Document:

Exhibit 10.1

 

 

FIRST AMENDED AND RESTATED CREDIT AGREEMENT

 

dated as of

 

October 31, 2018,

 

among

 

COMTECH TELECOMMUNICATIONS CORP.,

 

as Borrower,

 

The Lenders Party Hereto,

 

and

 

CITIBANK, N.A.,

as Administrative Agent, Issuing Bank and Swingline Lender

  

 

 

CITIBANK, N.A.,

MANUFACTURERS AND TRADERS TRUST COMPANY,

BMO Harris Bank, N.A. and

Santander Bank, N.A.,

as Joint Lead Arrangers,

 

CITIBANK, N.A.

and

MANUFACTURERS AND TRADERS TRUST COMPANY,

as Joint Bookrunners,

and

 

MANUFACTURERS AND TRADERS TRUST COMPANY,

as Syndication Agent and Documentation Agent

 

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	ARTICLE I
	 
	Definitions
	 	 	 
	SECTION 1.01.	Defined Terms	2
	SECTION 1.02.	Classification of Loans and Borrowings	39
	SECTION 1.03.	Terms Generally	39
	SECTION 1.04.	Accounting Terms; GAAP	40
	SECTION 1.05.	Pro Forma and Other Calculations	40
	SECTION 1.06.	Times of Day	41
	SECTION 1.07.	Deliveries	41
	SECTION 1.08.	Schedules and Exhibits	41
	SECTION 1.09.	Currency Generally	41
	 	 	 
	ARTICLE II
	 
	The Credits
	 	 	 
	SECTION 2.01.	Commitments	41
	SECTION 2.02.	Loans and Borrowings	41
	SECTION 2.03.	Requests for Borrowings	42
	SECTION 2.04.	Letters of Credit	43
	SECTION 2.05.	Funding of Borrowings	50
	SECTION 2.06.	Interest Elections	50
	SECTION 2.07.	Termination and Reduction of Commitments	52
	SECTION 2.08.	Repayment of Loans; Evidence of Debt	52
	SECTION 2.09.	[reserved]	53
	SECTION 2.10.	Prepayment of Loans	53
	SECTION 2.11.	Fees	54
	SECTION 2.12.	Interest	55
	SECTION 2.13.	Alternate Rate of Interest	56
	SECTION 2.14.	Increased Costs	57
	SECTION 2.15.	Break Funding Payments	58
	SECTION 2.16.	Taxes	59
	SECTION 2.17.	Payments Generally; Pro Rata Treatment; Sharing of Setoffs	63
	SECTION 2.18.	Mitigation Obligations; Replacement of Lenders	65
	SECTION 2.19.	Defaulting Lenders	66
	SECTION 2.20.	[reserved]	68
	SECTION 2.21.	Swingline Loans	68
	SECTION 2.22.	Incremental Revolving Commitments	70

 

    i

     

    

 

	ARTICLE III
	 
	Representations and Warranties
	 	 	 
	SECTION 3.01.	Organization; Powers	73
	SECTION 3.02.	Authorization; Due Execution and Delivery; Enforceability	73
	SECTION 3.03.	Governmental Approvals; No Conflicts	73
	SECTION 3.04.	Financial Condition; No Material Adverse Change	74
	SECTION 3.05.	Properties	74
	SECTION 3.06.	Litigation and Environmental Matters	75
	SECTION 3.07.	Compliance with Laws and Agreements; No Default	75
	SECTION 3.08.	Anti-Terrorism Laws; Anti-Corruption Laws	75
	SECTION 3.09.	Investment Company Status; Other Regulations	76
	SECTION 3.10.	Federal Reserve Regulations	76
	SECTION 3.11.	Taxes	76
	SECTION 3.12.	ERISA	76
	SECTION 3.13.	Disclosure	77
	SECTION 3.14.	Subsidiaries	77
	SECTION 3.15.	Insurance	78
	SECTION 3.16.	Labor Matters	78
	SECTION 3.17.	Solvency	78
	SECTION 3.18.	Collateral Matters	79
	SECTION 3.19.	Permits and Licenses	80
	 	 	 
	ARTICLE IV
	 
	Conditions
	 	 	 
	SECTION 4.01.	[reserved]	80
	SECTION 4.02.	Each Credit Event	80
	 	 	 
	ARTICLE V
	 
	Affirmative Covenants
	 	 	 
	SECTION 5.01.	Financial Statements and Other Information	81
	SECTION 5.02.	Notices of Material Events	83
	SECTION 5.03.	Information Regarding Collateral	84
	SECTION 5.04.	Existence; Conduct of Business	85
	SECTION 5.05.	Payment of Obligations and Taxes	85
	SECTION 5.06.	Maintenance of Properties	85
	SECTION 5.07.	Insurance	85
	SECTION 5.08.	Casualty and Condemnation	86
	SECTION 5.09.	Books and Records; Inspection and Audit Rights	86
	SECTION 5.10.	Compliance with Laws	86
	SECTION 5.11.	Use of Proceeds and Letters of Credit	87
	SECTION 5.12.	Additional Subsidiaries	87

 

    ii

     

    

 

	SECTION 5.13.	Further Assurances	87
	 	 	 
	ARTICLE VI
	 
	Negative Covenants
	 	 	 
	SECTION 6.01.	Indebtedness; Certain Equity Securities	88
	SECTION 6.02.	Liens	91
	SECTION 6.03.	Fundamental Changes	93
	SECTION 6.04.	Investments, Loans, Advances, Guarantees and Acquisitions	93
	SECTION 6.05.	Asset Sales	96
	SECTION 6.06.	Sale and Leaseback Transactions	97
	SECTION 6.07.	Hedging Agreements	98
	SECTION 6.08.	Restricted Payments; Certain Payments of Indebtedness	98
	SECTION 6.09.	Transactions with Affiliates	100
	SECTION 6.10.	Restrictive Agreements	100
	SECTION 6.11.	Amendment of Material Documents	101
	SECTION 6.12.	Interest Expense Coverage Ratio	101
	SECTION 6.13.	Leverage Ratio; Secured Leverage Ratio	101
	SECTION 6.14.	Changes in Fiscal Periods	101
	 	 	 
	ARTICLE VII
	 
	Events of Default
	 
	ARTICLE VIII
	 
	The Administrative Agent
	 
	ARTICLE IX
	 
	Miscellaneous
	 	 	 
	SECTION 9.01.	Notices	110
	SECTION 9.02.	Waivers; Amendments	113
	SECTION 9.03.	Expenses; Indemnity; Damage Waiver	116
	SECTION 9.04.	Successors and Assigns	118
	SECTION 9.05.	Survival	123
	SECTION 9.06.	Counterparts; Integration; Effectiveness	123
	SECTION 9.07.	Severability	124
	SECTION 9.08.	Right of Setoff	124
	SECTION 9.09.	Governing Law; Jurisdiction; Consent to Service of Process	124
	SECTION 9.10.	WAIVER OF JURY TRIAL	125
	SECTION 9.11.	Headings	125
	SECTION 9.12.	Confidentiality	126
	SECTION 9.13.	Interest Rate Limitation	126
	SECTION 9.14.	Release of Liens and Guarantees	127

 

    iii

     

    

 

	SECTION 9.15.	USA PATRIOT Act Notice	127
	SECTION 9.16.	No Fiduciary Relationship	128
	SECTION 9.17.	Non-Public Information	128
	SECTION 9.18.	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	129
	SECTION 9.19.	Certain ERISA Matters	130

 

SCHEDULES:

 

Schedule 1.01 — Existing Letters of Credit

Schedule 1.02 — Mortgaged Property

Schedule 2.01 — Revolving Commitments

Schedule 2.21 — Swingline Commitments

Schedule 3.05 — Real Property

Schedule 3.14 — Subsidiaries

Schedule 3.15 — Insurance

Schedule 6.01 — Existing Indebtedness

Schedule 6.02 — Existing Liens

Schedule 6.04 — Existing Investments

Schedule 6.10 — Existing Restrictions

 

EXHIBITS:

 

	Exhibit A	— 	Form of Assignment and Assumption
	Exhibit B-1	— 	[reserved]
	Exhibit B-2	— 	[reserved]
	Exhibit C	— 	Collateral Agreement
	Exhibit D	— 	Perfection Certificate
	Exhibit E	— 	Form of Supplemental Perfection Certificate
	Exhibit F	— 	Intercompany Indebtedness Subordination Agreement
	Exhibit G-1	— 	Form of U.S. Tax Compliance Certificate for Foreign Lenders that are not Partnerships for U.S. Federal Income Tax Purposes
	Exhibit G-2	— 	Form of U.S. Tax Compliance Certificate for Non-U.S. Participants that are Partnerships for U.S. Federal Income Tax Purposes
	Exhibit G-3	— 	Form of U.S. Tax Compliance Certificate for Non-U.S. Participants that are not Partnerships for U.S. Federal Income Tax Purposes
	Exhibit G-4	— 	Form of U.S. Tax Compliance Certificate for Foreign Lenders that are Partnerships for U.S. Federal Income Tax Purposes

 

    iv

     

    

 

FIRST AMENDED AND RESTATED CREDIT
AGREEMENT dated as of October 31, 2018 (this “Agreement”), among Comtech
Telecommunications Corp., a Delaware corporation (the “Borrower”), the LENDERS party hereto and CITIBANK,
N.A., as Administrative Agent, Issuing Bank and Swingline Lender.

 

The Borrower, Citibank, N.A., as administrative
agent and issuing bank, and certain other parties thereto entered in a Credit Agreement dated as of February 23, 2016 (as amended
by that certain First Amendment dated as of June 6, 2017 and that certain Consent and Waiver to Credit Agreement dated as of September
5, 2017, the “Original Credit Agreement”), pursuant to which the lenders thereunder extended credit in the form
of term loans in an aggregate principal amount of $250,000,000 and revolving commitments in an aggregate principal amount of $150,000,000.

 

The Borrower has requested that the Lenders
party hereto agree to amend and restate the Original Credit Agreement in its entirety in the form hereof, inter alia, to
(i) evidence the increase in Revolving Commitments available to the Borrower on the First A&R Effective Date, (ii) evidence
the repayment in full of all outstanding term loans under the Original Credit Agreement and (iii) make certain other changes as
more fully set forth herein.

 

The proceeds of the Revolving Loans (including
any Swingline Loans) (i) on the First A&R Effective Date, will be used by the Borrower to finance the Transactions and (ii)
on or after the First A&R Effective Date, will be used by the Borrower from time to time for working capital and other general
corporate purposes. Letters of Credit will be used solely to support payment, performance and warranty obligations incurred in
the ordinary course of business by the Borrower and its Subsidiaries.

 

It is the intent of the parties hereto that
the terms of this Agreement and the First Amendment and Restatement Agreement shall not constitute a novation of the obligations
and liabilities of the parties under the Original Credit Agreement. It is further the intent of the Loan Parties to confirm that
all Obligations of the Loan Parties under the Loan Documents, as amended hereby and by the First Amendment and Restatement Agreement,
shall continue in full force and effect. Each of the Lenders party hereto has consented to and approved this Agreement by executing
the First Amendment and Restatement Agreement and is willing to extend credit to the Borrower, and the Issuing Bank is willing
to issue Letters of Credit for the account of the Borrower and each Subsidiary Loan Party, on the terms and subject to the conditions
set forth herein.

 

Accordingly, the parties hereto agree as follows:

 

     

     

    

 

ARTICLE I

Definitions

 

SECTION 1.01.  Defined Terms.
As used in this Agreement (including in the introductory paragraphs hereto), the following terms have the meanings specified below:

 

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

 

“Additional Lender” has
the meaning assigned to such term in Section 2.22(b).

 

“Adjusted LIBO Rate” means,
with respect to any Eurodollar Borrowing for any Interest Period (or, solely for purposes of clause (c) of the defined term “Alternate
Base Rate”, for purposes of determining the Alternate Base Rate as of any date), an interest rate per annum (rounded upwards,
if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period (or such date, as applicable) multiplied
by (b) the Statutory Reserve Rate.

 

“Administrative Agent”
means Citibank, N.A., in its capacity as administrative agent hereunder and under the other Loan Documents, and its successors
in such capacity as provided in Article VIII.

 

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

 

“Affiliate” means, with
respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled
by or is under common Control with the Person specified; provided, however, that for purposes of Section 6.09,
the term “Affiliate” shall also include any person that directly, or indirectly through one or more intermediaries,
owns 10% or more of any class of Equity Interests of the Person specified or that is an officer or director of the Person specified.

 

“Affiliate Transaction”
has the meaning assigned to such term in Section 6.09.

 

“Aggregate Revolving Commitment”
means, at any time, the sum of the Revolving Commitments of all the Revolving Lenders at such time.

 

“Aggregate Revolving Exposure”
means, at any time, the sum of the Revolving Exposures of all the Revolving Lenders at such time.

 

“Agreement” has the meaning
assigned to such term in the introductory statement to this First Amended and Restated Credit Agreement.

   

    2

     

    

 

“Alternate Base Rate” means,
for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds
Effective Rate in effect on such day plus 1/2 of 1.00% per annum and (c) the Adjusted LIBO Rate on such day (or, if
such day is not a Business Day, the immediately preceding Business Day) plus 1.00% per annum. If the Administrative Agent
shall have determined (which determination shall be conclusive absent manifest error) that it is unable to ascertain the Federal
Funds Effective Rate for any reason, including the inability or failure of the Administrative Agent to obtain sufficient quotations
in accordance with the terms of the definition thereof, then the Alternate Base Rate shall be determined without regard to clause (b)
of the preceding sentence until the circumstances giving rise to such inability no longer exist. For purposes of clause (c) above,
the Adjusted LIBO Rate on any day shall be based on the rate per annum appearing on the applicable Reuters screen page (currently
page LIBOR01) displaying interest rates for dollar deposits in the London interbank market (or, in the event such rate does not
appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall
be selected by the Administrative Agent from time to time in its reasonable discretion) at approximately 11:00 a.m., London time,
on such day for deposits in dollars with a maturity of one month. Any change in the Alternate Base Rate due to a change in the
Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective from and including the effective date
of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. Notwithstanding the
foregoing, in no event shall the Alternate Base Rate at any time be less than 0.00% per annum.

 

“Anti-Corruption Laws”
means the FCPA and all other laws, rules, and regulations of any jurisdiction applicable to the Borrower or its Subsidiaries from
time to time concerning or relating to bribery, corruption or money laundering.

 

“Applicable Net Proceeds”
has the meaning assigned to such term in Section 2.10(c).

 

“Applicable Percentage”
means, at any time with respect to any Revolving Lender, the percentage of the Aggregate Revolving Commitment represented by such
Lender’s Revolving Commitment at such time. If the Revolving Commitments have terminated or expired, the Applicable Percentages
shall be determined based upon the Revolving Commitments most recently in effect, giving effect to any assignments of Revolving
Loans, LC Exposures and Swingline Exposures that occur after such termination or expiration.

 

“Applicable Rate” means,
for any day, with respect to any Revolving Loan or Swingline Loan, or with respect to the commitment fees payable hereunder, the
applicable rate per annum set forth below under the caption “ABR Spread”, “Eurodollar Spread” or “Commitment
Fee Rate”, as applicable, based upon the Secured Leverage Ratio as of the end of the fiscal quarter of the Borrower for which
consolidated financial statements have heretofore been most recently delivered pursuant to Section 5.01(a) or 5.01(b); provided
that until the delivery to the Administrative Agent pursuant to Section 5.01(a) or 5.01(b) as of and for the first fiscal quarter
of the Borrower ending after the

 

    3

     

    

 

First A&R Effective Date, the Applicable Rate shall be the applicable rate per annum set forth
below in Category 2:

  

	Secured Leverage Ratio:	 	ABR

Spread	 	Eurodollar

Spread	 	Commitment

Fee

Rate
	
        Category 1

        ≥ 2.75 to 1.00
	 	
         

        1.250%
	 	
         

        2.250%
	 	
         

        0.350%

	
        Category 2

        < 2.75 to 1.00

        but ≥ 2.00 to 1.00
	 	
         

        1.000%
	 	
         

        2.000%
	 	
         

        0.300%

	
        Category 3

        < 2.00 to 1.00

        but ≥ 1.25 to 1.00
	 	
         

        0.750%
	 	
         

        1.750%
	 	
         

        0.250%

	
        Category 4

        < 1.25 to 1.00
	 	
         

        0.500%
	 	
         

        1.500%
	 	
         

        0.175%

 

For purposes of the foregoing, each change
in the Applicable Rate resulting from a change in the Secured Leverage Ratio shall be effective during the period commencing on
and including the date of delivery to the Administrative Agent of the consolidated financial statements pursuant to Section 5.01(a)
or 5.01(b) and the accompanying certificate of a Financial Officer pursuant to Section 5.01(c) indicating such change and ending
on the date immediately preceding the effective date of the next such change; provided that the Secured Leverage Ratio shall
be deemed to be in Category 1 (i) at any time that an Event of Default has occurred and is continuing or (ii) at
the option of the Administrative Agent or at the request of the Required Lenders if the Borrower fails to deliver the consolidated
financial statements required to be delivered by it pursuant to Section 5.01(a) or 5.01(b) or the certificate of a Financial
Officer required to be delivered by it pursuant to Section 5.01(c) during the period from the expiration of the time for delivery
thereof until such consolidated financial statements and such certificate are delivered.

 

“Approved Fund” means any
Person (other than a natural person and any holding company, investment vehicle or trust for, or owned and operated for the primary
benefit of, a natural person) that is engaged in making, purchasing, holding or investing in commercial loans and similar extensions
of credit in the ordinary course of its activities and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender
or (c) an entity or an Affiliate of an entity that administers or manages a Lender.

 

“Arrangers” means, collectively,
(i) Citibank, N.A., Manufacturers and Traders Trust Company, BMO Harris Bank, N.A. and Santander Bank, N.A., each in its capacity
as a joint lead arranger for the credit facilities provided for herein, and (ii) Citibank, N.A. and Manufacturers and Traders Trust
Company, each in its capacity as a joint bookrunner for the credit facilities provided for herein.

 

    4

     

    

 

“Assignment and Assumption”
means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any Person whose consent
is required by Section 9.04) and accepted by the Administrative Agent, in the form of Exhibit A or any other form
approved by the Administrative Agent.

 

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

 

“Beneficial Ownership Regulation”
means 31 C.F.R. §  1010.230.

 

“Benefit Plan” means any
of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan”
as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42)
or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan”
or “plan”.

 

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

 

“Borrower” has the meaning
assigned to such term in the preamble hereto.

 

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

 

“Borrowing Request” means
a request by the Borrower for a Borrowing in accordance with Section 2.03 which shall be, in the case of a written Borrowing
Request, in a form reasonably acceptable to the Administrative Agent and otherwise consistent with the requirements of Section
2.03.

 

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

 

    5

     

    

 

“Capital Lease Obligations”
of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying
the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted
for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized
amount thereof determined in accordance with GAAP. For purposes of Section 6.02, a Capital Lease Obligation shall be deemed to
be secured by a Lien on the property being leased and such property shall be deemed to be owned by the lessee.

 

“Cash Management Services”
means any one or more of the following types of services or facilities provided to the Borrower or any Subsidiary: (i) commercial
credit cards, merchant card services, purchase or debit cards, including non-card e-payables services, or electronic funds transfer
services, (ii) treasury management services (including controlled disbursements, zero balance arrangements, cash sweeps, automated
clearinghouse transactions, return items, overdrafts, temporary advances, interest and fees and interstate depository network services)
and (iii) any other demand deposit or operating account relationships or other cash management services.

 

“CFC” means a Person that
is a “controlled foreign corporation” as defined in Section 957 of the Code.

 

“Change in Control” means:

 

(a) the acquisition of ownership, directly
or indirectly, beneficially or of record, by any Person or group (within the meaning of the Exchange Act and the rules of the SEC
thereunder) of Equity Interests representing more than 35% of the aggregate ordinary voting power represented by the issued and
outstanding Equity Interests in the Borrower;

 

(b) the occupation of a majority of the
seats (other than vacant seats) on the board of directors of the Borrower by Persons who were not (i) directors of the Borrower
on the Effective Date, (ii) nominated (or approved for purposes of the Agreement) by the board of directors of the Borrower or
(iii) appointed by directors who were directors of the Borrower on the Effective Date or were so nominated or approved as provided
in subclause (ii) of this clause (b); or

 

(c) the occurrence of any “change
in control” (or similar event, however denominated) with respect to the Borrower under and as defined in any indenture or
other agreement or instrument evidencing, governing the rights of the holders of or otherwise relating to any Material Indebtedness
of the Borrower or any Subsidiary or any certificate of designations (or other provision of the organizational documents of the
Borrower) relating to, or any other agreement governing the rights of the holders of, any Disqualified Equity Interests. 

 

“Change in Law” means the
occurrence, after the First A&R Effective Date (or with respect to any Lender, if later, the date on which such Lender becomes
a Lender), of any of the following: (a) the adoption of or taking effect of any law, rule,

 

    6

     

    

 

regulation or treaty, (b) any
change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by
any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having
the force of law) by any Governmental Authority; provided that, notwithstanding anything herein to the contrary, (i) the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives promulgated thereunder
or issued in connection therewith and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International
Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States of America
or foreign regulatory authorities, in each case pursuant to Basel III, in each case shall be deemed to be a “Change in Law”,
regardless of the date enacted, adopted, promulgated or issued.

 

“Charges” has the meaning
assigned to such term in Section 9.13.

 

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

 

“Collateral” means any
and all assets, whether real or personal, tangible or intangible, on which Liens are purported to be granted pursuant to the Security
Documents as security for the Obligations.

 

“Collateral Agreement”
means the Guarantee and Collateral Agreement, dated as of the Effective Date, among the Borrower, the Subsidiary Loan Parties and
the Administrative Agent, substantially in the form of Exhibit C.

 

“Collateral and Guarantee Requirement”
means, at any time, the requirement that:

 

(a)  the
Administrative Agent shall have received from the Borrower and each Designated Subsidiary (i) either (A) a counterpart of
the Collateral Agreement duly executed and delivered on behalf of such Person or (B) in the case of any Person that becomes
a Designated Subsidiary after the Effective Date, a supplement to the Collateral Agreement, in the form specified therein, duly
executed and delivered on behalf of such Person, together, to the extent reasonably requested by the Administrative Agent, with
customary opinions and documents with respect to such Person, and (ii) with respect to any such Person that directly owns
Equity Interests of a Foreign Subsidiary (other than Excluded Equity Interests), a counterpart of each Foreign Pledge Agreement
that the Administrative Agent reasonably determines, based on the advice of counsel, to be necessary or advisable in connection
with the pledge of, or the granting of security interests in, such Equity Interests of such Foreign Subsidiary, in each case duly
executed and delivered on behalf of such Person and, to the extent required by applicable law or otherwise reasonably requested
by the Administrative Agent, such Foreign Subsidiary; 

 

(b)  (i)
all outstanding Equity Interests of each Subsidiary (other than Excluded Equity Interests) and all other Equity Interests (other
than Excluded

 

    7

     

    

 

Equity Interests), in each case owned by or on behalf of any Loan Party, shall have been pledged pursuant to the
Collateral Agreement or a Foreign Pledge Agreement and (ii) the Administrative Agent shall, to the extent required by the Collateral
Agreement, have received certificates or other instruments representing all such Equity Interests, together with undated stock
powers or other instruments of transfer with respect thereto endorsed in blank;

 

(c)  all
Indebtedness of the Borrower and each Subsidiary, and all other Indebtedness for borrowed money of any Person, in a principal amount
of $3,000,000 or more, in each case that is owing to any Loan Party shall be evidenced by a promissory note and shall have been
pledged pursuant to the Collateral Agreement, and the Administrative Agent shall have received all such promissory notes, together
with undated instruments of transfer with respect thereto endorsed in blank; provided, however, that the foregoing
delivery requirement with respect to any intercompany indebtedness may be satisfied by delivery of an omnibus or global intercompany
note executed by all Loan Parties as payees and all such obligors as payors;

 

(d)  all
documents and instruments, including Uniform Commercial Code financing statements, required by law or reasonably requested by the
Administrative Agent to be filed, registered or recorded to create the Liens intended to be created by the Security Documents and
perfect such Liens to the extent required by, and with the priority required by, the Security Documents shall have been filed,
registered or recorded or delivered to the Administrative Agent for filing, registration or recording;

 

(e)  the
Administrative Agent shall have received (i) counterparts of a Mortgage with respect to each Mortgaged Property duly executed
and delivered by the record owner of such Mortgaged Property, (ii) a policy or policies of title insurance issued by a nationally
recognized title insurance company insuring the Lien of each such Mortgage as a valid and enforceable first Lien on the Mortgaged
Property described therein, free of any other Liens except as expressly permitted by Section 6.02, together with such endorsements,
coinsurance and reinsurance as the Administrative Agent may reasonably request, (iii) if any Mortgaged Property is located in
an area determined by the Federal Emergency Management Agency to have special flood hazards, evidence of such flood insurance
as may be required under applicable law, including Regulation H of the Board of Governors, and (iv) such surveys, legal opinions
and other documents as the Administrative Agent may reasonably request with respect to any such Mortgage or Mortgaged Property; 

 

(f)  the
Administrative Agent shall have received a counterpart, duly executed and delivered by the applicable Loan Party and the applicable
depositary bank or securities intermediary, as applicable, of a Control Agreement with respect to each deposit account maintained
by any Loan Party with any depositary bank and each securities account maintained by any Loan Party with any securities intermediary
(other than (A) any deposit account the funds in which are

 

    8

     

    

 

used solely for the payment of salaries and wages, workers’ compensation
and similar expenses, (B) any fiduciary or trust account, together with the funds or other property held in or maintained in any
such account, (C) deposit accounts the daily balance in which does not at any time exceed $1,000,000 for any such account or $2,000,000
for all such accounts, (D) any deposit account that is a zero balance disbursement account, (E) any deposit or securities account
the funds in which consist solely of (1) funds held by any Loan Party in trust for any director, officer or employee of any Loan
Party or (2) funds or securities entitlements representing deferred compensation for the directors and employees of any Loan Party,
(F) any deposit account or securities account that is located outside the United States (excluding any territory thereof) and (G)
any deposit account or securities account established for the sole purpose of holding cash that serves solely as collateral or
security under any letter of credit or other obligation, in each case only so long as the Lien created thereby and such letter
of credit or other obligation is permitted under this Agreement); and

 

(g)  each
Loan Party shall use its commercially reasonable efforts to obtain (i) all landlord, warehouseman, bailee and processor acknowledgments
required to be obtained by it pursuant to the Collateral Agreement and (ii) all consents and approvals required to be obtained
by it in connection with the execution and delivery of all Security Documents to which it is a party, the performance of its obligations
thereunder and the granting by it of the Liens thereunder.

 

Notwithstanding the provisions or anything
in this Agreement or any other Loan Document to the contrary, the foregoing provisions of this definition shall not require the
creation or perfection of pledges of or security interests in, or the obtaining of title insurance, legal opinions or other deliverables
with respect to, particular assets of the Loan Parties, or the provision of Guarantees by any Designated Subsidiary, if and for
so long as the Administrative Agent, in consultation with the Borrower, reasonably determines that the cost of creating or perfecting
such pledges or security interests in such assets, or obtaining such title insurance, legal opinions or other deliverables in respect
of such assets, or providing such Guarantees, shall be excessive in view of the benefits to be obtained by the Lenders therefrom.
The Administrative Agent may grant extensions of time for the creation and perfection of security interests in or the obtaining
of title insurance, legal opinions or other deliverables with respect to particular assets or the provision of Guarantees by any
Subsidiary (including extensions in connection with assets acquired, or Subsidiaries formed or acquired, after the First A&R
Effective Date) where it determines that such perfection or obtaining of title insurance or legal opinions cannot be accomplished
without undue effort or expense by the time or times at which it would otherwise be required by this Agreement or the Security
Documents.

 

“Commitment” means (a)
with respect to any Revolving Lender, such Revolving Lender’s Revolving Commitment and (b) with respect to any Swingline
Lender, such Swingline Lender’s Swingline Commitment.

 

“Commodity Exchange Act”
means the Commodity Exchange Act (7 U.S.C. § 1 et seq.).

 

    9

     

    

 

“Communications” means,
collectively, any notice, demand, communication, information, document or other material provided by or on behalf of any Loan Party
pursuant to this Agreement or any other Loan Document or the transactions contemplated herein or therein that is distributed to
the Administrative Agent, any Lender or any Issuing Bank by means of electronic communications pursuant to Section 9.01, including
through the Platform.

 

“Consolidated EBITDA” means
for any period, Consolidated Net Income for such period plus (a) without duplication and to the extent deducted in
determining such Consolidated Net Income, the sum of (i) consolidated interest expense for such period, (ii) consolidated
income tax expense for such period, (iii) all amounts attributable to depreciation and amortization for such period (excluding
amortization expense attributable to a prepaid cash item that was paid in a prior period), (iv) non-recurring losses, costs,
fees and expenses incurred during such period in connection with the Transactions in an aggregate amount not to exceed $3,000,000,
(v) non-recurring fees and expenses incurred during such period in connection with any proposed or actual issuance of any
Indebtedness (or any amendment thereto) or Equity Interests, or any proposed or actual acquisitions, investments, asset sales or
divestitures permitted hereunder, whether or not consummated (in each case other than in connection with the Transactions), in
an aggregate amount not to exceed 20% of Consolidated EBITDA for such period (determined prior to giving effect to this subclause
(v)), (vi) non-cash expenses during such period resulting from the grant of stock options or other equity-related incentives
to any director, officer or employee of the Borrower or any Subsidiary pursuant to a written plan or agreement approved by the
board of directors of the Borrower, (vii) non-cash exchange, translation or performance losses during such period relating to any
foreign currency hedging transactions or currency fluctuations, (viii) any losses during such period attributable to early extinguishment
of Indebtedness or obligations under any Hedging Agreement, (ix) any expense during such period relating to defined benefits pension
or post-retirement benefit plans, (x) any losses during such period resulting from the sale or disposition of any asset of the
Borrower or any Subsidiary outside the ordinary course of business, (xi) any extraordinary losses during such period, (xii) non-recurring
restructuring related costs, charges, fees and expenses and any litigation settlements or losses outside the ordinary course of
business in an aggregate amount not to exceed 20% of Consolidated EBITDA for such period (determined prior to giving effect to
this subclause (xii)) and (xiii) the cumulative effect of a change in accounting principles; provided that (1) any cash
payment made with respect to any noncash items added back in computing Consolidated EBITDA for any prior period pursuant to this
clause (a) (or that would have been added back had this Agreement been in effect during such period) shall be subtracted in computing
Consolidated EBITDA for the period in which such cash payment is made and (2) any amounts added back pursuant to subclauses (v)
and (xii) of this clause (a) during any period shall not, in the aggregate, exceed 25% of Consolidated EBITDA for such period (determined
prior to giving effect to subclauses (v) and (xii) of this clause (a)), and minus (b) without duplication and (except
in the case of subclause (vii) of this clause (b)) to the extent included in determining such Consolidated Net Income, the sum
of (i) any extraordinary gains for such period, (ii) any non-cash gains for such period (other than any such non-cash
gains (A) in respect of which cash was received in a prior period or

 

    10

     

    

 

will be received in a future period and (B)
that represent the reversal of any accrual in a prior period for, or the reversal of any cash reserves established in a prior
period for, anticipated cash charges, in each case solely to the extent such accrual or cash reserves actually lowered Consolidated
EBITDA in the applicable prior period), (iii) non-cash exchange, translation or performance gains relating to any foreign
currency hedging transactions or currency fluctuations, (iv) any income relating to defined benefits pension or post-retirement
benefit plans, (v) all gains during such period resulting from the sale or disposition of any asset of the Borrower or any
Subsidiary outside the ordinary course of business, (vi) any gains attributable to early extinguishment of Indebtedness or obligations
under any Hedging Agreement, (vii) any amounts contributed by the Borrower or any Subsidiary in cash to any defined benefits
pension or post-retirement benefit plans during such period and (viii) the cumulative effect of a change in accounting principles,
all determined on a consolidated basis in accordance with GAAP. In the event any Subsidiary shall be a Subsidiary that is not
wholly owned by the Borrower, all amounts added back in computing Consolidated EBITDA for any period pursuant to clause (a) above,
and all amounts subtracted in computing Consolidated EBITDA pursuant to clause (b) above, to the extent such amounts are, in the
reasonable judgment of a Financial Officer, attributable to such Subsidiary, shall be reduced by the portion thereof that is attributable
to the non-controlling interest in such Subsidiary. 

 

“Consolidated Interest Expense”
means, for any period, the excess of (a) the sum of, without duplication, (i) the interest expense (including imputed
interest expense in respect of Capital Lease Obligations) of the Borrower and the Subsidiaries for such period, determined on a
consolidated basis in accordance with GAAP, (ii) any interest or other financing costs accrued during such period in respect
of Indebtedness of the Borrower or any Subsidiary that is required to be capitalized rather than included in consolidated interest
expense of the Borrower for such period in accordance with GAAP, (iii) any cash payments made during such period in respect
of obligations referred to in clause (b)(ii) below that were amortized or accrued in a previous period and (iv) all cash
dividends paid or payable during such period in respect of Disqualified Equity Interests of the Borrower; provided that
such dividends shall be multiplied by a fraction the numerator of which is one and the denominator of which is one minus the effective
combined tax rate of the Borrower (expressed as a decimal) for such period (as estimated by a Financial Officer in good faith)
minus (b) the sum of, without duplication, (i) to the extent included in such consolidated interest expense for such
period, non-cash amounts attributable to amortization or write-off of capitalized interest or other financing costs paid in a previous
period and (ii) to the extent included in such consolidated interest expense for such period, non-cash amounts attributable to
amortization of debt discounts or accrued interest payable in kind for such period.

 

“Consolidated Net Income”
means, for any period, the net income or loss of the Borrower and the Subsidiaries for such period determined on a consolidated
basis in accordance with GAAP; provided that there shall be excluded (a) the income of any Person (other than the Borrower)
that is not a consolidated Subsidiary, except to the extent of the amount of cash dividends or other cash distributions actually
paid by such Person to the Borrower or, subject to clauses (b) and (c) of this proviso, any consolidated Subsidiary during such
period, (b) the income of, and any amounts referred to in clause

 

    11

     

    

 

(a) of this proviso paid to, any Subsidiary
to the extent that, on the date of determination, the declaration or payment of cash dividends or other cash distributions by
such Subsidiary of that income is not at the time permitted by a Requirement of Law or any agreement or instrument applicable
to such Subsidiary, unless such restrictions with respect to the payment of cash dividends and other similar cash distributions
have been legally and effectively waived and (c) the income or loss of, and any amounts referred to in clause (a) of this proviso
paid to, any consolidated Subsidiary that is not wholly owned by the Borrower to the extent such income or loss or such amounts
are attributable to the non-controlling interest in such consolidated Subsidiary. 

 

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

 

“Control Agreement” means,
with respect to any deposit account or securities account maintained by any Loan Party, a control agreement in form and substance
reasonably satisfactory to the Administrative Agent, duly executed and delivered by such Loan Party and the depositary bank or
the securities intermediary, as applicable, with which such account is maintained.

 

“Credit Party” means the
Administrative Agent, each Issuing Bank, each Swingline Lender and each other Lender.

 

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

 

“Defaulting Lender” means
any Revolving Lender that (a) has failed, within two Business Days of the date required to be funded or paid, to (i) fund
any portion of its Loans, (ii) fund any portion of its participations in Letters of Credit or Swingline Loans or (iii) pay
over to any Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Revolving
Lender notifies the Administrative Agent in writing that such failure is the result of such Revolving Lender’s good faith
determination that a condition precedent to funding (specifically identified in such writing, including, if applicable, by reference
to a specific Default) has not been satisfied, (b) has notified the Borrower or any Credit Party in writing, or has made a
public statement to the effect, that it does not intend or expect to comply with any of its funding obligations under this Agreement
(unless such writing or public statement indicates that such position is based on such Revolving Lender’s good faith determination
that a condition precedent to funding (specifically identified in such writing, including, if applicable, by reference to a specific
Default) cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within
three Business Days after request by a Credit Party, made in good faith, to provide a certification in writing from an authorized
officer of such Revolving Lender that it will comply with its obligations (and is financially able to meet such obligations) to
fund

 

    12

     

    

 

prospective Loans and participations in then
outstanding Letters of Credit and Swingline Loans; provided that such Revolving Lender shall cease to be a Defaulting Lender
pursuant to this clause (c) upon such Credit Party’s receipt of such certification in form and substance satisfactory
to it and the Administrative Agent, (d) has, or has a direct or indirect parent company that has, become the subject of a Bankruptcy
Event or (e) has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action. Any determination
by the Administrative Agent that a Revolving Lender is a Defaulting Lender under any one or more of clauses (a) through (e) above
shall be conclusive and binding absent manifest error, and such Revolving Lender shall be deemed to be a Defaulting Lender (subject
to Section 2.19) upon delivery of written notice of such determination to the Borrower, each Issuing Bank, each Swingline Lender
and each other Lender. 

