Document:

USD50,000,000 Facility Agreement

 Exhibit 10.27 
 EXECUTION VERSION 
  
 

         
 Dated 1 March 2013 

(with effect from 25 February 2013) 
 Facility Agreement 
 USD50,000,000 

between 

Central European Distribution Corporation 
 as Borrower 
 and 

Roust Trading Ltd 
 as Lender 
 White & Case LLP 

5 Old Broad Street 

London EC2N 1DW 

							
	1.	 	 Definitions and Interpretation
	  	 	2	  
			
	2.	 	 The Facility
	  	 	10	  
			
	3.	 	 Purpose
	  	 	10	  
			
	4.	 	 Conditions of Conversion
	  	 	10	  
			
	5.	 	 Repayment
	  	 	11	  
			
	6.	 	 Prepayment and Cancellation
	  	 	11	  
			
	7.	 	 Interest
	  	 	12	  
			
	8.	 	 Tax Gross-up and Indemnities
	  	 	13	  
			
	9.	 	 Other Indemnities
	  	 	18	  
			
	10.	 	 Mitigation by the Lenders
	  	 	18	  
			
	11.	 	 Costs and Expenses
	  	 	19	  
			
	12.	 	 Guarantee and Indemnity
	  	 	20	  
			
	13.	 	 Representations
	  	 	24	  
			
	14.	 	 Information Undertakings
	  	 	26	  
			
	15.	 	 General Undertakings
	  	 	26	  
			
	16.	 	 Events of Default
	  	 	27	  
			
	17.	 	 Assignments and Transfers by the Lender
	  	 	31	  
			
	18.	 	 Register
	  	 	31	  
			
	19.	 	 Changes to the Obligors
	  	 	31	  
			
	20.	 	 Calculations and Certificates
	  	 	34	  
			
	21.	 	 Partial Invalidity
	  	 	35	  
			
	22.	 	 Remedies and Waivers
	  	 	35	  
			
	23.	 	 Amendments and Waivers
	  	 	35	  
			
	24.	 	 Confidentiality
	  	 	35	  
			
	25.	 	 Counterparts
	  	 	38	  
			
	26.	 	 Restructuring Reservation of Rights
	  	 	38	  
			
	27.	 	 Governing Law
	  	 	39	  
			
	28.	 	 Enforcement
	  	 	39	  

							
			
	Schedule 1	 	 The Obligors
	  	 	40	  
		 	 The Original Obligors
	  	 	40	  
			
	Schedule 2	 	 Conditions Precedent
	  	 	41	  
	Part 1	 	 Conditions Precedent to Conversion
	  	 	41	  
	Part 2	 	 Conditions Precedent Required to be Delivered by an Additional Guarantor
	  	 	42	  
	Part 3	 	 Conditions Subsequent
	  	 	43	  
			
	Schedule 3	 	 Form of Accession Letter
	  	 	45	  
			
	Schedule 4	 	 Obligations on Granting of Pledge Under Agreements on Pledge of Goods in Circulation
	  	 	46	  

 White & Case LLP 

5 Old Broad Street 

London EC2N 1DW 

 This Agreement is dated 1 March 2013 (with effect from 25 February 2013) and is made
between: 
  

	(1)	Central European Distribution Corporation (the “Borrower”); 

 

	(2)	The Subsidiaries of the Borrower listed in Schedule 1 (The Obligors) as original guarantors (the “Original Guarantors”); and

  

	(3)	Roust Trading Ltd (the “Lender”). 

 It is agreed as follows: 
 Section 1 

Interpretation 
  

	1.	Definitions and Interpretation 

  

	1.1	Definitions 

 In this
Agreement: 
 “Accession Letter” means a document substantially in the form set out in Schedule 3 (Form of
Accession Letter). 
 “Additional Guarantor” means a company which becomes a Guarantor in accordance with
Clause 19 (Changes to the Obligors). 
 “Affiliate” means, in relation to any person, a Subsidiary of
that person or a Holding Company of that person or any other Subsidiary of that Holding Company. 

“Authorisation” means an authorisation, consent, approval, resolution, licence, exemption, filing, notarisation or
registration. 
 “Bank Levy” means the UK Tax known as the bank levy, introduced by the United Kingdom Finance
Act 2011, in such form as it may be imposed and/or modified from time to time, and any other Tax of a similar nature in any other jurisdiction. 
 “Bankruptcy Law” means Federal Law of the Russian Federation No. 127-FZ dated 26 October 2010 “On Insolvency (Bankruptcy)” as amended from time to time. 

“Business Day” means a day (other than a Saturday or Sunday) on which banks are open for general business in London, New
York, Moscow and Warsaw. 
 “Charged Property” means all of the assets of the Obligors and the Security Provider
which from time to time are, or are expressed to be, the subject of Transaction Security. 
 “Commitment” means
USD50,000,000, to the extent not cancelled or reduced under this Agreement. 

  
 2 

 “Confidential Information” means all information relating to any Obligor,
any member of the Group, the Finance Documents or the Facility which is received or has been previously received by the Lender (or any of its Affiliates) from any member of the Group or any of its advisers in whatever form, and includes information
given orally and any document, electronic file or any other way of representing or recording information which contains or is derived or copied from such information but excludes information that: 

 

	 	(a)	is or becomes public information other than as a direct or indirect result of any breach by the Lender of Clause 24 (Confidentiality); 

 

	 	(b)	is identified in writing at the time of delivery as non-confidential by any member of the Group or any of its advisers; or 

 

	 	(c)	is known by the Lender before the date the information is disclosed to it or is lawfully obtained by the Lender after that date, from a source which is as far as the
Lender is aware, unconnected with the Group and which, in either case, as far as the Lender is aware, has not been obtained in breach of and is not otherwise subject to any obligation of confidentiality. 

“Confidentiality Undertaking” means a confidentiality undertaking substantially in a recommended form of the LMA or in
any other form agreed between the Borrower and the Lender. 
 “Conversion Date” means the date on which the New
Debt has been converted into a term loan in accordance with Clause 2 (The Facility). 
 “Convertible
Notes” means the 3.00% Convertible Senior Notes due 2013 issued by the Borrower. 
 “Default” means an
Event of Default or any event or circumstance specified in Clause 16 (Events of Default) which would (with the expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of
any of the foregoing) be an Event of Default. 
 “Delegate” means any delegate, agent, attorney or co-trustee
appointed by the Lender. “Disruption Event” means either or both of: 
  

	 	(a)	a material disruption to those payment or communications systems or to those financial markets which are, in each case, required to operate in order for payments to be
made in connection with the Facility (or otherwise in order for the transactions contemplated by the Finance Documents to be carried out) which disruption is not caused by, and is beyond the control of, any of the Parties; or

  

	 	(b)	the occurrence of any other event which results in a disruption (of a technical or systems-related nature) to the treasury or payments operations of a Party preventing
that, or any other Party: 

  

	 	(i)	from performing its payment obligations under the Finance Documents; or 

  

	 	(ii)	from communicating with other Parties in accordance with the terms of the Finance Documents, 

and which (in either such case) is not caused by, and is beyond the control of, the Party whose operations are disrupted. 

“Event of Default” means any event or circumstance specified as such in Clause 16 (Events of Default). 

  
 3 

 “Facility” means the term loan facility made available under this Agreement
as described in Clause 2 (The Facility). 
 “Finance Document” means this Agreement, any Accession
Letter, any Transaction Security Document and any other document designated as such by the Lender and the Borrower. 

“Finco” means CEDC Finance Corporation International, Inc. 

“Group” means the Borrower and its Subsidiaries for the time being. 

“Guarantor” means an Original Guarantor and an Additional Guarantor, unless it has ceased to be a Guarantor in accordance
with Clause 19 (Changes to the Obligors). 
 “Holding Company” means, in relation to a person, any other
person in respect of which it is a Subsidiary. 
 “Insolvency Proceedings” means: 

 

	 	(a)	in the case of a person incorporated under the laws of, or (to the extent Russian insolvency laws are applicable to such person) conducting business in, the Russian
Federation, any Russian Insolvency Proceedings; 

  

	 	(b)	in the case of a person incorporated other than under the laws of the Russian Federation: 

 

	 	(i)	the suspension of payments by it, a moratorium of any of its indebtedness, its winding-up, dissolution, administration or reorganisation (by way of voluntary
arrangement, scheme of arrangement or otherwise) other than solvent liquidation or reorganisation of any member of the Group which is not an Obligor; 

  

	 	(ii)	a composition, compromise, assignment or arrangement with any of its creditors; 

 

	 	(iii)	the appointment of a liquidator (other than in respect of a solvent liquidation of a member of the Group which is not an Obligor), receiver, administrative receiver,
administrator, compulsory manager or other similar officer in respect of it or all or substantially all of its assets; or 

  

	 	(iv)	enforcement of any Security over all or substantially all of its assets; or 

 

	 	(c)	in the case of any person, any analogous proceedings to the above in any Relevant Jurisdiction. 

“Insolvent” means: 
  

	 	(a)	in the case of a person incorporated under the laws of, or (to the extent Russian insolvency laws are applicable to such person) conducting business in, the Russian
Federation, it satisfies a Russian Insolvency Test; 

  

	 	(b)	in the case of a person incorporated other than under the laws of the Russian Federation, or conducting business other than in the Russian Federation:

  

	 	(i)	it is unable or admits inability to pay its debts as they fall due; 

  

	 	(ii)	it is declared to, be unable to pay its debts under applicable law; 

  

	 	(iii)	it suspends making payments on its debts; 

  
 4 

	 	(iv)	by reason of actual or anticipated financial difficulties, it commences negotiations with one or more of its creditors (excluding the Lender or any of its Affiliates)
with a view to rescheduling any of its indebtedness; 

  

	 	(v)	the value of its assets is less than its liabilities (taking into account contingent and prospective liabilities); 

 

	 	(vi)	a moratorium is declared in respect of any of its indebtedness; or 

  

	 	(c)	in relation to any person, any analogous event or circumstance to those referred to in paragraphs (a) and (b) above. 

“Interest Period” means each period from (a) the Conversion Date to 18 March 2013, (b) 19 March 2013
to 18 September 2013 and (c) 19 September 2013 to the Termination Date. 
 “Legal Reservations”
means: 
  

	 	(a)	the principle that equitable remedies may be granted or refused at the discretion of a court and the limitation of enforcement by laws relating to insolvency,
reorganisation and other laws generally affecting the rights of creditors; 

  

	 	(b)	the time barring of claims, the possibility that an undertaking to assume liability for or indemnify a person against non-payment of UK stamp duty may be void and
defences of set-off or counterclaim; 

  

	 	(c)	similar principles, rights and defences under the laws of any Relevant Jurisdiction; and 

 

	 	(d)	any other matters limiting the obligations of the Obligors, the Security Provider or members of the Group which are set out as qualifications or reservations as to
matters of law of general application in any legal opinion delivered to the Lender in connection with any Finance Document. 

 “LMA” means the Loan Market Association. 
 “Loan”
means the loan made or to be made under the Facility or the principal amount outstanding for the time being of that loan. 

“Material Adverse Effect” means a material adverse effect on: 

 

	 	(a)	the business, assets or financial condition of the Group taken as a whole; or 

 

	 	(b)	the ability of the Obligors taken as a whole to perform their payment obligations under the Finance Documents; or 

 

	 	(c)	the validity or enforceability of any Finance Document or the ranking or priority of any Transaction Security or the rights or remedies of the Lender under any of the
Finance Documents. 

 “New Debt” means the USD70,000,000 3.00% Senior Notes due 2013 issued by
Central European Distribution Corporation. 
 “New Lender” has the meaning given to that term in Clause 17
(Assignments and Transfers by the Lender). 
 “Notes” means the Senior Secured Notes and any other notes
issued by any member of the Group. 
 “Obligor” means the Borrower or a Guarantor. 

  
 5 

 “Original Jurisdiction” means, in relation to an Obligor or Security
Provider, the jurisdiction under whose laws that Obligor or Security Provider is incorporated as at the date of this Agreement or, in the case of an Additional Obligor, as at the date on which that Additional Obligor becomes Party as a Guarantor.

 “Original Obligor” means the Borrower or an Original Guarantor. 

“Party” means a party to this Agreement. 
 “Perfection Requirements” means the making or the procuring of the appropriate registrations, filings, endorsements, notarisations, stampings and/or notifications of the Transaction
Security Documents or the Security created thereunder. 
 “Receiver” means a receiver or receiver and manager or
administrative receiver of the whole of any part of the Charged Property. 
 “Relevant Jurisdiction” means, in
relation to an Obligor or Security Provider: 
  

	 	(a)	its Original Jurisdiction; 

  

	 	(b)	any jurisdiction where any asset subject to the Transaction Security to be created by it is situated; and 

 

	 	(c)	the jurisdiction whose laws govern the perfection of any of the Transaction Security Documents entered into by it. 

“Repeating Representations” means each of the representations set out in Clauses 13.1 (Status), 13.2 (Binding
Obligations), 13.3 (Non-Conflict with Other Obligations), 13.4 (Power and Authority), 13.5 (Validity and Admissibility in Evidence), 13.6 (Governing law and Enforcement) and 13.8 (Ranking). 

“Representative” means any delegate, agent, manager, administrator, nominee, attorney, trustee or custodian. 

“Russian Alcohol Group Companies” means: 
  

	 	(a)	JSC “Russian Alcohol Group”; 

  

	 	(b)	JSC “Distillery Topaz”; 

  

	 	(c)	OOO Parliament Production; 

  

	 	(d)	Limited Liability Company “The Trading House Russian Alcohol”; 

  

	 	(e)	Limited Liability Company TH Russian Alcohol North-West; 

  

	 	(f)	Limited Liability Company TH Russian Alcohol Siberia; and 

  

	 	(g)	Limited Liability Company Trade House Russian Alcohol Moscow. 

 “Russian Insolvency Proceedings” means, in respect of a person incorporated in the Russian Federation, any of the following: 

 

	 	(a)	the implementation of measures to prevent its bankruptcy envisaged by applicable Russian law, including but not limited to, the implementation of recovery
(sanatsiya) in respect of it envisaged by the Bankruptcy Law; or 

  

	 	(b)	its seeking, consenting, or acquiescing to the introduction of proceedings, for its liquidation or bankruptcy, or the appointment of liquidator (likvidator) or a
liquidation commission (likvidatsionnaya komissiya) or the granting of other similar relief with respect to its debts; or 

  
 6 

	 	(c)	the presentation or filing of a petition in respect of it in any court or arbitrazh court or other similar body or agency alleging for its bankruptcy, insolvency,
dissolution or liquidation, or the initiation of any analogous proceeding; or 

  

	 	(d)	the institution of the supervision (nablyudeniye), financial recovery (finansovoe ozdorovleniye), external management (vneshneye upravleniye) or
bankruptcy management (konkursnoye proizvodstvo) of it, and/or the appointment of a temporary manager (vremenniy upravlyaushchiy), administrative manager (administrativniy upravlyaushchiy), external manager (vneshniy
upravlayushchiy), bankruptcy manager (konkursniy upravlayushchiy) or similar officer of it; or 

  

	 	(e)	the convening or announcement of the intention to convene a meeting of its creditors for the purposes of considering an amicable settlement, or its entry into a
voluntary arrangement (mirovoye soglasheniye) in the meaning of the Bankruptcy Law; or 

  

	 	(f)	the taking of any decision on its dissolution, liquidation or similar proceeding with respect to it by any court or any governmental, regulatory or supervisory body in
or of the Russian Federation. 

 “Russian Insolvency Test” means, in respect of a person
incorporated in the Russian Federation any of the following: 
  

	 	(a)	it does not discharge the claims of any creditor in excess of RUB 100,000 related to monetary obligations (denezhnye obyazatel’stva) (as defined in the
Bankruptcy Law) and/or make any mandatory payments (obyasatel’niye platezhi), as determined by the court, within three months after their due date; 

 

	 	(b)	it is unable to pay its debt or discharge its monetary obligations (denezhnye obyazatel’stva) (as defined in the Bankruptcy Law) or to make mandatory
payments as they fall due; 

  

	 	(c)	the settlement of claims of one or more creditors makes it impossible for it to discharge its monetary obligations (denezhnye obyazatel’stva) (as defined in
the Bankruptcy Law) or to make mandatory payments (obyasatel’niye platezhi) and/or other payments in full to its other creditors; 

  

	 	(d)	its board of directors, participants or shareholders (as applicable) adopt a resolution to file a petition with a Russian arbitrazh court for its liquidation;

  

	 	(e)	the levying of execution of any judgment, award or order on its property will materially impair or make impossible its ability to carry on its business activity;

  

	 	(f)	there are signs of its inability to pay (priznak neplatezhesposobnosti) and/or signs of insufficiency of its property (priznak nedostatochnosti
imuschestva) (in the meaning of the Bankruptcy Law); and/or 

  

	 	(g)	it meets any other criteria for the commencement of Russian Insolvency Proceedings specified by the Bankruptcy Law. 

“Secured Parties” means the Lender and any Receiver or Delegate. 

“Security” means a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any
other agreement or arrangement having a similar effect. 
 “Security Provider” means Limited Liability Company
Trade House Russian Alcohol Moscow. 
 “Senior Secured Notes” means the 9.125% Senior Secured Notes due 2016 and
the 8.875% Senior Secured Notes due 2016 issued by CEDC Finance Corporation International, Inc. 

  
 7 

 “Significant Subsidiary” has the meaning given to such term in the New Debt
provided that ISF GmbH, Pasalba Limited, Peulla Enterprises Limited and Bravo Retail LLC shall not constitute Significant Subsidiaries. 
 “Subsidiary” means any subsidiary as defined in the Companies Act 2006. 
 “Tax” means any tax, levy, impost, duty, fee, assignment or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to
pay or any delay in paying any of the same). 
 “Termination Date” means the date falling twelve months after
the Conversion Date. 
 “Total Commitments” means the aggregate of the Commitments being USD50,000,000 at the
date of this Agreement. 
 “Transaction Security” means the Security created or expressed to be created in
favour of the Lender pursuant to the Transaction Security Documents. 
 “Transaction Security Documents” means
each of the documents listed as being a Transaction Security Document in paragraph 2 of Part 1 of Schedule 2 (Conditions Precedent) and paragraph 2 of Part 3 of Schedule 2 (Conditions Precedent) together with any other document entered
into by any Obligor or the Security Provider creating or expressed to create any Security over all or any part of its assets in respect of the obligations of any of the Obligors under any of the Finance Documents and designated as a Transaction
Security Document by the Borrower and the Lender. 
 “VAT” means: 

 

	 	(a)	any tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112); and

  

	 	(b)	any other tax of a similar nature, whether imposed in a member state of the European Union in substitution for, or levied in addition to, such tax referred to in
paragraph (a) above, or imposed elsewhere. 

 “Whitehall Group Companies” means: 

 

	 	(a)	OOO Whitehall-Center; 

  

	 	(b)	OOO Whitehall-Saint-Petersburg; and 

  

	 	(c)	OOO WH Rostov-Na-Donu. 

  

	1.2	Construction 

  

	 	(a)	Unless a contrary indication appears, any reference in this Agreement to: 

  

	 	(i)	the “Lender”, any “Obligor”, any “Party”, the “Security Provider” or any other person shall be
construed so as to include its successors in title, permitted assigns and permitted transferees to, or of, its rights and/or obligations under the Finance Documents; 

 

	 	(ii)	“assets” includes present and future properties, revenues and rights of every description; 

 

	 	(iii)	a “Finance Document” or any other agreement or instrument is a reference to that Finance Document or other agreement or instrument as amended, novated,
supplemented, extended or restated; 

  
 8 

	 	(iv)	“indebtedness” includes any obligation (whether incurred as principal or as surety) for the payment or repayment of money, whether present or future,
actual or contingent; 

  

	 	(v)	a “person” includes any individual, firm, company, corporation, government, state or agency of a state or any association, trust, joint venture,
consortium or partnership (whether or not having separate legal personality); 

  

	 	(vi)	a “regulation” includes any regulation, rule, official directive, request or guideline (whether or not having the force of law, but if not having the
force of law, being of a type with which persons to whom it is directed are expected and accustomed to comply) of any governmental, intergovernmental or supranational body, agency, department or of any regulatory, self- regulatory or other authority
or organisation; 

  

	 	(vii)	a provision of law is a reference to that provision as amended or re-enacted; and 

 

	 	(viii)	a time of day is a reference to London time. 

  

	 	(b)	Section, Clause and Schedule headings are for ease of reference only. 

  

	 	(c)	Unless a contrary indication appears, a term used in any other Finance Document or in any notice given under or in connection with any Finance Document has the same
meaning in that Finance Document or notice as in this Agreement. 

  

	 	(a)	A Default is “continuing” if it has not been remedied or waived. 

 

	1.3	Currency Symbols and Definitions 

 “$”, “USD” and “dollars” denote the lawful currency of the United States of America. 

 

	1.4	Third Party Rights 

  

	 	(a)	Unless expressly provided to the contrary in a Finance Document a person who is not a Party has no right under the Contracts (Rights of Third Parties) Act 1999 (the
“Third Parties Act”) to enforce or to enjoy the benefit of any term of this Agreement. 

  

	 	(b)	Notwithstanding any term of any Finance Document the consent of any person who is not a Party is not required to rescind or vary this Agreement at any time.

  

	1.5	Obligations under the Term Sheet 

 The Parties acknowledge and agree that the Original Obligors’ entry into, and compliance with their obligations under, this Agreement satisfies all the obligations of: 

 

	 	(a)	the Borrower under the binding term sheet dated as of 28 December 2012 between the Borrower and the Lender (the “Term Sheet”); and

  

	 	(b)	the Guarantors (as defined in the Term Sheet) under the Term Sheet, 

 in respect of the “New Credit Facility Debt” as defined in, and for the purposes of, the Term Sheet and that this Agreement constitutes such New Credit Facility Debt. 

  
 9 

 Section 2 
 The Facility 
  

	2.	The Facility 

  

	2.1	The Facility 

 Subject to
the terms of this Agreement, the Lender agrees that: 
  

	 	(a)	upon the Lender notifying the Borrower in accordance with Clause 4 (Conditions of Conversion) without further action by any Party, a portion of the Lender’s
New Debt equal to the Total Commitment shall be converted into a new term loan to the Borrower in dollars and in an equal principal amount (the “Exchange”); 

 

	 	(b)	upon consummation of the Exchange, the portion of the New Debt so exchanged shall be automatically and permanently repaid and cancelled and the aggregate outstanding
principal amount of the New Debt outstanding shall be reduced by the par value of the aggregate principal amount of the New Debt exchanged into a new term loan; and 

 

	 	(c)	following the Exchange, it will take whatever action is reasonably necessary in order to give full effect to the repayment, cancellation and reduction of the portion of
the New Debt referred to in paragraph (b) above, including (without limitation) by procuring that Deutsche Bank AG, London Branch as Fiscal Agent in respect of the New Debt (the “Fiscal Agent”), Deutsche Bank Luxembourg, SA as
Registrar in respect of the New Debt (the “Registrar”) or any other relevant entity duly records such repayment and cancellation (including, without limitation, by updating any relevant register in respect of the New Debt and
notifying Euroclear Bank SA/NV (and/or any relevant entity) in relation to such repayment and cancellation) and delivering any notices, instructions, certificates, forms, orders or any other documents as may be required by the Fiscal Agent, the
Registrar or any other relevant entity. 

  

	3.	Purpose 

  

	3.1	Purpose 

 The Borrower
shall apply all amounts borrowed by it under the Facility towards its working capital and general corporate purposes. 
  

	3.2	Monitoring 

 The Lender is
not bound to monitor or verify the application of any amount borrowed pursuant to this Agreement. 
  

	4.	Conditions of Conversion 

A portion of the Lender’s New Debt equal to the Total Commitment shall be converted into a new term loan to the Borrower if the
Lender has received (or waived receipt of) all of the documents and other evidence listed in Part 1 of Schedule 2 (Conditions Precedent) in form and substance satisfactory to the Lender (acting reasonably). The Lender shall promptly notify
the Borrower upon being so satisfied. 

  
 10 

 Section 3 
 Repayment, Prepayment and Cancellation 
  

	5.	Repayment 

  

	5.1	Repayment of the Loan 

The Loan shall be repaid in full on the Termination Date. 

