of legal counsel, independent consultants and other experts selected by it in good faith and upon any certification, instruction, notice or other
writing delivered to it by the Borrower or any Guarantor in compliance with the provisions of this Agreement or delivered to it by any Secured Debt Representative as to the holders of Secured Obligations for whom it acts, without being required to
determine the authenticity thereof or the correctness of any fact stated therein or the propriety or validity of service thereof. The Collateral Trustee may act in conclusive reliance upon any instrument comporting with the provisions of this
Agreement or any signature reasonably believed by it to be genuine and may assume that any Person purporting to give notice or receipt or advice or make any statement or execute any document in connection with the provisions hereof or the other
Security Documents has been duly authorized to do so. To the extent an Officers’ Certificate or opinion of counsel is required or permitted under this Agreement to be delivered to the Collateral Trustee in respect of any matter, the Collateral
Trustee may rely conclusively on Officers’ Certificate or opinion of counsel as to such matter and such Officers’ Certificate or opinion of counsel shall be full warranty and protection to the Collateral Trustee for any action taken,
suffered or omitted by it under the provisions of this Agreement and the other Security Documents. 
 SECTION 5.8 Secured
Debt Default. The Collateral Trustee will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt
Default unless and until it is directed by an Act of Required Secured Parties. 
 SECTION 5.9 Actions by Collateral
Trustee. As to any matter not expressly provided for by this Agreement or the other Security Documents, the Collateral Trustee will act or refrain from acting as directed by an Act of Required Secured Parties and will be fully protected if it
does so, and any action taken, suffered or omitted pursuant to hereto or thereto shall be binding on the holders of Secured Obligations. 

  
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 SECTION 5.10 Security or Indemnity in favor of the Collateral Trustee. The
Collateral Trustee will not be required to advance or expend any funds or otherwise incur any financial liability in the performance of its duties or the exercise of its powers or rights hereunder unless it has been provided with security or
indemnity reasonably satisfactory to it against any and all liability or expense which may be incurred by it by reason of taking or continuing to take such action. 
 SECTION 5.11 Rights of the Collateral Trustee. In the event of any conflict between any terms and provisions set forth in this Agreement and those set forth in any other Security Document, the
terms and provisions of this Agreement shall supersede and control the terms and provisions of such other Security Document. In the event there is any bona fide, good faith disagreement between the other parties to this Agreement or any of the other
Security Documents resulting in adverse claims being made in connection with Collateral held by the Collateral Trustee and the terms of this Agreement or any of the other Security Documents do not unambiguously mandate the action the Collateral
Trustee is to take or not to take in connection therewith under the circumstances then existing, or the Collateral Trustee is in doubt as to what action it is required to take or not to take hereunder or under the other Security Documents, it will
be entitled to refrain from taking any action (and will incur no liability for doing so) until directed otherwise in writing by a request signed jointly by the parties hereto entitled to give such direction or by order of a court of competent
jurisdiction. 
 SECTION 5.12 Limitations on Duty of Collateral Trustee in Respect of Collateral.

 (a) Beyond the exercise of reasonable care in the custody of Collateral in its possession, the Collateral Trustee will have
no duty as to any Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon or as to preservation of rights against prior parties or any other rights pertaining thereto and the Collateral
Trustee will not be responsible for filing any financing or continuation statements or recording any documents or instruments in any public office at any time or times or otherwise perfecting or maintaining the perfection of any Liens on the
Collateral; provided, however, that, notwithstanding the foregoing, the Collateral Trustee will execute, file or record UCC-3 continuation statements and other documents and instruments to preserve, protect or perfect the security
interests granted to the Collateral Trustee (subject to the priorities set forth herein) if it shall receive a specific written request to execute, file or record the particular continuation statement or other specific document or instrument by any
Secured Debt Representative. The Collateral Trustee shall deliver to each other Secured Debt Representative a copy of any such written request. The Collateral Trustee will be deemed to have exercised reasonable care in the custody of the Collateral
in its possession if the Collateral is accorded treatment substantially 

  
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equal to that which it accords its own property, and the Collateral Trustee will not be liable or responsible for any loss or diminution in the value of any of the Collateral by reason of the act
or omission of any carrier, forwarding agency or other agent or bailee selected by the Collateral Trustee in good faith. 
 (b)
Except as provided in paragraph 5.12(a), the Collateral Trustee will not be responsible for the existence, genuineness or value of any of the Collateral or for the validity, perfection, priority or enforceability of the Liens in any of the
Collateral, whether impaired by operation of law or by reason of any action or omission to act on its part hereunder, except to the extent such action or omission constitutes negligence or willful misconduct on the part of the Collateral Trustee,
for the validity or sufficiency of the Collateral or any agreement or assignment contained therein, for the validity of the title of the Borrower or any Guarantor to the Collateral, for insuring the Collateral or for the payment of taxes, charges,
assessments or Liens upon the Collateral or otherwise as to the maintenance of the Collateral. The Collateral Trustee hereby disclaims any representation or warranty to the current and future holders of the Secured Obligations concerning the
perfection of the security interests granted to it or in the value of any Collateral. 
 SECTION 5.13 Assumption of Rights,
Not Assumption of Duties. Notwithstanding anything to the contrary contained herein: 
 (1) each of the
parties thereto will remain liable under each of the Security Documents (other than this Agreement) to the extent set forth therein to perform all of their respective duties and obligations thereunder to the same extent as if this Agreement had not
be executed; 
 (2) the exercise by the Collateral Trustee of any of its rights, remedies or powers hereunder
will not release such parties from any of their respective duties or obligations under the other Security Documents; and 
 (3) the Collateral Trustee will not be obligated to perform any of the obligations or duties of any of the parties to the Security Documents other than the Collateral Trustee. 

SECTION 5.14 No Liability for Clean Up of Hazardous Materials. In the event that the Collateral Trustee is required to acquire
title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out any fiduciary or trust obligation for the benefit of another, which in the Collateral Trustee’s sole discretion may cause the
Collateral Trustee to be considered an “owner or operator” under any environmental laws or otherwise cause the Collateral Trustee to incur, or be exposed to, any environmental liability or any liability under any other federal, state or
local law, the Collateral Trustee reserves the right, instead of taking such action, either to resign as Collateral Trustee or to arrange for the transfer of the title or control of the asset to a court appointed receiver. The Collateral Trustee
will not be liable to any Person for any environmental liability or any environmental claims or contribution actions under any federal, state or local law, rule or regulation by reason of the Collateral Trustee’s actions and conduct as
authorized, empowered and directed hereunder or relating to any kind of discharge or release or threatened discharge or release of any hazardous materials into the environment. 