 

“Designated Subsidiary”
means each Subsidiary other than (a) any Subsidiary that (x) is a CFC or a direct or indirect subsidiary of a CFC or (y) has no
material assets other than Equity Interests in one or more Foreign Subsidiaries that are CFCs or direct or indirect subsidiaries
of such CFCs, (b) a Subsidiary that is not a Material Subsidiary; provided that the term “Designated Subsidiary”
shall include any Subsidiary described in clause (b) of this definition that is designated as a “Designated Subsidiary”
in accordance with Section 5.12(b), (c) any Subsidiary that is not wholly owned and is contractually prohibited by the applicable
shareholder documents or otherwise from providing a Guarantee of the Obligations, (d) any Subsidiary that is a non-profit Subsidiary
and (e) any Subsidiary to the extent the provision of a Guarantee of the Obligations (i) is prohibited by applicable law, regulation
or any contractual obligation existing on the Effective Date (or, if later, on the date such Subsidiary is acquired (and, in each
case, not established in anticipation thereof)) or (ii) would require governmental (including regulatory) consent, approval, license
or authorization (unless such consent, approval, license or authorization has been received).

 

“Disqualified Equity Interest”
means any Equity Interest that (a) requires the payment of any dividends (other than dividends payable solely in shares of
Qualified Equity Interests); (b) matures or is mandatorily redeemable or subject to mandatory repurchase or redemption or
repurchase at the option of the holders thereof, in each case in whole or in part and whether upon the occurrence of any event,
pursuant to a sinking fund obligation on a fixed date or otherwise, prior to the date that is 91 days after the Revolving
Maturity Date (determined as of the date of issuance thereof or, in the case of any such Equity Interests outstanding on the date
hereof, as of the date hereof), other than (i) upon payment in full of the Loan Document Obligations, reduction of the LC
Exposure to zero and termination of the Commitments or (ii) upon a “change in control”; provided that any
payment required pursuant to this clause (ii) is contractually subordinated in right of payment to the Loan Document Obligations
on terms reasonably satisfactory to the Administrative Agent and such requirement is applicable only in circumstances that are
market on the date of issuance of such Equity Interests; (c) requires the maintenance or achievement of any financial performance
standards other than as a condition to the taking of specific actions or provide remedies to holders thereof (other than voting
and management rights and increases in pay-in-kind dividends); or (d) is convertible or exchangeable, automatically or at
the option of any holder thereof,

 

    13

     

    

 

into (i) any Indebtedness (other than any Indebtedness
described in clause (k) of the definition thereof) or (ii) any Equity Interests or other assets other than Qualified Equity Interests,
in each case at any time prior to the date that is 91 days after the Revolving Maturity Date (determined as of the date of issuance
thereof or, in the case of any such Equity Interests outstanding on the date hereof, as of the date hereof); provided that
an Equity Interest in any Person that is issued to any employee or to any plan for the benefit of employees or by any such plan
to such employees shall not constitute a Disqualified Equity Interest solely because it may be required to be repurchased by such
Person or any of its subsidiaries in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s
termination, death or disability. 

 

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

 

“Dollar-Based Incremental Availability”
has the meaning assigned to such term in Section 2.22(a).

 

“Effective Date” means
February 23, 2016.

 

“Eligible Assignee” means
(a) a Lender, (b) an Affiliate of a Lender, (c) an Approved Fund and (d) subject to any consents required by Section 9.04(b),
any other Person, other than, in each case, a natural person (and any holding company, investment vehicle or trust for, or owned
and operated for the primary benefit of, a natural person), a Defaulting Lender, or the Borrower, any Subsidiary or any other Affiliate
of the Borrower.

 

“Eligible Successor
Agent” means a bank or financial institution that is organized under the laws of the United States or any State or district
thereof with an office in New York, New York which has a combined capital surplus of at least $200,000,000.

 

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

 

“Environmental Liability”
means any liability, obligation, loss, claim, action, order or cost, contingent or otherwise (including any liability for damages,
costs of medical monitoring, costs of environmental remediation or restoration, administrative oversight costs, consultants’
fees, fines, penalties and indemnities), directly or indirectly resulting from or based upon (a) any actual or alleged violation
of any Environmental Law or permit, license or approval issued thereunder, (b) the generation, use, handling, transportation,
storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release or
threatened Release of any Hazardous Materials or (e) any contract, agreement or other consensual arrangement pursuant to which
liability is assumed or imposed with respect to any of the foregoing.

 

    14

     

    

 

“Equity Interests” means
shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a
trust or other equity ownership interests (whether voting or non-voting) in, or interests in the income or profits of, a Person,
and any warrants, options or other rights entitling the holder thereof to purchase or acquire any of the foregoing (other than,
prior to the date of such conversion, Indebtedness that is convertible into Equity Interests).

 

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

 

“ERISA Affiliate” means
any trade or business (whether or not incorporated) that, together with the Borrower, is treated as a single employer under Section 414(b)
or 414(c) of the Code or, solely for purposes of Section 412 of the Code and Section 302 of ERISA, is treated as a single
employer under Section 414 of the Code.

 

“ERISA Event” means (a) any
“reportable event”, as defined in Section 4043(c) of ERISA or the regulations issued thereunder with respect to
a Plan (other than an event for which the 30-day notice period is waived), (b) any failure by any Plan to satisfy the minimum
funding standard (within the meaning of Section 412 of the Code or Section 302 of ERISA) applicable to such Plan, whether
or not waived, (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan, (d) a determination that any Plan is, or is expected
to be, in “at-risk” status (as defined in Section 430(i)(4) of the Code or Section 303(i)(4) of ERISA), (e) the incurrence
by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of
any Plan, (f) the receipt by the Borrower or any of its ERISA Affiliates from the PBGC or a plan administrator of any notice
relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan, (g) the incurrence by the
Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or
Multiemployer Plan, (h) the receipt by the Borrower or any ERISA Affiliate of any notice, or the receipt from any Multiemployer
Plan by the Borrower or any of its ERISA Affiliates of any notice, concerning the imposition of Withdrawal Liability or a determination
that a Multiemployer Plan is, or is expected to be, insolvent within the meaning of Title IV of ERISA, or in endangered or
critical status, within the meaning of Section 305 of ERISA or (i) any Foreign Benefit Event.

 

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

 

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

 

“Exchange Act” means the
United States Securities Exchange Act of 1934, as amended.

 

“Excluded Equity Interests”
has the meaning assigned to such term in the Collateral Agreement.

 

    15

     

    

 

“Excluded Swap Guarantor”
means any Subsidiary Loan Party all or a portion of whose Guarantee of, or grant of a security interest to secure, any Specified
Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order
of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof).

 

“Excluded Swap Obligations”
means, with respect to any Subsidiary Loan Party, any Specified Swap Obligation if, and to the extent that, all or a portion of
the Guarantee of such Subsidiary Loan Party of, or the grant by such Subsidiary Loan Party of a security interest to secure, such
Specified Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation
or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of
such Subsidiary Loan Party’s failure for any reason to constitute an “eligible contract participant” as defined
in the Commodity Exchange Act and the rules and regulations thereunder at the time the Guarantee of such Subsidiary Loan Party
or the grant of such security interest becomes or would become effective with respect to such related Specified Swap Obligation.
If a Specified Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to
the portion of such Specified Swap Obligation that is attributable to swaps for which such Guarantee or security interest is or
becomes illegal.

 

“Excluded Taxes” means
any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to a
Recipient: (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes and branch profits Taxes, in each
case (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case
of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof)
or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. Federal withholding Taxes imposed on amounts payable
to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect
on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request
by the Borrower under Section 2.18(b) or 9.02(c)) or (ii) such Lender changes its lending office, except in each case to the extent
that, pursuant to Section 2.16, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately
before such Lender acquired the applicable interest in a Loan or Commitment or to such Lender immediately before it changed its
lending office, (c) Taxes attributable to such Recipient’s failure to comply with Section 2.16(f) and (d) any U.S. Federal
withholding Taxes imposed under FATCA.

 

“Existing Letters of Credit”
means each letter of credit previously issued for the account of the Borrower or any of its Subsidiaries that is (a) outstanding
on the First A&R Effective Date and (b) listed on Schedule 1.01.

 

“Existing Revolving Borrowings”
has the meaning assigned to such term in Section 2.22(c).

 

    16

     

    

 

“Extended Maturity LC”
has the meaning assigned to such term in Section 2.04(c).

 

“Fair Labor Standards Act”
means the Fair Labor Standards Act, 29 U.S.C. §§ 201 et seq.

 

“FATCA” means Sections
1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable
and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any
agreements entered into pursuant to Section 1471(b) of the Code, any intergovernmental agreement entered into with respect
thereto and any fiscal or regulatory legislation, rules, or practices adopted pursuant to or in connection with the foregoing.

 

“FCPA” means the United
States Foreign Corrupt Practices Act of 1977, as amended.

 

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

 

“Financial Officer” means,
with respect to any Person, the chief financial officer, principal accounting officer, vice president (finance), treasurer or controller
of such Person.

 

“First A&R Effective Date”
means October 31, 2018.

 

“First Amendment” means
that certain First Amendment to the Original Credit Agreement, dated as of the First Amendment Effective Date, among, inter
alia, the Borrower, the Administrative Agent and the Lenders party thereto.

 

“First Amendment and Restatement
Agreement” means that certain First Amendment and Restatement Agreement, dated as of the First A&R Effective Date,
among, inter alia, the Borrower, the Administrative Agent, the Issuing Banks, the Swingline Lender and the other Lenders
party thereto.

 

“First Amendment Effective Date”
means June 6, 2017. 

 

“Foreign Benefit Event”
means, with respect to any Foreign Pension Plan, (a) the existence of unfunded liabilities in excess of the amount permitted
under any applicable law, or in excess of the amount that would be permitted absent a waiver from a Governmental Authority, (b) the
failure to make the required contributions or payments, under any applicable law, on or before the due date for such contributions
or payments,

 

    17

     

    

 

(c) the receipt of a notice by a Governmental Authority relating to the intention to terminate any such Foreign
Pension Plan or to appoint a trustee or similar official to administer any such Foreign Pension Plan, or alleging the insolvency
of any such Foreign Pension Plan, (d) the incurrence of any liability in excess of $10,000,000 by the Borrower or any Subsidiary
under any applicable law on account of the complete or partial termination of such Foreign Pension Plan or the complete or partial
withdrawal of any participating employer therein or (e) the occurrence of any transaction that is prohibited under any applicable
law and that would reasonably be expected to result in the incurrence of any liability by the Borrower or any Subsidiary, or the
imposition on the Borrower or any Subsidiary of any fine, excise tax or penalty resulting from any noncompliance with any applicable
law, in each case in excess of $10,000,000.

 

“Foreign Lender” means
(a) if the Borrower is a U.S. Person, then a Lender, with respect to such Borrower, that is not a U.S. Person and (b) if the Borrower
is not a U.S. Person, then a Lender, with respect to such Borrower, that is resident or organized under the laws of a jurisdiction
other than that in which the Borrower is resident for tax purposes.

 

“Foreign Pension Plan”
means any benefit plan that under applicable law of any jurisdiction other than the United States of America is required to be
funded through a trust or other funding vehicle other than a trust or funding vehicle maintained exclusively by a Governmental
Authority.

 

“Foreign Pledge Agreement”
means a pledge or charge agreement granting a Lien on Equity Interests in a Foreign Subsidiary to secure the Obligations, governed
by the law of the jurisdiction of organization of such Foreign Subsidiary and in form and substance reasonably satisfactory to
the Administrative Agent.

 

“Foreign Subsidiary” means
any Subsidiary that is organized under the laws of a jurisdiction other than the United States of America, any State thereof or
the District of Columbia.

 

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

 

“Governmental Authority”
means the government of the United States of America, any other nation or any political subdivision thereof, whether State or local,
and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative,
judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supranational
bodies exercising such powers or functions, such as the European Union or the European Central Bank).

 

“Granting Lender” has
the meaning assigned to such term in Section 9.04(e). 

 

“Guarantee” of or by any
Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing or having
the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary

 

    18

     

    

 

obligor”)
in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase
or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to
advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities
or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to
maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to
enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter
of credit or letter of guaranty issued to support such Indebtedness or other obligation; provided that the term “Guarantee”
shall not include endorsements for collection or deposit in the ordinary course of business. The amount, as of any date of determination,
of any Guarantee shall be the principal amount outstanding on such date of the Indebtedness or other obligation guaranteed thereby
(or, in the case of (i) any Guarantee the terms of which limit the monetary exposure of the guarantor or (ii) any Guarantee of
an obligation that does not have a principal amount, the maximum monetary exposure as of such date of the guarantor under such
Guarantee (as determined, in the case of clause (i), pursuant to such terms or, in the case of clause (ii), reasonably and in good
faith by a Financial Officer)). The term “Guarantee” used as a verb has a corresponding meaning.

 

“Hazardous Materials” means
all explosive, radioactive, hazardous or toxic substances, materials, wastes or other pollutants, including petroleum or petroleum
by-products or distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, chlorofluorocarbons
and other ozone-depleting substances or mold which are regulated pursuant to any Environmental Law.

 

“Hedging Agreement” means
any agreement with respect to any swap, forward, future or derivative transaction, or any option or similar agreement, involving,
or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination
of the foregoing transactions; provided that no phantom stock or similar plan providing for payments only on account of
services provided by current or former directors, officers, employees or consultants of the Borrower or any Subsidiary shall be
a Hedging Agreement.

 

“Incremental Facility Amendment”
has the meaning assigned to such term in Section 2.22(b). 

 

“Indebtedness” of any Person
means, without duplication, (a) all obligations of such Person for borrowed money or with respect to deposits or advances
of any kind, (b) all obligations of such Person evidenced by bonds (whether convertible or otherwise), debentures, notes or
similar instruments, (c) all obligations of such Person upon which interest charges are customarily paid, (d) all obligations
of such Person under conditional sale or other title retention agreements relating to property acquired by such Person excluding
trade accounts payable in the ordinary course of business, (e) all obligations of such Person in respect of the deferred purchase
price of property or

 

    19

     

    

 

services (excluding (i) trade accounts payable and other accrued obligations, in each case incurred in the
ordinary course of business, (ii) deferred compensation payable to directors, officers or employees of the Borrower or any Subsidiary
in the form of Qualified Equity Interests and (iii) any purchase price adjustment or earn out incurred in connection with an acquisition
except to the extent such amount is or becomes a liability on the balance sheet in accordance with GAAP), (f) all Indebtedness
of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured
by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed by
such Person (but only to the extent of the lesser of (x) the amount of such Indebtedness and (y) the fair market value of such
property if such Indebtedness has not been assumed by such Person), (g) all Guarantees by such Person of Indebtedness of others
of the types set forth in clauses (a) through (f) above and clauses (h) through (k) below, (h) all Capital Lease Obligations
of such Person, (i) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of
credit and letters of guaranty, (j) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances
and (k) all Disqualified Equity Interests in such Person, valued, as of the date of determination, at the greater of (i) the maximum
aggregate amount that would be payable upon maturity, redemption, repayment or repurchase thereof (or of Disqualified Equity Interests
or Indebtedness into which such Disqualified Equity Interests are convertible or exchangeable) and (ii) the maximum liquidation
preference of such Disqualified Equity Interests. The Indebtedness of any Person shall include the Indebtedness of any other entity
(including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result
of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness
provide that such Person is not liable therefor.

 

“Indemnified Taxes” means
(a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any
Loan Party under this Agreement or any other Loan Document and (b) to the extent not otherwise described in clause (a) of this
definition, Other Taxes.

 

“Indemnitee” has the meaning
assigned to such term in Section 9.03(b).

 

“Intercompany Indebtedness Subordination
Agreement” means the Intercompany Indebtedness Agreement attached as Exhibit F pursuant to which intercompany
obligations and advances owed by any Loan Party are subordinated to the Obligations.

 

“Interest Election Request”
means a request by the Borrower to convert or continue a Revolving Borrowing in accordance with Section 2.06, which shall
be, in the case of a written Interest Election Request, in a form reasonably satisfactory to the Administrative Agent and otherwise
consistent with the requirements of Section 2.06. 

 

“Interest Payment Date”
means (a) with respect to any ABR Loan (other than a Swingline Loan), the last day of each March, June, September and December,
(b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to

 

    20

     

    

 

the Borrowing of which such Loan
is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more than three months’ duration, each day
prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such
Interest Period and (c) with respect to any Swingline Loan, the day that such Loan is required to be repaid.

 

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

 

“Interpolated Screen Rate”
means, with respect to any Eurodollar Borrowing for any Interest Period, a rate per annum which results from interpolating on a
linear basis between (a) the applicable LIBO Screen Rate for the longest maturity for which a LIBO Screen Rate is available
that is shorter than such Interest Period and (b) the applicable LIBO Screen Rate for the shortest maturity for which a LIBO
Screen Rate is available that is longer than such Interest Period, in each case at approximately 11:00 a.m., London time, two Business
Days prior to the commencement of such Interest Period.

 

“Investment Company Act”
means the U.S. Investment Company Act of 1940, as amended.

 

“IRS” means the United
States Internal Revenue Service.

 

“Issuing Bank” means (a)
Citibank, N.A. and (b) any Person that shall have become an Issuing Bank hereunder as provided in Section 2.04(j). Each Issuing
Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of such Issuing Bank, in which
case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

 

“LC Disbursement” means
a payment made by an Issuing Bank pursuant to a Letter of Credit. 

 

“LC Exposure” means, at
any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time and (b) the aggregate
amount of

 

    21

     

    

 

all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure
of any Revolving Lender at any time shall be such Lender’s Applicable Percentage of the aggregate LC Exposure at such time.

 

“Lenders” means the Persons
listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption
or an Incremental Facility Amendment, other than any such Person that shall have ceased to be a party hereto pursuant to an Assignment
and Assumption; provided, however, that Section 9.03 shall continue to apply to each such Person that ceases to be
a party hereto pursuant to an Assignment and Assumption as if such Person is a “Lender”. Unless the context otherwise
requires, the term “Lenders” includes the Swingline Lenders.

 

“Letter of Credit” means
any letter of credit issued pursuant to this Agreement and any Existing Letter of Credit, other than any such letter of credit
that shall have ceased to be a “Letter of Credit” outstanding hereunder pursuant to Section 9.05.

 

“Leverage Ratio” means,
on any date, the ratio of (a) Total Indebtedness as of such date to (b) Consolidated EBITDA for the period of four consecutive
fiscal quarters of the Borrower most recently ended prior to such date.

 

“LIBO Rate” means, with
respect to any Eurodollar Borrowing for any Interest Period, a rate per annum equal to the London interbank offered rate as administered
by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in Dollars
(for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period as displayed on the Reuters
screen page that displays such rate (currently page LIBOR01) or, in the event such rate does not appear on a page of the Reuters
screen, on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative
Agent from time to time in its reasonable discretion (such applicable rate being called the “LIBO Screen Rate”),
at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period. If no LIBO Screen
Rate shall be available for a particular Interest Period but LIBO Screen Rates shall be available for maturities both longer and
shorter than such Interest Period, then the LIBO Rate for such Interest Period shall be the Interpolated Screen Rate. Notwithstanding
the foregoing, if the LIBO Rate, determined as provided above, would otherwise be less than 0.00%, then the LIBO Rate shall be
deemed to be 0.00% for all purposes.

 

“LIBO Screen Rate” has
the meaning assigned to such term in the definition of the term “LIBO Rate”.

 

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

 

    22

     

    

 

“Loan Document Obligations”
means (a) the due and punctual payment by the Borrower of (i) the principal of and interest (including interest accruing during
the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable
in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment
or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when
and as due, including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral
and (iii) all other monetary obligations of the Borrower under this Agreement and each of the other Loan Documents, including obligations
to pay fees, expense reimbursement obligations (including with respect to attorneys’ fees) and indemnification obligations,
whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency
of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding),
(b) the due and punctual performance of all other obligations of the Borrower under or pursuant to this Agreement and each of the
other Loan Documents and (c) the due and punctual payment and performance of all the obligations of each other Loan Party under
or pursuant to each of the Loan Documents (including monetary obligations incurred during the pendency of any bankruptcy, insolvency,
receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), in each case of clauses
(a), (b) and (c), whether now or hereafter owing.

 

“Loan Documents” means:
this Agreement; the First Amendment; the First Amendment and Restatement Agreement; the Original Credit Agreement; the Collateral
Agreement; the Perfection Certificate; the other Security Documents; the Intercompany Indebtedness Subordination Agreement; any
agreement designating an additional Issuing Bank as contemplated by Section 2.04(j); except for purposes of Section 9.02,
any promissory notes delivered pursuant to Section 2.08(c); any Incremental Facility Amendment; all other agreements, instruments,
documents and certificates executed and delivered at any time in connection with any of the foregoing (and, in each case, any amendment,
restatement, waiver, supplement or other modification to any of the foregoing); and any other document executed from time to time
in connection with the credit facilities provided for herein that the Administrative Agent and the Borrower agree in writing shall
be considered a “Loan Document”.

 

“Loan Parties” means, collectively,
the Borrower and the Subsidiary Loan Parties.

 

“Loans” means the loans
made by the Lenders to the Borrower pursuant to this Agreement, including any Incremental Facility Amendment.

 

“Material Adverse Effect”
means a material adverse effect on (a) the business, assets, liabilities (contingent or otherwise), operations, condition
(financial or otherwise) or operating results of the Borrower and the Subsidiaries, taken as a whole, (b) the ability of
any Loan Party to perform any of its material obligations under this

 

    23

     

    

 

Agreement or any other Loan Document or (c) the rights
of or benefits available to the Administrative Agent or the Lenders under this Agreement or any other Loan Document. 

 

“Material Indebtedness”
means Indebtedness (other than the Loans, the Letters of Credit and the Guarantees under the Loan Documents), or obligations in
respect of one or more Hedging Agreements, of any one or more of the Borrower and the Subsidiaries in an aggregate principal amount
exceeding $15,000,000. For purposes of determining Material Indebtedness, the “principal amount” of the obligations
of the Borrower or any Subsidiary in respect of any Hedging Agreement at any time shall be the maximum aggregate amount (giving
effect to any netting agreements) that the Borrower or such Subsidiary would be required to pay if such Hedging Agreement were
terminated at such time.

 

“Material Subsidiary” means
each Subsidiary (a) the consolidated total assets of which equal 5.00% or more of the consolidated total assets of the Borrower
and the Subsidiaries or (b) the consolidated revenues of which equal 5.00% or more of the consolidated revenues of the Borrower
and the Subsidiaries, in each case as of the end of or for the most recent period of four consecutive fiscal quarters of the Borrower
for which financial statements have been delivered pursuant to Section 5.01(a) or 5.01(b) (or, prior to the first
delivery of any such financial statements, as of the end of or for the period of four consecutive fiscal quarters of the Borrower
most recently ended prior to the date of this Agreement); provided that if, at the end of or for any such most recent period
of four consecutive fiscal quarters, the combined consolidated total assets or combined consolidated revenues of all Subsidiaries
that under clauses (a) and (b) above would not constitute Material Subsidiaries shall have exceeded 10.00% of the consolidated
total assets of the Borrower and the Subsidiaries or 10.00% of the consolidated revenues of the Borrower and the Subsidiaries,
respectively, then one or more of such excluded Subsidiaries shall for all purposes of this Agreement be deemed to be Material
Subsidiaries in descending order based on the amounts of their consolidated total assets or consolidated revenues, as applicable,
until such excess shall have been eliminated. For purposes of this definition, the consolidated total assets and consolidated revenues
of the Borrower and the Subsidiaries shall be determined on a Pro Forma Basis.

 

“Maximum Rate” has the
meaning assigned to such term in Section 9.13.

 

“MNPI” means material information
concerning the Borrower, any Subsidiary or any Affiliate of any of the foregoing or their securities that has not been disseminated
in a manner making it available to investors generally, within the meaning of Regulation FD under the Securities Act and the Exchange
Act. For purposes of this definition, “material information” means information concerning the Borrower, the Subsidiaries
or any Affiliate of any of the foregoing or any of their securities that would reasonably be expected to be material for purposes
of the United States federal and state securities laws and, where applicable, foreign securities laws.

 

“Moody’s” means Moody’s
Investors Service, Inc., and any successor to its rating agency business.

 

    24

     

    

 

“Mortgage” means a mortgage,
deed of trust, assignment of leases and rents, leasehold mortgage or other security document granting a Lien on any Mortgaged Property
to secure the Obligations. Each Mortgage shall be in form and substance reasonably satisfactory to the Administrative Agent.

 

“Mortgaged Property” means,
initially, each parcel of real property and the improvements thereto owned by a Loan Party and identified on Schedule 1.02,
and includes each other parcel of real property and the improvements thereto owned by a Loan Party with respect to which a Mortgage
is granted pursuant to Section 5.12 or 5.13.

 

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

 

“Net Proceeds” means, with
respect to any event, (a) the cash proceeds received in respect of such event, including (i) any cash received in respect
of any non-cash proceeds (including any cash payments received by way of deferred payment of principal pursuant to a note or installment
receivable or purchase price adjustment or earn out, but excluding any reasonable interest payments), but only as and when received,
(ii) in the case of a casualty, insurance proceeds and (iii) in the case of a condemnation or similar event, condemnation
awards and similar payments, minus (b) the sum, without duplication, of (i) all reasonable fees and out-of-pocket
expenses paid in connection with such event by the Borrower and the Subsidiaries to Persons other than Affiliates of the Borrower
or any Subsidiary, (ii) in the case of a sale, transfer, lease or other disposition of an asset (including pursuant to a sale
and leaseback transaction or a casualty or a condemnation or similar proceeding), the amount of all payments that are permitted
hereunder and are made by the Borrower and the Subsidiaries as a result of such event to repay Indebtedness (other than the Loans)
secured by such asset and (iii) the amount of all taxes paid (or reasonably estimated to be payable) by the Borrower and the
Subsidiaries, and the amount of any reserves established by the Borrower and the Subsidiaries in accordance with GAAP to fund purchase
price adjustment, indemnification and similar contingent liabilities (other than any earn out obligations) reasonably estimated
to be payable, in each case during the year that such event occurred or the next succeeding year and that are directly attributable
to the occurrence of such event (as determined reasonably and in good faith by a Financial Officer). For purposes of this definition,
in the event any contingent liability reserve established with respect to any event as described in clause (b)(iii) above shall
be reduced, the amount of such reduction shall, except to the extent such reduction is made as a result of a payment having been
made in respect of the contingent liabilities with respect to which such reserve has been established, be deemed to be receipt,
on the date of such reduction, of cash proceeds in respect of such event.

 

“Non-Consenting Lender”
has the meaning assigned to such term in Section 9.02(c).

 

“Obligations” means, collectively,
(a) all the Loan Document Obligations, (b) all the Secured Cash Management Obligations and (c) all the Secured Hedging Obligations.

 

    25

     

    

 

“OFAC” means the Office
of Foreign Assets Control of the U.S. Department of the Treasury.

 

“Original Credit Agreement”
has the meaning assigned to such term in the preamble hereto.

 

“Other Connection Taxes”
means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the
jurisdiction imposing such Taxes (other than connections arising from such Recipient having executed, delivered, become a party
to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other
transaction pursuant to or enforced this Agreement or any other Loan Document, or sold or assigned an interest in this Agreement
or any other Loan Document).

 

“Other Taxes” means all
present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made
under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security
interest under, or otherwise with respect to, this Agreement or any other Loan Document, except any such Taxes that are Other Connection
Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.18(b) or 9.02(c)).

 

“Participant” has the meaning
assigned to such term in Section 9.04(c).

 

“Participant Register”
has the meaning assigned to such term in Section 9.04(c).

 

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

 

“Perfection Certificate”
means the certificate attached as Exhibit D delivered to the Administrative Agent on the Effective Date.

 

“Permitted Acquisition”
means the purchase or other acquisition, by merger or otherwise, by the Borrower or any other wholly owned Subsidiary of all the
outstanding Equity Interests (other than directors’ qualifying shares) in, all or substantially all the assets of or all
or substantially all the assets constituting a business unit, division, product line or line of business of a Person if (a) such
acquisition was not preceded by, or consummated pursuant to, a hostile offer (including a proxy contest), (b) [reserved],
(c) no Default has occurred and is continuing or would result therefrom, (d) such acquisition and all transactions related
thereto are consummated in accordance with applicable laws, (e) all actions required to be taken with respect to such acquired
or newly formed Subsidiary or such acquired assets under Sections 5.12 and 5.13 shall have been taken (or arrangements for
the taking of such actions reasonably satisfactory to the Administrative Agent shall have been made), (f) the Borrower is
in compliance, on a Pro Forma Basis after giving effect to such acquisition as of the last day of the most recently ended fiscal
quarter of the Borrower, with the covenants contained in Sections 6.12 and 6.13, (g) [reserved], (h) the business of such
Person or such assets, as applicable,

 

    26

     

    

 

constitutes a business permitted by Section 6.03(b), (i) [reserved], (j) [reserved],
(k) any and all Indebtedness for borrowed money of such Person and its subsidiaries (in the case of an acquisition of Equity Interests)
or otherwise assumed by the Borrower or any of its Subsidiaries in connection with such acquisition, in each case at the time
of such acquisition, shall be repaid and discharged in full on the closing date thereof and (l) the Borrower has delivered to
the Administrative Agent a certificate of a Financial Officer certifying that all requirements set forth in clauses (a) through
(k) above have been satisfied and setting forth reasonably detailed calculations demonstrating compliance with clause (f) above
(which calculations shall, if made as of the last day of any fiscal quarter of the Borrower for which the Borrower has not delivered
to the Administrative Agent the financial statements and certificate of a Financial Officer required to be delivered by Section 5.01(a)
or (b) and Section 5.01(c), respectively, be accompanied by a reasonably detailed calculation of Consolidated EBITDA and Consolidated
Interest Expense for the relevant period). 

 

“Permitted Encumbrances”
means:

 

(a) Liens imposed by law for Taxes
that are not yet due or are being contested in compliance with Section 5.05;

 

(b) carriers’, warehousemen’s,
mechanics’, materialmen’s, repairmen’s, landlords’, suppliers’ and other like Liens imposed by law
(other than any Lien imposed pursuant to Section 430(k) of the Code or Section 303(k) of ERISA or a violation of Section 436 of
the Code), arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are
being contested in compliance with Section 5.05;

 

(c) pledges and deposits made
(i) in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and other social
security laws and (ii) in respect of letters of credit, bank guarantees or similar instruments issued for the account of the Borrower
or any Subsidiary in the ordinary course of business supporting obligations of the type set forth in clause (i) above;

 

(d) pledges and deposits made
(i) to secure the performance of bids, trade contracts (other than for payment of Indebtedness), leases (other than Capital Lease
Obligations), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each
case in the ordinary course of business and (ii) in respect of letters of credit, bank guarantees or similar instruments issued
for the account of the Borrower or any Subsidiary in the ordinary course of business supporting obligations of the type set forth
in clause (i) above;

 

(e) judgment liens in respect
of judgments that do not constitute an Event of Default under clause (k) of Article VII;

 

    27

     

    

 

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

 

(g) Liens arising from Permitted
Investments described in clause (d) of the definition of the term “Permitted Investments”;

 

(h) banker’s liens, rights
of setoff or similar rights and remedies as to deposit accounts or other funds maintained with depository institutions and securities
accounts and other financial assets maintained with a securities intermediary; provided that such deposit accounts or funds
and securities accounts or other financial assets are not established or deposited for the purpose of providing collateral for
any Indebtedness and are not subject to restrictions on access by the Borrower or any Subsidiary in excess of those required by
applicable banking regulations;

 

(i) Liens arising by virtue of
Uniform Commercial Code financing statement filings (or similar filings under applicable law) regarding operating leases or consignments
entered into by the Borrower and the Subsidiaries;

 

(j) Liens of a collecting bank
arising in the ordinary course of business under Section 4-208 (or the applicable corresponding section) of the Uniform Commercial
Code in effect in the relevant jurisdiction covering only the items being collected upon;

 

(k) Liens representing any interest
or title of a licensor, lessor or sublicensor or sublessor, or a licensee, lessee or sublicensee or sublessee, in the property
subject to any lease, license or sublicense or concession agreement permitted by this Agreement;

 

(l) Liens in favor of customs
and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods;
and

 

(m) Liens that are contractual
rights of set-off;

 

provided that the term “Permitted Encumbrances”
shall not include any Lien securing Indebtedness, other than Liens referred to clauses (c) and (d) above securing letters of credit,
bank guarantees or similar instruments.

 

“Permitted Investments”
means:

 

(a) direct obligations of, or
obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America (or by any
agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America); provided
that in each case such

 

    28

     

    

 

obligations mature within two years from the date of acquisition thereof, and that the weighted average
maturity of such securities does not exceed one year from the date of acquisition thereof; 

 

(b) commercial paper, bonds or
debentures issued by any Lender or any corporation organized and existing under the laws of the United States or any State thereof
and having short term ratings of at least A-1 from S&P or P-1 from Moody’s (or, if at any time neither S&P nor Moody’s
shall be rating such obligations, then the highest rating from such other nationally recognized rating services acceptable to the
Administrative Agent), or long term ratings of at least AA- from S&P or Aa3 from Moody’s; provided that such obligations
mature within two years of the date of the acquisition thereof, and that the weighted average maturity of such securities does
not exceed one year from the date of acquisition thereof;

 

(c) certificates of deposits or
banker’s acceptances, in each case maturing within one year from the date of acquisition thereof, and money market accounts,
in each case issued or offered by any Lender or any other commercial bank organized under the laws of the United States of America
or any State thereof or the District of Columbia, in each case having combined capital and surplus and undivided profits of not
less than $1,000,000,000;

 

(d) fully collateralized repurchase
agreements with a term of not more than 30 days for securities described in clause (a) above and entered into with a financial
institution satisfying the criteria described in clause (c) above;

 

(e) “money market funds”
that (i) comply with the criteria set forth in Rule 2a-7 of the Investment Company Act, (ii) are rated AAA by S&P and
Aaa by Moody’s and (iii) have portfolio assets of at least $2,500,000,000;

 

(f) in the case of any Foreign
Subsidiary, other short term investments that are analogous to the foregoing, are of comparable credit quality and are customarily
used by companies in the jurisdiction of such Foreign Subsidiary for cash management purposes; and

 

(g) securities issued by any State
or political subdivision of the United States, having long term ratings of at least AA- from S&P or Aa3 from Moody’s;
provided that such obligations mature within two years of the date of acquisition thereof, and that the weighted average
maturity of such securities does not exceed one year from the date of acquisition thereof.

 

“Per Share Cap” has the
meaning assigned to such term in Section 6.08(a)(viii).

 

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

 

    29

     

    

 

“Plan” means any “employee
pension benefit plan”, as defined in Section 3(2) of ERISA (other than a Multiemployer Plan), that is subject to the provisions
of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or
any of its ERISA Affiliates is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer”
as defined in Section 3(5) of ERISA.

 

“Platform” has the meaning
assigned to such term in Section 9.01(d).

 

“Prepayment Event” means:

 

(a) any sale, transfer, lease
or other disposition (including pursuant to a sale and leaseback transaction and by way of merger or consolidation) (for purposes
of this defined term, collectively, “dispositions”) of any asset of the Borrower or any Subsidiary (including
Equity Interests of any Subsidiary), other than (i) dispositions described in clauses (a), (b), (c), (f), (g), (h), (i) and (k)
of Section 6.05 and (ii) other dispositions resulting in aggregate Net Proceeds not exceeding (A) $2,500,000 in the case of any
single disposition or series of related dispositions and (B) $5,000,000 for all such dispositions during any fiscal year of the
Borrower;

 

(b) any casualty or other insured
damage to, or any taking under power of eminent domain or by condemnation or similar proceeding of, any asset of the Borrower or
any Subsidiary with a fair market value immediately prior to such event equal to or greater than $2,500,000; or

 

(c) the incurrence by the Borrower
or any Subsidiary of any Indebtedness, other than Indebtedness permitted to be incurred under Section 6.01 or permitted by
the Required Lenders pursuant to Section 9.02.

 

“Prime Rate” means the
rate of interest per annum publicly announced from time to time by Citibank, N.A. as its prime rate in effect at its principal
office in New York City. Each change in the Prime Rate shall be effective from and including the date such change is publicly announced
as being effective.

 

“Private Side Lender Representatives”
means, with respect to any Lender, representatives of such Lender that are not Public Side Lender Representatives. 

 

“Pro Forma Basis” means,
with respect to the calculation of the financial covenants contained in Sections 6.12 and 6.13 or otherwise for purposes of
determining the Leverage Ratio, Secured Leverage Ratio, Consolidated Interest Expense, Consolidated EBITDA or any other calculation
hereunder required to be made on a pro forma basis, as of any date or for any period, that such calculation shall give pro forma
effect in accordance with Article 11 of Regulation S-X under the Securities Act, to all Permitted Acquisitions and other investments,
all issuances, incurrences or assumptions of Indebtedness (with any such Indebtedness being deemed to be amortized over the applicable
testing period in accordance with its terms) and all sales, transfers or other dispositions of any material assets outside the
ordinary course of business (and any

 

    30

     

    

 

related prepayments or repayments of Indebtedness) that have occurred during (or, if such
calculation is being made for the purpose of determining whether any proposed acquisition will constitute a Permitted Acquisition
or whether any Revolving Commitment Increase may be made or whether any other action may be taken, since the beginning of) the
four consecutive fiscal quarter period of the Borrower most recently ended on or prior to such date as if they occurred on the
first day of such four consecutive fiscal quarter period (including expected cost savings, synergies or operating expense reductions
in an aggregate amount not to exceed 15% of Consolidated EBITDA (prior to giving effect to any such add-backs) for such period
(without duplication of actual cost savings) to the extent such cost savings, synergies or operating expense reductions would be
permitted to be reflected in pro forma financial information complying with the requirements of GAAP and Article 11 of Regulation S-X
under the Securities Act as interpreted by the Staff of the SEC, and as certified by a Financial Officer). If any Indebtedness
bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated as
if the rate in effect on the date of determination had been the applicable rate for the entire period (taking into account any
Hedging Agreement applicable to such Indebtedness if such Hedging Agreement has a remaining term in excess of 12 months).