 

	5.2	Reborrowing 

 The Borrower
may not reborrow any part of the Facility which is repaid. 
  

	6.	Prepayment and Cancellation 

  

	6.1	Illegality 

 If, in any
applicable jurisdiction, it becomes unlawful for the Lender to perform any of its obligations as contemplated by this Agreement or to fund or maintain the Loan: 
  

	 	(a)	the Lender shall promptly notify the Borrower upon becoming aware of that event; 

 

	 	(b)	upon the Lender notifying the Borrower, the Commitment of the Lender will be immediately cancelled; and 

 

	 	(c)	the Borrower shall repay the Lender’s participation in the Loan made to the Borrower on the last day of the Interest Period for the Loan occurring after the Lender
has notified the Borrower or, if earlier, the date specified by the Lender in the notice delivered to the Borrower (being no earlier than the last day of any applicable grace period permitted by law). 

 

	6.2	Voluntary Prepayment of the Loan 

 The Borrower, if it gives the Lender not less than five Business Days’ (or such shorter period as the Lender may agree) prior notice, may prepay the whole or any part of the Loan (but, if in part,
being an amount that reduces the amount of the Loan by a minimum amount of USD1,000,000). 
  

	6.3	Restrictions 

  

	 	(a)	Unless specified to the contrary therein, any notice of cancellation or prepayment given by any Party under this Clause 6 shall be irrevocable and, unless a contrary
indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment. 

 

	 	(b)	Any prepayment under this Agreement shall be made together with accrued interest on the amount prepaid and without premium or penalty. 

 

	 	(c)	The Borrower may not reborrow any part of the Facility which is prepaid. 

  

	 	(d)	The Borrower shall not repay or prepay all or any part of the Loan or cancel all or any part of the Commitments except at the times and in the manner expressly provided
for in this Agreement. 

  

	 	(e)	No amount of the Total Commitments cancelled under this Agreement may be subsequently reinstated. 

  
 11 

 Section 5 
 Interest 
  

	7.	Interest 

  

	7.1	Calculation of Interest 

The rate of interest on the Loan is 3 per cent. per annum. 

 

	7.2	Payment of Interest 

 The
Borrower shall pay accrued interest on the Loan on the last day of each Interest Period. On the last day of the first such Interest Period the Borrower will also pay to the Lender an amount equal to the amount of interest accrued on $50,000,000 of
the New Debt between 18 September 2012 and the day falling immediately prior to the Conversion Date. 
  

	7.3	Default Interest 

 Upon
the occurrence and during the continuance of an Event of Default, interest shall accrue on the Loan from the date of the occurrence of such Event of Default up to the date when such Event of Default has been cured (or waived in accordance with the
terms of this Agreement) (both before and after judgment) at a rate which is two per cent. higher than the rate then borne by such Loan. Any interest accruing under this Clause 7.3 shall be immediately payable by the Obligor on demand by the Lender.

  
 12 

 Section 6 
 Additional Payment Obligations 
  

	8.	Tax Gross-up and Indemnities 

  

	8.1	Definitions 

  

	 	(a)	In this Agreement: 

“Exempt Lender” means, in relation to an Obligor, a Lender which is able (other than by reason of being a “Treaty
Lender”) under the domestic law of that Obligor’s Tax Jurisdiction or the jurisdiction of source of the interest (if different) to receive interest free of any withholding or deduction for or on account of Tax imposed by either
jurisdiction. 
 “Obligor’s Tax Jurisdiction” means, with respect to any Obligor, the jurisdiction in
which the Obligor is resident for tax purposes as at the date of this Agreement. 
 “Protected Party” means the
Lender who is or will be subject to any liability, or required to make any payment, for or on account of Tax in relation to a sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a Finance
Document. 
 “Qualifying Lender” means a Lender which is: (i) an Exempt Lender or (ii) a Treaty
Lender. 
 “Tax Credit” means a credit against, relief or remission for, or refund or repayment of, any Tax.

 “Tax Deduction” means a deduction or withholding for or on account of Tax from a payment under a Finance
Document. 
 “Tax Payment” means either the increase in a payment made by an Obligor to the Lender under Clause
8.2 (Tax Gross-up) or a payment under Clause 8.3 (Tax Indemnity). 
 “Treaty Lender” means a
Lender which: 
  

	 	(i)	is treated as a resident of a Treaty State for the purposes of the Treaty; 

 

	 	(ii)	does not carry on a business in the Obligor’s Tax Jurisdiction through a permanent establishment with which that Lender’s participation in the Loan is
effectively connected; and 

  

	 	(iii)	is entitled under the provisions of an applicable double taxation agreement (a “Treaty”) with the Obligor’s Tax Jurisdiction (subject to the
completion of any necessary procedural formalities) to receive any and all payments under a Finance Document without a Tax Deduction. 

 “Treaty State” means a jurisdiction having a Treaty with the Obligor’s Tax Jurisdiction which makes provision for full exemption from tax imposed by the Obligor’s Tax
Jurisdiction on interest. 
  

	 	(b)	Unless a contrary indication appears, in this Clause 8 a reference to “determines” or “determined” means a determination made in the absolute
discretion of the person making the determination. 

  
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	8.2	Tax Gross-up 

  

	 	(a)	Each Obligor shall make all payments to be made by it without any Tax Deduction, unless a Tax Deduction is required by law. 

 

	 	(b)	The Borrower shall promptly upon becoming aware that an Obligor must make a Tax Deduction (or that there is any change in the rate or the basis of a Tax Deduction)
notify the Lender accordingly. Similarly, a Lender shall notify the Borrower and that Obligor on becoming so aware in respect of a payment payable to that Lender. 

 

	 	(c)	If a Tax Deduction is required by law to be made by an Obligor, the amount of the payment due from that Obligor shall be increased to an amount which (after making any
Tax Deduction) leaves an amount equal to the payment which would have been due if no Tax Deduction had been required. 

  

	 	(d)	An Obligor is not required to make an increased payment to a Lender under paragraph (c) above for a Tax Deduction from a payment of interest on a Loan if, on the
date on which the payment falls due: (i) the payment could have been made to the relevant Lender without a Tax Deduction if the Lender had been a Qualifying Lender, but on that date that Lender is not or has ceased to be a Qualifying Lender
other than as a result of any change after the date it became a Lender under this Agreement in any law or Treaty or any published practice or published concession of any relevant taxing authority; provided, however, this clause (i) shall not
apply (and thus an increased payment pursuant to paragraph (c) shall be made) to the extent that a Tax Deduction imposed on a payment by an Obligor other than the Borrower is in excess of the Tax Deduction that would have been imposed if the
Borrower had made such payment; or (ii) the Obligor making the payment could have made the payment to the Lender without the Tax Deduction had that Lender complied with its obligations under paragraph (g), (h), (i) or (j), as the case may
be. 

  

	 	(e)	If an Obligor is required to make a Tax Deduction, that Obligor shall make that Tax Deduction and any payment required in connection with that Tax Deduction within the
time allowed and in the minimum amount required by law. 

  

	 	(f)	Within 30 days of making either a Tax Deduction or any payment required in connection with that Tax Deduction, the Obligor making that Tax Deduction shall deliver to
the Lender entitled to the payment evidence reasonably satisfactory to the Lender that the Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority. 

 

	 	(g)	Each Lender that is not a “United States person” (as defined in Section 7701(a)(30) of the U.S. Internal Revenue Code of 1986, as amended (the
“Code”)) (a “Foreign Lender”), and that is entitled to an exemption from or reduction of withholding tax with respect to amounts payable under this Agreement (or any other Finance Document) under the law of the
applicable Obligor’s Tax Jurisdiction, or under any Treaty to which such jurisdiction is a party, shall deliver to the Borrower and, if required, to the relevant taxing authority, such properly completed and duly executed documentation as will
permit such payments to be made without the imposition of withholding or at a reduced rate of withholding. Without limiting the generality of the preceding sentence, to the extent legally entitled to do so, each Foreign Lender shall deliver to the
Borrower, on or prior to the date on which such Lender becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of the Borrower, but only if such Lender is legally entitled to do so at such time):

  

	 	(i)	two properly completed and duly executed copies of U.S. Internal Revenue Service (“IRS”) Form W-8BEN (or any successor form) claiming eligibility for
the benefits of a Treaty to which the United States is a party; 

  
 14 

	 	(ii)	two properly completed and duly executed copies of IRS Form W-8ECI (or any successor form); 

 

	 	(iii)	in the case of a Lender claiming the benefits of the exemption for portfolio interest under section 881(c) of the Code, two properly completed and duly executed copies
of (A) IRS Form W-8BEN (or any successor form) and (B) a certificate to the effect that such Lender is not (1) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (2) a “10 percent shareholder” of
the Borrower (or other applicable Obligor) within the meaning of section 881(c)(3)(B) of the Code, or (3) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code; or 

 

	 	(iv)	any other form prescribed by applicable laws as a basis for claiming exemption from or a reduced rate of withholding for U.S. federal income tax, together with such
supplementary documentation as may be prescribed by applicable laws to permit the Borrower (or other applicable Obligor) to determine the Tax Deduction (if any) required with respect to amounts payable to such Lender under this Agreement.

  

	 	(h)	Each Lender that is not a Foreign Lender, and that has not otherwise established to the Borrower’s reasonable satisfaction that it is exempt from U.S. federal
backup withholding and information reporting, shall deliver to the Borrower, on or prior to the date on which such Lender becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of the Borrower, but only if
such Lender is legally entitled to do so at such time), two properly completed and duly executed copies of IRS W-9 certifying that such Lender is not subject to U.S. federal backup withholding. 

 

	 	(i)	A Treaty Lender and each Obligor which makes a payment to which that Treaty Lender is entitled shall co-operate in completing any procedural formalities necessary for
that Obligor to obtain authorisation to make that payment without a Tax Deduction and in particular that Treaty Lender shall make such claims and file such documents as may be required for that Treaty Lender to validly apply to the appropriate tax
authorities for the benefit of the relevant Treaty as soon as reasonably practicable after that Treaty Lender becomes a Party to this Agreement. 

  

	 	(j)	An Exempt Lender shall complete any procedural formalities necessary (with the co- operation of the Obligor to the extent required by the procedural formalities) for
that Exempt Lender to obtain payments of interest free of withholding or deduction for or on account of tax imposed by the Obligor’s Tax Jurisdiction or the jurisdiction of source of the interest (if different). In particular that Exempt Lender
shall make such claims and file such documents as may be required for that Exempt Lender to validly apply to the appropriate tax authorities for the applicable exemption as soon as reasonably practicable after that Exempt Lender becomes a Party to
this Agreement. 

  

	8.3	Tax Indemnity 

  

	 	(a)	The Borrower shall (within three Business Days of demand by the Lender) pay to a Protected Party an amount equal to the loss, liability or cost which that Protected
Party determines will be or has been (directly or indirectly) suffered for or on account of Tax by that Protected Party in respect of a Finance Document. 

  

	 	(b)	Paragraph (a) above shall not apply: 

  

	 	(i)	with respect to any Tax assessed on the Lender: 

  

	 	(A)	under the law of the jurisdiction in which the Lender is incorporated or, if different, the jurisdiction (or jurisdictions) in which the Lender is treated as resident
for tax purposes; or 

  

	 	(B)	under the law of the jurisdiction in which the Lender’s Facility Office is located in respect of amounts received or receivable in that jurisdiction,

  
 15 

 if that Tax is imposed on or calculated by reference to the net income received or
receivable (but not any sum deemed to be received or receivable) by the Lender; or 
  

	 	(ii)	to the extent a loss, liability or cost: 

  

	 	(A)	is compensated for by an increased payment under Clause 8.2 (Tax Gross-up); 

 

	 	(B)	would have been compensated for by an increased payment under Clause 8.2 (Tax Gross-up) but was not so compensated solely because one of the exclusions in
paragraph (d) of Clause 8.2 (Tax Gross-up) applied; or 

  

	 	(C)	relates to a Bank Levy. 

  

	 	(c)	A Protected Party making, or intending to make a claim under paragraph (a) above shall promptly notify the Lender of the event which will give, or has given, rise
to the claim, following which the Lender shall notify the Borrower. 

  

	 	(d)	A Protected Party shall, on receiving a payment from an Obligor under this Clause 8.3, notify the Lender. 

 

	8.4	Tax Credit 

 If an Obligor
makes a Tax Payment and the Lender determines in its sole discretion that: 
  

	 	(a)	a Tax Credit is attributable to: 

  

	 	(i)	an increased payment of which that Tax Payment forms part; 

  

	 	(ii)	that Tax Payment; or 

  

	 	(iii)	a Tax Deduction in consequence of which that Tax Payment was required; and 

 

	 	(b)	that the Lender has obtained and utilised that Tax Credit, 

 the Lender shall pay an amount to the Obligor which the Lender determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been required
to be made by the Obligor. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or other information relating to its Taxes that it deems confidential) to the Borrower or any other person.

  

	8.5	Lender Status Confirmation 

Without limiting paragraphs (g) and (h) of Clause 8.2 (Tax Gross-up), the Lender which becomes a Party to this Agreement
after the date of this Agreement shall confirm in writing to the Borrower on becoming a Party, and without liability to any Obligor, which of the following categories it falls in: 

 

	 	(a)	not a Qualifying Lender: 

  

	 	(b)	a Qualifying Lender (other than a Treaty Lender): or 

  

	 	(c)	a Treaty Lender. 

  
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 If a New Lender fails to confirm its status in accordance with this Clause 8.5 then such New
Lender shall be treated for the purposes of this Agreement (including by each Obligor) as if it is not a Qualifying Lender until such time as it notifies the Lender which category applies (and the Lender, upon receipt of such notification, shall
inform the Borrower). 
  

	8.6	Stamp Taxes 

 The Borrower
shall pay and, within three Business Days of demand, indemnify the Lender against any cost, loss or liability that the Lender incurs in relation to all stamp duty, registration and other similar Taxes payable in respect of any Finance Document,
other than where such stamp duty, registration or other similar Taxes are in relation to an assignment, transfer or novation (or other disposal) by the Lender (or any successor thereof) of any right, benefit or obligation under a Finance Document.

  

	8.7	VAT 

  

	 	(a)	All amounts expressed to be payable under a Finance Document by any Party to the Lender which (in whole or in part) constitute the consideration for any supply for VAT
purposes are deemed to be exclusive of any VAT which is chargeable on that supply, and accordingly, subject to paragraph (b) below, if VAT is or becomes chargeable on any supply made by the Lender to any Party under a Finance Document and the
Lender is required to account to the relevant tax authority for the VAT, that Party must pay to the Lender (or, if applicable in accordance with procedure established by applicable law, to the relevant state budget) (in addition to and at the same
time as paying any other consideration for such supply) an amount equal to the amount of the VAT (and the Lender must promptly provide an appropriate VAT invoice to that Party, if applicable). 

 

	 	(b)	Where a Finance Document requires any Party to reimburse or indemnify the Lender for any cost or expense, that Party shall reimburse or indemnify (as the case may be)
the Lender for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that the Lender reasonably determines that it is entitled to credit or repayment in respect of such VAT from the relevant tax
authority. 

  

	 	(c)	Any reference in this Clause 8.7 to any Party shall, at any time when such Party is treated as a member of a group for VAT purposes, include (where appropriate and
unless the context otherwise requires) a reference to the representative member of such group at such time. 

  

	 	(d)	In relation to any supply made by the Lender to any Party under a Finance Document, if reasonably requested by the Lender, that Party must promptly provide the Lender
with details of that Party’s VAT registration and such other information as is reasonably requested in connection with the Lender’s VAT reporting requirements in relation to such supply. 

  
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	9.	Other Indemnities 

  

	9.1	Currency Indemnity 

  

	 	(a)	If any sum due from an Obligor under the Finance Documents (a “Sum”), or any order, judgment or award given or made in relation to a Sum, has to be
converted from the currency (the “First Currency”) in which that Sum is payable into another currency (the “Second Currency”) for the purpose of: 

 

	 	(i)	making or filing a claim or proof against that Obligor; 

  

	 	(ii)	obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration proceedings, 

that Obligor shall as an independent obligation, within three Business Days of demand, indemnify the Lender against any cost, loss or
liability arising out of or as a result of the conversion including any discrepancy between (A) the rate of exchange used to convert that Sum from the First Currency into the Second Currency and (B) the rate or rates of exchange available
to that person at the time of its receipt of that Sum. 
  

	 	(b)	Each Obligor waives any right it may have in any jurisdiction to pay any amount under the Finance Documents in a currency or currency unit other than that in which it
is expressed to be payable. 

  

	9.2	Other Indemnities 

 The
Borrower shall (or shall procure that an Obligor will), within three Business Days of demand, indemnify the Lender against any cost, loss or liability incurred by the Lender as a result of: 

 

	 	(a)	the occurrence of any Event of Default; 

  

	 	(b)	a failure by an Obligor to pay any amount due under a Finance Document on its due date; or 

 

	 	(c)	the Loan (or part of the Loan) not being prepaid in accordance with a notice of prepayment given by the Borrower. 

 

	10.	Mitigation by the Lenders 

  

	10.1	Mitigation 

  

	 	(a)	The Lender shall, in consultation with the Borrower, take all reasonable steps to mitigate any circumstances which arise and which would result in any amount becoming
payable under or pursuant to, or cancelled pursuant to, either Clause 6.1 (Illegality) or Clause 8 (Tax Gross-up and Indemnities). 

  

	 	(b)	Paragraph (a) above does not in any way limit the obligations of any Obligor under the Finance Documents. 

 

	10.2	Limitation of Liability 

  

	 	(a)	The Borrower shall promptly indemnify the Lender for all costs and expenses reasonably incurred by the Lender as a result of steps taken by it under Clause 10.1
(Mitigation). 

  

	 	(b)	The Lender is not obliged to take any steps under Clause 10.1 (Mitigation) if, in the opinion of the Lender (acting reasonably), to do so might be prejudicial to
it. 

  
 18 

	11.	Costs and Expenses 

  

	11.1	Enforcement Costs 

 The
Borrower shall, within three Business Days of demand, pay to the Lender the amount of all costs and expenses (including legal fees) incurred by the Lender in connection with the enforcement of, or the preservation of any rights under, any Finance
Document and the Transaction Security and any proceedings instituted by or against the Lender as a consequence of taking or holding the Transaction Security or enforcing these rights. 

  
 19 

 Section 7 
 Guarantee 
  

	12.	Guarantee and Indemnity 

  

	12.1	Guarantee and Indemnity 

Each Guarantor irrevocably and unconditionally jointly and severally: 

 

	 	(a)	guarantees to the Lender punctual performance by each other Obligor of all that Obligor’s obligations under the Finance Documents; 

 

	 	(b)	undertakes with the Lender that whenever another Obligor does not pay any amount when due under or in connection with any Finance Document, that Guarantor shall
immediately on demand pay that amount as if it was the principal obligor (including interest accruing during the pendency of any Insolvency Proceeding, regardless of whether allowed or allowable in such Insolvency Proceeding); and

  

	 	(c)	agrees with the Lender that if any obligation guaranteed by it is or becomes unenforceable, invalid or illegal it will, as an independent and primary obligation,
indemnify the Lender immediately on demand against any cost, loss or liability it incurs as a result of an Obligor not paying any amount which would, but for such unenforceability, invalidity or illegality, have been payable by it under any Finance
Document on the date when it would have been due. The amount payable by a Guarantor under this indemnity will not exceed the amount it would have had to pay under this Clause 12 if the amount claimed had been recoverable on the basis of a guarantee.

  

	12.2	Continuing Guarantee 

This guarantee is a continuing guarantee and will extend to the ultimate balance of sums payable by any Obligor under the Finance
Documents, regardless of any intermediate payment or discharge in whole or in part. 
  

	12.3	Reinstatement 

 If any
discharge, release or arrangement (whether in respect of the obligations of any Obligor or any security for those obligations or otherwise) is made by the Lender in whole or in part on the basis of any payment, security or other disposition which is
avoided or must be restored in insolvency, liquidation, administration or otherwise, without limitation, then the liability of each Guarantor under this Clause 12 will continue or be reinstated as if the discharge, release or arrangement had not
occurred. 
  

	12.4	Waiver of Defences 

 The
validity, enforceability and priority of the obligations of each Guarantor under this Clause 12, including the obligation of each Guarantor under Clause 12.1 (Guarantee and Indemnity) to pay the full amount of the obligations under this
Agreement upon maturity, including the total outstanding amount of principal outstanding and all interest accrued hereunder until repaid in full (which obligation is an absolute and unconditional obligation and not subject to defence, offset or
reduction), or, as applicable, under any Transaction Security Document to which a Guarantor is party will not be affected, impaired, offset or otherwise reduced by an act, omission, matter or thing which, but for this Clause, would reduce, release
or prejudice any of its obligations under this Clause 12 or such Transaction Security Document (without limitation and whether or not known to it or the Lender) including: 

 

	 	(a)	any time, waiver or consent granted to, or composition with, any Obligor or other person; 

  
 20 

	 	(b)	the release of any other Obligor (including the Borrower) or any other person under the terms of any composition or arrangement with any creditor of any member of the
Group or any Chapter 11 case or order; 

  

	 	(c)	the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up or enforce, any rights against, or security over assets
of, any Obligor or other person or any non-presentation or non-observance of any formality or other requirement in respect of any instrument or any failure to realise the full value of any security; 

 

	 	(d)	any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or status of an Obligor or any other person;

  

	 	(e)	any amendment, novation, supplement, extension, restatement, impairment (however fundamental and whether or not more onerous) or replacement of any Finance Document or
any other document or security including without limitation any change in the purpose of, any extension of or any increase in any facility or the addition of any new facility under any Finance Document or other document or security whether pursuant
to a Chapter 11 case or order or otherwise; 

  

	 	(f)	any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document or any other document or security, (including all liens,
pledges of assets and security interests granted to the Lender by the Guarantors) including (without limitation) under Clauses 5 (Repayment) and 12 (Guarantee and Indemnity) of this Agreement; or 

 

	 	(g)	the modification, reduction, impairment, annulment or discharge of the obligations of the Borrower arising from any insolvency or similar proceedings including, without
limitation, any Chapter 11 case involving the Borrower. 

  

	12.5	Guarantor Intent 

 Without
prejudice to the generality of Clause 12.4 (Waiver of Defences), each Guarantor expressly confirms that it intends that this guarantee shall extend from time to time to any (however fundamental) variation, increase, extension or addition of
or to any of the Finance Documents and/or any facility or amount made available under any of the Finance Documents for the purposes of or in connection with any of the following: business acquisitions of any nature; increased working capital;
enabling investor distributions to be made; carrying out restructurings; refinancing existing facilities; refinancing any other indebtedness; making facilities available to new borrowers; any other variation or extension of the proposes of which any
such facility or amount might be made available from time to time; and any fees, costs and/or expenses associated with any of the foregoing. 
  

	12.6	Immediate Recourse 

 Each
Guarantor waives any right it may have of first requiring the Lender (or any trustee or agent on its behalf) to proceed against or enforce any other rights or security or claim payment from any person before claiming from that Guarantor under this
Clause 12. This waiver applies irrespective of any law or any provision of a Finance Document to the contrary. 

  
 21 

	12.7	Appropriations 

 Until all
amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full, the Lender (or any trustee or agent on its behalf) may: 

 

	 	(a)	refrain from applying or enforcing any other moneys, security or rights held or received by the Lender (or any trustee or agent on its behalf) in respect of those
amounts, or apply and enforce the same in such manner and order as it sees fit (whether against those amounts or otherwise) and no Guarantor shall be entitled to the benefit of the same; and 

 

	 	(b)	hold in an interest-bearing suspense account any moneys received from any Guarantor or on account of any Guarantor’s liability under this Clause 12.

  

	12.8	Deferral of Guarantors’ Rights 

 Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full and unless the Lender otherwise directs, no Guarantor
will exercise any rights which it may have by reason of performance by it of its obligations under the Finance Documents or by reason of any amount being payable, or liability arising under this Clause 12: 

 

	 	(a)	to be indemnified by an Obligor; 

  

	 	(b)	to claim any contribution from any other guarantor of any Obligor’s obligations under the Finance Documents; 

 

	 	(c)	to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Lender under the Finance Documents or of any other
guarantee or security taken pursuant to, or in connection with, the Finance Documents by the Lender; 

  

	 	(d)	to bring legal or other proceedings for an order requiring any Obligor to make any payment, or perform any obligation, in respect of which any Guarantor has given a
guarantee, undertaking or indemnity under Clause 12.1 (Guarantee and Indemnity); 

  

	 	(e)	to exercise any right of set-off against any Obligor; and/or 

  

	 	(f)	to claim or prove as a creditor of any Obligor in competition with the Lender. 

