Document:

_

____________________________________________________________________________________________________________________________________________________________

____________________________________________________________________________________________________________________________________________________________

LOUISIANA PUBLIC FACILITIES AUTHORITY

AND

IMTT-FINCO, LLC

____________________________________

LOAN AGREEMENT

____________________________________

Dated as of November 1, 2010

The interest of the LOUISIANA PUBLIC FACILITIES AUTHORITY (the “Issuer”) in this Loan Agreement has been assigned (except for “Reserved Rights” defined in this Loan Agreement) pursuant to the Indenture of Trust dated as of the date hereof from the Issuer to WELLS FARGO BANK, NATIONAL ASSOCIATION, as trustee (the “Trustee”), and is subject to the security interest of the Trustee thereunder.

____________________________________________________________________________________________________________________________________________________________

____________________________________________________________________________________________________________________________________________________________

LOAN AGREEMENT

TABLE OF CONTENTS

(This Table of Contents is not a part of the Loan Agreement and is only for convenience of reference.)

			
	ARTICLE I DEFINITIONS

	  2

	Section 1.01

	Definitions.

	  2

	Section 1.02

	Uses of Phrases.

	  3

	ARTICLE II REPRESENTATIONS, COVENANTS AND WARRANTIES

	  4

	Section 2.01

	Representations, Covenants and Warranties of the Issuer.

	  4

	Section 2.02

	Representations, Covenants and Warranties of the Company.

	  4

	Section 2.03

	Tax Exempt Status of the Bonds.

	  5

	Section 2.04

	Notice of Determination of Taxability.

	  5

	Section 2.05

	State Bond Commission Reporting Requirements.

	  5

	ARTICLE III ACQUISITION AND CONSTRUCTION OF THE PROJECT; ISSUANCE OF THE BONDS

	  6

	Section 3.01

	Agreement to Acquire, Construct, Improve and Equip the Project.

	  6

	Section 3.02

	Agreement to Issue the Bonds; Application of Bond Proceeds.

	  6

	Section 3.03

	Disbursements from the Project Fund.

	  6

	Section 3.04

	Furnishing Documents to the Trustee.

	  6

	Section 3.05

	Establishment of Completion Date.

	  6

	Section 3.06

	Company Required to Pay in Event Project Fund Insufficient.

	  7

	Section 3.07

	Special Arbitrage Certifications.

	  7

	ARTICLE IV LOAN PROVISIONS; SUBSTITUTE CREDIT FACILITY

	  9

	Section 4.01

	Loan of Proceeds.

	  9

	Section 4.02

	Amounts Payable.

	  9

	Section 4.03

	Obligations of Company Unconditional.

	12

	Section 4.04

	Substitute Credit Facility.

	13

	Section 4.05

	Substitute Confirming Letter of Credit.

	13

	ARTICLE V PREPAYMENT AND REDEMPTION

	14

	Section 5.01

	Prepayment and Redemption.

	14

	ARTICLE VI SPECIAL COVENANTS

	15

	Section 6.01

	No Warranty of Condition or Suitability by Issuer.

	15

	Section 6.02

	Access to the Project.

	15

	Section 6.03

	Further Assurances and Corrective Instruments.

	15

	Section 6.04

	Issuer and Company Representatives.

	15

	Section 6.05

	Financing Statements.

	15

	Section 6.06

	Covenant to Provide Ongoing Disclosure.

	16

	Section 6.07

	Notice of Control.

	16

i

			

			
	Section 6.08

	Acknowledgement and Covenant Regarding Commercial Paper or Long Term Period.

	16

	Section 6.09

	Environmental Matters.

	16

	ARTICLE VII ASSIGNMENT, SELLING, LEASING; INDEMNIFICATION; REDEMPTION

	17

	Section 7.01

	Assignment, Selling and Leasing.

	17

	Section 7.02

	Release and Indemnification Covenants.

	17

	Section 7.03

	Issuer to Grant Security Interest to Trustee.

	18

	Section 7.04

	Indemnification of Trustee.

	18

	ARTICLE VIII DEFAULTS AND REMEDIES

	19

	Section 8.01

	Defaults Defined.

	19

	Section 8.02

	Remedies on Default.

	20

	Section 8.03

	No Remedy Exclusive.

	20

	Section 8.04

	Agreement to Pay Attorneys’ Fees and Expenses.

	21

	Section 8.05

	No Additional Waiver Implied by One Waiver.

	21

	ARTICLE IX MISCELLANEOUS

	22

	Section 9.01

	Term of Agreement.

	22

	Section 9.02

	Notices.

	22

	Section 9.03

	Binding Effect.

	22

	Section 9.04

	Severability.

	23

	Section 9.05

	Amounts Remaining in Funds.

	23

	Section 9.06

	Amendments, Changes and Modifications.

	23

	Section 9.07

	Execution in Counterparts.

	23

	Section 9.08

	Applicable Law.

	23

	Section 9.09

	Captions.

	23

EXHIBIT A - Project Description

EXHIBIT B - Form of Requisition

EXHIBIT C - Certificate of Completion

ii

LOAN AGREEMENT

THIS LOAN AGREEMENT, dated as of November 1, 2010, between the LOUISIANA
PUBLIC FACILITIES AUTHORITY, a public trust and public corporation of the State of Louisiana created and existing under the Constitution and Laws of the State of Louisiana (the “Issuer”) and
IMTT-Finco, LLC, a limited liability company organized and existing under the laws of the State of Delaware (the “Company”);

W I T N E S S E T H:

That the parties hereto, intending to be legally bound hereby, and for and in consideration of the premises and the mutual
covenants hereinafter contained, do hereby covenant, agree and bind themselves as follows: provided, that any obligation of the Issuer created by or arising out of this Agreement shall never constitute a debt or
a pledge of the faith and credit or the taxing power of the Issuer or any political subdivision or taxing district of the State of Louisiana but shall be payable solely out of the Trust Estate (as defined in the
Indenture), anything herein contained to the contrary by implication or otherwise notwithstanding:

ARTICLE I

DEFINITIONS

Section 1.01

Definitions.

All capitalized, undefined terms used herein shall have the same meanings as used in Article I of the hereinafter
defined Indenture.  In addition, the following words and phrases shall have the following meanings:

“Administrative Agent” means Branch Banking and Trust Company, or its successors, as Administrative Agent under
the Credit Agreement.

“Confirming Bank” means the provider of a Confirming Letter of Credit or a Substitute Confirming Letter of Credit. 

“Confirming Letter of Credit” means a letter of credit issued by a Confirming Bank to the Trustee relating to the
Bonds, including any Substitute Confirming Letter of Credit provided by the Company in accordance with Section 4.05 of the Agreement.

 “Cost” with respect to the Project shall be deemed to include all items permitted to be financed under the
provisions of the Code and the Act.

“Credit Agreement” means the Guaranty and Credit Agreement dated as of November 1, 2010 among the Company,
certain affiliates of the Company, the lenders a party thereto and the Administrative Agent, and all supplements and amendments thereto.

“Default” means any Default under this Agreement as specified in and defined by Section 8.01 hereof.

“Indenture” means the Indenture of Trust dated as of this date between the Issuer and the Trustee, pursuant to
which the Bonds are authorized to be issued, and any amendments and supplements thereto.

“Issuance Costs” means all costs that are treated as costs of issuing or carrying the Bonds under existing Treasury
Department regulations and rulings, including, but not limited to, (a) commitment and origination fees payable to the Bondholders; (b) counsel fees (including bond counsel, Issuer’s counsel, Bondholder’s
counsel, Administrative Agent’s counsel and Company counsel, as well as any other specialized counsel fees incurred in connection with the issuance of the Bonds); (c) financial advisory fees incurred in
connection with the issuance of the Bonds; (d) Trustee fees incurred in connection with the issuance of the Bonds; (e) paying agent and certifying and authenticating agent fees related to issuance of the
Bonds; (f) accountant fees related to the issuance of the Bonds; (g) printing costs of the Bonds; (h) publication costs associated with the financing proceedings; and (i) costs of engineering and
feasibility studies necessary to the issuance of the Bonds.

“Net Proceeds” means the proceeds of the Bonds reduced by amounts in a reasonably required reserve or replacement fund.

2

“Project” means the facilities described in Exhibit “A” hereto.

“Qualified Project Costs” means Costs and expenses of the Project which constitute land costs or costs for property
of a character subject to the allowance for depreciation excluding specifically working capital and inventory costs, provided, however, that (i) costs or expenses paid (a) prior to the date of Hurricane Katrina, or
(b) on or after December 31, 2009, and more than sixty (60) days prior to the adoption by the Issuer of its resolution on May 11, 2010, declaring its intent to reimburse Project expenditures with Bond proceeds, shall not
be deemed to be Qualified Project Costs; (ii) Issuance Costs shall not be deemed to be Qualified Project Costs; (iii) interest during the Construction Period shall be allocated between Qualified Project Costs and
other Costs and expenses to be paid from the proceeds of the Bonds; (iv) interest following the Construction Period shall not constitute a Qualified Project Cost; (v) letter of credit fees and municipal bond
insurance premiums which represent a transfer of credit risk shall be allocated between Qualified Project Costs and other costs and expenses to be paid from the proceeds of the Bonds; and (vi) letter of credit fees
and municipal bond insurance premiums which do not represent a transfer of credit risk shall not constitute Qualified Project Costs.

“Requisition” means a written request for a disbursement from the Project Fund, signed by a Company Representative,
substantially in the form attached hereto as Exhibit “B” and satisfactorily completed as contemplated by said form.

“Reserved Rights” means amounts payable to the Issuer under Sections 4.02(b), 6.09, 7.02 and 8.04 hereof.

“State” means the State of Louisiana.

“Substitute Confirming Letter of Credit” means a letter of credit, line of credit, insurance policy or other credit
facility securing the payment of the principal and Purchase Price of, redemption premium (if any) and interest on the Bonds, delivered to the Trustee in accordance with Section 4.05 hereof.

“Term of Agreement” means the term of this Agreement as specified in Section 9.01 hereof.

Section 1.02

Uses of Phrases.

Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders.
Unless the context shall otherwise indicate, the words “Bond,” “Bondholder,” “Owner,” “registered owner” and “person” shall include the plural as well as the singular
number, and the word “person” shall include corporations and associations, including public bodies, as well as persons.  Any percentage of Bonds, specified herein for any purpose, is to be figured on the
unpaid principal amount thereof then Outstanding.  All references herein to specific Sections of the Code refer to such Sections of the Code and all successor or replacement provisions thereto.

3

ARTICLE II

REPRESENTATIONS, COVENANTS AND WARRANTIES

Section 2.01

Representations, Covenants and Warranties of the Issuer.

The Issuer represents, covenants and warrants that:

(a)

The Issuer is a public trust and public corporation of the State of Louisiana.  Under the provisions of the
Act, the Issuer is authorized to enter into the transactions contemplated by this Agreement and the Indenture and to carry out its obligations hereunder and thereunder.  The Issuer has been duly authorized to execute
and deliver this Agreement and the Indenture.