 

“Proposed Change” has the
meaning assigned to such term in Section 9.02(c).

 

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

 

“Public Side Lender Representatives”
means, with respect to any Lender, representatives of such Lender that do not wish to receive MNPI.

 

“Qualified Equity Interests”
means Equity Interests of the Borrower other than Disqualified Equity Interests.

 

“Ratio-Based Incremental Availability”
has the meaning assigned to such term in Section 2.22(a).

 

“Recipient” means (a)
the Administrative Agent, (b) any Lender and (c) any Issuing Bank, as applicable. 

 

“Refinancing Indebtedness”
means, in respect of any Indebtedness (the “Original Indebtedness”), any Indebtedness that extends, renews or
refinances such Original Indebtedness (or any Refinancing Indebtedness in respect thereof); provided that (a) the principal
amount (or accreted value, if applicable) of such Refinancing Indebtedness shall not exceed the principal amount (or accreted value,
if applicable) of such Original Indebtedness except by an amount no greater than accrued and unpaid interest with respect to such
Original Indebtedness and any reasonable fees, premium and expenses relating to such extension, renewal or refinancing; (b) the
stated final maturity of such Refinancing Indebtedness shall not be earlier than that of such Original Indebtedness, and such stated
final maturity shall not be subject to any conditions that

 

    31

     

    

 

could result in such stated final maturity occurring on a date that
precedes the stated final maturity of such Original Indebtedness (except upon the occurrence of a default or change of control
or as and to the extent such acceleration of the stated final maturity thereof would have been required pursuant to the terms of
the Original Indebtedness); (c) such Refinancing Indebtedness shall not be required to be repaid, prepaid, redeemed, repurchased
or defeased, whether on one or more fixed dates, upon the occurrence of one or more events or at the option of any holder thereof
(except, in each case, upon the occurrence of an event of default or a change in control or as and to the extent such repayment,
prepayment, redemption, repurchase or defeasance would have been required pursuant to the terms of such Original Indebtedness)
prior to the earlier of (i) the maturity of such Original Indebtedness and (ii) the date 91 days after the Revolving Maturity Date
in effect on the date of such extension, renewal or refinancing, provided that, notwithstanding the foregoing, scheduled
amortization payments (however denominated) of such Refinancing Indebtedness shall be permitted so long as the weighted average
life to maturity of such Refinancing Indebtedness shall be longer than the weighted average life to maturity of such Original Indebtedness
remaining as of the date of such extension, renewal or refinancing; (d) such Refinancing Indebtedness shall not constitute an obligation
(including pursuant to a Guarantee) of the Borrower or any Subsidiary, in each case that shall not have been (or, in the case of
after-acquired Subsidiaries, shall not have been required to become pursuant to the terms of the Original Indebtedness) an obligor
in respect of such Original Indebtedness, and, in each case, shall constitute an obligation of the Borrower or such Subsidiary
only to the extent of their obligations in respect of such Original Indebtedness; (e) if such Original Indebtedness shall have
been subordinated to the Loan Document Obligations, such Refinancing Indebtedness shall also be subordinated to the Loan Document
Obligations on terms not less favorable in any material respect to the Lenders; and (f) such Refinancing Indebtedness shall not
be secured by any Lien on any asset other than the assets that secured such Original Indebtedness (or would have been required
to secure such Original Indebtedness pursuant to the terms thereof) or, in the event Liens securing such Original Indebtedness
shall have been contractually subordinated to any Lien securing the Loan Document Obligations, by any Lien that shall not have
been contractually subordinated to at least the same extent pursuant to an intercreditor agreement in form and substance satisfactory
to the Administrative Agent.

 

“Register” has the meaning
assigned to such term in Section 9.04(b)(iv).

 

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

 

“Release” means any release,
spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge, dispersal, leaching or migration into or through
the environment (including ambient air, surface water, groundwater, land surface or subsurface strata) or within or upon any building,
structure, facility or fixture.

 

    32

     

    

 

“Required Lenders” means,
at any time, Lenders having Revolving Exposures and unused Commitments (other than Swingline Commitments) representing more than
50% of the sum of the Aggregate Revolving Exposure and unused Commitments (other than Swingline Commitments) at such time.

 

“Requirement of Law” means,
with respect to any Person, (a) the charter, articles or certificate of organization or incorporation and bylaws or other
organizational or governing documents of such Person and (b) any law (including common law), statute, ordinance, treaty, rule,
regulation, order, decree, writ, injunction, settlement agreement or determination of any arbitrator or court or other Governmental
Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its
property is subject.

 

“Responsible Officer” means,
with respect to any Person, the chief executive officer, chief operating officer, president, or any Financial Officer of such Person.

 

“Restricted Payment” means
any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests in the
Borrower or any Subsidiary, or any payment or distribution (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, exchange, conversion, cancelation or
termination of any Equity Interests in the Borrower or any Subsidiary, or any other payment (including any payment under any Hedging
Agreement) that has a substantially similar effect to any of the foregoing.

 

“Resulting Revolving Borrowings”
has the meaning assigned to such term in Section 2.22(c).

 

“Revolving Availability Period”
means the period from and including the First A&R Effective Date to but excluding the earlier of the Revolving Maturity Date
and the date of termination of the Revolving Commitments.

 

“Revolving Commitment”
means, with respect to each Lender, the commitment, if any, of such Lender to make Revolving Loans and to acquire participations
in Letters of Credit and Swingline Loans hereunder, expressed as an amount representing the maximum possible aggregate amount of
such Lender’s Revolving Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.07,
(b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04 and
(c) increased from time to time pursuant to Section 2.22. The initial amount of each Lender’s Revolving Commitment is set
forth on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Revolving
Commitment, as applicable. As of the First A&R Effective Date, the aggregate amount of the Lenders’ Revolving Commitments
is $300,000,000.

 

    33

     

    

 

“Revolving Commitment Increase”
has the meaning assigned to such term in Section 2.22(a).

 

“Revolving Commitment Increase Lender”
means, with respect to any Revolving Commitment Increase, each Additional Lender providing a portion of such Revolving Commitment
Increase.

 

“Revolving Exposure” means,
with respect to any Lender at any time, the sum of (a) the outstanding principal amount of such Lender’s Revolving Loans,
(b) such Lender’s LC Exposure and (c) such Lender’s Swingline Exposure, in each case, at such time.

 

“Revolving Lender” means
a Lender with a Revolving Commitment or, if the Revolving Commitments have terminated or expired, a Lender with Revolving Exposure.

 

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

 

“Revolving Loan” means
a Loan made pursuant to Section 2.01.

 

“Revolving Maturity Date”
means October 31, 2023; provided that, if the Borrower or any of its Subsidiaries incurs at any time after the First A&R
Effective Date any Indebtedness for borrowed money pursuant to Section 6.01(a)(xiv) with an initial aggregate principal amount
in excess of $5,000,000 and such Indebtedness is scheduled to have a final maturity on any date prior to the date that is 91 days
after October 31, 2023 (such 91st day, the “Revolving Reference Date”), then, unless such Indebtedness has previously
been repaid (other than with proceeds of Indebtedness) or refinanced in full with Refinancing Indebtedness that (i) has a final
maturity after the Revolving Reference Date and (ii) does not have a Weighted Average Life to Maturity that is less than 91 days
longer than the Weighted Average Life to Maturity of the Revolving Loans, the Revolving Maturity Date shall instead be the earlier
of (x) October 31, 2023 and (y) the date that is 91 days prior to the scheduled final maturity date of such Indebtedness.

 

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

 

“Sanctioned Country” means,
at any time, a country or territory which is itself the subject or target of any Sanctions.

 

“Sanctioned Person” means,
at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by OFAC or the U.S. Department
of State or by the United Nations Security Council, the European Union or any EU member state, (b) any Person operating, organized
or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons. 

 

“Sanctions” means economic
or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government,

 

    34

     

    

 

including
those administered by OFAC or the U.S. Department of State (including, without limitation, any sanctions or requirements imposed
by, or based upon, the obligations set forth in the USA PATRIOT Act), or (b) the United Nations Security Council, the European
Union or Her Majesty’s Treasury of the United Kingdom.

 

“SEC” means the United
States Securities and Exchange Commission or any Governmental Authority succeeding to any of its principal functions.

 

“Secured Cash Management Obligations”
means the due and punctual payment and performance of any and all obligations of the Borrower and each Subsidiary (whether absolute
or contingent and however and whenever created, arising, evidenced or acquired (including all renewals, extensions and modifications
thereof and substitutions therefor)) arising in respect of Cash Management Services that (a) are owed to the Administrative Agent,
any Arranger or an Affiliate of any of the foregoing, or to any Person that, at the time such obligations were incurred, was the
Administrative Agent, any Arranger or an Affiliate of any of the foregoing, (b) were owed on the Effective Date to a Person that
is a Lender or an Affiliate of a Lender as of the Effective Date or (c) are owed to a Person that is a Lender or an Affiliate of
a Lender at the time such obligations are incurred.

 

“Secured Hedging Obligations”
means the due and punctual payment and performance of any and all obligations of the Borrower and each Subsidiary arising under
each Hedging Agreement that (a) is with a counterparty that is the Administrative Agent, any Arranger or an Affiliate of any of
the foregoing, or any Person that, at the time such Hedging Agreement was entered into, was the Administrative Agent, any Arranger
or an Affiliate of any of the foregoing, (b) was in effect on the Effective Date with a counterparty that is a Lender or an Affiliate
of a Lender as of the Effective Date or (c) is entered into after the Effective Date with a counterparty that is a Lender or an
Affiliate of a Lender at the time such Hedging Agreement is entered into. Notwithstanding the foregoing, in the case of any Excluded
Swap Guarantor, “Secured Hedging Obligations” shall not include Excluded Swap Obligations of such Excluded Swap Guarantor.

 

“Secured Leverage Ratio”
means, on any date, the ratio of (a) Total Secured Indebtedness as of such date to (b) Consolidated EBITDA for the period
of four consecutive fiscal quarters of the Borrower most recently ended prior to such date.

 

“Secured Parties” means,
collectively, (a) the Lenders, (b) the Administrative Agent, (c) the Arrangers, (d) each Issuing Bank, (e) each provider of Cash
Management Services the obligations under which constitute Secured Cash Management Obligations, (f) each counterparty to any Hedging
Agreement the obligations under which constitute Secured Hedging Obligations, (g) the beneficiaries of each indemnification obligation
undertaken by any Loan Party under this Agreement or any other Loan Document and (h) the successors and assigns of each of the
foregoing.

 

“Securities Act” means
the United States Securities Act of 1933, as amended.

 

    35

     

    

 

“Security Documents” means
the Collateral Agreement, the Foreign Pledge Agreements (if any), the Mortgages (if any) and each other security agreement or other
instrument or document executed and delivered pursuant to any of the foregoing or pursuant to Section 5.12 or 5.13 to secure
any of the Obligations.

 

“Segment Level Basis” means,
with respect to the statements of cash flows required to be delivered by the Borrower pursuant to Sections 5.01(a) and (b) hereof,
statements of cash flows prepared on a segment level basis in a form reasonably acceptable to the Administrative Agent.

 

“Specified Swap Obligation”
means, with respect to any Subsidiary Loan Party, an obligation to pay or perform under any agreement, contract or transaction
that constitutes a “swap” within the meaning of §1a(47) of the Commodity Exchange Act.

 

“SPV” has the meaning assigned
to such term in Section 9.04(e).

 

“Statutory Reserve Rate”
means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number
one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves)
expressed as a decimal established by the Board of Governors and any other banking authority (domestic or foreign) to which the
Administrative Agent or any Lender (including any branch, Affiliate or fronting office making or holding a Loan) is subject for
eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board of Governors).
Such reserve percentages shall include those imposed pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute
eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets
that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory
Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.

 

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

 

“Subsidiary” means any
subsidiary of the Borrower.

 

“Subsidiary Loan Party”
means each Subsidiary that is or, after the date hereof, becomes a party to the Collateral Agreement.

 

    36

     

    

 

“Supplemental Perfection Certificate”
means a certificate in the form of Exhibit E or any other form reasonably satisfactory to the Administrative Agent.

 

“Swingline Commitment”
means, with respect to each Swingline Lender, the commitment of such Swingline Lender to make Swingline Loans pursuant to Section
2.21, expressed as an amount representing the maximum aggregate principal amount of such Swingline Lender’s outstanding Swingline
Loans hereunder. The initial amount of the Swingline Lender’s Swingline Commitment is set forth on Schedule 2.21 or
in the joinder agreement pursuant to which it became a Swingline Lender hereunder. The aggregate amount of the Swingline Commitments
on the First A&R Effective Date is $25,000,000.

 

“Swingline Exposure” means,
at any time, the aggregate principal amount of all Swingline Loans outstanding at such time. The Swingline Exposure of any Revolving
Lender at any time shall be the sum of (a) its Applicable Percentage of the aggregate principal amount of all Swingline Loans outstanding
at such time (excluding, in the case of any Revolving Lender that is a Swingline Lender, Swingline Loans made by it and outstanding
at such time to the extent that the other Lenders shall not have funded their participations in such Swingline Loans), adjusted
to give effect to any reallocation under Section 2.19 of the Swingline Exposure of Defaulting Lenders in effect at such time,
and (b) in the case of any Lender that is a Swingline Lender, the aggregate principal amount of all Swingline Loans made by such
Lender and outstanding at such time to the extent that the other Lenders shall not have funded their participations in such Swingline
Loans.

 

“Swingline Lender” means
(a) Citibank, N.A. in its capacity as a lender of Swingline Loans hereunder, and (b) any other Revolving Lender designated as a
Swingline Lender pursuant to a joinder agreement executed by the Borrower and such Revolving Lender and reasonably satisfactory
to the Administrative Agent, in each case in its capacity as a lender of Swingline Loans hereunder.

 

“Swingline Loan” means
a Loan made pursuant to Section 2.21.

 

“Syndication Agent” means
Manufacturers and Traders Trust Company, in its capacity as syndication agent and documentation agent for the credit facilities
provided for herein.

 

“Taxes” means all present
or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other
charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

 

“Total Indebtedness” means,
as of any date, without duplication, for the Borrower and its subsidiaries on a consolidated basis determined in accordance with
GAAP, the sum of the aggregate principal amount of Indebtedness of the Borrower and the Subsidiaries outstanding as of such date;
provided that, for the purposes of calculating Total Indebtedness, the term “Indebtedness” shall not include
(i) obligations under any

 

    37

     

    

 

derivative transaction or other Hedging Agreement (unless such obligations are payment obligations that
relate to a derivative transaction or other Hedging Agreement that has been terminated) and (ii) any cash secured letter of credit
(including any cash secured Letters of Credit), any contingent obligations under undrawn letters of credit, bank guarantees, surety
bonds and similar instruments supporting trade payables, workers’ compensation and similar obligations and other non-financial
obligations (and any financial obligations arising from the non-performance of such non-financial obligation until such time as
such financial obligation becomes due and payable), and any Guarantee of any of the foregoing.

 

“Total Secured Indebtedness”
means, as of any date, without duplication, for the Borrower and its subsidiaries on a consolidated basis determined in accordance
with GAAP, the aggregate principal amount of Indebtedness of the Borrower and the Subsidiaries secured by Liens on any assets or
property of the Borrower or any Subsidiary outstanding as of such date; provided that, for the purposes of calculating Total
Secured Indebtedness, the term “Indebtedness” shall not include (i) obligations under any derivative transaction or
other Hedging Agreement (unless such obligations are payment obligations that relate to a derivative transaction or other Hedging
Agreement that has been terminated) and (ii) any cash secured letter of credit (including any cash secured Letters of Credit),
any contingent obligations under undrawn letters of credit, bank guarantees, surety bonds and similar instruments supporting trade
payables, workers’ compensation and similar obligations and other non-financial obligations (and any financial obligations
arising from the non-performance of such non-financial obligation until such time as such financial obligation becomes due and
payable), and any Guarantee of any of the foregoing.

 

“Transaction Costs” means
all fees, costs and expenses incurred or payable by the Borrower or any Subsidiary in connection with the Transactions.

 

“Transactions” means, collectively,
(a) the execution, delivery and performance by each Loan Party of the Loan Documents (including this Agreement) to which it
is to be a party, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder, (b)
the prepayment in full of all term loans outstanding under the Original Credit Agreement on the First A&R Effective Date and
(c) the payment of the Transaction Costs.

 

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

 

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

 

“U.S. Tax Compliance Certificate”
has the meaning assigned to such term in Section 2.16(f)(ii)(B)(3).

 

    38

     

    

 

“USA PATRIOT Act” means
the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001,
as amended.

 

“Weighted Average Life to Maturity”
means, when applied to any Indebtedness at any date, the number of years (and/or portion thereof) obtained by dividing: (a) the
sum of the products obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity or
other required payments of principal, including payment at final maturity, in respect thereof, by (ii) the number of years (calculated
to the nearest one-twelfth) that will elapse between such date and the making of such payment; by (b) the then outstanding principal
amount of such Indebtedness. For the purpose of calculating the Weighted Average Life to Maturity of Revolving Loans, such loans
shall be deemed to have been borrowed on the First A&R Effective Date and remain outstanding without being prepaid or repaid
until October 31, 2023.

 

“wholly owned Subsidiary”
means, with respect to any Person at any date, a subsidiary of such Person of which securities or other ownership interests representing
100% of the Equity Interests (other than directors’ qualifying shares) are, as of such date, owned, controlled or held by
such Person or one or more wholly owned Subsidiaries of such Person or by such Person and one or more wholly owned Subsidiaries
of such Person.

 

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

 

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

 

SECTION 1.03.  Terms Generally.
The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context
may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”.
The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the
context requires otherwise or except as expressly provided herein, (a) any definition of or reference to any agreement, instrument
or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended,
amended and restated, supplemented or otherwise modified (subject to any restrictions on such amendments, restatements, supplements
or modifications set forth herein), (b) any definition of or reference to any statute, rule or regulation shall be construed as
referring thereto as from time to time amended, supplemented or otherwise modified (including by succession of comparable successor
laws), unless otherwise expressly stated to the contrary, (c) any reference herein to any Person shall be construed to include
such Person’s successors and assigns (subject to any restrictions on assignments set forth

 

    39

     

    

 

herein), (d) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in
its entirety and not to any particular provision hereof, (e) all references herein to Articles, Sections, Exhibits and Schedules
shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (f) the words
“asset” and “property” shall be construed to have the same meaning and effect and to refer to any and
all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

 

SECTION 1.04.  Accounting Terms;
GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in
accordance with GAAP, as in effect from time to time; provided that (i) if the Borrower notifies the Administrative
Agent that the Borrower requests an amendment to any provision (including any definition) hereof to eliminate the effect of any
change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative
Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless
of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall
be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until
such notice shall have been withdrawn or such provision amended in accordance herewith and (ii) notwithstanding any other
provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations
of amounts and ratios referred to herein shall be made, (A) without giving effect to any election under Statement of Financial
Accounting Standards 159, The Fair Value Option for Financial Assets and Financial Liabilities, or any successor thereto (including
pursuant to the Accounting Standards Codification), to value any Indebtedness of the Borrower or any Subsidiary at “fair
value”, as defined therein, (B) without giving effect to any treatment of Indebtedness in respect of convertible debt instruments
under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard
having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and
such Indebtedness shall at all times be valued at the full stated principal amount thereof, and (C) without giving effect to any
change to GAAP occurring after the date hereof as a result of the adoption of any proposals set forth in the Proposed Accounting
Standards Update, Leases (Topic 840), issued by the Financial Accounting Standards Board on August 17, 2010, or any other
proposals issued by the Financial Accounting Standards Board in connection therewith, in each case if such change would require
treating any lease (or similar arrangement conveying the right to use) as a capital lease where such lease (or similar arrangement)
would not have been required to be so treated under GAAP as in effect on the date hereof and for all purposes under this Agreement
and the Loan Documents, including negative covenants, financial covenants and component definitions, the parties shall treat operating
leases (or similar arrangements) and capital leases in a manner consistent with their current treatment under GAAP as in effect
on the Effective Date, notwithstanding any modifications or interpretive changes thereto that may occur thereafter. 

 

SECTION 1.05.  Pro Forma and
Other Calculations. Notwithstanding anything to the contrary herein, for purposes of determining compliance with the

 

    40

     

    

 

covenants
contained in Sections 6.12 and 6.13 or otherwise for purposes of determining the Leverage Ratio, Secured Leverage Ratio, Consolidated
EBITDA and Consolidated Interest Expense, such calculations shall be made on a Pro Forma Basis with respect to any Permitted Acquisition
or any sale, transfer or other disposition of any material assets outside the ordinary course of business to the extent any such
event occurs during the applicable four-quarter period to which such calculation relates, or subsequent to the end of such four-quarter
period but not later than the date of such calculation.

 

SECTION 1.06.  Times of Day.
Unless otherwise specified, all references herein to times of day shall be references to New York City time.

 

SECTION 1.07.  Deliveries.
Notwithstanding anything herein to the contrary, whenever any document, agreement or other item is required by any Loan Document
to be delivered on a day that is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day.

 

SECTION 1.08.  Schedules and
Exhibits. All of the schedules and exhibits attached to this Agreement shall be deemed incorporated herein by reference.

 

SECTION 1.09.  Currency Generally.
For purposes of determining compliance with Section 6.01, Section 6.02 and Section 6.04 with respect to any amount of Indebtedness,
Lien or investment in a currency other than dollars, no Default or Event of Default shall be deemed to have occurred solely as
a result of changes in rates of currency exchange occurring after the time such Indebtedness, Lien or investment is incurred or
granted, made or acquired (so long as such Indebtedness, Lien or investment, at the time incurred or granted, made or acquired,
was permitted hereunder).

 

ARTICLE II

The Credits

 

SECTION 2.01.  Commitments.
Subject to the terms and conditions set forth herein, each Lender agrees to make revolving credit loans to the Borrower from time
to time during the Revolving Availability Period in an aggregate principal amount that will not result in such Lender’s Revolving
Exposure exceeding such Lender’s Revolving Commitment or the Aggregate Revolving Exposure exceeding the Aggregate Revolving
Commitment. All Loans shall be denominated in dollars. Within the foregoing limits and subject to the terms and conditions set
forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans.

 

SECTION 2.02.  Loans and Borrowings.
Each Loan (other than a Swingline Loan) shall be made as part of a Borrowing consisting of Loans of the same Type made by
the Lenders ratably in accordance with their respective Commitments. Each Swingline Loan shall be made as part of a Borrowing
consisting of Swingline Loans made by the Swingline Lenders ratably in accordance with their respective Swingline Commitments.
The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder;
provided that the

 

    41

     

    

 

Commitments of the Lenders are several, and not joint, and no Lender shall be responsible for any other
Lender’s failure to make Loans as required. 

 

(a)  Subject
to Section 2.13, each Borrowing (other than in respect of Swingline Loans) shall be comprised entirely of ABR Loans or Eurodollar
Loans as the Borrower may request in accordance herewith; provided that all Borrowings made on the First A&R Effective
Date must be made as ABR Borrowings unless the Borrower shall have given the notice required for a Eurodollar Borrowing under Section
2.03. Each Swingline Loan shall be an ABR Loan. Each Lender at its option may make any Eurodollar Loan by causing any domestic
or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect
the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

 

(b)  At
the commencement of each Interest Period for any Eurodollar Borrowing, other than as it relates to the Borrowing of Revolving Loans
made on the First A&R Effective Date, such Borrowing shall be in an aggregate amount that is an integral multiple of $500,000
and not less than $1,000,000; provided that a Eurodollar Borrowing that results from a continuation of an outstanding Eurodollar
Borrowing may be in an aggregate amount that is equal to such outstanding Borrowing. At the time that each ABR Revolving Borrowing
is made, other than as it relates to the Borrowing of Revolving Loans made on the First A&R Effective Date, such Borrowing
shall be in an aggregate amount that is an integral multiple of $500,000 and not less than $1,000,000. Each Swingline Loan shall
be in an amount that is an integral multiple of $100,000 and not less than $500,000. Borrowings of more than one Type may be outstanding
at the same time; provided that there shall not at any time be more than a total of six Eurodollar Borrowings outstanding.
Notwithstanding anything to the contrary herein, (x) an ABR Revolving Borrowing may be in an aggregate amount that is equal to
the entire unused balance of the Aggregate Revolving Commitment and (y) an ABR Revolving Borrowing or a Swingline Loan may be in
an aggregate amount that is equal to the amount that is required to finance the reimbursement of an LC Disbursement as contemplated
by Section 2.04(e).

 

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

 

SECTION 2.03.  Requests for Borrowings.
To request a Borrowing (other than in respect of a Swingline Loan), the Borrower shall notify the Administrative Agent of such
request by telephone (a) in the case of a Eurodollar Borrowing (other than any Eurodollar Borrowing to be made on the First
A&R Effective Date) not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed
Borrowing or (b) in the case of an ABR Borrowing (other than any ABR Borrowing to be made on the First A&R Effective Date),
not later than 10:00 a.m., New York City time, on the day of the proposed Borrowing. Each such telephonic Borrowing Request
shall be irrevocable and shall be confirmed promptly by hand delivery or facsimile to the Administrative Agent of a written Borrowing
Request signed by a Responsible Officer of

 

    42

     

    

 

the Borrower. Each such telephonic and written
Borrowing Request shall specify the following information (to the extent applicable, in compliance with Sections 2.01 and 2.02): 

 

(i) [reserved];

 

(ii) the aggregate amount of such
Borrowing;

 

(iii) the requested date of such
Borrowing, which shall be a Business Day;

 

(iv) whether such Borrowing is
to be an ABR Borrowing or a Eurodollar Borrowing;

 

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

 

(vi) the location and number of
the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.05(a),
or, if the Borrowing is being requested to finance the reimbursement of an LC Disbursement in accordance with Section 2.04(e),
the identity of the Issuing Bank that made such LC Disbursement; and

 

(vii) that as of such date the
conditions in Sections 4.02(a) and 4.02(b) are satisfied.

 

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

 

SECTION 2.04.  Letters of Credit.
(a) General. Subject to the terms and conditions set forth herein, the Borrower may request the issuance of Letters of Credit
for its own account (or for the account of any Subsidiary Loan Party; it being understood that the Borrower will be jointly and
severally responsible for such Subsidiary Loan Party’s obligations in respect of any such Letter of Credit), denominated
in dollars and in a form reasonably acceptable to the Administrative Agent and the applicable Issuing Bank, at any time and from
time to time during the Revolving Availability Period. On the First A&R Effective Date, each “Letter of Credit”
outstanding under the Original Credit Agreement shall, automatically and without any action on the part of any Person, continue
as a Letter of Credit issued hereunder for all purposes of this Agreement and the other Loan Documents. Notwithstanding anything
contained in any letter of credit application or other agreement (other than this Agreement or any Security Document) submitted
by the Borrower to, or entered into by the Borrower with, any Issuing Bank relating to any Letter of Credit, (i) all provisions
of such letter of credit application or

 

    43

     

    

 

other agreement purporting to grant Liens in
favor of such Issuing Bank to secure obligations in respect of such Letter of Credit shall be disregarded, it being agreed that
such obligations shall be secured to the extent provided in this Agreement and in the Security Documents, and (ii) in the event
of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of such letter of credit
application or such other agreement, as applicable, the terms and conditions of this Agreement shall control. 

 

(b)  Notice
of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit or the amendment,
renewal or extension of an outstanding Letter of Credit (other than any automatic renewal permitted pursuant to paragraph (c)
of this Section), the Borrower shall hand deliver or fax (or transmit by electronic communication, if arrangements for doing so
have been approved by such Issuing Bank) to the applicable Issuing Bank and the Administrative Agent (reasonably in advance of
the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying
the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or
extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c)
of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information
as shall be requested by the applicable Issuing Bank as necessary to enable such Issuing Bank to prepare, amend, renew or extend
such Letter of Credit. If requested by the applicable Issuing Bank, the Borrower also shall submit in connection with any request
for a Letter of Credit a letter of credit application on such Issuing Bank’s standard form. A Letter of Credit shall be
issued, amended, renewed or extended only (A) if (and upon issuance, amendment, renewal or extension of any Letter of Credit the
Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension,
(i) the sum of the aggregate LC Exposure and the outstanding principal amount of the Issuing Bank’s Revolving Loans
shall be no greater than the Revolving Commitment of the Issuing Bank, (ii) no Lender’s Revolving Exposure shall exceed
its Revolving Commitment, (iii) the Aggregate Revolving Exposure shall not exceed the Aggregate Revolving Commitment and
(iv) the aggregate LC Exposure shall not exceed $35,000,000 and (B) if the issuance, amendment, renewal or extension would not
violate any generally applicable policy of the Issuing Bank in place at the time of the request for such issuance, amendment,
renewal or extension of a Letter of Credit; provided that if the Issuing Bank is unable to issue, amend, renew or extend
any Letter of Credit as a result of this clause (B), then the Borrower may, with the Administrative Agent’s consent (such
consent not to be unreasonably withheld or delayed), designate any Lender to serve as an issuing bank for purposes of this Agreement
solely in respect of such Letter of Credit, provided that such Lender agrees to act in such capacity. For the avoidance of doubt,
any Lender designated as an issuing bank as contemplated by the immediately preceding sentence shall deliver to the Administrative
Agent the reports and other documents specified in paragraph (k) of this Section. 

 

(c)  Expiration
Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date that is one
year after the date of the issuance

 

    44

     

    

 

of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after
such renewal or extension) and (ii) the date that is five Business Days prior to the Revolving Maturity Date; provided,
however, that (x) subject to clause (y) below, any Letter of Credit may, upon the request of the Borrower, include a provision
whereby such Letter of Credit shall be renewed automatically for additional consecutive periods of one year or less (but not beyond
the date that is five Business Days prior to the Revolving Maturity Date) unless the applicable Issuing Bank notifies the beneficiary
thereof at least 30 days prior to the then-applicable expiration date that such Letter of Credit will not be renewed and (y) any
Letter of Credit may, upon request of the Borrower and with the prior written consent of the Issuing Bank in its sole discretion,
expire following the date otherwise permitted by clause (i) and (ii) above and prior to the fourth anniversary of the issuance
thereof; provided that, in the case of any such Letter of Credit that is scheduled to or could expire on a date following
the date that is five Business Days prior to the Revolving Maturity Date, no later than such date that is six months prior to the
Revolving Maturity Date, the Borrower must deposit into an account established and maintained by the Issuing Bank, an amount in
cash equal to 103% of the face amount of such Letter of Credit as cash collateral to secure the Borrower’s obligations in
respect of such Letter of Credit (any such Letter of Credit contemplated by this proviso to this clause (y), an “Extended
Maturity LC”).

 

(d)  Participations.
By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further
action on the part of the applicable Issuing Bank or the Lenders, the Issuing Bank that is the issuer of such Letter of Credit
hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from such Issuing Bank, a participation in such
Letter of Credit equal to such Revolving Lender’s Applicable Percentage of the aggregate amount available to be drawn under
such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally
agrees to pay to the Administrative Agent, for the account of the applicable Issuing Bank, such Revolving Lender’s Applicable
Percentage of each LC Disbursement made by such Issuing Bank and not reimbursed by the Borrower on the date due as provided in
paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason. Each
Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of
Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment,
renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or any reduction or termination of
the Revolving Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.
Each Revolving Lender further acknowledges and agrees that, in issuing, amending, renewing or extending any Letter of Credit, the
applicable Issuing Bank shall be entitled to rely, and shall not incur any liability for relying, upon the representation and warranty
of the Borrower deemed made pursuant to Section 4.02 unless, at least one Business Day prior to the time such Letter of Credit
is issued, amended, renewed or extended (or, in the case of an automatic renewal permitted pursuant to paragraph (c) of this Section,
at least one Business Day prior to the time by which the election not to extend must be made by the applicable Issuing Bank), the
Required Lenders shall have notified the applicable Issuing Bank (with a copy to the

 

    45

     

    

 

Administrative Agent) in writing that, as a
result of one or more events or circumstances described in such notice, one or more of the conditions precedent set forth in Section 4.02(a)
or 4.02(b) would not be satisfied if such Letter of Credit were then issued, amended, renewed or extended (it being understood
and agreed that, in the event any Issuing Bank shall have received any such notice, no Issuing Bank shall have any obligation
to issue, amend, renew or extend any Letter of Credit until and unless it shall be satisfied that the events and circumstances
described in such notice shall have been cured or otherwise shall have ceased to exist). 

 

(e)  Reimbursement.
If an Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Borrower shall reimburse such LC Disbursement
by paying to the Administrative Agent an amount equal to such LC Disbursement not later than 3:00 p.m., New York City time, on
the Business Day immediately following the day that the Borrower receives notice of such LC Disbursement; provided that,
the Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with Section 2.03 or Section
2.21, as applicable, that such payment be financed with an ABR Revolving Borrowing or a Swingline Loan in an equivalent amount
and, to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting
ABR Revolving Borrowing or Swingline Loan. If the Borrower fails to reimburse any LC Disbursement by the time specified above
in this paragraph, then the Administrative Agent shall notify each Revolving Lender of the applicable LC Disbursement, the payment
then due from the Borrower in respect thereof and such Revolving Lender’s Applicable Percentage thereof. Promptly following
receipt of such notice, each Revolving Lender shall pay to the Administrative Agent its Applicable Percentage of the amount then
due from the Borrower, in the same manner as provided in Section 2.05 with respect to Loans made by such Lender (and Section 2.05
shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders under this paragraph), and the Administrative
Agent shall promptly remit to the applicable Issuing Bank the amounts so received by it from the Revolving Lenders. Promptly following
receipt by the Administrative Agent of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall
distribute such payment to the applicable Issuing Bank or, to the extent that Revolving Lenders have made payments pursuant to
this paragraph to reimburse such Issuing Bank, then to such Revolving Lenders and such Issuing Bank as their interests may appear.
Any payment made by a Revolving Lender pursuant to this paragraph to reimburse an Issuing Bank for any LC Disbursement (other
than the funding of an ABR Revolving Borrowing or a Swingline Loan as contemplated above) shall not constitute a Loan and shall
not relieve the Borrower of its obligation to reimburse such LC Disbursement. 

 

(f)  Obligations
Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in paragraph (e) of this Section shall
be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under
any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit
or this Agreement, or any term or provision thereof or hereof, (ii) any draft or other document presented under a Letter of
Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect,
(iii) payment by an Issuing

 

    46

     

    

 

Bank under a Letter of Credit against presentation of a draft or other document that does not
comply with the terms of such Letter of Credit or (iv) any other event or circumstance whatsoever, whether or not similar
to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide
a right of setoff against, the Borrower’s obligations hereunder. None of the Administrative Agent, the Lenders, the Issuing
Banks or any of their Related Parties shall have any liability or responsibility by reason of or in connection with the issuance
or transfer of any Letter of Credit, any payment or failure to make any payment thereunder (irrespective of any of the circumstances
referred to in the preceding sentence), any error, omission, interruption, loss or delay in transmission or delivery of any draft,
notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder),
any error in interpretation of technical terms or any consequence arising from causes beyond the control of the applicable Issuing
Bank; provided that the foregoing shall not be construed to excuse any Issuing Bank from liability to the Borrower to the
extent of any direct damages (as opposed to special, indirect, consequential or punitive damages, claims in respect of which are
hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by such Issuing
Bank’s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply
with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the
part of an Issuing Bank (as finally determined by a court of competent jurisdiction in a final and nonappealable judgment), such
Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting
the generality thereof, the parties agree that, with respect to documents presented that appear on their face to be in substantial
compliance with the terms of a Letter of Credit, an Issuing Bank may, in its sole discretion, either accept and make payment upon
such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse
to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of
Credit, and any such acceptance or refusal shall be deemed not to constitute gross negligence or willful misconduct.

 

(g)  Disbursement
Procedures. Each Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent
a demand for payment under a Letter of Credit. Each Issuing Bank shall promptly notify the Administrative Agent and the Borrower
by telephone (confirmed by facsimile) of such demand for payment and whether such Issuing Bank has made or will make an LC Disbursement
thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation
to reimburse such Issuing Bank and the Revolving Lenders with respect to any such LC Disbursement in accordance with paragraph (e)
of this Section. 

 

(h)  Interim
Interest. If an Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement
in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including
the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement in full, at the
rate per annum then

 

    47

     

    

 

applicable to ABR Revolving Loans; provided that, if the Borrower fails to reimburse such LC Disbursement
in full when due pursuant to paragraph (e) of this Section, then Section 2.12(c) shall apply. Interest accrued pursuant
to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest
accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such
Issuing Bank shall be for the account of such Lender to the extent of such payment, and shall be payable on demand or, if no demand
has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.