 If a Guarantor receives any benefit, payment or distribution in relation to such rights it shall hold that benefit, payment or distribution to the extent necessary to enable all amounts which may be or
become payable to the Lender by the Obligors under or in connection with the Finance Documents to be repaid in full on trust for the Lender and shall promptly pay or transfer the same to the Lender. 

 

	12.9	Release of Guarantors’ Right of Contribution 

 If any Guarantor (a “Retiring Guarantor”) ceases to be a Guarantor in accordance with the terms of the Finance Documents for the purpose of any sale or other disposal of that Retiring
Guarantor then on the date such Retiring Guarantor ceases to be a Guarantor: 
  

	 	(a)	that Retiring Guarantor is released by each other Guarantor from any liability (whether past, present or future and whether actual or contingent) to make a contribution
to any other Guarantor arising by reason of the performance by any other Guarantor of its obligations under the Finance Documents; and 

  

	 	(b)	each other Guarantor waives any rights it may have by reason of the performance of its obligations under the Finance Documents to take the benefit (in whole or in part
and whether by way of subrogation or otherwise) of any rights of the Lender under any Finance Document or of any other security taken pursuant to, or in connection with, any Finance Document where such rights or security are granted by or in
relation to the assets of the Retiring Guarantor. 

  
 22 

	12.10	Additional Security 

 This
guarantee is in addition to and is not in any way prejudiced by any other guarantee or security now or subsequently held by the Lender. 
  

	12.11	Limitation language 

 The
obligations and liabilities of any Guarantor incorporated under the laws of Poland shall not include any liability to the extent it would result in a reduction of its assets necessary to cover in full its share capital pursuant to article 189 par. 2
of the Polish Commercial Code dated 15 September 2000 (Journal of Laws No. 94, item 1037 as amended). 
  

	12.12	Guarantee Limitations 

This guarantee does not apply to any liability to the extent that it would result in this guarantee constituting unlawful financial
assistance within the meaning of section 678 or 679 of the Companies Act 2006 or any applicable provisions under the laws of the Original Jurisdiction of incorporation of the relevant guarantor and, with respect to any Additional Guarantor, is
subject to any limitations set out in the Accession Letter applicable to such Additional Guarantor. 

  
 23 

 Section 8 
 Representations, Undertakings and Events of Default 
  

	13.	Representations 

 The
Borrower (in respect of itself and in respect of the Security Provider) and each other Obligor make the representations and warranties set out in this Clause 13 to the Lender on the date of this Agreement. 

 

	13.1	Status 

  

	 	(a)	It is a corporation, duly incorporated and validly existing under the law of its jurisdiction of incorporation. 

 

	 	(b)	It and each of its Subsidiaries has the power to own its assets and carry on its business as it is being conducted. 

 

	13.2	Binding Obligations 

Subject to the Legal Reservations and, in relation to paragraph (b) below, any Perfection Requirements: 

 

	 	(a)	the obligations expressed to be assumed by it in each Finance Document are legal, valid, binding and enforceable obligations; and 

 

	 	(b)	(without limiting the generality of paragraph (a) above) each Transaction Security Document to which it is a party creates the security interests which that
Transaction Security Document purports to create and those security interests are valid and effective. 

  

	13.3	Non-Conflict with Other Obligations 

 The entry into and performance by it of, and the transactions contemplated by, the Finance Documents and the granting of the Transaction Security do not and will not conflict with: 

 

	 	(a)	any law or regulation applicable to it; 

  

	 	(b)	its constitutional documents; or 

  

	 	(c)	any agreement or instrument binding upon it or any of its assets or constitute a default or termination event (however described) under any such agreement or instrument
where such conflict could reasonably be expected to have a Material Adverse Effect. 

  

	13.4	Power and Authority 

  

	 	(a)	It has the power to enter into, perform and deliver, and has taken all necessary action to authorise its entry into, performance and delivery of, the Finance Documents
to which it is a party and the transactions contemplated by those Finance Documents. 

  

	 	(b)	No limit on its powers will be exceeded as a result of the borrowing, grant of security or giving of guarantees or indemnities contemplated by the Finance Documents to
which it is a party. 

  

	13.5	Validity and Admissibility in Evidence 

  

	 	(a)	All Authorisations required: 

  

	 	(i)	to enable it lawfully to enter into, exercise its rights and comply with its obligations in the Finance Documents to which it is a party; and 

 

	 	(ii)	to make the Finance Documents to which it is a party admissible in evidence in its jurisdiction of incorporation, 

  
 24 

 have been obtained or effected and are in full force and effect. 

 

	 	(b)	All Authorisations necessary for the conduct of the business, trade and ordinary activities of it or its Subsidiaries have been obtained or effected and are in full
force and effect if failure to obtain or effect those Authorisations has or is reasonably likely to have a Material Adverse Effect. 

  

	13.6	Governing law and Enforcement 

 Subject to Legal Reservations: 
  

	 	(a)	the choice of governing law of the Finance Documents will be recognised and enforced in its Original Jurisdiction; 

 

	 	(b)	any judgment obtained in relation to a Finance Document in the jurisdiction of governing law of that Finance Document will be recognised and enforced in its Original
Jurisdiction, except that foreign judgements may not be able to be enforced in the Russian Federation in the absence of a relevant treaty between the Russian Federation and the jurisdiction in which such judgement was rendered; and

  

	 	(c)	any arbitral award obtained in any Relevant Jurisdiction in relation to a Finance Document shall be recognised and enforced in each Original Jurisdiction pursuant to
the New York Convention on Recognition and Enforcement of Foreign Arbitral Awards dated 10 June 1958. 

  

	13.7	Taxes 

 It is not (and
none of its Subsidiaries is) materially overdue in the filing of any Tax returns, to the extent that this would result in or would be reasonably likely to result in a Material Adverse Effect. No claims or investigations are being, or are reasonably
likely to be, made or conducted against it (or any of its Subsidiaries) with respect to Taxes such that a material liability of, or claim against, any member of the Group is reasonably likely to arise, to the extent that this would result in or
would be reasonably likely to result in a Material Adverse Effect. 
  

	13.8	Ranking 

 The Transaction
Security has or will have the ranking it purports to have and, save as envisaged by the Transaction Security Documents, it is not subject to any prior ranking or pari passu ranking Security. 

 

	13.9	Legal and Beneficial Ownership 

 It is the sole legal and beneficial owner of the assets over which it purports to grant Security. 
  

	13.10	Repetition 

 The Repeating
Representations are deemed to be made by each Obligor by reference to the facts and circumstances then existing on: 
  

	 	(a)	the Conversion Date; 

  

	 	(b)	the first date of each Interest Period commencing after the Conversion Date; and 

 

	 	(c)	in the case of an Additional Guarantor, the day on which the company becomes (or it is proposed that the company becomes) an Additional Guarantor.

  
 25 

	14.	Information Undertakings 

  

	 	(a)	Each Obligor shall, and shall procure that the Security Provider will, notify the Lender of any Default (and the steps, if any, being taken to remedy it) promptly upon
becoming aware of its occurrence (unless that Obligor is aware that a notification has already been provided by another Obligor). 

  

	 	(b)	Promptly upon a request by the Lender, the Borrower shall supply to the Lender a certificate signed by two of its directors or senior officers on its behalf certifying
that no Default is continuing (or if a Default is continuing, specifying the Default and the steps, if any, being taken to remedy it). 

  

	15.	General Undertakings 

 The
undertakings in this Clause 15 remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in force. 

 

	15.1	Authorisations 

 Each
Obligor shall, and shall procure that the Security Provider will, promptly: 
  

	 	(a)	obtain, comply with and do all that is necessary to maintain in full force and effect; and 

 

	 	(b)	supply certified copies to the Lender of, 

 any Authorisation required under any law or regulation of a Relevant Jurisdiction to enable it to: 
  

	 	(i)	perform its obligations under the Finance Documents; and 

  

	 	(ii)	to ensure, subject to the Legal Reservations, the legality, validity, enforceability or admissibility in evidence of any Finance Document. 

 

	15.2	Compliance with Laws 

Each Obligor shall, and shall procure that the Security Provider will, comply in all respects with all laws to which it may be subject, if
failure so to comply would materially impair its ability to perform its obligations under the Finance Documents. 
  

	15.3	Terms of Collateral 

 Each
Obligor specified in Schedule 4 (Obligations on Granting of Pledge under Agreements on Pledge of Goods in Circulation) shall, and shall procure that the Security Provider will, comply therewith. 

 

	15.4	Taxes 

 The Borrower shall
pay and discharge when due all material Taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, provided that such payment and discharge shall not be required with respect to
any such Tax, assessment, charge, levy so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings and the Borrower shall have set aside appropriate provisions with respect thereto. 

  
 26 

	15.5	Anti-Corruption law 

  

	 	(a)	No Obligor shall (and the Borrower shall ensure that no other member of the Group will) directly or indirectly use the proceeds of the Facility for any purpose which
would breach the Bribery Act 2010, the United States Foreign Corrupt Practices Act of 1977 or other similar legislation in other jurisdictions. 

  

	 	(b)	Each Obligor shall (and the Borrower shall ensure that each other member of the Group will) conduct its businesses in material compliance with applicable
anti-corruption laws. 

  

	15.6	Further Assurance 

  

	 	(a)	Each Obligor shall (and the Borrower shall procure that each other member of the Group will) promptly do all such acts or execute all such documents (including
assignments, transfers, mortgages, charges, notices and instructions) as the Lender may reasonably specify (and in such form as the Lender may reasonably require: 

 

	 	(i)	to perfect the Security created or intended to be created under or evidenced by the Transaction Security Documents (which may include the execution of a mortgage,
charge, assignment or other Security over all or any of the assets which are, or are intended to be, the subject of the Transaction Security) or for the proper exercise of any rights, powers and remedies of the Lender provided by or pursuant to the
Finance Documents or by law; 

  

	 	(ii)	to confer on the Lender Security over any property and assets of that Obligor and/or the Security Provider located in any jurisdiction equivalent or similar to the
Security intended to be conferred by or pursuant to the Transaction Security Documents; and/or 

  

	 	(iii)	to facilitate the realisation of the assets which are, or are intended to be, the subject of the Transaction Security, where the Lender is entitled to do so.

  

	 	(b)	Each Obligor shall (and the Borrower shall procure that each other member of the Group will) take all such reasonable action as is available to it (including making all
filings and registrations) as may be necessary for the purpose of the creation, perfection, protection or maintenance of any Security conferred or intended to be conferred on the Lender by or pursuant to the Finance Documents.

  

	15.7	Conditions Subsequent 

Each Obligor shall, and shall procure that the Security Provider will, promptly, and in any event no later than 10 Business Days from the
date of this Agreement (except for the requirement for notarisation of the Transaction Security Documents listed in Part 3 of Schedule 2 (Conditions Precedent) which shall be notarised on or before 14 March 2013) deliver to the Lender
all of the documents and other evidence listed in Part 3 of Schedule 2 (Conditions Precedent) in form and substance satisfactory to the Lender (acting reasonably). The Lender shall notify the Borrower promptly upon being so satisfied.

  

	16.	Events of Default 

 Each
of the events or circumstances set out in this Clause 16 is an Event of Default (save for Clause 16.10 (Acceleration)). 

  
 27 

	16.1	Non-Payment 

 An Obligor
does not pay on the due date any amount payable pursuant to a Finance Document at the place and in the currency in which it is expressed to be payable unless: 
  

	 	(a)	in the case of principal, its failure to pay is caused by: 

  

	 	(i)	administrative or technical error; or 

  

	 	(ii)	a Disruption Event; and 

  

	 	(iii)	payment is made within five Business Days of its due date; or 

  

	 	(b)	in the case of any other amount, payment is made within 30 Business Days of its due date. 

 

	16.2	Other Obligations 

  

	 	(a)	An Obligor or the Security Provider does not comply with any provision of the Finance Documents (other than those referred to in Clause 16.1 (Non-Payment)).

  

	 	(b)	No Event of Default under paragraph (a) above will occur if the failure to comply is capable of remedy and is remedied within 30 Business Days of the earlier of
(i) the Lender giving notice to the Borrower or relevant Obligor and (ii) the Borrower or an Obligor becoming aware of the failure to comply. 

  

	 	(c)	An Original Guarantor or the Security Provider breaches the terms of paragraph 2.1 or 2.2 of Schedule 4 (Obligations on Granting of Pledge under Agreements on Pledge
of Goods in Circulation) to this Agreement provided that there shall be no such breach for these purposes and this paragraph (c) shall not apply if the relevant breach is remedied in accordance with paragraph 2.3 of Schedule 4
(Obligations on Granting of Pledge under Agreements on Pledge of Goods in Circulation). Paragraph (b) above shall not apply to this paragraph. 

  

	 	(d)	Paragraph (b) above shall not apply to any failure to comply with Clause 15.7 (Conditions Subsequent). 

 

	16.3	Misrepresentation 

 Any
representation or statement made or deemed to be made by an Obligor or the Security Provider in the Finance Documents or any other document delivered by or on behalf of any Obligor or the Security Provider under or in connection with any Finance
Document is or proves to have been incorrect or misleading in any material respect when made or deemed to be made unless the underlying circumstances (if capable of remedy) are remedied within 30 Business Days of the earlier of (a) the Lender
giving notice to the Borrower, relevant Obligor or the Security Provider and (b) the Borrower, any other Obligor or the Security Provider becoming aware of the misrepresentation. 

 

	16.4	Cross Default 

 An event
of default by any member of the Group with respect to: 
  

	 	(a)	the Senior Secured Notes resulting in (i) acceleration in payment of the Senior Secured Notes and (ii) the exercise of any remedies exercisable as a result of
such acceleration by the Trustee or the Holders of the Senior Secured Notes permitted by the terms of the Senior Secured Notes in relation to the collateral for the Senior Secured Notes granted by any member of the Group (except the Borrower or
Finco); or 

  

	 	(b)	any mortgage, agreement or other instrument (other than any such mortgage, agreement or other instrument relating to the Senior Secured Notes, New Debt or Convertible
Notes) under which there may be outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed of any member of the Group (other than Borrower or Finco) (“Relevant Indebtedness”), whether such
Relevant Indebtedness now exists or shall hereafter be created either (i) resulting in such Relevant Indebtedness becoming or being declared due and payable, or (ii) constituting a failure to pay the principal or interest of any such
Relevant Indebtedness when due and payable ((i) and (ii) each being a “Relevant Default”) (and, in the case of this paragraph (b), if such Relevant Default is not cured or waived within 30 calendar days), and, in each case, the
amount of any such Relevant Indebtedness, together with the amount of any other Relevant Indebtedness or the maturity of which has been so accelerated, aggregates USD30,000,000 or more. 

  
 28 

	16.5	Insolvency 

 A Significant
Subsidiary (other than Finco) is Insolvent. 
  

	16.6	Insolvency Proceedings 

Any corporate action, legal proceedings or other procedure or step is taken for Insolvency Proceedings in respect of a Significant
Subsidiary (other than Finco), save for any winding-up petition which is frivolous or vexatious and is discharged, stayed or dismissed within 60 days of commencement. 
  

	16.7	Creditors’ Process 

Any expropriation, attachment, sequestration, distress or execution or any analogous process in any jurisdiction affects any asset or
assets of a Significant Subsidiary (other than Finco) having an aggregate value of USD30,000,000 and is not discharged within 60 days. 
  

	16.8	Unlawfulness and Invalidity 

  

	 	(a)	It is or becomes unlawful for an Obligor or the Security Provider to perform any of its obligations under the Finance Documents or any Transaction Security created or
expressed to be created or evidenced by the Transaction Security Documents ceases to be effective or is or becomes unlawful and the unlawfulness individually or cumulatively materially and adversely affects the interest of the Lender under the
Finance Documents. 

  

	 	(b)	Any obligation or obligations of any Obligor or the Security Provider under any Finance Documents are not or cease to be legal, valid, binding or enforceable and the
cessation individually or cumulatively materially and adversely affects the interests of the Lenders under the Finance Documents. 

  

	 	(c)	Any Finance Document ceases to be in full force and effect or any Transaction Security ceases to be (subject to the Legal Reservations) legal, valid, binding,
enforceable or effective or is alleges by a party to it (other than the Lender) to be ineffective and the cessation and/or effectiveness individually or cumulatively materially and adversely affects the interests of the Lender under the Finance
Documents. 

  

	16.9	Repudiation 

 An Obligor
or the Security Provider rescinds or purports in writing to rescind or repudiates or purports in writing to repudiate a Finance Document or any of the Transaction Security or evidences an intention to repudiate a Finance Document or any Transaction
Security. 

  
 29 

	16.10	Acceleration 

 On and at
any time whilst an Event of Default is continuing the Lender may, by notice to the Borrower: 
  

	 	(a)	cancel the Commitment whereupon it shall immediately be cancelled; 

  

	 	(b)	declare that all or part of the Loan, together with accrued interest, and all other amounts accrued or outstanding under the Finance Documents be immediately due and
payable, whereupon they shall become immediately due and payable; 

  

	 	(c)	declare that all or part of the Loan be payable on demand, whereupon they shall immediately become payable on demand by the Lender; and/or 

 

	 	(d)	exercise any or all of its rights, remedies, powers or discretions under the Finance Documents. 

  
 30 

 Section 9 
 Changes to Parties 
  

	17.	Assignments and Transfers by the Lender 

  

	 	(a)	Subject to this Clause 17, the Lender (the “Existing Lender”) may with the consent of the Borrower: 

 

	 	(i)	assign any of its rights; or 

  

	 	(ii)	transfer by novation any of its rights and obligations, 

 to another bank or financial institution or to a trust, fund or other entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other
financial assets (the “New Lender”). 
  

	 	(b)	The consent of the Borrower is not required for an assignment or transfer by the Lender if made at a time when an Event of Default is continuing.

  

	18.	Register 

 The Borrower
shall appoint the Existing Lender, and the Existing Lender agrees to act as an agent of the Borrower, solely for purposes of maintaining the record of any transfer or assignment of the Loan pursuant to Clause 17 (Assignments and Transfers by the
Lender), as well as of all payments of principal and interest in respect of the Loan (the “Register”). The entries in the Register shall be conclusive, in the absence of manifest error, and the Borrower and each Lender shall
treat each person whose name is recorded therein pursuant to this Clause 18 (Register) as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The provisions of this Clause 18 (Register) are
intended to cause the Loan to be in “registered form” within the meaning of Section 5f.1031(c) of the U.S. Treasury Department regulations promulgated under the Internal Revenue Code, and shall be interpreted and carried out in a
manner consistent therewith. The Register shall be available for inspection by the Borrower and any Lender at any reasonable time during regular business hours and from time to time upon reasonable prior notice. 

 

	19.	Changes to the Obligors 

  

	19.1	Assignments and Transfer by Obligors 

 No Obligor may assign any of its rights or transfer any of its rights or obligations under the Finance Documents. 
  

	19.2	Additional Guarantors 

  

	 	(a)	The Borrower may request that any of its wholly owned Subsidiaries become an Additional Guarantor. That Subsidiary shall become an Additional Guarantor if:

  

	 	(i)	the Borrower delivers to the Lender a duly completed and executed Accession Letter; and 

 

	 	(ii)	the Lender has received all of the documents and other evidence listed in Part 2 of Schedule 2 (Conditions Precedent) in relation to that Additional Guarantor,
each in form and substance satisfactory to the Lender (acting reasonably). 

  

	 	(b)	The Lender shall notify the Borrower promptly upon being satisfied that it has received (or waived receipt of) (in form and substance satisfactory to it (acting
reasonably)) all the documents and other evidence listed in Part 2 of Schedule 2 (Conditions Precedent). 

  
 31 

	19.3	Repetition of Representations 

 Delivery of an Accession Letter constitutes confirmation by the relevant Subsidiary that the Repeating Representations are true and correct in relation to it as at the date of delivery as if made by
reference to the facts and circumstances then existing. 
  

	19.4	Resignation of a Guarantor 

  

	 	(a)	If a Guarantor is automatically and unconditionally released as a Guarantor under the Senior Secured Notes then such Guarantor shall cease to be a Guarantor under this
Agreement and shall be released from its obligations hereunder. 

  

	 	(b)	The Lender hereby agrees to take all necessary actions to effectuate any release in accordance with this Clause 19.4. At the request and expense of the Borrower, the
Lender shall, at the Borrower’s cost, execute and deliver any document reasonably requested to evidence such release and discharge. 

  

	19.5	Resignation and release of security on disposal 

 If a Guarantor is or is proposed to be the subject of a disposal to a person which is not a member of the Group then: 
  

	 	(a)	where that Guarantor created Transaction Security over any of its assets in favour of the Lender, the Lender will, at the cost and request of the Borrower, release
those assets; and 

  

	 	(b)	any resignation of that Guarantor and related release of Transaction Security referred to in paragraph (a) above shall become effective only on the making of that
disposal. 

  
 32 

 Section 10 

Notices 
  

	19.6	Communications in Writing 

Any communication to be made under or in connection with the Finance Documents shall be made in writing and, unless otherwise stated, may
be made by letter. 
  

	19.7	Addresses 

 The address
and fax number (and the department or officer, if any, for whose attention the communication is to be made) of each Party for any communication or document to be made or delivered under or in connection with the Finance Documents is: 

 

	 	(a)	in the case of an Original Obligor, that identified with its name below; 

  

	 	(b)	in the case of any New Lender or any Additional Guarantor, that notified in writing to the other Parties on or prior to the date on which it becomes a Party; and

  

	 	(c)	in the case of the original Lender, that identified with its name below, 

 or any substitute address or fax number or department or officer as any Party may notify to the other Parties by not less than five Business Days’ notice. 

 

	19.8	Delivery 

  

	 	(a)	Any communication or document made or delivered by one person to another under or in connection with the Finance Documents will only be effective:

  

	 	(i)	if by way of fax, when received in legible form; or 

  

	 	(ii)	if by way of letter, when it has been left at the relevant address or five Business Days after being deposited in the post postage prepaid in an envelope addressed to
it at that address, 

 and, if a particular department or officer is specified as part of its address details
provided under Clause 19.7 (Addresses), if addressed to that department or officer. 
  

	 	(b)	Any communication or document to be made or delivered to the Lender will be effective only when actually received by the Lender and then only if it is expressly marked
for the attention of the department or officer identified with the Lender’s signature below (or any substitute department or officer as the Lender shall specify for this purpose). 

 

	 	(c)	Any communication or document made or delivered to the Borrower in accordance with this clause will be deemed to have been made or delivered to each of the Obligors.

  

	 	(d)	Any communication or document which becomes effective, in accordance with paragraphs (a) to (c) above, after 5.00 p.m. in the place of receipt shall be deemed
only to become effective on the following day. 

  

	19.9	Notification of Address and Fax Number 

 Promptly upon changing its own address or fax number, the Lender shall notify the other Parties. 

  
 33 

	19.10	Electronic Communication 

  

	 	(a)	Any communication to be made between any two Parties under or in connection with the Finance Documents may be made by electronic mail or other electronic means, to the
extent that those two Parties agree that, unless and until notified to the contrary, this is to be an accepted form of communication and if those two Parties: 

 

	 	(i)	notify each other in writing of their electronic mail address and/or any other information required to enable the sending and receipt of information by that means; and

  

	 	(ii)	notify each other of any change to their address or any other such information supplied by them, by not less than five Business Days’ notice.

  

	 	(b)	Any electronic communication made between those two Parties will be effective only when actually received in readable form and in the case of any electronic
communication made by a Party to the Lender only if it is addressed in such a manner as the Lender shall specify for this purpose. 

  

	 	(c)	Any electronic communication which becomes effective, in accordance with paragraph (b) above, after 5.00 p.m. in the place of receipt shall be deemed only to
become effective on the following day. 

  

	19.11	English Language 

  

	 	(a)	Any notice given under or in connection with any Finance Document must be in English. 

