Document:

INTEREST FREE LOAN AGREEMENT
  
 This Agreement is made on June 19, 2018, between:
  
 (1) Olegas Tunevicius, S. Staneviciaus g. 78, Vilnius 07105 Lithuania (“the Lender”) 
 (2) Bigeon, Manesova 345/13, Ceske Budejovice 6, Ceske Budejovice, Czech Republic (“the Company”) 
  
 The parties agreed as follows:
  
 1.The lender shall lend to the Company the sum of $65,000 (“the Loan”) for a period expiring in 4 years upon the date of this agreement (‘the Repayment Date’). 
  
 2.In consideration of the Lender lending the Loan the Company covenants and undertakes to repay the Loan to the Lender on the Repayment Date or on any earlier date on which the Loan may become repayable pursuant to this agreement. 
  
 3.No interest shall be paid on the Loan except (without prejudice to the Company’s obligation under clause 2 above) if the Company shall fail to repay the Loan in full on the Repayment Date or to make any repayment of the whole or any part of the Loan on any date on which the same may become payable pursuant to this agreement in which event interest shall be paid on the Loan or the balance thereof from time to time outstanding from such date at the rate of 4% above the minimum base as well after as before judgment such interest to accrue from day to day to be payable monthly and if not paid to be compounded. 
  
 4.The right is reserved to the Company to repay to the Lender the whole or any part of the Loan prior to the Repayment Date upon giving the Lender 7 days’ written notice of its intention to make repayment and of the amount so to be repaid and such amount of the Loan shall then become repayable on the date so specified for repayment. 
  
 5.Notwithstanding anything else contained in this agreement the whole of the Loan or so much of it as for the time being remains outstanding and all interest accrued but unpaid shall immediately become repayable in any of the following events: 
  
 5.1. if an order be made or resolution be passed for winding up the Company otherwise than for voluntary liquidation for the purpose of reconstruction or amalgamation the terms of which have been previously approved in writing by the Lender; 
  
 5.2.if a distress or execution be levied or issued against any of the property of the Company and not be satisfied within 21 days; 
  
 5.3.if the Company shall cease to carry on its business or substantially the whole of its business or threaten to cease to carry on the same; 
  
 5.4.if a Receiver shall be appointed or any incumbrancer takes possession of the Company’s assets or any part of them or if without the prior approval of  the Lender a resolution is passed for a reduction of capital of the Company;
  
 5.5.if the Company shall commit or permit any breach of any of the stipulations and provisions contained in this agreement and on its part to be observed and performed. 
  
 6.The Lender shall not be entitled to assign the benefit of this agreement.   
  
 THE COMPANY
  
  
  
                                  Bigeon 
                   Name of the Company
  
               Olegas Tunevicius, President 
              Company’s Representative (title)
  
         Manesova 345/13, Ceske Budejovice 6,  
  
         Ceske Budejovice, Czech Republic          
                     Address of Registration 
  
  
 /s/ Olegas Tunevicius 
 Signature
  
 THE LENDER
  
  
                      Olegas Tunevicius 
                          Full Name 
  
                 S. Staneviciaus g. 78  
  
             Vilnius 07105 Lithuania  
                    Address of Registration 
  
  
 /s/ Olegas Tunevicius 
                            SignatureConverted by EDGARwiz

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pořadovým číslem 101006_032863, skládající se z 1 listů, se doslovně shoduje s obsahem vstupu.

Zajišťovací prvek: bez zajišťovacího prvku

Jméno a příjmení osoby, která konverzi provedla: MARTIN VEČEŘA

Vystavil: Česká pošta, s.p.

Pracoviště: Praha 1

Česká pošta, s.p. dne 28.06.2018

109064920-80734-180628115929CREDIT AGREEMENT

dated as of

December 11, 2018

among

EATON VANCE CORP.,

as a Borrower

EATON VANCE MANAGEMENT,

as Guarantor,

The Additional Borrowers from Time to
Time Parties Hereto,

The Lenders from Time to Time Parties
Hereto,

CITIBANK, N.A.,

as Syndication Agent

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent

$300,000,000 REVOLVING CREDIT FACILITY

 

 

WELLS FARGO SECURITIES, LLC, and

CITIBANK, N.A.,

as Joint Lead Arrangers and Joint Bookrunners

    	 

    	 

    

	ARTICLE I Definitions	1
	Section 1.01   Defined Terms	1
	Section 1.02   Classification of Loans and Borrowings	19
	Section 1.03   Terms Generally	19
	Section 1.04   Accounting Terms; GAAP	19
	Section 1.05   Rates	20
	Section 1.06   Divisions	20
	ARTICLE II The Credits	20
	Section 2.01   Commitments	20
	Section 2.02   Revolving Loans and Borrowings.	20
	Section 2.03   Requests for Borrowings of Revolving Loans	21
	Section 2.04   Funding of Borrowings of Revolving Loans.	22
	Section 2.05   Interest Elections.	22
	Section 2.06   Swingline Commitment.	24
	Section 2.07   Procedure for Swingline Borrowing; Refunding of Swingline Loans.	24
	Section 2.08   Termination and Reduction of Commitments.	26
	Section 2.09   Repayment of Loans; Evidence of Debt.	26
	Section 2.10   Prepayment of Loans.	27
	Section 2.11   Fees.	27
	Section 2.12   Interest.	28
	Section 2.13   Alternative Rate of Interest	28
	Section 2.14   Increased Costs.	30
	Section 2.15   Break Funding Payments	31
	Section 2.16   Taxes.	32
	Section 2.17   Payments Generally; Pro Rata Treatment; Sharing of Set-offs.	35
	Section 2.18   Mitigation Obligations; Replacement of Lenders.	37
	Section 2.19   New Lenders; Commitment Increases.	38
	Section 2.20   Defaulting Lenders	38
	Section 2.21   [Reserved].	39
	Section 2.22   Administrative Borrower	39
	Section 2.23   Illegality	40
	ARTICLE III Representations and Warranties	41
	Section 3.01   Organization; Powers	41
	Section 3.02   Authorization; Enforceability	41
	Section 3.03   Governmental Approvals; No Conflicts	41
	Section 3.04   Financial Condition; No Material Adverse Effect.	41
	Section 3.05   Properties.	42
	Section 3.06   Litigation and Environmental Matters.	42
	Section 3.07   Compliance with Laws and Agreements	42

    	 

    	 

    

	Section 3.08   Investment Company Status.	43
	Section 3.09   Taxes	43
	Section 3.10   ERISA	43
	Section 3.11   Disclosure	43
	Section 3.12   No Default	44
	Section 3.13   Subsidiaries	44
	Section 3.14   Federal Regulations	44
	Section 3.15   No Burdensome Restrictions	44
	Section 3.16   Anti-Corruption Laws; Sanctions	44
	Section 3.17   EEA Financial Institutions..	45
	ARTICLE IV Conditions	45
	Section 4.01   Closing Date	45
	Section 4.02   Each Credit Event	46
	ARTICLE V Affirmative Covenants	47
	Section 5.01   Financial Statements and Other Information	47
	Section 5.02   Notices of Material Events	48
	Section 5.03   Existence; Conduct of Business	49
	Section 5.04   Payment of Obligations	49
	Section 5.05   Maintenance of Properties; Insurance	49
	Section 5.06   Books and Records; Inspection Rights	49
	Section 5.07   Compliance with Laws	49
	Section 5.08   Use of Proceeds	49
	Section 5.09   Environmental Laws	50
	Section 5.10   Sanctions, Patriot Act Compliance	50
	ARTICLE VI Negative Covenants	50
	Section 6.01   Financial Condition Covenants.	50
	Section 6.02   Indebtedness	51
	Section 6.03   Liens	52
	Section 6.04   Fundamental Changes.	54
	Section 6.05   Acquisitions	54
	Section 6.06   Transactions with Affiliates	54
	Section 6.07   Changes in Fiscal Periods	55
	Section 6.08   Limitation on Sale of Assets	55
	Section 6.09   Sanctions; Anti-Corruption Use of Proceeds	56
	ARTICLE VII Events of Default	56
	Section 7.01   Events of Default	56
	Section 7.02   Application of Payments	58
	ARTICLE VIII The Guarantee	59
	Section 8.01   Guarantee.	59

    	 

    	 

    

	Section 8.02   No Subrogation	59
	Section 8.03   Amendments, etc	60
	Section 8.04   Guarantee Absolute and Unconditional	60
	Section 8.05   Reinstatement	61
	Section 8.06   Payments	61
	ARTICLE IX The Administrative Agent	61
	ARTICLE X Miscellaneous	64
	Section 10.01   Notices	64
	Section 10.02   Waivers; Amendments.	66
	Section 10.03   Expenses; Indemnity; Damage Waiver.	67
	Section 10.04   Successors and Assigns.	68
	Section 10.05   Survival	71
	Section 10.06   Counterparts; Integration; Effectiveness; Electronic Execution.	71
	Section 10.07   Severability	72
	Section 10.08   Right of Setoff	72
	Section 10.09   Governing Law; Jurisdiction; Consent to Service of Process.	72
	Section 10.10   WAIVER OF JURY TRIAL	73
	Section 10.11   Headings	73
	Section 10.12   Confidentiality.	73
	Section 10.13   Interest Rate Limitation	74
	Section 10.14   Additional Borrowers	74
	Section 10.15   USA Patriot Act	75
	Section 10.16   No Fiduciary or Advisory Responsibility	75
	Section 10.17   Acknowledgement and Consent to Bail-In of EEA Financial Institutions	76
	Section 10.18   Certain ERISA Matters.	76
	Section 10.19   Payments Set Aside	78
	Section 10.20   Limitation on Liability	78

    	 

    	 

    

ANNEXES

Annex A – Pricing Grid

SCHEDULES:

Schedule 2.01 – Commitments

Schedule 3.06 – Disclosed Matters

Schedule 3.08 – Investment Company Status

Schedule 3.13 – Subsidiaries

Schedule 6.02 – Existing Indebtedness

Schedule 6.03 – Existing Liens

EXHIBITS:

Exhibit A – Form of Assignment and Acceptance

Exhibit B – Form of Borrowing Request

Exhibit C – Form of Interest Election Request

Exhibit D – Form of Opinion of Company’s Counsel

Exhibit E – U.S. Tax Compliance Certificates

    	 

    	 

    

CREDIT AGREEMENT
dated as of December 11, 2018, among EATON VANCE CORP., EATON VANCE MANAGEMENT, the ADDITIONAL BORROWERS from time to time parties
hereto, the LENDERS from time to time parties hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent.

W I T N E S S E T H :

The parties hereto
agree as follows:

ARTICLE
I

Definitions

Section 1.01       
Defined Terms. As used in this Agreement, the following terms have the meanings specified below:

“ABR”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing
interest at a rate determined by reference to the Alternate Base Rate.

“Additional
Borrower” has the meaning assigned to such term in Section 10.14.

“Adjusted
LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum (rounded
upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory
Reserve Rate.

“Adjusted
Net Income Attributable to Shareholders” means, for any period, the net income (or loss) attributable to Eaton Vance
Corp. shareholders, determined on a consolidated basis in accordance with GAAP, provided that there shall be excluded (a)
the income (or deficit) of any Person accrued prior to the date it becomes a Subsidiary of the Company or is merged into or consolidated
with the Company or any of its Subsidiaries, (b) the income (or deficit) of any Person (other than a Subsidiary of the Company)
in which the Company or any of its Subsidiaries has an ownership interest, except to the extent that any such income is actually
received by the Company or such Subsidiary in the form of dividends or similar distributions, (c) the undistributed earnings
of any Subsidiary of the Company to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary
is not at the time permitted by the terms of any Contractual Obligation or Requirement of Law applicable to such Subsidiary, (d)
any non-cash impact of changes in the estimated redemption value of non-Controlling interests held by third parties in certain
Subsidiaries that are redeemable at other than fair value, (e) any upfront placement fees paid for the structuring of Eaton Vance
Funds that are registered with the Securities and Exchange Commission as closed-end investment companies, or any payment made to
terminate any compensation agreements in respect of such Eaton Vance Funds that were previously offered, not to exceed $20,000,000
in the aggregate in any fiscal year and (f) any extraordinary, unusual or non-recurring non-cash expenses or losses (including,
whether or not otherwise includable as a separate item in the statement of Adjusted Net Income Attributable to Shareholders for
such period, non-cash losses on sales of assets outside of the ordinary course of business).

    	 

    	 

    

“Administrative
Agent” means Wells Fargo Bank, National Association, in its capacity as administrative agent for the Lenders hereunder,
or any successor administrative agent.

“Administrative
Borrower” has the meaning assigned to such term in Section 2.22.

“Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent.

“Affiliate”
means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls
or is Controlled by or is under common Control with the Person specified; provided, however, that the Company shall
not be deemed an Affiliate of any Subsidiary and no Subsidiary shall be deemed an Affiliate of Company.

“Agent
Parties” has the meaning specified in Section 10.01(d)(ii).

“Agreement”
means this Credit Agreement.

“Alternate
Base Rate” means, for any day, a rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the
greatest of (a) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%, (b) the Prime Rate in effect on such
day and (c) the LIBO Rate that would be calculated as of such day (or, if such day is not a Business Day, as of the next preceding
Business Day) in respect of a proposed Eurodollar Loan with a one-month Interest Period plus 1.0%. Any change in the Alternate
Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or such LIBO Rate shall be effective from and including
the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or such LIBO Rate, respectively. If the Alternate
Base Rate is being used as an alternate rate of interest pursuant to Section 2.13, then the Alternate Base Rate shall be
the greater of clause (a) and (b) above and shall be determined without reference to clause (c) above; provided that the
Alternate Base Rate shall not be less than 1% per annum.

“Anti-Corruption
Laws” has the meaning assigned to such term in Section 3.16.

“Applicable
Margin” means, for any day, with respect to any ABR Loan or Eurodollar Loan, the applicable percentage determined pursuant
to the Pricing Grid attached hereto as Annex A.

“Applicable
Percentage” means, with respect to any Lender, the percentage of the total Commitments represented by such Lender’s
Commitment; provided that, solely for the purposes of Section 2.20(c) when a Defaulting Lender shall exist, “Applicable
Percentage” shall mean the percentage of the total Commitments (disregarding any Defaulting Lender’s Commitment) represented
by such Lender’s Commitment. If the Commitments have terminated or expired, the Applicable Percentages shall be determined
based upon the Commitments most recently in effect, giving effect to any permitted assignments and to any Lender’s status
as a Defaulting Lender at the time of determination.

“Approved
Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity
that administers or manages a Lender.

    	 

    	 

    

“Assignment
and Acceptance” means an assignment and acceptance entered into by a Lender and an assignee (with the consent of any
party whose consent is required by Section 10.04), and accepted by the Administrative Agent, in the form of Exhibit A
or any other form approved by the Administrative Agent and the Company.

“Availability
Period” means the period from and including the Closing Date to but excluding the Termination Date.

“Bail-In
Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect
of any liability of an EEA Financial Institution.

“Bail-In
Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European
Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time that is
described in the EU Bail-In Legislation Schedule.

“Bankruptcy
Event” means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency proceeding, or
has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged
with the reorganization or liquidation of its business appointed for it, or, in the good faith determination of the Administrative
Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding
or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition
of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further,
that such ownership interest does not result in or provide such Person with immunity from the jurisdiction of courts within the
United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental
Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.

“Beneficial
Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership
Regulation.

“Beneficial
Ownership Regulation” has the meaning set forth in Section 4.1(i).

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

“Borrower
Obligations” means the collective reference to the unpaid principal of and interest on the Loans and all other obligations
and liabilities of the Borrowers (including, without limitation, interest and fees accruing at the then applicable rate provided
in this Agreement after the maturity of the Loans and interest and fees accruing at the then applicable rate provided in this Agreement
after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating
to the Borrowers, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative
Agent or any Lender, 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 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 Administrative Agent or to the Lenders that are required to be paid by
the Borrowers pursuant to the terms of this Agreement).

“Borrowers”
means the collective reference to the Company and any Additional Borrowers.

“Borrowing”
means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a
single Interest Period is in effect.

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

“Business
Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized
or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan, the term “Business
Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market.

“Capital
Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease of
(or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required
to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations
shall be the capitalized amount thereof determined in accordance with GAAP.

“Capital
Stock” means any and all shares, interests, participations or other equivalents (however designated) of capital stock
of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights
or options to purchase any of the foregoing.

“Change
in Control” means

(1)       the
direct or indirect sale, transfer or conveyance or other disposition (other than by way of merger or consolidation), in one or
a series of related transactions, of all or substantially all of the Company’s properties or assets and those of the Company’s
subsidiaries, taken as a whole, to any “person” or “group” (as those terms are used in Sections 13(d) and
14(d) of the Securities Exchange Act of 1934, as amended), other than the Company or one or more of the Company’s subsidiaries;

(2)       the
adoption of a plan relating to the Company’s liquidation or dissolution; or

(3)       the
consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that (i) the
Permitted Holders own less than 50% of the Company’s Voting Stock, measured by voting power rather than number of
shares, and (ii) any “person” or “group” (as those terms are used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended), becomes the beneficial owner, directly or indirectly, of more of the Company’s Voting
Stock than the Permitted Holders, measured by voting power rather than number of shares.

    	 

    	 

    

Notwithstanding
the foregoing, a transaction effected to create a holding company for the Company will not be deemed to involve a Change in Control
if (1) pursuant to such transaction the Company becomes a Controlled subsidiary of such holding company and (2) the holders
of the Voting Stock of such holding company immediately following such transaction are the same as the holders of the Company’s
Voting Stock immediately prior to such transaction.

“Change
in Law” means (a) the adoption or taking effect of any law, rule, treaty or regulation after the date of this Agreement,
(b) any change in any law, rule, treaty or regulation or in the administration, implementation, interpretation or application
thereof by any Governmental Authority as evidenced in writing by any publication of such Governmental Authority after the date
of this Agreement or (c) compliance by any Lender (or, for purposes of Section 2.14(b), by any lending office of such
Lender or by such Lender’s holding company, if any) with any request, guideline or directive (whether or not having the force
of law) of any Governmental Authority made or issued after the date of this Agreement. Notwithstanding anything in this Agreement
to the contrary, (i) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International
Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or by United States or foreign
regulatory authorities, in each case pursuant to Basel III, and (ii) the Dodd-Frank Wall Street Reform and Consumer Protection
Act and all requests, rules, guidelines, requirements and directives thereunder or issued in connection therewith or in implementation
thereof, shall in each case be deemed to be a Change in Law, regardless of the date enacted, adopted, issued or implemented.

“Charges”
has the meaning assigned to such term in Section 10.13.

“Closing
Date” means the date on which the conditions precedent set forth in Section 4.01 shall have been satisfied or
waived in accordance with Section 10.02, which date is December 11, 2018.

“Code”
means the Internal Revenue Code of 1986, as amended from time to time.

“Commitment”
means, with respect to each Lender, the commitment of such Lender to make Revolving Loans and participate in Swingline Loans hereunder,
expressed as an amount representing the maximum aggregate outstanding principal amount of such Lender’s Revolving Loans and
participations in Swingline Loans hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08,
(b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.04 and (c)
increased from time to time pursuant to Section 2.19. The initial amount of each Lender’s Commitment is set forth
on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender shall have assumed its Commitment, as
applicable, and the initial aggregate amount of the Commitments of the Lenders (as set forth on Schedule 2.01) is $300,000,000.

“Communications”
has the meaning specified in Section 10.01(d)(ii).

“Company”
means Eaton Vance Corp., a Maryland corporation.

“Company
Information” has the meaning assigned to such term in Section 10.12(b).

    	 

    	 

    

“Consolidated
EBITDA” means, for any period, Adjusted Net Income Attributable to Shareholders for such period plus, without
duplication and to the extent reflected as a charge in the statement of such Adjusted Net Income Attributable to Shareholders for
such period, the sum of (a) income tax expense, (b) interest expense, amortization or writeoff of debt discount and debt issuance
costs and commissions, discounts and other fees and charges associated with Indebtedness (including the Loans), (c) depreciation
and amortization expense, (d) amortization of intangibles (including, but not limited to, write-offs of goodwill) and organization
costs and (e) any non-cash stock-based compensation charges or expenses, minus any extraordinary, unusual or non-recurring
income or gains (including, whether or not otherwise includable as a separate item in the statement of such Adjusted Net Income
Attributable to Shareholders for such period, gains on the sales of assets outside of the ordinary course of business), and any
other non-cash income, all as determined on a consolidated basis. For any period, the income or loss from Derivatives Transactions
and Hedging Agreements, including amounts accounted for in shareholders’ equity, shall be added or subtracted (as the case
may be) from Consolidated EBITDA for such period to the extent such amounts are not reflected as a revenue or charge (as the case
may be) in the statement of Adjusted Net Income Attributable to Shareholders for such period. The income or loss from Derivatives
Transactions and Hedging Agreements, including amounts accounted for in shareholders’ equity, shall not be considered an
extraordinary, unusual or non-recurring item. For the purposes of calculating Consolidated EBITDA for any period of four consecutive
fiscal quarters (each, a “Reference Period”) for use in any determination of the Consolidated Leverage Ratio,
(i) if at any time during such Reference Period the Company or any Subsidiary shall have made any Material Disposition, the Consolidated
EBITDA for such Reference Period shall be reduced by an amount equal to the Consolidated EBITDA (if positive) attributable to the
property that is the subject of such Material Disposition for such Reference Period or increased by an amount equal to the Consolidated
EBITDA (if negative) attributable thereto for such Reference Period and (ii) if during such Reference Period the Company or any
Subsidiary shall have made a Material Acquisition, Consolidated EBITDA for such Reference Period shall be calculated after giving
pro forma effect thereto as if such Material Acquisition occurred on the first day of such Reference Period. As used in
this definition, “Material Acquisition” and “Material Disposition” refer to any acquisition
of or combination with a business or any disposition of a business by the Company or any of its Subsidiaries which would be considered
significant for purposes of the pro forma financial information requirements of Regulation S-X of the Securities and Exchange
Commission.

“Consolidated
Funded Debt” means, at any date, the aggregate principal amount of all Indebtedness of the Company and its Subsidiaries
at such date, determined on a consolidated basis in accordance with GAAP.

“Consolidated
Interest Coverage Ratio” means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated
Interest Expense for such period.

“Consolidated
Interest Expense” means, for any period, interest expense (including that attributable to Capital Lease Obligations)
of the Company and its Subsidiaries for such period with respect to all outstanding Indebtedness of the Company and its Subsidiaries
(including all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance
financing and net costs under Hedging Agreements in respect of interest rates to the extent such net costs are allocable to such
period in accordance with GAAP).

    	 

    	 

    

“Consolidated
Leverage Ratio” means, as at the last day of any period of four consecutive fiscal quarters, the ratio of (a) Consolidated
Funded Debt on such day to (b) Consolidated EBITDA for such period.

“Contractual
Obligation” means, as to any Person, any provision of any security issued by such Person or of any material agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound.

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a
Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled”
have meanings correlative thereto.

“Credit
Party” means the Administrative Agent, the Swingline Lender or any other Lender.

“Debtor
Relief Laws” means the Bankruptcy Code of the United States of America, and all other liquidation, conservatorship, bankruptcy,
assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor
relief Laws of the United States or other applicable jurisdictions from time to time in effect.

“Default”
means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured
or waived, become an Event of Default.

“Defaulting
Lender” means any Lender that (a) has failed, within two Business Days of the date required to be funded or paid, to
(i) fund any portion of its Loans, (ii) fund any portion of its participations in Swingline Loans or (iii) pay over to any Credit
Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Lender notifies the Administrative
Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to
funding (specifically identified and including the particular default, if any) has not been satisfied, (b) has notified any Borrower
or any Credit Party in writing, or has made a public statement to the effect, that it does not intend or expect to comply with
any of its funding obligations under this Agreement (unless such writing or public statement indicates that such position is based
on such Lender’s good faith determination that a condition precedent (specifically identified and including the particular
default, if any) to funding a Loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits
to extend credit, (c) has failed, within three Business Days after request by a Credit Party, acting in good faith, to provide
a certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially
able to meet such obligations) to fund prospective Loans and participations in then outstanding Swingline Loans under this Agreement,
provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt
of such certification in form and substance satisfactory to it and the Administrative Agent, or (d) has, or has a direct or indirect
parent company that has, either (1) become the subject of a Bankruptcy Event or (2) become the subject
of a Bail-in Action.