 

(i)  Cash
Collateralization. If any Event of Default shall occur and be continuing, on the Business Day on which the Borrower receives
notice from the Administrative Agent or the Required Lenders demanding the deposit of cash collateral pursuant to this paragraph,
the Borrower shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit
of the Lenders, an amount in cash equal to 103% of the LC Exposure (other than LC Exposure in respect of Extended Maturity LCs)
as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral
shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice
of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in clause (h) or (i) of Article
VII. The Borrower also shall deposit cash collateral in accordance with this paragraph as and to the extent required by Section 2.10(b),
2.10(c) or 2.19(c). Each such deposit shall be held by the Administrative Agent as collateral for the payment and performance
of the obligations of the Borrower under this Agreement. The Administrative Agent shall have exclusive dominion and control, including
the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such deposits, which
investments shall be made at the option and sole discretion of the Administrative Agent and at the Borrower’s risk and expense,
such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Notwithstanding
the terms of any Security Document, moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing
Banks for LC Disbursements for which they have not been reimbursed and, to the extent not so applied, shall be held for the satisfaction
of the reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated
(but subject to (i) the consent of the Required Lenders and (ii) in the case of any such application at a time when any Revolving
Lender is a Defaulting Lender (but only if, after giving effect thereto, the remaining cash collateral shall be less than the
aggregate LC Exposure of all the Defaulting Lenders), the consent of each Issuing Bank), be applied to satisfy other obligations
of the Borrower under this Agreement. If the Borrower is required to provide an amount of cash collateral hereunder as a result
of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower
within three Business Days after all Events of Default have been cured or waived. If the Borrower is required to provide an amount
of cash collateral hereunder pursuant to Section 2.10(b), such amount (to the extent not applied as aforesaid) shall be returned
to the Borrower to the extent that, after giving effect to such return, the Aggregate Revolving Exposure would not exceed the
Aggregate Revolving Commitment and no Event of Default shall have

 

    48

     

    

 

occurred and be continuing. If the Borrower is required to provide
an amount of cash collateral hereunder pursuant to Section 2.19(c), such amount (to the extent not applied as aforesaid) shall
be returned to the Borrower to the extent that, after giving effect to such return, no Issuing Bank shall have any exposure in
respect of any outstanding Letter of Credit (other than Extended Maturity LCs) that is not fully covered by the Revolving Commitments
of the non-Defaulting Lenders and/or the remaining cash collateral and no Event of Default shall have occurred and be continuing. 

 

(j)  Replacement
of the Issuing Bank. The Issuing Bank may, at any time and from time to time, be replaced by written agreement among and with
the prior written consent of the Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank.
The Administrative Agent shall notify the Lenders of any such replacement of the Issuing Bank. At the time any such replacement
shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to
Section 2.11(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all
the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter, and
(ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing
Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank
hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an
Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required
to issue any additional Letters of Credit.

 

(k)  Issuing
Bank Reports to the Administrative Agent. Unless otherwise agreed by the Administrative Agent, each Issuing Bank that is not
an Affiliate of the Administrative Agent shall deliver to the Administrative Agent a copy of each Letter of Credit issued by it
and, in addition to its notification obligations set forth elsewhere in this Section, report in writing to the Administrative
Agent (i) periodic activity (for such period or recurrent periods as shall be requested by the Administrative Agent) in respect
of Letters of Credit issued by such Issuing Bank, including all issuances, extensions, amendments and renewals, all expirations
and cancelations and all disbursements and reimbursements, (ii) reasonably prior to the time that such Issuing Bank issues,
amends, renews or extends any Letter of Credit, the date of such issuance, amendment, renewal or extension, and the stated amount
of the Letters of Credit issued, amended, renewed or extended by it and outstanding after giving effect to such issuance, amendment,
renewal or extension (and whether the amounts thereof shall have changed), (iii) on each Business Day on which such Issuing Bank
makes any LC Disbursement, the date and amount of such LC Disbursement, (iv) on any Business Day on which the Borrower fails
to reimburse an LC Disbursement required to be reimbursed to such Issuing Bank on such day, the date of such failure and the amount
of such LC Disbursement and (v) on any other Business Day, such other information as the Administrative Agent shall reasonably
request as to the Letters of Credit issued by such Issuing Bank. 

 

(l)  LC
Exposure Determination. For all purposes of this Agreement, the amount of a Letter of Credit that, by its terms or the terms
of any document related

 

    49

     

    

 

thereto, provides for one or more automatic increases in the stated amount thereof shall be deemed to be
the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated
amount is in effect at the time of determination.

 

SECTION 2.05.  Funding of Borrowings.
(a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available
funds by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose
by notice to the Lenders; provided that Swingline Loans shall be made as provided in Section 2.21. The Administrative Agent
will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the
Borrower maintained with the Administrative Agent and designated by the Borrower in the applicable Borrowing Request; provided
that ABR Revolving Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.04(e) shall be remitted
by the Administrative Agent to the applicable Issuing Bank or, to the extent that Revolving Lenders have made payments pursuant
to Section 2.04(e) to reimburse such Issuing Bank, then to such Revolving Lenders and such Issuing Bank as their interests
may appear.

 

(b)  Unless
the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender
will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may
assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section and may,
in reliance upon such assumption and in its sole discretion, make available to the Borrower a corresponding amount. In such event,
if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable
Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with
interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the
date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective
Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or
(ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If the Borrower and such Lender shall pay such
interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly, and in any
event within three Business Days, remit to the Borrower the amount of such interest paid by the Borrower for such period. If such
Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such
Borrowing. Any payment by the Borrower shall be made without prejudice to any claim the Borrower may have against a Lender that
shall have failed to make such payment to the Administrative Agent. 

 

SECTION 2.06.  Interest Elections.
(a) Each Borrowing (other than with respect to Swingline Loans) initially shall be of the Type specified in the applicable Borrowing
Request or designated by Section 2.03 and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as
specified in such Borrowing Request or

 

    50

     

    

 

designated by Section 2.03. Thereafter, the Borrower may elect to convert such Borrowing
to a Borrowing of a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest
Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions
of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising
such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply
to Swingline Borrowings, which may not be converted or continued.

 

(b)  To
make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election by telephone by
the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Revolving Borrowing
of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election
Request shall be irrevocable and shall be confirmed promptly by hand delivery or facsimile to the Administrative Agent of a written
Interest Election Request signed by the Borrower.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(e)  If
the Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Borrowing prior to the end of the
Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period
such Borrowing shall be converted to an ABR Borrowing.

 

    51

     

    

 

Notwithstanding any contrary provision hereof, if an Event of Default has
occurred and is continuing, then, so long as such Event of Default is continuing, (i) no outstanding Borrowing may be converted
to or continued as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar Borrowing shall be converted to an ABR
Borrowing at the end of the Interest Period applicable thereto. 

 

SECTION 2.07.  Termination and
Reduction of Commitments. (a) Unless previously terminated, the Revolving Commitments shall automatically terminate on the
Revolving Maturity Date.

 

(b)  The
Borrower may at any time terminate, or from time to time permanently reduce, the Revolving Commitments; provided that (i) each
partial reduction of the Revolving Commitments shall be in an amount that is an integral multiple of $500,000 and not less than
$1,000,000 unless such amount represents all of the remaining Revolving Commitments and (ii) the Borrower shall not terminate
or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Revolving Loans or Swingline Loans
in accordance with Section 2.10, the Aggregate Revolving Exposure would exceed the Aggregate Revolving Commitment.

 

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

 

SECTION 2.08.  Repayment of
Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises to pay (i) to the Administrative Agent for the
account of each Lender the then unpaid principal amount of each Revolving Loan of such Lender on the Revolving Maturity Date and
(ii) to each Swingline Lender the then unpaid principal amount of each Swingline Loan made by such Swingline Lender on the earlier
of the Revolving Maturity Date and the fifth Business Day after such Swingline Loan is made; provided that on each date
that a Revolving Borrowing is made, the Borrower shall repay all Swingline Loans that were outstanding on the date such Revolving
Borrowing was requested and the proceeds of any such Revolving Borrowing shall be applied by the Administrative Agent to repay
any Swingline Loans then outstanding.

 

(b)  The
records maintained by the Administrative Agent and the Lenders shall, absent manifest error, be prima facie evidence of
the existence and amounts of the obligations of the Borrower in respect of Loans, LC Disbursements, interest and fees due

 

    52

     

    

 

or accrued
hereunder; provided that the failure of the Administrative Agent or any Lender to maintain such records or any error therein
shall not in any manner affect the obligation of the Borrower to pay any amounts due hereunder in accordance with the terms of
this Agreement. 

 

(c)  Any
Lender may request that the Loans made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute
and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered
assigns) and in a form reasonably acceptable to the Administrative Agent. Thereafter, the Loans evidenced by such promissory note
and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more
promissory notes in such form payable to the payee named therein (or, if applicable, to such payee and its registered assigns).

 

SECTION 2.09.  [reserved]

 

SECTION 2.10.  Prepayment of
Loans. (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing, in whole or in part,
subject to the requirements of this Section.

 

(b)  In
the event and on each occasion that the Aggregate Revolving Exposure exceeds the Aggregate Revolving Commitment, the Borrower shall
prepay Revolving Borrowings or Swingline Borrowings (or, if no such Borrowings are outstanding, deposit cash collateral in an account
with the Administrative Agent in accordance with Section 2.04(i)) in an aggregate amount equal to such excess.

 

(c)  In
the event and on each occasion that any Net Proceeds are received by or on behalf of the Borrower or any Subsidiary in respect
of any Prepayment Event (including by the Administrative Agent as loss payee in respect of any Prepayment Event described in clause
(b) of the definition of the term “Prepayment Event”), the Borrower shall, on the day such Net Proceeds are received
(or, in the case of a Prepayment Event described in clause (a) or (b) of the definition of the term “Prepayment Event”,
within three Business Days after such Net Proceeds are received), prepay outstanding Revolving Borrowings (without a corresponding
reduction in the Aggregate Revolving Commitment) and, to the extent Net Proceeds remain after such prepayment, deposit cash collateral
in an account with the Administrative Agent in accordance with Section 2.04(i) with respect to outstanding Letters of Credit,
in a principal amount equal to the lesser of (x) the aggregate amount of outstanding Loans and Letters of Credit not previously
cash collateralized in accordance with Section 2.04(i) and (y) the aggregate amount of Net Proceeds received in respect of such
Prepayment Event (such lesser amount, with respect to any Prepayment Event, the “Applicable Net Proceeds”);
provided that, in the case of a Prepayment Event described in clause (a) or (b) of the definition of the term “Prepayment
Event”, the prepayment of Revolving Borrowings and deposit of cash collateral described above shall be required only to the
extent necessary (if at all) in order that the Borrower and its Subsidiaries shall not be required under the terms of any instrument
governing unsecured Indebtedness of the Borrower or any of its Subsidiaries to prepay or redeem, or

 

    53

     

    

 

offer to prepay or redeem, such unsecured Indebtedness
with the Applicable Net Proceeds from such Prepayment Event. 

 

(d)  [reserved]

 

(e)  Prior
to any optional or mandatory prepayment of Borrowings under this Section, the Borrower shall, subject to the next sentence, select
the Borrowing or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment delivered pursuant
to paragraph (f) of this Section.

 

(f)  The
Borrower shall notify the Administrative Agent (and in the case of prepayment of Swingline Loans, the Swingline Lenders) by telephone
(confirmed by hand delivery or facsimile) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing,
not later than 12:00 p.m., New York City time, three Business Days before the date of prepayment, (ii) in the case of
prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of prepayment or (iii) in the case
of prepayment of a Swingline Loan, not later than 12:00 noon, New York City time, on the date of prepayment. Each such notice shall
be irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and,
in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment; provided that
if a notice of optional prepayment is given in connection with a conditional notice of termination of the Revolving Commitments
as contemplated by Section 2.07, then such notice of prepayment may be revoked if such notice of termination is revoked in
accordance with Section 2.07. Promptly following receipt of any such notice (other than a notice relating solely to Swingline Loans),
the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in
an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02, except
as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably
to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by
Section 2.12.

 

SECTION 2.11.  Fees. (a)
The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue
at the Applicable Rate on the average daily unused amount of the Revolving Commitment of such Revolving Lender during the period
from and including the date hereof to but excluding the date on which the Revolving Commitments terminate. Accrued commitment fees
shall be payable in arrears on the last Business Day of March, June, September and December of each year and on the date on which
the Revolving Commitments terminate, commencing on the first such date to occur after the First A&R Effective Date. All commitment
fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day). For purposes of computing commitment fees, a Revolving Commitment of a Lender shall
be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (but the Swingline Exposure
of such Lender shall be disregarded for such purpose).

 

    54

     

    

 

(b)  The
Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender a participation fee with respect
to its participations in Letters of Credit, which shall accrue at the same Applicable Rate then used to determine the interest
rate applicable to Eurodollar Revolving Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion
thereof attributable to unreimbursed LC Disbursements) during the period from and including the First A&R Effective Date to
but excluding the later of the date on which such Lender’s Revolving Commitment terminates and the date on which such Lender
ceases to have any LC Exposure and (ii) to each Issuing Bank, for its own account, a fronting fee equal to 0.125% on the average
daily amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank (excluding any portion thereof attributable
to unreimbursed LC Disbursements) during the period from and including the First A&R Effective Date to but excluding the later
of the date of termination of the Revolving Commitments and the date on which there ceases to be any such LC Exposure, as well
as such Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit
or processing of drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March,
June, September and December of each year shall be payable on the first Business Day following such last day, commencing on the
first such date to occur after the First A&R Effective Date; provided that all such fees shall be payable on the date
on which the Revolving Commitments terminate and any such fees accruing after the date on which the Revolving Commitments terminate
shall be payable on demand. Any other fees payable to an Issuing Bank pursuant to this paragraph shall be payable within two Business
Days after demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable
for the actual number of days elapsed (including the first day but excluding the last day).

 

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

 

(d)  All
fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent (or to the applicable
Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the
Revolving Lenders entitled thereto. Fees paid hereunder shall not be refundable under any circumstances.

 

SECTION 2.12.  Interest.
(a) The Loans comprising each ABR Borrowing (including each Swingline Loan) shall bear interest at the Alternate Base Rate
plus the Applicable Rate.

 

(b)  The
Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for
such Borrowing plus the Applicable Rate. 

 

(c)  Notwithstanding
the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is not
paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount

 

    55

     

    

 

shall bear interest, after as well
as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2.00% per annum plus the
rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any
other amount, 2.00% per annum plus the rate applicable to ABR Revolving Loans as provided in paragraph (a) of this Section.
Payment or acceptance of the increased rates of interest provided for in this paragraph (c) is not a permitted alternative to timely
payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of the
Administrative Agent, any Issuing Bank or any Lender.

 

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

 

(e)  All
interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate
Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days
(or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day
but excluding the last day; provided that, if a Loan, or a portion thereof, is repaid on the same day on which such Loan
is made, one day’s interest shall accrue on the portion of such Loan so prepaid). The applicable Alternate Base Rate or Adjusted
LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.

 

SECTION 2.13.  Alternate Rate
of Interest. If prior to the commencement of any Interest Period for any Eurodollar Borrowing:

 

(i) the Administrative Agent determines
(which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining
the Adjusted LIBO Rate for such Interest Period; or

 

(ii) the Administrative Agent
is advised by the Required Lenders that the Adjusted LIBO Rate for such Interest Period will not adequately and fairly reflect
the cost to such Lenders of making or maintaining their Loans included in such Eurodollar Borrowing for such Interest Period;

 

then the Administrative Agent shall give notice thereof to
the Borrower and the Lenders by telephone or facsimile as promptly as practicable thereafter and, until the Administrative Agent
notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist (which notification shall
be made promptly after

 

    56

     

    

 

the Administrative Agent obtains knowledge of the cessation of such circumstances), (i) any Interest
Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing
shall be ineffective, and such Borrowing shall be continued as an ABR Borrowing and (ii) any Borrowing Request for a Eurodollar
Borrowing shall be treated as a request for an ABR Borrowing. 

 

SECTION 2.14.  Increased Costs.
(a) If any Change in Law shall:

 

(i) impose, modify or deem applicable
any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for
the account of, or credit extended or participated in by, any Lender (except any such reserve requirement reflected in the Adjusted
LIBO Rate) or any Issuing Bank;

 

(ii) impose on any Lender or any
Issuing Bank or the London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement or
Loans made by such Lender or any Letter of Credit or participation therein; or

 

(iii) subject any Recipient to
any Taxes (other than (A) Indemnified Taxes and (B) Excluded Taxes) on its loans, loan principal, letters of credit, commitments
or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto;

 

and the result of any of the foregoing shall be to increase
the cost to such Lender or such other Recipient of making, converting, continuing or maintaining any Loan (or of maintaining its
obligation to make any such Loan) or to increase the cost to such Lender, such Issuing Bank or such other Recipient of participating
in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit)
or to reduce the amount of any sum received or receivable by such Lender, such Issuing Bank or such other Recipient hereunder (whether
of principal, interest or otherwise), then, from time to time upon request of such Lender, such Issuing Bank or such other Recipient,
the Borrower will pay to such Lender, such Issuing Bank or such other Recipient, as applicable, such additional amount or amounts
as will compensate such Lender, such Issuing Bank or such other Recipient, as applicable, for such additional costs or expenses
incurred or reduction suffered.

 

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

 

    57

     

    

 

capital adequacy or liquidity), then, from
time to time upon the request of such Lender or such Issuing Bank, the Borrower will pay to such Lender or such Issuing Bank,
as applicable, such additional amount or amounts as will compensate such Lender or such Issuing Bank or such Lender’s or
such Issuing Bank’s holding company for any such reduction suffered. 

 

(c)  A
certificate of a Lender or an Issuing Bank setting forth the amount or amounts necessary to compensate such Lender or such Issuing
Bank or its holding company, as applicable, as specified in paragraph (a) or (b) of this Section, including in reasonable
detail a description of the basis for such claim for compensation and a calculation of such amount or amounts, shall be delivered
to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender or such Issuing Bank, as applicable,
the amount shown as due on any such certificate within 10 Business Days after receipt thereof.

 

(d)  Failure
or delay on the part of any Lender or any Issuing Bank to demand compensation pursuant to this Section shall not constitute a waiver
of such Lender’s or such Issuing Bank’s right to demand such compensation; provided that the Borrower shall
not be required to compensate a Lender or an Issuing Bank pursuant to this Section for any increased costs or expenses incurred
or reductions suffered more than 180 days prior to the date that such Lender or such Issuing Bank, as applicable, notifies the
Borrower of the Change in Law giving rise to such increased costs or expenses or reductions and of such Lender’s or such
Issuing Bank’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to
such increased costs or expenses or reductions is retroactive, then the 180-day period referred to above shall be extended to include
the period of retroactive effect thereof.

 

SECTION 2.15.  Break Funding
Payments. In the event of (a) the payment of any principal of any Eurodollar Loan other than on the last day of an Interest
Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other
than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any
Revolving Loan on the date specified in any notice delivered pursuant hereto (whether or not such notice may be revoked in accordance
with the terms hereof) or (d) the assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable
thereto as a result of a request by the Borrower pursuant to Section 2.18(b) or 9.02(c), then, in any such event, the Borrower
shall compensate each Lender for the loss, cost and expense (excluding any loss of margin) attributable to such event. In the case
of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to
be the excess, if any, of (i) the amount of interest that would have accrued on the principal amount of such Loan had such
event not occurred, at the Adjusted LIBO Rate that would have been applicable to such Loan (but not including the Applicable Rate
applicable thereto), for the period from the date of such event to the last day of the then current Interest Period therefor (or,
in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan),
over (ii) the amount of interest that would accrue on such principal amount for such period at the interest rate that such
Lender would bid were it to bid, at the commencement of such

 

    58

     

    

 

period, for dollar deposits of a comparable
amount and period from other banks in the London interbank market. A certificate of any Lender setting forth any amount or amounts
that such Lender is entitled to receive pursuant to this Section, including in reasonable detail a description of the basis for
such compensation and a calculation of such amount or amounts, shall be delivered to the Borrower and shall be conclusive absent
manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 15 days after receipt
thereof. 

 

SECTION 2.16.  Taxes. (a)
Payment Free of Taxes. Any and all payments by or on account of any obligation of any Loan Party under this Agreement or
any other Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If
any applicable law (as determined in the good faith discretion of an applicable withholding agent) requires the deduction or withholding
of any Tax from any such payment by a withholding agent, then the applicable withholding agent shall be entitled to make such deduction
or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with
applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as
necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional
sums payable under this Section) the applicable Recipient receives an amount equal to the sum it would have received had no such
deduction or withholding been made.

 

(b)  Payment
of Other Taxes by the Loan Parties. The Loan Parties shall timely pay to the relevant Governmental Authority in accordance
with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

 

(c)  Evidence
of Payment. As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to this
Section, such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such
Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably
satisfactory to the Administrative Agent.

 

(d)  Indemnification
by the Loan Parties. The Loan Parties shall jointly and severally indemnify each Recipient, within 10 days after demand therefor,
for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable
under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and
any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered
to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf
of a Lender, shall be conclusive absent manifest error.

 

    59

     

    

 

(e)  Indemnification
by the Lenders. Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand thereof, for (i)
any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative
Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable
to such Lender’s failure to comply with the provisions of Section 9.04(c) relating to the maintenance of a Participant Register
and (iii) any Excluded Taxes attributable to such Lender, in each case that are payable or paid by the Administrative Agent in
connection with this Agreement or any other Loan Document and any reasonable expenses arising therefrom or with respect thereto,
whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as
to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest
error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such
Lender under this Agreement or any other Loan Document or otherwise payable by the Administrative Agent to such Lender from any
other source against any amount due to the Administrative Agent under this paragraph.

 

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

 

(ii) Without limiting the generality
of the foregoing, in the event that the Borrower is a U.S. Person:

 

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

 

    60

     

    

 

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

 

(1) in the case of a Foreign Lender
claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest
under this Agreement or any other Loan Document, executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable,
establishing an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to the “interest” article
of such tax treaty and (y) with respect to any other applicable payments under this Agreement or any other Loan Document,
IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. Federal withholding
Tax pursuant to the “business profits” or “other income” article of such tax treaty;

 

(2) executed originals of IRS Form
W-8ECI;

 

(3) in the case of a Foreign Lender
claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially
in the form of Exhibit G-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A)
of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section 871(h)(3)(B) of the Code
or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax
Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable; or

 

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

 

(C) any Foreign Lender shall, to
the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as
shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this

 

    61

     

    

 

Agreement
(and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals
of any other form prescribed by applicable law as a basis for claiming exemption from, or a reduction in, U.S. Federal withholding
Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower
or the Administrative Agent to determine withholding or deduction required to be made; and 

 

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

 

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

 

(g)  Treatment
of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a refund
of any Taxes as to which it has been indemnified pursuant to this Section (including by the payment of additional amounts paid
pursuant to this Section), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity
payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses
(including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified
party the amount paid over pursuant to this paragraph (plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding
anything to the contrary in this paragraph, in no event will any indemnified party be required to pay any amount to any indemnifying
party pursuant to this paragraph the payment of which would place such indemnified party in a less favorable net after-Tax position
than such indemnified party would have been in if the

 

    62

     

    

 

Tax subject to indemnification and giving rise
to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with
respect to such Tax had never been paid. This paragraph shall not be construed to require any indemnified party to make available
its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other
Person. 

 

(h)  Survival.
Each party’s obligations under this Section shall survive the resignation or replacement of the Administrative Agent or any
assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or
discharge of all obligations under this Agreement and the other Loan Documents.

 

(i)  Defined
Terms. For purposes of this Section, the term “Lender” includes any Issuing Bank and the term “applicable
law” includes FATCA.

 

SECTION 2.17.  Payments Generally;
Pro Rata Treatment; Sharing of Setoffs. (a) The Borrower shall make each payment required to be made by it hereunder or under
any other Loan Document (whether of principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under
Section 2.14, 2.15 or 2.16, or otherwise) on or prior to the time expressly required hereunder or under such other Loan Document
for such payment (or, if no such time is expressly required, prior to 1:00 p.m., New York City time), on the date when due, in
immediately available funds, without any defense, setoff, recoupment or counterclaim. Any amounts received after such time on
any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day
for purposes of calculating interest thereon. All such payments shall be made to such account or accounts as may be specified
by the Administrative Agent, except that payments required to be made directly to any Issuing Bank or any Swingline Lender shall
be so made, payments pursuant to Sections 2.14, 2.15, 2.16 and 9.03 shall be made directly to the Persons entitled thereto and
payments pursuant to other Loan Documents shall be made to the Persons specified therein. Without
limiting the foregoing or any other provision of this Agreement, the Borrower hereby authorizes the Administrative Agent to debit
from an account maintained by the Borrower with the Administrative Agent, which account shall be designated by the Borrower from
time to time with the Administrative Agent’s consent, such amounts as may be necessary to pay, from time to time as and
when due, all principal, interest and fees payable by the Borrower under this Agreement. The Administrative Agent shall
distribute any such payment received by it for the account of any other Person to the appropriate recipient promptly following
receipt thereof. If any payment under this Agreement or any other Loan Document shall be due on a day that is not a Business Day,
the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest,
interest thereon shall be payable for the period of such extension. All payments under this Agreement and each other Loan Document
shall be made in dollars. 

 

(b)  If
at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal,
unreimbursed LC

 

    63

     

    

 

Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment
of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest
and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due
hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements
then due to such parties.

 

(c)  If
any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of
or interest on any of its Revolving Loans or participations in LC Disbursements or Swingline Loans resulting in such Lender receiving
payment of a greater proportion of the aggregate amount of its Revolving Loans and participations in LC Disbursements and Swingline
Loans and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion
shall notify the Administrative Agent of such fact and shall purchase (for cash at face value) participations in the Revolving
Loans and participations in LC Disbursements and Swingline Loans of other Lenders to the extent necessary so that the aggregate
amount of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and
accrued interest on their respective Revolving Loans and participations in LC Disbursements and Swingline Loans; provided
that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered,
such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the
provisions of this paragraph shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance
with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of
a participation in any of its Loans or participations in LC Disbursements to any Eligible Assignee. The Borrower consents to the
foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant
to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such participation
as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation.

 

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

 

    64

     

    

 

(e)  If
any Lender shall fail to make any payment required to be made by it pursuant to Section 2.04(d) or (e), 2.05(a) or (b), 2.16(e),
2.17(d) or 9.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (i) apply
any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations
in respect of such payment until all such unsatisfied obligations have been discharged and/or (ii) hold any such amounts in a segregated
account as cash collateral for, and application to, any future funding obligations of such Lender under any such Section, in the
case of each of clauses (i) and (ii) above, in any order as determined by the Administrative Agent in its discretion.

 

(f)  In
the event that any financial statements delivered under Section 5.01(a) or 5.01(b), or any compliance certificate delivered under
Section 5.01(c), shall prove to have been inaccurate, and such inaccuracy shall have resulted in the payment of any interest or
fees at rates lower than those that were in fact applicable for any period (based on the actual Secured Leverage Ratio), then,
if such inaccuracy is discovered prior to the termination of the Commitments and the repayment in full of the principal of all
Loans and the reduction of the LC Exposure to zero, the Borrower shall pay to the Administrative Agent, for distribution to the
Lenders and the Issuing Banks (or former Lenders and Issuing Banks) as their interests may appear, the accrued interest or fees
that should have been paid but were not paid as a result of such misstatement.

 

SECTION 2.18.  Mitigation Obligations;
Replacement of Lenders. (a) If any Lender requests compensation under Section 2.14, or if any Loan Party is required
to pay any Indemnified Taxes or additional amounts to any Lender or to any Governmental Authority for the account of any Lender
pursuant to Section 2.16, then such Lender shall (at the request of the Borrower) use commercially reasonable efforts to
designate a different lending office for funding or booking its Loans hereunder or to assign and delegate its rights and obligations
hereunder to another of its offices, branches or Affiliates, if, in the judgment of such Lender, such designation or assignment
and delegation (i) would eliminate or reduce amounts payable pursuant to Section 2.14 or 2.16, as applicable, in the
future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not be inconsistent with its
internal policies or otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses
incurred by any Lender in connection with any such designation or assignment and delegation. 

 

(b)  If
(i) any Lender has requested compensation under Section 2.14, (ii) the Borrower is required to pay any Indemnified Taxes
or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.16 or
(iii) any Lender has become a Defaulting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender
and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the
restrictions contained in Section 9.04), all its interests, rights (other than its existing rights to payments pursuant to
Section 2.14 or 2.16) and obligations under this Agreement and the other Loan Documents to an Eligible Assignee that shall assume
such obligations (which assignee may be another Lender, if a Lender accepts such assignment

 

    65

     

    

 

and delegation); provided that
(A) the Borrower shall have received the prior written consent of the Administrative Agent, each Issuing Bank and each Swingline
Lender, which consent shall not unreasonably be withheld, (B) such Lender shall have received payment of an amount equal to
the outstanding principal of its Loans and participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued
fees and all other amounts payable to it hereunder from the assignee (in the case of such principal and accrued interest and fees)
or the Borrower (in the case of all other amounts), (C) the Borrower or such assignee shall have paid to the Administrative
Agent the processing and recordation fee specified in Section 9.04(b), (D) in the case of any such assignment and delegation
resulting from a claim for compensation under Section 2.14 or payments required to be made pursuant to Section 2.16,
such assignment will result in a material reduction in such compensation or payments and (E) such assignment does not conflict
with applicable law. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of
a waiver or consent by such Lender or otherwise (including as a result of any action taken by such Lender under paragraph (a)
above), the circumstances entitling the Borrower to require such assignment and delegation have ceased to apply.

 

SECTION 2.19.  Defaulting Lenders.
Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following
provisions shall apply for so long as such Lender is a Defaulting Lender:

 

(a)  commitment
fees shall cease to accrue on the unfunded portion of the Commitment of such Defaulting Lender pursuant to Section 2.11(a);

 

(b)  the
Revolving Commitment and Revolving Exposure of such Defaulting Lender shall not be included in determining whether the Required
Lenders or any other requisite Lenders have taken or may take any action hereunder or under any other Loan Document (including
any consent to any amendment, waiver or other modification pursuant to Section 9.02); provided that any amendment, waiver
or other modification requiring the consent of all Lenders or all Lenders affected thereby shall, except as otherwise provided
in Section 9.02, require the consent of such Defaulting Lender in accordance with the terms hereof;

 

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

 

(i) all or any part of the Swingline
Exposure (other than (x) any portion thereof with respect to which such Defaulting Lender shall have funded its participation as
contemplated by Section 2.21(c) and (y) the portion of the Swingline Exposure referred to in clause (b) of the definition thereof)
and LC Exposure (other than any portion thereof attributable to unreimbursed LC Disbursements with respect to which such Defaulting
Lender shall have funded its participation as contemplated by Sections 2.04(e) and 2.04(f)) of such Defaulting Lender shall be
reallocated among the non-Defaulting Lenders in accordance with their respective Applicable Percentages but only to the extent
that the sum of all non-Defaulting Lenders’ Revolving Exposures plus such Defaulting Lender’s

 

    66

     

    

 

Swingline Exposure and LC Exposure
does not exceed the sum of all non-Defaulting Lenders’ Revolving Commitments; provided that subject to Section 9.18,
no reallocation under this clause (i) shall constitute a waiver or release of any claim of any party hereunder against a Defaulting
Lender arising from that Lender having become a Defaulting Lender, including any claim of a non-Defaulting Lender as a result
of such non-Defaulting Lender’s increased exposure following such reallocation; 

 

(ii) if the reallocation described
in clause (i) above cannot, or can only partially, be effected, the Borrower shall within one Business Day following notice by
the Administrative Agent, without prejudice to any rights or remedies of the Borrower against such Defaulting Lender, (A) first,
prepay the portion of such Defaulting Lender’s Swingline Exposure that has not been reallocated and (B) second, cash collateralize
for the benefit of the Issuing Banks the portion of such Defaulting Lender’s LC Exposure that has not been reallocated in
accordance with the procedures set forth in Section 2.04(i) for so long as such LC Exposure is outstanding;

 

(iii) if the Borrower cash collateralizes
any portion of such Defaulting Lender’s LC Exposure pursuant to clause (ii)(B) above, the Borrower shall not be required
to pay participation fees to such Defaulting Lender pursuant to Section 2.11(b) with respect to such portion of such Defaulting
Lender’s LC Exposure for so long as such Defaulting Lender’s LC Exposure is cash collateralized;

 

(iv) if any portion of the LC
Exposure of such Defaulting Lender is reallocated pursuant to clause (i) above, then the fees payable to the Lenders pursuant to
Sections 2.11(a) and 2.11(b) shall be adjusted to give effect to such reallocation; and

 

(v) if all or any portion of such
Defaulting Lender’s LC Exposure is neither reallocated nor cash collateralized pursuant to clause (i) or (ii) above, then,
without prejudice to any rights or remedies of any Issuing Bank or any other Lender hereunder, all participation fees payable under
Section 2.11(b) with respect to such Defaulting Lender’s LC Exposure shall be payable to the Issuing Banks (and allocated
among them ratably based on the amount of such Defaulting Lender’s LC Exposure attributable to Letters of Credit issued by
each Issuing Bank) until and to the extent that such LC Exposure is reallocated and/or cash collateralized; and

 

(d)  so
long as such Lender is a Defaulting Lender, the Swingline Lender shall not be required to fund any Swingline Loans and no Issuing
Bank shall be required to issue, amend, renew or extend any Letter of Credit, unless, in each case, it is satisfied that the related
exposure and the Defaulting Lender’s then outstanding Swingline Exposure (other than the portion of such Swingline Exposure
referred to in clause (b) of the definition of such term) or LC Exposure, as applicable, will be fully covered by the Revolving
Commitments of the non-Defaulting Lenders and/or cash collateral provided by the Borrower in accordance with Section 2.19(c), and
participating interests in any

 

    67

     

    

 

such funded Swingline Loan or in any such issued,
amended, renewed or extended Letter of Credit will be allocated among the non-Defaulting Lenders in a manner consistent with Section
2.19(c)(i) (and such Defaulting Lender shall not participate therein). 

 

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

 

In the event that the Administrative Agent,
the Borrower, each Swingline Lender and each Issuing Bank each agrees that a Defaulting Lender has adequately remedied all matters
that caused the applicable Lender to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the Lenders shall be
readjusted to reflect the inclusion of such Lender’s Revolving Commitment and on such date such Lender shall purchase at
par such of the Revolving Loans of the other Lenders as the Administrative Agent shall determine may be necessary in order for
such Lender to hold such Revolving Loans in accordance with its Applicable Percentage; provided that no adjustments will
be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while such Lender was a Defaulting
Lender; provided further that, except as otherwise expressly agreed by the affected parties, no change hereunder from a
Defaulting Lender to a non-Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from
such Lender’s having been a Defaulting Lender.

 

SECTION 2.20.  [reserved]

 

SECTION 2.21.  Swingline Loans.
(a) Subject to the terms and conditions set forth herein, at any time from the First A&R Effective Date until the Revolving
Maturity Date, each Swingline Lender severally agrees to make Swingline Loans, denominated in dollars, to the Borrower in an aggregate
principal amount at any time outstanding that will not result in (i) the aggregate principal amount of the outstanding Swingline
Loans exceeding $25,000,000, (ii) the aggregate principal amount of outstanding Swingline Loans made by such Swingline Lender
exceeding such Swingline Lender’s Swingline Commitment, (iii) such Swingline Lender’s Revolving Exposure exceeding
such Swingline Lender’s Revolving Commitment (in its capacity as a Lender) or (iv) the Aggregate Revolving Exposure
exceeding the Aggregate Revolving Commitment; provided that (A) no Swingline Lender shall be required to make a Swingline
Loan to refinance an outstanding Swingline Loan and (B) each Swingline Loan shall be made as part of a Borrowing consisting of
Swingline Loans made by the Swingline Lenders ratably in accordance with their respective Swingline Commitments. Within the foregoing
limits and subject to the terms and conditions set forth herein, the

 

    68

     

    

 

Borrower may borrow, prepay and reborrow Swingline
Loans. The failure of any Swingline Lender to make any Swingline Loan required to be made by it shall not relieve any other Swingline
Lender of its obligations hereunder; provided that the Swingline Commitments of the Swingline Lenders are several and no
Swingline Lender shall be responsible for any other Swingline Lender’s failure to make Swingline Loans as required. 

 

(b)  To
request a Swingline Loan, the Borrower shall notify the Administrative Agent of such request by telephone, not later than 12:00
noon, New York City time, on the day of such proposed Swingline Loan. Each such notice shall be irrevocable and shall be confirmed
promptly by hand delivery or facsimile to the Administrative Agent of a written Borrowing Request signed by a Responsible Officer
of the Borrower. Each such telephonic and written Borrowing Request shall specify the requested date (which shall be a Business
Day) and amount of the requested Swingline Loan. The Administrative Agent will promptly advise the Swingline Lenders of any such
notice received from the Borrower. Each Swingline Lender shall make its ratable portion of the requested Swingline Loan available
to the Borrower by means of a credit to an account of the Borrower maintained with the Administrative Agent designated for such
purpose (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.04(e),
by remittance to the applicable Issuing Bank or, to the extent that the Revolving Lenders have made payments pursuant to Section
2.04(e) to reimburse such Issuing Bank, to such Revolving Lenders and such Issuing Bank as their interests may appear) by 3:00 p.m.,
New York City time, on the requested date of such Swingline Loan.