 

	 	(b)	All other documents provided under or in connection with any Finance Document, other than pursuant to Clause 4 (Conditions of Conversion) or Clause 19
(Changes to the Obligors), must be: 

  

	 	(i)	in English or Russian; or 

  

	 	(ii)	if not in English or Russian, and if so required by the Lender, accompanied by a certified English translation and, in this case, the English translation will prevail
unless the document is a constitutional, statutory or other official document. 

  

	20.	Calculations and Certificates 

  

	20.1	Accounts 

 In any
litigation or arbitration proceedings arising out of or in connection with a Finance Document, the entries made in the accounts maintained by the Lender are prima facie evidence of the matters to which they relate. 

 

	20.2	Certificates and Determinations 

 Any certification or determination by the Lender of a rate or amount under any Finance Document is, in the absence of manifest error, prima facie evidence of the matters to which it relates.

  

	20.3	Day Count Convention 

 Any
interest, commission or fee accruing under a Finance Document will accrue from day to day and is calculated on the basis of the actual number of days elapsed and a year of 360 days. 

  
 34 

	21.	Partial Invalidity 

 If,
at any time, any provision of the Finance Documents is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality,
validity or enforceability of such provision under the law of any other jurisdiction will in any way be affected or impaired. 
  

	22.	Remedies and Waivers 

 No
failure to exercise, nor any delay in exercising, on the part of the Lender, any right or remedy under the Finance Documents shall operate as a waiver of any such right or remedy or constitute an election to affirm any of the Finance Documents. No
election to affirm any of the Finance Documents on the part of the Lender shall be effective unless it is in writing. No single or partial exercise of any right or remedy shall prevent any further or other exercise or the exercise of any other right
or remedy. The rights and remedies provided in this Agreement are cumulative and not exclusive of any rights or remedies provided by law. 
  

	23.	Amendments and Waivers 

Any term of the Finance Documents may be amended or waived only with the consent of the Lender and the Borrower and any such amendment or
waiver will be binding on all Parties. 
  

	24.	Confidentiality 

  

	24.1	Confidential Information 

The Lender agrees to keep all Confidential Information confidential and not to disclose it to anyone, save to the extent permitted by
Clause 24.2 (Disclosure of Confidential Information), and to ensure that all Confidential Information is protected with security measures and a degree of care that would apply to its own confidential information. 

 

	24.2	Disclosure of Confidential Information 

 The Lender may disclose: 
  

	 	(a)	    

  

	 	(i)	to any of its Affiliates and any of its or their officers, directors, employees, professional advisers, auditors, partners and Representatives such Confidential
Information as the Lender shall consider appropriate if any person to whom the Confidential Information is to be given pursuant to this paragraph (a) is informed in writing of its confidential nature and that some or all of such Confidential
Information may be price-sensitive information except that there shall be no such requirement to so inform if the recipient is subject to professional obligations to maintain the confidentiality of the information or is otherwise bound by
requirements of confidentiality in relation to the Confidential Information; and 

  

	 	(ii)	to any party that is bound by a Confidentiality Undertaking with the relevant member of the Group; 

 

	 	(b)	to any person: 

  

	 	(i)	to (or through) whom it assigns or transfers (or may potentially assign or transfer) all or any of its rights and/or obligations under one or more Finance Documents or
which succeeds (or which may potentially succeed) it as Lender, to any of that person’s Affiliates, Representatives and professional advisers; 

  
 35 

	 	(ii)	with (or through) whom it enters into (or may potentially enter into), whether directly or indirectly, any sub-participation in relation to, or any other transaction
under which payments are to be made or may be made by reference to, one or more Finance Documents and/or one or more Obligors and to any of that person’s Affiliates, Representatives and professional advisers; 

 

	 	(iii)	appointed by the Lender or by a person to whom paragraph (i) or (ii) above applies to receive communications, notices, information or documents delivered
pursuant to the Finance Documents on its behalf; 

  

	 	(iv)	who invests in or otherwise finances (or may potentially invest in or otherwise finance), directly or indirectly, any transaction referred to in paragraph (i) or
(ii) above; 

  

	 	(v)	to whom information is required or requested to be disclosed by any court of competent jurisdiction or any governmental, banking, taxation or other regulatory authority
or similar body, the rules of any relevant stock exchange or pursuant to any applicable law or regulation; 

  

	 	(vi)	to whom information is requested or required to be disclosed in connection with, and for the purposes of, any litigation, deposition, interrogatory, subpoena,
arbitration, administrative or other investigations, proceedings or disputes; 

  

	 	(vii)	to whom or for whose benefit the Lender charges, assigns or otherwise creates Security (or may do so); 

 

	 	(viii)	who is a Party; or 

  

	 	(ix)	with the consent of the Borrower, 

 in each case, such Confidential Information as the Lender shall consider appropriate if: 
  

	 	(A)	in relation to paragraphs (i), (ii) and (iii) above, the person to whom the Confidential Information is to be given has entered into a Confidentiality
Undertaking except that there shall be no requirement for a Confidentiality Undertaking if the recipient is a professional adviser and is subject to professional obligations to maintain the confidentiality of the Confidential Information;

  

	 	(B)	in relation to paragraph (iv) above, the person to whom the Confidential Information is to be given has entered into a Confidentiality Undertaking or is otherwise
bound by requirements of confidentiality in relation to the Confidential Information they receive and is informed that some or all of such Confidential Information may be price-sensitive information; 

 

	 	(C)	in relation to paragraphs (v), (vi) and (vii) above, the person to whom the Confidential Information is to be given is informed of its confidential nature and
that some or all of such Confidential Information may be price-sensitive information except that there shall be no requirement to so inform if, in the opinion of the Lender, it is not practicable so to do in the circumstances;

  
 36 

	 	(c)	to any person appointed by the Lender or by a person to whom paragraph (b)(i) or (ii) above applies to provide administration or settlement services in respect of
one or more of the Finance Documents including without limitation, in relation to the trading of participations in respect of the Finance Documents, such Confidential Information as may be required to be disclosed to enable such service provider to
provide any of the services referred to in this paragraph (c) if the service provider to whom the Confidential Information is to be given has entered into a confidentiality agreement substantially in the form of the LMA Master Confidentiality
Undertaking for Use With Administration/Settlement Service Providers or such other form of confidentiality undertaking agreed between the Borrower and the Lender; 

 

	 	(d)	to any rating agency (including its professional advisers) such Confidential Information as may be required to be disclosed to enable such rating agency to carry out
its normal rating activities in relation to the Finance Documents and/or the Obligors if the rating agency to whom the Confidential Information is to be given is informed of its confidential nature and that some or all of such Confidential
Information may be price-sensitive information; and 

  

	 	(e)	any information in connection with the enforcement of any right or remedy relating to any agreement between the Lender on one hand, and any member of the Group, on the
other hand, or any of the transactions contemplated thereby. 

  

	24.3	Entire Agreement 

 This
Clause 24 (Confidentiality) constitutes the entire agreement between the Parties in relation to the obligations of the Lender under the Finance Documents regarding Confidential Information and supersedes any previous agreement whether express
or implied, regarding Confidential Information. 
  

	24.4	Inside Information 

 The
Lender acknowledges that some or all of the Confidential Information is or may be price-sensitive information and that the use of such information may be regulated or prohibited by applicable legislation including securities law relating to insider
dealing and market abuse and the Lender undertakes not to use any Confidential Information for any unlawful purpose. 
  

	24.5	Notification of Disclosure 

The Lender agrees (to the extent permitted by law and regulation) to inform the Borrower: 

 

	 	(a)	of the circumstances of any disclosure of Confidential Information made pursuant to paragraph (b)(v) of Clause 24.2 (Disclosure of Confidential Information)
except where such disclosure is made to any of the persons referred to in that paragraph during the ordinary course of its supervisory or regulatory function; and 

 

	 	(b)	upon becoming aware that Confidential Information has been disclosed in breach of this Clause 24 (Confidentiality). 

  
 37 

	24.6	Continuing Obligations 

The obligations in this Clause 24 (Confidentiality) are continuing and, in particular, shall survive and remain binding on the
Lender for period of 12 months from the date on which all amounts payable by the Obligors under or in connection with this Agreement have been paid in full and all Commitments have been cancelled or otherwise cease to be available. 

 

	25.	Counterparts 

 Each
Finance Document may be executed in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a single copy of the Finance Document. 

 

	26.	Restructuring Reservation of Rights 

 Notwithstanding anything in this Agreement, the Lender and its affiliates reserve all of their legal, equitable and contractual rights under this Agreement, the Loan and the Finance Documents with respect
to any restructuring (a “Restructuring”) of the Group’s capital structure, whether in or outside of a court proceeding, that would alter the legal, equitable or contractual rights of the Lender or its affiliates under this
Agreement, the Loan or the Finance Documents and the Lender and its affiliates are under no obligation to accept or support any treatment under any such Restructuring. 

  
 38 

 Section 12 

Governing Law and Enforcement 
  

	27.	Governing Law 

  

	 	(a)	This Agreement is governed by English law. 

  

	 	(b)	To the extent permitted by applicable law, any non-contractual obligations arising out of or in connection with this Agreement are governed by English law.

  

	 	(c)	Although this Agreement may be translated into Russian, any Russian version of this Agreement is for information purposes only. In the event of any discrepancies
between the English and Russian versions of this Agreement or any dispute regarding the interpretation of any provision in the English or Russian versions of this Agreement, the English version of this Agreement shall prevail and questions of
interpretation shall be addressed solely in the English language. 

  

	28.	Enforcement 

 The Parties
agree that any claim, dispute or difference of whatever nature arising under, out of or in connection with this Agreement (including a claim, dispute or difference regarding its existence, termination or validity or any non-contractual obligations
arising out of or in connection with this Agreement), shall be referred to and finally settled by arbitration in accordance with the London Court of International Arbitration (“LCIA”) Rules (the “Rules”) as in force
at the date of this Agreement and as modified by this clause, which Rules shall be deemed incorporated into this clause. The number of arbitrators shall be three, one of whom shall be nominated by the claimant(s), one by the respondent(s) and the
third of whom, who shall act as Chairman, shall be nominated by the two party-nominated arbitrators, provided that if the third arbitrator has not been nominated within thirty days of the nomination of the second party-nominated arbitrator, such
third arbitrator shall be appointed by the LCIA Court. The seat of arbitration shall be London, England and the language of arbitration shall be English. Sections 45 and 69 of the Arbitration Act 1996 shall not apply. 

This Agreement has been entered into on the date stated at the beginning of this Agreement. 

  
 39 

 Schedule 1 
 The Obligors 
 The Original Obligors 

Name of the Borrower 
 CENTRAL EUROPEAN
DISTRIBUTION 
 CORPORATION 
 Name
of Original Guarantor 
 JSC “RUSSIAN ALCOHOL GROUP” 
 LIMITED LIABILITY COMPANY “THE 
 TRADING HOUSE RUSSIAN ALCOHOL” 

LIMITED LIABILITY COMPANY TH 
 RUSSIAN ALCOHOL
NORTH-WEST 
 LIMITED LIABILITY COMPANY TH 
 RUSSIAN ALCOHOL SIBERIA 
 JSC “DISTILLERY TOPAZ” 

OOO PARLIAMENT PRODUCTION 
 OOO
WHITEHALL-CENTER 
 OOO WHITEHALL-SAINT-PETERSBURG 
 OOO WH ROSTOV-NA-DONU 
 CEDC INTERNATIONAL SP. Z O.O 

CEDC FINANCE CORPORATION, LLC 
 OOO PARLIAMENT
DISTRIBUTION 
 OOO “GLAVSPIRTTIREST” 
 BRAVO PREMIUM LLC 
 PREMIER DISTRIBUTION COMPANY 

OOO WHITEHALL SEVERO-ZAPAD 
 OOO WH IMPORT
COMPANY 
 BOLS HUNGARY KFT 

COPECRESTO ENTERPRISES LIMITED 
 LION/RALLY LUX
1 S.A. 
 LION/RALLY LUX 2 SARL 

LION/RALLY LUX 3 SARL 
 MID-RUSSIAN
DISTILLERIES 

  
 40 

 Schedule 2 
 Conditions Precedent 
 Part 1 

Conditions Precedent to Conversion 
  

	1.	This Agreement executed by the members of the Group party to this Agreement. 

 

	2.	An original of the following Transaction Security Documents: 

  

	 	(a)	Agreements on pledge of goods in circulation executed by each Russian Alcohol Group Companies; and 

 

	 	(b)	Agreements on pledge of goods in circulation executed by each Whitehall Group Companies. 

  
 41 

 Part 2 
 Conditions Precedent Required to be Delivered by an Additional Guarantor 
  

	1.	An Accession Letter, duly executed by the Additional Guarantor and the Borrower. 

 

	2.	A copy of the constitutional documents of the Additional Guarantor. 

  

	3.	A copy of a resolution of the board of directors of the Additional Guarantor: 

 

	 	(a)	approving the terms of, and the transactions contemplated by, the Accession Letter and the Finance Documents and resolving that it execute the Accession Letter;

  

	 	(b)	authorising a specified person or persons to execute the Accession Letter on its behalf; and 

 

	 	(c)	authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices to be signed and/or despatched by it under or in
connection with the Finance Documents. 

  

	4.	A specimen of the signature of each person authorised by the resolution referred to in paragraph 3 above. 

 

	5.	If necessary under the relevant local law, a copy of a resolution signed by all the holders of the issued shares of the Additional Guarantor, approving the terms of,
and the transactions contemplated by, the Finance Documents to which the Additional Guarantor is a party. 

  

	6.	A certificate of an authorised signatory of the Additional Guarantor certifying that each copy document listed in this Part 2 of Schedule 2 (Conditions
Precedent) is correct, complete and in full force and effect as at a date no earlier than the date of the Accession Letter. 

  

	7.	A copy of any other Authorisation or other document, opinion or assurance which the Lender considers to be necessary (acting reasonably) in connection with the entry
into and performance of the transactions contemplated by the Accession Letter or for the validity and enforceability of any Finance Document against the relevant Additional Guarantor. 

  
 42 

 Part 3 
 Conditions Subsequent 
  

	1.	Original Obligors 

  

	 	(a)	A copy of the constitutional documents of each Original Obligor and the Security Provider, including: 

 

	 	(i)	in relation to each Original Obligor and the Security Provider incorporated in the Russian Federation: 

 

	 	(A)	certified copies of the current charter of each such Original Obligor, all amendments to such current charter and certificates of registration of the current charter
and the amendments thereto; 

  

	 	(B)	certified copies of the certificates of registration of each such Original Obligor as legal entity and as tax payer; 

 

	 	(C)	a certified copy or an original of an extract from the Unified State Register of Legal Entities of the Russian Federation in relation to such Original Obligor issued by
a competent tax authority dated no earlier than 30 days prior to the date of this Agreement; 

  

	 	(D)	a certified copy of the documents appointing the sole executive body of such Original Obligor; 

 

	 	(E)	a certified copy of the documents appointing the chief accountant of such Original Obligor; 

 

	 	(b)	If the relevant local counsel to the Lender advises the Lender that resolutions are required under the relevant local law, a copy of the resolutions of the competent
governing body of each Original Obligor and the Security Provider: 

  

	 	(i)	approving the terms of, and the transactions contemplated by, the Finance Documents to which it is a party and resolving that it execute the Finance Documents to which
it is a party; 

  

	 	(ii)	authorising a specified person or persons to execute the Finance Documents to which it is a party on its behalf; and 

 

	 	(iii)	authorising a specified person or persons, on its behalf, to sign and/or despatch all documents and notices to be signed and/or despatched by it under or in connection
with the Finance Documents to which it is a party. 

  

	 	(c)	A specimen of the signature of each person authorised by the resolution referred to in paragraph (b) above. 

 

	 	(d)	If necessary under the relevant local law, a copy of a resolution signed by all the holders of the issued shares in each Original Guarantor and the Security Provider,
approving the terms of, and the transactions contemplated by, the Finance Documents to which the Original Guarantor or the Security Provider is a party. 

  

	 	(e)	A certificate of an authorised signatory of the relevant Original Obligor and the Security Provider certifying that each copy document relating to it specified in this
Part 3 of Schedule 2 is correct, complete and in full force and effect as at a date no earlier than the date of this Agreement. 

  
 43 

	2.	Finance Documents 

 An
original of the following Transaction Security Documents duly notarised and re-executed by the relevant Obligors and the Security Provider (as applicable): 
  

	 	(a)	Agreements on pledge of goods in circulation executed by each Russian Alcohol Group Companies; and 

 

	 	(b)	Agreements on pledge of goods in circulation executed by each Whitehall Group Companies. 

 

	3.	Perfection Requirements 

  

	 	(a)	Russian law requirements in relation to the Transaction Security Documents: 

 

	 	(i)	in relation to each Transaction Security Document, executed by an Original Obligor and the Security Provider incorporated in the Russian Federation, originals or copies
of extracts from the pledge book of the relevant company; and 

  

	 	(ii)	consent of the respective preceding pledgeholder(s) (if required) for the creation of a subsequent pledge under the respective Agreement on pledge of goods in
circulation (if applicable). 

  
 44 

 Schedule 3 
 Form of Accession Letter 
  

			
	To:	  	[—]
		
	From:	  	[Subsidiary] and Central European Distribution Corporation
		
	Dated:	  	[—]
		
	Dear Sirs	  	

 Central European Distribution Corporation – USD50,000,000 Facility Agreement 

dated      February 2013 (the “Agreement”) 

 

	1.	We refer to the Agreement. This is an Accession Letter. Terms defined in the Agreement have the same meaning in this Accession Letter unless given a different meaning
in this Accession Letter. 

  

	2.	[Subsidiary] agrees to become an Additional Guarantor and to be bound by the terms of the Agreement as an Additional Guarantor pursuant to Clause 19.2
(Additional Guarantors) of the Agreement. [Subsidiary] is a company duly incorporated under the laws of [name of relevant jurisdiction]. 

 

	3.	[Subsidiary’s] administrative details are as follows: 

  

			
	Address:	  	[—]
		
	Fax No:	  	[—]
		
	Attention:	  	[—]

  

	4.	This Accession Letter and any non-contractual obligations arising out of or in connection with it are governed by English law. 

 

			
	
}
	 	
	 	  

[Borrower]

		
	
}
	 	
	 	  

[Subsidiary]

  
 45 

 Schedule 4 
 Obligations on Granting of Pledge Under Agreements on Pledge of Goods in Circulation 

Unless otherwise defined in this Schedule 4, capitalised terms have the meaning given to them in this Agreement. 

 

	1.	DEFINITIONS 

 “Russian Alcohol
Group Companies” means: 
  

	 	(a)	JSC “Russian Alcohol Group”; 

  

	 	(b)	JSC “Distillery Topaz”; 

  

	 	(c)	OOO Parliament Production; 

  

	 	(d)	Limited Liability Company “The Trading House Russian Alcohol”; 

  

	 	(e)	Limited Liability Company TH Russian Alcohol North-West; 

  

	 	(f)	Limited Liability Company TH Russian Alcohol Siberia; and 

  

	 	(g)	Limited Liability Company Trade House Russian Alcohol Moscow. 

 “Whitehall Group Companies” means: 
  

	 	(a)	OOO Whitehall-Center; 

  

	 	(b)	OOO Whitehall-Saint-Petersburg; and 

  

	 	(c)	OOO WH Rostov-Na-Donu. 

  

	2.	OBLIGATIONS IN CONNECTION WITH AGREEMENTS ON PLEDGE OF GOODS IN CIRCULATION 

 

	2.1	Russian Alcohol Group Companies Obligations 

  

	 	(a)	The Russian Alcohol Group Companies shall ensure that the aggregate value of goods in circulation pledged under the respective Transaction Security Documents at any
time during the term of the respective Transaction Security Documents is not less than RUR1,770,000,000 calculated by reference to the balance sheet value of the goods (excluding VAT). 

 

	 	(b)	Subject to paragraph (c) below, the Russian Alcohol Group Companies shall ensure that only goods under the following brands are pledged under the respective
Transaction Security Documents, in any proportion: vodka Geen Mark (Kedrovaya, Rzhanaya, Tradicional), vodka Talka (all varieties), vodka Parliament (only regular variety), vodka Zhuravli (only regular variety). 

 

	 	(c)	 In case of absence of sufficient goods under the brands mentioned in paragraph (b) above, the Russian Alcohol Group Companies shall ensure that
goods under the following brands are pledged under the respective Transaction Security Documents, in any proportion, provided that the total aggregate value of such goods does not exceed RUR217,000,000 calculated by reference to the balance sheet
value of the 

  
 46 

	 	
goods (excluding VAT): vodka Zhuravli (Special), vodka Zhuravli (Silver), vodka Parliament (Medovaya s pertsem), vodka Urozhay (all varieties), vodka Yamskaya (all varieties).

  

	2.2	Whitehall Group Companies Obligations 

  

	 	(a)	The Whitehall Group Companies shall ensure that the aggregate value of goods in circulation pledged under the Transaction Security Documents at any time during the term
of the respective Transaction Security Documents is not less than RUR400,000,000, calculated by reference to the balance sheet value of the goods (excluding VAT) 

 

	 	(b)	Subject to paragraph (c) below, the Whitehall Group Companies shall ensure that only the goods under the following brands are pledged under the respective
Transaction Security Documents, in any proportion: cognac Hennessy, champagne Moet & Chandon, champagne Veuve Clicquot, champagne Dom Perignon, Krug, whisky Glenmorangie. 

 

	 	(c)	In case of absence of sufficient goods under the brands mentioned in paragraph (b) above, the Whitehall Group Companies shall ensure that goods under the following
brands are pledged under the respective Transaction Security Documents, in any proportion, provided that the total aggregate value of such goods does not exceed RUR200,000,000 calculated by reference to the balance sheet value of the goods
(excluding VAT): whisky Glen Clyde, tequila Jose Cuervo, vine Concha Y Toro, vine Paul Masson, vine Pascual Toso provided that the above amount of RUR200,000,000 shall be increased to RUR400,000,000 if the Whitehall Group Companies have no
effective distribution contract with Moet Hennessy Distribution Rus LLC for the distribution of Moet Hennessy Distribution Rus LLC products. 

  

	2.3	Obligation to Replenish 

If during the term of the Transaction Security Documents the obligations in paragraphs 2.1 (Russian Alcohol Group Companies
Obligations) or 2.2 (Whitehall Group Companies Obligations) above are not complied with (as regards compliance with the value and range of the pledged goods), the relevant Obligors shall replenish the pledged goods so that their aggregate
value is equal to the required amount or to otherwise restore compliance with paragraphs 2.1 or 2.2 within 10 calendar days following notification to that effect given by the Lender to the relevant Obligors, and in such event, for all purposes under
the Finance Documents, no breach of this Schedule 4 (or clause 15.3 (Terms of Collateral) shall have occurred. 