  
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 ARTICLE 6. RESIGNATION AND REMOVAL OF THE COLLATERAL TRUSTEE 

SECTION 6.1 Resignation or Removal of Collateral Trustee. Subject to the appointment of a successor Collateral Trustee as
provided in Section 6.2 and the acceptance of such appointment by the successor Collateral Trustee: 
 (a) the Collateral
Trustee may resign at any time by giving not less than 30 days’ notice of resignation to each Secured Debt Representative and the Borrower; and 
 (b) the Collateral Trustee may be removed at any time, with or without cause, by an Act of Required Secured Parties. 
 SECTION 6.2 Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act of Required Secured Parties, subject to the
consent of the Borrower (such consent not to be unreasonably withheld, conditioned or delayed) so long as no default or event of default has occurred and is then continuing under any Secured Debt Document. If no successor Collateral Trustee has been
so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of the Borrower), at its option, appoint a successor
Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: 
 (1) authorized to exercise corporate trust powers; 
 (2) having a
combined capital and surplus of at least $100,000,000; and 
 (3) that is not a Secured Debt Representative, the
Borrower or an Affiliate of the Borrower. 
 The Collateral Trustee will fulfill its obligations hereunder until a successor
Collateral Trustee meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied. 

SECTION 6.3 Succession. When the Person so appointed as successor Collateral Trustee accepts such appointment: 

(1) such Person will succeed to and become vested with all the rights, powers, privileges and duties of the predecessor
Collateral Trustee, and the predecessor Collateral Trustee will be discharged from its duties and obligations hereunder; and 

  
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 (2) the predecessor Collateral Trustee will (at the expense of the Borrower)
promptly transfer all Liens and collateral security and other property of the Trust Estates within its possession or control to the possession or control of the successor Collateral Trustee and will execute instruments and assignments as may be
necessary or desirable or reasonably requested by the successor Collateral Trustee to transfer to the successor Collateral Trustee all Liens, interests, rights, powers and remedies of the predecessor Collateral Trustee in respect of the Security
Documents or the Trust Estates. 
 Thereafter the predecessor Collateral Trustee will remain entitled to enforce the immunities granted to it in
Article 5 and the provisions of Sections 7.11 and 7.12. 
 SECTION 6.4 Merger, Conversion or Consolidation of
Collateral Trustee. Any Person into which the Collateral Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Collateral Trustee shall be a
party, or any Person succeeding to the business of the Collateral Trustee shall be the successor of the Collateral Trustee pursuant to Section 6.3, provided that (i) without the execution or filing of any paper with any party hereto or any
further act on the part of any of the parties hereto, except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding, such Person satisfies the eligibility
requirements specified in clauses (1) through (4) of Section 6.2 and (ii) prior to any such merger, conversion or consolidation, the Collateral Trustee shall have notified the Borrower, each Priority Lien Debt Representative and
each Parity Lien Debt Representative thereof in writing. 
 ARTICLE 7. MISCELLANEOUS PROVISIONS 

SECTION 7.1 Amendment. 
 (a) No amendment or supplement to the provisions of any Security Document will be effective without the approval of the Collateral Trustee acting as directed by an Act of Required Secured Parties, except
that: 
 (1) any amendment or supplement that has the effect solely of: 

(A) adding or maintaining Collateral, securing additional Secured Obligations that are otherwise not prohibited by the
terms of any Secured Debt Document to be secured by the Collateral or preserving, perfecting or establishing the Liens thereon or the rights of the Collateral Trustee therein; or 

(B) providing for the assumption of the Borrower’s or any Guarantor’s obligations under any Secured Debt
Document in the case of a merger or consolidation or sale of all or substantially all of the assets of the 

  
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Borrower or such Guarantor to the extent not prohibited by the terms of the Indenture, the Credit Agreement or any other Secured Debt Documents, as applicable; 

will become effective when executed and delivered by the Borrower or any other applicable Guarantor party thereto and the Collateral
Trustee; 
 (2) no amendment or supplement that reduces, impairs or adversely affects the right of any holder of
Secured Obligations: 
 (A) to vote its outstanding Secured Debt as to any matter described as subject to an Act
of Required Secured Parties (or amends the provisions of this Section 7.1(a) (2) or the definitions of “Act of Required Secured Parties”, “Required Parity Lien Debtholders” or “Controlling
Representative”); 
 (B) to share in the order of application described in Section 3.4 in the
proceeds of enforcement of or realization on any Collateral that has not been released in accordance with the provisions described in Section 4.1 or 4.4; or 

(C) to require that Liens securing Secured Obligations be released only as set forth in the provisions described in
Section 4.1 or 4.4, 
 will become effective without the consent of the requisite percentage or number of holders of each Series of Secured
Debt so affected under the applicable Secured Debt Documents; and 
 (3) no amendment or supplement that imposes
any obligation upon the Collateral Trustee or any Secured Debt Representative or adversely affects the rights of the Collateral Trustee or any Secured Debt Representative, respectively, in its capacity as such will become effective without the
consent of the Collateral Trustee or such Secured Debt Representative, respectively. 
 (b) Notwithstanding Section 7.1(a)
but subject to Sections 7.1(a)(2) and 7.1(a)(3), 
 (1) any mortgage or other Security Document that secures
Parity Lien Obligations (but not Priority Lien Obligations) may be amended or supplemented with the approval of the Collateral Trustee acting as directed in writing by the Required Parity Lien Debtholders, unless such amendment or supplement would
not be permitted under the terms of this Agreement or the other Priority Lien Documents; and 
 (2) any
amendment or waiver of, or any consent under, any provision of this Agreement or any other Priority Lien Security Document will apply automatically to any comparable provision of any comparable Parity Lien Security Document without the consent of or
notice to any holder of Parity Lien Debt Obligations and without any action by the Borrower or any Guarantor or any holder of notes or other Parity Lien Debt Obligations. 

  
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 (c) The Collateral Trustee will not enter into any amendment or supplement unless it has
received an Officers’ Certificate to the effect that such amendment or supplement will not result in a breach of any provision or covenant contained in any of the Secured Debt Documents. Prior to executing any amendment or supplement pursuant
to this Section 7.1, the Collateral Trustee will be entitled to receive an opinion of counsel of the Borrower to the effect that the execution of such document is authorized or permitted hereunder, and with respect to amendments adding
Collateral, an opinion of counsel of the Borrower addressing customary creation and perfection, and if such additional Collateral consists of equity interests of any Person which equity interests constitute certificated securities, priority matters
with respect to such additional Collateral (which opinion may be subject to customary assumptions and qualifications). 
 (d)
The holders of Parity Lien Debt Obligations and the Parity Lien Debt Representatives agree that each Parity Lien Security Document will include the following language: 
 “Notwithstanding anything herein to the contrary, the lien and security interest granted to the Collateral Trustee pursuant to this Agreement and the exercise of any right or remedy by such
Collateral Trustee hereunder are subject to the provisions of the Collateral Trust Agreement, dated as of April 27, 2012, among the Borrower, the Guarantors from time to time party thereto, Macquarie US Trading LLC, as Administrative Agent
under the Credit Agreement (as defined therein), Wells Fargo Bank, National Association, as Trustee under the Indenture (as defined therein) and Wells Fargo Bank, National Association, as Collateral Trustee (as amended, supplemented, amended and
restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”). In the event of any conflict between the terms of the Collateral Trust Agreement and this Agreement, the terms of the
Collateral Trust Agreement will govern.” 
 ; provided, however, that if the jurisdiction in which any such Parity Lien Debt
Document will be filed prohibits the inclusion of the language above or would prevent a document containing such language from being recorded, the Parity Lien Debt Representatives and the Priority Lien Debt Representatives agree, prior to such
Parity Lien Debt Document being entered into, to negotiate in good faith replacement language stating that the lien and security interest granted under such Parity Lien Debt Document is subject to the provisions of this Agreement. 