 

(c)  Any
Swingline Lender may by written notice given to the Administrative Agent not later than 12:00 noon, New York City time, on
any Business Day, require the Revolving Lenders to acquire participations on such Business Day in all or a portion of its Swingline
Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which the Revolving Lenders will be required
to participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving Lender,
specifying in such notice such Revolving Lender’s Applicable Percentage of such Swingline Loan or Swingline Loans. Each Revolving
Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Administrative Agent,
for the account of such Swingline Lenders, such Revolving Lender’s Applicable Percentage of such Swingline Loan or Swingline
Loans. Each Revolving Lender acknowledges and agrees that, in making any Swingline Loan, each Swingline Lender shall be entitled
to rely, and shall not incur any liability for relying, upon the representation and warranty of the Borrower deemed made pursuant
to Section 4.02 unless, at least one Business Day prior to the time such Swingline Loan was made, the Required Lenders shall have
notified such Swingline Lender (with a copy to the Administrative Agent) in writing that, as a result of one or more events or
circumstances described in such notice, one or more of the conditions precedent set forth in Section 4.02(a) or 4.02(b) would not
be satisfied if such Swingline Loan were then made (it being understood and agreed that, in the event such Swingline Lender shall
have received any such notice, it shall have no obligation to make any Swingline Loan until and unless it shall be satisfied that
the events and circumstances

 

    69

     

    

 

described in such notice shall have been cured
or otherwise shall have ceased to exist). Each Revolving Lender further acknowledges and agrees that its obligation to acquire
participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance
whatsoever, including the occurrence and continuance of a Default or any reduction or termination of the Revolving Commitments,
and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender
shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided
in Section 2.05 with respect to Revolving Loans made by such Lender (and Section 2.05 shall apply, mutatis mutandis,
to the payment obligations of the Revolving Lenders under this paragraph), and the Administrative Agent shall promptly remit to
the applicable Swingline Lenders the amounts so received by it from the Revolving Lenders. The Administrative Agent shall promptly
notify the Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph by any Revolving Lenders,
and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to such Swingline
Lenders. Any amounts received by a Swingline Lender from the Borrower (or other Person on behalf of the Borrower) in respect of
a Swingline Loan after receipt by such Swingline Lender of the proceeds of a sale of participations therein from the Revolving
Lenders shall be promptly remitted by such Swingline Lender to the Administrative Agent; and any such amounts received by the
Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving Lenders that shall have made their
payments pursuant to this paragraph and to the applicable Swingline Lenders, as their interests may appear; provided that
any such payment so remitted shall be repaid to the applicable Swingline Lenders or to the Administrative Agent, as applicable,
and thereafter to the Borrower, if and to the extent such payment is required to be refunded to the Borrower for any reason. The
purchase of participations in a Swingline Loan pursuant to this paragraph shall not constitute a Loan and shall not relieve the
Borrower of its obligation to repay such Swingline Loan. 

 

SECTION 2.22.  Incremental Revolving
Commitments. (a) At any time and from time to time, subject to the terms and conditions set forth herein, the Borrower may,
by notice to the Administrative Agent (whereupon the Administrative Agent shall promptly deliver a copy to each of the Lenders),
request one or more increases in the aggregate amount of the Revolving Commitments (each such increase, a “Revolving Commitment
Increase”); provided that at the time of each such request and upon the effectiveness of each Incremental Facility
Amendment, (A) no Default has occurred and is continuing or shall result therefrom, (B) after giving effect to such Revolving Commitment
Increase and the application of the proceeds therefrom and assuming that the full amount of such Revolving Commitment Increase
shall have been funded on such date, the Borrower shall be in compliance, on a Pro Forma Basis, with the covenants contained in
Sections 6.12 and 6.13 and (C) the Borrower shall have delivered a certificate of a Financial Officer to the effect set forth in
clauses (A) and (B) above, together with reasonably detailed calculations demonstrating compliance with clause (B) above (which
calculations shall, if made as of the last day of any fiscal quarter of the Borrower for which the Borrower has not delivered to
the Administrative Agent the financial statements and certificate of a Financial Officer required to be delivered by

 

    70

     

    

 

Section 5.01(a) or 5.01(b) and Section 5.01(c),
respectively, be accompanied by a reasonably detailed calculation of Consolidated EBITDA and Consolidated Interest Expense for
the relevant period). Notwithstanding anything to contrary herein, the aggregate principal amount of all Revolving Commitment
Increases incurred pursuant to this Section 2.22 shall not exceed the sum of (x) $250,000,000 (the “Dollar-Based Incremental
Availability”) and (y) any amount, so long as the Secured Leverage Ratio, calculated on a Pro Forma Basis as of the
most recently ended fiscal quarter of the Borrower after giving effect to the applicable Revolving Commitment Increase and the
application of proceeds therefrom and assuming that the full amount of such Revolving Commitment Increase shall have been funded
on such date, is no greater than 3.50:1.00 (the “Ratio-Based Incremental Availability”); it being understood
that (i) if the Borrower incurs any Revolving Commitment Increase using Dollar-Based Incremental Availability simultaneously (or
substantially simultaneously) with the incurrence of any Revolving Commitment Increase using Ratio-Based Incremental Availability,
the Secured Leverage Ratio with respect to the Ratio-Based Incremental Availability shall be calculated taking into account such
Revolving Commitment Increase incurred using the Dollar-Based Incremental Availability (and assuming all such Revolving Commitments
shall have been funded) and (ii) each Revolving Commitment Increase will be deemed to be incurred as a Revolving Commitment Increase
using the Dollar-Based Incremental Availability (to the extent compliant therewith) until the Dollar-Based Incremental Availability
is exhausted. Each Revolving Commitment Increase shall be in an integral multiple of $1,000,000 and be in an aggregate principal
amount that is not less than $10,000,000; provided that such amount may be less than $10,000,000 if such amount represents
all the remaining availability under the Revolving Commitment Increases permitted above. 

 

(b)  Each
notice from the Borrower pursuant to this Section shall set forth the requested amount and proposed terms of the relevant Revolving
Commitment Increase. Any additional bank, financial institution, existing Lender or other Person that elects to extend Revolving
Commitment Increases shall be reasonably satisfactory to the Borrower, the Administrative Agent, each Issuing Bank and each Swingline
Lender (any such bank, financial institution, existing Lender or other Person being called an “Additional Lender”)
and, if not already a Lender, shall become a Lender under this Agreement pursuant to an amendment (an “Incremental Facility
Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed by the Borrower, such Additional
Lender and the Administrative Agent. No Lender shall be obligated to provide any Revolving Commitment Increase, unless it so agrees.
Commitments in respect of any Revolving Commitment Increase shall become Commitments (or in the case of any Revolving Commitment
Increase to be provided by an existing Lender, an increase in such Lender’s Revolving Commitment) under this Agreement upon
the effectiveness of the applicable Incremental Facility Amendment. Notwithstanding anything in this Agreement to the contrary,
an Incremental Facility Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement or any
other Loan Document as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of
this Section. The effectiveness of any Incremental Facility Amendment shall, unless otherwise agreed to by the Administrative Agent
and the Additional Lenders, be subject to the satisfaction on the effective date thereof of each of the conditions set forth in
Section 4.02 (it being understood and agreed

 

    71

     

    

 

that all references to a Borrowing in Section
4.02 shall be deemed to refer to the applicable Incremental Facility Amendment). 

 

(c)  On
the date of effectiveness of any Revolving Commitment Increase, (i) the aggregate principal amount of the Revolving Loans outstanding
(the “Existing Revolving Borrowings”) immediately prior to the effectiveness of such Revolving Commitment Increase
shall be deemed to be repaid, (ii) each Revolving Commitment Increase Lender that shall have had a Revolving Commitment prior to
the effectiveness of such Revolving Commitment Increase shall pay to the Administrative Agent in same day funds an amount equal
to the amount, if any, by which (A) (1) such Revolving Commitment Increase Lender’s Applicable Percentage (calculated after
giving effect to the effectiveness of such Revolving Commitment Increase) multiplied by (2) the aggregate principal amount of the
Resulting Revolving Borrowings (as hereinafter defined) exceeds (B) (1) such Revolving Commitment Increase Lender’s Applicable
Percentage (calculated without giving effect to the effectiveness of such Revolving Commitment Increase) multiplied by (2) the
aggregate principal amount of the Existing Revolving Borrowings, (iii) each Revolving Commitment Increase Lender that shall not
have had a Revolving Commitment prior to the effectiveness of such Revolving Commitment Increase shall pay to the Administrative
Agent in same day funds an amount equal to (1) such Revolving Commitment Increase Lender’s Applicable Percentage (calculated
after giving effect to the effectiveness of such Revolving Commitment Increase) multiplied by (2) the aggregate principal amount
of the Resulting Revolving Borrowings, (iv) after the Administrative Agent receives the funds specified in clauses (ii) and (iii)
above, the Administrative Agent shall pay to each applicable Lender the portion of such funds that is equal to the amount, if any,
by which (A) (1) such Lender’s Applicable Percentage (calculated without giving effect to the effectiveness of such Revolving
Commitment Increase) multiplied by (2) the aggregate principal amount of the Existing Revolving Borrowings, exceeds (B) (1) such
Lender’s Applicable Percentage (calculated after giving effect to the effectiveness of such Revolving Commitment Increase)
multiplied by (2) the aggregate principal amount of the Resulting Revolving Borrowings, (v) after the effectiveness of such Revolving
Commitment Increase, the Borrower shall be deemed to have made new Revolving Borrowings (the “Resulting Revolving Borrowings”)
in an aggregate principal amount equal to the aggregate principal amount of the Existing Revolving Borrowings and of the Types
and for the Interest Periods specified in a Borrowing Request delivered to the Administrative Agent in accordance with Section
2.03 (and the Borrower shall deliver such Borrowing Request), (vi) each Lender shall be deemed to hold its Applicable Percentage
of each Resulting Revolving Borrowing (calculated after giving effect to the effectiveness of such Revolving Commitment Increase)
and (vii) the Borrower shall pay each Lender any and all accrued but unpaid interest on its Loans that comprised the Existing Revolving
Borrowings. The deemed payments of the Existing Revolving Borrowings made pursuant to clause (i) above shall be subject to compensation
by the Borrower pursuant to the provisions of Section 2.15 if the date of the effectiveness of such Revolving Commitment Increase
occurs other than on the last day of the Interest Period relating thereto. Upon each Revolving Commitment Increase pursuant to
this Section, each Lender immediately prior to such increase will automatically and without further act be deemed to have assigned
to each Revolving Commitment Increase Lender, and each such

 

    72

     

    

 

Revolving Commitment Increase Lender will automatically
and without further act be deemed to have assumed, a portion of such Lender’s participations hereunder in outstanding Letters
of Credit and Swingline Loans such that, after giving effect to such Revolving Commitment Increase and each such deemed assignment
and assumption of participations, the percentage of the aggregate outstanding participations hereunder in Letters of Credit and
participations hereunder in Swingline Loans, in each case held by each Lender (including each such Revolving Commitment Increase
Lender) will equal such Lender’s Applicable Percentage. 

 

ARTICLE III

Representations and Warranties

 

The Borrower represents and warrants to the
Administrative Agent, each of the Issuing Banks and each of the Lenders that:

 

SECTION 3.01.  Organization;
Powers. Each of the Borrower and its Subsidiaries (a) is duly organized, validly existing and, to the extent that such concept
is applicable in the relevant jurisdiction, in good standing under the laws of the jurisdiction of its organization, (b) has all
requisite power and authority, and the legal right, to carry on its business as now conducted and as proposed to be conducted,
to execute, deliver and perform its obligations under this Agreement and each other Loan Document and each other agreement or instrument
contemplated thereby to which it is a party and to effect the Transactions and (c) except where the failure to do so, individually
or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, is qualified to do business in, and,
to the extent that such concept is applicable in the relevant jurisdiction, is in good standing in, every jurisdiction where such
qualification is required.

 

SECTION 3.02.  Authorization;
Due Execution and Delivery; Enforceability. The Transactions to be entered into by each Loan Party have been duly authorized
by all necessary corporate or other organizational action and, if required, action by the holders of such Loan Party’s Equity
Interests. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other Loan Document to
which any Loan Party is to be a party, when executed and delivered by such Loan Party, will constitute, a legal, valid and binding
obligation of the Borrower or such Loan Party, as applicable, enforceable against such Person in accordance with its terms, subject
to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and
subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.

 

SECTION 3.03.  Governmental Approvals;
No Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing with, or any other
action by, any Governmental Authority, except such as have been obtained or made and are in full force and effect and except filings
necessary to perfect Liens created under the Loan Documents, (b) will not violate any Requirement of Law applicable to the
Borrower or any Subsidiary, (c) will not violate or result (alone or with notice or lapse of

 

    73

     

    

 

time or both) in a default under any indenture,
agreement or other instrument binding upon the Borrower or any Subsidiary or their respective assets, or give rise to a right
thereunder to require any payment, repurchase or redemption to be made by the Borrower or any Subsidiary or give rise to a right
of, or result in, termination, cancelation or acceleration of any obligation thereunder and (d) will not result in the creation
or imposition of any Lien on any asset now owned or hereafter acquired by the Borrower or any Subsidiary, except Liens created
or otherwise permitted under the Loan Documents, except in the case of clause (b) (solely with respect to clause (b) of the definition
of “Requirement of Law”) and clause (c), to the extent that (i) the failure to obtain or make such consent, approval,
registration, filing or take such other action or (ii) such violation, as the case may be, individually or in the aggregate, would
not reasonably be expected to result in a Material Adverse Effect. 

 

SECTION 3.04.  Financial Condition;
No Material Adverse Change. (a) The Borrower has heretofore furnished to the Lenders its consolidated balance sheet and consolidated
statements of operations and comprehensive income, stockholders’ equity and cash flows as of and for the fiscal years ended
July 31, 2016, July 31, 2017 and July 31, 2018, audited by and accompanied by an opinion of Deloitte & Touche
LLP, independent public accountants (in each case, without a “going concern” or like qualification or exception and
without any qualification or exception as to the scope of such audit). Such financial statements present fairly, in all material
respects, the financial position and results of operations and cash flows of the Borrower and the Subsidiaries on a consolidated
basis as of such dates and for such periods in accordance with GAAP consistently applied.

 

(b)  [reserved]

 

(c)  Except
as disclosed in the audited financial statements of the Borrower referred to in clause (a) above or the notes thereto, none of
the Borrower or any Subsidiary has, as of the First A&R Effective Date, any material direct or contingent liabilities, unusual
long-term commitments or unrealized losses.

 

(d)  No
event, change or condition has occurred that has had, or would reasonably be expected to have, a Material Adverse Effect.

 

SECTION 3.05.  Properties.
(a) Each of the Borrower and its Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property
material to its business (including the Mortgaged Properties), except for defects in title that would not reasonably be expected
to result in a Material Adverse Effect and Liens expressly permitted by Section 6.02.

 

(b)  Each
of the Borrower and each Subsidiary owns, or is licensed to use, or otherwise has the right to use, all trademarks, tradenames,
copyrights, patents and other intellectual property material to its business as currently conducted or as proposed to be conducted,
and the use thereof by the Borrower and each Subsidiary does not infringe upon the rights of any other Person, except for any such
infringements that, individually or in the aggregate, would not reasonably be expected to result in a Material

 

    74

     

    

 

Adverse Effect. No claim or litigation regarding
any trademarks, tradenames, copyrights, patents or other intellectual property owned or used by the Borrower or any Subsidiary
is pending or, to the knowledge of the Borrower or any Subsidiary, threatened against the Borrower or any Subsidiary that, individually
or in the aggregate, would reasonably be expected to result in a Material Adverse Effect. 

 

(c)  Schedule 3.05
sets forth the address of each real property that is owned or leased by the Borrower or any Subsidiary as of the First A&R
Effective Date.

 

(d)  As
of the First A&R Effective Date, none of the Borrower or any Subsidiary has received notice of any pending or contemplated
condemnation proceeding affecting any Mortgaged Property or any sale or disposition thereof in lieu of condemnation. Neither any
Mortgaged Property nor any interest therein is subject to any right of first refusal, option or other contractual right to purchase
such Mortgaged Property or interest therein.

 

SECTION 3.06.  Litigation and
Environmental Matters. (a) There are no actions, suits, investigations or proceedings at law or in equity or by or before any
arbitrator or Governmental Authority pending against or, to the knowledge of the Borrower or any Subsidiary, threatened against
or affecting the Borrower or any Subsidiary or any business, property or rights of any such Person (i) as to which there is
a reasonable likelihood of an adverse determination and that, if adversely determined, would reasonably be expected, individually
or in the aggregate, to result in a Material Adverse Effect or (ii) that involve any of the Loan Documents or the Transactions.

 

(b)  Except
with respect to any matters that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse
Effect, none of the Borrower or any Subsidiary (i) has failed to comply with any Environmental Law or to obtain, maintain
or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any
Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows
of any basis for any Environmental Liability.

 

SECTION 3.07.  Compliance with
Laws and Agreements; No Default. Each of the Borrower and its Subsidiaries is in compliance with (a) all Requirements
of Law and (b) all indentures, agreements and other instruments binding upon it or its property, except, in the case of clause (b)
of this Section, where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a
Material Adverse Effect. No Default has occurred and is continuing.

 

SECTION 3.08.  Anti-Terrorism
Laws; Anti-Corruption Laws. The Borrower has implemented and maintains in effect policies and procedures designed to ensure
compliance by the Borrower, the Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption
Laws and applicable Sanctions, and the Borrower, the Subsidiaries and their respective officers and employees, and, to the knowledge
of the Borrower, their respective directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in
all material respects. None of (a) the

 

    75

     

    

 

Borrower, any Subsidiary or, to the knowledge
of the Borrower or such Subsidiary, any of their respective directors, officers or employees or (b) to the knowledge of the Borrower,
any agent of the Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility
established hereby, is a Sanctioned Person. The Transactions will not violate Anti-Corruption Laws or applicable Sanctions. 

 

SECTION 3.09.  Investment Company
Status; Other Regulations. None of the Borrower or any Subsidiary is an “investment company” as defined in,
or subject to regulation under, the Investment Company Act. No Loan Party is subject to regulation under any Requirement of Law
(other than Regulation X of the Board of Governors) that limits its ability to incur Indebtedness or which may otherwise render
all or any portion of the Loan Document Obligations unenforceable.

 

SECTION 3.10.  Federal Reserve
Regulations. None of the Borrower or any Subsidiary is engaged or will engage, principally or as one of its important activities,
in the business of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors) or extending
credit for the purpose of purchasing or carrying margin stock. No part of the proceeds of the Loans will be used, directly or indirectly,
to purchase or carry margin stock or for any purpose that entails a violation (including on the part of any Lender) of any of the
regulations of the Board of Governors, including Regulations U and X.

 

SECTION 3.11.  Taxes. Each
of the Borrower and each Subsidiary (a) has timely filed or caused to be filed all Tax returns and reports required to have been
filed by it, except to the extent that failure to do so would not reasonably be expected to result in a Material Adverse Effect,
and (b) has paid or caused to be paid all Taxes required to have been paid by it, except where the validity or amount thereof
is being contested in good faith by appropriate proceedings; provided that (i) the Borrower or such Subsidiary, as applicable,
has set aside on its books adequate reserves therefor in conformity with GAAP, (ii) such contest effectively suspends collection
of the contested obligation and the enforcement of any Lien securing such obligation and (iii) the failure to pay such Taxes, individually
or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

 

SECTION 3.12.  ERISA. (a)
No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for which
liability is reasonably expected to occur, would reasonably be expected to result in a Material Adverse Effect. The present value
of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Accounting Standards Codification
Topic 715) did not, as of the date of the most recent financial statements reflecting such amounts, exceed by more than $10,000,000
the fair market value of the assets of such Plan, and the present value of all accumulated benefit obligations of all underfunded
Plans (based on the assumptions used for purposes of Accounting Standards Codification Topic 715) did not, as of the date of the
most recent financial statements reflecting such amounts, exceed by more than $10,000,000 the fair market value of the assets of
all such underfunded Plans.

 

    76

     

    

 

(b)  Except
as would not reasonably be expected to result in a Material Adverse Effect, each Foreign Pension Plan is in compliance in all material
respects with all Requirements of Law applicable thereto and the respective requirements of the governing documents for such plan.
With respect to each Foreign Pension Plan, none of the Borrower, its Affiliates or any of their respective directors, officers,
employees or agents has engaged in a transaction that could subject the Borrower or any Subsidiary, directly or indirectly, to
a tax or civil penalty that would reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.
With respect to each Foreign Pension Plan, reserves have been established in the financial statements furnished to Lenders in respect
of any unfunded liabilities in accordance with all Requirements of Law or, where required, in accordance with ordinary accounting
practices in the jurisdiction in which such Foreign Pension Plan is maintained. The aggregate unfunded liabilities with respect
to such Foreign Pension Plans would not reasonably be expected to result in a Material Adverse Effect; and the present value of
the aggregate accumulated benefit obligations of all underfunded Foreign Pension Plans (based on those assumptions used to fund
each such Foreign Pension Plan) did not, as of the date of the most recent financial statements reflecting such amounts, exceed
by more than $10,000,000 the fair market value of the assets of all such Foreign Pension Plans.

 

SECTION 3.13.  Disclosure.
Each of the Borrower and each Subsidiary has disclosed to the Lenders all agreements, instruments and corporate or other restrictions
to which the Borrower or any Subsidiary is subject, and all other matters known to any of them, that, individually or in the aggregate,
would reasonably be expected to result in a Material Adverse Effect. None of the other reports, financial statements, certificates
or other information furnished by or on behalf of the Borrower or any Subsidiary to any Arranger, the Administrative Agent, any
Issuing Bank or any Lender in connection with the negotiation of this Agreement, the First Amendment and Restatement Agreement
or any other Loan Document, included herein or therein or furnished hereunder or thereunder (as modified or supplemented by other
information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not materially misleading; provided that,
with respect to forecasts and projected financial information, the Borrower and each Subsidiary represents only that such information
was prepared in good faith based upon assumptions believed by them to be reasonable at the time made and at the time so furnished
and, if such forecasts and projected financial information were furnished prior to the First A&R Effective Date, as of the
First A&R Effective Date (it being understood and agreed that any such forecasts and projected financial information may vary
from actual results and that such variations may be material).

 

SECTION
3.14.  Subsidiaries.  Schedule 3.14 sets forth the name of, and the ownership interest of the
Borrower and each Subsidiary in, each Subsidiary and identifies each Subsidiary that is a Subsidiary Loan Party, in each case
as of the First A&R Effective Date. The Equity Interests in each Subsidiary have been duly authorized and validly issued
and are fully paid and nonassessable, and such Equity Interests are owned by the Borrower, directly or indirectly, free and
clear of all Liens (other than Liens created under the Loan Documents). Except as set forth in Schedule 3.14, there
is

 

    77

     

    

 

no existing option, warrant, call, right, commitment
or other agreement to which the Borrower or any Subsidiary is a party requiring, and there are no Equity Interests in any Subsidiary
outstanding that upon exercise, conversion or exchange would require, the issuance by the Borrower or any Subsidiary of any additional
Equity Interests or other securities exercisable for, convertible into, exchangeable for or evidencing the right to subscribe
for or purchase any Equity Interests in the Borrower or any Subsidiary. 

 

SECTION 3.15.  Insurance.  Schedule
3.15 sets forth a description of all insurance maintained by or on behalf of the Borrower or any Subsidiary as of the First
A&R Effective Date. As of the First A&R Effective Date, such insurance is in full force and effect and all premiums in
respect of such insurance have been paid. The Borrower believes that the insurance maintained by or on behalf of the Borrower and
the Subsidiaries is in such amounts (with no greater risk retention) and against such risks as is (a) customarily maintained
by companies of established repute engaged in the same or similar businesses operating in the same or similar locations and (b) adequate.

 

SECTION 3.16.  Labor Matters.
As of the First A&R Effective Date, there are no strikes, lockouts or slowdowns or any other material labor disputes against
the Borrower or any Subsidiary pending or, to the knowledge of the Borrower or any Subsidiary, threatened. Except as would not,
individually or in the aggregate, be reasonably expected to have a Material Adverse Effect (i) the Borrower and each Subsidiary
are in compliance in all material respects with the Fair Labor Standards Act or any other applicable Federal, state, local or foreign
law dealing with wage and hour matters and (ii) all payments due from the Borrower or any Subsidiary, or for which any claim may
be made against the Borrower or any Subsidiary, on account of wages and employee health and welfare insurance and other benefits
have been paid or accrued as a liability on the books of the Borrower or such Subsidiary. To the knowledge of the Borrower or any
Subsidiary, the consummation of the Transactions will not give rise to any right of termination or right of renegotiation on the
part of any union under any collective bargaining agreement to which the Borrower or any Subsidiary is bound.

 

SECTION 3.17.  Solvency.
Immediately after the consummation of the Transactions to occur on the First A&R Effective Date and immediately following the
making of each Loan and the application of the proceeds thereof, and giving effect to the rights of indemnification, subrogation
and contribution under the Loan Documents, (a) the sum of the debts and liabilities, direct, subordinated, contingent or otherwise,
on a consolidated basis of the Borrower and its Subsidiaries, does not exceed the fair value of the assets of the Borrower and
its Subsidiaries on a consolidated basis, and the present fair saleable value of the property of the Borrower and its Subsidiaries
on a consolidated basis will be greater than the amount that will be required to pay the probable liability of the Borrower and
its Subsidiaries on a consolidated basis on their debts and liabilities, direct, subordinated, contingent or otherwise, as such
debts and other liabilities become absolute and matured, (b) the capital of the Borrower and its Subsidiaries, taken as a whole,
is not unreasonably small in relation to the business of the Borrower or its Subsidiaries, taken as a whole, contemplated as of
the date hereof and (c) the Borrower and its Subsidiaries, taken as a whole, do not intend to incur, or believe that they will
incur, debts including current obligations beyond their ability to pay such debt as they

 

    78

     

    

 

mature in the ordinary course of business.
For the purposes of this Section, the amount of any contingent liability at any time shall be computed as the amount that, in
light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become
an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual under Statement
of Financial Accounting Standard No. 5). 

 

SECTION 3.18.  Collateral Matters.
(a) The Collateral Agreement creates in favor of the Administrative Agent, for the benefit of the Secured Parties, a valid and
enforceable security interest in the Collateral (as defined therein) and (i) when the Collateral (as defined therein) constituting
certificated securities (as defined in the Uniform Commercial Code) is delivered to the Administrative Agent, together with instruments
of transfer duly endorsed in blank, the security interest created under the Collateral Agreement will constitute a fully perfected
security interest in all right, title and interest of the pledgors thereunder in such Collateral, prior and superior in right to
any other Person, and (ii) when financing statements in appropriate form are filed in the applicable filing offices, the security
interest created under the Collateral Agreement will constitute a fully perfected security interest in all right, title and interest
of the Loan Parties in the remaining Collateral (as defined therein) to the extent perfection can be obtained by filing Uniform
Commercial Code financing statements, prior and superior to the rights of any other Person, except for rights secured by Liens
permitted under Section 6.02.

 

(b)  Each
Mortgage, upon execution and delivery thereof by the parties thereto, will create in favor of the Administrative Agent, for the
benefit of the Secured Parties, a legal, valid and enforceable security interest in all the applicable mortgagor’s right,
title and interest in and to the Mortgaged Properties subject thereto and the proceeds thereof, and when the Mortgages have been
filed in the jurisdictions specified therein, the Mortgages will constitute a fully perfected security interest in all right, title
and interest of the mortgagors in the Mortgaged Properties and the proceeds thereof, prior and superior in right to any other Person,
but subject to Liens permitted under Section 6.02.

 

(c)  Upon
the recordation of the Collateral Agreement (or a short-form security agreement in form and substance reasonably satisfactory to
the Borrower and the Administrative Agent) with the United States Patent and Trademark Office or the United States Copyright Office,
as applicable, and the filing of the financing statements referred to in paragraph (a) of this Section, the security interest created
under the Collateral Agreement will constitute a fully perfected security interest in all right, title and interest of the Loan
Parties in the Intellectual Property (as defined in the Collateral Agreement) owned by the Loan Parties in which a security interest
may be perfected by filing in the United States of America, in each case prior and superior in right to any other Person, but subject
to Liens permitted under Section 6.02 (it being understood and agreed that subsequent recordings in the United States Patent
and Trademark Office or the United States Copyright Office may be necessary to perfect a security interest in such Intellectual
Property acquired by the Loan Parties after the Effective Date).

 

    79

     

    

 

(d)  Each
Security Document, other than any Security Document referred to in the preceding paragraphs of this Section, upon execution and
delivery thereof by the parties thereto and the making of the filings and taking of the other actions provided for therein, will
be effective under applicable law to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a valid
and enforceable security interest in the Collateral subject thereto, and will constitute a fully perfected security interest in
all right, title and interest of the Loan Parties in the Collateral subject thereto, prior and superior to the rights of any other
Person, except for rights secured by Liens permitted under Section 6.02.

 

SECTION 3.19.  Permits and Licenses.
Each of the Borrower and each Subsidiary has all permits, licenses, certifications, authorizations and approvals required for it
lawfully to own and operate their respective businesses except those the failure of which to have, individually or in the aggregate,
would not reasonably be expected to have a Material Adverse Effect.

 

ARTICLE IV

Conditions

 

SECTION 4.01.  [reserved]

 

SECTION 4.02.  Each Credit Event.
The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of the Issuing Banks to issue, amend, renew
or extend any Letter of Credit, is subject to receipt of the request therefor in accordance herewith and to the satisfaction of
the following conditions:

 

(a)  The
representations and warranties of each Loan Party set forth in the Loan Documents shall be true and correct in all material respects
(or, in the case of representations and warranties qualified as to materiality, in all respects) on and as of the date of such
Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable, except in the case
of any such representation and warranty that expressly relates to a prior date, in which case such representation and warranty
shall be true and correct in all material respects (or in all respects, as applicable) as of such earlier date.

 

(b)  At
the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter
of Credit, as applicable, no Default shall have occurred and be continuing.

 

Each Borrowing (provided that a conversion or a continuation
of a Borrowing shall not constitute a “Borrowing” for purposes of this Section) and each issuance, amendment, renewal
or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on the date thereof
as to the matters specified in paragraphs (a) and (b) of this Section.

 

    80

     

    

 

ARTICLE V

Affirmative Covenants

 

Until the Commitments shall have expired or
been terminated and the principal of and interest on each Loan and all fees, expenses and other amounts (other than contingent
amounts not yet due) payable under this Agreement or any other Loan Document shall have been paid in full and all Letters of Credit
shall have expired or been terminated and all LC Disbursements shall have been reimbursed, the Borrower covenants and agrees with
the Lenders that:

 

SECTION 5.01.  Financial Statements
and Other Information. The Borrower will furnish to the Administrative Agent, which shall furnish to each Issuing Bank and
each Lender, the following:

 

(a)  as
soon as available, but in any event within 90 days after the end of each fiscal year of the Borrower, its audited consolidated
(and unaudited consolidating) balance sheet and audited consolidated (and unaudited consolidating) statements of operations and
comprehensive income, stockholders’ equity and cash flows (provided that in the case of consolidating statements of
cash flows only, such consolidating statements shall be prepared on a Segment Level Basis) as of the end of and for such fiscal
year, and related notes thereto, setting forth in each case in comparative form the figures for the previous fiscal year, all reported
on by Deloitte & Touche LLP or other independent public accountants of recognized national standing (without a “going
concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to
the effect that such financial statements present fairly in all material respects the financial condition, results of operations
and cash flow of the Borrower and the Subsidiaries on a consolidated (or, in the case of the consolidating financial statements
(other than the consolidating statements of cash flow, which shall be on a Segment Level Basis), an individual) basis as of the
end of and for such fiscal year in accordance with GAAP consistently applied and accompanied by a narrative management’s
discussion and analysis report describing the financial position, results of operations and cash flows of the Borrower and the
consolidated Subsidiaries in a form reasonably satisfactory to the Administrative Agent;

 

(b)  as
soon as available, but in any event within 45 days after the end of each of the first three fiscal quarters of each fiscal
year of the Borrower, its unaudited consolidated and consolidating balance sheet and unaudited consolidated and consolidating statements
of operations and comprehensive income, stockholders’ equity and cash flows (provided that in the case of consolidating
statements of cash flow, such consolidated statements shall be prepared on a Segment Level Basis) as of the end of and for such
fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for
the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified
by

 

    81

     

    

 

a Financial Officer as presenting
fairly in all material respects the financial condition, results of operations and cash flows of the Borrower and the Subsidiaries
on a consolidated (or, in the case of the consolidating financial statements (other than the consolidating statements of cash
flow, which shall be on a Segment Level Basis), an individual) basis as of the end of and for such fiscal quarter and such portion
of the fiscal year in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and reduced footnote
disclosures, and accompanied by a narrative management’s discussion and analysis report describing the financial position,
results of operations and cash flows of the Borrower and the consolidated Subsidiaries in a form reasonably satisfactory to the
Administrative Agent; 

 

(c)  concurrently
with each delivery of financial statements under clause (a) or (b) above, a certificate of a Financial Officer (i) certifying
as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed
to be taken with respect thereto, (ii) setting forth reasonably detailed calculations demonstrating compliance with the covenants
contained in Sections 6.12 and 6.13 and (iii) stating whether any change in GAAP or in the application thereof has occurred
since the later of the date of the Borrower’s audited financial statements referred to in Section 3.04 and the date
of the prior certificate delivered pursuant to this clause (c) indicating such a change and, if any such change has occurred, specifying
the effect of such change on the financial statements accompanying such certificate;

 

(d)  promptly
after the receipt thereof by the Borrower or any Subsidiary, a copy of any “management letter” received by any such
Person from its certified public accountants and the management’s response thereto;

 

(e)  concurrently
with any delivery of financial statements under clause (a) above, a consolidated budget for such fiscal year (including a projected
consolidated balance sheet and consolidated statements of projected operations, comprehensive income and cash flows as of the end
of and for such fiscal year and setting forth the assumptions used for purposes of preparing such budget) and, promptly when available,
any significant revisions of such budget;

 

(f)  promptly
after the request by any Lender, all documentation and other information that such Lender reasonably requests in order to comply
with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations,
including the USA PATRIOT Act and the Beneficial Ownership Regulation;

 

(g)  promptly
after the request by the Administrative Agent or any Lender, copies of (i) any documents described in Section 101(k)(1) of ERISA
that the Borrower or any of its ERISA Affiliates may request with respect to any Multiemployer Plan and (ii) any notices described
in Section 101(l)(1) of ERISA that the Borrower or any of its ERISA Affiliates may request with respect to any Multiemployer Plan;
provided that if the Borrower or any of its ERISA Affiliates

 

    82

     

    

 

has not requested such documents
or notices from the administrator or sponsor of the applicable Multiemployer Plan, the Borrower or the applicable ERISA Affiliate
shall promptly make a request for such documents or notices from such administrator or sponsor and shall provide copies of such
documents and notices promptly after receipt thereof; 

 

(h)  promptly
after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed
by the Borrower or any Subsidiary with the SEC or with any national securities exchange, or distributed by the Borrower to the
holders of its Equity Interests generally, as applicable;

 

(i)  promptly
after submission to any government or regulatory agency, all documents and information furnished to such government or regulatory
agency other than such documents and information prepared in the normal course of business and which would not reasonably be expected
to result in a Material Adverse Effect; and

 

(j)  promptly
following any written request therefor, such other information regarding the operations, business affairs and financial condition
of the Borrower or any Subsidiary, or compliance with the terms of this Agreement or any other Loan Document, as the Administrative
Agent may reasonably request.

 

Information required to be furnished pursuant to clause (a),
(b) or (h) of this Section shall be deemed to have been furnished if such information, or one or more annual or quarterly reports
containing such information, shall have been posted by the Administrative Agent on the Platform or shall be available on the website
of the SEC at http://www.sec.gov. Information required to be furnished pursuant to this Section may also be furnished by
electronic communications pursuant to procedures approved by the Administrative Agent.

 

SECTION 5.02.  Notices of Material
Events. The Borrower will furnish to the Administrative Agent, which shall furnish to each Issuing Bank and each Lender, promptly
upon any Financial Officer of the Borrower becoming aware, written notice of the following:

 

(a)  the
occurrence of any Default;

 

(b)  the
filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against or, to the
knowledge of a Financial Officer or another executive officer of the Borrower or any Subsidiary, affecting the Borrower or any
Subsidiary, or any adverse development in any such pending action, suit or proceeding not previously disclosed in writing by the
Borrower to the Administrative Agent, that in each case would reasonably be expected to result in a Material Adverse Effect or
that in any manner questions the validity of this Agreement or any other Loan Document;

 

    83

     

    

 

(c)  the
occurrence of any ERISA Event or any fact or circumstance that gives rise to the Borrower’s reasonable expectation that any
ERISA Event will occur that, in either case, alone or together with any other ERISA Events that have occurred or are reasonably
expected to result in a liability of the Borrower and the Subsidiaries in an aggregate amount exceeding $10,000,000;

 

(d)  promptly
after the date that the Borrower or any Subsidiary (i) commences or terminates negotiations with any collective bargaining
agent for the purpose of materially changing any collective bargaining agreement, (ii) reaches an agreement with any collective
bargaining agent prior to ratification for the purpose of materially changing any collective bargaining agreement, (iii) ratifies
any agreement reached with a collective bargaining agent for the purpose of materially changing any collective bargaining agreement
or (iv) becomes subject to a “cooling off period” under the auspices of the National Mediation Board, the commencement
or termination of such negotiations or the receipt of such agreement or notice of a “cooling off period” (including
a copy of such agreement or notice), as applicable; and

 

(e)  any
other development (including notice of any Environmental Liability) that has resulted, or would reasonably be expected to result,
in a Material Adverse Effect.