  
 47 

 Signatures 

 

									
	BORROWER	 		 		 	
				
	CENTRAL EUROPEAN DISTRIBUTION CORPORATION	 		 	}	 	
		 		 	 	 /s/ Grant Winterton

					
	Name:	 	 Grant Winterton
	 		 		 	
	Title:	 	 CEO CEDC
	 		 		 	
	Address:	 	 6 Bobrowiecka St
	 		 		 	
	 Warsaw, Poland
	 		 		 	
	  
	 		 		 	
	Fax:	 	 +48 22 45 66 001
	 		 		 	
	Attention:	 	 CEO
	 		 		 	

									
	GUARANTORS	 		 		 	
				
	CEDC FINANCE CORPORATION, LLC	 		 	}	 	
		 		 	 	 /s/ Grant Winterton

					
	Name:	 	 Grant Winterton
	 		 		 	
	Title:	 	 CEO CEDC
	 		 		 	
	Address:	 	 6 Bobrowiecka St
	 		 		 	
	 	 	Warsaw, Poland	 		 		 	
	  
	 		 		 	
	Fax:	 	 +48 22 45 66 001
	 		 		 	
	Attention:	 	 CEO
	 		 		 	

									
	BOLS HUNGARY KFT	 		 	}	 	
		 		 	 	 /s/ Mariusz Chrobot

					
	Name:	 	 Mariusz Chrobot
	 		 		 	
	Title:	 	 Managing Director
	 		 		 	
	Address:	 	 Alkotas u. 50
	 		 		 	
	 	 	1123 Budapest	 		 		 	
	 	 	Hungary	 		 		 	
	Fax:	 	 +361 325 25 01
	 		 		 	
	Attention:	 	 Managing Director
	 		 		 	

									
	COPECRESTO ENTERPRISES LIMITED	 		 	}	 	
		 		 	 	 /s/ Grant Winterton

					
	Name:	 	 Grant Winterton
	 		 		 	
	Title:	 	 CEO CEDC
	 		 		 	
	Address:	 	 6 Bobrowiecka St
	 		 		 	
	 	 	Warsaw, Poland	 		 		 	
	  
	 		 		 	
	Fax:	 	 +48 2245 66 001
	 		 		 	
	Attention:	 	 CEO
	 		 		 	

									
	OOO PARLIAMENT DISTRIBUTION	 		 	}	 	
		 		 	 	 /s/ Vladimir Filipstev

					
	Name:	 	 Vladimir Filipstev
	 		 		 	
	Title:	 	 General Director of Managing Company
	 		 		 	
	Address:	 	 Russian Federation, 143916,
	 		 		 	
	 Moscow region, Balashika town,
	 		 		 	
	 Saltykovka micro-district, Popovka str., 5
	 		 		 	
	Fax:	 	 7 495 791 8090
	 		 		 	
	Attention:	 	 Vladimir Filipstev
	 		 		 	

									
	CEDC INTERNATIONAL SP. Z O.O.	 		 	}	 	
		 		 	 	 /s/ Evangelos Evangelou

					
	Name:	 	 Evangelos Evangelou
	 		 		 	
	Title:	 	 President of the Management Board
	 		 		 	
	Address:	 	 ul. Kowanowska 48
	 		 		 	
	 	 	64-600 Oborniki, Wielkopolskie	 		 		 	
	 	 	Poland	 		 		 	
	Fax:	 	 +48 61 297 4301
	 		 		 	
	Attention:	 	 President
	 		 		 	

									
	OOO WHITEHALL-CENTER	 		 	}	 	
		 		 	 	 /s/ Evgeny Polischuk

					
	Name:	 	 Evgeny Polischuk
	 		 		 	
	Title:	 	 General Director
	 		 		 	
	Address:	 	 33 bild 5, Dmitrovskoe shosse,
	 		 		 	
	 	 	Moscow, 127550, Russia	 		 		 	
	  
	 		 		 	
	Fax:	 	 +7 495 786 7600
	 		 		 	
	Attention:	 	 Evgeny Polischuk
	 		 		 	

									
	OOO WH IMPORT COMPANY	 		 	}	 	
		 		 	 	 /s/ Mikhail Polyakov

					
	Name:	 	 Mikhail Polyakov
	 		 		 	
	Title:	 	 Director
	 		 		 	
	Address:	 	 B. Akademicheskaya 5A,
	 		 		 	
	 	 	Moscow	 		 		 	
	 	 	Russia 125299	 		 		 	
	Fax:	 	 +7 (495) 937 9581
	 		 		 	
	Attention:	 	 M. Polyakov
	 		 		 	

									
	OOO WHITEHALL SEVERO-ZAPAD	 		 	}	 	
		 		 	 	 /s/ Kolegov Perfiri

					
	Name:	 	 Kolegov Perfiri
	 		 		 	
	Title:	 	 General Director
	 		 		 	
	Address:	 	 197343
	 		 		 	
	 St. Petersburg
	 		 		 	
	 street Serdobolskaya, 7
	 		 		 	
	Fax:	 	 (812) 492-00-47
	 		 		 	
	Attention:	 	 General Director
	 		 		 	

									
	OOO WHITEHALL-SAINT- PETERSBURG	 		 	}	 	
		 		 	 	 /s/ Mehtiev Ruslan

					
	Name:	 	 Mehtiev Ruslan
	 		 		 	
	Title:	 	 General Director
	 		 		 	
	Address:	 	 197343, St-Petersburg, street
	 		 		 	
	 Serdobolskaya, 7
	 		 		 	
	  
	 		 		 	
	Fax:	 	 (812) 492-00-47
	 		 		 	
	Attention:	 	 General Director
	 		 		 	

									
	OOO PARLIAMENT PRODUCTION	 		 	}	 	
		 		 	 	 /s/ Vladimir Filipstev

					
	Name:	 	 Vladimir Filipstev
	 		 		 	
	Title:	 	 General Director of Managing Company
	 		 		 	
	Address:	 	 Russian Federation, 143916,
	 		 		 	
	 Moscow region, Balashika town,
	 		 		 	
	 Saltykovka micro-district, Popovka str, 5
	 		 		 	
	Fax:	 	 7 495 791 8090
	 		 		 	
	Attention:	 	 Vladimir Filipstev
	 		 		 	

									
	OOO WH ROSTOV-NA-DONU	 		 	}	 	
		 		 	 	 /s/ Stefan Kulyaginov

					
	Name:	 	 Kulyaginov Stefan
	 		 		 	
	Title:	 	 General Director
	 		 		 	
	Address:	 	 54-54a z., 104/29, Ulitsa Bolshaya
	 		 		 	
	 Sadovaya, Rostov-on-Don, 544006
	 		 		 	
	  
	 		 		 	
	Fax:	 	 (863) 219-19-60
	 		 		 	
	Attention:	 	 Kulyaginov Stefan
	 		 		 	

									
	BRAVO PREMIUM LLC	 		 	}	 	
		 		 	 	 /s/ Elena Khrustaleva

					
	Name:	 	 Elena Khrustaleva
	 		 		 	
	Title:	 	 General Director
	 		 		 	
	Address:	 	 St. Petersburg, Russia
	 		 		 	
	 Liter A, 5214 Kuznetsovskaya str.
	 		 		 	
	  
	 		 		 	
	Fax:	 	 +7 812 336 4886
	 		 		 	
	Attention:	 	 General Director
	 		 		 	

									
	JSC “DISTILLERY TOPAZ”	 		 	}	 	
		 		 	 	 /s/ Vladimir Filipstev

					
	Name:	 	 Vladimir Filipstev
	 		 		 	
	Title:	 	 General Director of Managing Company
	 		 		 	
	Address:	 	 Russian Federation, 141200,
	 		 		 	
	 Moscow region, Pushkino town,
	 		 		 	
	 Oktyabrskaya str., 46
	 		 		 	
	Fax:	 	 7 495 993 3336
	 		 		 	
	Attention:	 	 Vladimir Filipstev
	 		 		 	

									
	JSC “RUSSIAN ALCOHOL GROUP”	 		 	}	 	
		 		 	 	 /s/ Vladimir Filipstev

					
	Name:	 	 Vladimir Filipstev
	 		 		 	
	Title:	 	 General Director
	 		 		 	
	Address:	 	 Russia, 129344, Moscow,
	 		 		 	
	 Eniseyskaya str., 1
	 		 		 	
	 Bldg 1
	 		 		 	
	Fax:	 	 7 495 6442010
	 		 		 	
	Attention:	 	 Vladimir Filipstev
	 		 		 	

									
	LIMITED LIABILITY COMPANY “THE TRADING HOUSE RUSSIAN ALCOHOL”	 		 	}	 	
	 		 	 	 /s/ Ryan Lee

					
	Name:	 	 Ryan Lee
	 		 		 	
	Title:	 	 General Director
	 		 		 	
	Address:	 	 3 Krasnaya Sosna Str. Moscow
	 		 		 	
	 1293377 Russia
	 		 		 	
	  
	 		 		 	
	Fax:	 	 +7 495 642 8283
	 		 		 	
	Attention:	 	 General Director
	 		 		 	

									
	LION/RALLY LUX 1 S.A.	 		 	}	 	
		 		 	 	 /s/ Grant Winterton

					
	Name:	 	 Grant Winterton
	 		 		 	
	Title:	 	 CEO CEDC
	 		 		 	
	Address:	 	 6 Bobrowiecka St
	 		 		 	
	 	 	Warsaw, Poland	 		 		 	
	  
	 		 		 	
	Fax:	 	 +48 22 45 66 001
	 		 		 	
	Attention:	 	 CEO
	 		 		 	

  

									
	LION/RALLY LUX 1 S.A.	 		 	}	 	
		 		 	 	 /s/ Richard Brekelmans

					
	Name:	 	 Richard Brekelmans
	 		 		 	
	Title:	 	 Director B
	 		 		 	
	Address:	 	 13-15 Avenue de la Liberté,
	 		 		 	
	L-1931 Luxembourg	 		 		 	
	  
	 		 		 	
	Fax:	 	 +352 268 901 69
	 		 		 	
	Attention:	 	 Director
	 		 		 	

									
	LION/RALLY LUX 2 SARL	 		 	}	 	
		 		 	 	 /s/ Grant Winterton

					
	Name:	 	 Grant Winterton
	 		 		 	
	Title:	 	 CEO CEDC
	 		 		 	
	Address:	 	 6 Bobrowiecka St
	 		 		 	
	 	 	Warsaw, Poland	 		 		 	
	  
	 		 		 	
	Fax:	 	 +48 22 45 66 001
	 		 		 	
	Attention:	 	 CEO
	 		 		 	

  

									
	LION/RALLY LUX 2 SARL	 		 	}	 	
		 		 	 	 /s/ Richard Brekelmans

					
	Name:	 	 Richard Brekelmans
	 		 		 	
	Title:	 	 Manager B
	 		 		 	
	Address:	 	 13-15 Avenue de la Liberté,
	 		 		 	
	 L-1931 Luxembourg
	 		 		 	
	  
	 		 		 	
	Fax:	 	 +352 268 901 69
	 		 		 	
	Attention:	 	 Manager
	 		 		 	

									
	LION/RALLY LUX 3 SARL	 		 	}	 	
		 		 	 	 /s/ Grant Winterton

					
	Name:	 	 Grant Winterton
	 		 		 	
	Title:	 	 CEO CEDC
	 		 		 	
	Address:	 	 6 Bobrowiecka St
	 		 		 	
	 	 	Warsaw, Poland	 		 		 	
	  
	 		 		 	
	Fax:	 	 +48 22 95 66 001
	 		 		 	
	Attention:	 	 CEO
	 		 		 	

  

									
	LION/RALLY LUX 3 SARL	 		 	}	 	
		 		 	 	 /s/ Richard Brekelmans

					
	Name:	 	 Richard Brekelmans
	 		 		 	
	Title:	 	 Manager B
	 		 		 	
	Address:	 	 13-15 Avenue de la Liberté,
	 		 		 	
	 L-1931 Luxembourg
	 		 		 	
	  
	 		 		 	
	Fax:	 	 +352 268 901 69
	 		 		 	
	Attention:	 	 Manager
	 		 		 	

									
	MID-RUSSIAN DISTILLERIES	 		 	}	 	
		 		 	 	 /s/ Arsen Oganesean

					
	Name:	 	 Arsen Oganesean
	 		 		 	
	Title:	 	 General Director
	 		 		 	
	Address:	 	 129344 Moscow Region
	 		 		 	
	 	 	Moscow, Eniseyskaya St. 1-1	 		 		 	
	  
	 		 		 	
	Fax:	 	 7 495 644 2010
	 		 		 	
	Attention:	 	 Arsen Oganesean
	 		 		 	

									
	OOO “GLAVSPIRTTIREST”	 		 	}	 	
		 		 	 	 /s/ Vladimir Filipstev

					
	Name:	 	 Vladimir Filipstev
	 		 		 	
	Title:	 	 General Director of Managing Company
	 		 		 	
	Address:	 	 Russian Federation, 141200,
	 		 		 	
	 Moscow region, Pushkino town,
	 		 		 	
	 Oktyabrskaya str., 46
	 		 		 	
	Fax:	 	 + 7 495 644 2010
	 		 		 	
	Attention:	 	 Vladimir Filipstev
	 		 		 	

									
	LIMITED LIABILITY COMPANY TH RUSSIAN ALCOHOL NORTH-WEST	 		 	}	 	
	 		 	 	 /s/ Ryan Lee

					
	Name:	 	 Ryan Lee
	 		 		 	
	Title:	 	 General Director
	 		 		 	
	Address:	 	 Letler A 15213
	 		 		 	
	 Kuznetsovskaya st. St. Petersburg
	 		 		 	
	  
	 		 		 	
	Fax:	 	 +7 812 336 4886
	 		 		 	
	Attention:	 	 General Director
	 		 		 	

									
	LIMITED LIABILITY COMPANY TH RUSSIAN ALCOHOL SIBERIA	 		 	}	 	
	 		 	 	 /s/ Ryan Lee

					
	Name:	 	 Ryan Lee
	 		 		 	
	Title:	 	 General Director
	 		 		 	
	Address:	 	 630559 Russian Federation
	 		 		 	
	 Novosibirsk region, Sibirsky LV2 Industrial area No.1
	 		 		 	
	 Novosibirsk district, Koltsovo Industrial Settlement No.1
	 		 		 	
	Fax:	 	 +7 383 363 33 98
	 		 		 	
	Attention:	 	 General Director
	 		 		 	

									
	PREMIER DISTRIBUTION COMPANY	 		 	}	 	
		 		 	 	 /s/ Sergey Pushchenskiy

					
	Name:	 	 Sergey Pushchenskiy
	 		 		 	
	Title:	 	 Director
	 		 		 	
	Address:	 	 Building A
	 		 		 	
	 2nd Konstantinovskaya Street, Kyiv,
	 		 		 	
	 Ukraine 04071
	 		 		 	
	Fax:	 	 +380 44 569 62 62
	 		 		 	
	Attention:	 	 Director
	 		 		 	

									
	LENDER	 		 		 	
				
	ROUST TRADING LTD	 		 	}	 	
		 		 	 	 /s/ Nelia Nuriakhmetova

					
	Name:	 	 Nelia Nuriakhmetova
	 		 		 	
	Title:	 	 Director
	 		 		 	
	Address:	 	 Roust Trading Ltd. 25 Belmont
	 		 		 	
	 Hills Drive, Warwick WK 06, Bermuda
	 		 		 	
	  
	 		 		 	
	Fax:	 	 (1441) 236-1984
	 		 		 	
	Attention:	 	 Mr. Wendell HollisEX-10.1

 Exhibit 10.1 
 AMENDMENT NUMBER ONE TO CREDIT AGREEMENT, AMENDMENT NUMBER ONE TO GUARANTY AND SECURITY AGREEMENT, AND WAIVER 
 THIS AMENDMENT NUMBER ONE TO CREDIT AGREEMENT, AMENDMENT NUMBER ONE TO GUARANTY AND SECURITY AGREEMENT, AND WAIVER (this “Amendment”), dated as of June 14, 2013, is entered
into by and among the lenders identified on the signature pages hereof (such Lenders, together with their respective successors and permitted assigns, are referred to hereinafter each individually as a “Lender” and, collectively, as
the “Lenders”), WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association (“Wells Fargo”), as administrative agent for each member of the Lender Group and the Bank Product Providers (as such
terms are defined in the below referenced Credit Agreement) (in such capacity, together with its successors and assigns in such capacity, “Agent”), ERICKSON AIR-CRANE INCORPORATED, a Delaware corporation
(“EAC”), EVERGREEN HELICOPTERS, INC., an Oregon corporation (“Evergreen”) (Evergreen, together with EAC, are referred to hereinafter each individually as a “Borrower”, and individually and
collectively, jointly and severally, as the “Borrowers”), the Subsidiaries of Borrowers identified on the signature pages hereof (such Subsidiaries are referred to hereinafter each individual as a “Guarantor”, and
individually and collectively, jointly and severally, as the “Guarantors”), and in light of the following: 

W I T N E S S E T H 

WHEREAS, Lenders, Agent, Wells Fargo, as lead arranger, book runner, syndication agent, and documentation agent, and Borrowers
are parties to that certain Credit Agreement, dated as of May 2, 2013 (as amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”); 

WHEREAS, Agent, Borrowers, and Guarantors are parties to that certain Guaranty and Security Agreement, dated as of May 2,
2013 (as amended, restated, supplemented, or otherwise modified from time to time, the “Guaranty and Security Agreement”); 
 WHEREAS, Borrowers have requested that Agent and Lenders make certain amendments to the Credit Agreement and the Guaranty and Security Agreement; 

WHEREAS, upon the terms and conditions set forth herein, Agent and Lenders are willing to accommodate Borrowers’ requests.

 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1.
Defined Terms. All initially capitalized terms used herein (including the preamble and recitals hereof) without definition shall have the meanings ascribed thereto in the Credit Agreement (including Schedule 1.1 thereto), as amended
hereby. 
 2. Amendments to Loan Documents. 
 (a) Effective as of the Closing Date, Sections 4.29 and 5.18 of the Credit Agreement are hereby amended and modified by deleting the references to “and Evergreen Equity” and
replacing them with “and Evergreen Alaska”. 

  
 1 

 (b) Effective as of the Closing Date, Sections 4.31, 4.32, 4.33,
4.34, and 4.35 of the Credit Agreement are hereby amended and modified by amending and restating such Sections in their entirety as follows: 
 “4.31 Spare Parts. 
 (a) The Spare Parts Loan Parties keep
correct and accurate records itemizing and describing the type, quality, and quantity of their Spare Parts. The Spare Parts Loan Parties have full legal and beneficial ownership to such Spare Parts, free and clear of all Liens. 

(b) Each Rotable, Expendable, and other Spare Part that is identified by Borrowers as Eligible Inventory in the most recent Borrowing
Base Certificate submitted to Agent (i) is, as of the date of such Borrowing Base Certificate, of good and merchantable quality, free from material defects, serviceable in accordance with each Spare Parts Loan Party’s Maintenance Program
and its manufacturer’s limits, in good operating condition and ready for immediate use or operation in accordance with each Spare Parts Loan Party’s Maintenance Program and has all serviceability tags applicable thereto and all related
applicable back to birth records and all other documents required by the FARs, (ii) is, as of the date of such Borrowing Base Certificate, not excluded as ineligible by virtue of one or more of the excluding criteria set forth in the definition
of Eligible Inventory, (iii) is, as of the date of such Borrowing Base Certificate, accurately described in such Borrowing Base Certificate (including by manufacturer’s serial number or manufacturer’s part number, as applicable, if a
serialized Spare Part that the Spare Parts Loan Parties customarily track by serial number and location, and as to whether it is a Rotable or Expendable), and (iv) is not installed on an Aircraft or Engine. 

(c) (i) Except to the extent expressly permitted by Section 5.19(b) or Section 5.19(e), the Spare Parts of the
Spare Parts Loan Parties are in the possession and control of the Spare Parts Loan Parties, held for use in Spare Parts Loan Parties’ business, and only located at the locations identified on Schedule E-3 of this Agreement (as such
Schedule may be updated from time to time pursuant to Section 5.2 and Schedule 5.2 thereto); and (ii) except for Spare Parts that are identified by Borrowers in the most recent Borrowing Base Certificate submitted to Agent
and owned by Evergreen or Evergreen Alaska and Spare Parts owned by Evergreen or Evergreen Alaska and located at the designated locations set forth in the Spare Parts Security Agreement recorded with the FAA, there is no Eligible Inventory
(including “appliances” and “spare parts” as defined in 49 CFR) owned or maintained by or for or on behalf of an “air carrier” certificated under 49 USC 44705. 

(d) The most recently delivered Spare Parts Inventory system/perpetual report delivered to Agent contains a list of all Spare Parts of
the Spare Parts Loan Parties as of the date of delivery and includes the item numbers and names, country codes, item group codes, status codes, warehouse codes, on hand amount, inventory value, and all other information reasonably requested by
Agent) (delivered electronically in an acceptable format, if the Borrowers have implemented electronic reporting). The Spare Parts listed on such report are covered by Warranties applicable thereto that are at least as extensive as the warranties
that are maintained by similarly situated businesses in accordance with industry practice, and such Warranties are transferable at least to the extent that similar warranties are transferable in accordance with industry practice. 

(e) The Spare Parts owned by the Spare Parts Loan Parties and located in the United States are primarily maintained for the purposes of
installing such Spare Parts on Aircraft, Engines, Propellers, or Appliances operated by Borrowers and Evergreen Equity. 
 (f)
Each Spare Parts Loan Party possesses all necessary certificates, permits, rights, authorizations and concessions and consents which are material to the repair, refurbishment or overhaul of any of its Spare Parts (to the extent such Spare Parts Loan
Party performs any of such actions) or to the maintenance, use, operation, or sale of any of its Spare Parts. 

  
 2 

 (g) Each Spare Parts Loan Party uses, stores, maintains, overhauls, repairs and refurbishes
(or causes a duly authorized FAA repair station or other duly authorized FAA overhaul vendor to maintain, overhaul, repair and refurbish) all of its Spare Parts, and maintains books and records with respect thereto, in compliance with the material
requirements of the FARs and other applicable law (including the provision of FAA serviceability tags where applicable), except for such requirements of applicable law the validity or applicability of which are being protested by a Spare Parts Loan
Party so long as (i) such protest is instituted promptly and prosecuted diligently by such Spare Parts Loan Party in good faith, (ii) there is no material risk of any sale, forfeiture, or loss of any Spare Part or diminution in value of
any Spare Part as a result of such contest, (iii) there is no risk of any criminal liability, or any material civil liability, for such Spare Parts Loan Party, Agent, or any of the Lenders as a result of such contest, (iv) Agent is
reasonably satisfied that while such contest is pending, there is no impairment of the enforceability, validity, or priority of any of the Agent’s Liens on such Spare Parts, and (v) there is no material risk of any adverse effect on the
ownership interest of such Borrower in such Spare Part. 
 (h) (i) The only Spare Parts Tracking Systems currently used by
the Spare Parts Loan Parties to track the location, use and maintenance status of their Spare Parts is Dynamics AX and AV TRACK, (ii) each of the license agreements with respect to such Spare Parts Tracking System is a non-exclusive license in
perpetuity for which Spare Parts Loan Parties paid a one-time fee and has no further on-going payment obligations of any nature whatsoever, and (iii) each Spare Parts Loan Party has duly granted a security interest in such Spare Parts Tracking
System under the Spare Parts Security Agreement, without any requirement for prior written consent of the licensor of such Spare Parts Tracking System. 
 4.32 Engines. 
 (a) Borrowers and Evergreen Equity keep correct and
accurate records itemizing and describing the type, quality, and quantity of its Engines and of all major components thereof. In the case of (i) Engines identified by Borrowers as Eligible Engines in the most recent Borrowing Base Certificate
submitted to Agent and (ii) all other Engines that are Collateral, in each case, a Borrower or Evergreen Equity have full legal and beneficial ownership to such Engines, free and clear of all Liens (other than Permitted Liens). 

(b) Each Engine that is identified by Borrowers as an Eligible Engine in the most recent Borrowing Base Certificate submitted to Agent
is, as of the date of such Borrowing Base Certificate, (i) either (A) of good and merchantable quality, free from material defects, and the Engine manufacturer’s limits, in good operating condition (ordinary wear and tear excepted)
and ready for immediate use or operation in accordance with the FARs and has all serviceability tags applicable thereto and all related applicable back to birth records and all other documents required by the FARs, or (B) is subject to Eligible
Maintenance, (ii) not excluded as ineligible by virtue of one or more of the excluding criteria set forth in the definition of Eligible Engines, and (iii) accurately described in such Borrowing Base Certificate (including by
manufacturer’s serial number). 
 (c) Except to the extent expressly permitted by Section 5.20(a), the Engines
of Borrowers or Evergreen Equity that constitute Collateral are in the possession and control of Borrowers or Evergreen Equity, held for use in Borrowers’ or Evergreen Equity’s business and, other than Engines that are the subject of a
Permitted Airframe Installation, are only located at the locations identified on Schedule E-2 (as such schedule may be updated pursuant to Section 5.2 (and Schedule 5.2 thereof). 