(b)

The Issuer covenants that it will not pledge the amounts derived from this Agreement other than as contemplated by
the Indenture.

Section 2.02

Representations, Covenants and Warranties of the Company.

The Company represents, covenants and warrants that:

(a)

The Company is a limited liability company duly organized and validly existing under the laws of the State of
Delaware.  The Company is not in violation of any provision of its Articles of Organization, has the power to enter into this Agreement, and has duly authorized the execution and delivery of this Agreement, and is
qualified to do business and is in good standing under the laws of the State of Louisiana.

(b)

The Company agrees that during the Term of Agreement it will maintain its existence, will not dissolve or otherwise
dispose of all or substantially all of its assets and will not consolidate with or merge into another legal entity or permit one or more other legal entities to consolidate with or merge into it, without the prior written
consent of the Credit Provider (during any Credit Facility Period) and the Trustee (during any Interest Period that is not a Credit Facility Period).

(c)

Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated hereby
and thereby, nor the fulfillment of or compliance with the terms and conditions hereof or thereof conflicts with or results in a breach of the terms, conditions, or provisions of any agreement or instrument to which the
Company is now a party or by which the Company is bound, or constitutes a default under any of the foregoing, or results in the creation or imposition of any lien, charge or encumbrance whatsoever upon any of the property
or assets of the Company under the terms of any such instrument or agreement.

(d)

There is no action, suit, proceeding, inquiry or investigation, at law or in equity, before or by any court, public
board or body, known to be pending or threatened against or affecting the Company or any of its officers, nor to the best knowledge of the Company is there any basis therefor, wherein an unfavorable decision, ruling, or
finding would materially adversely affect the transactions contemplated by this Agreement or 

4

which would adversely affect, in any way, the validity or enforceability of the Bonds, this Agreement, or any agreement or instrument
to which the Company is a party, used or contemplated for use in the consummation of the transactions contemplated hereby.

(e)

The Project is of the type authorized and permitted by the Act, and its estimated Cost is not less than $100,000,000.

(f)

The proceeds from the sale of the Bonds will be used only for payment of Costs of the Project.

(g)

The Company will use due diligence to cause the Project to be operated in accordance with the laws, rulings,
regulations and ordinances of the State and the departments, agencies and political subdivisions thereof.  The Company has obtained or will obtain all requisite approvals of the State and of other federal, state,
regional and local governmental bodies for the acquisition, construction, improving and equipping of the Project.

(h)

The Company will fully and faithfully perform all the duties and obligations which the Issuer has covenanted and
agreed in the Indenture to cause the Company to perform and any duties and obligations which the Company is required in the Indenture to perform.  The foregoing shall not apply to any duty or undertaking of the Issuer
which by its nature cannot be delegated or assigned.

Section 2.03

Tax-Exempt Status of the Bonds.

The Company hereby represents, warrants and agrees that the Tax Regulatory Agreement executed and delivered by the Company concurrently
with the issuance and delivery of the Bonds is true, accurate and complete in all material respects as of the date on which executed and delivered.

Section 2.04

Notice of Determination of Taxability.

Promptly after the Company first becomes aware of any Determination of Taxability, the Company shall give written notice thereof
to the Issuer, the Administrative Agent and the Trustee.

Section 2.05

State Bond Commission Reporting Requirements.

The Company hereby covenants and agrees that it shall furnish to the Issuer and Bond Counsel such information as is necessary to satisfy
the reporting requirements of L.S.A. R.S. 39:1405.4, as amended from time to time.  This information shall be delivered to the Issuer and Bond Counsel not less than five (5) Business Days prior to the date such
information is required to be reported to the Louisiana State Bond Commission.

5

ARTICLE III

ACQUISITION AND CONSTRUCTION

OF THE PROJECT;

ISSUANCE OF THE BONDS

Section 3.01

Agreement to Acquire, Construct, Improve and Equip the Project.

The Company agrees to make or cause to be made all contracts and do or cause to be done all things necessary for the acquisition,
construction, improving, and equipping of the Project.  The Company further agrees that it will, or will cause a related entity to, acquire, construct, improve, and equip the Project with all reasonable dispatch
and use its best efforts to cause acquisition, construction, improving, equipping, and occupancy of the Project to be completed by December 15, 2013, or as soon thereafter as may be practicable, delays caused by force
majeure as defined in Section 8.01 hereof only excepted; but if for any reason such acquisition, construction, improving and equipping is not completed by said date there shall be no resulting liability
on the part of the Company and no diminution in or postponement of the payments required in Section 4.02 hereof to be paid by the Company.

Section 3.02

Agreement to Issue the Bonds; Application of Bond Proceeds.

In order to provide funds for the payment of the Cost of the Project, the Issuer, concurrently with the execution of this Agreement,
will issue, sell, and deliver the Bonds and deposit the net proceeds thereof with the Trustee in the Project Fund.

Section 3.03

Disbursements from the Project Fund.

The Issuer has, in the Indenture, authorized and directed the Trustee to make disbursements from the Project Fund to pay the Costs of
the Project, or to reimburse the Company for any Cost of the Project paid by the Company.  Except with respect to payment of Issuance Costs on the date of issuance of the Bonds, the Trustee shall not make any disbursement
from the Project Fund until the Company shall have provided the Trustee with a Requisition.

Section 3.04

Furnishing Documents to the Trustee.

The Company agrees to cause such Requisitions to be directed to the Trustee as may be necessary to effect payments out of the Project
Fund in accordance with Section 3.03 hereof.

Section 3.05

Establishment of Completion Date.

(a)

The Completion Date shall be evidenced to the Issuer and the Trustee by a certificate signed by a Company Representative, as attached
as Exhibit "C" hereto stating that, except for amounts retained by the Trustee at the Company’s direction to pay any Cost of the Project not then due and payable, (i) construction of the Project has been
completed and all costs of labor, services, materials and supplies used in such construction have been paid, (ii) all equipment for the Project has been installed, such equipment so installed is suitable and sufficient
for the operation of the Project, and all costs and expenses incurred in the acquisition 

6

and installation of such equipment have been paid, and (iii) all other facilities necessary in connection with the Project have been acquired,
constructed, improved, and equipped and all costs and expenses incurred in connection therewith have been paid. Notwithstanding the foregoing, such certificate shall state that it is given without prejudice to any
rights against third parties which exist at the date of such certificate or which may subsequently come into being.  Forthwith upon completion of the acquisition, con­struc­tion, improving, and equipping
of the Project, the Company agrees to cause such certificate to be furnished to the Issuer and the Trustee.  Upon receipt of such certificate, the Trustee shall retain in the Project Fund a sum equal to the amounts
necessary for payment of the Costs of the Project not then due and payable according to such certificate.  If any such amounts so retained are not subsequently used, prior to any transfer of said amounts to the Bond
Fund as provided below, the Trustee shall give notice to the Company of the failure to apply said funds for payment of the Costs of the Project.  Any amount not to be retained in the Project Fund for payment of the
Costs of the Project, and all amounts so retained but not subsequently used, shall be transferred by the Trustee into the Bond Fund.

(b)

If at least ninety-five percent (95%) of the Net Proceeds of the Bonds have not been used to pay Qualified Project Costs, any amount
(exclusive of amounts retained by the Trustee in the Project Fund for payment of Costs of the Project not then due and payable) remaining in the Project Fund shall be transferred by the Trustee into the Bond Fund and used
by the Trustee to redeem, or to cause the redemption of, Bonds on the earliest redemption date permitted by the Indenture without a premium, or (b) for any other purpose provided that the Trustee is furnished with an opinion
of Bond Counsel to the effect that such use is lawful under the Act and will not require that interest on the Bonds be included in gross income for federal income tax purposes.  Until used for one or more of the foregoing
purposes, such segregated amount may be invested as permitted by the Indenture provided that prior to any such investment the Trustee is provided with an opinion of Bond Counsel to the effect that such investment will not
require that interest on the Bonds be included in gross income for federal income tax purposes.

Section 3.06

Company Required to Pay in Event Project Fund Insufficient.

In the event the moneys in the Project Fund available for payment of the Costs of the Project should not be sufficient to pay the Costs
of the Project in full, the Company agrees to complete the Project or cause the Project to be completed and to pay that portion of the Costs of the Project in excess of the moneys available therefor in the Project Fund.
The Issuer does not make any warranty, either express or implied, that the moneys paid into the Project Fund and available for payment of the Costs of the Project will be sufficient to pay all of the Costs of the Project.
The Company agrees that if after exhaustion of the moneys in the Project Fund, the Company should pay any portion of the Costs of the Project pursuant to the provisions of this Section, the Company shall not be entitled to
any reimbursement therefor from the Issuer, the Trustee or the Owners of any of the Bonds, nor shall the Company be entitled to any diminution of the amounts payable under Section 4.02 hereof.

Section 3.07

Special Arbitrage Certifications.

The Company and the Issuer covenant not to cause or direct any moneys on deposit in any fund or account to be used in a manner which would
cause the Bonds to be 

7

classified as “arbitrage bonds” within the meaning of Section 148 of the Code, and the Company certifies and covenants to and for the benefit of
the Issuer and the Owners of the Bonds that so long as there are any Bonds Outstanding, moneys on deposit in any fund or account in connection with the Bonds, whether such moneys were derived from the proceeds of the sale of
the Bonds or from any other sources, will not be used in a manner which will cause the Bonds to be classified as “arbitrage bonds” within the meaning of Section 148 of the Code.

8

ARTICLE IV

LOAN PROVISIONS; SUBSTITUTE

CREDIT FACILITY

Section 4.01

Loan of Proceeds.

The Issuer agrees, upon the terms and conditions contained in this Agreement and the Indenture, to lend to the Company the proceeds
received by the Issuer from the sale of the Bonds.  Such proceeds shall be disbursed to or on behalf of the Company as provided in Section 3.03 hereof.

Section 4.02

Amounts Payable.

(a)

The Company hereby covenants and agrees to repay the loan, as follows:  on or before any Interest Payment Date for the Bonds or any
other date that any payment of interest, premium, if any, or principal or Purchase Price is required to be made in respect of the Bonds pursuant to the Indenture, until the principal of, premium, if any, and interest on the
Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, in immediately available funds, a sum which, together with any other moneys available for such payment
in any account of the Bond Fund, will enable the Trustee to pay the amount payable on such date as Purchase Price or principal of (whether at maturity or upon redemption or acceleration or otherwise), premium, if any, and
interest on the Bonds as provided in the Indenture; provided, however, that the obligation of the Company to make any payment hereunder shall be deemed satisfied and discharged to the extent of the corresponding payment
made by a Credit Provider (if any) to the Trustee under a Credit Facility (if any) or by the Confirming Bank (if any) under the Confirming Letter of Credit (if any). While the Bonds bear interest at a Bank Rate, the Company
agrees to pay the Purchase Price on the Bonds when due pursuant to Section 4.01 of the Indenture.