“Derivatives
Transaction” means any short sale of a security, reverse repurchase agreement, dollar roll, financial futures contract,
option, option on futures, forward contract, forward rate agreement, warrant, swap, swaption, collar, floor, cap and other agreement,

    	 

    	 

    

instrument and derivative and other
transactions of a similar nature (whether currency linked, index linked, insurance risk linked, credit risk linked, equity basket
linked or otherwise).

“Disclosed
Matters” means the actions, suits and proceedings and the environmental matters disclosed in Schedule 3.06.

“dollars”
or “$” refers to lawful money of the United States of America.

“Eaton
Vance Fund” means any separately managed accounts, any closed-end or open-end or other mutual fund, any collateralized
debt obligation or any privately offered investment vehicle sponsored by the Company or any of its Subsidiaries or any fund for
which the Company or any of its Subsidiaries provides investment advisory, management, administrative, underwriting or similar
services.

“EEA Financial Institution”
means (a) any credit institution or investment firm established in any EEA Member Country that is subject to the supervision
of an EEA Resolution Authority, (b) any entity established in an EEA Member Country that is a parent of an institution described
in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country that is a subsidiary
of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

“EEA Member Country”
means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

“EEA Resolution Authority”
means any public administrative authority or any person entrusted with public administrative authority of any EEA Member Country
(including any delegee) having responsibility for the resolution of any EEA Financial Institution.

“Employees”
means, at any time, individuals then devoting substantially all of their business and professional time to the Company’s
activities or any of the Company’s Subsidiaries or any such individuals who, within 270 days prior thereto, have so devoted
their professional time and the estates and legal representatives of such individuals.

“Environmental
Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding
agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation
or reclamation of natural resources, the management, release or threatened release of any Hazardous Material or to health and safety
matters.

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

    	 

    	 

    

“ERISA”
means the Employee Retirement Income Security Act of 1974.

“ERISA
Affiliate” means any trade or business (whether or not incorporated) that, together with the Company, is treated as a
single employer within the meaning of Section 4001(b)(1) of ERISA or subsections (b), (c), (m) or (o) of Section 414 of the Code.

“ERISA
Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued thereunder
with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) the failure of the Company or
any ERISA Affiliate to make by its due date a required installment under Section 430(j) of the Code with respect to any Plan or
any failure by any Plan to satisfy the minimum funding standards (within the meaning of Section 412 of the Code or Section 302
of ERISA) applicable to such Plan, whether or not waived; (c) the filing pursuant to Section 412(c) of the Code or Section
302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence
by the Company or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan;
(e) the receipt by the Company or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention
to terminate any Plan or Plans (other than a Plan that is a defined contribution plan) or to appoint a trustee to administer any
Plan; (f) the incurrence by the Company or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial
withdrawal from any Plan or Multiemployer Plan; (g) the receipt by the Company or any ERISA Affiliate of any notice, or the receipt
by any Multiemployer Plan from the Company or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability
or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title
IV of ERISA; (h) a determination that a Plan is, or is expected to be, in “at risk” status (within the meaning
of Section 430 of the Code or Section 303 of ERISA); (i) the failure by the Company or any of its ERISA Affiliates to make any
required contribution to a Multiemployer Plan pursuant to Sections 431 or 432 of the Code; (j) the receipt by the Company or any
of its ERISA Affiliates of any notice, or the receipt by any Multiemployer Plan from the Company or any of its ERISA Affiliates
of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected
to be, in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Section 305
of ERISA), or terminated (within the meaning of Section 4041A of ERISA); or (k) the failure by the Company or any of its ERISA
Affiliates to pay when due (after expiration of any applicable grace period) any installment payment with respect to Withdrawal
Liability under Section 4201 of ERISA.

“EU Bail-In
Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor
person), as in effect from time to time.

“Eurodollar”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing
interest at a rate determined by reference to the Adjusted LIBO Rate.

“Event
of Default” has the meaning assigned to such term in Article VII.

“Excluded
Taxes” means, with respect to the Administrative Agent, any Lender, or any other recipient of any payment to be made
by or on account of any obligation of the Borrowers hereunder, (a) income or franchise taxes imposed on (or measured by) its
net income by the United

    	 

    	 

    

States of America, or by the jurisdiction
under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender,
in which its applicable lending office is located, (b) any branch profits taxes imposed by the United States of America or
any similar tax imposed by any other jurisdiction in which a Borrower is located, (c) in the case of a Foreign Lender (other
than an assignee pursuant to a request by the Company under Section 2.18(b)), any U.S. federal withholding tax that is imposed
on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to this Agreement or is attributable
to such Foreign Lender’s failure or inability to comply with Section 2.16(f), except to the extent that such Foreign
Lender’s assignor (if any) was entitled, at the time of assignment, to receive additional amounts from the Borrowers with
respect to such withholding tax pursuant to Section 2.16(a) or (d) any U.S. federal withholding Taxes imposed under FATCA.

“Existing
Credit Agreement” means the Credit Agreement, dated as of October 21, 2014, as amended, amended and restated, extended
or otherwise modified from time to time prior to the Closing Date, among the Company, the Guarantor, the additional borrowers party
thereto, the lenders party thereto and Wells Fargo Bank, National Association, as the administrative agent.

“Exposure”
means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans
and such Lender’s Swingline Exposure at such time.

“Facility
Fee Rate” has the meaning set forth in Annex A.

“FATCA”
means sections 1471 through 1474 of the Code (or any amended or successor version that is substantively comparable and not materially
more onerous to comply with) and any current or future regulations or official interpretations thereof and any agreement entered
into pursuant to section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant
to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code.

“Federal
Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%)
of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published on the next succeeding
Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day,
the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received
by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. Notwithstanding the foregoing,
if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

“Financial
Officer” means the chief financial officer, principal accounting officer, treasurer or controller of the Company.

“Foreign
Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the Borrowers are
located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be
deemed to constitute a single jurisdiction.

    	 

    	 

    

“Fund”
means any Person that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar
extensions of credit in the ordinary course of its business.

“GAAP”
means generally accepted accounting principles in the United States of America.

“Governmental
Authority” means the government of the United States of America, any other nation or any political subdivision thereof,
whether state or local, and any agency, authority, instrumentality, regulatory body (including self-regulatory body), court, central
bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government, including, in any event, the Securities and Exchange Commission and any applicable state securities commission
or similar body (including any supra-national bodies such as the European Union or the European Central Bank) and any group or
body charged with setting financial accounting or regulatory capital rules or standards (including, without limitation, the Financial
Accounting Standards Board, the Bank for International Settlements or the Basel Committee on Banking Supervision or any successor
or similar authority to any of the foregoing).

“Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”)
in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase
or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to
advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities
or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to
maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to
enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of
credit or letter of guaranty issued to support such Indebtedness or obligation; provided, that the term Guarantee shall
not include endorsements for collection or deposit in the ordinary course of business.

“Guarantor”
means Eaton Vance Management, a Massachusetts business trust.

“Hazardous
Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other
pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls,
radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental
Law.

“Hedging
Agreement” means any interest rate protection agreement, foreign currency exchange agreement, commodity price protection
agreement or other interest or currency exchange rate or commodity price hedging arrangement.

“IFRS”
means International Financial Reporting Standards and applicable accounting requirements set by the International Accounting Standards
Board or any successor thereto (or the Financial Accounting Standards Board, the Accounting Principles Board of the American Institute

    	 

    	 

    

of Certified Public Accountants, or
any successor to either such Board, or the Securities and Exchange Commission, as the case may be), as in effect from time to time.

“Indebtedness”
of any Person means, without duplication, (a) all obligations of such Person for borrowed money or with respect to deposits or
advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all
obligations of such Person upon which interest charges are customarily paid, (d) all obligations of such Person under conditional
sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect
of the deferred purchase price of property or services (excluding accounts payable incurred in the ordinary course of business
that are not more than 90 days past due), (f) all Indebtedness of others secured by any Lien on property owned or acquired by such
Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guarantees by such Person of Indebtedness of
others, (h) all Capital Lease Obligations of such Person, (i) all obligations, contingent or otherwise, of such Person as
an account party in respect of letters of credit and letters of guaranty, (j) all obligations, contingent or otherwise, of
such Person in respect of bankers’ acceptances and (k) for purposes of Section 7.01(f) and (g) only, net
liabilities of such Person under Hedging Agreements.

“Indemnified
Taxes” means Taxes other than Excluded Taxes.

“Indemnitee”
has the meaning assigned to such term in Section 10.03(b).

“Interest
Election Request” means a request by the Administrative Borrower to convert or continue a Borrowing in accordance with
Section 2.05.

“Interest
Payment Date” means (a) with respect to any ABR Loan, the last day of each March, June, September and December, and (b)
with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part
and, in the case of a Eurodollar Borrowing with an Interest Period of more than three months’ duration, each day prior to
the last day of such Interest Period that occurs at intervals of three months’ duration, after the first day of such Interest
Period.

“Interest
Period” means with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and ending
on the numerically corresponding day in the calendar month that is one, two, three, six or (if available to all Lenders) twelve
months thereafter, as the Administrative Borrower may elect; provided, that (i) if any Interest Period would end on a day
other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding
Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business
Day, (ii) any Interest Period pertaining to a Eurodollar Borrowing that commences on the last Business Day of a calendar month
(or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end
on the last Business Day of the last calendar month of such Interest Period, and (iii) no Interest Period shall extend beyond
the Termination Date. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made
and, in the case of a Borrowing, thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.

    	 

    	 

    

“Lenders”
means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an Assignment
and Acceptance, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Acceptance.

“LIBO Rate”
means, subject to the implementation of a LIBO Rate Successor Rate in accordance with Section 2.13, with respect to any
Eurodollar Borrowing for any Interest Period, the rate as published by the ICE Benchmark Administration Limited, a United Kingdom
company, or a comparable successor quoting service approved by the Administrative Agent, at approximately 11:00 a.m., London time,
two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable
to such Interest Period. In the event that such rate is not available at such time for any reason, then the “LIBO Rate”
with respect to such Eurodollar Borrowing for such Interest Period shall be the rate at which dollar deposits for a maturity comparable
to such Interest Period are offered by first class banks in the London interbank market to the Administrative Agent at approximately
11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period. If, at any time, the LIBO Rate would
be less than zero based on the above determination, the LIBO Rate shall be deemed to be zero. Notwithstanding the foregoing, unless
otherwise specified in any amendment to this Agreement entered into in accordance with Section 2.13, in the event that a
LIBO Rate Successor Rate with respect to the LIBO Rate is implemented then all references herein to the LIBO Rate shall be deemed
references to such LIBO Rate Successor Rate.

“LIBO Rate
Successor Rate” has the meaning assigned thereto in Section 2.13.

“Lien”
means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security
interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease
or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating
to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such
securities.

“Loan Parties”
means the Borrowers and the Guarantor.

“Loans”
means any loan made by any Lender to any Borrower pursuant to this Agreement.

“Material
Adverse Effect” means a material adverse effect on (a) the business, assets, property, operating results, or condition,
financial or otherwise, of the Company and its Subsidiaries taken as a whole, (b) the validity or enforceability of this Agreement
or (c) the rights or remedies of the Administrative Agent or the Lenders hereunder.

“Material
Indebtedness” means Indebtedness (other than the Loans), or obligations in respect of one or more Hedging Agreements,
of any one or more of the Company and its Subsidiaries in an aggregate principal amount exceeding $50,000,000. For purposes of
determining Material Indebtedness, the “principal amount” of the obligations of the Company or any Subsidiary in respect
of any Hedging Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that the Company
or such Subsidiary would be required to pay if such Hedging Agreement were terminated at such time.

“Maximum
Rate” has the meaning assigned to such term in Section 10.13.

    	 

    	 

    

“Moody’s”
means Moody’s Investors Service, Inc. and any successor thereto.

“Multiemployer
Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA.

“New Lender”
has the meaning set forth in Section 2.19(a).

“Other
Taxes” means any and all present or future stamp or documentary taxes or any other excise or property taxes, charges
or similar levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with
respect to, this Agreement.

“Participant”
has the meaning set forth in Section 10.04(e).

“Participant
Register” has the meaning set forth in Section 10.04(e).

“Parent”
means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary.

“Patriot
Act” has the meaning set forth in Section 10.14.

“PBGC”
means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing similar functions.

“Permitted
Acquisition” means an acquisition of a Person, or the assets of a Person or a line of business of a Person (whether by
the merger, consolidation or acquisition of Capital Stock or other equity interests, assets or any combination thereof) in the
same or a related line of business as the Company or any Subsidiary, provided that after giving effect to such acquisition
(a) no Default or Event of Default shall have occurred and be continuing, (b) the Company shall be in compliance, on a pro
forma basis, as of the end of the most recent fiscal quarter of the Company with the provisions of Section 6.01, and
(c) in the case of an acquisition involving aggregate consideration comprised of cash and any assumed liabilities on the closing
date of such acquisition equal to $250,000,000 or more, at least three Business Days prior to the closing date of such acquisition,
the Company shall have furnished to the Administrative Agent and the Lenders a compliance certificate to the effect of clauses
(a) and (b) showing in reasonable detail the calculations supporting the determination of compliance, on a pro forma basis,
with such provisions.

“Permitted
Encumbrances” means:

(a)              
Liens imposed by law for taxes, assessments or other governmental charges that are not yet due or are being contested in
compliance with Section 5.04;

(b)              
Carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed
by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 60 days or are being
contested in compliance with Section 5.04;

(c)              
pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment
insurance and other social security laws or regulations;

    	 

    	 

    

(d)              
deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance
bonds and other obligations of a like nature, in each case in the ordinary course of business;

(e)              
easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the
ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected
property or interfere with the ordinary conduct of business of the Company or any Subsidiary;

(f)               
judgment Liens in respect of judgments rendered against the Company, any Subsidiary of the Company or any combination thereof
(i) that represent wholly insured Indebtedness, or partially insured or wholly uninsured Indebtedness so long as the aggregate
uninsured Indebtedness does not exceed $50,000,000; or (ii) that are not in effect for more than 75 days; or (iii) that attach
to an immaterial portion of the assets of the applicable Person; or (iv) that individually or in the aggregate could not reasonably
be expected to have a Material Adverse Effect;

(g)              
rights of setoff and similar arrangements and Liens arising in the ordinary course of business in respect of cash management
obligations and in favor of depository and securities intermediaries to secure obligations owed in respect of card obligations
or any overdraft and related liabilities arising from treasury, depository and cash management services or any automated clearing
house transfers of funds and fees and similar amounts related to bank accounts or securities accounts (including Liens securing
letters of credit, bank guarantees or similar instruments supporting any of the foregoing);

(h)              
Liens (i) on “earnest money” or similar deposits or other cash advances in connection with Permitted Acquisitions
or (ii) consisting of an agreement to dispose of any property or asset in a disposition permitted under Sections 6.06 and
6.08, including customary rights and restrictions contained in such agreements;

(i)                
leases, licenses, subleases or sublicenses granted to others in the ordinary course of business which do not (i) interfere
in any material respect with the business of the Company or any Subsidiary or (ii) secure any Indebtedness;

(j)                
Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the course of collection
and (ii) attaching to commodity trading accounts or other commodities brokerage accounts incurred in the ordinary course of business,
including Liens encumbering reasonable customary initial deposits and margin deposits;

(k)              
ground leases in respect of real property on which facilities owned or leased by the Company or any of its Subsidiaries
are located and other Liens affecting the interest of any landlord (and any underlying landlord) of any real property leased by
the Company or any Subsidiary;

(l)                
Liens arising from precautionary Uniform Commercial Code financing statement filings regarding operating leases or consignments
entered into by the Company and its Subsidiaries in the ordinary course of business; and

    	 

    	 

    

(m)            
Liens, pledges or deposits made in the ordinary course of business to secure liability to insurance carriers.

“Permitted
Holders” means (i) the Company, (ii) one or more of the Company’s Subsidiaries, (iii) any Employee and (iv) a voting
trust having a majority of its trustees who are Employees and a majority of holders of its trust certificates or holders of uncertificated
interests in such voting trust who are Employees.

“Permitted
Liens” has the meaning set forth in Section 6.03.

“Person”
means any natural person, corporation, limited liability company, trust, joint venture, association, borrower, partnership, Governmental
Authority or other entity.

“Plan”
means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section
412 of the Code or Section 302 of ERISA, and in respect of which the Company or any ERISA Affiliate is (or, if such plan were terminated,
would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA or under which
the Company or an ERISA Affiliate has or is reasonably expected to incur liability.

“Platform”
means Debt Domain, Intralinks, Syndtrak, DebtX or a substantially similar electronic transmission system.

“Pricing
Grid” means the Pricing Grid attached hereto as Annex A.

“Prime
Rate” means, at any time, the rate of interest per annum publicly announced from time to time by the Administrative Agent
as its prime rate. Each change in the Prime Rate shall be effective as of the opening of business on the day such change in such
prime rate occurs. The parties hereto acknowledge that the rate announced publicly by the Administrative Agent as its prime rate
is an index or base rate and shall not necessarily be its lowest or best rate charged to its customers or other banks.

“PTE” means a prohibited
transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

 

“Refunded
Swingline Loans” has the meaning assigned to such term in Section 2.07(b).

“Register”
has the meaning set forth in Section 10.04(c).

“Related
Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers,
employees, agents and advisors of such Person and such Person’s Affiliates.

“Required
Lenders” means Lenders having Exposures and unused Commitments representing greater than 50% of the sum of the total
Exposures and unused Commitments at such time.

“Requirement
of Law” means, as to any Person, the Certificate of Incorporation and By-Laws or other organizational or governing documents
of such Person, and any law, treaty, rule or

    	 

    	 

    

regulation or determination of an arbitrator
or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to
which such Person or any of its property is subject.

“Revolving
Loans” has the meaning assigned to such term in Section 2.01.

“S&P”
means S&P Global Ratings, a division of S&P Global Inc., or any successor to its rating agency business.

“Sanctions”
means sanctions administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control, the U.S.
Department of State, the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions
authority.

“Scheduled
Unavailability Date” shall have the meaning assigned to such term in Section 2.13(b)(ii).

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

“subsidiary”
means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership,
association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated
financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation,
limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing
more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the
general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise
Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent.

“Subsidiary”
means any subsidiary of the Company except that no Eaton Vance Fund shall be deemed to be a “Subsidiary” hereunder.
To the extent that FIN 46R, FASB 167 or any successor or similar applicable accounting pronouncement adopted by the Company requires
consolidation of the account of any Eaton Vance Fund with the account of the Company in the consolidated financial statements of
the Company, the impact of FIN 46R, FASB 167 or any successor or similar accounting pronouncement shall be excluded for the purpose
of calculating the financial condition covenants in Section 6.01. Any Indebtedness or other obligations or liabilities of
any Eaton Vance Fund shall not be considered Indebtedness of the Company or a Borrower Obligation.

    	 

    	 

    

“Swingline
Commitment” means the obligation of the Swingline Lender to make Swingline Loans pursuant to Section 2.06 in an
aggregate principal amount at any one time outstanding not to exceed $35,000,000.

“Swingline
Exposure” means, at any time, the sum of the aggregate amount of all outstanding Swingline Loans at such time. The Swingline
Exposure of any Lender at any time shall be its Applicable Percentage of the total Swingline Exposure at such time.

“Swingline
Lender” means Wells Fargo Bank, National Association, in its capacity as the lender of Swingline Loans.

“Swingline
Loans” has the meaning set forth in Section 2.06(a).

“Swingline
Participation Amount” has the meaning set forth in Section 2.07(c).

“Taxes”
means any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed by any Governmental
Authority, including any interest, additions to tax or penalties applicable thereto.

“Termination
Date” means December 11, 2023, or such earlier date as the Commitments shall terminate pursuant to the terms hereof (or,
if such day is not a Business Day, the next preceding Business Day).

“Transactions”
means the execution, delivery and performance by the Company and the Guarantor of this Agreement, the borrowing of Loans, the guarantee
by the Guarantor hereunder and the use of the proceeds of the Loans.

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

“U.S. Person”
means an “United States person” within the meaning of Section 7701(a)(30) of the Code.

“U.S. Tax
Compliance Certificate” has the meaning set forth in Section 2.16(f)(ii)(B)iii.

“Voting
Stock” as applied to the stock of any Person, means shares, interests, participations, or other equivalents in the equity
interest (however designated) in such Person having ordinary voting power for the election of a majority of the directors (or the
equivalent) of such Person, other than shares, interests, participations or other equivalents having such power only by reason
of the occurrence of a contingency.

“Withdrawal
Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer
Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA.

“Write-Down
and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such
EEA Resolution Authority from time to

    	 

    	 

    

time under the Bail-In Legislation for
the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.

Section 1.02       
Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by
Type (e.g., a “Eurodollar Loan”). Borrowings also may be classified and referred to by Type (e.g., a
“Eurodollar Borrowing”).

Section 1.03       
Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The
words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without
limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”.
Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein
shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein
to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof”
and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not
to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed
to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property”
shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties,
including cash, securities, accounts and contract rights.

Section 1.04       
Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature
shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Company notifies the Administrative
Agent that the Company requests an amendment to any provision hereof to eliminate the effect of any change occurring after the
date hereof in GAAP (including as a result of the adoption of IFRS) or in the application thereof on the operation of such provision
(or if the Administrative Agent notifies the Company that the Required Lenders request an amendment to any provision hereof for
such purpose), regardless of whether any such notice is given before or after such change in GAAP (including as a result of the
adoption of IFRS) or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and
applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision
amended in accordance herewith. If at any time any change in GAAP (including as a result of the adoption of IFRS) would affect
the computation of any financial ratio or requirement set forth herein, and the Company or the Administrative Agent shall so request,
the Administrative Agent and the Company shall negotiate in good faith to amend such ratio or requirement to preserve the original
intent thereof in light of such change in GAAP (including as a result of the adoption of IFRS), subject to the approval of the
Required Lenders; provided that until so amended, such ratio or requirement shall continue to be computed in accordance
with GAAP prior to such change therein (and the Company shall provide backup reasonably acceptable to the Administrative Agent
in respect of computations of any such ratio or requirement). Notwithstanding the foregoing, for purposes of determining compliance
with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of the Company and its Subsidiaries
shall be

    	 

    	 

    

deemed to be carried at 100% of the
outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities shall be disregarded.

Section 1.05       
Rates. The Administrative Agent does not warrant or accept responsibility for, and shall not have any liability with
respect to, the administration, submission or any other matter related to the rates in the definition of “LIBO Rate”.

Section 1.06       
Divisions. For all purposes under the Credit Agreement or the documents contemplated thereby, in connection with
any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a)
if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person,
then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes
into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its
Capital Stock at such time.

ARTICLE
II

The Credits

Section 2.01       
Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make revolving credit loans
(“Revolving Loans”) to any Borrower from time to time during the Availability Period in an aggregate principal
amount that, when added to such Lender’s Applicable Percentage of the aggregate principal amount of the Swingline Loans then
outstanding, will not result in (a) such Lender’s Exposure exceeding such Lender’s Commitment or (b) the sum of the
total Exposures exceeding the total Commitments. Within the foregoing limits and subject to the terms and conditions set forth
herein, the Borrowers may borrow, prepay and reborrow Revolving Loans.

Section 2.02       
Revolving Loans and Borrowings.

(a)              
Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans made by the Lenders ratably in accordance
with their respective Commitments. The failure of any Lender to make any Revolving Loan required to be made by it shall not relieve
any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall
be responsible for any other Lender’s failure to make Revolving Loans as required.

(b)              
Subject to Section 2.13, each Borrowing of Revolving Loans shall be comprised entirely of ABR Loans or Eurodollar
Loans as the Administrative Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Loan
by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such
option shall not affect the obligation of the Borrowers to repay such Loan in accordance with the terms of this Agreement.