SECTION 7.2 Voting. In connection with any matter under this Agreement requiring a vote of holders of Secured Debt, each Series
of Secured Debt will cast its votes in accordance with the Secured Debt Documents governing such Series of Secured Debt. The amount of Secured Debt to be voted by a Series of Secured Debt will equal (1) the aggregate principal amount of Secured
Debt held by such Series of Secured Debt (including outstanding letters of credit whether or not then available or drawn), plus (2) other than in connection with an exercise of remedies, the aggregate unfunded commitments to extend
credit which, when funded, would constitute Indebtedness of such Series of Secured Debt. Following and in accordance with the outcome of the applicable vote under its Secured Debt Documents, the Secured Debt Representative of each Series of Secured
Debt will cast all of its votes under that Series of Secured Debt as a single block in respect of any vote under this Agreement. 

  
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 SECTION 7.3 Further Assurances; Insurance. 

(a) The Borrower and each of the Guarantors will do or cause to be done all acts and things that may be required, or that the Collateral
Trustee from time to time may reasonably request, to assure and confirm that the Collateral Trustee holds, for the benefit of the holders of Secured Obligations, duly created and enforceable and perfected Liens upon the Collateral, (including any
property or assets that are acquired or otherwise become, or are required by any Secured Debt Document to become, Collateral after the date hereof), in each case as contemplated by, and with the Lien priority required under, the Secured Debt
Documents. 
 (b) The Borrower and each of the Guarantors will promptly execute, acknowledge and deliver such security
documents, instruments, certificates, notices and other documents, and take such other actions as may be reasonably required, or that the Collateral Trustee may reasonably request, to create, perfect, protect, assure or enforce the Liens and
benefits intended to be conferred, in each case as contemplated by the Secured Debt Documents for the benefit of holders of Secured Obligations. 
 (c) The Borrower and the Guarantors will: 
 (1) keep their
properties adequately insured at all times by financially sound and reputable insurers; 
 (2) maintain such
other insurance, to such extent and against such risks (and with such deductibles, retentions and exclusions), including fire and other risks insured against by extended coverage and coverage for acts of terrorism, as is customary with companies in
the same or similar businesses operating in the same or similar locations, including public liability insurance against claims for personal injury or death or property damage occurring upon, in, about or in connection with the use of any properties
owned, occupied or controlled by them; 
 (3) maintain such other insurance as may be required by law;

 (4) obtain title insurance on all real property Collateral insuring the Collateral Trustee’s Lien on
that property, subject only to Liens permitted under each of the Secured Debt Documents and other exceptions to title approved by the Collateral Trustee (except that title insurance need only be obtained on any particular parcel of real property
with a value equal to or less than $3,000,000 if and to the extent title insurance is obtained in respect of Priority Liens on that property or as otherwise required under the Indenture); and 

(5) maintain such other insurance as may be required by the Security Documents. 

  
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 (d) Upon the request of the Collateral Trustee, the Borrower and the Guarantors will furnish
to the Collateral Trustee full information as to their property and liability insurance carriers. 
 (e) All insurance policies
required by Sections 7.3(c) (except for the insurance described in 7.3(c)(4)) above will: 
 (1) provide that,
with respect to third party liability insurance, the holders of Secured Obligations, as a class, shall be named as additional insureds, with a waiver of subrogation; 

(2) name the Collateral Trustee as a loss payee and additional insured; 

(3) provide that (x) no cancellation or termination of such insurance and (y) no reduction in the limits of
liability of such insurance or other material change shall be effective until 30 days after written notice is given by the insurers to the Collateral Trustee of such cancellation, termination, reduction or change; 

(4) waive all claims for insurance premiums or commissions or additional premiums or assessments against the Secured
Parties; and 
 (5) waive any right of the insurers to setoff or counterclaim or to make any other deductions,
whether by way of attachment or otherwise, as against the Secured Parties. 
 (f) Upon the request of the Collateral Trustee,
the Borrower and the Guarantors will permit the Collateral Trustee or any of its agents or representatives, at reasonable times and intervals upon reasonable prior notice, to visit their offices and sites and inspect any of the Collateral and to
discuss matters relating to the Collateral with their respective officers and independent public accountants. The Borrower and the Guarantors shall, at any reasonable time and from time to time upon reasonable prior notice, permit the Collateral
Trustee or any of its agents or representatives to examine and make copies of and abstracts from the records and books of account of the Borrower and the Guarantors and their Subsidiaries, all at the Borrower’s expense. 

SECTION 7.4 Perfection of Junior Trust Estate. 
 Solely for purposes of perfecting the Liens of the Collateral Trustee in its capacity as agent of the holders of Parity Lien Debt Obligations and the Parity Lien Debt Representatives in any portion of the
Junior Trust Estate in the possession or control of the Collateral Trustee (or its agents or bailees) as part of the Senior Trust Estate including, without limitation, any instruments, goods, negotiable documents, tangible chattel paper,
certificated securities, securities accounts or money, the Collateral Trustee, the holders of Priority Lien Debt Obligations and the Priority Lien Debt Representatives hereby acknowledge that the Collateral

  
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Trustee also holds such property as gratuitous bailee for the benefit of the Collateral Trustee for the benefit of the holders of Parity Lien Debt Obligations and the Parity Lien Debt
Representatives (such bailment being intended, among other things, to satisfy the requirements of Sections 8-106(d)(d), 8-301(a)(2) and 9-313(c) of the UCC). Solely with respect to any deposit accounts under the control (within the meaning of
Section 9-104 of the UCC) of the Collateral Trustee in its capacity as agent of the holders of the Priority Lien Debt Obligations, the Collateral Trustee agrees to also hold control over such deposit accounts as gratuitous agent for the benefit
of the holders of Parity Lien Debt Obligations and the Parity Lien Debt Representatives. 
 SECTION 7.5 Separate Grants and
Separate Classification. Each of the parties and beneficiaries hereto acknowledges and agrees that: 
 (a) the grants of
Liens to the Collateral Trustee for the benefit of the Priority Lien Secured Parties and the grants of Liens to the Collateral Trustee for the benefit of the Parity Lien Secured Parties constitute two separate and distinct grants of Liens; and

 (b) because of, among other things, their differing rights in the Collateral, the Priority Lien Debt Obligations are
fundamentally different from the Parity Lien Debt Obligations and must be separately classified in any plan of reorganization proposed or adopted in an Insolvency or Liquidation Proceeding. 