It is understood and agreed that all payments payable by the Company under subsection (a) of this Section 4.02 are
assigned by the Issuer to the Trustee for the benefit of the Owners of the Bonds.  The Company assents to such assignment. The Issuer hereby directs the Company and the Company hereby agrees to pay to the Trustee at
the Principal Office of the Trustee all payments payable by the Company pursuant to this subsection.

(b)

 

The Company will also pay: 

(i)

the reasonable fees and expenses of the Issuer related to the issuance of the Bonds, including, without limitation, the acceptance
fee of the Issuer in the amount of $50,000 payable on the date of issuance of the Bonds (provided, such amount may be paid out of bond proceeds) and an annual administrative payment payable directly to the Issuer on June
1 of each year in an annual amount equal to 1/10th of 1% of the principal amount of all Bonds Outstanding on January 2 of each year.  The administrative payments shall be used for purposes of paying
administrative and related costs of the Issuer, but shall not include Trustee fees incurred by the Issuer,  and agrees that it will notify the Company in writing prior to 

9

March 20th of each calendar year hereafter if it shall not waive such administrative payments for such year; and 

(ii)

the reasonable fees and expenses of such accountants, consultants, attorneys and other experts as may be engaged by the Issuer,
the Administrative Agent or the Trustee to prepare such audits, financial statements or opinions or provide such other services as are reasonably required under this Agreement, the Indenture or the Tax Regulatory Agreement; and

(iii)

all taxes and assessments of any type or character charged to the Issuer, the Administrative Agent or to the Trustee affecting the
amount available to the Issuer, the Administrative Agent or the Trustee from payments to be received hereunder or in any way arising due to the transactions contemplated hereby (including taxes and assessments assessed or
levied by any public agency or governmental authority of whatever character having power to levy taxes or assessments) but excluding any taxes based upon the capital and/or income of the Trustee, the Administrative Agent or
any other person other than the Company; provided, however, that the Company shall have the right to protest any such taxes or assessments assessed or levied upon them and that the Company shall have the right to withhold
payment of any such taxes or assessments pending disposition of any such protest or contest unless such withholding, protest or contest would materially adversely affect the rights or interests of the Issuer, the Administrative
Agent or the Trustee. 

          The forgoing payments shall be billed to the Company by the Issuer, the Administrative Agent or
the Trustee from time to time, together with (x) a statement executed by a duly authorized officer or agent of the Issuer, the Administrative Agent or the Trustee, as the case may be, certifying that the amount billed has been
incurred or paid by the Issuer, the Administrative Agent or the Trustee for one or more of the above items, and (y) a copy of the invoice or statement for the amount so incurred or paid.  Amounts so billed shall be paid by
the Company within thirty (30) days after receipt of the bill by the Company unless, in the case of expenditures described under clause (iii) above, the Company is contesting such amounts in good faith. 

(c)

The Company will also pay the reasonable fees and expenses of the Trustee under the Indenture and all other amounts which may be payable
to the Trustee under Section 10.02 of the  Indenture, such amounts to be paid directly to the Trustee for the Trustee’s own account as and when such amounts become due and payable.

(d)

The Company covenants, for the benefit of the Owners of the Bonds, to pay or cause to be paid, to the Trustee, such amounts as shall be
necessary to enable the Trustee to pay the Purchase Price of Bonds delivered to it for purchase, all as more particularly described in Sections 4.01 and 4.02 of the Indenture; provided,
however, that the obligation of the Company to make any such payment under this Section 4.02(d) shall be reduced by the amount of moneys available for such payment described in Section 4.03(a)
of the Indenture; and provided, further, that the obligation of the Company to make any payment under this subsection (d) shall be 

10

deemed to be satisfied and discharged to the extent of the corresponding payment made by a Credit Provider (if any) under a Credit Facility (if any) or by
the Confirming Bank (if any) under the Confirming Letter of Credit (if any).

(e)

The Company covenants, for the benefit of the Owners of the Bonds, to pay or cause to be paid to the Trustee when due any other amounts
payable under the Bonds, including, but not limited to the following while the Bonds bear interest at a Bank Rate:  

(i)

In the event of a Determination of Taxability (as defined in the Bonds), and upon demand of the Owner or any prior
Owner, the Company shall pay or cause to be paid to the Trustee such additional amount as shall be necessary to provide that interest on the Bonds shall have been payable at the Taxable Adjusted LIBOR Rate (as defined in
the Bonds) from the Date of Taxability (as defined in the Bonds).

(ii)

Upon a Determination of Non-De Minimis Exception Status (as defined in the Bonds), and upon demand of the Owner or
any prior Owner, the Company shall pay or cause to be paid to the Trustee such additional amount as shall be necessary to provide that interest on the Bonds shall have been payable at the Adjusted Non-De Minimis LIBOR Rate
(as defined in the Bonds) from the Date of Non-De Minimis Exception Status (as defined in the Bonds).

(iii)

Upon a Determination of Taxability or a Determination of Non-De Minimis Exception Status, the Company shall also
pay or cause to be paid to the Trustee upon demand of such Owner or prior Owner any taxes, interest, penalties or other charges assessed against or payable by such Owner or prior Owner and attributable to such Determination
of Taxability or Determination of Non-De Minimis Exception Status and all reasonable administrative, out of pocket and other expenses incurred by such Owner or prior Owner which are attributable to such event, including,
without limitation, the costs incurred by such Owner or prior Owner to amend any of its tax returns, notwithstanding the repayment of the entire principal amount of the Bonds or any transfer or assignment of the Bonds.

(iv)

So long as any portion of the principal amount of the Bonds or interest thereon remains unpaid, if (i) any law,
rule, regulation or executive order is or has been enacted or promulgated by any public body or governmental agency which changes the basis of taxation of payments to any Owner or prior Owner of principal or interest
payable pursuant to the Bonds, but excluding changes in the rates of tax applicable to the overall net income of any Owner or prior Owner, or (ii) as a result of action by any public body or governmental agency or the
occurrence of a Determination of Non-De Minimis Exception Status, any payment is required to be made by, or any federal, state or local income tax deduction is denied to, any Owner or prior Owner of the Bonds by reason
of the ownership of, borrowing money to invest in, or receiving principal of or interest on the Bonds, the Company agrees to pay or cause to be paid to the Trustee such additional amounts as are necessary to reimburse
and indemnify on demand therefor, each such Owner and prior Owner against, any loss, cost, charge or expense with respect to any such change, payment or loss of deduction.

11

(v)

The Company agrees to pay the Owners a late fee on any payments past due for fifteen (15) or more days in an amount
equal to four percent (4%) of the amount of payment past due.  When any payment is past due for fifteen (15) or more days, subsequent payments shall first be applied to past due balances.  This provision for late
charges shall not be deemed to extend the time for payment or be a “grace period” or “cure period” that gives the Company a right to cure such default.  Imposition of late charges is not contingent
upon the giving of any notice or lapse of any cure period.

(vi)

The Company will pay or cause to be paid to the Trustee on demand all amounts required under the Bonds to be paid
during any contest of a Determination of Taxability.

(vii)

The obligations of the Company contained in this subparagraph (e) shall survive the termination of this Agreement
and the payment in full of the Bonds.

(f)

In the event the Company should fail to make any of the payments required in this Section 4.02, the item or
installment so in default shall continue as an obligation of the Company until the amount in default shall have been fully paid, and the Company agrees to pay the same with interest thereon, to the extent permitted by
law, from the date when such payment was due, at the rate of interest equal to the Default Rate.

Section 4.03

Obligations of Company Unconditional.

The obligations of the Company to make the payments required in Section 4.02 and to perform and observe the other
agreements contained herein shall be absolute and unconditional and shall not be subject to any defense or any right of setoff, counterclaim or recoupment arising out of any breach by the Issuer, the
Administrative Agent, the Owner or the Trustee of any obligation to the Company, whether hereunder or otherwise, or out of any indebtedness or liability at any time owing to the Company by the Issuer,
the Administrative Agent, the Owner or the Trustee, and, until such time as the principal of, premium, if any, and interest on the Bonds shall have been fully paid or provision for the payment thereof
shall have been made in accordance with the Indenture, the Company (i) will not suspend or discontinue any payments provided for in Section 4.02 hereof, (ii) will perform
and observe all other agreements contained in this Agreement and (iii) except as otherwise provided herein, will not terminate the Term of Agreement for any cause, including, without limiting the
generality of the foregoing, failure of the Company to complete the acquisition, construction, improving and equipping of the Project, the occurrence of any acts or circumstances that may constitute
failure of consideration, eviction or constructive eviction, destruction of or damage to the Project, the taking by eminent domain of title to or temporary use of any or all of the  Project,
commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State or any political subdivision of either thereof or any failure of the Issuer,
the Administrative Agent, the Owner or the Trustee to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Agreement.
Nothing contained in this Section shall
be
construed to release the Issuer from the performance of any of the agreements on its part herein contained, and in the event the Issuer or 

12

the Trustee should fail to perform any such agreement on its part, the Company may institute such action against the Issuer or the Trustee as
the Company may deem necessary to compel performance so long as such action does not abrogate the obligations of the Company contained in the first sentence of this Section.

Section 4.04

Substitute Credit Facility.

Subject to the conditions set forth in this Section 4.04, the Company may provide for the delivery to the Trustee
of a Substitute Credit Facility.  The Company shall furnish written notice to the Trustee, not less than twenty days prior to the Mandatory Purchase Date, (a) notifying the Trustee that the Company is
exercising its option to provide for the delivery of a Substitute Credit Facility to the Trustee, (b) setting forth the Mandatory Purchase Date in connection with the delivery of such Substitute Credit
Facility, which shall in any event be an Interest Payment Date that is not less than two Business Days prior to the expiration date of the Credit Facility then in effect with respect to the Bonds, and (c)
instructing the Trustee to furnish notice to the Bondholders regarding the Mandatory Purchase Date at least fifteen days prior to the Mandatory Purchase Date, as more fully described in Section
4.01(b) of the Indenture and Exhibit “B” thereto.  Any Substitute Credit Facility shall be delivered to the Trustee prior to such Mandatory Purchase Date and shall be effective
on and after such Mandatory Purchase Date. On or before the date of such delivery of a Substitute Credit Facility to the Trustee, the Company shall furnish to the Trustee (a) a written opinion of Bond
Counsel stating that the delivery of such Substitute Credit Facility will not adversely affect the exclusion from gross income of interest on the Bonds for federal income tax purposes; and (b) a written
opinion of counsel to the Substitute Credit Provider to the effect that the Substitute Credit Facility is a legal, valid, binding and enforceable obligation of the Substitute Credit Provider in accordance with its terms. 