(c)              
At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount
that is an integral multiple of $1,000,000 and not less than $5,000,000. At the time that each ABR Borrowing is made, such Borrowing
shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided that an
ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance

    	 

    	 

    

of the total Commitments. Borrowings
of more than one Type may be outstanding at the same time; provided that there shall not at any time be more than a total
of ten (10) Eurodollar Borrowings outstanding.

(d)              
Notwithstanding any other provision of this Agreement, the Borrowers shall not be entitled to request, or to elect to convert
or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Termination Date.

Section 2.03       
Requests for Borrowings of Revolving Loans. To request a Borrowing of Revolving Loans, the Administrative Borrower
shall notify the Administrative Agent of such request by telephone prior to 11:00 a.m., New York City time (a) three Business Days
before the date of the proposed Borrowing of Revolving Loans in the case of a Eurodollar Borrowing or (b) one Business Day
before the date of the proposed Borrowing of Revolving Loans in the case of an ABR Borrowing. Each such telephonic Borrowing Request
shall be irrevocable and shall be confirmed promptly by hand delivery or facsimile to the Administrative Agent of a written Borrowing
Request signed by the Administrative Borrower’s treasurer or chief financial officer, in the form of Exhibit B attached
hereto or such other form as may be approved by the Administrative Agent, which Borrowing Request shall be signed by the Administrative
Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section
2.02:

(i)                
the aggregate amount of the requested Borrowing of Revolving Loans;

(ii)             
the date of such Borrowing of Revolving Loans, which shall be a Business Day;

(iii)           
whether such Borrowing of Revolving Loans is to be an ABR Borrowing or a Eurodollar Borrowing;

(iv)            
in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated
by the definition of the term “Interest Period”; and

(v)              
the location and number of the relevant Borrower’s account to which funds are to be disbursed, which shall comply
with the requirements of Section 2.04.

If no election as to the Type of Borrowing
of Revolving Loans is specified, then the requested Borrowing of Revolving Loans shall be an ABR Borrowing. If no Interest Period
is specified with respect to any requested Eurodollar Borrowing, then the Administrative Borrower shall be deemed to have selected
an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section
2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan
to be made as part of the requested Borrowing of Revolving Loans.

Section 2.04       
Funding of Borrowings of Revolving Loans.

(a)              
Each Lender shall make each Revolving Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately
available funds by 12:00 noon, New York

    	 

    	 

    

City time, to the account of the Administrative
Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Revolving
Loans available to the relevant Borrower by promptly crediting the amounts so received, in like funds, to an account of such Borrower
designated by the Administrative Borrower in the Borrowing Request.

(b)              
Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing of
Revolving Loans that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing
of Revolving Loans, the Administrative Agent may assume that such Lender has made such share available on such date in accordance
with paragraph (a) of this Section 2.04 and may, in reliance upon such assumption, make available to the relevant Borrower
a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing of Revolving Loans
available to the Administrative Agent, then the applicable Lender and the Borrowers severally agree to pay to the Administrative
Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount
is made available to the relevant Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case
of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance
with banking industry rules on interbank compensation or (ii) in the case of the Borrowers, the interest rate then applicable
to such Borrowing of Revolving Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute
such Lender’s Revolving Loan included in such Borrowing of Revolving Loans.

Section 2.05       
Interest Elections.

(a)              
Each Borrowing of Revolving Loans initially shall be of the Type specified in the applicable Borrowing Request and, in the
case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Administrative
Borrower may elect to convert such Borrowing of Revolving Loans to a different Type or to continue such Borrowing of Revolving
Loans and, in the case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section 2.05.
The Administrative Borrower may elect different options with respect to different portions of the affected Borrowing of Revolving
Loans, in which case each such portion shall be allocated ratably among the Lenders holding the Revolving Loans comprising such
Borrowing of Revolving Loans, and the Revolving Loans comprising each such portion shall be considered a separate Borrowing of
Revolving Loans.

(b)              
To make an election pursuant to this Section 2.05, the Administrative Borrower shall notify the Administrative Agent
of such election by telephone by the time that a Borrowing Request would be required under Section 2.03 if the Administrative
Borrower was requesting a Borrowing of Revolving Loans of the Type resulting from such election to be made on the effective date
of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery
or facsimile to the Administrative Agent of a written Interest Election Request in the form of Exhibit C attached hereto
or such other form as may be approved by the Administrative Agent, which Interest Election Request shall be signed by the Administrative
Borrower.

    	 

    	 

    

(c)              
Each telephonic and written Interest Election Request shall specify the following information in compliance with Section
2.02:

(i)                
the Borrowing of Revolving Loans to which such Interest Election Request applies and, if different options are being elected
with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing of Revolving Loans
(in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing
of Revolving Loans);

(ii)             
the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;

(iii)           
whether the resulting Borrowing of Revolving Loans is to be an ABR Borrowing or a Eurodollar Borrowing; and

(iv)            
if the resulting Borrowing of Revolving Loans is a Eurodollar Borrowing, the Interest Period to be applicable thereto after
giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”.

If any such Interest Election Request
requests a Eurodollar Borrowing but does not specify an Interest Period, then the Administrative Borrower shall be deemed to have
selected an Interest Period of one month’s duration.

(d)              
Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details
thereof and of such Lender’s portion of each resulting Borrowing of Revolving Loans.

(e)              
If the Administrative Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Borrowing
prior to the end of the Interest Period applicable thereto, then, unless such Borrowing of Revolving Loans is repaid as provided
herein, at the end of such Interest Period such Borrowing of Revolving Loans shall be continued as a Eurodollar Borrowing with
an Interest Period of one month. Notwithstanding any contrary provision hereof, (a) if an Event of Default has occurred and is
continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Administrative Borrower, then,
so long as an Event of Default is continuing, each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the
Interest Period applicable thereto, and (b) no Revolving Loan may be converted into or continued as a Eurodollar Borrowing after
the date that is one month prior to the Termination Date.

Section 2.06       
Swingline Commitment.

(a)              
Subject to the terms and conditions hereof, the Swingline Lender agrees to make a portion of the credit otherwise available
to any Borrower under the Commitments from time to time during the Availability Period by making swingline loans (“Swingline
Loans”) to such Borrower; provided that (i) the aggregate principal amount of Swingline Loans outstanding at any
time shall not exceed the Swingline Commitment then in effect (notwithstanding that the Swingline Loans outstanding at any time,
when aggregated with the Swingline Lender’s other outstanding Loans, may exceed the Swingline Commitment then in effect)
and (ii) the Administrative Borrower shall not request, and the Swingline Lender shall not make, any

    	 

    	 

    

Swingline Loan if, after giving effect
to the making of such Swingline Loan, the aggregate amount of Loans outstanding would exceed the aggregate amount of the Commitments.
During the Availability Period, the Borrowers may use the Swingline Commitment by borrowing, repaying and reborrowing Swingline
Loans, all in accordance with the terms and conditions hereof. Swingline Loans shall be ABR Loans only.

(b)              
The Borrowers shall repay to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier
of the Termination Date and the date that is 10 days after the date on which such Swingline Loan is made; provided that
on each date that a Revolving Loan is borrowed, the Borrowers shall repay all Swingline Loans then outstanding.

Section 2.07       
Procedure for Swingline Borrowing; Refunding of Swingline Loans.

(a)              
Whenever a Borrower desires that the Swingline Lender make Swingline Loans, the Administrative Borrower shall give the Swingline
Lender irrevocable telephonic notice confirmed promptly in writing (which telephonic notice must be received by the Swingline Lender
not later than 3:00 P.M., New York City time, on the proposed borrowing date), specifying (i) the amount to be borrowed and (ii)
the requested borrowing date (which shall be a Business Day during the Availability Period). Each borrowing under the Swingline
Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof. Not later than 4:00 P.M.,
New York City time, on the borrowing date specified in a notice in respect of Swingline Loans, the Swingline Lender shall make
available to the Administrative Agent at the account of the Administrative Agent most recently designated by it for such purpose
an amount in immediately available funds equal to the amount of the Swingline Loan to be made by the Swingline Lender. The Administrative
Agent shall make the proceeds of such Swingline Loan available to the relevant Borrower on such borrowing date by depositing such
proceeds in the account of such Borrower with the Administrative Agent on such borrowing date in immediately available funds. Immediately
upon the making of a Swingline Loan by the Swingline Lender, and without any further action on the part of such Swingline Lender
or the Lenders, the Swingline Lender hereby grants to each Lender, and each Lender hereby acquires from the Swingline Lender, a
participation in such Swingline Loan equal to such Lender’s Applicable Percentage of the amount of such Swingline Loan.

(b)              
The Swingline Lender, at any time and from time to time in its sole and absolute discretion may, on behalf of the Borrowers
(which hereby irrevocably direct the Swingline Lender to act on its behalf), upon notice (which shall be deemed to be a Borrowing
Request given by the Administrative Borrower and shall be given on a Business Day) given by the Swingline Lender no later than
12:00 Noon, New York City time, request each Lender to make, and each Lender hereby agrees to make, a Revolving Loan (which shall
be made initially as an ABR Loan), in an amount equal to such Lender’s Applicable Percentage (calculated to reflect any adjustment
to the Swingline Exposures of the Lenders by Section 2.20(c), as applicable) of the aggregate amount of the Swingline Loans
(the “Refunded Swingline Loans”) outstanding on the date of such notice, to repay the Swingline Lender. Each
Lender (other than the Swingline Lender) shall make the amount of such Revolving Loan available to the Administrative Agent at
the account of the Administrative Agent most recently designated by it for such purpose in immediately available funds, not later
than 3:00 P.M., New York City time, on the date of such notice. The proceeds of such Revolving Loans shall be immediately made
available by the Administrative Agent to the

    	 

    	 

    

Swingline Lender for application by
the Swingline Lender to the repayment of the Refunded Swingline Loans.

(c)              
If prior to the time a Revolving Loan would have otherwise been made pursuant to Section 2.07(b), one of the events
described in Section 7.01(h) or (i) shall have occurred and be continuing with respect to the Company or if for any
other reason, as determined by the Swingline Lender in its sole discretion, Revolving Loans may not be made as contemplated by
Section 2.07(b), each Lender shall, on the date such Revolving Loan was to have been made pursuant to the notice referred
to in Section 2.07(b), purchase for cash an undivided participating interest in the then outstanding Swingline Loans by
paying to the Swingline Lender an amount (the “Swingline Participation Amount”) equal to (i) such Lender’s
Applicable Percentage times (ii) the sum of the aggregate principal amount of Swingline Loans then outstanding that were
to have been repaid with such Revolving Loans.

(d)              
Whenever, at any time after the Swingline Lender has received from any Lender such Lender’s Swingline Participation
Amount, the Swingline Lender receives any payment on account of the Swingline Loans, the Swingline Lender will distribute to such
Lender its Swingline Participation Amount (appropriately adjusted, in the case of interest payments, to reflect the period of time
during which such Lender’s participating interest was outstanding and funded and, in the case of principal and interest payments,
to reflect such Lender’s pro rata portion of such payment if such payment is not sufficient to pay the principal of
and interest on all Swingline Loans then due); provided, however, that in the event that such payment received by
the Swingline Lender is required to be returned, such Lender will return to the Swingline Lender any portion thereof previously
distributed to it by the Swingline Lender.

(e)              
Each Lender’s obligation to make the Loans referred to in Section 2.07(b) and to purchase participating interests
pursuant to Section 2.07(c) shall be absolute and unconditional and shall not be affected by any circumstance, including
(i) any setoff, counterclaim, recoupment, defense or other right that such Lender or the Borrowers may have against the Swingline
Lender, the Borrowers or any other Person for any reason whatsoever, (ii) the occurrence or continuance of a Default or an
Event of Default or the failure to satisfy any of the other conditions specified in Article IV, (iii) any adverse change
in the condition (financial or otherwise) of a Borrower, (iv) any breach of this Agreement by a Borrower, the Guarantor or
any other Lender or (v) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

Section 2.08       
Termination and Reduction of Commitments.

(a)              
Unless previously terminated, the Commitments shall terminate on the Termination Date.

(b)              
The Administrative Borrower may at any time terminate, or from time to time reduce, the Commitments; provided that
(i) each reduction of the Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000
and (ii) the Administrative Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment
of the Loans in accordance with Section 2.10, the sum of the Exposures would exceed the total Commitments.

    	 

    	 

    

(c)              
The Administrative Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments
under paragraph (b) of this Section 2.08 at least three Business Days prior to the effective date of such termination or
reduction, specifying such election and the effective date thereof. Promptly following receipt of any such notice, the Administrative
Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Administrative Borrower pursuant to this Section
2.08 shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Administrative
Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice
may be revoked by the Administrative Borrower (by notice to the Administrative Agent on or prior to the specified effective date)
if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments
shall be made ratably among the Lenders in accordance with their respective Commitments.

Section 2.09       
Repayment of Loans; Evidence of Debt.

(a)              
The Borrowers hereby, jointly and severally, unconditionally promise to pay to the Administrative Agent for the account
of each Lender the then unpaid principal amount of each Loan on the Termination Date (or such earlier date on which the Loans become
due and payable pursuant to Article VII).

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

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

(d)              
The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section 2.09 shall be prima
facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender
or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the
Borrowers to repay the Loans in accordance with the terms of this Agreement.

(e)              
Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers shall prepare,
execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such
Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such
promissory note and interest thereon shall at all times (including after assignment pursuant to Section 10.04) be represented
by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a
registered note, to such payee and its registered assigns).

Section 2.10       

    	 

    	 

    

Prepayment of Loans.

(a)              
The Borrowers shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject
to prior notice in accordance with paragraph (b) of this Section 2.10.

(b)              
The Administrative Borrower shall notify the Administrative Agent by telephone (confirmed by facsimile) of any prepayment
hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business
Days before the date of prepayment, or (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York
City time, one Business Day before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment
date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment
is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.08(c), then
such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.08(c). Promptly
following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise the Lenders of the contents
thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a
Borrowing of the same Type as provided in Section 2.02. Each prepayment of a Borrowing shall be applied ratably to the Loans
included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.12.

Section 2.11       
Fees.

(a)              
The Borrowers agree to pay to the Administrative Agent for the account of each Lender a facility fee for the period from
and including the date hereof to the Termination Date, computed at the Facility Fee Rate on the average daily amount of the Commitment
of such Lender during the period for which payment is made, payable quarterly in arrears on the last day of March, June, September
and December of each year and on the Termination Date, commencing on the first such date to occur after the date hereof. All facility
fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day).

(b)              
The Borrowers agree to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times
separately agreed upon between the Borrowers and the Administrative Agent.

(c)              
All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent for
distribution, in the case of facility fees, to the Lenders. Fees paid shall not be refundable under any circumstances.

Section 2.12       
Interest.

(a)              
The Loans comprising each ABR Borrowing shall bear interest at a rate per annum equal to the Alternate Base Rate plus
the Applicable Margin.

    	 

    	 

    

(b)              
The Loans comprising each Eurodollar Borrowing shall bear interest at a rate per annum equal to the Adjusted LIBO Rate for
the Interest Period in effect for such Borrowing plus the Applicable Margin.

(c)              
Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by the Borrowers
hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest,
after as well as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus
the rate otherwise applicable to such Loan as provided above or (ii) in the case of any other amount, 2% plus the rate applicable
to ABR Loans as provided above.

(d)              
Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan; provided that
(i) interest accrued pursuant to paragraph (c) of this Section 2.12 shall be payable on demand, (ii) in the event of any
repayment or prepayment of any Loan (other than a prepayment of an ABR Loan prior to the end of the Availability Period), accrued
interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, (iii) in the event
of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan
shall be payable on the effective date of such conversion and (iv) all accrued interest shall be payable upon termination of the
Commitments.

(e)              
All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference
to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a
year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including
the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined
by the Administrative Agent, and such determination shall be presumptively correct.

Section 2.13       
Alternative Rate of Interest.

(a)              
Notwithstanding any other provision of this Agreement, if (i) the Administrative Agent shall reasonably determine that,
by reason of circumstances affecting the relevant market, reasonable and adequate means do not exist for ascertaining the LIBO
Rate for such Interest Period, or (ii) the Required Lenders shall reasonably determine that the LIBO Rate does not adequately and
fairly reflect the cost to such Lenders of funding Loans that the Borrowers have requested be outstanding during such Interest
Period, the Administrative Agent shall forthwith give telephone notice of such determination, confirmed in writing, to the Borrowers,
and the Lenders at least two (2) Business Days prior to the first day of such Interest Period. Unless a Borrower shall have notified
the Administrative Agent upon receipt of such telephone notice that it wishes to rescind or modify its request regarding such Eurodollar
Loans, any Loans that were requested to be made as Eurodollar Loans shall be made as ABR Loans and any Loans that were requested
to be converted into or continued as Eurodollar Loans shall remain as or be converted into ABR Loans. Until any such notice has
been withdrawn by the Administrative Agent, no further Loans shall be made as, continued as, or converted into, Eurodollar Loans
for the Interest Periods so affected.

    	 

    	 

    

(b)              
Notwithstanding anything to the contrary in this Agreement or any agreement or instrument contemplated hereby, if the Administrative
Agent determines (which determination shall be conclusive absent manifest error), or the Borrowers or Required Lenders notify the
Administrative Agent (with, in the case of the Required Lenders, a copy to the Borrowers) that the Borrowers or Required Lenders
(as applicable) have determined, that:

(i)                
the circumstances set forth in Section 2.13(a) have occurred and such circumstances are unlikely to be temporary;
or

(ii)             
the administrator of the LIBO Rate or a Governmental Authority having jurisdiction over the Administrative Agent has made
a public statement identifying a specific date after which the LIBO Rate shall no longer be made available, or used for determining
the interest rate of loans (such specific date, the “Scheduled Unavailability Date”), or

(iii)           
syndicated loans currently being executed, or that include language similar to that contained in this Section, are being
executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace LIBO Rate,

then, reasonably promptly after such determination by the Administrative
Agent or receipt by the Administrative Agent of such notice, as applicable, the Administrative Agent and such Borrower shall negotiate
in good faith to amend this Agreement to replace LIBO Rate with an alternate benchmark rate (including any mathematical or other
adjustments to the benchmark (if any) incorporated therein) (any such proposed rate, a “LIBO Rate Successor Rate”),
together with any proposed LIBO Rate Successor Rate Conforming Changes (as defined below) and any such amendment shall become effective
at 5:00 p.m. on the fifth Business Day after the Administrative Agent shall have posted such proposed amendment to all Lenders
and the Borrowers unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent
written notice that such Required Lenders do not accept such amendment. Such LIBO Rate Successor Rate shall be applied in a manner
consistent with market practice; provided that to the extent such market practice is not administratively feasible for the
Administrative Agent, such LIBO Rate Successor Rate shall be applied in a manner as otherwise reasonably determined by the Administrative
Agent.

 

If no LIBO Rate Successor Rate has been determined
and the circumstances under clause (i) above exist or the Scheduled Unavailability Date has occurred (as applicable), the Administrative
Agent will promptly so notify each Borrower and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain
Eurodollar Loans shall be suspended (to the extent of the affected Eurodollar Loans or Interest Periods only), and (y) the LIBO
Rate component shall no longer be utilized in determining the Alternate Base Rate. Upon receipt of such notice, any Borrower may
revoke any pending request for a Borrowing of, conversion to, or continuation of Eurodollar Loans (to the extent of the affected
Eurodollar Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a Committed
borrowing of ABR Loans (subject to the foregoing clause (y)) in the amount specified therein.

 

    	 

    	 

    

Notwithstanding anything else herein, any definition
of LIBO Rate Successor Rate shall provide that in no event shall such LIBO Rate Successor Rate be less than 0% for purposes of
this Agreement.

 

For purposes hereof,
“LIBO Rate Successor Rate Conforming Changes” means, with respect to any proposed LIBO Rate Successor Rate, any conforming
changes to the definition of Alternate Base Rate, Interest Period, timing and frequency of determining rates and making payments
of interest and other administrative matters as may be appropriate, determined by the Administrative Agent with the consent of
the Borrowers, to reflect the adoption of such LIBO Rate Successor Rate and to permit the administration thereof by the Administrative
Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any
portion of such market practice is not administratively feasible or that no market practice for the administration of such LIBO
Rate Successor Rate exists, in such other manner of administration as the Administrative Agent determines is reasonably necessary
in connection with the administration of this Agreement).

Section 2.14       
Increased Costs.

(a)              
If any Change in Law shall:

(i)                
impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement
against assets held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit (or
participations therein) by, or any other acquisition of funds by, any Lender (except any such reserve requirement reflected in
the Adjusted LIBO Rate); or

(ii)             
subject the Administrative Agent or any Lender to any Tax (other than (A) Indemnified Taxes that are subject to Section
2.16, (B) Other Taxes or (C) Excluded Taxes) on its loans, loan principal, letters of credit, commitments or other
obligations, or its deposits, reserves other liabilities or capital attributable thereto; or

(iii)           
impose on any Lender or the London interbank market any other condition (other than Taxes) affecting this Agreement or Eurodollar
Loans made by such Lender;

and the result of any of the foregoing
shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan or of maintaining its obligation to make
any such Loan (or in the case of (ii), any Loan) or to increase the cost to such Lender or the Administrative Agent or to reduce
the amount of any sum received or receivable by such Lender or the Administrative Agent hereunder (whether of principal, interest
or otherwise), then the Borrowers will pay to such Lender or the Administrative Agent such additional amount or amounts as will
compensate such Lender or the Administrative Agent for such additional costs incurred or reduction suffered.

(b)              
If any Lender determines that any Change in Law regarding capital or liquidity requirements has or would have the effect
of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any,
as a consequence of this Agreement or the Loans made hereunder, to a level below that which such Lender or such Lender’s
holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the
policies of such Lender’s holding company with respect to capital

    	 

    	 

    

adequacy), then from time to time the
Borrowers will pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding
company for any such reduction suffered.

(c)              
A certificate of a Lender setting forth the amount or amounts, together with a full explanation of the increased costs,
the Change in Law giving rise thereto and the calculation of such amount or amounts necessary to compensate such Lender or its
holding company, as the case may be, as specified in paragraph (a) or (b) of this Section 2.14 and further stating that
such Lender is requiring corresponding payments from other similarly situated borrowers generally, shall be delivered to the Administrative
Borrower and shall be presumptively correct. The Borrowers shall pay such Lender the amount so due on any such certificate within
10 Business Days after receipt thereof and a full description and calculation of such amount or amounts.

(d)              
Failure or delay on the part of any Lender to demand compensation pursuant to this Section 2.14 shall not constitute
a waiver of such Lender’s right to demand such compensation; provided that the Borrowers shall not be required to
compensate a Lender pursuant to this Section 2.14 for any increased costs or reductions incurred more than six months prior
to the date that such Lender notifies the Administrative Borrower of the Change in Law giving rise to such increased costs or reductions
and of such Lender’s intention to claim compensation therefor; provided further that, if the Change in Law giving
rise to such increased costs or reductions is retroactive, then the six-month period referred to above shall be extended to include
the period of retroactive effect thereof.

Section 2.15       
Break Funding Payments. In the event of (a) the payment of any principal of any Eurodollar Loan other than on the
last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar
Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay
any Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice is permitted to be revocable
under Section 2.10(b) and is revoked in accordance herewith) or (d) the assignment of any Eurodollar Loan other than on
the last day of the Interest Period applicable thereto as a result of a request by the Administrative Borrower pursuant to Section
2.18, then, in any such event, the Borrowers shall compensate each Lender for the loss, cost and expense attributable to such
event; provided that any such event is not attributable to the failure of any Lender to fund a Loan. In the case of a Eurodollar
Loan, the loss to any Lender attributable to any such event shall be deemed to include an amount determined by such Lender to be
equal to the excess, if any, of (i) the amount of interest that such Lender would pay for a deposit equal to the principal amount
of such Loan for the period from the date of such payment, conversion, failure or assignment to the last day of the then current
Interest Period for such Loan (or, in the case of a failure to borrow, convert or continue, the duration of the Interest Period
that would have resulted from such borrowing, conversion or continuation) if the interest rate payable on such deposit were equal
to the Adjusted LIBO Rate (in the case of a Eurodollar Loan) for such Interest Period, over (ii) the amount of interest that such
Lender would earn on such principal amount for such period if such Lender were to invest such principal amount for such period
at the interest rate that would be bid by such Lender (or an affiliate of such Lender) for dollar deposits from other banks in
the eurodollar market at the commencement of such period. A certificate of any Lender setting forth any amount or amounts, together
with a full explanation of the losses, costs, and expenses incurred, the events giving rise thereto and the calculation of such
amount or amounts that such Lender is

    	 

    	 

    

entitled to receive pursuant to this
Section 2.15, shall be delivered to the Administrative Borrower and shall be presumptively correct. The Borrowers shall
pay such Lender the amount so due on any such certificate within 10 Business Days after receipt thereof.