  
 3 

 (d) Annex A of each of the Aircraft and Engines Security Agreements contains a true
and complete summary description by manufacturer, model and serial number of all of the Eligible Engines, as of each date that this representation and warranty is given. The Eligible Engines on such Annex A are covered by Warranties
applicable thereto that are at least as extensive as the warranties and other product assurance documents that are maintained by similarly situated businesses in accordance with industry practice (including for Engines purchased on an as-is basis to
the extent applicable), and such Warranties are transferable at least to the extent that similar warranties are transferable in accordance with industry practice. The Engines owned or leased by Borrowers or Evergreen Equity are primarily maintained
for the purposes of installing such Engines on Aircraft operated by Borrowers or Evergreen Equity. 
 (e) Each of each Borrower
and Evergreen Equity possesses all necessary certificates, permits, rights, authorizations and concessions and consents which are material to the repair, refurbishment or overhaul of any of its Engines (to the extent such Borrower or Evergreen
Equity performs any of such actions) or to the maintenance, use, operation, or sale of any of its Engines. 
 (f) Each Borrower
and Evergreen Equity use, store, maintain, overhaul, repair and refurbish (or cause a duly authorized FAA repair station or other duly authorized FAA overhaul vendor to maintain, overhaul, repair and refurbish) all of their Engines, and maintain
books and records with respect thereto, in compliance with the material requirements of the FARs and other applicable law (including the provision of FAA serviceability tags and back to birth records where applicable), except for such requirements
of applicable law the validity or applicability of which are being protested by a Borrower or Evergreen Equity so long as (i) such protest is instituted promptly and prosecuted diligently by such Borrower or Evergreen Equity in good faith,
(ii) there is no material risk of any sale, forfeiture, or loss of any such Engines or diminution in value of such Engines as a result of such contest, (iii) there is no risk of any criminal liability, or any material civil liability, for
such Borrower or Evergreen Equity, Agent, or any of the Lenders as a result of such contest, (iv) Agent is satisfied that while such contest is pending, there is no impairment of the enforceability, validity, or priority of any of the
Agent’s Liens on the Engines that are Collateral, (v) no such Engines are designated as Eligible Engines in the most recent Borrowing Base Certificate delivered to Agent, (vi) there is no material risk of any adverse effect on the
ownership interest of such Borrower or Evergreen Equity (as the case may be) in the Engines that are Collateral. 
 (g) To each
Borrower’s knowledge, after due inquiry, all information concerning each Eligible Engine and all other Engines that are Collateral provided by or on behalf of Borrowers or Evergreen Equity to any appraiser at Agent’s request is true and
correct at the time so provided and no information material to the value of any Eligible Engine and all other Engines that are Collateral (including incident reports with respect to such Engine) was not included in the information provided to such
appraiser. 
 4.33 Eligible Aircraft. 
 (a) Full legal and beneficial ownership of each Aircraft identified as Eligible Aircraft in the most recent Borrowing Base Certificate is held by Borrowers or Evergreen Equity and is free and clear of all
Liens (other than Permitted Liens). 
 (b) Each Aircraft that is identified by Borrowers as an Eligible Aircraft in the most
recent Borrowing Base Certificate submitted to Agent, as of the date of such Borrowing Base Certificate, (i) is registered with the FAA in the name of a Borrower or Evergreen Equity as owner free and clear of all Liens of record with the FAA
(except those in favor of the Agent), (ii) is in good operating condition, free from material defects and is maintained in accordance with the FARs and other applicable laws and has a valid and current airworthiness certificate and other
relevant licenses and registrations, (iii) has all 

  
 4 

 
applicable serviceability tags applicable thereto and all related applicable back-to-birth records and other documents required by the FARs, (iv) is not excluded as ineligible by virtue of
one or more of the excluding criteria set forth in the definition of Eligible Aircraft, and (v) is accurately described in such Borrowing Base Certificate (including by manufacturer’s serial number and registration number) and its Engines
are accurately described in such Borrowing Base Certificate (including by manufacturer’s serial number). 
 (c) Each
Aircraft that is identified by Borrowers as an Eligible Aircraft in the most recent Borrowing Base Certificate is in the possession and control of a Borrower, Evergreen Equity, or a Person providing Eligible Maintenance. 

(d) Each Eligible Aircraft that is identified by Borrowers as an Eligible Aircraft in the most recent Borrowing Base Certificate is
covered by Warranties applicable thereto that are at least as extensive as the warranties and other product assurance documents that are maintained by similarly situated businesses in accordance with industry practice (including for Aircraft
purchased on an as-is basis to the extent applicable), and such Warranties are transferable at least to the extent that similar warranties are transferable in accordance with industry practice. 

(e) Each of each Borrower and Evergreen Equity possess all necessary certificates, permits, rights, authorizations and concessions and
consents which are material to the repair, refurbishment or overhaul of any of the Aircraft identified as Eligible Aircraft in the most recent Borrowing Base Certificate delivered to Agent or any other Aircraft that is Collateral (to the extent such
Borrower or Evergreen Equity performs any of such actions) or to the maintenance, use, operation, or sale of any such Aircraft. 
 (f) Each Borrower and Evergreen Equity use, store, maintain, overhaul, repair and refurbish (or causes a duly authorized FAA repair station or other duly authorized FAA overhaul vendor to maintain,
overhaul, repair and refurbish) all of the Aircraft identified as Eligible Aircraft in the most recent Borrowing Base Certificate delivered to Agent and all other Aircraft that is Collateral and maintains books and records with respect thereto in
compliance with the requirements of the FARs and other applicable law (including the provision of FAA serviceability tags and back to birth records where applicable), except for such requirements of applicable law the validity or applicability of
which are being protested by a Borrower or Evergreen Equity so long as (i) such protest is instituted promptly and prosecuted diligently by such Borrower or Evergreen Equity in good faith, (ii) there is no material risk of any sale,
forfeiture, or loss of any such Aircraft or diminution in value of any such Aircraft as a result of such contest, (iii) there is no risk of any criminal liability, or any material civil liability, for such Borrower or Evergreen Equity, Agent,
or any of the Lenders as a result of such contest, (iv) Agent is satisfied that while such contest is pending, there is no impairment of the enforceability, validity, or priority of any of the Agent’s Liens on such Aircraft, and
(v) there is no material risk of any adverse effect on the ownership interest of such Borrower or Evergreen Equity (as the case may be) in such Aircraft. 
 (g) Except as disclosed in a written notice from Borrowers to Agent, (i) no Aircraft that is identified by Borrowers as an Eligible Aircraft (including any related Engine) in the most recent
Borrowing Base Certificate since the date of such Borrowing Base Certificate has suffered, or become the subject of, any damage or defect the cost of repair of which is more than $2,500,000 and (ii) there are no events, conditions or
circumstances that have occurred or exist that could reasonably be expected to cause the Net Orderly Liquidation Value of such Aircraft to be less than the amount set forth in the most recent Borrowing Base Certificate provided to Agent. 

(h) All information concerning each Aircraft that is identified by Borrowers as an Eligible Aircraft in the most recent Borrowing Base
Certificate provided to any appraiser at Agent’s 

  
 5 

 
request is true and correct in all material respects at the time so provided and no information material to the value of any Eligible Aircraft (including incident reports with respect to such
Eligible Aircraft) was not included in the information provided to such appraiser. 
 4.34 FAA Certificates, Licenses, and
Permits. Each of Evergreen and Evergreen Alaska holds an air carrier operating certificate issued pursuant to Chapter 447 of Title 49 for aircraft capable of carrying 10 or more individuals or 6,000 pounds or more of cargo and each of them
is air carrier certificated under 49 U.S.C. 44705. Each of EAC and its Subsidiaries (except Evergreen and Evergreen Alaska) does not hold an air carrier operating certificate issued pursuant to Chapter 447 of Title 49 for aircraft capable of
carrying 10 or more individuals or 6,000 pounds or more of cargo and none of them is an air carrier certificated under 49 U.S.C. 44705. Each of EAC and each of its Subsidiaries possesses all necessary certificates, franchises, air carrier and other
licenses, permits, rights, authorizations and concessions and consents which are material to the operation of Aircraft operated by it and routes flown by it and the conduct of its business and operations as currently conducted. None of EAC nor any
of its Subsidiaries has received any citation, notice, letter, order, findings, or other communication from any Governmental Authority declaring or suggesting that any Loan Party is, or may be, in violation of the FARs in connection with any aspect
of its business. 
 4.35 Other FAA Certificates, Licenses, and Permits. Each of Evergreen and Evergreen Alaska is
an “air carrier” as defined in 49 U.S.C. Section 41102(a). EAC is not an “air carrier” as defined in 49 U.S.C. Section 41102(a). Each of EAC and each of its Subsidiaries possesses all necessary certificates, franchises,
air carrier and other licenses, permits, rights, authorizations and concessions and consents which are material to the operation of Aircraft operated by it and routes flown by it and the conduct of its business and operations as currently
conducted.” 
 (c) Effective as of the Closing Date, Section 5.6 of the Credit Agreement is hereby amended and
modified by (i) deleting the reference to “each Borrower’s Spare Parts,” and replacing such reference with “each Spare Parts Loan Party’s Spare Parts,”, and (ii) deleting the reference to “Borrowers
(including both real and personal property)” and replacing it with “Loan Parties (including both real and personal property)”. 
 (d) Effective as of the Closing Date, Section 5.14(b) of the Credit Agreement is hereby amended and modified by replacing the reference to “Evergreen Equity” with “the other
Spare Parts Loan Parties”. 
 (e) Effective as of the Closing Date, Sections 5.19 and 5.20 of the
Credit Agreement are hereby amended and modified by amending and restating such Sections in their entirety as follows: 

“5.19 Eligible Inventory.  
 (a) (i) Keep all Eligible Inventory only at the locations in the United States; and (ii) keep all Eligible Inventory only at locations identified on Schedule E-3 (as amended pursuant to
Section 5.2 (and Schedule 5.2 thereof), (iii) keep all Eligible Inventory fully covered at not less than their book value under Borrowers’ “spares” all risk insurance policies, and (iv) keep all Eligible
Inventory from being installed or held for installation on an Aircraft or Engine, or otherwise held, by, for, or on behalf an air carrier as defined in 14 CFR 49. Each Borrower shall, and shall cause each other Spare Parts Loan Party to, also
keep all Spare Parts that are Collateral and all Eligible Inventory (except to the extent such Spare Parts are the subject of a Permitted Spare Parts Installation permitted pursuant to Section 5.19(e)(ii)) in fenced areas with
readily visible signage indicating that the Spare Parts located at such location are subject to a Lien in favor of Agent. 

  
 6 

 (b) Keep all Spare Parts and other Inventory (except to the extent the subject of a
Permitted Spare Parts Installation permitted pursuant to Section 5.19(e)) of the Spare Parts Loan Parties not designated as Eligible Inventory only at the locations identified on Schedule E-3 (as amended pursuant to
Section 5.2 (and Schedule 5.2 thereof) and not permit any Spare Parts or other Inventory to be located at the premises of or otherwise put into the possession or control of any bailee, warehouseman, FAA repair station, servicer,
mechanic, vendor, supplier, or other Person unless a Collateral Access Agreement has been put in place with such Person), provided that: (i) Borrowers may amend Schedule E-3 pursuant to Section 5.2 (and Schedule
5.2 thereof) to add additional locations so long as: (A) such amendment occurs by written notice to Agent not less than 10 Business Days prior to the date on which any Spare Parts are moved to such new location, and (B) such new
location is within the United States; (ii) any Spare Part that is not Eligible Inventory may be transported to or from, or be in the possession of or under the control of, a bailee, warehouseman, FAA repair station, overhaul or maintenance
servicer, mechanic, or similar Person for purposes of repair in the ordinary course of Borrowers’ business without a Collateral Access Agreement so long as either (A) no Event of Default has occurred and is continuing or would result
therefrom, or (B) the aggregate book value of all such Spare Parts in the possession of or under the control of all such Persons, in the aggregate, does not exceed $2,000,000; (iii) so long as such transit is in the United States and in
the ordinary course of Borrowers’ business, the Spare Parts Loan Parties may move Spare Parts that are not Eligible Inventory to any location identified on Schedule E-3; (iv) so long as (A) no Event of Default has occurred
and is continuing or would result therefrom, (B) such transit is in the ordinary course of Borrowers’ business, and (C) the aggregate book value of all Spare Parts moved to all such foreign locations, in the aggregate, does not
exceed $2,500,000 (provided that Spare Parts at such foreign locations shall not count against the dollar amount of Spare Parts permitted to be maintained with third parties pursuant to Section 5.19(b)(ii)(B)), the Spare Parts
Loan Parties may move Spare Parts that are not Eligible Inventory to any location outside the United States (including locations outside the United States where such Spare Parts are in the possession of or under the control of a bailee,
warehouseman, FAA repair station, overhaul or maintenance servicer, mechanic, or similar Person); (v) so long as such transit is in the ordinary course of Borrowers’ business, the Spare Parts Loan Parties may move Spare Parts that are
not Eligible Inventory from any location outside the United States to any other location outside the United States; (vi) so long as such transit is in the ordinary course of Borrowers’ business, the Spare Parts Loan Parties may move Spare
Parts that are not Eligible Inventory to the location of Aircraft, Engines, flight simulators or other Equipment to complete a Permitted Spare Parts Installation that is permitted pursuant to Section 5.19(e); and (vii) the Spare
Parts Loan Parties may move Spare Parts that are not Eligible Inventory pursuant to pool, exchange or lease transactions permitted pursuant to Section 5.19(e). 
 (c) Maintain in effect a Spare Parts Tracking System. 
 (d) Maintain, with
respect to Spare Parts, all records, logs, serviceability tags and other documents and materials required by applicable law, including the FARs, or by the Spare Parts Loan Parties’ Maintenance Program. 

(e) Not permit any Spare Parts to be leased, sold, exchanged, attached or installed on any Aircraft, Engine, flight simulator, or other
Equipment, or otherwise disposed of; provided, however, that (i) so long as no Overadvance is outstanding or would result therefrom (after having removed any such Eligible Inventory from the Borrowing Base), the Spare Parts Loan
Parties may sell Spare Parts that are not Eligible Inventory in the ordinary course of Borrowers’ business, (ii) so long as no Overadvance is outstanding or would result therefrom, Borrowers may make Permitted Spare Parts Installations
with Eligible Inventory, (iii) the Spare Parts Loan Parties may make Permitted Spare Parts Installations with Spare Parts (other than Eligible Inventory), and (iv) with respect to Spare Parts that are not Eligible Inventory, the Spare
Parts Loan Parties may pool, exchange, or lease such Spare Parts in the ordinary course of business so long as (x) no Event of Default has occurred and is continuing or would result therefrom and (y) the aggregate book value of all such
Spare Parts, in the aggregate, does not exceed $1,000,000. 

  
 7 

 (f) Each Borrower, on behalf of each of its Subsidiaries, hereby waives any and all rights
that it has or may have in the future to assert or claim against Agent or any of the Lenders or any transferee pursuant to the exercise of remedies under any of the Loan Documents, any mechanic’s, repairer’s, servicer’s, storer’s
or other Lien against any Collateral, including any Spare Parts, Engines, or Aircraft constituting Collateral. Not permit any of its Spare Parts to be located at the premises of or otherwise put into the possession or control of any bailee,
warehouseman, FAA repair station, servicer, mechanic, vendor, supplier, or similar Person except: that any Spare Part that is not an Eligible Inventory may be in the possession of or under the control of a bailee, warehouseman, FAA repair station,
overhaul or maintenance servicer, mechanic, or similar Person to the extent expressly permitted by (but without duplication of) Section 5.19(b).” 
 5.20 Eligible Engines. 
 (a) (i) Keep each Engine identified as an
Eligible Engine in any Borrowing Base Certificate in an Aircraft identified as an Eligible Aircraft in such Borrowing Base Certificate; (ii) keep each Engine that is Collateral (A) only at the locations identified to Agent pursuant to
Section 5.2 (and Schedule 5.2 thereof); (B) only at a location in a country that is signatory to the Geneva Convention or the Cape Town Convention, (C) at all times fully covered at not less than their Net Orderly
Liquidation Value under Borrowers’ “spares” all risk policies while in such transit (and all such Spare Parts in transit at any time are fully covered at not less than the book value under Borrower’s “spares” all risk
policies); and (iii) notify Agent of new locations owned or leased by a Loan Party on which Eligible Engines or Engines that are Collateral are located so long as (A) such notice occurs by written notice to Agent not less than 20 days
prior to the date on which any Engines are moved to such new location, (B) such new location is in a country that is signatory to the Geneva Convention or the Cape Town Convention, and (C) with respect to any such new leased location where
Engines that are not Eligible Engines inserted into Eligible Aircraft are kept, within 90 days after the time of such written notification, Borrowers provide Agent with evidence satisfactory to Agent that Borrowers have used its reasonable best
efforts to obtain a Collateral Access Agreement with respect to such new location (provided, however, that so long as Borrowers provide Agent with evidence satisfactory to Agent that Borrowers have used their reasonable best efforts to
obtain a Collateral Access Agreement with respect to such new location, if Borrowers fail to deliver to Agent such Collateral Access Agreement within 90 days of the time of such written notification, no Event of Default shall have occurred and be
continuing and Agent shall have the right to establish an additional reserve against the Borrowing Base in an aggregate amount equal to 3 months rent under the lease for each such location for which a Collateral Access Agreement has not been
delivered). 
 (b) Unless (i) such Engine is in for Eligible Maintenance or (ii) such Engine is in transit in
compliance with Section 5.20(a), not permit any Engine identified as an Eligible Engine in the most recent Borrowing Base Certificate or any Engine that is Collateral to be located at the premises of or otherwise put into the possession
or control of any bailee, warehouseman, FAA repair station, servicer, mechanic, vendor, supplier, or other Person. 
 (c)
Unless such Engine is attached to one of the Aircraft operated by a Borrower or Evergreen Equity, not permit any Engine identified as an Eligible Engine in the most recent Borrowing Base Certificate or any Engine that is Collateral to be leased,
sold, exchanged or attached or installed on any Aircraft.” 

  
 8 

 (f) Effective as of the Closing Date, Schedule 1.1 to the Credit Agreement is
hereby amended and modified by amending and restating, or adding (as applicable) the following definitions in the appropriate alphabetical order: 
 ““Certificated Air Carrier” means an “air carrier” within the meaning of Section 41102(a) of Title 49 of the United States Code, as amended.” 

““Eligible Aircraft” means EAC’s, Evergreen’s, and Evergreen Equity’s now owned or hereafter
acquired Aircraft, in each case (i) that are not excluded as ineligible by virtue of one or more of the excluding criteria set forth below, (ii) that are maintained and overhauled in conformity with the FARs and all other applicable laws,
and (iii) that comply with each of the representations and warranties respecting Eligible Aircraft made in the Loan Documents, provided, however, that such criteria may be revised from time to time by Agent in Agent’s
Permitted Discretion to address the results of any audit or appraisal performed by Agent from time to time after the Closing Date. An Aircraft shall not be included in Eligible Aircraft if: 

(a) (i) as of the Closing Date, it is not one of the Aircrafts designated on Schedule E-1, and (ii) after the Closing Date,
it is not an Aircraft helicopter owned by EAC, Evergreen, or Evergreen Equity that is identified by the parties pursuant to the appraisal process referenced in clause (j) of this definition, , 

(b) EAC, Evergreen, or Evergreen Equity (as applicable) does not have good, valid, and marketable title to such Aircraft, 

(c) the Aircraft is not registered at the FAA in the name of EAC, Evergreen, or Evergreen Equity (as applicable) as owner, 

(d) it is in short-term or long-term storage or is in the possession or control of any bailee, warehouseman, FAA repair station,
overhaul or maintenance servicer, mechanic, or other third Person except for a person providing Eligible Maintenance in the United States, 
 (e) it is subject to any lease, interchange, pooling, or other similar arrangement; 
 (f) (i) it is not subject to a valid and perfected first priority Agent’s Lien (including by the filing of the Aircraft and Engine Security Agreements with the FAA and the registration of the Liens
on the International Registry), or (ii) it is not free and clear of all Liens (other than so long as the Intercreditor Agreement is in full force and effect, Liens to secure the Senior Note Indebtedness to the extent permitted by clause
(s) of the definition of Permitted Liens), 
 (g) it has not been maintained in accordance with the FARs or other
applicable law or the Loan Parties’ Maintenance Program or is not in a condition or is otherwise not available for immediate use by a Borrower or Evergreen Equity in (i) relative to EAC, its operations in compliance with the FARs and other
applicable laws and its Maintenance Program, and (ii) relative to Evergreen and Evergreen Equity, its air carrier operations in compliance with the FARs and other applicable laws and Evergreen and Evergreen Equity’s respective Maintenance
Programs, 
 (h) it (1) does not have (i) full FAA serviceability tags (and full back-to-birth traceability) for all
parts thereof as applicable, or (ii) all manuals, documents, and records required by the FARs or the Loan Parties’ Maintenance Program, or delivered or required (including to maintain the effectiveness of any Warranties) by the
manufacturer of such Aircraft or (2) unless such Aircraft is no longer under any Warranties, has any material PMA Parts, 

(i) it does not conform in all material respects to the specifications of the Aircraft at delivery from its manufacturer with all
modifications thereafter made documented with FAA and 

  
 9 

 
manufacturer approved data, or it does not conform to all applicable airworthiness directives, mandatory service bulletins, or standards, or limits imposed by the FAA or any other Governmental
Authority which has regulatory authority over such Aircraft or its use or by the manufacturer of such Aircraft and any requirements of the manufacturer relating to the availability of warranties provided by the manufacturer, 

(j) with respect to any Aircraft owned by Evergreen or Evergreen Equity or any Aircraft that has become or is becoming Eligible Aircraft
after the Closing Date, until Agent has received an appraisal thereof by an appraiser acceptable to Agent in its Permitted Discretion, the results, scope, assumptions, and methodology of which are acceptable to Agent in its Permitted Discretion, and
all other conditions precedent applicable to a Replacement Airframe (as defined in each of the Aircraft and Engine Security Agreements) in the Aircraft and Engine Security Agreements have been fulfilled with respect to such Aircraft to the
satisfaction of Agent in its Permitted Discretion, 
 (k) the Aircraft is located in or in route to a country that is not a
signatory to the Geneva Convention or the Cape Town Convention, 
 (l) Borrowers have provided written notice to Agent that
such Aircraft is intended to be the subject of a Permitted Sale-Leaseback Transaction or such Aircraft is the subject of a consummated Permitted Sale-Leaseback Transaction; provided, however, that any Aircraft that is (i) identified by written
notice of a Borrower to Agent as the intended subject of a Permitted Sale-Leaseback but that is subsequently identified as no longer being the subject of a Permitted Sale-Leaseback, and (ii) as to which a Permitted Sale-Leaseback has not been
consummated shall not be excluded from the definition of Eligible Aircraft based solely on this clause (l), 
 (m) Borrowers
have not caused to be affixed to, and maintained in, the cockpit of such Aircraft, in a clearly visible location on such Aircraft and has not placed in a visible location on each Engine, a placard of reasonable size and shape bearing the legend in
English “Mortgaged to Wells Fargo Bank, N.A., as Agent”, or 
 (n) it (or any related Engine) (i) has suffered
an Event of Loss or any event which with the passage of time could reasonably be expected to cause an Event of Loss, or (ii) is the subject of a condemnation, confiscation, seizure or requisition event. 