Section 4.05

Substitute Confirming Letter of Credit.

Subject to the conditions set forth in this Section 4.05, the Company may provide for the delivery to the Trustee
of a Substitute Confirming Letter of Credit.  The Company shall furnish written notice to the Trustee, not less than twenty days prior to the Mandatory Purchase Date, (a) notifying the Trustee that the
Company is exercising its option to provide for the delivery of a Substitute Confirming Letter of Credit to the Trustee, (b) setting forth the Mandatory Purchase Date in connection with the delivery of such
Substitute Confirming Letter of Credit, which shall in any event be an Interest Payment Date that is not less than two Business Days prior to the expiration date of the Confirming Letter of Credit then in effect
with respect to the Bonds, and (c) instructing the Trustee to furnish notice to the Bondholders regarding the Mandatory Purchase Date at least fifteen days prior to the Mandatory Purchase Date, as more fully
described in Section 4.01(b) of the Indenture and Exhibit “B” thereto.  Any Substitute Confirming Letter of Credit shall be delivered to the Trustee prior to such Mandatory Purchase
Date and shall be effective on and after such Mandatory Purchase Date. On or before the date of such delivery of a Substitute Confirming Letter of Credit to the Trustee, the Company shall furnish to the Trustee
(a) a written opinion of Bond Counsel stating that the delivery of such Substitute Confirming Letter of Credit will not adversely affect the exclusion from gross income of interest on the Bonds for federal
income tax purposes; and (b) a written opinion of counsel to the Substitute Confirming Letter of Credit Provider to the effect that the Substitute Confirming Letter of Credit is a legal, valid, binding and
enforceable obligation of the Substitute Confirming Letter of Credit Provider in accordance with its terms.

13

ARTICLE V

PREPAYMENT AND REDEMPTION

Section 5.01

Prepayment and Redemption.

The Company shall have the option to prepay its obligations hereunder at the times and in the amounts as necessary to exercise
its option to cause the Bonds to be redeemed in whole or in part as set forth in the Indenture and in the Bonds.  The Company hereby agrees that it shall prepay its obligations hereunder at the times and in the
amounts as necessary to accomplish the mandatory redemption of the Bonds as set forth in the Indenture and in the Bonds.  The Issuer, at the request of the Company, shall forthwith take all steps (other than the
payment of the money required for such redemption) necessary under the applicable redemption provisions of the Indenture to effect redemption of all or part of the Outstanding Bonds, as may be specified by the Company,
on the date established for such redemption.

14

ARTICLE VI

SPECIAL COVENANTS

Section 6.01

No Warranty of Condition or Suitability by Issuer.

THE ISSUER MAKES NO WARRANTY, EITHER EXPRESS OR IMPLIED, AS TO THE PROJECT OR THE CONDITION THEREOF, OR THAT THE PROJECT WILL BE
SUITABLE FOR THE PURPOSES OR NEEDS OF THE COMPANY.  THE ISSUER MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, THAT THE COMPANY WILL HAVE QUIET AND PEACEFUL POSSESSION OF THE PROJECT.  THE ISSUER
MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO THE MERCHANTABILITY, CONDITION OR WORKMANSHIP OF ANY PART OF THE PROJECT OR ITS SUITABILITY FOR THE COMPANY’S PURPOSES.

Section 6.02

Access to the Project.

The Company agrees that the Issuer, the Credit Provider (if any) and the Trustee and their duly authorized agents, attorneys,
experts, engineers, accountants and representatives shall have the right to inspect the Project at all reasonable times and on reasonable notice.  The Issuer, the Credit Provider (if any) and the Trustee and
their duly authorized agents shall also be permitted, at all reasonable times, to examine the books and records of the Company with respect to the Project.

Section 6.03

Further Assurances and Corrective Instruments.

The Issuer and the Company agree that they will, from time to time, execute, acknowledge and deliver, or cause to be executed,
acknowledged and delivered, such supplements hereto and such further instruments as may reasonably be required for carrying out the expressed intention of this Agreement.

Section 6.04

Issuer and Company Representatives.

Whenever under the provisions of this Agreement the approval of the Issuer or the Company is required or the Issuer or the Company
is required to take some action at the request of the other, such approval or such request shall be given for the Issuer by an Issuer Representative and for the Company by a Company Representative.  The Trustee
shall be authorized to act on any such approval or request.

Section 6.05

Financing Statements.

The Company agrees to execute and file or cause to be executed and filed any and all financing statements or amendments thereof or
continuation statements necessary to perfect and continue the perfection of the security interests granted in the Indenture.  The Company shall pay all costs of filing such instruments. If the Company fails to file
such statements, then the Trustee shall make such filings.

15

Section 6.06

Covenant to Provide Ongoing Disclosure.

The Company hereby covenants and agrees that, upon the exercise by the Company of the Conversion Option to elect a Long Term Period,
the Company shall enter into a written undertaking for the benefit of the holders of the Bonds, as required by Section (b)(5)(i) of Securities and Exchange Commission Rule 15c2-12 under the Securities Exchange Act of 1934,
as amended (17 CFR Part 240, §240.15c2-12) (the “Rule”); provided, however, that the Company shall not be obligated to enter into such written undertaking if the Company shall furnish to the Trustee, prior to
the exercise of the Conversion Option, an opinion of Bond Counsel that, notwithstanding such election by the Company, the Rule is not applicable to the Bonds.

Section 6.07

Notice of Control.

 The Company shall provide written notice to the Trustee and the Remarketing Agent (if any) 30 days prior to the consummation of
any transaction that would result in the Company controlling the Credit Provider (if any) or the Confirming Bank (if any) or being controlled by the Credit Provider (if any) or the Confirming Bank (if any) within the
meaning of Section 2(a)(9) of the Investment Company Act of 1940.

Section 6.08

Acknowledgement and Covenant Regarding Commercial Paper or Long Term Period.

The Company acknowledges that the Bonds shall initially be rated only while the Interest Period for the Bonds is a Daily Period, a
Two-Day Period or a Weekly Period.  Further, the Company acknowledges that in the event that it shall select a Commercial Paper Period or Long Term Period as the Interest Period, it shall be required to provide a
Substitute Credit Facility or an amendment to the Credit Facility in accordance with Section 2.08 of the Indenture.  The Company covenants that, in the event that it shall select a Commercial Paper
Period or Long Term Period, it shall amend or cause the amendment of, and supplement or cause the supplementation of, this Agreement and the Indenture, respectively, such that the Bonds shall continue to be rated as
investment grade by Moody’s, Fitch or S&P.

Section 6.09

Environmental Matters. 

The Company shall be solely responsible for, and shall indemnify and hold harmless the Issuer, the Owners and the Trustee from and
against, any loss, damage, costs, expense, or liability, directly or indirectly, arising out of or attributable to the use, generation, storage, release, threatened release, discharge, disposal, or presence of Hazardous
Material on, under or about the Project, including without limitation: (i) all foreseeable consequential damages; (ii) the cost of any required or necessary repair, clean-up or detoxification of the Project, and the
preparation and implementation of any closure, remedial, or other required plans; and (iii) all reasonable costs and expenses incurred by the Issuer and the Trustee in connection with clauses (i) and (ii), including
but not limited to reasonable attorney’s fees.  The Company shall, at its expense, take all necessary remedial action(s) in response to the presence of any Hazardous Material on, under or about the Project.

The said release and indemnification covenants of the Company shall apply equally to the officers and employees of the Issuer and to
its Board of Directors.

16

ARTICLE VII

ASSIGNMENT, SELLING, LEASING;

INDEMNIFICATION; REDEMPTION

Section 7.01

Assignment, Selling and Leasing.

The Project may be sold or leased, as a whole or in part, with the prior written consent of the Trustee and the Administrative Agent;
provided, however, during a Credit Facility Period, the consent of the Trustee shall not be required); provided, further, that no such sale or lease shall, in the opinion of Bond Counsel, result in interest on any of the
Bonds becoming includable in gross income for federal income tax purposes, or shall otherwise violate any provisions of the Act; provided further, however, that no such sale or lease shall relieve the Company
of any of its obligations under this Agreement.

Section 7.02

Release and Indemnification Covenants.

(a)

The Company shall and hereby agrees to indemnify and save the Issuer and the Trustee harmless against and from all expenses, damages
and claims by or on behalf of any person, firm, corporation or other legal entity arising from the conduct or management of, or from any work or thing done on, the Project, or any reason whatsoever in connection with the
Project and/or the Bonds, including without limitation, (i) any condition of the Project, (ii) any breach or default on the part of the Company in the performance of any of its obligations under this Agreement, (iii) any
act or negligence of the Company or of any of its agents, contractors, servants, employees or licensees or (iv) any act or negligence of any assignee or lessee of the Company, or of any agents, contractors, servants,
employees or licensees of any assignee or lessee of the Company.  The Company shall indemnify and save the Issuer and the Trustee harmless from any such claim arising as aforesaid, or in connection with any action
or proceeding brought thereon, and upon notice from the Issuer or the Trustee, the Company shall defend them or either of them in any such action or proceeding.

(b)

Notwithstanding the fact that it is the intention of the parties hereto that the Issuer shall not incur any pecuniary liability by
reason of the terms of this Agreement or the undertakings required of the Issuer hereunder, by reason of the issuance of the Bonds, by reason of the execution of the Indenture or by reason of the performance of any act
requested of the Issuer by the Company, including all claims, liabilities or losses arising in connection with the violation of any statutes or regulation pertaining to the foregoing; nevertheless, if the Issuer should
incur any such pecuniary liability, then in such event the Company shall indemnify and hold the Issuer harmless  against all claims, demands or causes of action whatsoever, by or on behalf of any person, firm or
corporation or other legal entity arising out of the same or out of any offering statement or lack of offering statement in connection with the sale or resale of the Bonds and all costs and expenses incurred in connection
with any such claim or in connection with any action or proceeding brought thereon, and upon notice from the Issuer, the Company shall defend the Issuer in any such action or proceeding. All references to the Issuer
in this Section 7.02 shall be deemed to include its trustees, directors, officers, employees, and agents.

(c)

The provisions of this Section 7.02 shall survive the termination
of this Agreement and the redemption of the Bonds.

17

Section 7.03

Issuer to Grant Security Interest to Trustee.

The parties hereto agree that pursuant to the Indenture, the Issuer shall assign to the Trustee, in order to secure payment of the
Bonds, all of the Issuer’s right, title and interest in and to this Agreement, except for Reserved Rights.

Section 7.04

Indemnification of Trustee.

The Company shall and hereby agrees to indemnify the Trustee for, and hold the Trustee harmless against, any loss, liability or expense
(including the costs and expenses of defending against any claim of liability) incurred without gross negligence or willful misconduct by the Trustee and arising out of or in connection with its acting as Trustee under the
Indenture.

18

ARTICLE VIII

DEFAULTS AND REMEDIES

Section 8.01

Defaults Defined.