 

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

 

SECTION 5.03.  Information Regarding
Collateral. (a) The Borrower will furnish to the Administrative Agent prompt written notice of any change (i) in any Loan
Party’s legal name, as set forth in such Loan Party’s organizational documents, (ii) in the jurisdiction of incorporation
or organization of any Loan Party, (iii) in the form of organization of any Loan Party or (iv) in any Loan Party’s organizational
identification number, if any, or, with respect to a Loan Party organized under the laws of a jurisdiction that requires such information
to be set forth on the face of a Uniform Commercial Code financing statement, the Federal Taxpayer Identification Number of such
Loan Party. The Borrower agrees not to effect or permit any change referred to in the preceding sentence unless all filings have
been made under the Uniform Commercial Code or otherwise that are required in order for the Administrative Agent to continue at
all times following such change to have a valid, legal and perfected security interest in all the Collateral.

 

(b)  At
the time of delivery of financial statements pursuant to Section 5.01(a) or Section 5.01(b) (but solely with respect to the
delivery of financial statements for the Borrower’s second fiscal quarter), the Borrower shall deliver to the Administrative
Agent a completed Supplemental Perfection Certificate, signed by a Financial Officer of the Borrower, (i) setting forth the information
required pursuant to the Supplemental Perfection Certificate and indicating, in a manner reasonably

 

    84

     

    

 

satisfactory to the Administrative Agent, any
changes in such information from the most recent Supplemental Perfection Certificate delivered pursuant to this Section (or, prior
to the first delivery of a Supplemental Perfection Certificate, from the Perfection Certificate delivered on the Effective Date)
or (ii) certifying that there has been no change in such information from the most recent Supplemental Perfection Certificate
delivered pursuant to this Section (or, prior to the first delivery of a Supplemental Perfection Certificate, from the Perfection
Certificate delivered on the Effective Date). 

 

SECTION 5.04.  Existence; Conduct
of Business. The Borrower will, and will cause each Subsidiary to, do or cause to be done all things reasonably necessary to
preserve, renew and keep in full force and effect (i) its legal existence and (ii) the rights, licenses, permits, privileges, franchises,
patents, copyrights, trademarks and trade names material to the conduct of its business, except in the case of clause (ii) where
the failure to do so would not reasonably be expected to result in a Material Adverse Effect; provided that the foregoing
shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.03.

 

SECTION 5.05.  Payment of Obligations
and Taxes. The Borrower will, and will cause each Subsidiary to, pay its material obligations (other than Indebtedness and
any obligations in respect of any Hedging Agreements), including material Tax liabilities, before the same shall become delinquent
or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings,
(b) the Borrower or such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP,
(c) such contest effectively suspends collection of the contested obligation and the enforcement of any Lien securing such
obligation and (d) the failure to make payment pending such contest would not reasonably be expected to result in a Material
Adverse Effect.

 

SECTION 5.06.  Maintenance of
Properties. The Borrower will, and will cause each Subsidiary to, keep and maintain all property material to the conduct of
its business in good working order and condition, ordinary wear and tear excepted.

 

SECTION 5.07.  Insurance.
The Borrower will, and will cause each Subsidiary to, maintain, with financially sound and reputable insurance companies, (a) insurance
in such amounts (with no greater risk retention) and against such risks as is (i) customarily maintained by companies of established
repute engaged in the same or similar businesses operating in the same or similar locations and (ii) considered adequate by
the Borrower and (b) all other insurance as may be required by any other Loan Document. Each such policy of liability or casualty
insurance maintained by or on behalf of Loan Parties will (x) in the case of each liability insurance policy (other than workers’
compensation, director and officer liability or other policies in which such endorsements are not customary), name the Administrative
Agent, on behalf of the Secured Parties, as an additional insured thereunder and (y) in the case of each casualty insurance
policy, contain a loss payable clause or endorsement that names the Administrative Agent, on behalf of the Secured Parties, as
the lender’s loss payee thereunder, and the Loan Parties will use commercially reasonable efforts to have each liability
insurance policy and casualty insurance policy referred to in either of clause (a) or (b) above provide for at

 

    85

     

    

 

least 30 days’ or, solely in the
case of cancellation for non-payment, 10 days’ (or such shorter number of days as may be agreed to by the Administrative
Agent) prior written notice to the Administrative Agent of any cancellation of such policy. With respect to each Mortgaged Property
that is located in an area determined by the Federal Emergency Management Agency to have special flood hazards, the applicable
Loan Party has obtained, and will maintain, with financially sound and reputable insurance companies, such flood insurance as
is required under applicable law, including Regulation H of the Board of Governors. The Borrower will furnish to the Lenders,
upon the reasonable request of the Administrative Agent, information in reasonable detail as to the insurance so maintained. In
addition, concurrently with any delivery of financial statements under Section 5.01(a), the Borrower will furnish to the Administrative
Agent a schedule setting forth the policies of insurance then maintained by or on behalf of the Loan Parties. 

 

SECTION 5.08.  Casualty and Condemnation.
The Borrower (a) will furnish to the Administrative Agent, which will furnish to each Issuing Bank and each Lender, prompt
written notice of any casualty or other damage to any material portion of the Collateral or the commencement of any action or proceeding
for the taking of any material portion of or any material interest in the Collateral under power of eminent domain or by condemnation
or similar proceeding and (b) will ensure that the Net Proceeds of any such event (whether in the form of insurance proceeds,
condemnation awards or otherwise) are collected and applied in accordance with the applicable provisions of this Agreement and
the Security Documents.

 

SECTION 5.09.  Books and Records;
Inspection and Audit Rights. The Borrower will, and will cause each Subsidiary to, keep proper books of record and account
in which full, true and correct entries in conformity with GAAP and all Requirements of Law are made of all dealings and transactions
in relation to its business and activities. The Borrower will, and will cause each Subsidiary to, permit any representatives designated
by the Administrative Agent (or any Lender accompanied by a representative designated by the Administrative Agent), upon reasonable
prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its
affairs, finances and condition with its officers and, accompanied by one or more such officers or their designees if so requested
by the Borrower, independent accountants, all at such reasonable times during normal business hours and as often as reasonably
requested (but in no event more than once each fiscal quarter of the Borrower unless a Default has occurred and is continuing).
The Loan Parties shall have the right to have a representative present at any and all inspections.

 

SECTION 5.10.  Compliance with
Laws. The Borrower will, and will cause each Subsidiary to, comply with (a) all Anti-Corruption Laws and Sanctions with respect
to its property and (b) all other Requirements of Law (including Environmental Laws) with respect to it or its property, except
in the case of this clause (b) where the failure to do so, individually or in the aggregate, would not reasonably be expected to
result in a Material Adverse Effect. The Borrower will maintain in effect and enforce policies and procedures designed to ensure
compliance by the Borrower, its Subsidiaries and the respective directors, officers, employees and agents of the foregoing with
Anti-Corruption Laws and applicable Sanctions.

 

    86

     

    

 

SECTION 5.11.  Use of Proceeds
and Letters of Credit. (a) The proceeds of the Revolving Loans (including any Swingline Loans) (i) on the First A&R Effective
Date, will be used to finance the Transactions and (ii) on or after the First A&R Effective Date, will be used solely for working
capital and other general corporate purposes (including Permitted Acquisitions) of the Borrower and the Subsidiaries. No part of
the proceeds of any Loan will be used in violation of the representation set forth in Section 3.10. Letters of Credit will be issued
only to support obligations of the Borrower and the Subsidiaries incurred in the ordinary course of business.

 

(b)  The
Borrower will not request any Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries
and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing or any Letter
of Credit (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything
else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating
any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country or (iii) in any manner that
would result in the violation of any Sanctions applicable to any party hereto.

 

SECTION 5.12.  Additional Subsidiaries.
(a) If any additional Subsidiary is formed or acquired (or otherwise becomes a Designated Subsidiary) after the First A&R Effective
Date, then the Borrower will, as promptly as practicable and, in any event, within 30 days (or such longer period as the Administrative
Agent may, in its sole discretion, agree) after such Subsidiary is formed or acquired (or otherwise becomes a Designated Subsidiary),
notify the Administrative Agent thereof and cause the Collateral and Guarantee Requirement to be satisfied with respect to such
Subsidiary (if it is a Designated Subsidiary) and with respect to any Equity Interest in or Indebtedness of such Subsidiary owned
by or on behalf of any Loan Party; provided that any Subsidiary that is not a Material Subsidiary shall not be required
to execute any Security Document governed by the laws of any jurisdiction other than the United States or any state thereof and
no opinion shall be required for foreign law matters with respect to such Subsidiaries.

 

(b)  The
Borrower may designate any Subsidiary, to the extent such Subsidiary is not a CFC, that meets the criteria set forth in clause
(b) of the definition of the term “Designated Subsidiary” as a Designated Subsidiary; provided that the Collateral
and Guarantee Requirement shall have been satisfied with respect to such Subsidiary as if such Subsidiary is a Person that becomes
a Designated Subsidiary after the First A&R Effective Date.

 

SECTION 5.13.  Further Assurances.
(a) The Borrower will, and will cause each Subsidiary Loan Party to, execute any and all further documents, financing statements,
agreements and instruments, and take all such further actions (including the filing and recording of financing statements, fixture
filings, mortgages, deeds of trust and other documents), that may be required under any applicable law, or that the Administrative
Agent or the Required Lenders may reasonably request, to cause the Collateral and Guarantee Requirement to be and remain satisfied,
all at the expense of the Loan Parties. The Borrower also agrees to provide to the Administrative Agent, from

 

    87

     

    

 

time to time upon request, evidence reasonably
satisfactory to the Administrative Agent as to the perfection and priority of the Liens created or intended to be created by the
Security Documents. 

 

(b)  If
any material assets (including any real property or improvements thereto or any interest therein with a fair market value in excess
of $2,500,000) are acquired by the Borrower or any Subsidiary Loan Party after the First A&R Effective Date (other than (i)
assets constituting Collateral under the Collateral Agreement that become subject to the Lien created by the Collateral Agreement
upon acquisition thereof and (ii) Excluded Assets (as defined in the Collateral Agreement)), the Borrower will notify the Administrative
Agent and the Lenders thereof, and, if requested by the Administrative Agent or the Required Lenders, the Borrower will cause such
assets to be subjected to a Lien securing the Obligations and will take, and cause the Subsidiary Loan Parties to take, such actions
as shall be necessary or reasonably requested by the Administrative Agent to grant and perfect such Liens, including actions described
in paragraph (a) of this Section, all at the expense of the Loan Parties.

 

(c)  If
any Subsidiary meets the criteria set forth in clause (e)(ii) of the definition of the term “Designated Subsidiary”,
the Borrower will use commercially reasonable efforts to obtain any governmental (including regulatory) consent, approval, license
or authorization necessary in order for such Subsidiary to provide a Guarantee of the Obligations.

 

ARTICLE VI

Negative Covenants

 

Until the Commitments shall have expired or
been terminated and the principal of and interest on each Loan and all fees, expenses and other amounts (other than contingent
amounts not yet due) payable under this Agreement or any other Loan Document have been paid in full and all Letters of Credit have
expired or been terminated and all LC Disbursements shall have been reimbursed, the Borrower covenants and agrees with the Lenders
that:

 

SECTION 6.01.  Indebtedness;
Certain Equity Securities. (a) The Borrower will not, nor will it permit any Subsidiary to, create, incur, assume or permit
to exist any Indebtedness, except:

 

(i) Indebtedness created hereunder
and under the other Loan Documents;

 

(ii) Indebtedness existing on
the First A&R Effective Date and set forth in Schedule 6.01 and any Refinancing Indebtedness in respect thereof;

 

(iii) Indebtedness of the Borrower
to any Subsidiary and of any Subsidiary to the Borrower or any other Subsidiary; provided that (A) Indebtedness of any
Subsidiary that is not a Loan Party to the Borrower or any Subsidiary Loan Party shall be subject to Section 6.04 and (B) Indebtedness
of the Borrower to any Subsidiary and Indebtedness of any Subsidiary Loan Party to any Subsidiary that

 

    88

     

    

 

is not a Subsidiary Loan
Party shall be unsecured and subordinated to the Obligations on the terms set forth in the Intercompany Indebtedness Subordination
Agreement; 

 

(iv) Guarantees by the Borrower
of Indebtedness of any Subsidiary and by any Subsidiary of Indebtedness of the Borrower or any other Subsidiary; provided
that (A) the Indebtedness so Guaranteed is permitted by this Section (other than clause (a)(ii) or (a)(vi)), (B) Guarantees
by the Borrower or any Subsidiary Loan Party of Indebtedness of any Subsidiary that is not a Loan Party shall be subject to Section 6.04
and (C) Guarantees permitted under this clause (iv) shall be subordinated to the Obligations of the applicable Subsidiary
to the same extent and on the same terms as the Indebtedness so Guaranteed is subordinated to the Obligations (if such Indebtedness
is so subordinated);

 

(v) (A) Indebtedness of the
Borrower or any Subsidiary incurred to finance the acquisition, construction or improvement of any fixed or capital assets, including
Capital Lease Obligations and any Indebtedness assumed by the Borrower or any Subsidiary in connection with the acquisition of
any such assets or secured by a Lien on any such assets prior to the acquisition thereof, so long as the Borrower will be in compliance,
on a Pro Forma Basis, with the covenants set forth in Section 6.12 and 6.13; provided that such Indebtedness is incurred
prior to or within 180 days after such acquisition or the completion of such construction or improvement and (B) Refinancing
Indebtedness in respect of Indebtedness incurred or assumed pursuant to clause (A) above;

 

(vi) (A) Indebtedness of any Person
that becomes a Subsidiary (or of any Person not previously a Subsidiary that is merged or consolidated with or into a Subsidiary
in a transaction permitted hereunder) after the First A&R Effective Date, or Indebtedness of any Person that is assumed by
any Subsidiary in connection with an acquisition of assets by such Subsidiary in a Permitted Acquisition after the First A&R
Effective Date; provided that such Indebtedness exists at the time such Person becomes a Subsidiary (or is so merged or
consolidated) or such assets are acquired and is not created in contemplation of or in connection with such Person becoming a Subsidiary
(or such merger or consolidation) or such assets being acquired, and (B) Refinancing Indebtedness in respect of Indebtedness assumed
pursuant to clause (A) above; provided further that the aggregate principal amount of Indebtedness permitted by this
clause (vi) shall not exceed $10,000,000 at any time outstanding;

 

(vii) [reserved];

 

(viii) Indebtedness owed to any
Person (including obligations in respect of letters of credit for the benefit of such Person) providing workers’ compensation,
health, disability or other employee benefits or property, casualty or liability insurance, pursuant to reimbursement or indemnification
obligations to such Person, in each case incurred in the ordinary course of business;

 

    89

     

    

 

(ix) Indebtedness of the Borrower
or any Subsidiary in respect of performance bonds, bid bonds, appeal bonds, surety bonds, performance and completion guarantees
and similar obligations (other than in respect of other Indebtedness), in each case provided in the ordinary course of business;

 

(x) Indebtedness in respect of
Hedging Agreements permitted by Section 6.07;

 

(xi) Indebtedness owed in respect
of any agreement governing the provision of treasury or cash management services, including deposit accounts, overnight draft,
credit cards, debit cards, funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, netting
services and related liabilities, in each case, in the ordinary course of business;

 

(xii) Indebtedness of the Borrower
or any Subsidiary in the form of purchase price adjustments, earn outs, non-competition agreements or other arrangements representing
acquisition consideration or deferred payments of a similar nature incurred in connection with any Permitted Acquisition or other
investment permitted under Section 6.04;

 

(xiii) Indebtedness consisting
of the financing of insurance premiums or take or pay obligations contained in supply arrangements, in each case, in the ordinary
course of business;

 

(xiv) unsecured Indebtedness of
any Loan Party in any amount; provided that (A) the Borrower is in compliance, on a Pro Forma Basis, with the financial
covenants set forth in Sections 6.12 and 6.13; (B) no such Indebtedness shall (x) have a Weighted Average Life to Maturity that
is less than 91 days longer than the Weighted Average Life to Maturity of the Revolving Loans or (y) be subject to any mandatory
redemption or prepayment provisions or rights (except customary asset sale or change of control provisions); (C) no Person shall
provide a Guarantee of such Indebtedness unless such Person also Guarantees the Obligations; (D) no Default shall have occurred
and be continuing or would result therefrom; and (E) the terms of such Indebtedness (including pricing, covenants, events of default,
remedies, redemption provisions and change of control provisions) shall be, in the good faith judgment of the Borrower, customary
market terms for Indebtedness of such type;

 

(xv) Indebtedness incurred by
any Loan Party or Subsidiary in a Permitted Acquisition, any other investment expressly permitted hereunder or any disposition,
sale or transfer, in each case to the extent constituting customary indemnification obligations;

 

(xvi) Indebtedness in respect
of letters of credit in an aggregate outstanding amount not to exceed $5,000,000 at any time; and

 

    90

     

    

 

(xvii) Indebtedness representing
deferred compensation to employees of the Loan Parties and their respective Subsidiaries incurred in the ordinary course of business.

 

(b)  The
Borrower will not, nor will it permit any Subsidiary to, issue any Disqualified Equity Interests.

 

SECTION 6.02.  Liens. (a)
The Borrower will not, nor will it permit any Subsidiary to, create, incur, assume or permit to exist any Lien on any asset now
owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect
of any thereof, except:

 

(i) Liens created under the Loan
Documents and any Liens on cash or deposits granted in favor of any Swingline Lender or any Issuing Bank to cash collateralize
any Defaulting Lender’s participation in Swingline Loans or Letters of Credit as contemplated by this Agreement;

 

(ii) Permitted Encumbrances;

 

(iii) any Lien on any asset of
the Borrower or any Subsidiary existing on the First A&R Effective Date and set forth in Schedule 6.02; provided
that (A) such Lien shall not apply to any other asset of the Borrower or any Subsidiary and (B) such Lien shall secure
only those obligations that it secures on the date hereof and extensions, renewals, replacements and refinancings thereof so long
as the principal amount of such extensions, renewals, replacements and refinancings does not exceed the principal amount of the
obligations being extended, renewed, replaced or refinanced or, in the case of any such obligations constituting Indebtedness,
that are permitted under Section 6.01(a)(ii) as Refinancing Indebtedness in respect thereof;

 

(iv) any Lien existing on any
asset prior to the acquisition thereof by the Borrower or any Subsidiary or existing on any asset of any Person that becomes a
Subsidiary (or of any Person not previously a Subsidiary that is merged or consolidated with or into a Subsidiary in a transaction
permitted hereunder) after the First A&R Effective Date and prior to the time such Person becomes a Subsidiary (or is so merged
or consolidated); provided that (A) such Lien is not created in contemplation of or in connection with such acquisition
or such Person becoming a Subsidiary (or such merger or consolidation), (B) such Lien shall not apply to any other asset of
the Borrower or any Subsidiary and (C) such Lien shall secure only those obligations that it secures on the date of such acquisition
or the date such Person becomes a Subsidiary (or is so merged or consolidated) and extensions, renewals, replacements and refinancings
thereof so long as the principal amount of such extensions, renewals and replacements does not exceed the principal amount of the
obligations being extended, renewed or replaced or, in the case of any such obligations constituting Indebtedness, that are permitted
under Section 6.01(a)(vi) as Refinancing Indebtedness in respect thereof;

 

    91

     

    

 

(v) Liens on fixed or capital
assets acquired, constructed or improved (including any such assets made the subject of a Capital Lease Obligation incurred) by
the Borrower or any Subsidiary; provided that (A) such Liens secure Indebtedness incurred to finance such acquisition,
construction or improvement that is permitted by clause (v)(A) of Section 6.01(a), or any Refinancing Indebtedness in
respect thereof that is permitted by clause (v)(B) of Section 6.01(a), and obligations relating thereto not constituting
Indebtedness, (B) such Liens and the Indebtedness secured thereby are incurred prior to or within 180 days after such
acquisition or the completion of such construction or improvement (provided that this clause (B) shall not apply to any
Refinancing Indebtedness permitted by clause (v)(B) of Section 6.01(a) or any Lien securing such Refinancing Indebtedness)
and (C) such Liens shall not apply to any other property or assets of the Borrower or any Subsidiary;

 

(vi) (i) in connection with the
sale or transfer of any Equity Interests or other assets in a transaction permitted under Section 6.05, customary rights and restrictions
contained in agreements relating to such sale or transfer pending the completion thereof or (ii) Liens arising on property or assets
subject to sales or dispositions permitted pursuant to Section 6.05 pending the consummation of such sale or disposition;

 

(vii) in the case of (A) any Subsidiary
that is not a wholly owned Subsidiary or (B) the Equity Interests in any Person that is not a Subsidiary, any encumbrance or restriction,
including any put and call arrangements, related to Equity Interests in such Subsidiary or such other Person set forth in the organizational
documents of such Subsidiary or such other Person or any related joint venture, shareholders’ or similar agreement;

 

(viii) Liens solely on any cash
earnest money deposits, escrow arrangements or similar arrangements made by the Borrower or any Subsidiary in connection with any
letter of intent or purchase agreement for a Permitted Acquisition or other transaction permitted hereunder;

 

(ix) Liens granted by a Subsidiary
that is not a Loan Party in respect of Indebtedness permitted to be incurred by such Subsidiary under Section 6.01;

 

(x) Liens on insurance policies
and the proceeds thereof granted in the ordinary course of business to secure the financing of insurance premiums with respect
thereto under Section 6.01(a)(xiii);

 

(xi) Liens not otherwise permitted
by this Section to the extent that neither (i) the aggregate outstanding principal amount of the obligations secured thereby nor
(ii) the aggregate fair market value (determined as of the date such Lien is incurred) of the assets subject thereto exceeds $7,500,000
at any time outstanding;

 

(xii) [reserved];

 

    92

     

    

 

(xiii) purported Liens evidenced
by the filing of precautionary UCC financing statements or similar precautionary public filings;

 

(xiv) ground leases in respect
of real property on which facilities owned or leased by any Loan Party or any Subsidiary are located;

 

(xv) deposits of cash with the
owner or lessor of premises leased and operated by any Loan Party or any Subsidiary in the ordinary course of business of such
Loan Party or such Subsidiary to secure the performance of such Loan Party’s or such Subsidiary’s obligations under
the terms of the lease for such premises in an aggregate amount not exceeding $3,000,000 at any time outstanding; and

 

(xvi) Liens in favor of customs
and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods
in the ordinary course of business.

 

SECTION 6.03.  Fundamental Changes.
(a) The Borrower will not, nor will it permit any Subsidiary to, merge into or consolidate with any other Person, or permit any
other Person to merge into or consolidate with it, or liquidate or dissolve, except that, if at the time thereof and immediately
after giving effect thereto no Default shall have occurred and be continuing (i) any Person may merge into or consolidate
with the Borrower in a transaction in which the Borrower is the surviving entity, (ii) any Person (other than the Borrower)
may merge into or consolidate with any Subsidiary in a transaction in which the surviving entity is a Subsidiary and, if any party
to such merger or consolidation is a Subsidiary Loan Party, is a Subsidiary Loan Party, (iii) any Subsidiary may merge into or
consolidate with any Person (other than the Borrower) in a transaction permitted under Section 6.05 in which, after giving effect
to such transaction, the surviving entity is not a Subsidiary and (iv) any Subsidiary may liquidate or dissolve if in connection
with such liquidation or dissolution, substantially all the assets of such Subsidiary are transferred to a Loan Party (to the extent
such Subsidiary being liquidated or dissolved is a Subsidiary Loan Party); provided that any such merger or consolidation
involving a Person that is not a wholly owned Subsidiary immediately prior to such merger or consolidation shall not be permitted
unless it is also permitted by Section 6.04.

 

(b)  The
Borrower will not, and the Borrower will not permit any Subsidiary to, engage to any material extent in any business other than
businesses of the type conducted by the Borrower and the Subsidiaries on the date hereof and businesses reasonably related or complementary
thereto.

 

SECTION 6.04.  Investments, Loans,
Advances, Guarantees and Acquisitions. The Borrower will not, nor will it permit any Subsidiary to, purchase, hold or acquire
(including pursuant to any merger or consolidation with any Person that was not a wholly owned Subsidiary prior to such merger
or consolidation) any Equity Interests in or evidences of Indebtedness or other securities (including any option, warrant or other
right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of, or make
or permit to exist any

 

    93

     

    

 

investment or any other interest in, any other
Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting
a business unit, except: 

 

(a)  Permitted
Investments;

 

(b)  Permitted
Acquisitions;

 

(c)  (i)
investments existing on the First A&R Effective Date in the Subsidiaries and (ii) other investments existing on the First
A&R Effective Date and set forth on Schedule 6.04;

 

(d)  investments
by the Borrower and the Subsidiaries in Equity Interests of their respective Subsidiaries; provided that (i) such Subsidiaries
are Subsidiaries prior to any such investments and any such Equity Interests held by a Loan Party shall be pledged in accordance
with the requirements of the definition of the term “Collateral and Guarantee Requirement”, (ii) the aggregate
amount of such investments made by Loan Parties in Subsidiaries that are not Loan Parties (excluding all such investments existing
on the First A&R Effective Date and permitted by clause (c) above) (together with outstanding intercompany loans permitted
under subclause (ii) of the proviso to clause (e) of this Section and outstanding Guarantees permitted under the proviso to
clause (f) of this Section) shall not exceed $12,500,000 at any time outstanding (in each case determined without regard to
any write-downs or write-offs) and (iii) in the case of any investment made by a Loan Party in a Subsidiary that is not a Loan
Party, at the time any such investment is made no Default or Event of Default shall have occurred and be continuing or result therefrom;

 

(e)  loans
or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; provided
that (i) any such loans and advances made by a Loan Party shall be evidenced by a promissory note pledged pursuant to the
Collateral Agreement, (ii) the amount of such loans and advances made by Loan Parties to Subsidiaries that are not Loan Parties
(together with investments permitted under subclause (ii) of the proviso to clause (d) of this Section and outstanding
Guarantees permitted under the proviso to clause (f) of this Section) shall not exceed $12,500,000 at any time outstanding
(in each case determined without regard to any write-downs or write-offs) and (iii) in the case of any loan or advance made by
a Loan Party to a Subsidiary that is not a Loan Party, at the time any such loan or advance is made no Default or Event of Default
shall have occurred and be continuing or result therefrom;

 

(f)  Guarantees
of Indebtedness that is permitted under Section 6.01 of the Borrower or any Subsidiary (including any such Guarantees arising as
a result of any such Person being a joint and several co-applicant with respect to any letter of credit or letter of guaranty);
provided that (i) the aggregate principal amount of Indebtedness of Subsidiaries that are not Loan Parties that is Guaranteed
by any Loan Party (together with investments permitted under subclause (ii) of the

 

    94

     

    

 

proviso to clause (d) of this
Section and intercompany loans permitted under subclause (ii) to the proviso to clause (e) of this Section) shall not exceed
$12,500,000 at any time outstanding (in each case determined without regard to any write-downs or write-offs) and (ii) in the
case of any Guarantee made by a Loan Party of Indebtedness owing by a Subsidiary that is not a Loan Party, at the time any such
Guarantee is made no Default or Event of Default shall have occurred and be continuing or result therefrom; 

 

(g)  loans
or advances to employees of the Borrower or any Subsidiary made in the ordinary course of business of the Borrower or such Subsidiary,
as applicable, not exceeding $1,000,000 in the aggregate outstanding at any time (determined without regard to any write-downs
or write-offs of such loans or advances);

 

(h)  payroll,
travel, entertainment, relocation and similar advances to cover matters that are expected at the time of such advances ultimately
to be treated as expenses of the Borrower or any Subsidiary for accounting purposes and that are made in the ordinary course of
business;

 

(i)  investments
received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with, customers
and suppliers, in each case in the ordinary course of business;

 

(j)  investments
in the form of Hedging Agreements permitted by Section 6.07;

 

(k)  investments
of any Person existing at the time such Person becomes a Subsidiary or consolidates or merges with the Borrower or any Subsidiary
so long as such investments were not made in contemplation of such Person becoming a Subsidiary or of such consolidation or merger;

 

(l)  investments
resulting from pledges or deposits described in clause (c) or (d) of the definition of the term “Permitted Encumbrance”;

 

(m)  investments
made as a result of the receipt of noncash consideration from a sale, transfer, lease or other disposition of any asset in compliance
with Section 6.05;

 

(n)  investments
that result solely from the receipt by the Borrower or any Subsidiary from any of its subsidiaries of a dividend or other Restricted
Payment in the form of Equity Interests, evidences of Indebtedness or other securities (but not any additions thereto made after
the date of the receipt thereof);

 

(o)  receivables
or other trade payables owing to the Borrower or a Subsidiary if created or acquired in the ordinary course of business and payable
or dischargeable in accordance with customary trade terms; provided that such trade terms may include such concessionary
trade terms as the Borrower or any Subsidiary deems reasonable under the circumstances;

 

    95

     

    

 

(p)  mergers
and consolidations permitted under Section 6.03 that do not involve any Person other than the Borrower and Subsidiaries that are
wholly owned Subsidiaries; and

 

(q)  other
investments, loans and advances by the Borrower or any Subsidiary in an aggregate amount, as valued at cost at the time each such
investment, loan or advance is made and including all related commitments for future investments, loans or advances (and the principal
amount of any Indebtedness that is assumed or otherwise incurred in connection with such investment, loan or advance), not exceeding
$8,000,000 in the aggregate for all such investments made or committed to be made from and after the First A&R Effective Date
plus an amount equal to any returns of capital or sale proceeds actually received in cash in respect of any such investments (which
amount shall not exceed the amount of such investment valued at cost at the time such investment was made).

 

SECTION 6.05.  Asset Sales.
The Borrower will not, nor will it permit any Subsidiary to, sell, transfer, lease or otherwise dispose of any asset, including
any Equity Interest owned by it, nor will the Borrower permit any Subsidiary to issue any additional Equity Interest in such Subsidiary
(other than issuing Equity Interests to the Borrower or another Subsidiary in compliance with Section 6.04(d) and other than issuing
directors’ qualifying shares and other nominal amounts of Equity Interests that are required to be held by other Persons
under applicable law), except:

 

(a)  sales,
transfers, leases and other dispositions of (i) inventory, (ii) used, surplus, obsolete or outmoded machinery or equipment,
and (iii) cash and Permitted Investments, in each case in the ordinary course of business;

 

(b)  sales,
transfers, leases and other dispositions to the Borrower or a Subsidiary; provided that any such sales, transfers, leases
or other dispositions involving a Subsidiary that is not a Loan Party shall be made in compliance with Sections 6.04 and 6.09;

 

(c)  sales,
transfers and other dispositions of accounts receivable in connection with the compromise, settlement or collection thereof in
the ordinary course of business consistent with past practice and not as part of any accounts receivables financing transaction;

 

(d)  sales,
transfers, leases and other dispositions of assets to the extent that such assets constitute an investment permitted by clause (i),
(k) or (m) of Section 6.04 or another asset received as consideration for the disposition of any asset permitted by this Section
(in each case, other than Equity Interests in a Subsidiary, unless all Equity Interests in such Subsidiary (other than directors’
qualifying shares) are sold);

 

(e)  sale
and leaseback transactions permitted by Section 6.06;

 

    96

     

    

 

(f)  leases
or subleases entered into in the ordinary course of business, to the extent that they do not materially interfere with the business
of the Borrower or any Subsidiary;

 

(g)  the
elimination or forgiving of intercompany balances in connection with intercompany restructurings (including dissolutions, liquidations
and mergers) between or among the Borrower and the Subsidiary Loan Parties;

 

(h)  the
sale, transfer or other disposition of patents, trademarks, copyrights and other intellectual property (i) in the ordinary course
of business, including pursuant to non-exclusive licenses of intellectual property, to the extent that they do not materially interfere
with the business of the Borrower or any Subsidiary or (ii) which, in the reasonable judgment of the Borrower or any Subsidiary,
are determined to be uneconomical, negligible or obsolete in the conduct of business;

 

(i)  dispositions
resulting from any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar
proceeding of, any asset of any of the Borrower or any Subsidiary;

 

(j)  dispositions
of assets to the extent that (i) such assets are exchanged for credit against the purchase price of similar replacement assets
or (ii) the proceeds of such disposition are promptly applied to the purchase price of such replacement assets;

 

(k)  direct
or indirect transfers or other dispositions by any Subsidiary of any foreign assets or the Equity Interests of a Foreign Subsidiary
to any other Subsidiary Loan Party in connection with the consolidation of foreign operations of the Borrower and its Subsidiaries;
and

 

(l)  sales,
transfers, leases and other dispositions of assets (other than Equity Interests in a Subsidiary unless all Equity Interests in
such Subsidiary (other than directors’ qualifying shares) are sold) that are not permitted by any other clause of this Section;
provided that the aggregate fair value of all assets sold, transferred, leased or otherwise disposed of in reliance upon
this clause (l) shall not exceed $12,500,000 during any fiscal year of the Borrower;

 

provided that all sales, transfers, leases and other
dispositions permitted hereby (other than those permitted by clause (b)) shall be made for fair value and (other than those
permitted by clause (b), (d), (h) or (i)) for at least 75% cash consideration payable at the time of such sale, transfer or
other disposition.

 

SECTION 6.06.  Sale and Leaseback
Transactions. The Borrower will not, nor will it permit any Subsidiary to, enter into any arrangement, directly or indirectly,
whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter
acquired, and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose
or purposes as the property sold or transferred, except for any such sale of any fixed or

 

    97

     

    

 

capital assets by the Borrower or any
Subsidiary that is made for cash consideration in an amount not less than the fair value of such fixed or capital asset and is
consummated within 180 days after the Borrower or such Subsidiary acquires or completes the construction of such fixed or capital
asset; provided that, if such sale and leaseback results in a Capital Lease Obligation, such Capital Lease Obligation is
permitted by Section 6.01(a)(v) and any Lien made the subject of such Capital Lease Obligation is permitted by Section 6.02(a)(v).

 

 

SECTION 6.07.  Hedging Agreements.
The Borrower will not, nor will it permit any Subsidiary to, enter into any Hedging Agreement, except Hedging Agreements entered
into in the ordinary course of business to hedge or mitigate risks to which the Borrower or a Subsidiary is actually exposed in
the conduct of its business or the management of its liabilities and not for speculative purposes.

 

SECTION 6.08.  Restricted Payments;
Certain Payments of Indebtedness. (a) The Borrower will not, nor will it permit any Subsidiary to, declare or make, or agree
to pay or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except
that:

 

(i) any Subsidiary may declare
and pay dividends or make other distributions with respect to its Equity Interests, or make other Restricted Payments in respect
of its Equity Interests, in each case ratably to the holders of such Equity Interests (or, if not ratably, on a basis more favorable
to the Borrower and the Subsidiaries);

 

(ii) the Borrower may declare
and pay dividends with respect to its Equity Interests payable solely in shares of Qualified Equity Interests;

 

(iii) the Borrower may make Restricted
Payments, not exceeding $2,000,000 during any fiscal year, pursuant to and in accordance with stock option plans or other equity
or benefit plans for directors, officers or employees of the Borrower and the Subsidiaries;

 

(iv) the Borrower may make cash
payments in lieu of the issuance of fractional shares representing insignificant interests in the Borrower in connection with the
exercise of warrants, options or other securities convertible into or exchangeable for Equity Interests in the Borrower;

 

(v) the Borrower may repurchase
Equity Interests upon the exercise of stock options, deferred stock units and restricted shares if such Equity Interests represent
a portion of the exercise price of such stock options, deferred stock units or restricted shares;

 

(vi) concurrently with any issuance
of Qualified Equity Interests, the Borrower may redeem, purchase or retire any Equity Interests of the Borrower using the proceeds
of, or convert or exchange any Equity Interests of the Borrower for, such Qualified Equity Interests;

 

    98

     

    

 

(vii) the Borrower may make any
Restricted Payments so long as (A) no Default or Event of Default has occurred and is continuing or would result therefrom, (B)
after giving effect to such Restricted Payment, the Borrower will be in compliance, on a Pro Forma Basis, with the financial covenants
set forth in Sections 6.12 and 6.13(a) and (C) the Secured Leverage Ratio is no greater than 3.25:1.00, calculated on a Pro Forma
Basis after giving effect to such Restricted Payment; and

 

(viii) the Borrower may declare
and pay ordinary quarterly cash dividends with respect to the issued and outstanding shares of its common stock (other than shares
held in treasury) in an aggregate amount per share not to exceed, in any fiscal quarter of the Borrower, $0.12 per share (the “Per
Share Cap”), so long as, after giving effect to any such dividend, the Borrower will be in compliance, on a Pro Forma
Basis, with the financial covenants set forth in Section 6.12 and Section 6.13 (as of the last day of the then most recently completed
fiscal quarter of the Borrower for which financial statements were required to have been delivered pursuant to Section 5.01(a)
or 5.01(b)); provided that if, at any time after the First A&R Effective Date, any change in the outstanding shares
of the Borrower’s common stock shall occur as a result of any stock split, reverse stock split, stock dividend, recapitalization,
reclassification, combination, exchange of shares or other similar event, the Per Share Cap set forth above shall be equitably
adjusted by the Administrative Agent and the Borrower to give effect to the foregoing and to permit the Borrower to declare and
pay ordinary quarterly cash dividends in an aggregate dollar amount that is substantially identical to the aggregate dollar amount
that was permitted under this clause (viii) immediately prior to the transaction giving rise to the adjustment of the Per Share
Cap.