Section 2.16       
Taxes.

(a)              
Any and all payments by or on account of any obligation of the Borrowers hereunder shall be made free and clear of and without
deduction or withholding for any Indemnified Taxes or Other Taxes; provided that if the applicable withholding agent shall
be required to deduct or withhold any Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable shall be increased
as necessary so that after making all required deductions and withholdings (including deductions or withholdings applicable to
additional sums payable under this Section 2.16) the Administrative Agent or Lender (as the case may be) receives an amount
equal to the sum it would have received had no such deductions or withholdings been made, (ii) the applicable withholding agent
shall make such deductions or withholdings and (iii) the applicable withholding agent shall pay the full amount deducted or withheld
to the relevant Governmental Authority in accordance with applicable law.

(b)              
In addition, the Borrowers shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable
law.

(c)              
The Borrowers shall indemnify the Administrative Agent and each Lender within 10 Business Days after written demand therefor
for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on
or attributable to amounts payable under this Section 2.16) paid by the Administrative Agent or such Lender, as the case
may be, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified
Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to
the amount of such payment or liability delivered to the Administrative Borrower by a Lender or by the Administrative Agent on
its own behalf or on behalf of a Lender shall be presumptively correct. To the extent the Administrative Agent or any Lender receives
a refund or credit on account of any Indemnified Tax or Other Tax reimbursed by the Borrowers or as a result of contesting any
Indemnified Tax or Other Tax pursuant to this Section 2.16, the Administrative Agent or such Lender, as the case may be,
shall promptly pay over the amount of such refund or credit (net of all reasonable out-of-pocket expenses, including any Taxes)
to the Administrative Borrower; provided, that the Borrowers agree to repay to the Administrative Agent or such Lender the
amount of any such refund or credit paid over to the Administrative Borrower in the event that such Administrative Agent or such
Lender is required to repay such refund or credit to the relevant Governmental Authority.

(d)              
As soon as practicable after any payment of Indemnified Taxes or Other Taxes by any Borrower to a Governmental Authority,
the Administrative Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such
Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably
satisfactory to the Administrative Agent.

    	 

    	 

    

(e)              
Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for (i) any Taxes
attributable to such Lender (but only to the extent that the Borrowers or the Guarantor have not already indemnified the Administrative
Agent for such Taxes and without limiting the obligation of the Borrowers or the Guarantor to do so) and (ii) any Taxes attributable
to such Lender ‘s failure to comply with the provisions of Section 10.04(e) relating to the maintenance of a Participant
Register, in either case, that are payable or paid by the Administrative Agent in connection with the Transactions, and any reasonable
expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by
the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the
Administrative Agent shall be presumptively correct. Each Lender hereby authorizes the Administrative Agent to set off and apply
any and all amounts at any time owing to such Lender in connection with the Transactions or otherwise payable by the Administrative
Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (e).

(f)               
(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made
hereunder shall deliver to the Administrative Borrower and the Administrative Agent, at the time or times reasonably requested
by the Administrative Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested
by the Administrative Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a
reduced rate of withholding. In addition, any Lender, if reasonably requested by the Administrative Borrower or the Administrative
Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Administrative Borrower
or the Administrative Agent as will enable the Administrative Borrower or the Administrative Agent to determine whether or not
such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in
the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set
forth in Section 2.16(f)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s
reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense
or would materially prejudice the legal or commercial position of such Lender.

(ii)             
Without limiting the generality of the foregoing:

(A)            
any Lender that is a U.S. Person shall deliver to the Administrative Borrower and the Administrative Agent on or prior to
the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request
of the Administrative Borrower or the Administrative Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt
from U.S. federal backup withholding Tax;

(B)             
any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Administrative Borrower and the
Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign
Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Administrative
Borrower or the Administrative Agent), whichever of the following is applicable:

    	 

    	 

    

i                     
in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with
respect to payments of interest hereunder, executed copies of IRS Form W-8BEN or any successor thereto, including IRS Form W-8BEN-E,
establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of
such Tax treaty and (y) with respect to any other applicable payments in connection with the Transactions, executed copies
of IRS Form W-8BEN or any successor thereto, including IRS Form W-8BEN-E, establishing an exemption from, or reduction of, U.S.
federal withholding Tax pursuant to the “business profits” or “other income” article of such Tax treaty;

ii                   
executed copies of IRS Form W-8ECI;

iii                 
in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the
Code, (x) a certificate substantially in the form of Exhibit E-1 to the effect that such Foreign Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Company within the meaning
of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the
Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or any successor thereto,
including IRS Form W-8BEN-E; or

iv                 
to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form
W-8ECI, IRS Form W-8BEN or any successor thereto, including IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially
in the form of Exhibit E-2 or Exhibit E-3, IRS Form W-9, and/or other certification documents from each beneficial
owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such
Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate
substantially in the form of Exhibit E-4 on behalf of each such direct and indirect partner;

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

    	 

    	 

    

(D)            
if a payment made to a Lender hereunder would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b)
of the Code, as applicable), such Lender shall deliver to the Administrative Borrower and the Administrative Agent at the time
or times prescribed by law and at such time or times reasonably requested by the Administrative Borrower or the Administrative
Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such
additional documentation reasonably requested by the Administrative Borrower or the Administrative Agent as may be necessary for
the Administrative Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such
Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such
payment. Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date
of this Agreement.

(iii)           
Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in
any respect, it shall update such form or certification or promptly notify the Administrative Borrower and the Administrative Agent
in writing of its legal inability to do so.

Section 2.17       
Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

(a)              
The Borrowers shall make each payment required to be made by them hereunder (whether of principal, interest, fees, or under
Section 2.14, 2.15 or 2.16, or otherwise) prior to 12:00 noon, New York City time, on the date when due, in
immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion
of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest
thereon. All such payments shall be made to the Administrative Agent at the address set forth in Section 10.01, except that
payments pursuant to Sections 2.14, 2.15, 2.16 and 10.03 shall be made directly to the Persons entitled
thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the
appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business
Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest,
interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in dollars.

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

(c)              
If any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal
of or interest on any of its Loans or other obligations hereunder resulting in such Lender receiving payment of a proportion of
the aggregate amount of

    	 

    	 

    

its Loans and accrued interest thereon
or other such obligations greater than the proportion received by any other Lender, then the Lender receiving such greater proportion
shall (x) notify the Administrative Agent of such fact and (y) purchase (for cash at face value) participations in the
Loans and such other obligations of other Lenders, or make such other adjustments as shall be equitable, to the extent necessary
so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal
of and accrued interest on their respective Loans and other amounts owing them; provided that (i) if any such participations
are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and
the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not
be construed to apply to any payment made by the Borrowers pursuant to and in accordance with the express terms of this Agreement
or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any
assignee or participant, other than to the Company or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph
shall apply). The Borrowers consent to the foregoing and agree, to the extent they may effectively do so under applicable law,
that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrowers rights of set-off
and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of a Borrower in the amount
of such participation.

(d)              
Unless the Administrative Agent shall have received notice from the Administrative Borrower prior to the date on which any
payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrowers will not make such payment,
the Administrative Agent may assume that the Borrowers have made such payment on such date in accordance herewith and may, in reliance
upon such assumption, distribute to the Lenders the amount due. In such event, if the Borrowers have not in fact made such payment,
then each of the Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to
such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the
date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative
Agent in accordance with banking industry rules on interbank compensation.

(e)              
If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.04(b) or 2.17(d),
then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter
received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections
until all such unsatisfied obligations are fully paid.

Section 2.18       
Mitigation Obligations; Replacement of Lenders.

(a)              
If any Lender requests compensation under Section 2.14, or if the Borrowers are required to pay any additional amount
to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.16, then such Lender shall
use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights
and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation
or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.14 or 2.16, as the case may be,
in the future and (ii) would not subject such

    	 

    	 

    

Lender to any unreimbursed cost or expense
and would not otherwise be disadvantageous to such Lender. The Borrowers hereby agree to pay all reasonable costs and expenses
incurred by any Lender in connection with any such designation or assignment.

(b)              
If any Lender requests compensation under Section 2.14, or if the Borrowers are required to pay any additional amount
to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.16, or if any Lender is
a Defaulting Lender, or if any Lender does not consent to any proposed amendment, supplement, modification, consent or waiver of
any provision of this Agreement that requires the consent of each of the Lenders or each of the Lenders affected thereby (so long
as the consent of the Required Lenders has been obtained), then the Administrative Borrower may, at its sole expense and effort,
upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance
with and subject to the restrictions contained in Section 10.04), all its interests, rights and obligations under this Agreement
to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment);
provided that (i) the Administrative Borrower shall have received the prior written consent of the Administrative Agent,
which consent shall not unreasonably be withheld, conditioned or delayed, (ii) such Lender shall have received payment of
an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable
to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrowers
(in the case of all other amounts), (iii) in the case of any such assignment resulting from a claim for compensation under
Section 2.14 or payments required to be made pursuant to Section 2.16, such assignment will result in a reduction
in such compensation or payments, (iv) such assignment does not conflict with applicable law and (v) in the case of any
such assignment resulting from a failure to consent to any amendment supplement, modification, consent or waiver, the assignee
shall have consented to such amendment, supplement, modification, consent or waiver. A Lender shall not be required to make any
such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling
the Administrative Borrower to require such assignment and delegation cease to apply.

Section 2.19       
New Lenders; Commitment Increases.

(a)              
With the consent of the Administrative Borrower and the Administrative Agent (which, in the case of the Administrative Agent,
shall not be unreasonably withheld), (i) one or more additional banks or other financial institutions or other institutional investors
may become a party to this Agreement by executing a supplement hereto, in form and substance satisfactory to such bank, financial
institution or institutional investor, the Administrative Borrower and the Administrative Agent, whereupon such bank, financial
institution or institutional investor (a “New Lender”) shall become a Lender for all purposes hereof and to
the same extent as if originally a party hereto and shall be bound by and entitled to the benefits of this Agreement, and Schedule
2.01 hereto shall be deemed to be amended to add the name, address and Commitment of such New Lender and (ii) any Lender
may increase the amount of its Commitment by executing a supplement hereto, in form and substance satisfactory to such Lender,
the Administrative Borrower and the Administrative Agent, whereupon such Lender shall be bound by and entitled to the benefits
of this Agreement with respect to the full amount of its Commitment as so increased, and Schedule 2.01 hereto shall be deemed
to be amended to reflect such increase in the

    	 

    	 

    

Commitment of such Lender. In no event
may the aggregate Commitments be increased above $400,000,000 pursuant to any supplement described in this Section 2.19(a).

(b)              
If on the date upon which a bank or other financial institution or institutional investor becomes a New Lender or upon which
a Lender’s Commitment is changed pursuant to Section 2.19(a), any Loans are then outstanding, the Administrative Agent
will consult with the Administrative Borrower with the objective of minimizing the costs to the Administrative Borrower, and may
(A) require that the Borrowers prepay and reborrow any outstanding Loans in connection therewith if it determines such action
to be desirable to facilitate administration under this Agreement in such amount and with such Interest Period such that, after
giving effect thereto, the quotient of (x) the Loan of such Lender of each Type and, in the case of Eurodollar Loans, with
each Interest Period and (y) such Lender’s Commitment is equal to the corresponding comparable quotient of each other
Lender and (B) with the consent of such Lender permit the Administrative Borrower to select an initial Interest Period with
respect to the initial Loans made by such Lender having a duration other than one, two, three, or six months (such that such Interest
Period would be coterminous with an Interest Period then applicable to an existing Eurodollar Borrowing) if the Administrative
Agent determines such action to be desirable to facilitate administration of the Loans under this Agreement. Any Eurodollar Borrowing
borrowed pursuant to the preceding sentence shall bear interest at a rate equal to the respective interest rates then applicable
to the Eurodollar Loans of the other Lenders.

Section 2.20       
Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting
Lender hereunder, then the following provisions shall apply for so long as such Defaulting Lender is a Defaulting Lender:

(a)              
the Defaulting Lender shall not be entitled to receive fees payable under Section 2.11(a) for any period during which that
Lender is a Defaulting Lender unless and only to the extent allocable to the sum of the outstanding principal amount of the Loans
funded by it;

(b)              
the Commitment and Exposure of such Defaulting Lender shall be disregarded for purposes of any determination of whether
the Required Lenders have taken or may take any action hereunder (including any consent to any amendment or waiver pursuant to
Section 10.02), provided that this clause (b) shall not apply in the case of any waiver, amendment or modification
described in the first proviso of Section 10.02(b) requiring the consent of all Lenders or each Lender affected thereby;

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

(i)                
all or any part of such Swingline Exposure shall be reallocated among the non-Defaulting Lenders pro rata in accordance
with their respective Applicable Percentages but only to the extent that the amount of any non-Defaulting Lender’s Exposure
plus such non-Defaulting Lender’s pro rata share of such Defaulting Lender’s Swingline Exposure does not exceed the
Commitment of such non-Defaulting Lender; and

    	 

    	 

    

(ii)             
if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrowers shall within
one Business Day following notice by the Administrative Agent, prepay such Swingline Exposure;

(d)              
so long as such Lender is a Defaulting Lender, the Swingline Lender shall not be required to fund any Swingline Loan unless
it is satisfied that the related exposure will be 100% covered by the Commitments of the non-Defaulting Lenders and/or cash collateral
will be provided by the Borrowers, and participating interests in any newly made Swingline Loan shall be allocated among non-Defaulting
Lenders in a manner consistent with Section 2.20(c)(i) (and such Defaulting Lender shall not participate therein).

If (i) a Bankruptcy
Event with respect to a Parent of any Lender shall occur following the date hereof and for so long as such event shall continue
or (ii) the Swingline Lender has a good faith belief that any Lender has defaulted in fulfilling its obligations under one or more
other agreements in which such Lender commits to extend credit, the Swingline Lender shall not be required to fund any Swingline
Loan, unless the Swingline Lender shall have entered into arrangements with the Administrative Borrower or such Lender, satisfactory
to the Swingline Lender to defease any risk to it in respect of such Lender hereunder.

In the event that
the Administrative Agent, the Administrative Borrower and the Swingline Lender each agrees in writing that a Defaulting Lender
has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Swingline Exposure of the Lenders
shall be readjusted to reflect the inclusion of such Lender’s Commitment and on the date of such written agreement Lender
shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the Administrative Agent shall determine
may be necessary in order for such Lender to hold such Loans in accordance with its Applicable Percentage .

Section 2.21       
[Reserved].

Section 2.22       
Administrative Borrower. Each Borrower hereby irrevocably appoints the Company as the borrowing agent and attorney-in-fact
for all Borrowers (in such capacities, the “Administrative Borrower”) which appointment shall remain in full
force and effect unless and until the Administrative Agent shall have received prior written notice signed by each Borrower that
such appointment has been revoked and that another Borrower has been appointed Administrative Borrower. Each Borrower hereby irrevocably
appoints and authorizes the Administrative Borrower to (i) provide and receive all notices and instructions under this Agreement,
(ii) take such action on its behalf as the Administrative Borrower deems appropriate to obtain Loans and to exercise such
other powers as are reasonably incidental thereto to carry out the purposes of this Agreement and (iii) receive and distribute
accordingly the proceeds from the Loans. Each Borrower hereby jointly and severally agrees to indemnify each Lender and the Administrative
Agent and hold each Lender and the Administrative Agent harmless against any and all liability, expense, loss or claim of damage
or injury, made against the Lenders and the Administrative Agent by any Borrower or by any third party arising from or incurred
by reason of any Lender’s or the Administrative Agent’s relying on any instructions of the Administrative Borrower;
provided that such indemnity shall not be available to the extent that any such liability, expense, loss or claim of damage
or injury is determined by a court of competent jurisdiction by a

    	 

    	 

    

final and nonappealable judgment to
have resulted from the gross negligence or willful misconduct of the Administrative Agent or any such Lender, as the case may be.

Section 2.23       
Illegality. If any Lender determines that any law has made it unlawful, or that any Governmental Authority has asserted
that it is unlawful, for any Lender or its applicable lending office to make, maintain or fund Loans whose interest is determined
by reference to the LIBO Rate, or to determine or charge interest rates based upon the LIBO Rate, or any Governmental Authority
has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London
interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (i) any obligation of
such Lender to make or continue Eurodollar Loans or to convert ABR Loans to Eurodollar Loans shall be suspended, and (ii) if such
notice asserts the illegality of such Lender making or maintaining ABR Loans the interest rate on which is determined by reference
to the LIBO Rate component of the Alternate Base Rate, the interest rate on which ABR Loans of such Lender shall, if necessary
to avoid such illegality, be determined by the Administrative Agent without reference to the LIBO Rate component of the Alternate
Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise
to such determination no longer exist. Upon receipt of such notice, (x) the Borrower shall, upon demand from such Lender (with
a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Loans of such Lender to ABR Loans (the interest
rate on which ABR Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent
without reference to the LIBO Rate component of the Alternate Base Rate), either on the last day of the Interest Period therefor,
if such Lender may lawfully continue to maintain such Eurodollar Loans to such day, or immediately, if such Lender may not lawfully
continue to maintain such Eurodollar Loans and (y) if such notice asserts the illegality of such Lender determining or charging
interest rates based upon the LIBO Rate, the Administrative Agent shall during the period of such suspension compute the Alternate
Base Rate applicable to such Lender without reference to the LIBO Rate component thereof until the Administrative Agent is advised
in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the LIBO
Rate. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.

ARTICLE
III

Representations and Warranties

Each of the Company
and the Guarantor (as to itself) represents and warrants to the Lenders that:

Section 3.01       
Organization; Powers. Each of the Company and its Subsidiaries is duly organized, validly existing and in good standing
under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted
and, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required.

Section 3.02       

    	 

    	 

    

Authorization; Enforceability.
The Transactions are within the powers of the Borrowers and the Guarantor and have been duly authorized by all necessary actions
by the directors or trustees thereof. This Agreement has been duly executed and delivered by each of the Borrowers and the Guarantor,
as the case may be, and constitutes a legal, valid and binding obligation of the Borrowers and the Guarantor, enforceable in accordance
with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’
rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at
law.

Section 3.03       
Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration
or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made or will have been
obtained or made by the Closing Date and are in full force and effect, (b) will not violate in any material respect any applicable
law or regulation, (c) will not violate the charter, by-laws or other organizational documents of the Company or any of its
Subsidiaries or any order of any Governmental Authority, (d) will not violate or result in a default under any material indenture,
agreement or other instrument binding upon the Company or any of its Subsidiaries or its assets, or give rise to a right thereunder
to require any payment to be made by the Company or any of its Subsidiaries, and (e) will not result in the creation or imposition
of any material Lien on any asset of the Company or any of its Subsidiaries.

Section 3.04       
Financial Condition; No Material Adverse Effect.

(a)              
The Company has heretofore furnished to the Lenders its consolidated balance sheet and statements of income, beneficial
interests and cash flows (i) as of and for the fiscal years ended 2015, 2016 and 2017, reported on by Deloitte & Touche
LLP, independent public accountants, and (ii) as of and for the fiscal quarters and the portion of the fiscal year ended January 31,
2018, April 30, 2018, and July 31, 2018, certified by its principal accounting officer. Such financial statements present
fairly, in all material respects, the financial position and results of operations and cash flows of the Company and its consolidated
Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence
of footnotes in the case of the statements referred to in clause (ii) above. The Company and its Subsidiaries do not have any material
Guarantees, contingent liabilities and liabilities for taxes, or any long-term leases or unusual forward or long-term commitments,
including any interest rate or foreign currency swap or exchange transaction or other obligation in respect of derivatives, that
are not reflected in the most recent financial statements referred to in this paragraph.

(b)              
Since October 31, 2017, there has been no event, development or circumstance that has had or could reasonably be expected
to have a Material Adverse Effect.

Section 3.05       
Properties.

(a)              
Each of the Company and its Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property
material to its business, except for any defects in title that do not interfere with its ability to conduct business as now conducted
or to use such properties

    	 

    	 

    

for their intended purposes and none
of such property is subject to any Lien except as permitted by Section 6.03.

(b)              
Each of the Company and its Subsidiaries owns, or is licensed to use, all material trademarks, tradenames, copyrights, patents
and other intellectual property necessary for the conduct of their respective businesses as now conducted, subject to such limitations
on the use thereof, or the rights to use same, that, individually or in the aggregate, could not reasonably be expected to result
in a Material Adverse Effect.

Section 3.06       
Litigation and Environmental Matters.

(a)              
Except for the Disclosed Matters, there are no actions, suits or proceedings, or, to the knowledge of any Borrower, investigations,
by or before any arbitrator or Governmental Authority pending against or, to the knowledge of any Borrower, threatened against
or affecting the Company or any of its Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination
that, if adversely determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse
Effect or (ii) that relate specifically to this Agreement or the Transactions.

(b)              
Except with respect to any matters that, individually or in the aggregate, could not reasonably be expected to result in
a Material Adverse Effect, to each Borrower’s knowledge neither the Company nor any of its Subsidiaries (i) has failed
to comply in any material respect with any Environmental Law or to obtain, maintain or comply with any material permit, license
or other approval required under any Environmental Law, (ii) has become subject to any material Environmental Liability, (iii) has
received notice of any claim with respect to any material Environmental Liability or (iv) knows of any basis for any material
Environmental Liability.

(c)              
Since the Closing Date, there has been no change in the status of the Disclosed Matters that, individually or in the aggregate,
has resulted in, or materially increased the likelihood of, a Material Adverse Effect.

Section 3.07       
Compliance with Laws and Agreements. Each of the Company and its Subsidiaries is in compliance with all laws, regulations
and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments
(including any material investment advisory or management agreements) binding upon it or its property, except where the failure
to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

Section 3.08       
Investment Company Status.

(a)              
Neither the Company nor any of its Subsidiaries is an “investment company”, or a borrower “controlled”
by an “investment company”, each as defined in, or subject to regulation under, the Investment Company Act of 1940.
Except for the Persons listed on Schedule 3.08 and other than net capital and other requirements imposed on registered broker-dealers,
neither the Company nor any of its Subsidiaries is subject to any regulation under any Requirement of Law (other than Regulation
X of the Board) that limits its ability to incur Indebtedness.

    	 

    	 

    

(b)              
The Company and each Subsidiary of the Company which is engaged in investment advisory or investment management activities
is, and at all times will be, duly registered as an investment adviser as and to the extent required under the Investment Advisers
Act of 1940, as amended; and each Subsidiary of the Company which is engaged in broker-dealer business is, and at all times will
be, duly registered as a broker-dealer as and to the extent required under the Securities Exchange Act of 1934, as amended, and,
as and to the extent required, is, and at all times will be, a member in good standing of the Financial Industry Regulatory Authority,
Inc.

Section 3.09       
Taxes. Each of the Company and its Subsidiaries has timely filed or caused to be filed all Tax returns and reports
required to have been filed or has requested extensions thereof and has paid or caused to be paid all Taxes required to have been
paid by it, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which the Company or
such Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to do so
could not reasonably be expected to result in a Material Adverse Effect.

Section 3.10       
ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such
ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse
Effect. The present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of
Accounting Standards Codification Topic 715-30) did not, as of the date of the most recent financial statements reflecting such
amounts, exceed by more than $5,000,000 the fair market value of the assets of such Plan, and the present value of all accumulated
benefit obligations of all underfunded Plans (based on the assumptions used for purposes of Accounting Standards Codification Topic
715-30) did not, as of the date of the most recent financial statements reflecting such amounts, exceed by more than $10,000,000
the fair market value of the assets of all such underfunded Plans.