The following shall be “Defaults” under this Agreement and the term “Default” shall mean, whenever it is used in this
Agreement, any one or more of the following events:

(a)

Failure by the Company to pay any amount required to be paid under Section 4.02(a), (d) or (e)
hereof.

(b)

Failure by the Company to observe and perform any covenant, condition or agreement on its part to be observed or
performed, other than as referred to in Section 8.01(a) hereof, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied shall have been given to
the Company by the Issuer or the Trustee, unless the Issuer and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure stated in the notice cannot
be corrected within the applicable period, the Issuer and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period
and diligently pursued until such failure is corrected.

(c)

The dissolution or liquidation of the Company, except as authorized by Section 2.02 hereof, or
the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the
initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence
as would impair the ability of the Company to carry on its operations at the Project, or assignment by the Company for the benefit of creditors, or the entry by the Company into an agreement of composition with its creditors
or the failure generally by the Company to pay its debts as they become due.

(d)

The occurrence of a Default under the Indenture or any default or “Event of Default” under the Credit Agreement.

The provisions of subsection (b) of this Section are subject to the following limitation:  if by reason of force majeure the Company
is unable in whole or in part to carry out any of its agreements contained herein (other than its obligations contained in Article IV hereof), the Company shall not be deemed in Default during the
continuance of such inability. The term “force majeure” as used herein shall mean, without limitation, the following:  acts of God; strikes or other industrial disturbances; acts of
public enemies; orders or restraints of any kind of the government of the United States of America or of the State or of any of their departments, agencies or officials, or of any civil or military authority; insurrections;
riots; landslides; earthquakes; fires; storms; droughts; floods; explosions; breakage or accident to machinery, transmission pipes or canals; and any other cause or event not reasonably within the control of the Company.
The Company agrees, however, to remedy with all reasonable dispatch the cause 

19

or causes preventing the Company from carrying out its agreement, provided that the settlement of strikes and other industrial disturbances shall be
entirely within the discretion of the Company and the Company shall not be required to settle strikes, lockouts and other industrial disturbances by acceding to the demands of the opposing party or parties when such course
is in the judgment of the Company unfavorable to the Company.

Section 8.02

Remedies on Default.

Whenever any Default referred to in Section 8.01 hereof shall have happened and be continuing, the Trustee, or the
Issuer with the written consent of the Trustee, may take one or any combination of the following remedial steps:

(a)

If the Trustee has declared the Bonds immediately due and payable pursuant to Section 9.02 of the
Indenture, by written notice to the Company, declare an amount equal to all amounts then due and payable on the Bonds and hereunder, whether by acceleration of maturity (as provided in the Indenture) or otherwise, to be
immediately due and payable as liquidated damages under this Agreement and not as a penalty, whereupon the same shall become immediately due and payable;

(b)

Have reasonable access to and inspect, examine and make copies of the books and records and any and all accounts,
data and income tax and other tax returns of the Company during regular business hours of the Company if reasonably necessary in the opinion of the Trustee; or

(c)

Take whatever action at law or in equity as may appear necessary or desirable to collect the amounts then due and
thereafter to become due, or to enforce performance and observance of any obligation, agreement or covenant of the Company under this Agreement.

Any amounts collected pursuant to action taken under this Section shall be paid into the Bond Fund and applied in accordance with the
provisions of the Indenture.

Section 8.03

No Remedy Exclusive.

Subject to Section 9.02 of the Indenture, no remedy herein conferred upon or reserved to the Issuer or the Trustee is
intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing
at law or in equity.  No delay or omission to exercise any right or power accruing upon any Default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right or power may be
exercised from time to time and as often as may be deemed expedient.  In order to entitle the Issuer or the Trustee to exercise any remedy reserved to it in this Article, it shall not be necessary to give any notice,
other than such notice as may be required in this Article.  Such rights and remedies as are given the Issuer hereunder shall also extend to the Trustee, and the Trustee and the Owners of the Bonds, subject to the
provisions of the Indenture, shall be entitled to the benefit of all covenants and agreements herein contained.

20

Section 8.04

Agreement to Pay Attorneys’ Fees and Expenses.

In the event the Company should default under any of the provisions of this Agreement and the Issuer or the Trustee should employ
attorneys or incur other expenses for the collection of payments required hereunder or the enforcement of performance or observance of any obligation or agreement on the part of the Company herein contained, the Company
agrees that it will on demand therefor pay to the Issuer and the Trustee the reasonable fee of such attorneys and such other expenses so incurred by the Issuer.

Section 8.05

No Additional Waiver Implied by One Waiver.

In the event any agreement contained in this Agreement should be breached by either party and thereafter waived by the other party,
such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other breach hereunder.

21

ARTICLE IX

MISCELLANEOUS

Section 9.01

Term of Agreement.

This Agreement shall remain in full force and effect from the date hereof to and including December 1, 2040, or until such time as all of
the Bonds and the fees and expenses of the Issuer and the Trustee shall have been fully paid or provision made for such payments, whichever is later; provided, however, that this Agreement may be terminated prior to such
date pursuant to Article V of this Agreement, but in no event before all of the obligations and duties of the Company hereunder have been fully performed, including, without limitation, the payments of all
costs and fees mandated hereunder.

Section 9.02

Notices.

All notices, certificates or other communications hereunder shall be sufficiently given and shall be deemed given when delivered or
mailed by registered mail, postage prepaid, addressed as follows:

If to the Issuer:

Louisiana Public Facilities Authority

2237 South Acadian Thruway, Suite 650

Baton Rouge, Louisiana 70808

Attention: President and CEO

If to the Trustee:

Wells Fargo Bank, National Association

If to the Company:

IMTT-Finco, LLC

321 St. Charles Ave.

New Orleans, Louisiana 70130

Attention:  John Siragusa

A duplicate copy of each notice, certificate or other communication given hereunder by the Issuer or the Company shall also be given to the Trustee and
the Credit Provider (if any).  The Issuer, the Company, the Trustee, the Credit Provider (if any) and the Confirming Bank (if any), may, by written notice given hereunder, designate any further or different addresses
to which subsequent notices, certificates or other communications shall be sent.

Section 9.03

Binding Effect.

This Agreement shall inure to the benefit of and shall be binding upon the Issuer, the Company, the Credit Provider (if any), the
Confirming Bank (if any), the Trustee, the Administrative Agent, the Owners of Bonds and their respective successors and assigns, subject, however, to the limitations contained in Section 2.02(b) hereof.

22

Section 9.04

Severability.

In the event any provision of this Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, such
holding shall not invalidate or render unenforceable any other provision hereof.

Section 9.05

Amounts Remaining in Funds.

Subject to the provisions of Section 6.11 of the Indenture, it is agreed by the parties hereto that any amounts
remaining in any account of the Bond Fund, the Project Fund, or any other fund (other than the Rebate Fund) created under the Indenture upon expiration or earlier termination of this Agreement, as provided in this
Agreement, after payment in full of the Bonds (or provision for payment thereof having been made in accordance with the provisions of the Indenture) and the fees and expenses of the Trustee in accordance with the
Indenture, shall belong to and be paid to the Company by the Trustee.

Section 9.06

Amendments, Changes and Modifications.

Subsequent to the issuance of Bonds and prior to their payment in full (or provision for the payment thereof having been made in
accordance with the provisions of the Indenture), and except as otherwise herein expressly provided, this Agreement may not be effectively amended, changed, modified, altered or terminated without the written consent
of the Trustee and, prior to a Credit Facility Termination Date (if any) and payment of all amounts payable to the Credit Provider (if any) under a Credit Agreement (if any), the consent of the Credit Provider (if any),
in accordance with the provisions of the Indenture.

Section 9.07

Execution in Counterparts.

This Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall
constitute but one and the same instrument.

Section 9.08

Applicable Law.

This Agreement shall be governed by and construed in accordance with the laws of the State.

Section 9.09

Captions.

The captions and headings in this Agreement are for convenience only and in no way define, limit or describe the scope or intent of
any provisions or Sections of this Agreement.

23

IN WITNESS WHEREOF, the Issuer and the Company have caused this Agreement to be executed in their respective corporate names and
their respective corporate seals to be hereunto affixed and attested by their duly authorized officers, all as of the date first above written.

(SEAL)

LOUISIANA PUBLIC FACILITIES AUTHORITY

Attest:

By: /s/ Guy Campbell    

Chairman

By: /s/ James W. Parks            

Assistant Secretary

(Signature Page - Loan Agreement)

IMTT-FINCO, LLC

By: /s/ Howard W. Streiffer                            

Name:

Howard W. Streiffer

Title:

Chief Banking Officer

By: /s/ John Siragusa                                      

Name:

John Siragusa

Title:

Senior Vice President-Chief

Financial Officer-Treasurer

 

(Signature Page - Loan Agreement)

EXHIBIT A

PROJECT DESCRIPTION

The Project consists of (i) expanding an existing bulk liquid products logistics facility owned or leased by an affiliate of the Company and located
on the Mississippi River at 11842 River Road, St. Rose (St. Charles Parish, Louisiana), and/or (ii) expanding an existing bulk liquid products logistics facility owned or leased by an affiliate of the Company and located
adjacent to the existing BASF plant on Highway 3, Geismar (Ascension Parish, Louisiana).

EXHIBIT B

REQUISITION NO. ____

Amount Requested:

Total Disbursements to Date:

1.

The Company requests a disbursement from the Project Fund in the amount of $______________.

2.

The Company requests that funds be transferred to the account and in the manner set forth in Attachment A.

3.

The Company hereby certifies that:

(a)

this disbursement is for expenditures that have been properly incurred, are a proper
charge against the Project Fund and have not been the basis of any previous disbursement; 

(b)

bills, invoices or statements of account for these expenditures are on file with the Company;

(c)

the expenditures of the amount requested under this Requisition, when added to all
disbursements under previous Requisitions, will result in at least ninety-five percent (95%) of the total of such disbursements, other than disbursements for reasonable expenses incurred in connection with the issuance
of the Bonds, having been used to pay Qualified Project Costs; and

(d)

the expenditures of the amount requested under this Requisition, when added to all
disbursements under previous Requisitions, will result in no more than two percent (2%) of the aggregate face amount of the Bonds being used for payment of Issuance Costs. 

4.

All capitalized terms herein shall have the meanings assigned to them in the Loan Agreement dated as of
November 1, 2010 between the Louisiana Public Facilities Authority and the Company.

This _______ day of ___________, 20____.