 

(b)  The
Borrower will not, nor will it permit any Subsidiary to, make or agree to pay or make, directly or indirectly, any payment or other
distribution (whether in cash, securities or other property) of or in respect of principal of or interest on any Indebtedness that
is unsecured, subordinated in right of payment to the Obligations, and/or secured on a junior priority basis relative to the Obligations
by some or all of the Collateral, or any payment or other distribution (whether in cash, securities or other property), including
any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancelation or termination
of any such Indebtedness, or any other payment (including any payment under any Hedging Agreement) that has a substantially similar
effect to any of the foregoing, except:

 

(i) payments of Indebtedness created
under this Agreement or any other Loan Document;

 

(ii) regularly scheduled interest
and principal payments, as and when due in respect of any Indebtedness;

 

(iii) refinancings of Indebtedness
with the proceeds of other Indebtedness permitted under Section 6.01;

 

    99

     

    

 

(iv) payments of Indebtedness
that becomes due as a result of (A) the voluntary sale or transfer of assets or (B) any casualty or condemnation proceeding
(including a disposition in lieu thereof) of any assets, subject, in each case, to prior compliance with the mandatory prepayment
provision in Section 2.10(c);

 

(v) payments of or in respect
of Indebtedness made solely with Equity Interests in the Borrower (other than Disqualified Equity Interests); and

 

(vi) payments of or in respect
of Indebtedness incurred by any Subsidiary that is not a Loan Party.

 

SECTION 6.09.  Transactions with
Affiliates. The Borrower will not, nor will it permit any Subsidiary to, sell, lease or otherwise transfer any assets to, or
purchase, lease or otherwise acquire any assets from, or otherwise engage in any other transactions with, any of its Affiliates
(each of the foregoing, an “Affiliate Transaction”), if such Affiliate Transaction or any series of related
Affiliate Transactions involves aggregate consideration or value in excess of $3,500,000, except (i) transactions in the ordinary
course of business that are at prices and on terms and conditions not less favorable to the Borrower or such Subsidiary than those
that would prevail in an arm’s-length transaction with unrelated third parties, (ii) transactions between or among the
Borrower and the Subsidiary Loan Parties not involving any other Affiliate, (iii) loans or advances to employees permitted
under Section 6.04(g), (iv) payroll, travel and similar advances to cover matters permitted under Section 6.04(h), (v) the
payment of reasonable fees to directors of the Borrower or any Subsidiary who are not employees of the Borrower or any Subsidiary,
and compensation and employee benefit arrangements paid to, and indemnities provided for the benefit of, directors, officers or
employees of the Borrower or the Subsidiaries in the ordinary course of business, (vi) any issuances of securities or other
payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment agreements, stock options
and stock ownership plans, (vii) employment and severance arrangements entered into in the ordinary course of business between
the Borrower or any Subsidiary and any employee thereof and approved by the Borrower’s board of directors, and (viii) any
Restricted Payment permitted by Section 6.08.

 

SECTION 6.10.  Restrictive Agreements.
The Borrower will not, nor will it permit any Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement
or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any Subsidiary
to create, incur or permit to exist any Lien upon any of its assets to secure the Obligations or (b) the ability of any Subsidiary
to pay dividends or other distributions with respect to any of its Equity Interests or to make or repay loans or advances to the
Borrower or any other Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary; provided that (i) the
foregoing shall not apply to (A) restrictions and conditions imposed by law or by this Agreement or any other Loan Document, (B)
in the case of any Subsidiary that is not a wholly owned Subsidiary, restrictions and conditions imposed by its organizational
documents or any related joint venture or similar agreements; provided that such restrictions and conditions

 

    100

     

    

 

apply only
to such Subsidiary and to the Equity Interests of such Subsidiary, (C) customary restrictions and conditions contained in
agreements relating to the sale of a Subsidiary or any assets of the Borrower or any Subsidiary, in each case pending such sale;
provided that such restrictions and conditions apply only to such Subsidiary or the assets that are to be sold and, in each
case, such sale is permitted hereunder, and (D) restrictions and conditions existing on the date hereof and identified on
Schedule 6.10 (or any extension or renewal of, or any amendment, modification or replacement not expanding the scope of,
any such restriction or condition); (ii) clause (a) of the foregoing shall not apply to (A) restrictions and conditions imposed
by any agreement relating to secured Indebtedness permitted by clause (v) or (vi) of Section 6.01(a) if such restrictions and conditions
apply only to the assets securing such Indebtedness and (B) customary provisions in leases and other agreements restricting
the assignment thereof; and (iii) clause (b) of the foregoing shall not apply to restrictions and conditions imposed by any
agreement relating to Indebtedness of any Subsidiary in existence at the time such Subsidiary became a Subsidiary and otherwise
permitted by clause (vi) of Section 6.01(a) if such restrictions and conditions apply only to such Subsidiary.

 

SECTION 6.11.  Amendment of Material
Documents. The Borrower will not, nor will it permit any Subsidiary to, amend, modify, waive, terminate or release (a) its
certificate of incorporation, bylaws or other organizational documents or (b) any agreement or instrument governing or evidencing
any Material Indebtedness, in each case if the effect of such amendment, modification, waiver, termination or release would be
adverse in any material respect to the Borrower, any Subsidiary or to the Lenders.

 

SECTION 6.12.  Interest Expense
Coverage Ratio. The Borrower will not permit the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in
each case for any period of four consecutive fiscal quarters of the Borrower ending on the last day of any fiscal quarter of the
Borrower, commencing with the fiscal quarter ending October 31, 2018, to be less than 3.25 to 1.00.

 

SECTION 6.13.  Leverage Ratio;
Secured Leverage Ratio. (a) The Borrower will not permit the Leverage Ratio, calculated as of the last day of each fiscal quarter
of the Borrower, commencing with the fiscal quarter ending October 31, 2018, to exceed 4.50:1.00.

 

(b)  The
Borrower will not permit the Secured Leverage Ratio, calculated as of the last day of each fiscal quarter of the Borrower, commencing
with the fiscal quarter ending October 31, 2018, that ends after the First A&R Effective Date, to exceed 3.75:1.00.

 

SECTION 6.14.  Changes in Fiscal
Periods. The Borrower will neither (a) permit its fiscal year or the fiscal year of any Subsidiary to end on a day other
than July 31, nor (b) change its method of determining fiscal quarters.

 

    101

     

    

 

ARTICLE VII

Events of Default

 

If any of the following events (each such
event, an “Event of Default”) shall occur:

 

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

 

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

 

(c)  any
representation, warranty or certification made or deemed made by or on behalf of the Borrower or any Subsidiary in or in connection
with this Agreement or any other Loan Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder,
or in any report, certificate, financial statement or other document furnished pursuant to or in connection with this Agreement
or any other Loan Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder, shall prove to
have been incorrect in any material respect when made or deemed made;

 

(d)  The
Borrower shall fail to observe or perform any covenant, condition or agreement contained in Section 5.02, 5.04 (with respect
to the existence of the Borrower) or 5.11 or in Article VI;

 

(e)  any
Loan Party shall fail to observe or perform any covenant, condition or agreement contained in this Agreement or any other Loan
Document (other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied
for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of a Loan Party becomes aware
of such failure and (y) receipt of written notice thereof from the Administrative Agent to the Borrower;

 

(f)  The
Borrower or any Subsidiary shall fail to make any payment (whether of principal, interest, premium or otherwise and regardless
of amount) in respect of any Material Indebtedness (other than the Loan Document Obligations), when and as the same shall become
due and payable (after giving effect to any applicable grace period in respect of such failure under the documentation representing
such Material Indebtedness); 

 

(g)  any
event or condition occurs that results in any Material Indebtedness becoming due or being terminated or required to be prepaid,
repurchased,

 

    102

     

    

 

redeemed or defeased prior to its scheduled maturity or that enables or permits (with all applicable grace periods
in respect of such event or condition under the documentation representing such Material Indebtedness having expired) the holder
or holders of any Material Indebtedness or any trustee or agent on its or their behalf, or, in the case of any Hedging Agreement
the applicable counterparty, to cause any Material Indebtedness to become due, or to terminate or require the prepayment, repurchase,
redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) shall not apply to
(i) any secured Indebtedness that becomes due as a result of the voluntary sale, transfer or other disposition of the assets securing
such Indebtedness (to the extent such sale, transfer or other disposition is not prohibited under this Agreement) or (ii) any Indebtedness
that becomes due as a result of a voluntary refinancing thereof permitted under Section 6.01;

 

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

 

(i)  the
Borrower or any Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation (other than
any liquidation permitted under Section 6.03(a)(iv)), reorganization or other relief under any Federal, State or foreign bankruptcy,
insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest
in a timely and appropriate manner, any proceeding or petition described in clause (h) of this Article, (iii) apply for
or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower
or any Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition
filed against it in any such proceeding or (v) make a general assignment for the benefit of creditors, or the board of directors
(or similar governing body) of the Borrower or any Subsidiary (or any committee thereof) shall adopt any resolution or otherwise
authorize any action to approve any of the actions referred to above in this clause (i) or in clause (h) of this Article;

 

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

 

(k)  one
or more judgments for the payment of money in an aggregate amount in excess of $12,500,000 (other than any such judgment covered
by insurance (other than under a self-insurance program) to the extent a claim therefor has been made in writing to a financially
sound insurer and liability

 

    103

     

    

 

therefor has not been denied by the
insurer) shall be rendered against the Borrower, any Subsidiary or any combination thereof and the same shall remain undischarged
for a period of 30 consecutive days during which execution shall not be effectively stayed, or any action shall be legally
taken by a judgment creditor to attach or levy upon any assets of the Borrower or any Subsidiary to enforce any such judgment; 

 

(l)  one
or more judgments for injunctive relief shall be rendered against the Borrower, any Subsidiary or any combination thereof that,
in the opinion of the Administrative Agent, would, individually or in the aggregate, reasonably be expected to result in a Material
Adverse Effect;

 

(m)  an
ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together with all other ERISA Events that
have occurred, would reasonably be expected to result in liability of the Borrower and the Subsidiaries in an aggregate amount
exceeding $10,000,000;

 

(n)  any
Lien purported to be created under any Security Document shall cease to be, or shall be asserted by any Loan Party not to be, a
valid and perfected Lien on any material portion of the Collateral, with the priority required by the applicable Security Document,
except as a result of (i) the sale or other disposition of the applicable Collateral in a transaction permitted under the
Loan Documents, (ii) the release thereof as provided in Section 9.14 or (iii) the Administrative Agent’s failure to (A) maintain
possession of any stock or other equity certificate, promissory note or other instrument delivered to it under the Collateral Agreement
or (B) file Uniform Commercial Code continuation statements;

 

(o)  any
Guarantee purported to be created under any Loan Document shall cease to be, or shall be asserted by any Loan Party not to be,
in full force and effect, except as a result of the release thereof as provided in the applicable Loan Document or Section 9.14;
or

 

(p)  a
Change in Control shall occur;

 

then, and in every such event (other than an event with respect
to the Borrower described in clause (h) or (i) of this Article), and at any time thereafter during the continuance of such
event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take any or all
of the following actions, at the same or different times:  (i) terminate the Commitments, and thereupon the Commitments
shall terminate immediately, (ii) declare the Loans then outstanding to be due and payable in whole (or in part (but ratably
as among the Loans at such time outstanding), in which case any principal not so declared to be due and payable may thereafter
be declared to be due and payable), and thereupon, the principal of the Loans so declared to be due and payable, together with
accrued interest thereon and all fees and other obligations of the Borrower hereunder, shall become due and payable immediately
and (iii) require the deposit of cash collateral in respect of LC Exposure as provided in Section 2.04(i), in

 

    104

     

    

 

each case without
presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in the case of any
event with respect to the Borrower described in clause (h) or (i) of this Article, the Commitments shall automatically terminate
and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the
Borrower hereunder, shall immediately and automatically become due and payable and the deposit of such cash collateral in respect
of LC Exposure shall immediately and automatically become due, in each case, without presentment, demand, protest or other notice
of any kind, all of which are hereby waived by the Borrower.

 

 

ARTICLE VIII

The Administrative Agent

 

Each of the Lenders and the Issuing Banks
hereby irrevocably appoints the entity named as Administrative Agent in the heading of this Agreement and its successors to serve
as administrative agent and collateral agent under the Loan Documents and authorizes the Administrative Agent to take such actions
and to exercise such powers as are delegated to the Administrative Agent by the terms of the Loan Documents, together with such
actions and powers as are reasonably incidental thereto. In addition, to the extent required under the laws of any jurisdiction
other than the United States of America, each of the Lenders and the Issuing Banks hereby grants to the Administrative Agent any
required powers of attorney to execute any Security Document governed by the laws of such jurisdiction on such Lender’s or
such Issuing Bank’s behalf. It is understood and agreed that the use of the term “agent” (or any similar term)
herein or in any other Loan Document with reference to the Administrative Agent is not intended to connote any fiduciary duty or
other implied (or express) obligations arising under agency doctrine of any applicable law. Instead, such term is used as a matter
of market custom and is intended to create or reflect only an administrative relationship between contracting parties.

 

The Person serving as the Administrative
Agent hereunder shall have the same rights and powers in its capacity as a Lender or an Issuing Bank as any other Lender or Issuing
Bank and may exercise the same as though it were not the Administrative Agent, and such Person and its Affiliates may accept deposits
from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage
in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative
Agent hereunder and without any duty to account therefor to the Lenders or the Issuing Banks. 

 

The Administrative Agent shall not have any
duties or obligations except those expressly set forth in the Loan Documents, and its duties hereunder shall be administrative
in nature. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary
or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall
not have any duty to take any discretionary action or to exercise any discretionary power, except discretionary rights and powers
expressly contemplated by

 

    105

     

    

 

the Loan Documents that the Administrative Agent is required to exercise as directed in writing by the
Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall
believe in good faith to be necessary, under the circumstances as provided in the Loan Documents); provided that the Administrative
Agent shall not be required to take any action that, in its opinion, could expose the Administrative Agent to liability or be contrary
to this Agreement or any other Loan Document or applicable law, and (c) except as expressly set forth in the Loan Documents,
the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information
relating to the Borrower, any Subsidiary or any other Affiliate of any of the foregoing that is communicated to or obtained by
the Person serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable
for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage
of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith to be necessary, under the circumstances
as provided in the Loan Documents) or in the absence of its own bad faith, gross negligence or willful misconduct (such absence
to be presumed unless otherwise determined by a court of competent jurisdiction by a final and nonappealable judgment). The Administrative
Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof (stating that it is a “notice
of default”) is given to the Administrative Agent by the Borrower, a Lender or an Issuing Bank, and the Administrative Agent
shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made
in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other
document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of
any of the covenants, agreements or other terms or conditions set forth in this Agreement or any other Loan Document or the occurrence
of any Default, (iv) the sufficiency, validity, enforceability, effectiveness or genuineness of this Agreement or any other
Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article IV
or elsewhere in this Agreement or any other Loan Document, other than to confirm receipt of items expressly required to be delivered
to the Administrative Agent or satisfaction of any condition that expressly refers to the matters described therein being acceptable
or satisfactory to the Administrative Agent.

 

The Administrative Agent shall be entitled
to rely, and shall not incur any liability for relying, upon any notice, request, certificate, consent, statement, instrument,
document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed
by it to be genuine and to have been signed or sent or otherwise authenticated by the proper Person (whether or not such Person
in fact meets the requirements set forth in the Loan Documents for being the signatory, sender or authenticator thereof). The Administrative
Agent also shall be entitled to rely, and shall not incur any liability for relying, upon any statement made to it orally or by
telephone and believed by it to be made by the proper Person (whether or not such Person in fact meets the requirements set forth
in the Loan Documents for being the signatory, sender or authenticator thereof), and may act upon any such statement prior to receipt
of written confirmation thereof. In determining compliance with any condition hereunder to the

 

    106

     

    

 

making of a Loan, or the issuance, extension,
renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or an Issuing Bank,
the Administrative Agent may presume that such condition is satisfactory to such Lender or such Issuing Bank unless the Administrative
Agent shall have received notice to the contrary from such Lender or such Issuing Bank prior to the making of such Loan or the
issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower),
independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance
with the advice of any such counsel, accountants or experts. 

 

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

 

Subject to the terms of this paragraph, the
Administrative Agent may resign at any time from its capacity as such. In connection with such resignation, the Administrative
Agent shall give notice of its intent to resign to the Lenders, the Issuing Banks and the Borrower. Upon receipt of any such notice
of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor that is an
Eligible Successor Agent. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment
within 30 days after the retiring Administrative Agent gives notice of its intent to resign, then the retiring Administrative
Agent may, in consultation with the Borrower, on behalf of the Lenders and the Issuing Banks, appoint a successor that is an Eligible
Successor Agent, until such time, if any, as the Required Lenders appoint a successor Administrative Agent. Upon the acceptance
of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all
the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be
discharged from its duties and obligations hereunder and under the other Loan Documents. The fees payable by the Borrower to a
successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed by the Borrower and
such successor. Notwithstanding the foregoing, in the event no successor Administrative Agent shall have been so appointed and
shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its intent to
resign, the retiring Administrative Agent may give notice of the effectiveness of its resignation to the Lenders, the Issuing Banks
and the Borrower, whereupon, on the date of effectiveness of such resignation stated in such notice, (a) the retiring

 

    107

     

    

 

Administrative
Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents; provided that, solely
for purposes of maintaining any security interest granted to the Administrative Agent under any Security Document for the benefit
of the Secured Parties, the retiring Administrative Agent shall continue to be vested with such security interest as collateral
agent for the benefit of the Secured Parties and, in the case of any Collateral in the possession of the Administrative Agent,
shall continue to hold such Collateral, in each case until such time as a successor Administrative Agent is appointed and accepts
such appointment in accordance with this paragraph (it being understood and agreed that the retiring Administrative Agent shall
have no duty or obligation to take any further action under any Security Document, including any action required to maintain the
perfection of any such security interest), and (b) the Required Lenders shall succeed to and become vested with all the rights,
powers, privileges and duties of the retiring Administrative Agent; provided that (i) all payments required to be made hereunder
or under any other Loan Document to the Administrative Agent for the account of any Person other than the Administrative Agent
shall be made directly to such Person and (ii) all notices and other communications required or contemplated to be given or made
to the Administrative Agent shall also directly be given or made to each Lender and each Issuing Bank. Following the effectiveness
of the Administrative Agent’s resignation from its capacity as such, the provisions of this Article and Section 9.03,
as well as any exculpatory, reimbursement and indemnification provisions set forth in any other Loan Document, shall continue in
effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of
any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent and in respect of the matters
referred to in the proviso under clause (a) above.

 

 

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

 

Each Lender, by delivering its signature page
to the First Amendment and Restatement Agreement on the First A&R Effective Date, or delivering its signature page to an Assignment
and Assumption or any other Loan Document pursuant to which it shall become a Lender hereunder, shall be deemed to have acknowledged
receipt of, and consented to and approved, this Agreement and each other Loan Document and each other document required to be delivered
to, or be approved by or satisfactory to, the Administrative Agent or the Lenders on the First A&R Effective Date.

 

    108

     

    

 

Except with respect to the exercise of setoff
rights of any Lender in accordance with Section 9.08 or with respect to a Lender’s right to file a proof of claim in an insolvency
proceeding, no Secured Party shall have any right individually to realize upon any of the Collateral or to enforce any Guarantee
of the Obligations, it being understood and agreed that all powers, rights and remedies under the Loan Documents may be exercised
solely by the Administrative Agent on behalf of the Secured Parties in accordance with the terms thereof. In the event of a foreclosure
by the Administrative Agent on any of the Collateral pursuant to a public or private sale or other disposition, the Administrative
Agent or any Lender may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition, and
the Administrative Agent, as agent for and representative of the Secured Parties (but not any Lender or Lenders in its or their
respective individual capacities unless the Required Lenders shall otherwise agree in writing) shall be entitled, for the purpose
of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public
sale, to use and apply any of the Loan Document Obligations as a credit on account of the purchase price for any collateral payable
by the Administrative Agent on behalf of the Secured Parties at such sale or other disposition.

 

In furtherance of the foregoing and not in
limitation thereof, no Hedging Agreement the obligations under which constitute Secured Hedging Obligations will create (or be
deemed to create) in favor of any Secured Party that is a party thereto any rights in connection with the management or release
of any Collateral or of the obligations of any Loan Party under this Agreement or any other Loan Document. By accepting the benefits
of the Collateral, each Secured Party that is a party to any such Hedging Agreement shall be deemed to have appointed the Administrative
Agent to serve as administrative agent and collateral agent under the Loan Documents and agreed to be bound by the Loan Documents
as a Secured Party thereunder, subject to the limitations set forth in this paragraph.

 

The Secured Parties irrevocably authorize
the Administrative Agent, at its option and in its discretion, to subordinate any Lien on any property granted to or held by the
Administrative Agent under any Loan Document to the holder of any Lien on such property that is permitted by Section 6.02(a)(v).
The Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty
regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative
Agent’s Lien thereon or any certificate prepared by any Loan Party in connection therewith, nor shall the Administrative
Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.

 

In case of the pendency of any proceeding
with respect to any Loan Party under any Federal, State or foreign bankruptcy, insolvency, receivership or similar law now or hereafter
in effect, the Administrative Agent (irrespective of whether the principal of any Loan or any LC Disbursement shall then be due
and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have
made any demand on the Borrower) shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise:

 

    109

     

    

 

(a) to file and prove a claim
for the whole amount of the principal and interest owing and unpaid in respect of the Loans, LC Exposure and all other Obligations
that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the
Lenders, the Issuing Banks and the Administrative Agent (including any claim under Sections 2.11, 2.12, 2.14, 2.15, 2.16 and 9.03)
allowed in such judicial proceeding; and

 

(b) to collect and receive any
monies or other property payable or deliverable on any such claims and to distribute the same;

 

and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such proceeding is hereby authorized by each Lender, each Issuing Bank
and each other Secured Party to make such payments to the Administrative Agent and, in the event that the Administrative Agent
shall consent to the making of such payments directly to the Lenders, the Issuing Banks or the other Secured Parties, to pay to
the Administrative Agent any amount due to it, in its capacity as the Administrative Agent, under the Loan Documents (including
under Section 9.03).

 

Notwithstanding anything herein to the contrary,
no Arranger or any Person named on the cover page of this Agreement as a Syndication Agent shall have any duties or obligations
under this Agreement or any other Loan Document (except in its capacity, as applicable, as a Lender or an Issuing Bank), but all
such Persons shall have the benefit of the indemnities provided for hereunder.

 

The provisions of this Article are solely
for the benefit of the Administrative Agent, the Lenders and the Issuing Banks, and, except solely to the extent of the Borrower’s
rights to consent pursuant to and subject to the conditions set forth in this Article, none of the Borrower or any Subsidiary shall
have any rights as a third party beneficiary of any such provisions. Each Secured Party, whether or not a party hereto, will be
deemed, by its acceptance of the benefits of the Collateral and the Guarantees of the Obligations provided under the Loan Documents,
to have agreed to the provisions of this Article.

 

ARTICLE IX

Miscellaneous

 

SECTION 9.01.  Notices. (a)
General. Except in the case of notices and other communications expressly permitted to be given by telephone (and subject
to paragraph (b) of this Section), all notices and other communications provided for herein shall be in writing and shall be delivered
by hand or overnight courier service, mailed by certified or registered mail or sent by fax, as follows:

 

(i) if to the Borrower, to it
at:

 

Comtech Telecommunications
Corp.

68 South Service Road, Suite 230

Melville, New York 11747

 

    110

     

    

 

	 	Attention:	Chief Financial Officer
	 	Telecopy:	631-962-7001

 

With a copy to:

 

Proskauer
Rose LLP

Eleven Times
Square

1585 Broadway

New York,
NY 10036-8299

	 	Attention:	Robert A. Cantone, Esq.
	 	Telecopy:  	212-969-2900

 

(ii) if to the Administrative
Agent, to it at:

 

Citibank, N.A.

730 Veterans Memorial
Highway

Hauppauge, New York
11788

	 	Attention:	Relationship Officer – Comtech Telecommunications Corp.

 

    111

     

    

 

With a copy to:

 

Citibank, N.A.

730 Veterans Memorial
Highway

Hauppauge, New York
11788

	 	Attention:	Loan Service Specialist – Comtech Telecommunications Corp.

 

(iii) if to any Issuing Bank,
to it at its address (or fax number) most recently specified by it in a notice delivered to the Administrative Agent and the Borrower
(or, in the absence of any such notice, to the address (or fax number) set forth in the Administrative Questionnaire of the Lender
that is serving as such Issuing Bank or is an Affiliate thereof);

 

(iv) if to any Swingline Lender,
to it at its address (or fax number) most recently specified by it in a notice delivered to the Administrative Agent and the Borrower
(or, in the absence of any such notice, to the address (or fax number) set forth in the Administrative Questionnaire of the Lender
that is serving as such Swingline Lender or is an Affiliate thereof); and

 

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

 

Notices and communications sent by hand or overnight courier
service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by fax shall
be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed
to have been given at the opening of business on the next Business Day for the recipient). Notices delivered through electronic
communications, to the extent provided in paragraph (b) of this Section, shall be effective as provided in such paragraph.

 

(b)  Electronic
Communications. Notices and other communications to the Lenders and the Issuing Banks hereunder may be delivered or furnished
by electronic communication (including e-mail and Internet and intranet websites) pursuant to procedures approved by the Administrative
Agent; provided that the foregoing shall not apply to notices under Article II to any Lender or any Issuing Bank if such
Lender or such Issuing Bank, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under
such Article by electronic communication. The Administrative Agent and the Borrower may, in its discretion, agree to accept notices
and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that
approval of such procedures may be limited to particular notices or communications or may be rescinded by any such Person by notice
to each other such Person. 

 

Unless the Administrative Agent otherwise
prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt
of an acknowledgment from the intended recipient (such as by the

 

    112

     

    

 

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

 

(c)  Change
of Address, etc. Any party hereto may change its address or fax number for notices and other communications hereunder by notice
to the other parties hereto.

 

(d)  Platform.
The Borrower agrees that the Administrative Agent may, but shall not be obligated to, make any Communications by posting such Communication
on Debt Domain, IntraLinks, SyndTrak or a substantially similar electronic transmission system (the “Platform”).
The Platform is provided “as is” and “as available”. Neither the Administrative Agent nor any of its Related
Parties warrants, or shall be deemed to warrant, as to the adequacy of the Platform and each such Person expressly disclaims any
liability for errors or omissions in the Communications. No warranty of any kind, express, implied or statutory, including any
warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or
other code defects, is made, or shall be deemed to be made, by any Agent Party in connection with the Communications or the Platform.
In no event shall the Administrative Agent or any of its Related Parties have any liability to the Loan Parties, any Lender, any
Issuing Bank or any other Person for damages of any kind, including direct or indirect, special, incidental or consequential damages,
losses or expenses (whether in tort, contract or otherwise), arising out of any Loan Party’s or the Administrative Agent’s
transmission of Communications through the Platform except to the extent such damages, losses or expenses have resulted from the
gross negligence or willful misconduct of such Person.

 

SECTION 9.02.  Waivers; Amendments.
(a) No failure or delay by the Administrative Agent, any Issuing Bank or any Lender in exercising any right or power hereunder
or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right
or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise
thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Banks and
the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they
would otherwise have. No waiver of any provision of this Agreement or any other Loan Document or consent to any departure by any
Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section,
and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.
Without limiting the generality of the foregoing, the execution and delivery of this Agreement, the making of a Loan or the issuance,

 

    113

     

    

 

amendment, renewal or extension of a Letter
of Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent, any Lender or any
Issuing Bank may have had notice or knowledge of such Default at the time. No notice or demand on the Borrower in any case shall
entitle the Borrower to any other or further notice or demand in similar or other circumstances. 

 

(b)  Except
as otherwise provided for in this Section 9.02, none of this Agreement, any other Loan Document or any provision hereof or thereof
may be waived, amended or modified except, in the case of this Agreement, pursuant to an agreement or agreements in writing entered
into by the Borrower, the Administrative Agent and the Required Lenders and, in the case of any other Loan Document, pursuant to
an agreement or agreements in writing entered into by the Administrative Agent and the Loan Party or Loan Parties that are parties
thereto, in each case with the consent of the Required Lenders; provided that no such agreement shall (i) increase
the Commitment of any Lender (or reinstate any Commitment previously terminated by the Borrower in accordance with the terms hereof)
without the written consent of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement or reduce the
rate of interest thereon, or reduce any fees payable hereunder (in each case, other than as a result of any change in the definition
of the term “Secured Leverage Ratio” or in any component thereof), in each case without the written consent of each
Lender affected thereby, (iii) postpone the scheduled maturity date of any Loan, or the required date of reimbursement of
any LC Disbursement, or any date for the payment of any interest or fees payable hereunder, or reduce the amount of, waive or excuse
any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender affected
thereby, (iv) change Section 2.17(b) or 2.17(c) (or any other provision hereof which would have the effect of changing
the provisions of Section 2.17(b) or Section 2.17(c)) in a manner that would alter the pro rata sharing of payments required thereby
without the written consent of each Lender adversely affected thereby, (v) change any of the provisions of this Section or
the percentage set forth in the definition of the term “Required Lenders” or any other provision of this Agreement
or any other Loan Document specifying the number or percentage of Lenders required to waive, amend or otherwise modify any rights
thereunder or make any determination or grant any consent thereunder, without the written consent of each Lender, (vi) release
or otherwise limit all or substantially all of the value of the Guarantees provided by the Subsidiary Loan Parties (including,
in each case, by limiting liability in respect thereof) under the Collateral Agreement, in each case without the written consent
of each Lender (except as expressly provided in Section 9.14 or the Collateral Agreement (including any such release by the Administrative
Agent in connection with any sale or other disposition of any Subsidiary upon the exercise of remedies under the Security Documents)),
(vii) release all or substantially all the Collateral from the Liens of the Security Documents without the written consent
of each Lender (except as expressly provided in Section 9.14 or the applicable Security Document (including any such release by
the Administrative Agent in connection with any sale or other disposition of the Collateral upon the exercise of remedies under
the Security Documents)), (viii) [reserved], (ix) modify the protections afforded to an SPV pursuant to the provisions
of Section 9.04(e) without the written consent of such SPV or (x) impose any additional restrictions on a Lender’s ability
to assign any of its rights or obligations hereunder without the

 

    114

     

    

 

written consent of such Lender; provided
further that no such agreement shall amend, modify, extend or otherwise affect the rights or obligations of the Administrative
Agent, any Swingline Lender or any Issuing Bank without the prior written consent of the Administrative Agent, such Swingline
Lender or such Issuing Bank, as applicable. Notwithstanding any of the foregoing, (1) no consent with respect to any waiver, amendment
or other modification of this Agreement or any other Loan Document shall be required of any Defaulting Lender, except with respect
to any waiver, amendment or other modification referred to in clause (i), (ii) or (iii) of the first proviso of this paragraph
and then only in the event such Defaulting Lender shall be affected by such waiver, amendment or other modification and (2) this
Agreement may be amended to provide for Revolving Commitment Increases as provided in Section 2.22. 

 

(c)  In
connection with any proposed amendment, modification, waiver or termination (a “Proposed Change”) requiring
the consent of all Lenders or all affected Lenders, if the consent of the Required Lenders to such Proposed Change is obtained,
but the consent to such Proposed Change of other Lenders whose consent is required is not obtained (any such Lender whose consent
is not obtained as described in paragraph (b) of this Section being referred to as a “Non-Consenting Lender”),
then, so long as the Lender that is acting as Administrative Agent is not a Non-Consenting Lender, the Borrower may, at its sole
expense and effort, upon notice to such Non-Consenting Lender and the Administrative Agent, require such Non-Consenting Lender
to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all its
interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be
another Lender, if a Lender accepts such assignment); provided that (i) the Borrower shall have received the prior written
consent of the Administrative Agent, each Swingline Lender and each Issuing Bank, which consent shall not unreasonably be withheld,
(ii) such Non-Consenting Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations
in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder from
the assignee (in the case of such principal and accrued interest and fees) or the Borrower (in the case of all other amounts),
(iii) the Borrower or such assignee shall have paid to the Administrative Agent the processing and recordation fee specified in
Section 9.04(b), (iv) such assignment does not conflict with applicable law and (v) the assignee shall have given its consent to
such Proposed Change and, as a result of such assignment and delegation and any contemporaneous assignments and delegations and
consents, such Proposed Change can be effected.

 

(d)  Notwithstanding
anything herein to the contrary, the Administrative Agent may, without the consent of any Secured Party, consent to a departure
by any Loan Party from any covenant of such Loan Party set forth in this Agreement, the Collateral Agreement or any other Security
Document to the extent such departure is consistent with the authority of the Administrative Agent set forth in the definition
of the term “Collateral and Guarantee Requirement”. 

 

(e)  Notwithstanding
anything in this Section 9.02 to the contrary, the Administrative Agent shall be permitted to amend any provision of any Loan Document

 

    115

     

    

 

in order to reflect the appointment of any additional issuing bank contemplated by clause (B) of the last sentence of Section 2.04(b)
and, such amendment shall become effective without any further consultation with or action or consent of any other party to any
Loan Document; provided that the Borrower’s consent shall be required for such amendments (such consent not to be
unreasonably withheld).

 

(f)  Notwithstanding
anything in this Section 9.02 to the contrary, if the Administrative Agent and the Borrower shall have jointly identified an obvious
error or any error or omission of a technical nature in any provision of any Loan Document, then the Administrative Agent and the
Borrower shall be permitted to amend such provision and any such amendments shall become effective without any further consultation
with or action or consent of any other party to any Loan Document if the same is not objected to in writing by the Required Lenders
within five Business Days following receipt thereof.

 

SECTION 9.03.  Expenses;
Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all reasonable and documented out-of-pocket costs and
expenses incurred by the Administrative Agent, the Arrangers and their respective Affiliates, including the reasonable and
documented out-of-pocket fees, charges, and disbursements of a single counsel for all of the foregoing, collectively (and of
a single local counsel in each material jurisdiction), in connection with the credit facilities provided for herein, as well
as the preparation, negotiation, execution, delivery and administration of this Agreement, the other Loan Documents or any
waiver, amendments or modifications of the provisions hereof or thereof (whether or not the transactions contemplated hereby
or thereby shall be consummated), (ii) all reasonable and documented out-of-pocket expenses incurred by any Issuing Bank
in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder
and (iii) all reasonable and documented out-of-pocket costs and expenses incurred by the Administrative Agent, the
Arrangers, any Issuing Bank or any Lender (including the reasonable and documented fees, charges and disbursements of (x) a
single counsel for all of the foregoing (and, solely in the case of an actual or potential conflict of interest, one
additional counsel for each set of similarly affected Persons), (y) one regulatory or specialty counsel to the
foregoing with respect to any material regulatory and/or specialty areas and (z) one local counsel to the foregoing in each
material jurisdiction), in connection with the enforcement or protection of its rights in connection with the Loan Documents,
including its rights under this Section, or in connection with the Loans made or Letters of Credit issued hereunder,
including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans
or Letters of Credit. 

 

(b)  The
Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), the Arrangers, the Syndication Agent, each Lender
and each Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”),
against, and hold each Indemnitee harmless from, any and all losses, claims, damages, penalties, liabilities and related expenses
(including the reasonable and documented out-of-pocket fees, charges and disbursements of counsel but limited, in the case of legal
fees and expenses, to one counsel to such Indemnitees, taken as a whole, and, solely in the case of an actual or potential conflict
of interest, one additional counsel

 

    116

     

    

 

to each set of similarly affected Indemnitees, taken as a whole (and, if reasonably necessary,
of (x) one regulatory or specialty counsel with respect to any material regulatory and/or specialty areas, (y) one local counsel
in any material jurisdiction to all such Persons, taken as a whole, and (z) solely in the case of any such actual or potential
conflict of interest, one additional counsel of the applicable type to each set of similarly affected Indemnitees)), that may be
incurred by or asserted against any such Indemnitee arising out of, in connection with or as a result of (i) the credit facilities
provided for herein or in the Original Credit Agreement, the preparation, negotiation, execution, delivery and administration of
this Agreement, the other Loan Documents or any other agreement or instrument contemplated hereby or thereby, the performance by
the parties to this Agreement or the other Loan Documents of their respective obligations hereunder or thereunder or the consummation
of the Transactions or any other transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use
of the proceeds therefrom (including any refusal by any Issuing Bank to honor a demand for payment under a Letter of Credit if
the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any
actual or alleged presence or Release of Hazardous Materials on, at, to or from any Mortgaged Property or any other property currently
or formerly owned or operated by the Borrower or any Subsidiary, or any other Environmental Liability related in any way to the
Borrower or any Subsidiary or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any
of the foregoing, whether based in contract, tort or any other theory and whether initiated against or by any party to this Agreement
or any other Loan Document, any Affiliate of any of the foregoing or any third party (and regardless of whether any Indemnitee
is a party thereto); provided that the foregoing indemnity shall not, as to any Indemnitee, apply to any losses, claims,
damages, penalties, liabilities or related expenses to the extent they (A) are found in a final and non-appealable judgment
of a court of competent jurisdiction to have resulted from the bad faith, willful misconduct or gross negligence of such Indemnitee,
(B) [reserved] or (C) result from a proceeding that does not involve an act or omission by the Borrower or any of its Affiliates
and that is brought by an Indemnitee against any other Indemnitee (other than a proceeding that is brought against the Administrative
Agent or any Arranger in its capacity or in fulfilling its roles as an agent or arranger hereunder or any similar role with respect
to the Indebtedness incurred or to be incurred hereunder). This paragraph shall not apply with respect to Taxes other than any
Taxes that represent losses, claims or damages arising from any non-Tax claim.