Section 3.11       
Disclosure. The Borrowers have disclosed to the Lenders all agreements, instruments and corporate or other restrictions
to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could
reasonably be expected to result in a Material Adverse Effect. None of the reports, financial statements, certificates or other
information furnished by or on behalf of the Borrowers to the Administrative Agent or any Lender in connection with the negotiation
of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished) contains any material
misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; provided that, with respect to projected financial information, the Borrowers
represent only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time. As
of the Closing Date, to the extent a Beneficial Ownership Certification has been delivered, all of the information included in
such certification is true and correct.

Section 3.12       
No Default. As of the Closing Date, neither the Company nor any of its Subsidiaries is in default under or with respect
to any of its Contractual Obligations in any respect that could reasonably be expected to have a Material Adverse Effect. No Default
or Event of Default has occurred and is continuing.

Section 3.13       

    	 

    	 

    

Subsidiaries. Schedule 3.13
sets forth the name and jurisdiction of incorporation or organization of each Subsidiary and, as to each such Subsidiary, the percentage
of each class of Capital Stock owned directly or indirectly by the Company. As of the Closing Date there are no outstanding subscriptions,
options, warrants, calls, rights or other agreements or commitments (other than between the Company and its Subsidiaries, stock
options or restricted stock granted to employees or directors and directors’ qualifying shares) of any nature relating to
any Capital Stock of the Company or any Subsidiary.

Section 3.14       
Federal Regulations. No part of the proceeds of any Loans will be used for “buying” or “carrying”
any “margin stock” within the respective meanings of each of the quoted terms under Regulation U as now and from time
to time hereafter in effect in any manner that violates the provisions of the Regulations of the Board or for any other purpose
that violates the provisions of the Regulations of the Board (including, in each case, Regulation T). If requested by any Lender
or the Administrative Agent, the Company will furnish to the Administrative Agent and each Lender a statement to the foregoing
effect in conformity with the requirements of FR Form G-3 or FR Form U-1, as applicable, referred to in Regulation U. No more than
25% of the consolidated assets of the Company and its Subsidiaries (excluding treasury shares) consist of “margin stock”
under Regulation U as now and from time to time hereafter in effect.

Section 3.15       
No Burdensome Restrictions. No Requirement of Law or Contractual Obligation of the Company could reasonably be expected
to have a Material Adverse Effect.

Section 3.16       
Anti-Corruption Laws; Sanctions. Neither the Company nor any Subsidiary is in violation, in any material respects,
of any applicable law relating to anti-corruption or anti-money laundering (including the United States Foreign Corrupt Practices
Act of 1977, the UK Bribery Act 2010 or other similar legislation in other jurisdictions) (collectively, “Anti-Corruption
Laws”). (i) Neither the Company nor any Subsidiary, nor any officer of the Company or any Subsidiary, nor, to the
knowledge of the Company or any such Subsidiary, any director, employee, or agent of the Company or any Subsidiary, is a Person
that is, or is owned or controlled by Persons that are (x) the subject or target of any Sanctions or (y) located, organized
or resident of a country or territory that is, or whose government is, the subject of Sanctions; and (ii) each Borrower and
its Subsidiaries has implemented and maintains in effect policies and procedures designed to ensure compliance in all material
respects by the Borrower and its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption
Laws and applicable Sanctions..

Section 3.17       
EEA Financial Institutions. No Loan Party is an EEA Financial Institution.

ARTICLE
IV

Conditions

Section 4.01       
Closing Date. The obligations of the Lenders to make Loans hereunder shall not become effective until the date on
which each of the following conditions is satisfied (or waived in accordance with Section 10.02):

(a)              
The Existing Credit Agreement shall have been terminated and the Company shall have repaid all of the indebtedness, fees
and other amounts owed thereunder.

    	 

    	 

    

(b)              
The Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart of this
Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include
facsimile or e-mail transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this
Agreement.

(c)              
The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the
Lenders and dated the Closing Date) of a senior legal officer or special counsel of the Company and the Guarantor, substantially
in the form of Exhibit D, and covering such other matters relating to the Company and the Guarantor, this Agreement or the
Transactions as the Administrative Agent shall reasonably request. The Company and the Guarantor hereby request such counsel to
deliver such opinion.

(d)              
The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel
may reasonably request relating to the organization, existence and good standing of the Company and the Guarantor, the authorization
of the Transactions and any other legal matters relating to the Company and Guarantor, this Agreement or the Transactions, all
in form and substance satisfactory to the Administrative Agent and its counsel.

(e)              
The Administrative Agent shall have received a certificate, dated the Closing Date and signed by the President, a Vice President
or a Financial Officer of the Company, confirming compliance with the conditions set forth in paragraphs (a) and (b) of Section
4.02.

(f)               
The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Closing Date,
including, to the extent invoiced, reimbursement or payment of all reasonable out-of-pocket expenses required to be reimbursed
or paid by the Company hereunder.

(g)              
All governmental and third party approvals necessary in connection with the continuing operations of the Company and its
Subsidiaries and the transactions contemplated hereby shall have been obtained and be in full force and effect, and all applicable
waiting periods shall have expired without any action being taken or threatened by any competent authority that would restrain,
prevent or otherwise impose adverse conditions on the financing contemplated hereby.

(h)              
The Lenders shall have received (i) audited consolidated financial statements of the Company for the 2015, 2016 and
2017 fiscal years and (ii) unaudited interim consolidated financial statements of the Company for each fiscal quarterly period
ended subsequent to the date of the latest applicable financial statements delivered pursuant to clause (i) of this paragraph as
to which such financial statements are available, and such financial statements shall not, in the reasonable judgment of the Lenders,
reflect any material adverse change in the consolidated financial condition of the Company, as reflected in any financial statements
previously delivered thereto.

(i)                
The Administrative Agent shall have received from the Borrowers (1) all documentation and other information requested by
the Administrative Agent and the Lenders that is required to satisfy applicable “know your customer” and anti-money
laundering rules and

    	 

    	 

    

regulations, including without limitation
the Patriot Act, and (2) to the extent any Loan Party qualifies as a “legal entity customer” under 31 C.F.R. 1010.230
(the “Beneficial Ownership Regulation”), a Beneficial Ownership Certification.

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

The Administrative Agent shall notify
the Company and the Lenders of the Closing Date in writing, and such notice shall be conclusive and binding. Notwithstanding the
foregoing, the obligations of the Lenders to make Loans hereunder shall not become effective unless each of the foregoing conditions
is satisfied (or waived pursuant to Section 10.02) at or prior to 5:00 p.m., New York City time, on December 11, 2018 (and,
in the event such conditions are not so satisfied or waived, the Commitments shall terminate at such time).

Section 4.02       
Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing (including, without
limitation, its initial Loan) is subject to the satisfaction of the following conditions:

(a)              
The representations and warranties of the Borrowers set forth in this Agreement shall be true and correct in all material
respects (or, in the case of any such representation or warranty already qualified by materiality, in all respects) on and as of
the date of such Borrowing; except for any representation and warranty made as of an earlier date, which representation and warranty
shall be true in all material respects on such earlier date.

(b)              
At the time of and immediately after giving effect to such Borrowing, no Default shall have occurred and be continuing.

Each Borrowing and any increase of the aggregate Commitments pursuant
to Section 2.19 shall be deemed to constitute a representation and warranty by the Borrowers on the date thereof as to the
matters specified in paragraphs (a) and (b) of this Section 4.02.

ARTICLE
V

Affirmative Covenants

Until the Commitments
have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid
in full, the Company covenants and agrees with the Lenders that:

Section 5.01       
Financial Statements and Other Information. The Company will furnish to the Administrative Agent and each Lender:

(a)              
within 90 days after the end of each fiscal year of the Company, the audited consolidated balance sheet of the Company and
its Subsidiaries and the related audited

    	 

    	 

    

consolidated statements of income, of
beneficial interests and of cash flows for such year, setting forth in each case in comparative form the figures for the previous
year, reported on without a “going concern” or like qualification or exception, or qualification arising out of the
scope of the audit, by Deloitte & Touche LLP or other independent certified public accountants of nationally recognized standing
(it being agreed that the furnishing of the Company’s Annual Report on Form 10-K for such year, as filed with the Securities
and Exchange Commission, will satisfy the Company’s obligation under this Section 5.01(a) with respect to such year
except with respect to the requirement that such financial statements be reported on without a “going concern” or like
qualification or exception, or qualification arising out of the scope of the audit);

(b)              
within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Company, the unaudited
consolidated balance sheet of the Company and its Subsidiaries, and the related unaudited consolidated statements of income, beneficial
interests and cash flows for such quarter and the portion of the fiscal year through the end of such quarter, setting forth in
each case in comparative form the figures for the previous year, certified by an officer of the Company as being fairly stated
in all material respects (subject to normal year-end audit adjustments) (it being agreed that the furnishing of the Company’s
Quarterly Report on Form 10-Q for such quarter, as filed with the Securities and Exchange Commission, will satisfy the Company’s
obligations under this Section 5.01(b) with respect to such quarter);

(c)              
concurrently with any delivery of statements under clause (a) or (b) above, a certificate of a Financial Officer of the
Company (i) certifying as to whether an Event of Default has occurred and, if an Event of Default has occurred, specifying the
details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations
demonstrating compliance with Section 6.01 and (iii) stating whether any change in GAAP or in the application thereof has
occurred since the date of the audited financial statements referred to in Section 3.04 and, if any such change has occurred,
specifying the effect of such change on the financial statements accompanying such certificate;

(d)              
promptly following any request therefor, such other information regarding the operations, business affairs and financial
condition of the Company or any Subsidiary, or compliance with the terms of this Agreement, as the Administrative Agent or any
Lender may reasonably request; and

(e)              
promptly following receipt thereof, copies of any documents described in Section 101(k) or 101(1) of ERISA that the Company
or any ERISA Affiliate may request with respect to any Multiemployer Plan; provided, that if the Company or relevant ERISA
Affiliate have not requested such documents or notices from the administrator or sponsor of the applicable Multiemployer Plan,
then, upon reasonable request of the Administrative Agent, the Company or the relevant ERISA Affiliate, as applicable, shall promptly
make a request for such documents or notices from such administrator or sponsor and the Company shall provide copies of such documents
and notices to the Administrative Agent promptly after receipt thereof.

Any financial statement
or other document required to be delivered pursuant to clause (a) or (b) of this Section 5.01 may be delivered by posting
such financial statement or other document on its website and, if so delivered, will be deemed to have been delivered on the date
on which the Company posts such financial statement or other document on www.eatonvance.com; provided

    	 

    	 

    

that the Company shall give prompt notice
of any such posting to the Administrative Agent (who shall then give prompt notice of any such posting to the Lenders). Notwithstanding
the foregoing, the Company shall deliver paper copies of any financial statement or other document referred to in this Section
5.01 to the Administrative Agent if the Administrative Agent or any Lender requests the Company to deliver such paper copies
until written notice to cease delivering such paper copies is given by the Administrative Agent or such Lender as the case may
be.

Section 5.02       
Notices of Material Events. The Company will furnish to the Administrative Agent and each Lender prompt written notice
of the following:

(a)              
the occurrence of any Default;

(b)              
the filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against
or affecting the Company or any Affiliate thereof that, if adversely determined, could reasonably be expected to result in a Material
Adverse Effect;

(c)              
the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably
be expected to result in liability of the Company and its ERISA Affiliates in an aggregate amount exceeding $5,000,000;

(d)              
any suspension or termination of the registration of any Subsidiary as an investment adviser under the Investment Advisers
Act of 1940, as amended, or any cancellation or expiration without renewal of any material investment advisory agreement or similar
contract to which any Subsidiary is a party, in the case of any such cancellation or expiration where the same could reasonably
be determined to have a Material Adverse Effect; and

(e)              
any other development that results in, or could reasonably be expected to result in, a Material Adverse Effect.

Each notice delivered under this Section
5.02 shall be accompanied by a statement of a Financial Officer or other executive officer of the Company setting forth the
details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto.

Section 5.03       
Existence; Conduct of Business. The Company will, and will cause each of its Subsidiaries to, (a) do or cause to
be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses,
permits, privileges and franchises material to the conduct of its business; provided that the foregoing shall not prohibit
any merger, consolidation, liquidation or dissolution permitted under Section 6.04, and (b) comply with all Contractual
Obligations and Requirements of Law except to the extent that failure to comply therewith could not, in the aggregate, reasonably
be expected to have a Material Adverse Effect.

Section 5.04       
Payment of Obligations. The Company will, and will cause each of its Subsidiaries to, pay its obligations, including
Tax liabilities, that, if not paid, could result in a Material Adverse Effect before the same shall become delinquent or in default,
except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings, (b) the
Company or such Subsidiary has set aside on its books adequate reserves with respect

    	 

    	 

    

thereto in accordance with GAAP and
(c) the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect.

Section 5.05       
Maintenance of Properties; Insurance. The Company will, and will cause each of its Subsidiaries to, (a) keep and
maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted,
and (b) maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks
as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations.

Section 5.06       
Books and Records; Inspection Rights. The Company will, and will cause each of its Subsidiaries to, keep proper books
of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business
and activities. The Company will, and will cause each of its Subsidiaries to, permit any representatives designated by the Administrative
Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books
and records, and to discuss its affairs, finances and condition with its Financial Officers and independent accountants, all at
such reasonable times and as often as reasonably requested.

Section 5.07       
Compliance with Laws. The Company will, and will cause each of its Subsidiaries to, comply with all laws, rules,
regulations and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other
instruments binding upon it or its property and maintain all registrations and memberships with any Governmental Authority, except
where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse
Effect.

Section 5.08       
Use of Proceeds. The proceeds of the Loans will be used (i) to finance the working capital needs of the Company and
its Subsidiaries and for general corporate purposes, (ii) to repay indebtedness, fees and other amounts owed under the Existing
Credit Agreement, and (iii) to consummate Permitted Acquisitions. No part of the proceeds of any Loan will be used for any
purpose that would result in a violation, by any Person party hereto or any Subsidiary of the Company, of any of the Regulations
of the Board, including Regulations T, U and X.

Section 5.09       
Environmental Laws. The Company will, and will cause each of its Subsidiaries to, (a) comply in all material respects
with all applicable Environmental Laws, and obtain and comply in all material respects with and maintain any and all licenses,
approvals, notifications, registrations or permits required by applicable Environmental Laws, and (b) conduct and complete
all investigations, studies, sampling and testing, and all remedial, removal and other actions required under Environmental Laws
and promptly comply in all material respects with all lawful orders and directives of all Governmental Authorities regarding Environmental
Laws, except in each case to the extent that non-compliance therewith could not reasonably be expected to result in a Material
Adverse Effect.

Section 5.10       
Sanctions, Patriot Act Compliance. The Company will, and will cause each Subsidiary to, (i) refrain from doing business
with any Person that is, or, to the knowledge of the Company and the Subsidiaries, is owned or controlled by Persons that are,
the subject of Sanctions or located, organized or resident in a country or territory that is, or whose government is, the

    	 

    	 

    

subject of Sanctions, (ii) maintain
and enforce policies and procedures with respect to itself and its Subsidiaries designed to ensure compliance in all material respects
with applicable Sanctions and Anti-Corruption Laws, (iii) provide such information and take such actions as are reasonably
requested by the Administrative Agent or any Lender in order to assist the Administrative Agent and the Lenders in maintaining
compliance with the Patriot Act, (iv) notify the Administrative Agent and each Lender that previously received a Beneficial Ownership
Certification of any change in the information provided in the Beneficial Ownership Certification that would result in a change
to the list of beneficial owners identified therein and (v) promptly upon the reasonable request of the Administrative Agent or
any Lender, provide the Administrative Agent or such Lender, as the case may be, any information or documentation requested by
it for purposes of complying with the Beneficial Ownership Regulation.

ARTICLE
VI

Negative Covenants

Until the Commitments
have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder have been paid in full,
the Company covenants and agrees with the Lenders that:

Section 6.01       
Financial Condition Covenants.

(a)              
Consolidated Leverage Ratio. The Company shall not permit the Consolidated Leverage Ratio as at the last day of any
period of four consecutive fiscal quarters of the Company to equal or exceed the ratio of 3.00:1.00.

(b)              
Consolidated Interest Coverage Ratio. The Company shall not permit the Consolidated Interest Coverage Ratio as at
the last day of any period of four consecutive fiscal quarters of the Company to equal or be less than the ratio of 4.00:1.00.

Section 6.02       
Indebtedness. The Company will not permit any Subsidiary that is not a Borrower to create, incur, assume or permit
to exist any Indebtedness, except:

(a)              
Indebtedness created under this Agreement;

(b)              
Indebtedness existing on the date hereof and, to the extent in excess of $10,000,000 individually, set forth in Schedule
6.02;

(c)              
Indebtedness of any Subsidiary to the Company or any other Subsidiary;

(d)              
Guarantees by any Subsidiary that has guaranteed the Borrower Obligations (pursuant to documentation in form and substance
satisfactory to the Administrative Agent) of Indebtedness of the Company or any other Subsidiary;

(e)              
Indebtedness of any Subsidiary incurred to finance the acquisition, lease, construction, repair, maintenance, replacement
or improvement of any fixed or capital assets, including Capital Lease Obligations and any Indebtedness assumed in connection with
the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition

    	 

    	 

    

thereof, and extensions, renewals and
replacements of any such Indebtedness that do not increase the outstanding principal amount thereof; provided that (i) such
Indebtedness is incurred prior to or within 180 days after such acquisition, lease or the completion of such construction, repair,
maintenance, replacement or improvement and (ii) the aggregate principal amount of Indebtedness permitted by this clause (e) shall
not exceed $50,000,000 at any time outstanding;

(f)               
Indebtedness of any Person that becomes a Subsidiary after the date hereof; provided that such Indebtedness exists
at the time such Person becomes a Subsidiary and is not created in contemplation of or in connection with such Person becoming
a Subsidiary;

(g)              
Indebtedness of any Subsidiary as an account party in respect of trade letters of credit, bank guarantees or similar instruments
issued or incurred in the ordinary course of business, including in respect of card obligations or any overdraft and related liabilities
arising from treasury, depository and cash management services or any automated clearing house transfers, workers compensation
claims, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance or other Indebtedness
with respect to reimbursement-type obligations regarding workers compensation claims;

(h)              
Indebtedness in the form of reimbursements owed to officers, directors, consultants and employees in the ordinary course
of business;

(i)                
(A) Indebtedness of any Subsidiary of the Company that has guaranteed the Borrower Obligations (pursuant to documentation
in form and substance satisfactory to the Administrative Agent) incurred or issued to finance a Permitted Acquisition; and (B) Indebtedness
of any other Subsidiary of the Company incurred or issued to finance a Permitted Acquisition in an aggregate principal amount for
all such Indebtedness at any time outstanding under this clause (B) of up to $150,000,000;

(j)                
Indebtedness in the form of earn-outs, purchase price adjustments, indemnification obligations or similar arrangements and
other contingent payments in respect of Permitted Acquisitions and dispositions not prohibited by Section 6.06 or 6.08
hereof (both before or after any liability associated therewith becomes fixed);

(k)              
other unsecured Indebtedness of Subsidiaries that are not Loan Parties in an aggregate principal amount not exceeding $25,000,000
at any time outstanding;

(l)                
other unsecured indebtedness of Loan Parties; provided that after giving effect to such Indebtedness (i) no Default
or Event of Default shall have occurred and be continuing and (ii) the Company shall be in compliance, on a pro forma basis,
with the financial covenants set forth in Section 6.01 as of the end of the most recent fiscal quarter of the Company;

(m)            
Indebtedness assumed in connection with any refinancings, refundings, renewals or extensions of any Indebtedness permitted
by this Section 6.02 (other than pursuant to Section 6.02(a) or 6.02(b)) without increasing, or shortening
the maturity of, the principal amount thereof; provided that any refinancings, refundings, renewals or extensions of any
Indebtedness incurred pursuant to clause (l) of this Section 6.02 shall be unsecured; provided further that no refinancings,
refundings, renewals or extensions of any Indebtedness incurred pursuant to clause (e), (i) or (k) of this Section 6.02
shall be permitted under this clause (m); and

    	 

    	 

    

(n)              
Indebtedness in respect of Derivatives Transactions or Hedging Agreements entered into in the ordinary course of business.

Each category of
Indebtedness (other than Indebtedness under this Agreement which shall at all times be deemed to be outstanding pursuant to clause
(a)) set forth above shall be deemed to be cumulative and for purposes of determining compliance with this Section 6.02,
in the event that an item of Indebtedness (or any portion thereof) at any time meets the criteria of more than one of the categories
described above, the Company, in its sole discretion, may classify or reclassify (or later divide, classify or reclassify) such
item of Indebtedness (or any portion thereof) and shall only be required to include the amount and type of such Indebtedness in
one of the above clauses.

Section 6.03       
Liens. The Company will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any
Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts
receivable) or rights in respect of any thereof, except (Liens described below, “Permitted Liens”):

(a)              
Permitted Encumbrances;

(b)              
Liens on any property or asset of (i) any Loan Party in favor of any other Loan Party and (ii) any Subsidiary
that is not a Loan Party in favor of the Company or any other Subsidiary;

(c)              
any Lien on any property or asset of the Company or any Subsidiary existing on the date hereof and, to the extent securing
an obligation in an amount in excess of $10,000,000, set forth in Schedule 6.03; provided that (i) such Lien
shall not apply to any other property or asset of the Company or any Subsidiary and (ii) such Lien shall secure only those
obligations which it secures on the date hereof and any refinancings, refundings, renewals or extensions thereof permitted by Section
6.02(m);

(d)              
any Lien existing on any property or asset prior to the acquisition thereof by the Company or any Subsidiary or existing
on any property or asset of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a
Subsidiary; provided that (i) such Lien is not created in contemplation of or in connection with such acquisition or
such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply to any other property or assets of the
Company or any Subsidiary other than (A) improvements and after-acquired property that is affixed or incorporated into the
property covered by such Lien, and (B) proceeds and products thereof, and (iii) such Lien shall secure only those obligations
which it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be, and any refinancings,
refundings, renewals or extensions thereof permitted by Section 6.02(m);

(e)              
Liens on real or personal property, plant and equipment acquired, leased, constructed, repaired, maintained, replaced, installed
or improved by the Company or any Subsidiary; provided that (i) such security interests secure Indebtedness permitted by
clause (e) of Section 6.02 and any refinancings, refundings, renewals or extensions thereof permitted by clause (m) of Section
6.02, (ii) such security interests and the Indebtedness secured thereby, other than any refinancings, refundings, renewals
or extensions thereof permitted by clause (m) of Section 6.02, are incurred prior to or within 180 days after such acquisition
or lease or the completion of such construction, repair, maintenance or replacement or installation or improvement, (iii) the Indebtedness
secured thereby does not exceed 100% of the cost of acquiring, constructing or improving such property, plant and equipment and
(iv) such security interests shall not apply to any other property or assets of the Company or any Subsidiary; provided further
that individual financings of equipment provided by one lender may be cross-collateralized to other financings of equipment provided
by such lender;

(f)               
any Lien on any property or asset of the Company or any Subsidiary provided for in any Derivatives Transactions or Hedging
Agreements;

(g)              
any restriction or encumbrance with respect to the pledge or transfer of the equity interests of a joint venture;

(h)              
Liens arising in connection with securities lending arrangements entered into in the ordinary course of business; and

(i)                
Liens not otherwise permitted by this Section 6.03; provided that a Lien shall be permitted to be incurred
pursuant to this clause (h) only if at the time such Lien is incurred the aggregate principal amount of the obligations secured
at such time (including such Lien) by Liens outstanding pursuant to this clause (h) would not exceed $50,000,000.

Section 6.04       
Fundamental Changes.