IMTT-Finco, LLC

By:_______________________________________

Company Representative

2

ATTACHMENT A

Funds are to be transferred by wire transfer to the account of IMTT-Finco, LLC, as indicated below:

IMTT-Finco, LLC

321 St. Charles Avenue  

New Orleans, LA  70130

Whitney National Bank

228 St. Charles Avenue

New Orleans, LA  70130

Account #  0714324841

ABA      065000171

3

EXHIBIT C

CERTIFICATE OF COMPLETION

Louisiana Public Facilities Authority 

Baton Rouge, Louisiana

Wells Fargo Bank, National Association

To the Addressees:

This certificate is delivered pursuant to Section 3.05 of the Loan Agreement between Louisiana Public Facilities Authority Baton Rouge,
Louisiana and IMTT-Finco, LLC (the "Company"), dated as of August 1, 2010 (the "Loan Agreement").  The undersigned hereby certifies that, except for amounts retained by the Trustee at the Company's
direction to pay any Cost of the Project not then due and payable, (i) construction of the Project has been completed and all costs of labor, services, materials and supplies used in such construction have been paid, (ii) al other
facilities necessary in connection with the Project have been acquired, constructed, improved, and equipped and all costs and expenses incurred in connection therewith have been paid.  Notwithstanding the foregoing, this
certificate is given without prejudice to any rights against third parties which exist at the date of such certificate or which may subsequently come into being.

IMTT-Finco, LLC

By:_______________________________________

Name:

Howard W. Streiffer

Title:

Chief Banking Officer

By:_______________________________________

Name:

John Siragusa

Title:

Senior Vice President-Chief Financial

Officer-Treasurer

Dated:__________________________  

4Exhibit 10.49

 Exhibit 10.49 
 No.3550052011C000000300 
 General Credit Contract 

Bank of Communications Co., Ltd. 20100531 
 Important Notes 
 The applicant shall read the full contract carefully, especially those clauses
with p p symbols. Please immediately ask the credit provider for interpretation in case of doubtful points. 

Applicant: Fujian Province Baisha Fire Control Industrial Trading Co., Ltd 
 Legal representative (principal): Zhuge Zhuang 
 Legal address: Baisha Meilin Industrial Area,
Nan’an City 
 Mail address: Baisha Meilin Industrial Area, Nan’an City 
 Credit provider:   Quanzhou   Branch (Sub-branch), Bank of Communications, Co., Ltd. 
 Principal: Xiaodong Li 
 Mail address: #550 Fengze Street, Quanzhou City 

Considering that the applicant applies to the Credit provider for general credit, the two parties have reached an agreement through friendly consultation
to conclude the following contract in order to define the rights and obligations of both parties: 
 Article 1 Definition

 In this contract, unless otherwise expressly agreed in this context, the following terms shall have the following meanings: 

“General Credit”, the credit given by the provider of credit to the applicant involving the following more than one credit variety: RMB or
foreign currency circulating funds loans, export tax rebate account pledge loans, opening bank acceptance order, opening import letters of credit, packing credit, inward documentary bills, inward collection financing, import outward remittance
financing, outward documentary bills, export invoice financing, export collection financing, opening security letters or other credit varieties authorized by the provider of credit. 
 “General credit limit” refers to the maximum of credit balance hereunder given by the provider of credit to the applicant. 
 “Classified limit” refers to the maximum of a certain type of credit balance given by the provider of credit to the applicant. 

  
 1 

 “Credit balance” refers to the principal sum of all the debts incurred to the applicant due to the
usage of the credit limit hereunder have not yet been paid off to the provider of credit; wherein, under the terms of opening bank’s acceptance bill / letters of credit / security letter, it refers to sum of the following two values: the sum of
the value of valid bank’s acceptance bill / letter of credit / security letter which have been opened by the provider of credit according to this contract, and the sum of the value which has been advanced by the provider of credit when opening
bank’s acceptance bill / credit letter / security letter according to this contract and have not been paid off by the applicant. 

“Classified credit balance” refers to the principal sum of all the debt incurred to the applicant due to the usage of a certain type of limit
hereunder have not been paid off yet. 
 “Balance of limit” refers to the value which is generated when general credit limit is
deducted by credit balance. 
 “Classified limit balance” refers to the value which is generated when classified limit is deducted by
classified credit balance. 
 “Credit period” refers to the period provided by the provider of credit under this contract for the
applicant. It is credit occurrence period rather than performance deadline. The credit performance deadline hereunder shall be defined by the two parties in corresponding “Application of Credit Limit Use”. The credit period hereunder is
from January 17, 2011 to December 30, 2011. 
 “Credit limit” refers to general credit limit and/or classified
limit. 
 “Export tax rebate account pledge loans” refers to floating capital loan provided by the credit provider to the applicant
with export tax rebate receivables as repayment guarantee on the premise of export tax rebate account of trusteeship applicant, 
 “Inward
documentary bills” refers to the short-term financing provided by credit provider to the applicant at his written application for making payment for goods under import letter of credit; the applicant shall repay principal and interest according
to agreed interest rate and deadline. 
 “Inward collection financing” refers to, in the mode of import collection D/P, the short-term
financing provided by credit provider to the applicant at his written application after credit provider as the collecting bank informs the applicant of foreign payment retire documents, for the applicant to make foreign payment; the applicant shall
repay principal and interest according to agreed interest rate and deadline. 
 “Import outward remittance financing” refers to the
financing delivered by the credit provider on the written application of the applicant when the applicant authorizes the credit provider to make payment for goods by T/T after the imported goods arrive at the port. It is used specially for import
outward remittance payment for goods and the applicant shall repay principal and interest according to agreed interest rate and deadline. 

  
 2 

 “Outward documentary bills” refers to that the applicant submits letter of credit and all
documents hereunder to the credit provider and applies for financing; the credit provider provides the applicant with short-term financing after approval and the applicant shall repay principal and interest according to agreed interest rate and
deadline. 
 “Export collection financing” refers to the short-term financing provided by credit provider to the applicant at his
application under the export collection business that the applicant entrusts the credit provider to handle; the applicant shall repay principal and interest according to agreed interest rate and deadline. 

“Export invoice financing” refers to that the credit provider provides the applicant with a certain proportion of short-term financing on the
basis of invoices and other export licenses provided by the applicant when the applicant do export trade by T/T; the applicant shall repay principal and interest according to agreed interest rate and deadline. 

Article 2 Credit Limit 

2.1 The general credit limit is RMB   forty million   (¥) Yuan. 
 2.2 The limit agreed in the above paragraph could be used for the following credit varieties ticked with “ü”: 

 

			
	þ Floating capital loan in Renminbi	  	 ̈ Floating capital loan in foreign currency
		
	 ̈ Export tax rebate account pledge loans	  	þ Opening bank acceptance order
		
	 ̈ Opening security letter	  	 ̈ Opening import letters of credit
		
	 ̈ Inward documentary bills	  	 ̈ Import collection financing
		
	 ̈ Import outward remittance financing	  	 ̈ Packing loans
		
	 ̈ Outward documentary bills	  	 ̈ Export invoice financing
		
	 ̈ Export collection financing	  	

 The specific information of classified limits in the limit is: 

 

					
	Credit variety	  	Currency	  	Amount in words
	Liquidity loan      	  	  RMB  	  	  seventeen million  
	Bank acceptance  	  	  RMB  	  	  forty million          

 2.3 The classified limit agreed in Paragraph 2.2 is the maximum of corresponding type of credit 

  
 3 

 
balance. Credit of any variety is confined by both the classified limit (applicable to those credit varieties with classified limit agreed in Paragraph 2.2) and the general credit limit.

 Article 3 Prerequisite for Use of Credit 
 3.1 Common prerequisites for usage of credit limit: 
 (1) Credit balance does not exceed the
amount of general credit limit and the classified credit balance does not exceed the corresponding amount of classified limit; 
 (2) Credit
amount to be used does not the balance of limit and classified limit balance; 
 (3) The use application is filed within the credit period;

 (4) Contract of guaranty (if any) under this Contract has come into effect and remains effective; real right for security hereunder has been
set up and remains effective in case the contract of guaranty is a pledge/mortgage contract; 
 (5) The applicant has gone through license,
approval, registration and other formalities with the government legally required in using credit limit and by credit provider, and the formalities shall remain effective; 
 (6) The use application is in line with requirements of relevant rules and regulations of the credit provider; 
 (7) Operation and financial situation of the applicant has no major adverse change; 
 (8) The
applicant does not violate the agreement of this Contract; 
 (9) The use application is in line with the prerequisites for use of corresponding
classified limit agreed in this Article; 
 (10) The method of payment comply this contract, credit provider agrees payment. 

(11) Foreign currency financing, the applicant has complied foreign currency management requirement opening relevant account and providing relevant
documents, including but not be limited the use of foreign currency or registration document; 
 (12) The applicant has identified following
account as funds withdrawal, and required by credit provider signs account management agreement with applicant.: 
 Name: Fujian Province
Baisha Fire Control Industrial Trading Co., Ltd. 
 Account No: 355000888018010026109 

Opening Bank: Bank of Communications Quanzhou Branch 
 (13) N/A 
 3.2 Prerequisites for usage of floating capital loan limit (Renminbi and foreign
currency): 
 (1) Loan purpose is limited to liquidity loan; 
 (2) The term of loan is no longer than 12 þ month(s)  ̈ day(s) and the maturity date shall be no later
than June 30, 2012; 
 (3) N/A 
 3.3 Prerequisites for usage of export tax rebate account pledge loan limit: 
 (1) The applicant
has opened a special account of export tax rebate (Account No. N/A ) and this account shall remain under actual trusteeship of the credit provider; 
 (2) The application of the applicant for export tax rebate has been approved by state taxation, foreign 

  
 4 

 
trade and economic authorities; 
 (3) Provide the text of tax rebate materials of local
taxation authority of the place of the applicant in the first application for use; 
 (4) Provide when filling application the application form
of export tax rebate and schedule of export tax rebate materials of the time examined by foreign trade and economic authority in the place of the applicant; 
 (5) Loan purpose is limited to N/A; 
 (6) The amount of loan shall not exceed N/A%
of the corresponding applied tax rebate; 
 (7) The term of loan is no longer than N/A  ̈
months  ̈ days and the maturity date shall be no later than N/A; 
 (8) N/A;

 3.4 Prerequisites for usage of the limit for opening bank’s acceptance bill: 
 (1) Guarantee money has been deposited according to 50% of the face amount of bill applied or a deposit receipt of the equal amount in Bank of Communications is provided for being pledged;

 (2) The applicant has provided documents to prove true and legal commodity transaction in his application, which is accepted by the credit
provider; 
 (3) Handling fees have been paid according to rules of the credit provider; 

(4) The term of the bill under the application shall be no longer than six months and the due date shall be no later than June 30, 2012;

 (5) The fee of risk exposure shall be no lower than 4‰; 
 3.5 Prerequisites for usage of the limit for opening import letter of credit: 
 (1) The applicant
has gone through all formalities of import and foreign exchange management needed for opening import letter of credit, including bur not limited to import license, import quota, etc., and the aforesaid formalities shall remain effective; 