 

(c)  To
the extent that the Borrower fails to indefeasibly pay any amount required to be paid by it under paragraph (a) or (b) of this
Section to the Administrative Agent (or any sub-agent thereof), any Swingline Lender, any Issuing Bank or any Related Party of
any of the foregoing (and without limiting its obligation to do so), each Lender severally agrees to pay to the Administrative
Agent (or any such sub-agent), such Swingline Lender, such Issuing Bank or such Related Party, as applicable, such Lender’s
pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid
amount (it being understood and agreed that the Borrower’s failure to pay any such amount shall not relieve the Borrower
of any default in the payment thereof); provided that the unreimbursed expense or indemnified loss, claim, damage, liability
or related expense, as applicable, was incurred by or

 

    117

     

    

 

asserted against the Administrative Agent (or
such sub-agent), such Swingline Lender or such Issuing Bank in its capacity as such, or against any Related Party of any of the
foregoing acting for the Administrative Agent (or any such sub-agent), any Swingline Lender or any Issuing Bank in connection
with such capacity. For purposes of this Section, a Lender’s “pro rata share” shall be determined based upon
its share of the sum of the total Revolving Exposures and unused Revolving Commitments at that time. The obligations of the Lenders
under this paragraph are subject to the last sentence of Section 2.02(a) (which shall apply mutatis mutandis to the Lenders’
obligations under this paragraph). 

 

(d)  To
the fullest extent permitted by applicable law, the Borrower shall not assert, or permit any of its Subsidiaries or Related Parties
to assert, and each hereby waives, any claim against any Indemnitee (i) for any damages arising from the use by others of information
or other materials obtained through telecommunications, electronic or other information transmission systems (including the Internet)
or (ii) on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated
hereby or thereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof.

 

(e)  All
amounts due under this Section shall be payable promptly after written demand therefor.

 

SECTION 9.04.  Successors and
Assigns. (a) General. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns permitted hereby (including any Affiliate of any Issuing Bank that issues any
Letter of Credit), except that (i) the Borrower may not assign, delegate or otherwise transfer any of its rights or obligations
hereunder without the prior written consent of the Administrative Agent and each Lender (and any attempted assignment, delegation
or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may assign, delegate or otherwise
transfer its rights or obligations hereunder except in accordance with this Section. Nothing in this Agreement, expressed or implied,
shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns as permitted
hereby (including any Affiliate of any Issuing Bank that issues any Letter of Credit), Participants (to the extent provided in
paragraph (c) of this Section), the Arrangers, the Syndication Agent and, to the extent expressly contemplated hereby, the
sub-agents of the Administrative Agent and the Related Parties of any of the Administrative Agent, the Arrangers, the Syndication
Agent, any Issuing Bank and any Lender) any legal or equitable right, remedy or claim under or by reason of this Agreement.

 

(b)  Assignments
by Lenders. (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign and delegate
to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion
of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld
or delayed) of (A) the Borrower; provided that no consent of the Borrower shall be required (1) for an

 

    118

     

    

 

assignment and delegation to a Lender, an Affiliate
of a Lender or an Approved Fund and (2) if an Event of Default has occurred and is continuing, for any assignment and delegation;
provided further that the Borrower shall be deemed to have consented to any such assignment and delegation unless it shall
have objected thereto by written notice to the Administrative Agent within ten Business Days after having received notice thereof,
(B) the Administrative Agent, (C) each Issuing Bank and (D) each Swingline Lender. 

 

(ii) Assignments and delegations shall be
subject to the following additional conditions: (A) except in the case of an assignment and delegation to a Lender, an Affiliate
of a Lender or an Approved Fund or an assignment and delegation of the entire remaining amount of the assigning Lender’s
Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment and delegation
(determined as of the trade date specified in the Assignment and Assumption with respect to such assignment and delegation or,
if no trade date is so specified, as of the date the Assignment and Assumption with respect to such assignment and delegation is
delivered to the Administrative Agent) shall not be less than $1,000,000, unless each of the Borrower and the Administrative Agent
otherwise consents (such consent not to be unreasonably withheld or delayed); provided that no such consent of the Borrower
shall be required if an Event of Default has occurred and is continuing, (B) each partial assignment and delegation shall
be made as an assignment and delegation of a proportionate part of all the assigning Lender’s rights and obligations under
this Agreement, (C) the parties to each assignment and delegation shall execute and deliver to the Administrative Agent an
Assignment and Assumption, together with a processing and recordation fee of $3,500; provided that (1) only one such processing
and recordation fee shall be payable in the event of simultaneous assignments and delegations from any Lender or its Approved Funds
to one or more other Approved Funds of such Lender and (2) with respect to any assignment and delegation pursuant to Section 2.18(b)
or 9.02(c), the parties hereto agree that such assignment and delegation may be effected pursuant to an Assignment and Assumption
executed by the Borrower, the Administrative Agent and the assignee and that the Lender required to make such assignment and delegation
need not be a party thereto, and (D) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent
any tax forms required by Section 2.16(f) and an Administrative Questionnaire in which the assignee designates one or more
credit contacts to whom all syndicate-level information (which may contain MNPI) will be made available and who may receive such
information in accordance with the assignee’s compliance procedures and applicable law, including Federal, State and foreign
securities laws.

 

(iii) Subject to acceptance and recording
thereof pursuant to paragraph (b)(v) of this Section, from and after the effective date specified in each Assignment and Assumption,
the assignee thereunder shall be a party hereto and, to the extent of the interest assigned and delegated by such Assignment and
Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the
extent of the interest assigned and delegated by such Assignment and Assumption, be released from its obligations under this Agreement
(and, in the case of an Assignment and Assumption covering all the assigning Lender’s rights and obligations under this Agreement,
such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of (and subject to the obligations
and limitations of)

 

    119

     

    

 

Sections 2.14, 2.15, 2.16 and 9.03 and
to any fees payable hereunder that have accrued for such Lender’s account but have not yet been paid). Any assignment, delegation
or other transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section shall be treated
for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section
9.04(c). 

 

(iv) The Administrative Agent, acting solely
for this purpose as a non-fiduciary agent of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption
delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal
amount (and stated interest) of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to
time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower,
the Administrative Agent, the Issuing Banks and the Lenders shall treat each Person whose name is recorded in the Register pursuant
to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register
shall be available for inspection by the Borrower and, as to entries pertaining to it, any Issuing Bank or any Lender, at any reasonable
time and from time to time upon reasonable prior notice.

 

(v)  Upon
receipt by the Administrative Agent of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee,
the assignee’s completed Administrative Questionnaire and any tax forms required by Section 2.16(f) (unless the assignee
shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b)(ii) of this Section
and any written consent to such assignment and delegation required by paragraph (b)(i) of this Section, the Administrative
Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided
that the Administrative Agent shall not be required to accept such Assignment and Assumption or so record the information contained
therein if the Administrative Agent reasonably believes that such Assignment and Assumption lacks any written consent required
by this Section or is otherwise not in proper form, it being acknowledged that the Administrative Agent shall have no duty or obligation
(and shall incur no liability) with respect to obtaining (or confirming the receipt of) any such written consent or with respect
to the form of (or any defect in) such Assignment and Assumption, any such duty and obligation being solely with the assigning
Lender and the assignee. No assignment or delegation shall be effective for purposes of this Agreement unless it has been recorded
in the Register as provided in this paragraph and, following such recording, unless otherwise determined by the Administrative
Agent (such determination to be made in the sole discretion of the Administrative Agent, which determination may be conditioned
on the consent of the assigning Lender and the assignee), shall be effective notwithstanding any defect in the Assignment and Assumption
relating thereto. Each assigning Lender and the assignee, by its execution and delivery of an Assignment and Assumption, shall
be deemed to have represented to the Administrative Agent that all written consents required by this Section with respect thereto
(other than the consent of the Administrative Agent) have been obtained and that such Assignment and Assumption is otherwise duly
completed and in proper form, and each assignee, by its execution and delivery of an Assignment and

 

    120

     

    

 

Assumption, shall be deemed to have represented
to the assigning Lender and the Administrative Agent that such assignee is an Eligible Assignee. 

 

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

 

(c)  Participations.
Any Lender may, without the consent of the Borrower, the Administrative Agent, any Swingline Lender or any Issuing Bank, sell participations
to one or more Eligible Assignees (each, a “Participant”) in all or a portion of such Lender’s rights
and obligations under this Agreement (including all or a portion of its Commitments and Loans); provided that (A) such
Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to
the other parties hereto for the performance of such obligations and (C) the Borrower, the Administrative Agent, the Issuing
Banks and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s
rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification
or waiver of any provision of this Agreement or any other Loan Document; provided that such agreement or instrument may
provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described
in the first proviso to Section 9.02(b) that affects such Participant or requires the approval of all the Lenders. The Borrower
agrees that each Participant shall be entitled to the benefits of Sections 2.14, 2.15 and 2.16 (subject to the requirements and
limitations therein, including the requirements under Section 2.16(f) (it being understood and agreed that the documentation required
under Section 2.16(f) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired
its interest by assignment and delegation pursuant to paragraph (b) of this Section; provided that such Participant
(A) agrees to be subject to the provisions of Sections 2.17 and 2.18 as if it were an assignee under paragraph (b) of this Section
and (B) shall not be entitled to receive any greater payment under Section 2.14 or 2.16, with respect to any participation, than
its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment
results from a Change in Law that occurs after the Participant acquired the applicable participation. Each Lender that sells a
participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to
effectuate the provisions of Section 2.18(b) with respect to any Participant. To the extent permitted by law, each Participant
also shall be entitled to the benefits of Section 9.08 as though it were a Lender; provided that such Participant agrees
to be subject to Section 2.17(c) as though it were a Lender. Each Lender that sells a participation shall, acting solely for
this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant

 

    121

     

    

 

and the principal amounts (and stated interest)
of each Participant’s interest in the Loans or other obligations under this Agreement or any other Loan Document (the “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant
Register (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments,
Loans, Letters of Credit or its other obligations under this Agreement or any other Loan Document) to any Person except to the
extent that such disclosure is necessary to establish that such Commitment, Loan, Letter of Credit or other obligation is in registered
form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive
absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner
of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt,
the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant
Register. 

 

(d)  Certain
Pledges. Any Lender may, without the consent of the Borrower, the Administrative Agent, any Swingline Lender or any Issuing
Bank, at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations
of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not
apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security
interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender
as a party hereto.

 

(e)  Special
Purpose Funding Vehicles. Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”)
may grant to a special purpose funding vehicle (an “SPV”), identified as such in writing from time to time by
the Granting Lender to the Administrative Agent and the Borrower, the option to provide to the Borrower all or any part of any
Loan that such Granting Lender would otherwise be obligated to make to the Borrower pursuant to this Agreement; provided
that (i) nothing herein shall constitute a commitment by any SPV to make any Loan and (ii) if an SPV elects not to exercise
such option or otherwise fails to provide all or any part of such Loan, the Granting Lender shall be obligated to make such Loan
pursuant to the terms hereof. The making of a Loan by an SPV hereunder shall utilize the Commitment of the Granting Lender to the
same extent, and as if, such Loan were made by such Granting Lender. Each party hereto hereby agrees that no SPV shall be liable
for any indemnity or similar payment obligation under this Agreement (all liability for which shall remain with the Granting Lender).
In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement)
that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior
indebtedness of any SPV, such party will not institute against, or join any other person in instituting against, such SPV any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings under the laws of the United States or any State thereof. In
addition, notwithstanding anything to the contrary contained in this Section, any SPV may (i) with notice to, but without
the prior written consent of, the Borrower and the Administrative Agent and without paying any processing fee therefor, assign
and delegate all or a portion of its interests in any

 

    122

     

    

 

Loans to the Granting Lender or to any financial
institutions (consented to by the Borrower and Administrative Agent) providing liquidity or credit support to or for the account
of such SPV to support the funding or maintenance of Loans and (ii) disclose on a confidential basis any non-public information
relating to its Loans to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity
enhancement to such SPV. 

 

SECTION 9.05.  Survival.
All covenants, agreements, representations and warranties made by the Loan Parties in this Agreement and the other Loan Documents
and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document
shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement
and the other Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation
made by any such other party or on its behalf and notwithstanding that the Administrative Agent, any Arranger, the Syndication
Agent, any Issuing Bank, any Lender or any Affiliate of any of the foregoing may have had notice or knowledge of any Default or
incorrect representation or warranty at the time this Agreement or any other Loan Document is executed and delivered or any credit
is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan
or any fee or any other amount payable under this Agreement is outstanding and unpaid or any LC Exposure is outstanding and so
long as the Commitments have not expired or terminated. Notwithstanding the foregoing or anything else to the contrary set forth
in this Agreement or any other Loan Document, in the event that, in connection with the refinancing or repayment in full of the
credit facilities provided for herein, an Issuing Bank shall have provided to the Administrative Agent a written consent to the
release of the Revolving Lenders from their obligations hereunder with respect to any Letter of Credit issued by such Issuing Bank
(whether as a result of the obligations of the Borrower (and any other account party) in respect of such Letter of Credit having
been collateralized in full by a deposit of cash with such Issuing Bank, or being supported by a letter of credit that names such
Issuing Bank as the beneficiary thereunder, or otherwise), then from and after such time such Letter of Credit shall cease to be
a “Letter of Credit” outstanding hereunder for all purposes of this Agreement and the other Loan Documents, and the
Revolving Lenders shall be deemed to have no participations in such Letter of Credit, and no obligations with respect thereto,
under Section 2.04(d) or 2.04(e). The provisions of Sections 2.14, 2.15, 2.16, 2.17(e) and 9.03 and Article VIII shall
survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment
or prepayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination of this
Agreement or any provision hereof.

 

SECTION 9.06.  Counterparts;
Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts),
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement,
the other Loan Documents and any separate letter agreements with respect to fees payable to the Administrative Agent or the syndication
of the Loans and Commitments constitute the entire contract among the parties relating to the subject matter hereof and supersede
any and all previous

 

    123

     

    

 

agreements and understandings, oral or written,
relating to the subject matter hereof, including the commitments of the Lenders and, if applicable, their Affiliates under the
commitment letter in respect of the credit facilities set forth herein and any related commitment advices submitted by the Lenders
(but do not supersede any other provisions of such commitment letter or any related fee letters that do not, by the terms of such
documents, terminate upon the effectiveness of this Agreement, all of which provisions shall remain in full force and effect).
This Agreement shall become effective on the First A&R Effective Date. 

 

SECTION 9.07.  Severability.
Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability
of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate
such provision in any other jurisdiction.

 

SECTION 9.08.  Right of Setoff.
If an Event of Default shall have occurred and be continuing, each Lender, each Issuing Bank and each of their respective Affiliates
is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply
any and all deposits (general or special, time or demand, provisional or final, in whatever currency) or other amounts at any time
held and other obligations (in whatever currency) at any time owing by such Lender, such Issuing Bank or any such Affiliate to
or for the credit or the account of the Borrower against any of and all the Obligations then due of the Borrower now or hereafter
existing under this Agreement held by such Lender, such Issuing Bank or any such Affiliates, irrespective of whether or not such
Lender, such Issuing Bank or any such Affiliate shall have made any demand under this Agreement and although such obligations of
the Borrower are owed to a branch or office of such Lender, such Issuing Bank or any such Affiliate different from the branch or
office holding such deposit or obligated on such Indebtedness. Each Lender and each Issuing Bank agrees to notify the Borrower
and the Administrative Agent promptly after any such setoff and application; provided that the failure to give or any delay
in giving such notice shall not affect the validity of any such setoff and application under this Section. The rights of each Lender,
each Issuing Bank and their respective Affiliates under this Section are in addition to other rights and remedies (including other
rights of setoff) that such Lender, such Issuing Bank and any such Affiliate may have.

 

SECTION 9.09.  Governing Law;
Jurisdiction; Consent to Service of Process. (a) This Agreement and any claim, controversy, dispute or cause of action (whether
in contract or tort or otherwise) based upon, arising out of or relating to this Agreement and the transactions contemplated hereby
shall be governed by, and construed in accordance with, the law of the State of New York. 

 

(b)  The
Borrower irrevocably and unconditionally agrees that it will not commence any action, litigation or proceeding of any kind or description,
whether in law or equity, whether in contract or in tort or otherwise, against the Administrative Agent, any Lender, any Issuing
Bank or any Related Party of any of the foregoing in any way

 

    124

     

    

 

relating to this Agreement or any other Loan Document or the transactions
relating hereto or thereto, in any forum other than the courts of the State of New York sitting in New York County and of the United
States District Court of the Southern District of New York, and any appellate court from any thereof, and each of the parties hereto
irrevocably and unconditionally submits, for itself and its property, to the jurisdiction of such courts and agrees that all claims
in respect of any action, litigation or proceeding may be heard and determined in such New York State court or, to the fullest
extent permitted by applicable law, in such Federal court. Each party hereto agrees that a final judgment in any such action, litigation
or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by law. Nothing in this Agreement shall affect any right that the Administrative Agent, any Lender or any Issuing Bank may otherwise
have to bring any action, litigation or proceeding relating to this Agreement or any other Loan Document against any Loan Party
or any of its properties in the courts of any jurisdiction.

 

(c)  The
Borrower hereby irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any objection that it
may now or hereafter have to the laying of venue of any action, litigation or proceeding arising out of or relating to this Agreement
or any other Loan Document in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding
in any such court.

 

(d)  Each
party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 9.01. Nothing
in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other
manner permitted by law.

 

SECTION 9.10.  WAIVER OF JURY
TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE
TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN
DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED IN CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH
OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

SECTION 9.11.  Headings.
Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this
Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.

 

    125

     

    

 

SECTION 9.12.  Confidentiality.
Each of the Administrative Agent, the Lenders and the Issuing Banks agrees to maintain the confidentiality of the Information
(as defined below), except that Information may be disclosed (a) to its Related Parties, including accountants, legal counsel
and other agents and advisors, it being understood and agreed that the Persons to whom such disclosure is made will be informed
of the confidential nature of such Information and instructed to keep such Information confidential, (b) to the extent required
or requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any
self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable
laws or regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection
with the exercise of any remedies under this Agreement or any other Loan Document or any suit, action or proceeding relating to
this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) to (i) any assignee of
or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or
(ii) any actual or prospective counterparty (or its Related Parties) to any Hedging Agreement relating to the Borrower or
any Subsidiary and its obligations hereunder or under any other Loan Document, in each case if such Person agrees to be bound
by the terms of this paragraph (or language substantially similar to this paragraph), (g) on a confidential basis to (i)
any rating agency in connection with rating the Borrower or its Subsidiaries or the credit facilities provided for herein or (ii)
the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to
the credit facilities provided for herein, (h) with the consent of the Borrower or (i) to the extent such Information (i) becomes
publicly available other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent,
any Lender or any Issuing Bank or any Affiliate of any of the foregoing on a nonconfidential basis from a source other than the
Borrower; provided that, in the case of clause (c) above, the party disclosing such information shall provide to the Borrower
prior written notice of such disclosure to the extent permitted by applicable law (and to the extent commercially feasible under
the circumstances) and shall cooperate with the Borrower, at the Borrower’s sole expense, in obtaining a protective order
for, or other confidential treatment of, such disclosure, in each case at the Borrower’s sole expense. For purposes of this
Section, “Information” means all information received from the Borrower relating to the Borrower or any Subsidiary
or their businesses, other than any such information that is available to the Administrative Agent, any Lender or any Issuing
Bank on a nonconfidential basis prior to disclosure by the Borrower; provided that, in the case of information received
from the Borrower after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person
required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with
its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information
as such Person would accord to its own confidential information, but in no event less than a commercially reasonable degree of
care. 

 

SECTION 9.13.  Interest Rate
Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan or participation
in any LC Disbursement, together with all fees, charges and other amounts

 

    126

     

    

 

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

 

SECTION 9.14.  Release of Liens
and Guarantees. Subject to the reinstatement provisions set forth in the Collateral Agreement, a Subsidiary Loan Party shall
automatically be released from its obligations under the Loan Documents, and all security interests created by the Security Documents
in Collateral owned by such Subsidiary Loan Party shall be automatically released, upon the consummation of any transaction permitted
by this Agreement as a result of which such Subsidiary Loan Party ceases to be a Subsidiary; provided that, if so required
by this Agreement, the Required Lenders shall have consented to such transaction and the terms of such consent shall not have provided
otherwise. Upon any sale or other transfer by any Loan Party (other than to the Borrower or any other Loan Party) of any Collateral
in a transaction permitted under this Agreement, or upon the effectiveness of any written consent to the release of the security
interest created under any Security Document in any Collateral pursuant to Section 9.02, the security interests in such Collateral
created by the Security Documents shall be automatically released. In connection with any termination or release pursuant to this
Section, the Administrative Agent shall execute and deliver to any Loan Party, at such Loan Party’s expense, all documents
that such Loan Party shall reasonably request to evidence such termination or release. Any execution and delivery of documents
pursuant to this Section shall be without recourse to or warranty by the Administrative Agent. Each of the Secured Parties
irrevocably authorize the Administrative Agent, at its option and in its discretion, to effect the releases set forth in this Section.

 

SECTION 9.15.  USA PATRIOT Act
Notice. Each Lender, each Issuing Bank and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies
each Loan Party that, pursuant to the requirements of the USA PATRIOT Act and the Beneficial Ownership Regulation, it is required
to obtain, verify and record information that identifies such Loan Party, which information includes the name and address of such
Loan Party (or any of their respective officers and beneficial owners) and other information that will allow such Lender, such
Issuing Bank or the Administrative Agent, as applicable, to identify such Loan Party in accordance with the USA PATRIOT Act and
the Beneficial Ownership Regulation, and each Loan Party agrees to provide such information from time to time to such Lender, such
Issuing Bank and the Administrative Agent, as applicable. This notice is given in accordance with the

 

    127

     

    

 

requirements of the USA PATRIOT Act and the
Beneficial Ownership Regulation and is effective for each Lender, each Issuing Bank and the Administrative Agent. 

 

SECTION 9.16.  No Fiduciary Relationship.
The Borrower, on behalf of itself and its Subsidiaries, agrees that in connection with all aspects of the transactions contemplated
hereby and any communications in connection therewith, the Borrower, the Subsidiaries and their respective Affiliates, on the one
hand, and the Administrative Agent, the Arrangers, the Lenders, the Issuing Banks and their respective Affiliates, on the other
hand, will have a business relationship that does not create, by implication or otherwise, any fiduciary duty on the part of the
Administrative Agent, the Lenders, the Issuing Banks or their Affiliates, and no such duty will be deemed to have arisen in connection
with any such transactions or communications. The Administrative Agent, the Arrangers, the Lenders, the Issuing Banks and their
respective Affiliates may be engaged, for their own accounts or the accounts of customers, in a broad range of transactions that
involve interests that differ from those of the Borrower, the Subsidiaries and their respective Affiliates, and none of the Administrative
Agent, the Arrangers, the Lenders, the Issuing Banks or any of their respective Affiliates has any obligation to disclose any of
such interests to the Borrower, the Subsidiaries or any of their respective Affiliates. To the fullest extent permitted by law,
the Borrower hereby waives and releases any claims that it or any of its Affiliates may have against the Administrative Agent,
the Arrangers, the Lenders, the Issuing Banks or any of their respective Affiliates with respect to any breach or alleged breach
of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.

 

SECTION 9.17.  Non-Public Information.
(a) Each Lender acknowledges that all information, including requests for waivers and amendments, furnished by the Borrower or
the Administrative Agent pursuant to or in connection with, or in the course of administering, this Agreement will be syndicate-level
information, which may contain MNPI. Each Lender represents to the Borrower and the Administrative Agent that (i) it has developed
compliance procedures regarding the use of MNPI and that it will handle MNPI in accordance with such procedures and applicable
law, including Federal, State and foreign securities laws, and (ii) it has identified in its Administrative Questionnaire a credit
contact who may receive information that may contain MNPI in accordance with its compliance procedures and applicable law, including
Federal, State and foreign securities laws.

 

(b)  The
Borrower and each Lender acknowledge that, if information furnished by the Borrower pursuant to or in connection with this Agreement
is being distributed by the Administrative Agent through the Platform, (i) the Administrative Agent may post any information that
the Borrower has indicated as containing MNPI solely on that portion of the Platform as is designated for Private Side Lender Representatives
and (ii) if the Borrower has not indicated whether any information furnished by it pursuant to or in connection with this Agreement
contains MNPI, the Administrative Agent reserves the right to post such information solely on that portion of the Platform as is
designated for Private Side Lender Representatives. The Borrower agrees to clearly designate all information provided to the Administrative
Agent by or on behalf of the Borrower that is suitable to be made available to Public Side Lender

 

    128

     

    

 

Representatives, and the Administrative Agent
shall be entitled to rely on any such designation by the Borrower without liability or responsibility for the independent verification
thereof. 

 

SECTION 9.18.  Acknowledgement
and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any
other agreement, arrangement or understanding among the parties hereto, each party hereto acknowledges that any liability of any
EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down
and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

 

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

 

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

 

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

 

(B) a conversion of all, or a portion
of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent entity, or a bridge
institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will
be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or

 

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

 

(c)  The
following terms shall for purposes of this Section have the meanings set forth below:

 

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

 

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

 

“EEA Financial Institution”
means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of
an EEA Resolution Authority, (b) any entity established in an EEA Member Country which

 

    129

     

    

 

is a parent of an institution described in
clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of
an institution described in clause (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

 

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

 

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

 

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

 

“Write-Down and Conversion Powers”
means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from
time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described
in the EU Bail-In Legislation Schedule.

 

SECTION 9.19.  Certain ERISA
Matters. (a) Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y)
covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for
the benefit of, the Administrative Agent and its Affiliates, and not, for the avoidance of doubt, to or for the benefit of the
Borrower or any other Loan Party, that at least one of the following is and will be true:

 

(i) such Lender is not using “plan
assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans in connection with the Loans,
the Letters of Credit or the Commitments,

 

(ii) the transaction exemption
set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified
professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts),
PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class
exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions
determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration
of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or 

 

(iii) (A) such Lender is an investment
fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified
Professional Asset Manager made the investment decision on

 

    130

     

    

 

behalf of such Lender to enter into, participate in, administer and
perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration
of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of sub-sections
(b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part
I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance
of the Loans, the Letters of Credit, the Commitments and this Agreement; or

 

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

 

(b)  In
addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender
has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause
(a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants,
from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit
of, the Administrative Agent and its Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or
any other Loan Party, that none of the Administrative Agent or any of its Affiliates is a fiduciary with respect to the assets
of such Lender involved in the Loans, the Letters of Credit, the Commitments and this Agreement (including in connection with the
reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related
to hereto or thereto).

 

    131

     

    

 

SCHEDULE 2.01

 

Revolving Commitments

 

	Name of Lender	 	Revolving Commitment	 
	Citibank, N.A.	 	$	60,000,000.00	 
	Manufacturers & Traders Trust Company	 	$	60,000,000.00	 
	BMO Harris Bank, N.A.	 	$	40,000,000.00	 
	Santander Bank, N.A.	 	$	40,000,000.00	 
	Regions Bank	 	$	27,500,000.00	 
	TD Bank, N.A.	 	$	27,500,000.00	 
	New York Commercial Bank	 	$	20,000,000.00	 
	IDB Bank of New York	 	$	15,000,000.00	 
	Signature Bank	 	$	10,000,000.00	 
	Total:	 	$	300,000,000.00	 

 

     

     

    

 

SCHEDULE 2.21

 

Swingline Commitments

 

	Name of Lender	 	Swingline Commitment	 
	Citibank, N.A.	 	$	25,000,000.00	 
	Total:	 	$	25,000,000.00Document

Exhibit 10.1

AMENDMENT NO. 3 

This AMENDMENT NO. 3, dated as of May 15, 2018 (this “Amendment”) is entered into by and among BASIC ENERGY RECEIVABLES, LLC (the “Borrower”), BASIC ENERGY SERVICES, L.P. (the “Servicer”), BASIC ENERGY SERVICES, INC. (“Parent”), the Lenders signatory hereto (each a “Consenting Lender” and collectively, the “Consenting Lenders”), and UBS AG, STAMFORD BRANCH, as administrative agent (in such capacity, the “Administrative Agent”).
PRELIMINARY STATEMENTS
A.  Borrower, Servicer, Parent, the lenders from time to time party thereto (the “Lenders”) and Administrative Agent are parties to that certain to the CREDIT AND SECURITY AGREEMENT dated as of September 29, 2017 (as amended or otherwise modified from time to time, the “Credit Agreement”), and 
B.  The Borrower, Administrative Agent and Lenders desire that certain provisions of the Credit Agreement be amended as provided herein.
Accordingly, in consideration of the mutual agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1.  Defined Terms. Capitalized terms used but not otherwise defined herein (including the preliminary statements hereto) shall have the meanings assigned thereto in the Credit Agreement.  The provisions of Section 1.02 of the Credit Agreement are hereby incorporated by reference herein, mutatis mutandis.
SECTION 2.  Amendments to the Credit Agreement.  Subject to the satisfaction of the conditions set forth in Section 4 hereof, the Credit Agreement is hereby amended as follows, effective as of the Amendment Effective Date (as defined below):
(a)  The definition of “Borrowing Base” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
““Borrowing Base” means, as of any date, an amount equal to (i) the product of (a) the Net Receivables Balance as of such date multiplied by (b) the Advance Rate as of the applicable Calculation Date, plus (ii) the lesser of (x) $15,000,000  and (y) the product of (a) the Eligible Unbilled Receivables Balance as of such date multiplied by (b) the Advance Rate as of the applicable Calculation Date (such amount equal to the sum of clause (i) and clause (ii) being the “Eligible Amount”), minus (iii) the Borrowing Base Availability Reserve. The Borrowing Base set forth in any Borrowing Base Report shall remain in effect until the next Borrowing Base Report is delivered pursuant to Section 8.01(k).”

Exhibit 10.1

(b)  Section 8.01 of the Credit Agreement is hereby amended by amending and restating clause (i) of Section 8.01(k) thereof in its entirety as follows:
“(k) (i) as soon as reasonably practicable but in any event within (x) three (3) Business Days after the 15th day of each month and (y) five (5) Business Days after the last day of each calendar month, a Borrowing Base Report, as of such 15th day or last day, as applicable, of such calendar month, and supporting information in connection therewith, together with any additional reports with respect to the Borrowing Base as the Agents may reasonably request,”  
SECTION 3.  Representations and Warranties.  To induce the other parties hereto to enter into this Amendment, Borrower, Servicer and Parent each represents and warrants to the Administrative Agent and the Lenders that: 
(a)  The representations and warranties set forth in Article VI of the Credit Agreement and in each other Loan Document are true and correct (A) in the case of the representations and warranties qualified as to materiality, in all respects and (B) otherwise, in all material respects, in each case on and as of the Amendment Effective Date as though made on and as of such date, except to the extent that such representations and warranties expressly relate to an earlier date.
(b)  No Default or Event of Default has occurred and is continuing after giving effect to this Amendment.
(c)  None of the Loan Documents in effect on the Amendment Effective Date, including, without limitation, the Receivables Transfer Agreement, will be rendered invalid, non-binding or unenforceable against any Loan Party as a result of this Amendment. The Liens created under such Loan Documents will continue to secure the Obligations, and will continue to be perfected, in each case, to the same extent as they secured the Obligations or were perfected immediately prior to the Amendment Effective Date.
(d)  The Credit Agreement, as amended by this Amendment and the consummation of the transactions contemplated hereby, (i) have been duly authorized by all requisite corporate or limited liability company action of the Borrower, Servicer and Parent, (ii) are permitted under and will not violate the organizational or governance documents of such Persons and (iii) will not violate, conflict with or result in a default under any agreement or other instrument binding upon such Persons or their assets, including, without limitation, the Parent Credit Agreement or any other Loan Document, except, with respect to clause (iii) above, for any such violation, conflict or default that would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

Exhibit 10.1

SECTION 4.  Effectiveness.  This Amendment shall become effective on and as of the date on which each of the following conditions precedent is satisfied (such date, the “Amendment Effective Date”):
(a)  The Administrative Agent shall have received duly executed and delivered counterparts of this Amendment that, when taken together, bear the signatures of the Borrower, the other Loan Parties, the Supermajority Lenders and the Administrative Agent.
(b)  The Administrative Agent shall have received, for the ratable benefit of each Consenting Lender which has executed and delivered its signature page to this Amendment prior to 12:00 noon (eastern time) on May 15, 2018, a fee in an amount equal to the product of (i) 0.10% times (ii) the aggregate Commitments of such Consenting Lenders.
SECTION 5.  Effect of this Amendment.  (a)    Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Administrative Agent, the Lenders or any other Secured Party under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle any Loan Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances.  This Amendment shall apply and be effective only with respect to the provisions of the Credit Agreement specifically referred to herein.
(b)  From and after the Amendment Effective Date, any reference to the Credit Agreement shall mean the Credit Agreement as modified by this Amendment.
(c)  This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents.
(d)  The Credit Agreement and each of the other Loan Documents remains in full force and effect, except as expressly amended hereby.
SECTION 6.  Reaffirmation; Further Assurances.  Each of the Borrower and the other Loan Parties hereby acknowledges that it expects to receive substantial direct and indirect benefits as a result of this Amendment and the transactions contemplated hereby, and each of the foregoing hereby consents to this Amendment and the transactions contemplated hereby, and hereby confirms its respective grants of security interests, as applicable, under each of the Loan Documents to which it is party, and agrees that, notwithstanding the effectiveness of this Amendment and the transactions contemplated hereby, such guarantees, pledges and grants of security interests shall

Exhibit 10.1

 continue to be in full force and effect and shall accrue to the benefit of the Secured Parties.
SECTION 7.  Expenses.  The Borrower agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Amendment, including the reasonable fees, charges and disbursements of Winston & Strawn LLP.
SECTION 8.  Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery by electronic transmission (e.g., “pdf”) of an executed counterpart of a signature page to this Amendment shall be effective as delivery of an original executed counterpart of this Amendment.
SECTION 9.  Governing Law.    THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
SECTION 10.  Headings.  Section headings used herein are for convenience of reference only, are not part of this Amendment and are not to affect the construction of, or be taken into consideration in interpreting, this Amendment.
[Remainder of page intentionally left blank]

Exhibit 10.1

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

						
	UBS AG, Stamford Branch,            
as Administrative Agent and as a Lender,
	
	by
	
		    /s/ Darlene Arias 
		Name: Darlene Arias
		Title: Director

						
	by
	
		    /s/ Craig Pearson 
		Name: Craig Pearson
		Title: Associate Director

Exhibit 10.1

						
	CIT Bank, N.A., as a Lender,	
	by
	
		     /s/ Stewart McLeod 
		Name: Stewart McLeod
		Title: Director

Exhibit 10.1

						
	Morgan Stanley Senior Funding, Inc.,            
as a Lender,
	
	by
	
		     /s/ Jake Dowden 
		Name: Jake Dowden
		Title: Vice President

Exhibit 10.1

						
	Siemens Financial Services, Inc.,            
as a Lender,
		
	by
		
		     /s/ John Finore 	
		Name: John Finore	
		Title: Vice President

	
			
			
	/s/ Maria Ler
	     /s/ Maria Ler 	
	Name: Maria Ler
		
	Title: Vice President
		

Exhibit 10.1

			
	Basic Energy Receivables, LLC, as Borrower

	By: _/s/ T.M. “Roe” Patterson

	Name:   T.M. “Roe” Patterson 
	Title:   President and CEO 

Exhibit 10.1

			
	Basic Energy Services, L.P., as Servicer 
	
	By: Basic Energy Services GP, LLC, its General Partner 
	
	By: Basic Energy Services, Inc., its  
	Sole Member 
	
	
	By: _/s/ T.M. “Roe” Patterson

	Name:   T.M. “Roe” Patterson 
	Title:   President and CEO 
	

Exhibit 10.1

			
	Basic Energy Services, Inc., as Performance Guarantor 
	
	By: _/s/ T.M. “Roe” Patterson

	Name:   T.M. “Roe” Patterson 
	Title:   President and CEO 

Exhibit 10.1

Agreed to and acknowledged by the undersigned solely with respect to Section 6 hereof. 

			
	BER Holdco, LLC, as SPV Holdco 
	
	By: _/s/ T.M. “Roe” Patterson

	Name:   T.M. “Roe” Patterson 
	Title:   President and Manager

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}]]