(a)              
The Company will not, and will not permit any Subsidiary to, merge into or consolidate with any other Person, or permit
any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or
in a series of transactions) all or substantially all of its assets, or all or substantially all of the Capital Stock of any of
its Subsidiaries (in each case, whether now owned or hereafter acquired), or liquidate or dissolve, except that if, at the time
thereof and immediately after giving effect thereto no Default shall have occurred and be continuing, then (i) any other Person,
including a Subsidiary, may merge into the Company in a transaction in which the Company is the surviving Person, (ii) any
Subsidiary may merge into any other Subsidiary in a transaction in which the surviving entity is a Subsidiary, (iii) any Subsidiary
may sell, transfer, lease or otherwise dispose of its assets to the Company or to another Subsidiary, (iv) any Subsidiary
may liquidate or dissolve if the Company determines in good faith that such liquidation or dissolution is in the best interests
of the Company and could not reasonably be expected to have a Material Adverse Effect, and (v) the Company may merge into
or consolidate with another Person in a transaction in which such other Person is the surviving entity if (1) such other Person
is organized and validly existing under the laws of the United States or any State thereof and by operation of law or otherwise
assumes all obligations of the Company hereunder and such assumption is evidenced by an opinion of counsel to such other Person
satisfactory in form and substance to the Administrative Agent in its reasonable discretion and (2) the Administrative Agent and
the Lenders shall have received from such Person all documentation and other information requested by the Administrative Agent
and the Lenders that is required to satisfy applicable “know your customer” and anti-money laundering rules and regulations,
including without limitation the Patriot Act; provided that any such merger involving a Person that is not a wholly owned
Subsidiary immediately prior to such merger shall not be permitted unless

    	 

    	 

    

also permitted by Section 6.05.
In the event of any merger or consolidation involving the Guarantor, or in the event of any sale, transfer or other disposition
by the Guarantor of all or substantially all of its assets, in either case as permitted above in this Section 6.04(a), the
surviving Person of such merger or consolidation (if the surviving Person is not the Guarantor) or the transferee of all or substantially
all of the assets of the Guarantor, as the case may be, shall expressly assume all of the obligations, duties and liabilities of
the Guarantor hereunder in a manner reasonably satisfactory to the Administrative Agent; and, no such merger or consolidation,
and no such sale, transfer or other disposition, shall be permitted hereunder in the absence of such an assumption.

(b)              
The Company will not, and will not permit any of its Subsidiaries to, engage to any material extent in any business other
than businesses of the type conducted by the Company and its Subsidiaries on the date of execution of this Agreement and businesses
reasonably related thereto.

Section 6.05       
Acquisitions. The Company will not, and will not permit any of its Subsidiaries to purchase or otherwise acquire
(in one transaction or a series of transactions) any other Person or assets of any other Person constituting a business unit, except
pursuant to a Permitted Acquisition.

Section 6.06       
Transactions with Affiliates. The Company will not, and will not permit any of its Subsidiaries to, sell, lease or
otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise
engage in any other transactions with, any of its Affiliates, except (a) in the ordinary course of business at prices and
on terms and conditions not less favorable to the Company or such Subsidiary than could be obtained on an arm’s-length basis
from unrelated third parties, (b) transactions between or among the Company and its Subsidiaries not involving any other Affiliate
and, (c) so long as no Event of Default under clauses (a), (h), (i) or (j) of Article VII shall have occurred and be
continuing, the payment of customary compensation and benefits and reimbursements of out-of-pocket costs to, and the provision
of indemnity on behalf of, directors, officers, consultants and employees of the Company or any Subsidiary and employment, incentive,
benefit, consulting and severance arrangements entered into in the ordinary course of business with officers, directors, consultants
and employees of the Company or its Subsidiaries; provided that during any period that the Company is a public company regulated
by, and required to file regular periodic reports with, the Securities and Exchange Commission, any compensation paid to any director
or executive officer of the Company or any Subsidiary which has been specifically approved by the Board of Directors of the Company
(or by the Compensation Committee of the Board of Directors of the Company or other committee responsible for such approval) during
such period will be deemed to be customary and entered into in the ordinary course of business for purposes of this clause (c),
(d) transactions with joint venture partners entered into in the ordinary course of business, (e) loans and advances
to officers, directors, consultants and employees in the ordinary course of business, and (f) any transaction expressly permitted
by Sections 6.02(c), 6.02(d), 6.02(h), 6.02(i) and 6.04.

Section 6.07       
Changes in Fiscal Periods. The Company will not permit the fiscal year of the Company to end on a day other than
the last Business Day closest to October 31 or change the Company’s method of determining fiscal quarters.

Section 6.08       

    	 

    	 

    

Limitation on Sale of Assets.
The Company will not, and will not permit any of its Subsidiaries to, dispose of any of its property or business (including, without
limitation, receivables and leasehold interests), whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue
or sell any shares of such Subsidiary’s Capital Stock to any Person, except:

(a)              
dispositions permitted by Section 6.04;

(b)              
transactions permitted by Section 6.05;

(c)              
the sale or issuance of any Subsidiary’s Capital Stock to the Company or any wholly-owned Subsidiary;

(d)              
any sale, transfer or lease, sublease, license or sublicense, in each case in the ordinary course of business or other disposition
by the Company or any Subsidiary in the ordinary course of business;

(e)              
dispositions of property or assets to the Company or to a Subsidiary;

(f)               
dispositions of investments in joint ventures to the extent required by, or made pursuant to customary buy/sell arrangements
between, the joint venture parties set forth in joint venture arrangements and similar binding arrangements;

(g)              
sale and leasebacks of properties acquired following the Closing Date within 180 days of the acquisition thereof; provided
that any resulting Capital Lease Obligations are permitted under Section 6.02; and

(h)              
any sale, transfer or lease or other disposition by the Company or any Subsidiary not in the ordinary course of business
having a fair market value not to exceed $125,000,000 in the aggregate for the Company or any Subsidiary.

Section 6.09       
Sanctions; Anti-Corruption Use of Proceeds. The Borrowers will not, directly or indirectly, use the proceeds of the
Loans, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person,
(i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of
value, to any Person in violation of the Anti-Corruption Laws or any other applicable anti-corruption law, or (ii) (A) to fund
any activities or business of or with any Person, or in any country or territory, that, at the time of such funding, is, or whose
government is, the subject of Sanctions, or (B) in any other manner that would result in a violation of Sanctions by any Person
(including any Person participating in the Loans, whether as Administrative Agent, arranger, issuing bank, Lender, underwriter,
advisor, investor, or otherwise).

ARTICLE
VII

Events of Default

Section 7.01       
Events of Default. If any of the following events (“Events of Default”) shall occur:

    	 

    	 

    

(a)              
any Borrower shall fail to pay any principal of any Loan when and as the same shall become due and payable, whether at the
due date thereof or at a date fixed for prepayment thereof or otherwise;

(b)              
any Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to
in clause (a) of this Article VII) payable under this Agreement, when and as the same shall become due and payable, and
such failure shall continue unremedied for a period of five Business Days;

(c)              
any representation or warranty made or, pursuant to Section 4.02 deemed made, by or on behalf of the Company or any
Subsidiary in or in connection with this Agreement or any amendment or modification hereof, or in any report, certificate, financial
statement or other document furnished pursuant to or in connection with this Agreement or any amendment or modification hereof,
shall prove to have been materially incorrect or misleading (or, in the case of any such representation or warranty under this
Agreement already qualified by materiality, such representation or warranty shall prove to have been incorrect or misleading) when
made or deemed made;

(d)              
the Company shall fail to observe or perform any covenant, condition or agreement contained in Section 5.02, 5.03
(with respect to the Company’s or any other Loan Party’s existence) or the last sentence of 5.08 or in Article
VI;

(e)              
the Company shall fail to observe or perform any covenant, condition or agreement contained in this Agreement (other than
those specified in clause (a), (b) or (d) of this Article VII), and such failure shall continue unremedied for a period
of 30 days or more after notice thereof from the Administrative Agent (given at the request of any Lender) to the Company;

(f)               
the Company or any Subsidiary shall fail to make any payment (whether of principal or interest) in respect of any Material
Indebtedness, when and as the same shall become due and payable;

(g)              
any event or condition occurs that results in the acceleration of any Material Indebtedness prior to its scheduled maturity;
provided that this clause (g) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale
or transfer of the property or assets securing such Indebtedness;

(h)              
an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization
or other relief in respect of the Company or any Subsidiary or its debts, or of a substantial part of its assets, under any Federal,
state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of
a receiver, trustee, custodian, sequestrator, conservator or similar official for the Company or any Subsidiary or for a substantial
part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days or more or an order
or decree approving or ordering any of the foregoing shall be entered;

(i)                
the Company or any Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization
or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect,
(ii) consent

    	 

    	 

    

to the institution of, or fail to contest
in a timely and appropriate manner, any proceeding or petition described in clause (h) of this Article VII, (iii) apply
for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Company
or any Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition
filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for
the purpose of effecting any of the foregoing;

(j)                
the Company or any Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts as
they become due;

(k)              
one or more uninsured judgments for the payment of money in an aggregate amount in excess of $50,000,000 shall be rendered
against the Company, any Subsidiary or any combination thereof and the same shall remain undischarged for a period of 30 consecutive
days during which execution shall not be effectively stayed;

(l)                
an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together with all other ERISA
Events that have occurred, could reasonably be expected to result in a Material Adverse Effect;

(m)            
a Change in Control shall occur;

(n)              
the obligations of the Guarantor under Article VIII shall cease to be in full force and effect in any material respect
or the Guarantor shall so assert; or

(o)              
the joint and several obligations of the Company in respect of the Borrower Obligations of all Borrowers shall cease to
be in full force and effect in any material respect or the Company shall so assert;

then, and in every such event (other
than an event with respect to the Company described in clause (h) or (i) of this Article VII), and at any time thereafter
during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice
to the Company, take either or both of the following actions, at the same or different times: (i) terminate the Commitments,
and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in
whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable),
and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees
and other obligations of the Borrowers accrued hereunder, shall become due and payable immediately, without presentment, demand,
protest or other notice of any kind, all of which are hereby waived by the Borrowers; and in case of any event with respect to
the Company described in clause (h) or (i) of this Article VII, the Commitments shall automatically terminate and the principal
of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrowers accrued
hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of
which are hereby waived by the Borrowers.

Section 7.02       
Application of Payments. Notwithstanding anything herein to the contrary, following the occurrence and during the
continuance of an Event of Default, and notice thereof to the Administrative Agent by the Borrower or the Required Lenders, all
payments received on

    	 

    	 

    

account of the Borrower Obligations
shall, subject to Sections 2.23, shall be applied by the Administrative Agent as follows:

		i.	first, to payment of that portion of the Borrower Obligations constituting fees, indemnities, expenses
and other amounts (including fees and disbursements and other charges of counsel payable under Section 10.03) payable to the Administrative
Agent in its capacity as such;

		ii.	second, to payment of that portion of the Borrower Obligations constituting fees, indemnities and
other amounts payable to the Lenders (including fees and disbursements and other charges of counsel payable under Section 10.03)
arising hereunder or under any agreement or instrument or instrument contemplated hereby, ratably among them in proportion to the
respective amounts described in this clause (ii) payable to them;

		iii.	third, to payment of that portion of the Borrower Obligations constituting unpaid principal of
the Loans, ratably among the Lenders in proportion to the respective amounts described in this clause (iii) payable to them;

		iv.	fourth, to the payment in full of all other Borrower Obligations, in each case ratably among the
Administrative Agent and the Lenders based upon the respective aggregate amounts of all such Borrower Obligations owing to them
in accordance with the respective amounts thereof then due and payable; and

		v.	finally, the balance, if any, after all Borrower Obligations have been indefeasibly paid in full,
to the Borrowers or as otherwise required by Law.

ARTICLE
VIII

The Guarantee

Section 8.01       
Guarantee.

(a)              
The Guarantor hereby, jointly and severally, unconditionally and irrevocably, guarantees to the Administrative Agent, for
the ratable benefit of the Lenders and their respective successors, indorsees, transferees and assigns, the prompt and complete
payment and performance by the Borrowers when due (whether at the stated maturity, by acceleration or otherwise) of the Borrower
Obligations.

(b)              
Anything herein to the contrary notwithstanding, the maximum liability of the Guarantor hereunder shall in no event exceed
the amount which can be guaranteed by the Guarantor under applicable federal and state laws relating to the insolvency of debtors
(after giving effect to the right of subrogation and contribution established in Section 8.02).

(c)              
The Guarantor agrees that the Borrower Obligations may at any time and from time to time exceed the amount of the liability
of the Guarantor hereunder without impairing the guarantee contained in this Article VIII or affecting the rights and remedies
of the Administrative Agent or any Lender hereunder.

(d)              
The guarantee contained in this Article VIII shall remain in full force and effect until all the Borrower Obligations
and the obligations of the Guarantor under the guarantee contained in this Article VIII shall have been satisfied by payment
in full and the Commitments

    	 

    	 

    

shall have been terminated, notwithstanding
that from time to time during the term of this Agreement a Borrower may be free from any Borrower Obligations.

(e)              
No payment made by the Borrowers, the Guarantor, any other guarantor or any other Person or received or collected by the
Administrative Agent or any Lender from the Borrowers, the Guarantor, any other guarantor or any other Person by virtue of any
action or proceeding or any set-off or appropriation or application at any time or from time to time in reduction of or in payment
of the Borrower Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of the Guarantor hereunder
which shall, notwithstanding any such payment (other than any payment made by the Guarantor in respect of the Borrower Obligations
or any payment received or collected from the Guarantor in respect of the Borrower Obligations), remain liable for the Borrower
Obligations up to the maximum liability of the Guarantor hereunder until the Borrower Obligations are paid in full and the Commitments
are terminated. The provisions of Section 2.14 and 2.16 shall apply to the Guarantor under this Article VIII
(with appropriate changes therein to refer to the Guarantor as necessary).

Section 8.02       
No Subrogation. Notwithstanding any payment made by the Guarantor hereunder or any set-off or application of funds
of the Guarantor by the Administrative Agent or any Lender, the Guarantor shall not be entitled to be subrogated to any of the
rights of the Administrative Agent or any Lender against the Borrowers or any collateral security or guarantee or right of offset
held by the Administrative Agent or any Lender for the payment of the Borrower Obligations, nor shall the Guarantor seek or be
entitled to seek any contribution or reimbursement from the Borrowers in respect of payments made by the Guarantor hereunder, until
all amounts owing to the Administrative Agent and the Lenders by the Borrowers on account of the Borrower Obligations are paid
in full and the Commitments are terminated. If any amount shall be paid to the Guarantor on account of such subrogation rights
at any time when all of the Borrower Obligations shall not have been paid in full, such amount shall be held by the Guarantor in
trust for the Administrative Agent and the Lenders, segregated from other funds of the Guarantor, and shall, forthwith upon receipt
by the Guarantor, be turned over to the Administrative Agent in the exact form received by the Guarantor (duly indorsed by the
Guarantor to the Administrative Agent, if required), to be applied against the Borrower Obligations, whether matured or unmatured,
in such order as the Administrative Agent may determine.

Section 8.03       
Amendments, etc. with Respect to the Borrower Obligations. The Guarantor shall remain obligated hereunder notwithstanding
that any of the following may occur, without notice to or further assent by the Guarantor, (i) any demand for payment of any of
the Borrower Obligations made by the Administrative Agent or any Lender may be rescinded by the Administrative Agent or such Lender
and any of the Borrower Obligations continued, (ii) the Borrower Obligations, or the liability of any other Person upon or for
any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time,
in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the
Administrative Agent or any Lender, (iii) this Agreement and any other documents executed and delivered in connection therewith
may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent (or the Required Lenders
or all Lenders, as the case may be) may deem advisable from time to time, or (iv) any collateral security, guarantee or right of
offset at any time held by the Administrative Agent or any Lender for the payment of the Borrower Obligations may be sold, exchanged,
waived,

    	 

    	 

    

surrendered or released. Neither the
Administrative Agent nor any Lender shall have any obligation to protect, secure, perfect or insure any Lien at any time held by
it as security for the Borrower Obligations or for the guarantee contained in this Article VIII or any property subject
thereto.

Section 8.04       
Guarantee Absolute and Unconditional. The Guarantor waives any and all notice of the creation, renewal, extension
or accrual of any of the Borrower Obligations and notice of or proof of reliance by the Administrative Agent or any Lender upon
the guarantee contained in this Article VIII or acceptance of the guarantee contained in this Article VIII; the Borrower
Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended,
amended or waived, in reliance upon the guarantee contained in this Article VIII; and all dealings between the Borrowers
and the Guarantor, on the one hand, and the Administrative Agent and the Lenders, on the other hand, likewise shall be conclusively
presumed to have been had or consummated in reliance upon the guarantee contained in this Article VIII. The Guarantor waives
diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Borrowers with respect to
the Borrower Obligations, and any defense based on any illegality or lack of validity or enforceability of any Borrower Obligation,
this Agreement or any related agreement or instrument. The Guarantor understands and agrees that the guarantee contained in this
Article VIII shall be construed as a continuing, absolute and unconditional guarantee of payment without regard to (a) any
defense, set-off or counterclaim (other than a defense of payment or performance) which may at any time be available to or be asserted
by the Borrowers or any other Person against the Administrative Agent or any Lender, or (b) any other circumstance whatsoever (with
or without notice to or knowledge of the Borrowers or the Guarantor) which constitutes, or might be construed to constitute, an
equitable or legal discharge of the Borrowers for the Borrower Obligations, or of the Guarantor under the guarantee contained in
this Article VIII, in bankruptcy or in any other instance. When making any demand hereunder or otherwise pursuing its rights
and remedies hereunder against the Guarantor, the Administrative Agent or any Lender may, but shall be under no obligation to,
make a similar demand on or otherwise pursue such rights and remedies as it may have against the Borrowers or any other Person
or against any collateral security or guarantee for the Borrower Obligations or any right of offset with respect thereto, and any
failure by the Administrative Agent or any Lender to make any such demand, to pursue such other rights or remedies or to collect
any payments from the Borrowers or any other Person or to realize upon any such collateral security or guarantee or to exercise
any such right of offset, or any release of the Borrowers or any other Person or any such collateral security, guarantee or right
of offset, shall not relieve the Guarantor of any obligation or liability hereunder, and shall not impair or affect the rights
and remedies, whether express, implied or available as a matter of law, of the Administrative Agent or any Lender against the Guarantor.
For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Section 8.05       
Reinstatement. The guarantee contained in this Article VIII shall continue to be effective, or be reinstated,
as the case may be, if at any time payment, or any part thereof, of any of the Borrower Obligations is rescinded or must otherwise
be restored or returned by the Administrative Agent or any Lender upon the insolvency, bankruptcy, dissolution, liquidation or
reorganization of any Borrower or the Guarantor or upon or as a result of the appointment of a receiver, intervenor or conservator
of, or trustee or similar officer for, any Borrower or the

    	 

    	 

    

Guarantor or any substantial part of
its property, or otherwise, all as though such payments had not been made.

Section 8.06       
Payments. The Guarantor hereby guarantees that payments hereunder will be paid to the Administrative Agent without
set-off or counterclaim in dollars at the office of the Administrative Agent.

ARTICLE
IX

The Administrative Agent

Except as provided
below, each of the Lenders hereby irrevocably appoints Wells Fargo Bank, National Association to act on its behalf as the Administrative
Agent and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to
the Administrative Agent by the terms hereof, together with such actions and powers as are reasonably incidental thereto. The provisions
of this Article IX are solely for the benefit of the Administrative Agent and the Lenders, and no Loan Party shall
have rights as a third-party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent”
herein (or any similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied
or express obligations arising under agency doctrine of any applicable law. Instead, such term is used as a matter of market custom,
and is intended to create or reflect only an administrative relationship between contracting parties.

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

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

    	 

    	 

    

forth herein, have any duty to disclose,
and shall not be liable for the failure to disclose, any information relating to the Company or any of its Affiliates that is communicated
to or obtained by the Person serving as Administrative Agent or any of its Affiliates in any capacity.

The Administrative
Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders
(or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good
faith shall be necessary, under the circumstances as provided for in Section 10.02 or Article VII or (ii)
in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and
nonappealable judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written
notice thereof is given to the Administrative Agent in writing by the Company or a Lender, and the Administrative Agent shall not
be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made by any
other Person in or in connection with this Agreement, (ii) the contents of any certificate, report or other document delivered
by any other Person hereunder or in connection herewith, (iii) the performance or observance of any of the covenants, agreements
or other terms or conditions set forth herein, (iv) the validity, enforceability, effectiveness (other than its own due execution)
or genuineness of this Agreement or any other agreement, instrument or document, or (v) the satisfaction of any condition
set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered
to the Administrative Agent.

The Administrative
Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other
distribution) reasonably believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person.
The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made
by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder
to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume
that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from
such Lender prior to the making of such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for the
Company), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by
it in accordance with the advice of any such counsel, accountants or experts.

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

    	 

    	 

    

Subject to the appointment
and acceptance of a successor Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time
by notifying the Lenders and the Company. Upon any such resignation, the Required Lenders shall have the right, in consultation
with the Company, to appoint a successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted
such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative
Agent may (but is not obligated to), on behalf of the Lenders, appoint a successor Administrative Agent which shall be a bank with
an office in New York, New York, or an Affiliate of any such bank. Whether or not a successor Administrative Agent has been appointed
or accepted such appointment, such resignation shall become effective in accordance with the notice given for such resignation.
Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become
vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative
Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Borrowers to a successor Administrative
Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrowers and such successor. After
the Administrative Agent’s resignation hereunder, the provisions of this Article IX and Section 10.03 shall
continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as Administrative
Agent.

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

Anything herein
to the contrary notwithstanding, none of the arrangers listed on the cover page hereof shall have any powers, duties or responsibilities
under this Agreement, except in its capacity, as applicable, as the Administrative Agent or a Lender hereunder.

 

ARTICLE
X

Miscellaneous

Section 10.01   
Notices.

(a)              
Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone,
all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier
service, mailed by certified or registered mail or sent by facsimile, as follows:

(i)                
if to the Company, to it at Eaton Vance Corp., Two International Place, Boston, MA 02110, Attention: Treasurer (Facsimile
No. (617) 672-1774); with a copy to

    	 

    	 

    

the Chief Financial Officer (Facsimile
No. (617) 672-1527 and Chief Legal Officer (Facsimile No. (617) 672-1566) of the Company.

(ii)             
if to the Administrative Agent, to Wells Fargo Bank, National Association, 1525 West W.T. Harris Blvd., Mail Code: D1109-019,
Charlotte, North Carolina 28262, Attention: Syndication Agency Services (Facsimile No. (704) 590 2790), with a copy to Wells Fargo
Bank, National Association, Y1375-080 One South Broad Street, Philadelphia, PA 19107, Attention of Grainne Pergolini (Facsimile
No. (267) 321-7021); and

(iii)           
if to any other Lender, to it at its address (or facsimile number) set forth in its Administrative Questionnaire.

(b)              
Electronic Communications.

(i)                
Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communication (including
e-mail, FpML, and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that
the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender has notified the Administrative Agent
that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrowers
may, in their discretion, agree to accept notices and other communications to them hereunder by electronic communications pursuant
to procedures approved by them; provided that approval of such procedures may be limited to particular notices or communications.

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

(c)              
Changes in Notice Information. Any party hereto may change its address or facsimile number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto
in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt.

(d)              
Platform.

(i)                
The Borrowers agree that the Administrative Agent may, but shall not be obligated to, make the Communications (as defined
below) available to the Lenders by posting the Communications on the Platform.

    	 

    	 

    

(ii)             
The Platform is provided “as is” and “as available.” The Agent Parties (as defined below) do not
warrant the adequacy of the Platform and expressly disclaim liability for errors or omissions in the Communications. No warranty
of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement
of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection with the Communications
or the Platform. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”)
have any liability to the Borrowers, any Lender or any other Person or entity for damages of any kind, including direct or indirect,
special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out of the Borrowers’
or the Administrative Agent’s transmission of communications through the Platform. “Communications” means,
collectively, any notice, demand, communication, information, document or other material provided by or on behalf of the Borrower
pursuant to this Agreement or any agreement or instrument contemplated hereby or the transactions contemplated therein that is
distributed to the Administrative Agent, any Lender by means of electronic communications pursuant to this Section, including through
the Platform.