To further effectuate the intent of the parties as provided in the immediately preceding sentence, if it is held that the claims of the
Priority Lien Secured Parties and the Parity Lien Secured Parties in respect of the Collateral constitute only one secured claim (rather than separate classes of senior and junior secured claims), then each of the parties hereto hereby acknowledges
and agrees that, all distributions shall be made as if there were separate classes of senior and junior secured claims against the Borrower and Guarantors in respect of the Collateral (with the effect being that, to the extent that the aggregate
value of the Collateral is sufficient (for this purpose ignoring all claims held by the Parity Lien Secured Parties), the Priority Lien Secured Parties shall be entitled to receive, in addition to amounts distributed to them in respect of principal,
pre-petition interest and other claims, all amounts owing (or that would be owing if there were such separate classes of senior and junior secured claims) in respect of post-petition interest, including any additional interest payable pursuant to
the Priority Lien Debt Documents, arising from or related to a default, which is disallowed as a claim in any Insolvency or Liquidation Proceeding) before any distribution is made in respect of the claims held by the Parity Lien Secured Parties with
respect to the Collateral, with the Parity Lien Secured Parties, hereby acknowledging and agreeing to turn over to the Collateral Trustee, for itself and on behalf of the Priority Lien Secured Parties, Collateral or proceeds of Collateral otherwise
received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the claim or recovery of the Parity Lien Secured Parties). 

  
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 SECTION 7.6 Successors and Assigns. 

(a) Except as provided in Section 5.2, the Collateral Trustee may not, in its capacity as such, delegate any of its duties or assign
any of its rights hereunder, and any attempted delegation or assignment of any such duties or rights will be null and void. All obligations of the Collateral Trustee hereunder will inure to the sole and exclusive benefit of, and be enforceable by,
each Secured Debt Representative and each present and future holder of Secured Obligations, each of whom will be entitled to enforce this Agreement as a third-party beneficiary hereof, and all of their respective successors and assigns. 

(b) Neither the Borrower nor any Guarantor may delegate any of its duties or assign any of its rights hereunder, and any attempted
delegation or assignment of any such duties or rights will be null and void. All obligations of the Borrower and the Guarantors hereunder will inure to the sole and exclusive benefit of, and be enforceable by, the Collateral Trustee, each Secured
Debt Representative and each present and future holder of Secured Obligations, each of whom will be entitled to enforce this Agreement as a third-party beneficiary hereof, and all of their respective successors and assigns. 

SECTION 7.7 Delay and Waiver. No failure to exercise, no course of dealing with respect to the exercise of, and no delay in
exercising, any right, power or remedy arising under this Agreement or any of the other Security Documents will impair any such right, power or remedy or operate as a waiver thereof. No single or partial exercise of any such right, power or remedy
will preclude any other or future exercise thereof or the exercise of any other right, power or remedy. The remedies herein are cumulative and are not exclusive of any remedies provided by law. 

SECTION 7.8 Notices. Any communications, including notices and instructions, between the parties hereto or notices provided
herein to be given may be given to the following addresses: 
  

			
	If to the Collateral Trustee:	  	Wells Fargo Bank, National Association
		  	7000 Central Parkway NE
		  	Suite 550 Atlanta, GA
		  	Telephone: (770) 551-5117
		  	Fax: (770) 551-5118
		  	 Attention: Corporate Trust Services, as
 Administrator—Carmike Cinemas, Inc.

		
	If to the Borrower or any Guarantor:	  	Carmike Cinemas, Inc.
		  	1301 First Avenue
		  	Columbus, Georgia 31901
		  	Attention: Chief Financial Officer
		  	Telephone: (706) 576-3415
		  	Fax: (706) 324-0470

  
 53 

			
	If to the Administrative Agent:	  	Macquarie US Trading LLC
		  	125 West 55th Street
		  	New York, New York 10019
		  	Attention: Arvind Admal
		  	or David Anekstein
		  	Telephone: (212) 231-2099
		  	or (212) 231-6187
		  	Fax: (212) 231-0629
		
	If to the Trustee:	  	Wells Fargo Bank, National Association
		  	7000 Central Parkway NE
		  	Suite 550 Atlanta, GA
		  	Telephone: (770) 551-5117
		  	Fax: (770) 551-5118
		  	 Attention: Corporate Trust Services, as
 Administrator—Carmike Cinemas, Inc.

 and if to any other Secured Debt Representative, to such address as it may specify by written notice to the parties named
above. 
 All notices and communications will be mailed by first class mail, certified or registered, return receipt requested,
or by overnight air courier guaranteeing next day delivery, to the relevant address set forth above or, as to holders of Secured Debt, its address shown on the register kept by the office or agency where the relevant Secured Debt may be presented
for registration of transfer or for exchange. To the extent applicable, any notice or communication will also be so mailed to any Person described in § 313(c) of the Trust Indenture Act of 1939, as amended, to the extent required
thereunder. Failure to mail a notice or communication to a holder of Secured Debt or any defect in it will not affect its sufficiency with respect to other holders of Secured Debt. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the
addressee receives it. 
 SECTION 7.9 Notice Following Discharge of Priority Lien Debt Obligations. Promptly following
the Discharge of Priority Lien Debt Obligations with respect to one or more Series of Priority Lien Debt, each Priority Lien Debt Representative with respect to each applicable Series of Priority Lien Debt that is so discharged will provide written
notice of such discharge to the Collateral Trustee and to each other Secured Debt Representative. 

  
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 SECTION 7.10 Entire Agreement. This Agreement states the complete agreement of the
parties relating to the undertaking of the Collateral Trustee set forth herein and supersedes all oral negotiations and prior writings in respect of such undertaking. 
 SECTION 7.11 Compensation; Expenses. The Borrower and the Guarantors jointly and severally agree to pay, promptly upon demand: 

(1) such compensation to the Collateral Trustee and its agents as the Borrower and the Collateral Trustee may agree in
writing from time to time; 
 (2) all reasonable costs and expenses incurred by the Collateral Trustee and its
agents in the preparation, execution, delivery, filing, recordation, administration or enforcement of this Agreement or any other Security Document or any consent, amendment, waiver or other modification relating hereto or thereto; 

(3) all reasonable fees, expenses and disbursements of legal counsel and any auditors, accountants, consultants or
appraisers or other professional advisors and agents engaged by the Collateral Trustee or any Secured Debt Representative incurred in connection with the negotiation, preparation, closing, administration, performance or enforcement of this Agreement
and the other Security Documents or any consent, amendment, waiver or other modification relating hereto or thereto and any other document or matter requested by the Borrower or any Guarantor; 

(4) all reasonable costs and expenses incurred by the Collateral Trustee and its agents in creating, perfecting,
preserving, releasing or enforcing the Collateral Trustee’s Liens on the Collateral, including filing and recording fees, expenses and taxes, stamp or documentary taxes, search fees, and title insurance premiums; 

(5) all other reasonable costs and expenses incurred by the Collateral Trustee and its agents in connection with the
negotiation, preparation and execution of the Security Documents and any consents, amendments, waivers or other modifications thereto and the transactions contemplated thereby or the exercise of rights or performance of obligations by the Collateral
Trustee thereunder; and 
 (6) after the occurrence of any Secured Debt Default, all costs and expenses incurred
by the Collateral Trustee, its agents and any Secured Debt Representative in connection with the preservation, collection, foreclosure or enforcement of the Collateral subject to the Security Documents or any interest, right, power or remedy of the
Collateral Trustee or in connection with the collection or enforcement of any of the Secured Obligations or the proof, protection, administration or resolution of any claim based upon the Secured Obligations in any Insolvency or Liquidation
Proceeding, including all fees and disbursements of attorneys, accountants, auditors, consultants, appraisers and other professionals engaged by the Collateral Trustee, its agents or the Secured Debt Representatives. 