In this Agreement, references to “Eligible Aircraft” include the Engines associated therewith, and such Engines must, in
addition to being required to qualify under this definition of Eligible Aircraft and for the representations as to Eligible Engines to be true as to such Engines, also not be excluded by virtue of any of the exclusionary criteria listed in the
definition of an Eligible Engine in order for the associated Aircraft to constitute an Eligible Aircraft. 
 Notwithstanding
the above exclusions from Eligible Aircraft, all representations, warranties and covenants applicable to Eligible Aircraft shall apply to any Aircraft designated as Eligible Aircraft in the most recent Borrowing Base Certificate delivered to
Agent.” 
 ““Eligible Engines” means each Engine of EAC, Evergreen, or Evergreen Equity that
(i) is installed in an Aircraft that meets all the eligibility criteria of Eligible Aircraft, (ii) is maintained and overhauled, in conformity with the Loan Parties’ Maintenance Program and the FARs and all other applicable laws,
(iii) complies with each of the representations and warranties respecting Eligible Engines made in the Loan Documents, and (iv) is not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided,
however, that such criteria may be revised from time to time by Agent in Agent’s Permitted Discretion to address the results of any audit or appraisal performed by Agent from time to time after the Closing Date. An Engine shall not be included
in Eligible Engines if: 
 (a) (i) as of the Closing Date, it is not one of the Engines designated on Schedule E-1, and
(ii) after the Closing Date, it is not an Engine owned by EAC, Evergreen, or Evergreen Equity that is identified by the parties pursuant to the appraisal process referenced in clause (k) of this definition, 

  
 10 

 (b) EAC, Evergreen, or Evergreen Equity (as applicable) does not have good, valid, and
marketable title thereto, 
 (c) it is not registered at the FAA in the name of EAC, Evergreen, or Evergreen Equity (as
applicable), as owner 
 (d) is not subject to a valid and perfected first priority Agent’s Lien (including by the
registration of Aircraft and Engine Security Agreements with the FAA and Cape Town) or is not free and clear of all Liens (other than so long as the Intercreditor Agreement is in full force and effect, Liens to secure the Senior Note Indebtedness to
the extent permitted by clause (s) of the definition of Permitted Liens), 
 (e) it is defective, obsolete, or
unserviceable, does not comply with all original equipment manufacturer quality assurance recommendations, is not new or has not been rehabilitated to a fully serviceable condition, has not been maintained in accordance with the FARs or other
applicable laws or the Loan Parties’ Maintenance Program, or is not in a condition or is otherwise not available for immediate use by EAC, Evergreen, or Evergreen Equity (as applicable) in its Certificated Air Carrier operations in compliance
with the FARs and other applicable laws and the Loan Parties’ Maintenance Program, 
 (f) it (1) does not have
(i) full FAA serviceability tags and full back-to-birth traceability for all parts thereof as applicable, or (ii) all manuals, documents, and records required by the FARs or other applicable laws or the Loan Parties’ Maintenance
Program, or delivered by or required (including to maintain the effectiveness of any Warranties) by the manufacturer of such Engine or (2) unless such Engine is no longer under Warranties, includes any material PMA Parts, 

(g) it does not conform in all material respects to all applicable airworthiness directives, mandatory service bulletins, or standards,
or limits imposed by any Governmental Authority which has regulatory authority over such Engine or its use or by the manufacturer of such Engine and any requirements of the manufacturer relating to the availability of warranties provided by the
manufacturer, 
 (h) Borrowers have provided written notice to Agent that such Engine is intended to be the subject of a
Permitted Sale-Leaseback Transaction or such Engine is the subject of a consummated Permitted Sale-Leaseback Transaction; provided, however, that any Engine that is (i) identified by written notice of a Borrower to Agent as the
intended subject of a Permitted Sale-Leaseback but that is subsequently identified as no longer being the subject of a Permitted Sale-Leaseback, and (ii) as to which a Permitted Sale-Leaseback has not been consummated shall not be excluded from
the definition of Eligible Engine based solely on this clause (h), 
 (i) Borrowers have not placed in a visible location on
such Eligible Engine, a placard of reasonable size and shape bearing the legend in English “Mortgaged to Wells Fargo Bank, N.A., as Agent”, 
 (j) it (i) has suffered an Event of Loss or any event which with the passage of time could reasonably be expected to cause an Event of Loss, or (ii) is the subject of a condemnation,
confiscation, seizure or requisition event, or 

  
 11 

 (k) with respect to any Engine owned by Evergreen or Evergreen Equity, or any Engine that
has become or is becoming Eligible Engine after the Closing Date, until Agent has received an appraisal thereof by an appraiser acceptable to Agent in its Permitted Discretion, the results, scope, assumptions, and methodology of which are acceptable
to Agent in its Permitted Discretion, and all other conditions precedent applicable to a Replacement Engine (as defined in each of the Aircraft and Engine Security Agreements) in the Aircraft and Engine Security Agreements have been fulfilled with
respect to such Engine to the satisfaction of Agent in its Permitted Discretion.” 
 ““Eligible
Inventory” means Spare Parts Inventory of the Spare Parts Loan Parties consisting of Serviceable New Inventory, Serviceable Used Inventory, Repairable Inventory, and Less Than $1500 Inventory and that complies with each of the
representations and warranties respecting Eligible Inventory made in the Loan Documents, and that is not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, that such criteria may be revised
from time to time by Agent in Agent’s Permitted Discretion to address the results of any field examination or appraisal performed by Agent from time to time after the Closing Date after notification thereof to Borrowers of the results of such
field examination; provided further, that the Less Than $1500 Inventory shall not exceed $8,000,000 in the aggregate at any one time. In determining the amount to be so included, Inventory shall be valued at the lower of cost or market on a
basis consistent with Borrowers’ historical accounting practices. An item of Inventory shall not be included in Eligible Inventory if: 
 (a) a Spare Parts Loan Party does not have good, valid, and marketable title thereto, 
 (b) a Spare Parts Loan Party does not have actual and exclusive possession thereof (either directly or through a bailee or agent of a Spare Parts Loan Party), 

(c) it is not located at one of the locations in the United States (including Alaska) set forth on Schedule E-3 to the Agreement
(or in-transit in the United States from one such location to another such location), as such Schedule E-3 may be updated in accordance with Section 5.2 (and Schedule 5.2 thereof) of the Agreement, 

(d) it is located on real property leased by a Spare Parts Loan Party or in a contract warehouse (i.e., a business that handles
shipping, receiving, and storage of products on a contract basis), in each case, unless it is subject to a Collateral Access Agreement executed by the lessor or warehouseman, as the case may be, and unless it is segregated or otherwise separately
identifiable from goods of others, if any, stored on the premises, 
 (e) it is the subject of a bill of lading, warehouse
receipt, or other document of title, 
 (f) it is not subject to a valid and perfected first priority Agent’s Lien (and,
in particular, in the case of Evergreen, Evergreen Alaska, or any other Spare Parts Loan Party that is a Certificated Air Carrier, has not recorded a Spare Parts Security Agreement with the FAA or such Inventory is not located at the designated
location specified in such Spare Parts Security Agreement) or is not free and clear of all Liens (other than so long as the Intercreditor Agreement is in full force and effect, Liens to secure the Senior Note Indebtedness to the extent permitted by
clause (s) of the definition of Permitted Liens), 
 (g) it consists of goods returned or rejected by a Spare Parts Loan
Party’s customers, 
 (h) it consists of goods that are obsolete or slow moving, restrictive or custom items,
work-in-process, raw materials, or goods that constitute spare parts, packaging and shipping materials, supplies used or consumed in a Spare Parts Loan Party’s business, bill and hold goods, defective goods, “seconds,” or Inventory
acquired on consignment, 

  
 12 

 (i) such Inventory is insured against types of loss, damage, hazards, and risks, and in
amounts, satisfactory to Agent in its Permitted Discretion, 
 (j) such Inventory consists of appliances or spare parts as
defined in 14 CFR 49 that are held for installation on an Aircraft or Engine, or otherwise held, by, for, or on behalf an air carrier as defined in 14 CFR 49, 
 (k) it is subject to third party trademark, licensing or other proprietary rights, unless Agent is satisfied that such Inventory can be freely sold by Agent on and after the occurrence of an Event of a
Default despite such third party rights, or 
 (k) with respect to any Inventory owned by any Spare Parts Loan Party other than
EAC or any Inventory that has become or is becoming Eligible Inventory after the Closing Date, such Inventory shall not be Eligible Inventory until Agent has received an appraisal an field examination thereof by an appraiser and field examiner
acceptable to Agent in its Permitted Discretion, the results, scope, assumptions, and methodology of which are acceptable to Agent in its Permitted Discretion.” 
 ““Evergreen Alaska” means Evergreen Helicopters of Alaska, Inc., an Alaska corporation.” 
 ““Evergreen International” means Evergreen Helicopters International, Inc., a Texas corporation.” 
 ““Fixed Charges” means, with respect to any fiscal period and with respect to Borrowers determined on a consolidated basis in accordance with GAAP, the sum, without duplication, of
(a) Interest Expense accrued (other than interest paid-in-kind, amortization of financing fees, and other non-cash Interest Expense) during such period, (b) scheduled amortization principal payments in respect of Indebtedness that are
required to be paid during such period, and (c) all federal, state, and local income taxes paid or required to be paid during such period, (d) all management, consulting, monitoring, and advisory fees paid to Sponsor or its Affiliates
during such period, (e) all Restricted Payments (other than Permitted Intercompany Advances) paid in cash during such period (other than any Equity Proceeds Restricted Payment), and (f) the Permitted Preferred Stock Dividend.”

 ““Guarantor” means (a) EAC Acquisition Corporation, a Delaware corporation, (b) Evergreen
Equity, (c) Evergreen Alaska, (d) Evergreen International, (e) each other Subsidiary of EAC that is not a Borrower (other than Foreign Subsidiaries), and (f) each other Person that becomes a guarantor after the Closing Date
pursuant to Section 3.6 or 5.11 of the Agreement.” 
 ““Maintenance Program” means
an FAA approved maintenance program for each Loan Party’s Aircraft, Engines, and Spare Parts in accordance with the applicable manufacturer’s maintenance planning document and maintenance manuals.” 

““Spare Parts Loan Party” means each of Borrower, Evergreen Equity, and Evergreen Alaska.” 

(g) Effective as of the Closing Date, Schedule 1.1 to the Credit Agreement is hereby amended and modified by: (i) deleting
the text “,” appearing before the period in the definition of “Net Orderly Liquidation Value”, (ii) replacing each reference to “Borrowers’ Maintenance Program” in the definitive of “Eligible
Maintenance” with “Loan Parties’ Maintenance Programs, 

  
 13 

 
(iii) deleting references to “Borrowers” in the definition of “Net Orderly Liquidation Value”, (iv) replacing the reference to “Borrowers” in the definition of
“Spare Parts Inventory” with “Spare Parts Loan Parties”, (v) replacing the reference to “a Borrower” in the definition of “Spare Parts Inventory” with “a Spare Parts Loan Party”,
(vi) inserting the phrase “other than with respect to Spare Parts of EAC and Evergreen Equity,” at the beginning of clause (e) of the definition of “Spare Parts Inventory”, and (vii) replacing the reference to
“Grantors” in the definition of “Spare Parts Security Agreements” with “Spare Parts Loan Parties”. 
 (h) Schedule 1.1 to the Credit Agreement is hereby amended and modified by replacing the reference to “$100,000,000” in the definition of “Maximum Revolver Amount” with
“$125,000,000. 
 (i) Schedule C-1 to the Credit Agreement is hereby amended and restated in its entirety in
the form of Schedule C-1 attached hereto. 
 (j) Schedule 3.6 to the Credit Agreement is hereby amended and
restated in its entirety in the form of Schedule 3.6 attached hereto. Agent hereby confirms that the conditions subsequent set forth in clauses (a), (b), (c), (d), (e), (f), (g), (p) (with respect to release documents of KeyBank National
Association), and (q) of Schedule 3.6 as in effect as of the Closing Date have been satisfied. 
 (k)
Effective as of the Closing Date, the first row of Schedule 5.1 to the Credit Agreement is hereby amended and restated in its entirety as follows: 
  

			
	commencing with the month ended May 31, 2013, as soon as available, but in any event within 30 days (45 days in the case of a month that is the end of one of Borrowers’
fiscal quarters) after the end of each month during each of Borrowers’ fiscal years	  	 (a) an unaudited consolidated and consolidating balance sheet, income statement, statement of cash flow, and statement of
shareholder’s equity covering Borrowers’ and their Subsidiaries’ operations during such period and compared to the prior period and plan, together with a corresponding discussion and analysis of results from management, and

 
 (b) a Compliance Certificate along with the underlying calculations, including the
calculations to arrive at EBITDA to the extent applicable.

 (l) Effective as of the Closing Date, Schedule 5.2 to the Credit Agreement is hereby amended
and restated in its entirety in the form of Schedule 5.2 attached hereto. 
 (m) Effective as of the Closing Date,
Section 7(i) of the Guaranty and Security Agreement is hereby amended and modified by deleting the reference to “, for the benefit of the Lender Group and the Bank Product Providers,”. 

3. Waiver. Anything to the contrary contained in the Loan Documents notwithstanding, Agent and the Lenders waive any requirement
that the Loan Parties deliver to Agent the stock certificates 

  
 14 

 
representing the Collateral consisting of Pledged Interests (each as defined in the Guaranty and Security Agreement), accompanied by stock transfer powers or other instruments of transfer duly
endorsed by an effective endorsement, in each case, in blank, for each of the below Persons: 
  

									
	 Person
	  	 Owner
	  	 Certificate No.
	  	 Owned Shares/
Equity Interests
	 
	 Lion Mines Ltd. (N.P.L.)
	  	Evergreen Helicopters, Inc.	  	11012
 11484

11485

11486

11487

12184

12186

12187
	  	 
  
  
  
  
  
  
  
	100
 500

500
 500

500
 300

500

200
	  
   

  
   

  
   

  
   

	 Continental Minerals Corporation (N.P.L.)
	  	Evergreen Helicopters, Inc.	  	03834
 03961

03962

03963
	  	 
  
  
  
	1,000
 500

500

200
	  
   

  
   

	 Clear Mines Ltd.
	  	Evergreen Helicopters, Inc.	  	01636
 01637

01638

01639

01675
	  	 
  
  
  
  
	500
 500

200
 50

500
	  
   

  
   

  

	 Sambo’s Restaurants, Inc.
	  	Evergreen Helicopters, Inc.	  	NYU19705	  	 	550	  
	 Troy Gold Industries Ltd.
	  	Evergreen Helicopters, Inc.	  	25180
 26012
	  	 
  
	300
 300
	  
   

	 Santa Sarita Mining Company Limited
	  	Evergreen Helicopters, Inc.	  	07507
 07508

07509

07510

07511

07512
	  	 
  
  
  
  
  
	500
 500

500
 500

500

200
	  
   

  
   

  
   

	 Canadian Barranca Corporation Ltd.
	  	Evergreen Helicopters, Inc.	  	14201
 14202

14203

14204
	  	 
  
  
  
	100
 50

500

500
	  
   

  
   

	 Cusac Industries Ltd.
	  	Evergreen Helicopters, Inc.	  	06250
 06251

06260

06261
	  	 
  
  
  
	500
 200

200

500
	  
   

  
   

 The Loan Parties covenant and agree to that (i) such stock certificates shall not be delivered to, or held by, any
Person other than a Loan Party or Agent and (ii) the Loan Parties shall deliver to Agent the stock certificates representing the Collateral consisting of Pledged Interests (each as defined in the Guaranty and Security Agreement), accompanied by
stock transfer powers or other instruments of transfer duly endorsed by an effective endorsement, in each case, in blank, for each of the above Persons if, as of any date of determination, the book value of such Collateral exceeds $500,000 in the
aggregate; provided that in no event shall the Loan Parties be required to comply with the foregoing with respect to any Excluded Assets (as defined in the Guaranty and Security Agreement). 

  
 15 

 4. Conditions Precedent to Amendment. The satisfaction or waiver of each of the
following shall constitute conditions precedent to the effectiveness of the Amendment: 
 (a) Agent shall have received this
Amendment, duly executed by the parties hereto, and the same shall be in full force and effect. 
 (b) Agent shall have received
that certain fee letter, dated as of the date hereof (the “Amendment Fee Letter”), duly executed and delivered by the parties thereto, and the same shall be in full force and effect. 

(c) Agent shall have received a Mortgage with respect to the Real Property Collateral at 3100 Willow Springs Road, Central Point, OR
97502 and 1993 Kirtland Road, Central Point, OR 97502, duly executed and delivered by EAC, and the same shall be in full force and effect. 
 (d) Agent shall have received a mortgagee title insurance policy (or a marked commitment to issue the same) for the Real Property Collateral at 3100 Willow Springs Road, Central Point, OR 97502 and 1993
Kirtland Road, Central Point, OR 97502, issued by Chicago Title Insurance Company or such other a title insurance company satisfactory to Agent (the “Mortgage Policy”) in amounts satisfactory to Agent assuring Agent that the
Mortgage on such Real Property Collateral is a valid and enforceable first priority mortgage Liens on such Real Property Collateral free and clear of all defects and encumbrances except Permitted Liens (as defined in the Mortgage), and the Mortgage
Policy otherwise shall be in form and substance reasonably satisfactory to Agent 
 (e) Agent shall have received a joinder to
the Guaranty and Security Agreement executed and delivered by Evergreen Unmanned Systems, Inc., as well as appropriate financing statements, together with such other security agreements as are requested by Agent to grant Agent a first priority Lien
(subject to Permitted Liens) in and to the assets of such Person, in each case, duly executed and delivered by the parties thereto, and the same shall be in full force and effect. 

(f) Borrowers shall have paid to Agent all fees required to paid pursuant to the Amendment Fee Letter on the date hereof. 

(g) The representations and warranties herein and in the Credit Agreement and the other Loan Documents as amended hereby shall be true,
correct and complete in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the date
hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall be true, correct and complete in all material respects as of
such earlier date). 
 (h) No Default or Event of Default shall have occurred and be continuing or shall result from the
consummation of the transactions contemplated herein. 
 (i) Borrowers shall have paid all fees, costs, expenses and taxes then
payable pursuant to the Credit Agreement as therein provided. 
 (j) No injunction, writ, restraining order, or other order of
any nature prohibiting, directly or indirectly, the consummation of the transactions contemplated herein shall have been issued and remain in force by any Governmental Authority against any Loan Party, Agent, or any Lender. 

  
 16 

 (k) Agent shall have received a certificate from the Secretary of each Loan Party
(i) attesting to the resolutions of such Loan Party’s board of directors authorizing its execution, delivery, and performance of this Amendment and the Amendment Fee Letter (to the extent it is a party), (ii) authorizing specific
officers of such Loan Party to execute the same, and (iii) attesting to the incumbency and signatures of such specific officers of such Loan Party. 
 (l) Agent shall have received a certificate of status or equivalent documentation with respect to each Loan Party, dated within 20 days of the date hereof, any such certificate to be issued by the
appropriate officer of the jurisdiction of organization of such Loan Party, which certificate shall indicate that such Loan Party is in good standing in such jurisdiction. 
 (m) Agent shall have received an opinion from DLA Piper (in New York, Delaware, and Texas) and the Loan Parties’ local Oregon counsel, in form and substance satisfactory to Agent. 

(n) All other documents and legal matters in connection with the transactions contemplated by this Amendment shall have been delivered,
executed, or recorded and shall be in form and substance satisfactory to Agent. 
 5. Representations and Warranties.
Each Loan Party hereby represents and warrants to Agent and the Lenders as follows: 
 (a) It (i) is duly organized and
existing and in good standing under the laws of the jurisdiction of its organization, (ii) is qualified to do business in any state where the failure to be so qualified could reasonably be expected to result in a Material Adverse Effect, and
(iii) has all requisite power and authority to own and operate its properties, to carry on its business as now conducted and as proposed to be conducted, to enter into this Amendment and the other Loan Documents to which it is a party and to
carry out the transactions contemplated hereby and thereby. 
 (b) The execution, delivery, and performance by it of this
Amendment and the other Loan Documents to which it is a party (i) have been duly authorized by all necessary action on the part of such Loan Party and (ii) do not and will not (A) violate any material provision of federal, state, or
local law or regulation applicable to such Loan Party, the Governing Documents of Borrower, or any order, judgment, or decree of any court or other Governmental Authority binding on such Loan Party, (B) conflict with, result in a breach of, or
constitute (with due notice or lapse of time or both) a default under any Material Contract of such Loan Party except to the extent that any such conflict, breach or default could not individually or in the aggregate reasonably be expected to have a
Material Adverse Effect, (C) result in or require the creation or imposition of any Lien of any nature whatsoever upon any assets of such Loan Party, other than Permitted Liens, (D) require any approval of such Loan Party’s interest
holders or any approval or consent of any Person under any Material Contract of such Loan Party, other than consents or approvals that have been obtained and that are still in force and effect and except, in the case of Material Contracts, for
consents or approvals, the failure to obtain could not individually or in the aggregate reasonably be expected to cause a Material Adverse Effect, or (E) require any registration with, consent, or approval of, or notice to, or other action with
or by, any Governmental Authority, other than registrations, consents, approvals, notices, or other actions that have been obtained and that are still in force and effect and except for filings and recordings with respect to the Collateral to be
made, or otherwise delivered to Agent for filing or recordation in connection with this Amendment. 
 (c) This Amendment has
been duly executed and delivered by each Loan Party. This Amendment and each Loan Document to which such Loan Party is a party is the legally valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its
respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally. 

  
 17 

 (d) No injunction, writ, restraining order, or other order of any nature prohibiting,
directly or indirectly, the consummation of the transactions contemplated herein has been issued and remains in force by any Governmental Authority against any Loan Party, Agent or any Lender. 

(e) No Default or Event of Default has occurred and is continuing as of the date of the effectiveness of this Amendment, and no condition
exists which constitutes a Default or an Event of Default. 
 (f) The representations and warranties in the Credit Agreement and
the other Loan Documents as amended hereby are true, correct and complete in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by
materiality in the text thereof) on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall be
true, correct and complete in all material respects as of such earlier date). 
 6. Payment of Costs and Fees. Borrowers
agree to pay all out-of-pocket costs and expenses of Agent (including, without limitation, the reasonable fees and disbursements of outside counsel to Agent) in connection with the preparation, negotiation, execution and delivery of this Amendment
and any documents and instruments relating hereto. 
 7. Release. 

(a) Each Loan Party hereby acknowledges and agrees that as of June 12, 2013, the aggregate outstanding principal amount of Loans
under the Credit Agreement and the other Loan Documents was $32,205,856 and that such principal amount is payable pursuant to the Credit Agreement and the other Loan Documents as modified hereby without defense, offset, withholding, counterclaim, or
deduction of any kind. 
 (b) Effective on the date hereof, each Loan Party, for itself and on behalf of its successors,
assigns, and officers, directors, employees, agents and attorneys, and any Person acting for or on behalf of, or claiming through it, hereby waives, releases, remises and forever discharges each member of the Lender Group, each Bank Product
Provider, and each of their respective Affiliates, and each of their respective successors in title, past, present and future officers, directors, employees, limited partners, general partners, investors, attorneys, assigns, subsidiaries,
shareholders, trustees, agents and other professionals and all other persons and entities to whom any member of the Lenders would be liable if such persons or entities were found to be liable to such Loan Party (each a “Releasee”
and collectively, the “Releasees”), from any and all past, present and future claims, suits, liens, lawsuits, adverse consequences, amounts paid in settlement, debts, deficiencies, diminution in value, disbursements, demands,
obligations, liabilities, causes of action, damages, losses, costs and expenses of any kind or character, whether based in equity, law, contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law (each a
“Claim” and collectively, the “Claims”), whether known or unknown, fixed or contingent, direct, indirect, or derivative, asserted or unasserted, matured or unmatured, foreseen or unforseen, past or present,
liquidated or unliquidated, suspected or unsuspected, which such Loan Party ever had from the beginning of the world to the date hereof, or now has, against any such Releasee which relates, directly or indirectly to the Credit Agreement, any other
Loan Document, or to any acts or omissions of any such Releasee with respect to the Credit Agreement or any other Loan Document, or to the lender-borrower relationship evidenced by the Loan Documents, except for the duties and obligations set forth
in any of the Loan Documents or in this Amendment. As to each 

  
 18 

 
and every Claim released hereunder, each Loan Party hereby represents that it has received the advice of legal counsel with regard to the releases contained herein, and having been so advised,
specifically waives the benefit of the provisions of Section 1542 of the Civil Code of California which provides as follows: 
 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH A CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM, MUST HAVE MATERIALLY AFFECTED
HIS SETTLEMENT WITH THE DEBTOR.” 
 As to each and every Claim released hereunder, each Loan Party also waives the benefit
of each other similar provision of applicable federal or state law (including without limitation the laws of the state of California), if any, pertaining to general releases after having been advised by its legal counsel with respect thereto.