Section 10.02   
Waivers; Amendments.

(a)              
No failure or delay by the Administrative Agent or any Lender in exercising any right or power hereunder shall operate as
a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of
steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power.
The rights and remedies of the Administrative Agent and the Lenders hereunder are cumulative and are not exclusive of any rights
or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by the Borrowers
therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 10.02, and
then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting
the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether
the Administrative Agent or any Lender may have had notice or knowledge of such Default at the time.

(b)              
Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements
in writing entered into by the Borrowers and the Required Lenders or by the Borrowers and the Administrative Agent with the consent
of the Required Lenders; provided that no such agreement shall (i) increase or extend the Commitment of any Lender without
the written consent of such Lender (it being understood that a waiver of any condition precedent set forth in Article IV or the
waiver of any Default shall not constitute an extension or increase of any Commitment of any Lender), (ii) reduce the principal
amount of any Loan or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of
each Lender affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan, or any interest
thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date
of expiration of any Commitment, without the written consent of each Lender affected thereby, (iv) change Section 2.17(b)
or (c) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each
Lender, (v) release the Guarantor from its Guarantee contained herein, without the written consent of each Lender, (vi) change
any

    	 

    	 

    

of the provisions of this Section
10.02(b) or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage
of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without
the written consent of each Lender or (vii) release the Company from its joint and several obligations in respect of the Borrower
Obligations of all Borrowers, without the written consent of each Lender; provided further that no such agreement shall
amend, modify or otherwise affect the rights or duties of the Administrative Agent hereunder without the prior written consent
of the Administrative Agent. In addition, notwithstanding anything in this Section to the contrary, if the Administrative Agent
and the Borrowers shall have jointly identified an obvious error or any error or omission of a technical nature, in each case,
in any provision of the Agreement, then the Administrative Agent and the Borrowers shall be permitted to amend such provision,
and, in each case, such amendment shall become effective without any further action or consent of any other party to hereto if
the same is not objected to in writing by the Required Lenders to the Administrative Agent within ten Business Days following receipt
of notice thereof.

Section 10.03   
Expenses; Indemnity; Damage Waiver.

(a)              
The Borrowers shall pay (i) all reasonable, documented out-of-pocket expenses incurred by the Administrative Agent and its
Affiliates in amounts previously agreed to in writing and the reasonable fees, charges and disbursements of counsel for the Administrative
Agent, in connection with the syndication of the credit facilities provided for herein, the preparation and administration of this
Agreement or any amendments, modifications or waivers of the provisions hereof (whether or not the transactions contemplated hereby
or thereby shall be consummated) and (ii) all out-of-pocket expenses incurred by the Administrative Agent or any Lender, including
the fees, charges and disbursements of any counsel for the Administrative Agent or any Lender, in connection with the enforcement
or protection of its rights in connection with this Agreement, including its rights under this Section 10.03, or in connection
with the Loans made, including in connection with any workout, restructuring or negotiations in respect thereof.

(b)              
The Borrowers shall indemnify the Administrative Agent and each Lender, and each Related Party of any of the foregoing Persons
(each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities, costs and related expenses, including the reasonable fees, charges and disbursements of any
counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of
(i) the execution or delivery of this Agreement or any agreement or instrument contemplated hereby, the performance by the parties
hereto of their respective obligations hereunder or the consummation of the Transactions or any other transactions contemplated
hereby, (ii) any Loan or the use of the proceeds therefrom, (iii) any actual or alleged presence or release of Hazardous Materials
on or from any property owned or operated by the Company or any of its Subsidiaries, or any Environmental Liability related in
any way to the Company or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by a
Borrower, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any
Indemnitee, be available to the extent that such losses, claims, damages, liabilities, costs or related expenses are determined
by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful
misconduct of such Indemnitee.

    	 

    	 

    

(c)              
To the extent that the Borrowers fail to pay any amount required to be paid by it to the Administrative Agent under paragraph
(a) or (b) of this Section 10.03, each Lender severally agrees to pay to the Administrative Agent such Lender’s Applicable
Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount;
provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may
be, was incurred by or asserted against the Administrative Agent in its capacity as such.

(d)              
To the extent permitted by applicable law, the Borrowers shall not assert, and hereby waive, any claim against any Indemnitee,
on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising
out of, in connection with, or as a result of, this Agreement or any agreement or instrument contemplated hereby, the Transactions,
any Loan or the use of the proceeds thereof. No Indemnitee referred to in paragraph (b) of this Section 10.03 shall be liable
for any damages, other than for damages that are determined by a court of competent jurisdiction by a final and nonappealable judgment
to have resulted from the gross negligence or willful misconduct of such Indemnitee, arising from the use by unintended recipients
of any information or other materials distributed by it through telecommunications, electronic or other information transmission
systems in connection with this Agreement or any agreement or instrument contemplated hereby or the transactions contemplated hereby
or thereby.

(e)              
All amounts due under this Section 10.03 shall be payable not later than 30 days after written demand therefor accompanied
by documentation reasonably describing the basis for such amounts.

Section 10.04   
Successors and Assigns.

(a)              
The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns permitted hereby, except that the Borrowers may not assign or otherwise transfer any of their rights or
obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by the Borrowers
without such consent shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon
any Person (other than the parties hereto, their respective successors and assigns permitted hereby and, to the extent expressly
contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy
or claim under or by reason of this Agreement.

(b)              
Any Lender may assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including
all or a portion of its Commitment and the Loans at the time owing to it); provided that (i) except in the case of an assignment
to a Lender or an Affiliate of a Lender, each of the Administrative Borrower and the Administrative Agent must give their prior
written consent to such assignment, which consent shall not be unreasonably withheld (it being agreed the Administrative Borrower
shall be deemed to have consented to any assignment to which it has not objected in writing within five Business Days after receipt
of notice thereof), (ii) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire
remaining amount of the assigning Lender’s Commitment, and the Loans at the time owing to it or in the case of an assignment
to a Lender or an Affiliate of a Lender or an

    	 

    	 

    

Approved Fund with respect to a Lender,
the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) shall not be less than $5,000,000
unless each of the Administrative Borrower and the Administrative Agent otherwise consent, (iii) each partial assignment shall
be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement
with respect to the Loan or the Commitment assigned, (iv) the parties to each assignment shall execute and deliver to the
Administrative Agent an Assignment and Acceptance, together with a processing and recordation fee of $3,500 (the obligation to
pay such fee to be shared equally by the assignor and assignee), (v) the assignee, if it shall not be a Lender, shall deliver
to the Administrative Agent an Administrative Questionnaire, (vi) no such assignment shall be made to (A) a Borrower or any of
the Borrowers’ Affiliates or Subsidiaries or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who,
upon becoming a Lender hereunder, would constitute a Defaulting Lender or a Subsidiary thereof, and (vii) no such assignment shall
be made to a natural Person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit
of, a natural Person); provided further that any consent of the Administrative Borrower otherwise required under this paragraph
shall not be required if an Event of Default under clauses (a), (h) or (i) of Article VII has occurred and is continuing.
Upon acceptance and recording pursuant to paragraph (d) of this Section 10.04, from and after the effective date specified
in each Assignment and Acceptance, the assignee thereunder shall be a party hereto and, to the extent of the interest assigned
by such Assignment and Acceptance, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under this Agreement
(and, in the case of an Assignment and Acceptance covering all of the assigning Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Section 2.14,
2.15, 2.16 and 10.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement
that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation
in such rights and obligations in accordance with paragraph (e) of this Section 10.04.

(c)              
The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrowers, shall maintain at one
of its offices a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses
of the Lenders, and the Commitment of, and principal amount (and stated interest) of the Loans owing to, each Lender pursuant to
the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the
Borrowers, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the
terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.

(d)              
Upon its receipt of a duly completed Assignment and Acceptance executed by an assigning Lender and an assignee, the assignee’s
completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation
fee referred to in paragraph (b) of this Section 10.04 and any written consent to such assignment required by paragraph
(b) of this Section 10.04, the Administrative Agent shall accept such Assignment and Acceptance and record the information
contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded
in the Register as provided in this paragraph (d).

    	 

    	 

    

(e)              
Any Lender may, without the consent of the Borrowers or the Administrative Agent, sell participations to one or more banks
or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for
the primary benefit of, a natural Person, or a Borrower or any of the Borrowers’ Affiliates or Subsidiaries) (each, a “Participant”)
in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment
and the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the
Borrowers, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection
with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells
such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment,
modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such
Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first
proviso to Section 10.02(b) that affects such Participant. The Borrowers agree that each Participant shall be entitled to
the benefits of Sections 2.14, 2.15 and 2.16 (subject to the requirements and limitations therein, including
the requirements under Section 2.16(f) (it being understood that the documentation required under Section 2.16(f)
shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment
pursuant to paragraph (b) of this Section 10.04; provided that such Participant (i) agrees to be subject to
the provisions of Sections 2.14 and 2.16 as if it were an assignee under paragraph (b) of this Section 10.04
and (ii) shall not be entitled to receive any greater payment under Sections 2.14 or 2.16, with respect to any
participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive
a greater payment results from an adoption of or any Change in Law or in the interpretation or application thereof or compliance
by any Lender with any request or directive (whether or not having the force of law) from any central bank made subsequent to the
date hereof that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation shall,
acting solely for this purpose as a non-fiduciary agent of the Borrowers, maintain a register on which it enters the name and address
of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other
obligations under this Agreement (the “Participant Register”); provided that no Lender shall have any obligation
to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant or any information
relating to a Participant’s interest in any Commitments, Loans or its other obligations under this Agreement) except to the
extent that such disclosure is necessary to establish that such Commitment, Loan or other obligation is in registered form under
Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent
manifest error, and such Lender shall treat each person whose name is recorded in the Participant Register as the owner of such
participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative
Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.

(f)               
Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement
to secure obligations of such Lender, including without limitation (i) any such pledge or assignment to secure obligations of such
Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and (ii) in the case of any

    	 

    	 

    

Lender that is a Fund, any pledge or
assignment of all or any portion of such Lender’s rights under this Agreement to any holders of obligations owed, or securities
issued, by such Lender as security for such obligations or securities, or to any trustee for, or any other representative of such
holders and this Section 10.04(f) shall not apply to any such pledge or assignment of a security interest; provided
that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute
any such assignee for such Lender as a party hereto.

Section 10.05   
Survival. All covenants, agreements, representations and warranties made by the Borrowers herein and in the certificates
or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by
the other parties hereto and shall survive the execution and delivery of this Agreement and the making of any Loans, regardless
of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent or any Lender
may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder,
and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other
amount payable under this Agreement is outstanding and unpaid and so long as the Commitments have not expired or terminated. The
provisions of Sections 2.14, 2.15, 2.16 and 10.03 and Article VIII shall survive and remain
in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the
expiration or termination of the Commitments or the termination of this Agreement or any provision hereof.

Section 10.06   
Counterparts; Integration; Effectiveness; Electronic Execution.

(a)              
Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute
a single contract. This Agreement and any separate letter agreements with respect to fees payable to the Administrative Agent constitute
the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings,
oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become
effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts
hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon
and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart
of a signature page of this Agreement by facsimile or in electronic format (e.g., “PDF” or “tif” format)
shall be effective as delivery of a manually executed counterpart of this Agreement.

(b)              
Electronic Execution of Assignments. The words “execution,” “signed,” “signature,”
and words of like import in any Assignment and Acceptance shall be deemed to include electronic signatures or the keeping of records
in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature
or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any Applicable Law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

Section 10.07   

    	 

    	 

    

Severability. Any provision of
this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of
the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate
such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section, if and to the extent that
the enforceability of any provision of this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as
determined in good faith by the Administrative Agent or any Swingline Lender, as applicable, then such provision shall be deemed
to be in effect only to the extent not so limited.

Section 10.08   
Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each Affiliate thereof
is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all
deposits (general or special, time or demand, provisional or final) at any time held and other Indebtedness at any time owing by
such Lender or any such Affiliate to or for the credit or the account of the Borrowers against any of and all the obligations of
the Borrowers now or hereafter existing under this Agreement held by such Lender or any Affiliate thereof, irrespective of whether
or not such Lender or any Affiliate thereof shall have made any demand under this Agreement and although such obligations may be
unmatured; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts
so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions
of Section 2.20 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed
held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly
to the Administrative Agent a statement describing in reasonable detail the Borrower Obligations owing to such Defaulting Lender
as to which it exercised such right of setoff . The rights of each Lender under this Section 10.08 are in addition to other
rights and remedies (including other rights of setoff) which such Lender may have.

Section 10.09   
Governing Law; Jurisdiction; Consent to Service of Process.

(a)              
This Agreement shall be construed in accordance with and governed by the law of the State of New York.

(b)              
Each of the Borrowers and the Guarantor hereby irrevocably and unconditionally agrees that it will not commence any action,
litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against
the Administrative Agent, any Lender, or any Related Party of the foregoing in any way relating to this Agreement and submits for
itself and its property in any legal action or proceeding relating to this Agreement, or for recognition and enforcement of any
judgment in respect thereof, to the exclusive jurisdiction of the courts of the State of New York sitting in New York county, the
courts of the United States for the Southern District of New York, and appellate courts from any thereof. Each of the parties hereto
agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Administrative
Agent or any Lender may otherwise have to bring any action or proceeding relating to this Agreement against the Company or its
properties in the courts of any jurisdiction.

    	 

    	 

    

(c)              
Each of the Borrowers and the Guarantor hereby irrevocably and unconditionally waives, to the fullest extent it may legally
and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding
arising out of or relating to this Agreement in any court referred to in paragraph (b) of this Section 10.09. Each of the
parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance
of such action or proceeding in any such court.

(d)              
Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section
10.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner
permitted by law.

Section 10.10   
WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT,
IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE
BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.10.

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

Section 10.12   
Confidentiality.

(a)              
The Borrowers acknowledge that from time to time financial advisory, investment banking and other services may be offered
or provided to the Company or one or more of its Subsidiaries (in connection with this Agreement or otherwise) by any Lender or
by one or more subsidiaries or affiliates of such Lender and the Borrowers hereby authorize each Lender, subject to applicable
federal or state securities laws, to share any information delivered to such Lender by the Company and its Subsidiaries pursuant
to this Agreement, or in connection with the decision of such Lender to enter into this Agreement, to any such subsidiary or affiliate.
Such authorization shall survive the repayment of the Loans, the expiration or termination of the Commitments or the termination
of this Agreement or any provision hereof.

(b)              
Notwithstanding anything to the contrary herein, neither the Lenders nor the Administrative Agent may disclose to any Person
any information that constitutes material non-public information regarding the Company or its securities for purposes of Regulation
FD of the Securities and Exchange Commission or any other federal or state securities laws (it being acknowledged and agreed that
the provisions of this Section 10.12 with respect to such information are reasonably necessary to comply with Regulation
FD and/or such other federal and state securities laws) (such information referred to collectively herein as the “Company
Information”),

    	 

    	 

    

except that the Administrative Agent
and each of the Lenders may disclose Company Information (i) to its and its affiliates’ officers, employees, counsel and
agents (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such
Company Information and instructed to keep such Company Information confidential), (ii) to the extent requested by any regulatory
authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such
as the National Association of Insurance Commissioners), (iii) to the extent required by applicable laws or regulations or by any
subpoena or similar legal process, (iv) to any other party to this Agreement, (v) in connection with the exercise of any remedies
hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder or thereunder, (vi) subject
to an agreement containing provisions substantially the same as those of this paragraph, to any assignee of or Participant in,
or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or to any direct or indirect
contractual counterparties or prospective contractual counterparties in swap agreements or such contractual counterparties’
professional advisors, (vii) on a confidential basis to (A) any rating agency in connection with rating the Company or
any Subsidiary or (B) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP
numbers, (viii) to the extent such Company Information (A) is or becomes generally available to the public on a non-confidential
basis through no fault or action by any of the Lenders or the Administrative Agent, or (B) is or becomes available to such Lenders
or the Administrative Agent on a nonconfidential basis from a source other than the Company and (ix) with the consent of the
Company. In addition, the Administrative Agent and the Lenders may disclose the existence of this Agreement and information about
this Agreement to market data collectors, similar service providers to the lending industry and service providers to the Administrative
Agent and the Lenders in connection with the administration of this Agreement, the documents contemplated hereby and the Commitments.

Section 10.13   
Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable
to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law
(collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which
may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law,
the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be
limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such
Loan but were not payable as a result of the operation of this Section 10.13 shall be cumulated and the interest and Charges
payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until
such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have
been received by such Lender.

Section 10.14   
Additional Borrowers. The Company may, upon 10 Business Days’ prior written notice to the Administrative Agent
and the Lenders, designate any wholly-owned Subsidiary that is organized under the laws of the United States, any state thereof
or the District of Columbia as an additional Borrower under the Commitments (an “Additional Borrower”). Such
Subsidiary shall become an Additional Borrower and a party to this Agreement upon the receipt by the Administrative Agent (and
each Lender, in the case of the following clause (iv) only) of (i) a joinder agreement, in form and substance reasonably satisfactory
to the Administrative Agent,

    	 

    	 

    

executed by such Subsidiary and the
Company, (ii) an acknowledgement and confirmation by the Guarantor of its guarantee in respect of the Borrower Obligations of such
Subsidiary, (iii) corporate or other applicable resolutions, other corporate or other applicable documents, certificates and
legal opinions in respect of such Subsidiary as the Administrative Agent may reasonably request and (iv) such other documents or
information with respect thereto (including all documentation and other information required under applicable “know your
customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed
into law October 26, 2001))) (the “Patriot Act”) as the Administrative Agent or any Lender may reasonably request.
The Company and any Additional Borrowers hereunder shall be jointly and severally, unconditionally and irrevocably, liable for
the prompt and complete payment and performance of the Borrower Obligations. The Company and any Additional Borrowers each acknowledges
and agrees that the provisions of Article VIII applicable to the Guarantor shall apply to each Borrower, mutatis mutandis,
with respect to the Borrower Obligations of the other Borrowers.

Section 10.15   
USA Patriot Act. Each Lender hereby notifies the Borrowers that pursuant to the requirements of the Patriot Act,
it is required to obtain, verify and record information that identifies the Borrowers, which information includes the name and
address of the Borrowers and other information that will allow such Lender to identify the Borrowers in accordance with the Patriot
Act.

Section 10.16   
No Fiduciary or Advisory Responsibility. In connection with all aspects of each transaction contemplated hereby (including
in connection with any amendment, waiver or other modification hereof or of any document contemplated hereby), each of the Borrowers
and the Guarantor acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (i) (A) the arranging
and other services regarding this Agreement provided by the Administrative Agent, the arrangers and the Lenders are arm’s-length
commercial transactions between the Borrowers, the Guarantor and their respective Affiliates, on the one hand, and the Administrative
Agent, the arrangers and the Lenders, on the other hand, (B) each of the Borrowers and the Guarantor has consulted its own
legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) each of the Borrowers and
the Guarantor is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated
hereby and by the documents contemplated hereby; (ii) (A) the Administrative Agent, the arrangers and each Lender is
and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is
not, and will not be acting as an advisor, agent or fiduciary for the Borrowers, the Guarantor or any of their respective Affiliates,
or any other Person and (B) neither the Administrative Agent, the arrangers nor any Lender has any obligation to the Borrowers,
the Guarantor or any of their respective Affiliates with respect to the transactions contemplated hereby except those obligations
expressly set forth herein and in the documents contemplated hereby; and (iii) the Administrative Agent, the arrangers and
the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ
from those of the Borrowers, the Guarantor and their respective Affiliates, and neither the Administrative Agent, the arrangers
nor any Lender has any obligation to disclose any of such interests to the Borrowers, the Guarantor or any of their respective
Affiliates. To the fullest extent permitted by law, each of the Borrowers and the Guarantor hereby waives and releases any claims
that it may have against the Administrative Agent, the arrangers or any Lender with respect

    	 

    	 

    

to any breach or alleged breach of agency
or fiduciary duty in connection with any aspect of any transaction contemplated hereby.

Section 10.17   
Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in
this Agreement or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that
any liability of any EEA Financial Institution arising under or in connection with this Agreement, any other documents or instruments
delivered pursuant hereto or the Transactions governed hereby, to the extent such liability is unsecured, may be subject to the
write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound
by:

(a)              
the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder
that may be payable to it by any party hereto that is an EEA Financial Institution; and

(b)              
the effects of any Bail-In Action on any such liability, including, if applicable:

(i)                
a reduction in full or in part or cancellation of any such liability;

(ii)             
a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such
shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under
this Agreement or any other agreement, arrangement or understanding among any of the parties; or

(iii)           
the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of
any EEA Resolution Authority.

Section 10.18   
Certain ERISA Matters.

(a)              
Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants,
from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit
of, the Administrative Agent and the arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for
the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true:

(i)                
such Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section
3(42) of ERISA) of one or more Plans in connection with the Loans or the Commitments,

(ii)             
the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined
by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance
company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts),
PTE 91-38 (a class

    	 

    	 

    

exemption for certain transactions
involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset
managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance
of the Loans, the Commitments and this Agreement,

(iii)           
(A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning
of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to
enter into, participate in, administer and perform the Loans, the Commitments and this Agreement, (C) the entrance into, participation
in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections
(b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part
I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance
of the Loans, the Commitments and this Agreement, or

(iv)            
such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole
discretion, and such Lender.

(b)              
In addition, unless sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or such Lender
has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause
(a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants,
from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit
of, the Administrative Agent, the arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the
benefit of the Borrower or any other Loan Party, that:

(i)                
none of the Administrative Agent or the arrangers or any of their respective Affiliates is a fiduciary with respect to the
assets of such Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under
this Agreement or the documents contemplated hereby),

(ii)             
the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in,
administration of and performance of the Loans, the Commitments and this Agreement is independent (within the meaning of 29 CFR
§ 2510.3-21) and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person that holds, or has
under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E),6

(iii)           
the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in,
administration of and performance of the Loans, the Commitments and this Agreement is capable of evaluating investment risks independently,
both in general and with regard to particular transactions and investment strategies (including in respect of the Borrower Obligations),

    	 

    	 

    

(iv)            
the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in,
administration of and performance of the Loans, the Commitments and this Agreement is a fiduciary under ERISA or the Code, or both,
with respect to the Loans, the Commitments and this Agreement and is responsible for exercising independent judgment in evaluating
the transactions hereunder, and

(v)              
no fee or other compensation is being paid directly to the Administrative Agent, the arrangers or any their respective Affiliates
for investment advice (as opposed to other services) in connection with the Loans, the Commitments or this Agreement.

(c)              
The Administrative Agent and the arrangers hereby inform the Lenders that each such Person is not undertaking to provide
impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby,
and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof
(i) may receive interest or other payments with respect to the Loans, the Commitments and this Agreement, (ii) may recognize a
gain if it extended the Loans or the Commitments for an amount less than the amount being paid for an interest in the Loans or
the Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby,
the this Agreement, the documents contemplated hereby, or otherwise, including structuring fees, commitment fees, arrangement fees,
facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization
fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing
fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing.

Section 10.19   
Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is made to the Administrative
Agent or any Lender, or the Administrative Agent or any Lender exercises its right of setoff, and such payment or the proceeds
of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required
(including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to
a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to
the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued
in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender severally agrees
to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid
by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per
annum equal to the Federal Funds Effective Rate from time to time in effect.

Section 10.20   
Limitation on Liability. The Guarantor’s Declaration of Trust is on file with the Secretary of the Commonwealth
of Massachusetts.  This Agreement is executed on behalf of the Guarantor by the Guarantor’s officers as officers and
not individually and the obligations imposed upon the Guarantor by this Agreement are not binding upon any of the Guarantor’s
trustees, officers, directors, shareholders, beneficiaries or other equity holders individually but are binding only upon the assets
and property of the Guarantor.

 

    	 

    	 

    

[Signature Pages Follow]

    	 

    	 

    

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

EATON VANCE CORP.