  
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 The agreements in this Section 7.11 will survive repayment of all other Secured Obligations and the
removal or resignation of the Collateral Trustee. 
 SECTION 7.12 Indemnity. 

(a) The Borrower and the Guarantors jointly and severally agree to defend, indemnify, pay and hold harmless the Collateral Trustee, each
Secured Debt Representative, each holder of Secured Obligations and each of their respective Affiliates and each and all of the directors, officers, partners, trustees, employees, attorneys and agents, and (in each case) their respective heirs,
representatives, successors and assigns (each of the foregoing, an “Indemnitee”) from and against any and all Indemnified Liabilities; provided, no Indemnitee will be entitled to indemnification hereunder with respect
to any Indemnified Liability to the extent such Indemnified Liability is found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of such Indemnitee.

 (b) All amounts due under this Section 7.12 will be payable upon demand. 

(c) To the extent that the undertakings to defend, indemnify, pay and hold harmless set forth in Section 7.12(a) may be
unenforceable in whole or in part because they violate any law or public policy, the Borrower and each of the Guarantors will contribute the maximum portion that it is permitted to pay and satisfy under applicable law to the payment and satisfaction
of all Indemnified Liabilities incurred by Indemnitees or any of them. 
 (d) Neither the Borrower nor any Guarantor will ever
assert any claim against any Indemnitee, on any theory of liability, for any lost profits or special, indirect or consequential damages or (to the fullest extent a claim for punitive damages may lawfully be waived) any punitive damages arising out
of, in connection with, or as a result of, this Agreement or any other Security Document or any agreement or instrument or transaction contemplated hereby or relating in any respect to any Indemnified Liability, and the Borrower each of the
Guarantors hereby forever waives, releases and agrees not to sue upon any claim for any such lost profits or special, indirect, consequential or (to the fullest extent lawful) punitive damages, whether or not accrued and whether or not known or
suspected to exist in its favor. 
 (e) The agreements in this Section 7.12 will survive repayment of all other Secured
Obligations and the removal or resignation of the Collateral Trustee. 
 SECTION 7.13 Severability. If any provision of
this Agreement is invalid, illegal or unenforceable in any respect or in any jurisdiction, the validity, legality and enforceability of such provision in all other respects and of all remaining provisions, and of such provision in all other
jurisdictions, will not in any way be affected or impaired thereby. 

  
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 SECTION 7.14 Headings. Section headings herein have been inserted for convenience of
reference only, are not to be considered a part of this Agreement and will in no way modify or restrict any of the terms or provisions hereof. 
 SECTION 7.15 Obligations Secured. All obligations of the Borrower and the Guarantors set forth in or arising under this Agreement will be Secured Obligations and are secured by all Liens granted by
the Security Documents. 
 SECTION 7.16 Governing Law. THIS AGREEMENT AND ANY CLAIM OR CONTROVERSY RELATING TO THE
SUBJECT MATTER HEREOF, WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE, SHALL BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS
OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
 SECTION 7.17 Consent to Jurisdiction. All judicial proceedings
brought against any party hereto arising out of or relating to this Agreement or any of the other Security Documents may be brought in any state or federal court of competent jurisdiction in the State, County and City of New York. By executing and
delivering this Agreement, the Borrower, each Guarantor, for itself and in connection with its properties, irrevocably: 
 (1) accepts generally and unconditionally the nonexclusive jurisdiction and venue of such courts; 
 (2) waives any defense of forum non conveniens; 
 (3) agrees that
service of all process in any such proceeding in any such court may be made by registered or certified mail, return receipt requested, to such party at its address provided in accordance with Section 7.8; 

(4) agrees that service as provided in clause (3) above is sufficient to confer personal jurisdiction over such party
in any such proceeding in any such court and otherwise constitutes effective and binding service in every respect; and 
 (5) agrees that each party hereto retains the right to serve process in any other manner permitted by law or to bring proceedings against any party in the courts of any other jurisdiction. 

  
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 SECTION 7.18 Waiver of Jury Trial. Each party to this Agreement waives its rights to
a jury trial of any claim or cause of action based upon or arising under this Agreement or any of the other Security Documents or any dealings between them relating to the subject matter of this Agreement or the intents and purposes of the other
Security Documents. The scope of this waiver is intended to be all-encompassing of any and all disputes that may be filed in any court and that relate to the subject matter of this Agreement and the other Security Documents, including contract
claims, tort claims, breach of duty claims and all other common law and statutory claims. Each party to this Agreement acknowledges that this waiver is a material inducement to enter into a business relationship, that each party hereto has already
relied on this waiver in entering into this Agreement, and that each party hereto will continue to rely on this waiver in its related future dealings. Each party hereto further warrants and represents that it has reviewed this waiver with its legal
counsel and that it knowingly and voluntarily waives its jury trial rights following consultation with legal counsel. This waiver is irrevocable, meaning that it may not be modified either orally or in writing (other than by a mutual written waiver
specifically referring to this Section 7.18 and executed by each of the parties hereto), and this waiver will apply to any subsequent amendments, renewals, supplements or modifications of or to this Agreement or any of the other Security
Documents or to any other documents or agreements relating thereto. In the event of litigation, this Agreement may be filed as a written consent to a trial by the court. 
 SECTION 7.19 Counterparts, Electronic Signatures. This Agreement may be executed in any number of counterparts (including by facsimile), each of which when so executed and delivered will be deemed
an original, but all such counterparts together will constitute but one and the same instrument. The parties hereto may sign this Agreement and any Collateral Trust Joinder and transmit the executed copy by electronic means, including facsimile or
noneditable *.pdf files. The electronic copy of the executed Agreement and any Collateral Trust Joinder is and shall be deemed an original signature. 
 SECTION 7.20 Effectiveness. This Agreement will become effective upon the execution of a counterpart hereof by each of the parties hereto and receipt by each party of written notification of such
execution and written or telephonic authorization of delivery thereof. 
 SECTION 7.21 Guarantors and Additional
Guarantors. The Borrower represents and warrants that each Person who is a Guarantor on the date hereof has duly executed this Agreement. The Borrower will cause each Person that hereafter becomes a Guarantor or is required by any Secured Debt
Document to become a party to this Agreement to become a party to this Agreement, for all purposes of this Agreement, by causing such Person to execute and deliver to the Collateral Trustee a Collateral Trust Joinder, whereupon such Person will be
bound by the terms hereof to the same extent as if it had executed and delivered this Agreement as of the date hereof. The Borrower shall promptly provide each Secured Debt Representative with a copy of each Collateral Trust Joinder executed and
delivered pursuant to this Section 7.21; provided, however, that the failure to so deliver a copy of the Collateral Trust Joinder to any then existing Secured Debt Representative shall not affect the inclusion of such Person as a Guarantor if
the other requirements of this Section 7.21 are complied with. 