 Each Loan Party each acknowledges that it may hereafter discover facts different from or in addition to those now known or
believed to be true with respect to such Claims and agrees that this instrument shall be and remain effective in all respects notwithstanding any such differences or additional facts. Each Loan Party understands, acknowledges and agrees that the
release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such
release. 
 (c) Each Loan Party, for itself and on behalf of its successors, assigns, and officers, directors, employees, agents
and attorneys, and any Person acting for or on behalf of, or claiming through it, hereby absolutely, unconditionally and irrevocably, covenants and agrees with and in favor of each Releasee above that it will not sue (at law, in equity, in any
regulatory proceeding or otherwise) any Releasee on the basis of any Claim released, remised and discharged by such Person pursuant to the above release. If any Loan Party or any of its respective successors, assigns, or officers, directors,
employees, agents or attorneys, or any Person acting for or on behalf of, or claiming through it violate the foregoing covenant, such Person, for itself and its successors, assigns and legal representatives, agrees to pay, in addition to such other
damages as any Releasee may sustain as a result of such violation, all attorneys’ fees and costs incurred by such Releasee as a result of such violation. 
 8. Choice of Law and Venue; Jury Trial Waiver; Judicial Reference. THIS AMENDMENT SHALL BE SUBJECT TO THE PROVISIONS REGARDING CHOICE OF LAW AND VENUE, JURY TRIAL WAIVER, AND JUDICIAL REFERENCE SET
FORTH IN SECTION 12 OF THE CREDIT AGREEMENT, AND SUCH PROVISIONS ARE INCORPORATED HEREIN BY THIS REFERENCE, MUTATIS MUTANDIS. 
 9. Amendments. This Amendment cannot be altered, amended, changed or modified in any respect or particular unless each such alteration, amendment, change or modification is made in accordance with
the terms and provisions of Section 14.1 of the Credit Agreement. 
 10. Counterpart Execution. This
Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, taken together shall constitute but
one and the same agreement. Delivery of an executed counterpart of this Amendment by facsimile or other electronic method of transmission shall be equally effective as delivery of an original executed counterpart of this Amendment. Any party
delivering an executed counterpart of this Amendment by facsimile or other electronic method of transmission also shall deliver an original executed counterpart of this Amendment, but the failure to deliver an original executed counterpart shall not
affect the validity, enforceability, and binding effect of this Amendment. 

  
 19 

 11. Effect on Loan Documents. 

(a) The Credit Agreement, as amended hereby, and each of the other Loan Documents, as amended as of the date hereof, shall be and remain
in full force and effect in accordance with their respective terms and hereby are ratified and confirmed in all respects. The execution, delivery, and performance of this Amendment shall not operate, except as expressly set forth herein, as a waiver
of, consent to, or a modification or amendment of, any right, power, or remedy of Agent or any Lender under the Credit Agreement or any other Loan Document. Except for the amendments to the Credit Agreement and the Guaranty and Security Agreement
expressly set forth herein, the Credit Agreement and the other Loan Documents shall remain unchanged and in full force and effect. 
 (b) Upon and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “herein”, “hereof” or words of like
import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “therein”, “thereof” or words of like import referring to the Credit Agreement,
shall mean and be a reference to the Credit Agreement as modified and amended hereby. 
 (c) Upon and after the effectiveness
of this Amendment, each reference in the Guaranty and Agreement to “this Agreement”, “hereunder”, “herein”, “hereof” or words of like import referring to the Guaranty and Security Agreement, and each reference
in the other Loan Documents to “the Guaranty and Security Agreement”, “thereunder”, “therein”, “thereof” or words of like import referring to the Guaranty and Security Agreement, shall mean and be a reference
to the Guaranty and Security Agreement as modified and amended hereby. 
 (d) To the extent that any of the terms and
conditions in any of the Loan Documents shall contradict or be in conflict with any of the terms or conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions are hereby deemed modified or amended
accordingly to reflect the terms and conditions of the Credit Agreement and the Guaranty and Security Agreement as modified or amended hereby. 
 (e) This Amendment is a Loan Document. 
 (f) Unless the context of this Amendment
clearly requires otherwise, references to the plural include the singular, references to the singular include the plural, the terms “includes” and “including” are not limiting, and the term “or” has, except where
otherwise indicated, the inclusive meaning represented by the phrase “and/or”. The words “hereof”, “herein”, “hereby”, “hereunder”, and similar terms in this Agreement refer to this Agreement as a
whole and not to any particular provision of this Agreement. Section, subsection, clause, schedule, and exhibit references herein are to this Agreement unless otherwise specified. Any reference in this Agreement to any agreement, instrument, or
document shall include all alterations, amendments, changes, extensions, modifications, renewals, replacements, substitutions, joinders, and supplements, thereto and thereof, as applicable (subject to any restrictions on such alterations,
amendments, changes, extensions, modifications, renewals, replacements, substitutions, joinders, and supplements set forth herein). 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. Any reference herein to any Person shall be construed to include such Person’s successors and assigns. 

  
 20 

 12. Entire Agreement. This Amendment, and the terms and provisions hereof, the Credit
Agreement and the other Loan Documents constitute the entire understanding and agreement between the parties hereto with respect to the subject matter hereof and supersede any and all prior or contemporaneous amendments or understandings with
respect to the subject matter hereof, whether express or implied, oral or written. 
 13. Reaffirmation of Obligations.
Each Loan Party hereby reaffirms its obligations under each Loan Document to which it is a party. Each Loan Party hereby further ratifies and reaffirms the validity and enforceability of all of the Liens and security interests heretofore granted,
pursuant to and in connection with the Guaranty and Security Agreement, the Aircraft and Engine Security Agreement, or any other Loan Document, to Agent, as collateral security for the obligations under the Loan Documents in accordance with their
respective terms, and acknowledges that all of such Liens and security interests, and all collateral heretofore pledged as security for such obligations, continue to be and remain collateral for such obligations from and after the date hereof. Each
Loan Party hereby further does grant to Agent, for the benefit of each member of the Lender Group and the Bank Product Providers, a perfected security interest in the Collateral (as defined in the Guaranty and Security Agreement) and the Collateral
(as defined in the Aircraft and Engine Security Agreement) in order to secure all of its present and future obligations under the Loan Documents. 
 14. Severability. In case any provision in this Amendment shall be invalid, illegal or unenforceable, such provision shall be severable from the remainder of this Amendment and the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 15.
Guarantors. Each of the undersigned Guarantors consent to the amendments to the Loan Documents contained herein. Although the undersigned Guarantors have been informed of the matters set forth herein and have consented to same, each Guarantor
understands that no member of the Lender Group has any obligation to inform it of such matters in the future or to seek its acknowledgement or agreement to future consents, waivers, or amendments related to the Credit Agreement, and nothing herein
shall create such a duty. 
 [signature page follows] 

  
 21 

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

			
	ERICKSON AIR-CRANE INCORPORATED,
	a Delaware corporation
		
	By:	 	 /s/ Edward T. Rizzuti

	Name:	 	 Edward T. Rizzuti

	Title:	 	 VP, General Counsel and Corporate Secretary

	
	 EAC ACQUISITION CORPORATION, 
 a Delaware corporation

		
	By:	 	 /s/ Edward T. Rizzuti

	Name:	 	 Edward T. Rizzuti

	Title:	 	 VP, General Counsel and Corporate Secretary

	
	 EVERGREEN HELICOPTERS, INC.,
 an Oregon corporation

		
	By:	 	 /s/ Edward T. Rizzuti

	Name:	 	 Edward T. Rizzuti

	Title:	 	 VP, General Counsel and Corporate Secretary

	
	EVERGREEN HELICOPTERS OF ALASKA, INC., an Alaska corporation
		
	By:	 	 /s/ Edward T. Rizzuti

	Name:	 	 Edward T. Rizzuti

	Title:	 	 VP, General Counsel and Corporate Secretary

	
	EVERGREEN HELICOPTERS INTERNATIONAL, INC., a Texas corporation 
		
	By:	 	 /s/ Edward T. Rizzuti

	Name:	 	 Edward T. Rizzuti

	Title:	 	 VP, General Counsel and Corporate Secretary

 [SIGNATURE PAGE TO AMENDMENT NUMBER ONE TO CREDIT AGREEMENT, AMENDMENT NUMBER ONE TO GUARANTY AND
SECURITY AGREEMENT, AND WAIVER] 

 
			
	EVERGREEN EQUITY, INC.,
	a Nevada corporation
		
	By:	 	 /s/ Edward T. Rizzuti

	Name:	 	 Edward T. Rizzuti

	Title:	 	 VP, General Counsel and Corporate Secretary

  
 [SIGNATURE
PAGE TO AMENDMENT NUMBER ONE TO CREDIT AGREEMENT, AMENDMENT NUMBER ONE TO 
 GUARANTY AND SECURITY AGREEMENT, AND WAIVER]

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as Agent, Lead Arranger, Book Runner, Syndication Agent, Documentation Agent, and a
Lender
		
	By:	 	 /s/ Amelie Yehros

	Name:	 	Amelie Yehros
	Title:	 	SVP

  
 [SIGNATURE
PAGE TO AMENDMENT NUMBER ONE TO CREDIT AGREEMENT, AMENDMENT NUMBER ONE TO 
 GUARANTY AND SECURITY AGREEMENT, AND WAIVER]

 
			
	 HSBC BANK USA NA,
 as a Lender

		
	By:	 	 /s/ Tara C. O’Boyle

	Name:	 	Tara C. O’Boyle
	Title:	 	Assistant Vice President

  
 [SIGNATURE
PAGE TO AMENDMENT NUMBER ONE TO CREDIT AGREEMENT, AMENDMENT NUMBER ONE TO 
 GUARANTY AND SECURITY AGREEMENT, AND WAIVER]

 
			
	 BANK OF THE WEST,
 as a Lender

		
	By:	 	 /s/ Timothy Sobol

	Name:	 	Timothy Sobol
	Title:	 	Vice President

  
 [SIGNATURE
PAGE TO AMENDMENT NUMBER ONE TO CREDIT AGREEMENT, AMENDMENT NUMBER ONE TO 
 GUARANTY AND SECURITY AGREEMENT, AND WAIVER]

 
			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Lender
		
	By:	 	 /s/ Mary Kay Coyle

	Name:	 	Mary Kay Coyle
	Title:	 	Managing Director
		
	By:	 	 /s/ Keith C. Braun

	Name:	 	Keith C. Braun
	Title:	 	Managing Director

  
 [SIGNATURE
PAGE TO AMENDMENT NUMBER ONE TO CREDIT AGREEMENT, AMENDMENT NUMBER ONE TO 
 GUARANTY AND SECURITY AGREEMENT, AND WAIVER]

 Schedule C-1 

Commitments 
  

									
	 Lender
	  	Revolver Commitment	 	  	Total Commitment	 
	 Wells Fargo Bank, N.A.
	  	$	50,000,000	  	  	$	50,000,000	  
	 Bank of the West
	  	$	30,000,000	  	  	$	30,000,000	  
	 Deutsche Bank Trust Company Americas
	  	$	25,000,000	  	  	$	25,000,000	  
	 HSBC Bank USA NA
	  	$	20,000,000	  	  	$	20,000,000	  
		  	  
	  
	 	  	  
	  
	 
			
	 All Lenders
	  	$	125,000,000	  	  	$	125,000,000	  
		  	  
	  
	 	  	  
	  
	 

 Schedule 3.6 

(a) On or before July 1, 2013 (or such later date as agreed to by Agent in writing in its sole discretion), Agent shall have
received a Spare Parts Security Agreement for Spares Parts of the Spare Parts Loan Parties, in form and substance reasonably satisfactory to Agent and duly executed and delivered by the parties thereto, together with (i) evidence that the Spare
Parts Security Agreement has been registered with the FAA, and (ii) an opinion from FAA counsel, in form and substance reasonably satisfactory to Agent, to the effect required pursuant to the Spare Parts Security Agreement; 

(b) On or before July 1, 2013 (or such later date as agreed to by Agent in writing in its sole discretion), Agent shall have
received, opinions of the Loan Parties’ counsel in New York, Oregon, Nevada, and Alaska regarding matters as to the agreement described in clause (a) hereof as Agent or its counsel may reasonably request, and which are in form and
substance reasonably satisfactory to Agent; 
 (c) On or before August 1, 2013 (or such later date as agreed to by Agent
in writing in its sole discretion), Agent shall have received each of the following agreements, in form and substance reasonably satisfactory to Agent, duly executed and delivered by the parties thereto, and each of such agreements shall be in full
force and effect: 
 (i) an Aircraft and Engine Security Agreement for Aircraft and Engines of Evergreen, together with
(A) evidence that the International Interest (as defined in the Aircraft and Engine Security Agreement) in each Aircraft and Engine that are the subject thereof have been registered with the International Registry and the Aircraft and Engine
Security Agreement has been registered with the FAA, (B) an opinion from FAA counsel, in form and substance reasonably satisfactory to Agent, to the effect required pursuant to Section 3.1(b) of the Aircraft and Engine Security Agreement,
(C) copies of the airworthiness certificates issued by the FAA for each Aircraft, and (D) if requested by Agent, chain of title evidence for each Engine consisting of bills of sale or, in the absence of bills of sale, an invoice listing
the serial number for such Engine from the manufacturer of such Engine to Evergreen; and 
 (ii) an Aircraft and Engine
Security Agreement for Aircraft and Engines of Evergreen Equity, together with (A) evidence that the International Interest (as defined in the Aircraft and Engine Security Agreement) in each Aircraft and Engine that are the subject thereof have
been registered with the International Registry and the Aircraft and Engine Security Agreement has been registered with the FAA, (B) an opinion from FAA counsel, in form and substance reasonably satisfactory to Agent, to the effect required
pursuant to Section 3.1(b) of the Aircraft and Engine Security Agreement, (C) copies of the airworthiness certificates issued by the FAA for each Aircraft; and (D) if requested by Agent, chain of title evidence for each Engine
consisting of bills of sale or, in the absence of bills of sale, an invoice listing the serial number for such Engine from the manufacturer of such Engine to Evergreen Equity; 

(d) On or before August 1, 2013 (or such later date as agreed to by Agent in writing in its sole discretion), Agent shall have
received, opinions of the Loan Parties’ counsel in New York, Oregon, and Nevada regarding matters as to agreements described in clause (c) hereof as Agent or its counsel may reasonably request, and which are in form and substance
reasonably satisfactory to Agent; 
 (e) On or before July 1, 2013 (or such later date as agreed to by Agent in writing in
its sole discretion), Agent shall have received duly executed and delivered Control Agreements or Controlled Account Agreements with respect to each Deposit Account and Securities Account of the Loan Parties (other than to the extent excused by the
Guaranty and Security Agreement), in each case, in form and substance reasonably satisfactory to Agent; 

 (f) The Loan Parties shall use commercially reasonable efforts to deliver to Agent, within
180 days after the Closing Date (or such later date as agreed to by Agent in writing in its sole discretion), Collateral Access Agreements with respect to the following locations: 

(iii) 5550 SW Macadam Ave., Suite 200, Portland, OR 97239-3769; 

(iv) 6909 6th Street, White City, OR, 97503; 
 (v) 611 Nebula Way, Rogue Valley International-Medford Airport, Medford, OR, 97504; 
 (vi) State Airport, 570 Airport Rd., Warwick, RI 02886; 
 (vii) 3800 Three Mile
Lane, McMinnville, OR 97128; 
 (viii) Lot 1, Block 3, Nome Airport, Nome, AK 99762; 

(ix) 1936 Merrill Field Dr., Anchorage, AK 99501. 
 (g) Within 90 days after the Closing Date (or such later date as agreed to by Agent in writing in its sole discretion), Agent shall have received evidence that all of the Deposit Accounts and Securities
Accounts of the Loan Parties are maintained at Wells Fargo Bank, N.A.; 
 (h) On or before July 1, 2013 (or such later
date as agreed to by Agent in writing in its sole discretion), Agent shall have received, evidence that a FAA release and an International Registry release have been duly executed and recorded and/or filed with the FAA and the International
Registry, releasing the registrations made by D.B. Zwirn Special Opportunities Funds, L.P. with respect to that certain Sikorsky S-64 with manufacturer’s serial number 64093; 

(i) Within 120 days after the Closing Date (or such later date as may be agreed to by Agent in writing in its sole discretion), Agent
shall have received, evidence, in form and substance reasonably satisfactory to Agent, of termination of any assignment by a Loan Party to any Person other than Agent of any account or other receivable or chattel paper with respect to each of the
following contracts: 
 (i) Contract No. N00033-09-C-1000 between Evergreen and US Navy MSC (East/Atlantic); 

(ii) Contract No. N00033-08-C-1002 between Evergreen and US Navy MSC (West/Guam); 

(iii) Contract No. HTC711-10-D-R028 between Evergreen and US Transcom; 

(iv) Contract No. HTC11-09-D-0023 between Evergreen and US Transcom; 

(v) Contract No. ATX-11-DIO-EVG between Evergreen and United States Postal Service; 

(vi) Contract No. W912DO-11-D-0002 between Evergreen and US Army Alaska; 

 (vii) Contract No. HTC711-10-D-R017 between Evergreen Alaska and US Transcom; 

(viii) Contract No. W912CN-12-D-0002 between Evergreen and US Army; 

(ix) Contract No. W912CN-08-D-0013 between Evergreen and US Army (Hawaii); 

(x) Contract No. W52P1J-12-C-0089 between Evergreen Alaska and US Army, Rock Island; 

(xi) Contract No. W5J9LE-11-C-0061 between Evergreen Alaska and U.S. Army Corp of Engineers; 

(xii) Contract No. 2012-9-25 between Evergreen, US DOT, and Diomede; 

(xiii) Contract No. W52P1J-12-C-0074 between Evergreen and US Army, Rock Island; and 

(xiv) US Department of Agriculture (Forest Service) Contract No. AG-024B-C-12-9003 between USDA, Forest Service and EAC. 

(j) Within 120 days after the Closing Date (or such later date as may be agreed to by Agent in writing in its sole discretion), the Loan
Parties shall have used commercially reasonable efforts to deliver to Agent, a notice of assignment, an instrument of assignment, evidence of authority to execute such instrument of assignment, and any other instruments or documents reasonably
required by Agent and duly executed by the parties thereto, in order that all moneys due or to become due under each of the following contracts be assigned to Agent, for the benefit of the Lender Group and the Bank Product Providers, in each case,
which comply, to the reasonable satisfaction of the Agent, with the Assignment of Claims Act 31 U.S.C. § 3727 (or the equivalent for the City and County of Los Angeles and NATO): 

(i) Contract No. N00033-09-C-1000 between Evergreen and US Navy MSC (East/Atlantic); 

(ii) Contract No. N00033-08-C-1002 between Evergreen and US Navy MSC (West/Guam); 

(iii) Contract No. HTC711-10-D-R028 between Evergreen and US Transcom; 

(iv) Contract No. ATX-11-DIO-EVG between Evergreen and United States Postal Service; 

(v) Contract No. W912DO-11-D-0002 between Evergreen and US Army Alaska; 

(vi) Contract No. HTC711-10-D-R017 between Evergreen Alaska and US Transcom; 

(vii) Contract No. W912CN-12-D-0002 between Evergreen and US Army; 

 (viii) Contract No. W52P1J-12-C-0089 between Evergreen Alaska and US Army, Rock Island;

 (ix) Contract No. 2012-9-25 between Evergreen, US DOT, and Diomede; 

(x) Contract No. W52P1J-12-C-0074 between Evergreen and US Army, Rock Island; 

(xi) US Department of Agriculture (Forest Service) Contract No. AG-024B-C-12-9003 between USDA, Forest Service and EAC; 

(xii) County of Los Angeles (Fire Department) Lease Contract No. 76557 between Consolidated Fire Protection District of Los Angeles
County and EAC; 
 (xiii) City of Los Angeles (Fire Department) Agreement No. C-113693 between the City of Los Angeles and EAC;
and 
 (xiv) Contract No. LC-CH/4600002272 between the NATO Support Agency (fka NATO Maintenance Supply Agency) and EAC.

 Schedule 5.2 

Provide Agent (and if so requested by Agent, with copies for each Lender) with each of the documents set forth below at the following
times in form satisfactory to Agent: 
  

			
	Monthly (not later than the 25th day of each month); provided that if, as of any date of determination, Availability is less than $15,000,000, the reports specified in
clauses (b) – (o) shall be delivered on a weekly basis (no later than Wednesday of each week) until such time as Availability shall have been $15,000,000 at all times during each of the preceding 30 days; provided further that, the reports
specified in clauses (b) and (d) – (o) shall not be required to be delivered with respect to any Loan Party whose assets are not included in the Borrowing Base for any period prior to the month commencing July 1, 2013	  	 (a) a detailed report regarding Borrowers’ and their Subsidiaries’ cash and Cash Equivalents, including (i) daily cash
collections, (ii) an indication of which amounts constitute Qualified Cash, (iii) account numbers, and (iv) balances for such account numbers,
  

(b) notice of all claims, offsets, or disputes asserted by Account Debtors with respect to Borrowers’ Accounts,

 
 (c) a Borrowing Base Certificate,

 
 (d) a detailed aging and roll-forward, by total, of Borrowers’ Accounts,
together with a reconciliation and supporting documentation for any reconciling items noted (delivered electronically in an acceptable format, if Borrowers have implemented electronic reporting),

 
 (e) a summary aging, by vendor, of the Loan Parties’ accounts payable and any
book overdraft (delivered electronically in an acceptable format, if Borrowers have implemented electronic reporting) and an aging, by vendor, of any held checks,
  

(f) a monthly Account roll-forward, in a format acceptable to Agent in its discretion, with supporting details supplied from sales journals, collection
journals, credit registers and any other records, tied to the beginning and ending account receivable balances of the Loan Parties’ general ledger,
  

(g) a reconciliation of Accounts, Inventory and trade accounts payable of the Loan Parties’ general ledger to its monthly financial statements
including any book reserves related to each category,
  
 (h) a detailed PPO
Inventory system/perpetual report (which shall include a list of all PPO Inventory of each Loan Party as of each such day and includes the owner, serial parts, item numbers, item names, location codes, warehouse codes, country code, amount, and any
other information reasonably requested by Agent) (delivered electronically in an acceptable format, if the Borrowers have implemented electronic reporting),
  

(i) a detailed Spare Parts Inventory system/perpetual report (which shall include a list of all Spare Parts by of each Loan Party as of each such day and
includes the owner, item numbers and names, country codes, item group codes, status codes, warehouse codes, on hand amount, inventory value, and any other information reasonably requested by Agent) (delivered electronically in an acceptable format,
if the Borrowers have implemented electronic reporting),
  
 (j) a detailed
work-in-process Inventory system/perpetual report (which shall include material and labor cost, and any other information reasonably requested by Agent (delivered electronically in an acceptable format, if the Borrowers have implemented electronic
reporting),

			
		  	 (k) a report showing (i) all deferred revenues as set forth in the Loan Parties’ balance sheet for the prior month, and (ii) the
portion of such deferred revenues that will be earned during the next four fiscal quarters,
  
 (l) a detailed description by type and current location of all of the Inventory, Aircrafts, and Engines, owned by any Loan Party located both in and outside the United States, and for each Aircraft and
each Engine that is located outside of the United States an indication of whether the country of its location is a signatory to either (i) the Geneva Convention, or (ii) the Cape Town Convention,

 
 (m) a detailed calculation of Inventory, Aircrafts, and Engines that are not eligible
for the Borrowing Base (delivered electronically in an acceptable format, if Borrowers have implemented electronic reporting),
  

(n) a detailed report regarding any Inventory (i) with no usage in the immediately preceding seven years, (ii) with more than ten years of usage in the
aggregate, or (iii) that has become obsolete due to engineering advances, and
  
 (o) a detailed report regarding any write down or obsolete adjustment of any Loan Party’s Inventory, Aircrafts, and Engines.

		
	Quarterly	  	 (p) a report regarding the Loan Parties’ accrued, but unpaid, ad valorem taxes, and

 
 (q) a Perfection Certificate or a supplement to the Perfection
Certificate.

		
	Semi-annually	  	(r) a schedule of the Maintenance Program for each Aircraft and Engine and a report detailing any scheduled long-term maintenance or overhaul for any Aircraft or
Engine.
		
	On each anniversary of the Closing Date if requested by Agent	  	(s) an opinion of FAA counsel, in form and substance reasonably satisfactory to Agent, dated as of a date not more than 30 days prior to such anniversary, that, with respect to
all Collateral consisting of Aircraft, Engines, and Spare Parts, based on FAA’s review of the Aviation Registry of the FAA and the International Registry, Agent has a perfected first priority security interest thereon and International Interest
therein, free and clear of all Liens (other than Permitted Liens), and attaching thereto the related “priority search certificates” from the Aviation Registry of the FAA, the International Registry, and the Spare Parts perfection
locations.
		
	Within 10 days after a request by Agent	  	(t) such other reports as to the Collateral or the financial condition of Borrowers and their Subsidiaries, as Agent may reasonably request.
		
	Promptly, but in any event within 10 days prior to any such action	  	 (u) written notice that any Aircraft or Engine will be deregistered with the FAA or any Aircraft or Engine will be taken to a country
that is not a signatory to the Geneva Convention or the Cape Town Convention, and
  
 (v) written notice of any Engine being removed from any Aircraft.

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