		By:	/s/ Laurie G. Hylton

Name:Laurie G. Hylton

		Title:	Vice President and Chief Financial Officer

EATON VANCE MANAGEMENT

		By:	/s/ Pierric G. Senay

		Name:	Pierric G. Senay

		Title:	Vice President and Treasurer

    	 

    	 

    

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent and a Lender

		By:	/s/ Grainne M. Pergolini

		Name:	Grainne M. Pergolini

		Title:	Managing Director

    	 

    	 

    

 

 

 

CITIBANK, N.A., as a Lender

		By:	/s/ Maureen Maroney

		Name:	Maureen Maroney

		Title:	Vice President

 

BANK OF AMERICA, N.A., as a Lender

		By:	/s/ Matthew C. White

		Name:	Matthew C. White

		Title:	Director

 

MORGAN STANLEY BANK, N.A., as a Lender

		By:	/s/ Michael King

		Name:	Michael King

		Title:	Authorized Signatory

 

PNC BANK, NATIONAL ASSOCIATION, as a Lender

		By:	/s/ Paul Gleason

		Name:	Paul Gleason

		Title:	Vice President

 

THE BANK OF NEW YORK MELLON, as a Lender

		By:	/s/ Joanne Carey

		Name:	Joanne Carey

		Title:	Vice President

 

    	 

    	 

    

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender

		By:	/s/ Doreen Barr

		Name:	Doreen Barr

		Title:	Authorized Signatory

 

		By:	/s/ Brady Bingham

		Name:	Brady Bingham

		Title:	Authorized Signatory

 

ROYAL BANK OF CANADA, as a Lender

		By:	/s/ Alex Figueroa

		Name:	Alex Figueroa

		Title:	Authorized Signatory

 

STATE STREET BANK AND TRUST COMPANY, as a Lender

		By:	/s/ Mary H. Casey

		Name:	Mary H. Casey

		Title:	Vice President

    	 

    	 

    

Annex A

PRICING GRID

	 	Level 1	Level 2	Level 3	Level 4	Level 5
	Rating:	A+/A1

or higher	A/A2	A-/A3	BBB+/Baa1	BBB/Baa2

or lower
	ABR Loans’

Applicable Margin	0.000%	0.000%	0.000%	0.100%	0.300%
	Eurodollar Loans’

Applicable Margin	0.795%	0.900%	1.000%	1.100%	1.300%
	Facility Fee Rate	0.080%	0.100%	0.125%	0.150%	0.200%

For purposes of determining the
Applicable Margins or the Facility Fee Rates, (i) as long as the Guarantor is serving as a guarantor, the Applicable Margins and
Facility Fee Rates shall be based on the ratings of the Company and Guarantor, and the one with the higher ratings shall be applicable,
(ii) in the event that more than one Level is applicable due to different ratings by Moody’s and S&P, then the higher
of such ratings shall determine the Applicable Level, (iii) if Moody’s or S&P shall not have in effect a rating
because such rating agency shall no longer be in the business of rating corporate debt obligations, then such rating agency will
be deemed to have established a rating one rating level lower than the rating of either Moody’s or S&P, as the case may
be, that remains in effect, (iv) in the event that the ratings are such that no Level shall be applicable (other than for the reason
set forth in (iii) above), then Level 4 shall be deemed applicable, (v) the Applicable Margins and the Facility Fee Rates
shall be subject to adjustment (upwards or downwards, as appropriate), effective as of the date on which S&P or Moody’s
announces a rating change which results in a change in the Applicable Margins and the Facility Fee Rates.

    	 

    	 

    

SCHEDULE 2.01

COMMITMENTS

	Lender	Commitment
	Wells Fargo Bank, National Association	$38,000,000.00
	Citibank, N.A.	$38,000,000.00
	Bank of America, N.A.	$32,000,000.00
	Credit Suisse AG, Cayman Islands Branch	$32,000,000.00
	Morgan Stanley Bank, N.A.	$32,000,000.00
	PNC Bank, National Association	$32,000,000.00
	Royal Bank of Canada	$32,000,000.00
	State Street Bank and Trust Company	$32,000,000.00
	The Bank of New York Mellon	$32,000,000.00
	Total	$300,000,000.00

    	 

    	 

    

SCHEDULE 3.06

DISCLOSED MATTERS

None

    	 

    	 

    

SCHEDULE 3.08

INVESTMENT AND HOLDING COMPANY
STATUS

	Subsidiary	Regulator
	Eaton Vance Advisers (Ireland) Limited	Central Bank of Ireland
	Eaton Vance Distributors, Inc.	
        U.S. Securities and Exchange Commission

        Financial Industry Regulatory Authority

	Eaton Vance Management International (Asia) Pte. Ltd.	Monetary Authority of Singapore
	Eaton Vance Management (International) Limited	U.K. Financial Conduct Authority
	Eaton Vance Trust Company	State of Maine Bureau of Financial Services
	Eaton Vance Advisers International Ltd.	U.K. Financial Conduct Authority
	Eaton Vance Asia Pacific Ltd.  	Japan Financial Services Agency

 

    	 

    	 

    

SCHEDULE 3.13

SUBSIDIARIES

	Subsidiaries	Jurisdiction of

Organization	Owner of Equity

Interests in Subsidiary	Percentage

Ownership Interest/

Class of Interests
	Eaton Vance Acquisitions

(Partnership)	Delaware	Eaton Vance Corp.

Eaton Vance, Inc.	99.9%/Partnership Interests

0.10%/Partnership Interests
	Eaton Vance Management

(Business Trust).	Massachusetts	Eaton Vance Corp.	100%/Beneficial Interests
	Eaton Vance, Inc.

(Corporation)	Massachusetts	Eaton Vance Corp.	100%/Common Stock
	Eaton Vance Distributors, Inc.

(Corporation)	Massachusetts	Eaton Vance Corp.	100%/Common Stock
	Boston Management and Research

(Business Trust)	Massachusetts	Eaton Vance Management

Eaton Vance Investment Counsel	99.9%/Beneficial Interests

0.10%/Beneficial Interests
	Eaton Vance Investment Counsel

(Business Trust)	Massachusetts	Eaton Vance Corp.	100%/Beneficial Interests
	Atlanta Capital Management

Company, LLC

(Limited Liability Company)	Delaware	Eaton Vance Acquisitions	99.92%/Membership Interests
	Fox Asset Management LLC

(Limited Liability Company)	Delaware	Eaton Vance Acquisitions	100%/Membership Interests
	Parametric Portfolio Associates LLC

(Limited Liability Company)	Delaware	Eaton Vance Acquisitions	92.14%/Membership Interests
	Parametric Risk Advisors LLC

(Limited Liability Company)	Delaware	Parametric Portfolio Associates	100%/Membership Interests
	Nextshares Solutions LLC

(Limited Liability Company)	Delaware	Eaton Vance Corp.	100%/Membership Interests
	Eaton Vance Real Estate Management

(Business Trust)	Massachusetts	Eaton Vance Corp.	100%/Beneficial Interests
	EVA Holdings, LLC

(Limited Liability Company)	Delaware	Eaton Vance Acquisitions	100%/Membership Interests
	Parametric Portfolio, L.P.

(Limited Partnership)	Delaware	EVA Holdings, LLC	90.18%/Partnership Interests
	Atlanta Capital, L.P.

(Limited Partnership)	Delaware	EVA Holdings, LLC	100%/Partnership Interests
	Eaton Vance Trust Company

(Corporation)	Maine	Eaton Vance Corp.	100%/Common Stock
	
        Eaton Vance Global Management LLC

        (Limited Liability Company)
	Massachusetts	Eaton Vance Corp.

Eaton Vance, Inc.	95%/ Membership Interests

5%/ Membership Interests

    	 

    	 

    

 

	
        Calvert Research and Management

        (business Trust)

         
	Massachusetts	Eaton Vance Management	100%/Membership Interests

 

	Foreign Subsidiaries	Jurisdiction of

Organization	Owner of Equity

Interests in Subsidiary	Percentage

Ownership Interest/

Class of Interests
	Eaton Vance Advisers (Ireland) Limited

(Limited Company)	Ireland	Eaton Vance Management	100%/Equity Interests
	Eaton Vance Management Canada Ltd.

(Limited Company)	Canada	Eaton Vance Management	100%/ Equity Interests
	Eaton Vance Management International (Asia) Pte Ltd.

(Private Company Limited by Shares)	Singapore	Eaton Vance Management

(International) Limited	100%/Shares
	Eaton Vance Management (International) Limited

(Limited Company)	United Kingdom	
        Eaton Vance Management

        Eaton Vance, Inc.
	
        98.04%/Equity Interests

        1.96%/Equity Interests

	
        Eaton Vance Australia Pty. Ltd.

        (Proprietary Limited Company)
	Australia	Eaton Vance Management	100%/Equity Interests
	
         

        Hexavest Inc.

        (Corporation)
	Canada	Eaton Vance Management Canada Ltd.	49% Equity Interest
	
         

        Eaton Vance Advisers International Ltd.

        (Limited Company)
	
         

        England and Wales
	Eaton Vance Management	100%/Equity Interests
	
         

        Eaton Vance Asia Pacific Ltd.

        (Exempt Limited Company)
	
         

        Cayman Islands
	Eaton Vance Management	100%/Equity Interests
	 	 	 	 

 

    	 

    	 

    

SCHEDULE 6.02

EXISTING INDEBTEDNESS

None

    	 

    	 

    

 

SCHEDULE 6.03

EXISTING LIENS

None

    	 

    	 

    

EXHIBIT A

FORM OF

ASSIGNMENT AND ACCEPTANCE

Reference is made
to the Credit Agreement, dated as of December 11, 2018 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Eaton Vance Corp. (the “Company”), the Lenders party thereto and Wells Fargo Bank,
National Association, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in
the Credit Agreement.

The Assignor identified
on Schedule l hereto (the “Assignor”) and the Assignee identified on Schedule l hereto (the “Assignee”)
agree as follows:

The Assignor
hereby irrevocably sells and assigns to the Assignee without recourse to the Assignor, and the Assignee hereby irrevocably purchases
and assumes from the Assignor without recourse to the Assignor, as of the Effective Date (as defined below), (1) the interest described
in Schedule 1 hereto in and to the Assignor’s rights and obligations under the Credit Agreement, including, without limitation,
the amounts and percentages set forth below of (i) the Commitments of the Assignor on the Effective Date set forth below and (ii)
the Loans owing to the Assignor which are outstanding on the Effective Date ((i) and (ii) above collectively referred to as the
“Assigned Commitment”) and (2) to the extent permitted to be assigned under applicable law, all claims, suits,
causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown,
arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the
loan transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims,
malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned
pursuant to clause (1) above (the rights and obligations sold and assigned pursuant to clauses (1) and (2) above being referred
to herein collectively as the “Assigned Interest”).

The Assignor
(a) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations
made in or in connection with the Credit Agreement or with respect to the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Credit Agreement or any other instrument or document furnished pursuant thereto, other than that the
Assignor has not created any adverse claim upon the interest being assigned by it hereunder and that such interest is free and
clear of any such adverse claim; (b) makes no representation or warranty and assumes no responsibility with respect to the financial
condition of the Company, any of its Subsidiaries or any other obligor or the performance or observance by the Company, any of
its Subsidiaries or any other obligor of any of their respective obligations under the Credit Agreement or any other instrument
or document furnished pursuant hereto or thereto; and (c) attaches any promissory notes held by it evidencing the Assigned Commitment
and (i) requests that the Administrative Agent, upon request by the Assignee, exchange the attached promissory notes for a new
promissory note or notes payable to the

    	 

    	 

    

Assignee and (ii) if the
Assignor has retained any interest in the Assigned Commitment, requests that the Administrative Agent exchange the attached promissory
notes for a new promissory note or notes payable to the Assignor, in each case in amounts which reflect the assignment being made
hereby (and after giving effect to any other assignments which have become effective on the Effective Date). The Assignor represents
and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear
of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary,
to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby.

The Assignee
(a) represents and warrants that it is legally authorized to enter into this Assignment and Acceptance; (b) confirms that it has
received a copy of the Credit Agreement, together with copies of the financial statements delivered pursuant to Section 3.04 thereof
and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into
this Assignment and Acceptance; (c) agrees that it will, independently and without reliance upon the Assignor, the Administrative
Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make
its own credit decisions in taking or not taking action under the Credit Agreement or any other instrument or document furnished
pursuant hereto or thereto; (d) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and
to exercise such powers and discretion under the Credit Agreement or any other instrument or document furnished pursuant hereto
or thereto as are delegated to the Administrative Agent by the terms thereof, together with such powers as are incidental thereto;
(e) represents and warrants that attached to the Assignment and Assumption is any documentation required to be delivered by it
pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (f) agrees that it will be bound
by the provisions of the Credit Agreement and will perform in accordance with its terms all the obligations which by the terms
of the Credit Agreement are required to be performed by it as a Lender including its obligation pursuant to Section 2.16 of the
Credit Agreement.

The effective
date of this Assignment and Acceptance shall be the Effective Date of Assignment described in Schedule 1 hereto (the “Effective
Date”). Following the execution of this Assignment and Acceptance, it will be delivered to the Administrative Agent for
acceptance by it and recording by the Administrative Agent pursuant to the Credit Agreement, effective as of the Effective Date
(which shall not, unless otherwise agreed to by the Administrative Agent, be earlier than five Business Days after the date of
such acceptance and recording by the Administrative Agent).

Upon such
acceptance and recording, from and after the Effective Date, the Administrative Agent shall make all payments in respect of the
Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued
to the Effective Date but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective
Date. The Assignor and the Assignee shall make all appropriate adjustments in payments by the Administrative Agent for periods
prior to the Effective Date or with respect to the making of this assignment directly between themselves.

    	 

    	 

    

From and after
the Effective Date, (a) the Assignee shall be a party to the Credit Agreement and, to the extent provided in this Assignment and
Acceptance, have the rights and obligations of a Lender thereunder and shall be bound by the provisions thereof and (b) the Assignor
shall, to the extent provided in this Assignment and Acceptance, relinquish its rights and be released from its obligations under
the Credit Agreement.

This Assignment
and Acceptance shall be governed by and construed in accordance with the laws of the State of New York

IN WITNESS WHEREOF,
the parties hereto have caused this Assignment and Acceptance to be executed as of the date first above written by their respective
duly authorized officers on Schedule 1 hereto.

    	 

    	 

    

Schedule 1

to Assignment and Acceptance

Name of Assignor: ________________________

Name of Assignee: ________________________

Effective Date of Assignment: ________________________

	
        Commitment

        Assigned
	
        Principal

        Amount Assigned
	Commitment Percentage Assigned[1]
	 	$__________	__.________%

 

 

 

	
        [Name of Assignee]

        By:

        Title:
	
        [Name of Assignor]

        By:

        Title:

	
        Accepted:

        WELLS FARGO BANK, NATIONAL ASSOCIATION,

        as Administrative Agent

        By:

        Title:
	
        Consented To:

        EATON VANCE CORP.[2]

        By:

        Title:

    	 

    	 

    

EXHIBIT B

FORM OF

BORROWING REQUEST

Wells Fargo Bank, National Association,

as Administrative Agent

1525 W. W.T. Harris Blvd.

Charlotte, North Carolina 28262

Attention: Syndication Agency Services

[Date]

Ladies and Gentlemen:

Reference is made
to the Credit Agreement dated as of December 11, 2018 (as amended and in effect on the date hereof, the “Credit Agreement”),
among the undersigned, as the Administrative Borrower, the Lenders named therein, and Wells Fargo Bank, National Association, as
Administrative Agent. Terms defined in the Credit Agreement are used herein with the same meanings. This notice constitutes a Borrowing
Request and the Administrative Borrower hereby requests a Borrowing under the Credit Agreement, and in that connection the Administrative
Borrower specifies the following information with respect to the Borrowing requested hereby:

(A)       Aggregate
amount of requested Borrowing:[3] ___________

(B)       Date
of the requested Borrowing:[4]

(C)       Type
of Borrowing:[5]

(D)       Interest
Period:[6]

    	 

    	 

    

(E)       Location
and number of the relevant Borrower’s account to which proceeds of Borrowing are to be disbursed:

(F)       The
Administrative Borrower hereby represents and warrants to the Administrative Agent and the Lenders that the proceeds of the requested
Borrowing will be used in a manner consistent with the terms of the Credit Agreement.

The Administrative
Borrower hereby represents and warrants that the conditions specified in paragraphs (a) and (b) of Section 4.02 of the Credit Agreement
have been satisfied in all respects.

Very truly yours,

		By:	

		Name:	

		Title:	

    	 

    	 

    

EXHIBIT C

FORM OF

INTEREST ELECTION REQUEST

Wells Fargo Bank, National Association,

as Administrative Agent

1525 W. W.T. Harris Blvd.

Charlotte, North Carolina 28262

Attention: Syndication Agency Services

[Date]

Ladies and Gentlemen:

Reference is made
to the Credit Agreement dated as of December 11, 2018 (as amended and in effect on the date hereof, the “Credit Agreement”),
among the undersigned, as the Administrative Borrower, the Lenders named therein, and Wells Fargo Bank, National Association, as
Administrative Agent. Terms defined in the Credit Agreement are used herein with the same meanings. This notice constitutes an
Interest Election Request under the Credit Agreement, and the Administrative Borrower hereby requests that the Borrowings referred
to herein be of the Type and, if applicable, Interest Period set forth herein, and in that connection the Administrative Borrower
specifies the following information with respect to the Borrowing designated herein:

(A)       Borrowing
to which this Interest Election Request applies:[7]

(B)       Effective
date of this Interest Election Request:[8]

(C)       Type
of Borrowing after the effective date of this Interest Election Request:[9]

(D)       Interest
Period:[10]

    	 

    	 

    

The Administrative
Borrower hereby represents and warrants that the conditions specified in paragraphs (a) and (b) of Section 4.02 of the Credit Agreement
have been satisfied in all respects.

Very truly yours,

		By:	

		Name:	

		Title:	

    	 

    	 

    

EXHIBIT D

FORM OF

OPINION OF COUNSEL OF THE BORROWER

[Provided separately]

    	 

    	 

    

EXHIBIT E-1

[FORM OF]

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Lenders That Are Not Partnerships
For U.S. Federal Income Tax Purposes)

Reference is hereby
made to the Credit Agreement dated as of December 11, 2018 (as amended, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among Eaton Vance Corp. (the “Administrative Borrower”), the Lenders
party thereto and Wells Fargo Bank, National Association, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”).

Pursuant to the
provisions of Section 2.16 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial
owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii)
it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of any Borrower
within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to any
Borrower as described in Section 881(c)(3)(C) of the Code.

The undersigned
has furnished the Administrative Agent and the Administrative Borrower with a certificate of its non-U.S. Person status on IRS
Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes,
the undersigned shall promptly so inform the Administrative Borrower and the Administrative Agent, and (2) the undersigned shall
have at all times furnished the Administrative Borrower and the Administrative Agent with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar
years preceding such payments.

Unless otherwise
defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

[NAME OF LENDER]

		By:	

		Name:	

		Title:	

Date: ____________ __, 20[__]

    	 

    	 

    

EXHIBIT E-2

[FORM OF]

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Participants That Are Not
Partnerships For U.S. Federal Income Tax Purposes)

Reference is hereby
made to the Credit Agreement dated as of December 11, 2018 (as amended, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among Eaton Vance Corp. (the “Administrative Borrower”), the Lenders
party thereto and Wells Fargo Bank, National Association, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”).

Pursuant to the
provisions of Section 2.16 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial
owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section
881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of any Borrower within the meaning of Section 871(h)(3)(B)
of the Code, and (iv) it is not a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of
the Code.

The undersigned
has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN or any successor thereto,
including IRS Form W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the information provided on
this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at
all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which
each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.

Unless otherwise
defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

[NAME OF PARTICIPANT]

		By:	

		Name:	

		Title:	

Date: ____________ __, 20[__]

    	 

    	 

    

EXHIBIT E-3

[FORM OF]

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Participants That Are Partnerships
For U.S. Federal Income Tax Purposes)

Reference is hereby
made to the Credit Agreement dated as of December 11, 2018 (as amended, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among Eaton Vance Corp. (the “Administrative Borrower”), the Lenders
party thereto and Wells Fargo Bank, National Association, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”).

Pursuant to the
provisions of Section 2.16 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the
participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial
owners of such participation, (iii) with respect such participation, neither the undersigned nor any of its direct or indirect
partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business
within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder
of any Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members
is a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code.

The undersigned
has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members
that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or any successor thereto, including IRS Form W-8BEN-E,
or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or any successor thereto, including IRS Form W-8BEN-E, from each of
such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate,
the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform
such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar
years preceding such payments.

Unless otherwise
defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

[NAME OF PARTICIPANT]

		By:	

		Name:	

		Title:	

Date: ____________ __, 20[__]

    	 

    	 

    

EXHIBIT E-4

[FORM OF]

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Lenders That Are Partnerships
For U.S. Federal Income Tax Purposes)

Reference is hereby
made to the Credit Agreement dated as of December 11, 2018 (as amended, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among Eaton Vance Corp. (the “Administrative Borrower”), the Lenders
party thereto and Wells Fargo Bank, National Association, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”).

Pursuant to the
provisions of Section 2.16 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the
Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct
or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii)
with respect to the extension of credit pursuant to the Credit Agreement or the documents contemplated thereby, neither the undersigned
nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the
ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or
indirect partners/members is a ten percent shareholder of any Borrower within the meaning of Section 871(h)(3)(B) of the Code and
(v) none of its direct or indirect partners/members is a controlled foreign corporation related to any Borrower as described in
Section 881(c)(3)(C) of the Code.

The undersigned
has furnished the Administrative Agent and the Administrative Borrower with IRS Form W-8IMY accompanied by one of the following
forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or any successor
thereto, including IRS Form W-8BEN-E, or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or any successor thereto,
including IRS Form W-8BEN-E, from each of such partner’s/member’s beneficial owners that is claiming the portfolio
interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, the undersigned shall promptly so inform the Administrative Borrower and the Administrative Agent, and (2) the undersigned
shall have at all times furnished the Administrative Borrower and the Administrative Agent with a properly completed and currently
effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two
calendar years preceding such payments.

    	 

    	 

    

Unless otherwise
defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

[NAME OF LENDER]

		By:	

		Name:	

		Title:	

Date: ____________ __, 20[__]

 

		[1]	Calculate the Commitment Percentage that is assigned to at least 15 decimal places and show as
a percentage of the aggregate commitments of all Lenders.

		[2]	The Borrower’s consent may not be required pursuant to subsection 10.04 of the Credit Agreement.

		[3]	Amount inserted to be no greater than the aggregate Commitments of the Lenders less the aggregate
Used Commitments of the Lenders as of such date. Such Borrowing shall be in an aggregate amount that is an integral multiple of
$1,000,000 and not less than $5,000,000. Borrowings of more than one Type may be outstanding at the same time; provided
that there shall not at any time be more than a total of ten (10) Eurodollar Borrowings outstanding at any time.

		[4]	Must be a Business Day.

		[5]	Please specify either Eurodollar Borrowing or ABR Borrowing.  If this part is left blank,
the request will be treated as a request for an ABR Borrowing.

		[6]	Only applicable for Eurodollar Borrowings. Must be a period contemplated by the definition of the
term “Interest Period”. If no Interest Period is specified, then the Administrative Borrower will be deemed to have
selected an Interest Period of one month.

		[7]	If different options are being elected with respect to different portions thereof, please specify
the portions thereof to be allocated to each resulting Borrowing.

		[8]	Must be a Business Day.

		[9]	Please specify either Eurodollar Borrowing or ABR Borrowing. If this part is left blank, the request
will be treated as a request for an ABR Borrowing. If different options are being elected with respect to different portions of
a Borrowing, please specify the Type of Borrowing for each resulting Borrowing.

		[10]	Only applicable for Eurodollar Borrowings. Must be a period contemplated by the definition of the
term “Interest Period”. If no Interest Period is specified, then the Administrative Borrower will be deemed to have
selected an Interest Period of one month. If different options are being elected with respect to different portions of a Borrowing,
please specify the Interest Period for each resulting Borrowing.

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