  
 58 

 SECTION 7.22 Continuing Nature of this Agreement. This Agreement, including the
subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Priority Lien Debt Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise
by any holder of Priority Lien Debt Obligations or Priority Lien Debt Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution
made with respect to the Priority Lien Debt Obligations is recovered from any holder of Priority Lien Debt Obligations or any Priority Lien Debt Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution
received by any holder of Parity Lien Debt Obligations or Parity Lien Debt Representative with respect to the Parity Lien Debt Obligations from the proceeds of any Collateral or any title insurance policy required by any real property mortgage at
any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Parity Lien Debt Representative or that holder of a Parity Lien Obligation, as the case may be, will forthwith
deliver the same to the Collateral Trustee, for the account of the holders of the Priority Lien Debt Obligations to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Parity Lien Debt
Representative or that holder of a Parity Lien Obligation, as the case may be, for the benefit of the holders of the Priority Lien Debt Obligations. 
 SECTION 7.23 Insolvency. This Agreement will be applicable both before and after the commencement of any Insolvency or Liquidation Proceeding by or against the Borrower or any Guarantor. The
relative rights, as provided for in this Agreement, will continue after the commencement of any such Insolvency or Liquidation Proceeding on the same basis as prior to the date of the commencement of any such case, as provided in this Agreement.

 SECTION 7.24 Rights and Immunities of Secured Debt Representatives. The Administrative Agent will be entitled to all
of the rights, protections, immunities and indemnities set forth in the Credit Agreement, the Trustee will be entitled to all of the rights, protections, immunities and indemnities set forth in the Indenture and any future Secured Debt
Representative will be entitled to all of the rights, protections, immunities and indemnities set forth in the credit agreement, indenture or other agreement governing the applicable Secured Debt with respect to which such Person will act as
representative, in each case as if specifically set forth herein. In no event will any Secured Debt Representative be liable for any act or omission on the part of the Borrower or the Guarantor or the Collateral Trustee hereunder. 

SECTION 7.25 U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot
Act, the Collateral Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information 

  
 59 

 
that identifies each person or legal entity that establishes a relationship or opens an account with the Collateral Trustee. The parties to this Agreement agree that they will provide the
Collateral Trustee with such information as it may request in order for the Collateral Trustee to satisfy the requirements of the U.S.A. Patriot Act. 

  
 60 

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

	
	CARMIKE CINEMAS, INC.
	
	/s/ Daniel E. Ellis
	Name: Daniel E. Ellis
	Title: Senior Vice President, General Counsel and Corporate Secretary
	
	EASTWYNN THEATRES, INC.
	
	/s/ Daniel E. Ellis
	Name: Daniel E. Ellis
	Title: Senior Vice President, General Counsel and Secretary
	
	GEORGE G. KERASOTES CORPORATION
	
	/s/ Daniel E. Ellis
	Name: Daniel E. Ellis
	Title: Senior Vice President, General Counsel and Secretary
	
	GKC INDIANA THEATRES, INC.
	
	/s/ Daniel E. Ellis
	Name: Daniel E. Ellis
	Title: Senior Vice President, General Counsel and Secretary
	
	GKC MICHIGAN THEATRES, INC.
	
	/s/ Daniel E. Ellis
	Name: Daniel E. Ellis
	Title: Senior Vice President, General Counsel and Secretary
	
	GKC THEATRES, INC.
	
	/s/ Daniel E. Ellis
	Name: Daniel E. Ellis
	Title: Senior Vice President, General Counsel and Secretary

  
 S-1

 
	
	MILITARY SERVICES, INC.
	
	/s/ Daniel E. Ellis
	Name: Daniel E. Ellis
	Title: Senior Vice President, General Counsel and Secretary
	
	MACQUARIE US TRADING LLC, as Administrative Agent
	
	/s/ Robert M. Perdock
	Name: Robert M. Perdock
	Title: Managing Director
	
	/s/ Vincent Basulto
	Name: Vincent Basulto
	Title: Managing Director
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee under the Indenture
	
	/s/ Stefan Victory
	 Name: Stefan Victory
 Title:
Vice President

	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee
	
	/s/ Stefan Victory
	Name: Stefan Victory
	Title: Vice President

  
 S-2

 [EXHIBIT A to Collateral Trust Agreement] 

[FORM OF] 

ADDITIONAL SECURED DEBT DESIGNATION 
 Reference is made to the Collateral Trust Agreement dated as of April 27, 2012 (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the
“Collateral Trust Agreement”) among CARMIKE CINEMAS, INC. (the “Borrower”), the Guarantors from time to time party thereto, MACQUARIE US TRADING LLC, as Administrative Agent under the Credit Agreement
(as defined therein), WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee under the Indenture (as defined therein) and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee. Capitalized terms used but not otherwise defined herein have the
meanings assigned to them in the Collateral Trust Agreement. This Additional Secured Debt Designation is being executed and delivered in order to designate additional secured debt as either Priority Lien Debt or Parity Lien Debt entitled to the
benefit of the Collateral Trust Agreement. 
 The undersigned, the duly appointed [specify title] of the Borrower hereby
certifies on behalf of the Borrower that: 
 (A) [insert name of the Borrower or Guarantor] intends to
incur additional Secured Debt (“Additional Secured Debt”) which will be [select appropriate alternative] [Priority Lien Debt permitted by each applicable Secured Debt Document to be secured by a Priority Lien equally
and ratably with all previously existing and future Priority Lien Debt] or [Parity Lien Debt permitted by each applicable Secured Debt Document to be secured with a Parity Lien equally and ratably with all previously existing and future Parity Lien
Debt]; 
 (B) the name and address of the Secured Debt Representative for the Additional Secured Debt for
purposes of Section 7.8 of the Collateral Trust Agreement is: 
  

											
		 		 	  
	 		  	

											
				
		 	  
	 		  	

											
						
		 		 	Telephone:	 	  
	 		  	

											
						
		 		 	Fax:	 	  
	 		  	

 (C) the Borrower and each Guarantor has duly authorized, executed (if applicable) and
recorded (or caused to be recorded) in each appropriate governmental office all relevant filings and recordations to ensure that the Additional Secured Debt is secured by the Collateral in accordance with the Security Documents; 

(D) attached as Exhibit 1 hereto is a Reaffirmation Agreement duly executed by the Borrower and each Guarantor, and

  
 EXHIBIT A

 (E) the Borrower has caused a copy of this Additional Secured Debt
Designation and the related Collateral Trust Joinder to be delivered to each existing Secured Debt Representative. 
 IN WITNESS
WHEREOF, the Borrower has caused this Additional Secured Debt Designation to be duly executed by the undersigned officer as of                     ,
20    . 
  