(2) The applied letter of credit is not a standby letter of credit; 
 (3) Commodities under the applied letter of credit are limited to N/A; 
 (4) The applicant
has provided import contract and other documents to prove true and legal trade under the application; 
 (5) For opening sight letter of credit,
guarantee money of no less than N/A% of the amount of the applied letter of credit has been deposited; For opening usance letter of credit, the applicant has deposited guarantee money of no less than N/A% of the amount of the applied
letter of credit and the account of guarantee is No. N/A; Or the applicant has provided a deposit receipt of Bank of Communications respectively according to the aforesaid proportions being pledged; 

(6) Handling fees for opening letter of credit have been paid according to rules of the credit provider; 

(7) N/A; 
 3.6 Prerequisites for usage
of the limit for packing loans; 
 (1) The term of the applied loan is no longer than N/A
 ̈ months  ̈ days and the maturity date shall be no later than N/A; 

  
 5 

 (2) The amount of the applied loan shall not exceed N/A% of the amount of the submitted letter of
credit; 
 (3) Exported commodities under the letter of credit are limited to N/A; 

(4) The applied loan is within the validity period of the submitted letter of credit; 
 (5) The corresponding letter of credit of the applied loan shall meet the following conditions: 

a. The issuing bank shall be correspondent bank of the credit provider; 
 b. The letter of credit is irrevocable documentary letter of credit; 
 c. The beneficiary under
letter of credit shall be entirely correspondent with the name and address of the applicant; 
 d. The letter of credit has no restricted
negotiation or other adverse soft clauses for the credit provider to collect foreign exchange; 
 (6) N/A; 

3.7 Prerequisites for usage of the limit for inward documentary bills: 
 (1) The currency of documentary bills is limited to N/A; 
 (2) The amount of the applied
documentary bills shall not exceed N/A% of the amount of corresponding letter of credit; 
 (3) The term of applied documentary bills is
no longer than N/A  ̈ months  ̈ days and the maturity date shall be no later than N/A; 

(4) The commodities under the corresponding letter of credit of the documentary bills are limited to N/A; 

(5) The corresponding letter of credit of documentary bills is sight/usance letter of credit issued by the credit provider; 

(6) N/A; 
 3.8 Prerequisites for usage
of the limit for import collection financing: 
 (1) The currency of financing is limited to N/A; 

(2) The amount of financing shall not exceed N/A% of the amount of corresponding collection invoice; 

(3) The financing period shall be no longer than N/A  ̈ months
 ̈ days and the due date shall be no later than N/A; 
 (4) N/A; 

3.9 Prerequisites for usage of the limit for import outward remittance financing: 
 (1) The currency of financing is limited to N/A; 
 (2) The amount of applied financing
shall not exceed N/A% of the amount of corresponding invoice; 
 (3) The financing period shall be no longer than N/A  ̈ months  ̈ days and the due date shall be no later than N/A; 
 (4) N/A; 
 3.10 Prerequisites for usage of the limit for outward documentary bills:

  
 6 

 (1) The currency of documentary bills is limited to N/A; 

(2) The amount of the applied documentary bills shall not exceed N/A% of the amount of corresponding letter of credit; 

(3) The term of applied documentary bills is no longer than N/A  ̈ months  ̈ days and the maturity date shall be no later than N/A; 
 (4) The applicant has submitted to
the negotiating bank letter of credit, all its modified original copies (if any) and all documents under the letter of credit; 
 (5) The
corresponding letter of credit of documentary bills shall meet the following conditions: 
 a. The commodities are limited to N/A;

 b. The applicant is limited to N/A; 
 c. The issuing bank shall be correspondent bank of the credit provider; 
 d. The letter of credit
is free use letter of credit, or a letter of credit designating the credit provider to use, or other letter of credit accepted by the credit provider, with no adverse soft clauses for collection of foreign exchange; 

e. The validity period of the letter of credit shall not exceed N/A  ̈ months  ̈ days; 
 f. The documents and letter of credit are in consistence, or the credit provider agrees to
accept the inconsistence in the documents after examination; 
 (6) N/A; 
 3.11 Prerequisites for usage of the limit for export collection financing: 
 (1) The currency of
financing is limited to N/A; 
 (2) The amount of applied financing shall not exceed N/A% of the amount of corresponding
collection; 
 (3) The accumulated financing balance involving the same importer shall not exceed N/A% of classified limit; 

(4) The applied financing period shall be no longer than N/A  ̈ months  ̈ days and the due date shall be no later than N/A; 
 (5) The corresponding collection variety
of financing is limited to N/A; commodities under the collection are limited to N/A; the importer under the collection is limited to N/A; the credit period under the collection shall not exceed N/A  ̈ months  ̈ days; 
 (6) The applicant has submitted to
the credit provider original copies of all documents under export collection and export contract, and the documents under collection are in consistency with main contents of the export contract and the documents are in consistency; 

(7) N/A; 
 3.12 Prerequisites for usage
of the limit for export invoice financing: 
 (1) The currency of financing is limited to N/A; 

(2) The amount of applied financing shall not exceed N/A% of the amount of corresponding invoice; 

(3) The accumulated financing balance involving the same importer shall not exceed N/A% of classified limit; 

  
 7 

 (4) The applied financing period shall be no longer than N/A
 ̈ months  ̈ days and the due date shall be no later than N/A; 
 (5) The corresponding commodities under the export invoice are limited to N/A; the importer is limited to N/A; the credit period shall not exceed N/A
 ̈ months  ̈ days; 
 (6) The applicant has
submitted to the credit provider export contract, export invoice, duplicate of shipping documents and other documents required by the credit provider; 
 (7) The applicant has specified in the export contract or in the invoice issued by the applicant to the importer: the importer shall remit the money to designated account of the applicant opened with the
credit provider; 
 (8) The documents under the export invoice are in consistency with main contents of the export contract and the documents
are in consistency; 
 (9) N/A; 

3.13 Prerequisites for usage of the limit for opening security letter: 
 (1) The type of security letter is limited to N/A  ̈ Letter of guarantee  ̈ Standby letter of credit;
the currency is limited to N/A; the validity period shall not exceed N/A  ̈ months  ̈ days; 

(2) The applicant has provided documents to prove true and legal basic transactions under the application, which is accepted by the credit provider;

 (3) It has been approved by relevant authorities in case opening security letter requires examination of relevant state authorities;

 (4) Guarantee money has been deposited according to N/A% of the amount of applied security letter, or a deposit receipt of the equal
amount in Bank of Communications is provided for being pledged; 
 (5) Handling fees are paid according to rules of the credit provider;

 (6) N/A; 

Article 4 Use of Credit 

p p 4.1 Credit limit is the maximum amount of credit
balance that the credit provider could provide hereunder for the applicant. Signing of this contract does not indicate that the credit provider shall provide credit actually according to the limit. In case the applicant needs to use the credit
limit, he shall file application with the credit provider according to the formats of various “Application of Limit Use” hereunder and use it after approved by the credit provider. 
 4.2 In case the credit provider approves the limit use application of the applicant, the credit variety, currency, amount, purpose, term and interest rate shall be subject to the contents of
“Application of Limit Use” signed by the credit provider. 
 4.3 The use condition of credit limit shall be subject to the files,
vouchers and documents reserved by the credit provider in performance of the contract. 

  
 8 

 p p 4.4
In case the currency recorded in “Application of Limit Use” is not in consistency with that of credit limit hereunder, it shall be only used for calculation of credit limit or classified credit limit, and converted on the basis of exchange
rate published by Bank of Communications in the beginning of each day. 
 p p 4.5 After the applicant becomes a shareholder of guarantor or “actual controller” defined in “Company Law”, the credit limit has the right to suspend or cancel the limit not yet used
by the applicant before the guarantor provides a resolution accepted by the credit provider that the Board of Shareholders (General meeting of shareholders) agrees to provide guarantee for the applicant. 

Article 5 Methods of Payment 
 5.1 The matter concerns financing amount payment is suitable in this contract. 
 5.2 The applicant
identifies following account as receiving account: 
 Name: Fujian Province Baisha Fire Control Industrial Trading Co., Ltd 

Account No: 355000888018010026109 

Opening Bank: Bank of Communications Quanzhou Branch 
 5.3 The applicant shall submit relevant documents to bank at least 5 working days before each withdrawal. Only one payment method is used for each time. 

5.4 Credit provider entrusted payment method means applicant based on the power of attorney of entrusted payment, the creditor provider issue funds
directly to the party who do transaction with applicant. This must comply with provisions in the contract. 
 Adoption entrusted payment method
by credit provider, it must fulfill following conditions: 
 (1) Belonging to floating capital loan in Renminbi, floating capital loan in
foreign currency, export tax rebate account pledge loans, or packing loans which single payment amount exceeds eight million. 
 (2)
Belonging to inward documentary bills, import collection financing, or import outward remittance financing. 
 (3) N/A. 

Adoption entrusted payment method by credit provider, the applicant shall submit “Application of Limit Use”, power of attorney of entrusted
payment , loan voucher, relevant payment voucher and others materials required by credit provider( including but not limited business contract, invoices and receipt tickets). The method also makes sure the amounts of withdrawn must equal the amounts
payment. 
 The applicant applies the payment which is not complied with contract. The credit provider has the right to refuse to make a payment
and return the power of attorney which filed by applicant. 
 The credit provider can not makes payment due to the applicant provides error
information. The applicant shall provide correct information and materials to credit provider in present time. The credit 

  
 9 

 
provider has no obligations for any applicant’s losses. 
 5.5 Independent payment
means credit provider issue funds to applicant account under the contract, the applicant makes payment to his or her transaction party under the contract. 
 Except section 5.4, independent payment method is used in all applicant payment. 
 Using
independent payment method, the applicant shall submit “Applications of Limit Use”, loan voucher, funds using statement and others materials required by credit provider. The applicant shall provide a summary report to credit provider with
60 days upon funds issued by credit provider. Credit provider through account analysis, voucher tested or investigates to make sure whether the financing payment complies with contract. The applicant shall cooperate with credit
provider’s reviews. 
 p p Article 6 Representations and Warranties of the Applicant 
 6.1 The applicant is
established and survive legitimately, has all necessary capacity for rights and could perform obligations in this contract and bear civil liability on its own behalf. 
 6.2 Singing and performance of this Contract are true declaration of intention of the applicant, and have all necessary consent, approval and authority, with no defect in law. 

6.3 The applicant makes legal operation, compliance, ability of sustainable operation, and has no bad credit record. The senior management person of the
applicant has no bad credit record. 
 6.4 All documents, statements, materials and information provided by the applicant to the credit provider
in the process of signs and performance of the Contract are true, accurate, complete and effective, and the applicant conceals no information that might influence its financial situation and repayment capacity from the credit provider. 

6.5 The applicant is not a shareholder of guarantor or “actual controller” defined in “Company Law” when signing the contract, and
has no plan to become a shareholder or actual controller of the guarantor. 
 Article 7 Obligations and Rights of the Credit
Provider 
 7.1 The credit provider has rights to collect principals of financing amounts and interests (including compound interest, delay
and diverted interests), collect amounts payable by applicant, has rights to collect financing amounts based on the situation of withdrawal of currency from circulation of the applicant, and exercise others right under the contract. 