					
	CARMIKE CINEMAS, INC.
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 ACKNOWLEDGEMENT OF RECEIPT 
 The undersigned, the duly appointed Collateral Trustee under the Collateral Trust Agreement, hereby acknowledges receipt of an executed copy of this Additional Secured Debt Designation. 

 

					
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 EXHIBIT 1 TO ADDITIONAL SECURED DEBT DESIGNATION 

[FORM OF] 

REAFFIRMATION AGREEMENT 
 Reference is made to the Collateral Trust Agreement dated as of April 27, 2012 (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the
“Collateral Trust Agreement”) among CARMIKE CINEMAS, INC. (the “Borrower”), the Guarantors from time to time party thereto, MACQUARIE US TRADING LLC, as Administrative Agent under the Credit Agreement
(as defined therein), WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee under the Indenture (as defined therein), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee. Capitalized terms used but not otherwise defined herein have the
meanings assigned to them in the Collateral Trust Agreement. This Reaffirmation Agreement is being executed and delivered as of     , 20    in connection with an Additional Secured Debt Designation of even
date herewith which Additional Secured Debt Designation has designated additional secured debt as either Priority Lien Debt or Parity Lien Debt (as described therein) entitled to the benefit of the Collateral Trust Agreement. 

Each of the undersigned hereby consents to the designation of additional secured debt as [Priority/Parity] Lien Debt as set forth in the
Additional Secured Debt Designation of even date herewith and hereby confirms its respective guarantees, pledges, grants of security interests and other obligations, as applicable, under and subject to the terms of each of the [Priority/Parity] Lien
Documents to which it is party, and agrees that, notwithstanding the designation of such additional indebtedness or any of the transactions contemplated thereby, such guarantees, pledges, grants of security interests and other obligations, and the
terms of each [Priority/Parity] Lien Document to which it is a party, are not impaired or adversely affected in any manner whatsoever and shall continue to be in full force and effect and such additional secured debt shall be entitled to all of the
benefits of such [Priority/Parity] Lien Documents. 
 Governing Law and Miscellaneous Provisions. The provisions of
Article 7 of the Collateral Trust Agreement will apply with like effect to this Reaffirmation Agreement. 
 IN WITNESS
WHEREOF, each of the undersigned has caused this Reaffirmation Agreement to be duly executed as of the date written above. 
  

			
	[names of Guarantors]
		
	By:	 	  

		 	Name:
		 	Title:

 [EXHIBIT B to Collateral Trust Agreement] 

[FORM OF] 

COLLATERAL TRUST JOINDER – ADDITIONAL DEBT 
 Reference is made to the Collateral Trust Agreement dated as of                     ,
20    (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”) among CARMIKE CINEMAS, INC. (the
“Borrower”), the Guarantors from time to time party thereto, MACQUARIE US TRADING LLC, as Administrative Agent under the Credit Agreement (as defined therein), WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee under the
Indenture (as defined therein) WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee. Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Collateral Trust Joinder
is being executed and delivered pursuant to Section 3.8 of the Collateral Trust Agreement as a condition precedent to the debt for which the undersigned is acting as agent being entitled to the benefits of being additional secured debt under
the Collateral Trust Agreement. 
 1. Joinder. The undersigned,
                    , a                     ,
(the “New Representative”) as [trustee, administrative agent] under that certain [described applicable indenture, credit agreement or other document governing the additional secured debt] hereby agrees to become party
as [a Parity Lien Debt Representative] [a Priority Lien Debt Representative] under the Collateral Trust Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as if
the undersigned had executed and delivered the Collateral Trust Agreement as of the date thereof. 
 2. Lien Sharing and
Priority Confirmation. 
 [Option A: to be used if Additional Debt is Parity Lien Debt] The undersigned New
Representative, on behalf of itself and each holder of Obligations in respect of the Series of Parity Lien Debt for which the undersigned is acting as Parity Lien Debt Representative hereby agrees, for the enforceable benefit of all holders of each
current and future Series of Priority Lien Debt and Parity Lien Debt, each current and future Priority Lien Debt Representative, each other current and future Parity Lien Debt Representative and each current and future holder of Priority Lien Debt
Obligations and Parity Lien Debt Obligations and as a condition to being treated as Secured Debt under the Collateral Trust Agreement that: 
 (a) all Parity Lien Debt Obligations will be and are secured equally and ratably by all Parity Liens at any time granted by the Borrower or any Guarantor to secure any Obligations in respect of any Series
of Parity Lien Debt, whether or not upon property otherwise constituting collateral for such Series of Parity Lien Debt, and that all such Parity Liens will be enforceable by the Collateral Trustee for the benefit of all holders of Parity Lien Debt
Obligations equally and ratably; 
 (b) the New Representative and each holder of Obligations in respect of the
Series of Parity Lien Debt for which the undersigned is acting as Parity Lien 

 
Debt Representative are bound by the provisions of this Agreement, including the provisions relating to the ranking of Parity Liens and the order of application of proceeds from the enforcement
of Parity Liens; and 
 (c) the Collateral Trustee shall perform its obligations under the Collateral Trust
Agreement and the other Security Documents. [or] 
 [Option B: to be used if Additional Debt is Priority Lien Debt] [The
undersigned New Representative, on behalf of itself and each holder of Obligations in respect of the Series of Priority Lien Debt for which the undersigned is acting as Priority Lien Debt Representative hereby agrees, for the enforceable benefit of
all holders of each existing and future Series of Priority Lien Debt and Parity Lien Debt, each current and future Parity Lien Debt Representative, each other existing and future Priority Lien Debt Representative and each current and future holder
of Priority Lien Obligation and Parity Lien Debt Obligations and as a condition to being treated as Secured Debt under the Collateral Trust Agreement that: 
 (a) all Priority Lien Debt Obligations will be and are secured equally and ratably by all Priority Liens at any time granted by the Borrower or any Guarantor to secure any Obligations in respect of any
Series of Priority Lien Debt, whether or not upon property otherwise constituting collateral for such Series of Priority Lien Debt, and that all such Priority Liens will be enforceable by the Collateral Trustee for the benefit of all holders of
Priority Lien Debt Obligations equally and ratably; 
 (b) the New Representative and each holder of Obligations
in respect of the Series of Priority Lien Debt for which the undersigned is acting as Priority Lien Debt Representative are bound by the provisions of this Agreement, including the provisions relating to the ranking of Priority Liens and the order
of application of proceeds from the enforcement of Priority Liens; and 
 (c) the Collateral Trustee shall
perform its obligations under the Collateral Trust Agreement and the other Security Documents.] 
 3. Governing Law and
Miscellaneous Provisions. The provisions of Article 7 of the Collateral Trust Agreement will apply with like effect to this Collateral Trust Joinder. 
 IN WITNESS WHEREOF, the parties hereto have caused this Collateral Trust Joinder to be executed by their respective officers or representatives as of
                    , 20    . 

 

			
	[insert name of the new representative]
		
	By:	 	  

		 	Name:
		 	Title:

 The Collateral Trustee hereby acknowledges receipt of this Collateral Trust Joinder and agrees to act as
Collateral Trustee for the New Representative and the holders of the Obligations represented thereby: 
  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee
		
	By:	 	  

		 	Name:
		 	Title:

 [EXHIBIT C 
 to Collateral Trust Agreement] 
 [FORM OF] 

COLLATERAL TRUST JOINDER – ADDITIONAL GUARANTOR 
 Reference is made to the Collateral Trust Agreement dated as of                     ,
20    (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”) among CARMIKE CINEMAS, INC. (the
“Borrower”), the Guarantors from time to time party thereto, MACQUARIE US TRADING LLC, as Administrative Agent under the Credit Agreement (as defined therein), WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee under the
Indenture (as defined therein) and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee. Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Collateral Trust
Joinder is being executed and delivered pursuant to Section 7.21 of the Collateral Trust Agreement. 
 1. Joinder.
The undersigned,                     , a
                    , hereby agrees to become party as a Guarantor under the Collateral Trust Agreement for all purposes thereof on the terms set
forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as if the undersigned had executed and delivered the Collateral Trust Agreement as of the date thereof. 

2. Governing Law and Miscellaneous Provisions. The provisions of Article 7 of the Collateral Trust Agreement will apply with
like effect to this Collateral Trust Joinder. 
 IN WITNESS WHEREOF, the parties hereto have caused this Collateral Trust
Joinder to be executed by their respective officers or representatives as of                     , 20    . 

 

			
	[                           
                                         
                ]
		
	By:	 	  

		 	Name:
		 	Title:

 The Collateral Trustee hereby acknowledges receipt of this Collateral Trust Joinder and agrees to act as Collateral
Trustee with respect to the Collateral pledged by the new Guarantor: 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee

		
	By:	 	  

		 	Name:
		 	Title:

 [EXHIBIT D 
 to Collateral Trust Agreement] 
 [FORM OF] 

ADDITIONAL SECURED OBLIGATION DESIGNATION 
 Reference is made to the Collateral Trust Agreement dated as of                     ,
20    (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”) among CARMIKE CINEMAS, INC. (the
“Borrower”), the Guarantors from time to time party thereto, MACQUARIE US TRADING LLC, as Administrative Agent under the Credit Agreement (as defined therein), WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee under the
Indenture (as defined therein) and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee. Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Additional Secured
Obligation Designation is being executed and delivered in order to designate Hedging Obligations or Bank Product Obligations as Priority Lien Debt Obligations entitled to the benefit of the Collateral Trust Agreement. 

The undersigned, the duly appointed [specify title] of the Borrower hereby certifies on behalf of the Borrower that: 

 

	 	(a)	[insert name of the Borrower or Guarantor] intends to incur [Hedging Obligations][Bank Product Obligations] pursuant to the following agreement: [describe
Hedge Agreement, Swap Transaction or agreement giving rise to Bank Product Obligations] which will be Priority Lien Debt Obligations and are permitted by each applicable Secured Debt Document; 

 

	 	(b)	the name and address of the [Hedge Provider][Bank Product Provider] is: 

  

					
		 	  

		
		 	  

			
		 	Telephone:	 	  

			
		 	Fax:	 	  

  

	 	(c)	the Borrower and each Guarantor has duly authorized, executed (if applicable) and recorded (or caused to be recorded) in each appropriate governmental office all
relevant filings and recordations to ensure that such [Hedge Provider][Bank Product Provider] are secured by the Collateral in accordance with the Security Documents, and 

 

	 	(d)	the Borrower has caused a copy of this Additional Secured Debt Designation and the related Collateral Trust Joinder to be delivered to each existing Secured Debt
Representative. 

 IN WITNESS WHEREOF, the Borrower has caused this Additional Secured Obligation Designation
to be duly executed by the undersigned officer as of                     , 20    . 

 

			
	CARMIKE CINEMAS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 ACKNOWLEDGEMENT OF RECEIPT 
 The undersigned, the duly appointed Collateral Trustee under the Collateral Trust Agreement, hereby acknowledges receipt of an executed copy of this Additional Secured Obligation Designation. 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	  

		 	Name:
		 	Title:

 [EXHIBIT E 
 to Collateral Trust Agreement] 
 [FORM OF] 

COLLATERAL TRUST JOINDER – ADDITIONAL SECURED OBLIGATIONS 

OTHER THAN DEBT 
 Reference is made to the Collateral Trust Agreement dated as of                     ,
20    (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”) among CARMIKE CINEMAS, INC. (the
“Borrower”), the Guarantors from time to time party thereto, MACQUARIE US TRADING LLC, as Administrative Agent under the Credit Agreement (as defined therein), WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee under the
Indenture (as defined therein) and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee. Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Collateral Trust
Joinder is being executed and delivered pursuant to Section 3.9 of the Collateral Trust Agreement as a condition precedent to the debt for which the undersigned is acting as agent being entitled to the benefits of being Priority Lien Debt
Obligations under the Collateral Trust Agreement. 
 1. Joinder. The undersigned,
                    , a                     ,
(the “New Secured Party”) as a [Hedge Provider] [Bank Product Provider] under that certain [describe applicable Hedge Agreement, Swap Transaction or agreement giving rise to Bank Product Obligations] hereby agrees to
become party as Secured Party under the Collateral Trust Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as if the undersigned had executed and delivered the
Collateral Trust Agreement as of the date thereof. 
 2. Lien Sharing and Priority Confirmation. 

The undersigned New Secured Party hereby agrees, for the enforceable benefit of each current and future Priority Lien Debt
Representative, each other current and future Parity Lien Debt Representative and each current and future holder of Priority Lien Debt Obligations and Parity Lien Debt Obligations and as a condition to being treated as Secured Debt under the
Collateral Trust Agreement that: 
 (a) all Priority Lien Debt Obligations will be and are secured equally and
ratably by all Priority Liens at any time granted by the Borrower or any Guarantor to secure any Obligations in respect of any Series of Priority Lien Debt, whether or not upon property otherwise constituting collateral for such Series of Priority
Lien Debt, and that all such Priority Liens will be enforceable by the Collateral Trustee for the benefit of all holders of Priority Lien Debt Obligations equally and ratably; 

(b) the New Representative and each holder of Obligations in respect of the Series of Priority Lien Debt for which the
undersigned is acting as Priority 

 
Lien Debt Representative are bound by the provisions of this Agreement, including the provisions relating to the ranking of Priority Liens and the order of application of proceeds from the
enforcement of Priority Liens; and 
 (c) the Collateral Trustee shall perform its obligations under the
Collateral Trust Agreement and the other Security Documents. 
 3. Governing Law and Miscellaneous Provisions. The
provisions of Article 7 of the Collateral Trust Agreement will apply with like effect to this Collateral Trust Joinder. 

IN WITNESS WHEREOF, the parties hereto have caused this Collateral Trust Joinder to be executed by their respective officers or
representatives as of                     , 20    . 

 

					
	[insert name of the new secured party]
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 The Collateral Trustee hereby acknowledges receipt of this Collateral Trust Joinder and agrees to act as Collateral
Trustee for the New Secured Party: 
  

					
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Trustee
		
	By:	 	  

		 	Name:	 	
		 	Title:

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