7.2 The credit provider only reviews material that provided by applicant, during fulfills the contract. The credit provider has not completed entrusted
payment timely or the applicant breach the agreement because the applicant provided untrue materials, inaccurate information, the credit provider will not assumes any obligations. 

  
 10 

 7.3 The payment is not successful because the applicant’s account was freeze; the credit provider will
not assume any obligations. 
 Article 8 Obligation of the Applicant 

8.1 The applicant shall obtain all approvals, examination and approval, reports, records or registration necessary for performing this contract or
“Application of Limit Use”. 
 8.2 The applicant shall use the credit limit as agreed in the Contract, use obtained credit according
to purpose agreed in this Contract and corresponding “Application of Limit Use” and shall not use it for other purpose. 
 8.3 The
methods of financing payment is appointed in the contract, the applicant should uses funds complies with the contract. 
 8.4 The applicant
shall fulfill the obligation in full amount on schedule according to this Contract and corresponding “Application of Limit Use”. 

Unless otherwise agreed in this Contract or corresponding “Application of Limit Use”, the applicant shall not fulfill the obligation in advance
without written approval of the credit provider. 
 8.5 The identified account used for withdrawal of funds form circulation, should be used to
collect relevant sales revenue or return funds plan. If the relevant sales revenue is credit sales, the applicant shall make sure to transfer to the account of withdrawal of funds from circulation as receives the payment. 

p p 8.6 The applicant shall bear expenses under this
Contract and “Application of Limit Use”, including but not limited to notarial fee, appraisal fee, survey fee, registration fee and etc. 
 p p 8.7 The applicant shall follow business system and working rules of the credit provider and related
to credit business, including but not limited to cooperating with the credit provider in supervision and examination of state of operation of the applicant, promptly providing all financial statements, other materials and information required by the
credit provider and guaranteeing the trueness, completeness and accuracy of the provided documents, materials and information. 
 p p 8.8 In case any of the following occurs, the applicant shall inform the credit provider in writing at least thirty days in advance, and shall not take
any measure before paying off principals and interest of all debts hereunder or providing a settlement proposal accepted by the credit provider. 
  

	(1)	Sell, donate, lease, lend, transfer, mortgage, pledge all or most of assets or important assets or handle them in other forms; 

 

	(2)	 The management system or property right organization may have major changes, including but not limited to contracting, leasing, joint operation,
corporate restructuring, shareholding cooperative 

  
 11 

	 	 
system transformation, corporate selling, merger (acquisition), joint venture (cooperation), separation, establishing subsidiary, property right transfer, capital reduction and etc.

  

	(3)	Oversea investment amount exceed N/A or increases financing by loan exceed N/A. 

 p p 8.9 The applicant shall inform the credit provider in writing within seven days after one of the
following events occur or might occur: 
  

	(1)	Modifying the articles of association, changing corporate name, legal representative (principal), domicile, mail address, business scope and other items of industrial
and commercial registration, or making a decision with significant influence on finance or personnel matters; 

  

	(2)	The applicant or guarantor is to file for bankruptcy, or may be or might have been filed for bankruptcy by creditor; 

 

	(3)	It is involved in major litigation, arbitration or administrative measures, or main assets or guaranty is in custody of property preservation or other enforcement
measures are taken; 

  

	(4)	Provide a guaranty for a third party, which has significant adverse effects on its financial status or capacity of fulfilling obligations hereunder;

  

	(5)	Sign a contract which has significant effects on its operation and financial status; 

 

	(6)	The applicant or guarantor suspends production, goes out of business, is dismissed, suspended for rectification or revoked or the corporate business license is revoked;

  

	(7)	The applicant, legal representative (principal) or main management personnel of the applicant is involved in law-breaking activities or violate applicable rules of the
exchange; 

  

	(8)	Severe difficulties occur in operation, financial degeneration, or other matters occur with adverse effects on normal operation, financial status or debt repayment
capacity of the applicant; 

  

	(9)	Related transaction occurs, and the amount of transaction reaches or exceeds 10% of net assets audited recently; 

 

	(10)	The applicant becomes or might become a shareholder of the guarantee or “actual controller” defined in “Company Law” before paying off all debts
hereunder. 

  

	(11)	The applicant or related party breaches legal regulations, monitored regulations, national policies or industry standards, which caused liability accidents or explored
by Medias. 

  

	(12)	The relationship of controls or controlled between applicant and related party has been changed. 

 

	(13)	Occurring any adverse significant matters that affect the relationship between the applicant and related party. 

p p 8.10 In case adverse changes for creditor’s
rights of the credit provider occur to guarantee hereunder, the applicant shall promptly provide other guarantee accepted by the credit provider according to requirements of the credit provider. 

“Changes” referred to in this Paragraph includes but not limits to that the guarantor is merged, divided, shut down, closed, dismissed,
suspended for rectification, canceled, or the corporate business license is revoked; the guarantor files or being filed bankruptcy; major changes occur to operation and financial status of the guarantor; the guarantor is involved in major
litigation, arbitration or administrative measures, or main assets or guaranty is in custody of property preservation or other enforcement measures are taken; the guarantor, legal representative (principal) or main management personnel of

  
 12 

 
the guarantor is involved in law-breaking activities or violate applicable rules of the exchange; the guarantor as an individual is missing or dies (declared dead); the guarantor has violating
behaviors hereunder; the guarantor has disputes with the applicant; the guarantor requires to terminate the guaranty contract; the guaranty contract is not yet effective, or is invalid or revoked; the real right for security is not established or is
invalid; other matters that may influence creditor’s right safety of the credit provider and so on. 
 8.11 The applicant makes a promise:
At the date of contract signed until to all principals and interests and related expenses been repaid, the applicant’s financial index still shall complies with following agreement: 
 (1) N/A 
 (2) N/A 
 (3) N/A 
 Article 9 Other Terms Agreed 

The fee of risk exposure shall not more than ¥20,000,000: loan withdrawal amount: ¥10,000,000 per quarter 

p p
Article 10 Early Maturity 
 10.1 Any of the following matters shall constitute “early maturity event” referred to hereunder:

  

	(1)	Representation of the applicant in this contract or any of “Application of Limit Use” is not true; 

 

	(2)	The applicant violate agreement in this contract or any of “Application of Limit Use”; 

 

	(3)	Any of the events listed in Paragraph 8.9 that shall be informed actually occurs, and the credit provider believes that it will affect the security of the
creditor’s rights; 

  

	(4)	The applicant had delayed performance and other violations in performing other contracts between the applicant and the credit provider, and did not correct it after
being urged by the credit provider; 

  

	(5)	The credit provider may breach the contract because of monitored policed changed. 

 

	(6)	The applicant may have breach actions during perform the contract. 

 10.2 In case early maturity event occurs, the credit provider has the right to: 
  

	(1)	Lower, suspend or cancel the credit limit hereunder; 

  

	(2)	 Declare maturity of all or part of the debts of the applicant hereunder, and required the applicant to promptly repay the due principal and interest;
in case opening bank acceptance bill, letter of credit, security letter and other credit varieties are involved, the applicant shall promptly supplement 

  
 13 

	 	 
security deposit until the amount of security deposit reaches the amount of bank acceptance bill, letter of credit or security letter issued by the credit provider according to “Application
of Limit Use” and which is unpaid; 

  

	(3)	Stop to transact the payment as the applicant has withdrawal the amounts but have not be used. 

 

	(4)	Requiring the applicant communicates with credit provider about supplement of issuing financing amount. 

 

	(5)	Requiring the applicant changes payment method required by credit provider. 

 p p Article 11 Breach of Contract 

11.1 In case the applicant fails to pay off the principal or interest of debts in full amount and on schedule, default interest and compound interest
shall be charged for the unpaid amount on the basis of overdue default interest rate from the following day of the expiration date of the performance period (from the date when the credit provider make advances for businesses of bank acceptance
bill/letter of credit/security letter). In case the applicant fails to use the obtained credit according to the purpose agreed in this Contract or “Application of Limit Use”, default interest and compound interest shall be charged for the
appropriation on the basis of default interest rate for appropriation. 
 In case the debt currency is Renminbi, the default interest rates for
overdue amount and appropriation are the interest rates recorded in “Application of Limit Use” respectively increased by 50% and 100%; the interest rate for advances in businesses of bank acceptance bill shall be subject to
“Application of Limit Use”; the interest rate for advances in security letter business shall be N/A. In case the debt currency is foreign currency, the default interest rate shall be increased by N/A% on the basis of the rate
agreed in “Application of Limit Use”; the interest rate for advances in business of import letter of credit shall be N/A; the interest rate for advances in business of security letter shall be N/A. 

Expiration date of performance period is referred to any of the following: payment due date, maturity date and interest date. 

11.2 In case the applicant violates the contract, the applicant shall bear reminder fee, litigation cost (or arbitration fee), preservation fee,
announcement charge, execution fee, counsel fee, travel charge and other fees paid by the credit provider for realizing debtor’s rights. 

11.3 In case the applicant evades supervision of the credit provider, falls behind with debt principal and interest, evades repaying debts intentionally
or has other behaviors, the creditor has the right to report these behaviors to relevant units and make them public in news media; 
 Article 12 Deduction Agreement 
 12.1 The applicant authorizes the credit provider the
right to withhold capital in any account of the applicant opened in Bank of Communications for paying off debts in case of due debt principal, interest, default interest compound interest and other fees. 

12.2 After withholding, the credit provider shall inform the applicant of account number, contract number involved, number of “Application of Limit
Use”, number of loan note or other bank order, 

  
 14 

 
withheld amount and the left amount of debt. 
 12.3 In case the withheld capital is
insufficient for paying off all debts of the applicant, it shall be first used for compensating matured liability unpaid; in case the overdue time of principal and interest is no longer than 90 days, the balance after compensation shall be first
used for compensating due interest, default interest or compound interest unpaid and then for due principal unpaid; in case the overdue time of principal or interest is over 90 days, the balance after compensation shall be first used for
compensating due principal unpaid and then for due interest, default interest or compound interest unpaid. 
 In case the debt is advances for
acceptance bill, letter of credit or security letter and the withheld capital is insufficient for paying off all debts, it shall be first used for compensating due fees unpaid; he balance after compensation shall be first used for compensating due
principal unpaid and then for due interest unpaid. 
 12.4 In case the currency of withheld capital is not in consistency with that of debts
needing compensation, the capital shall be converted to the amount for debt compensation on the basis of the exchange rate published by Bank of Communications when withholding the capital. 

Article 13 Notices 
 13.1
In the contract, the applicant shall fill effective contact methods (including address, contact number, fax number, e-mail, etc.). Any changes of contact methods, the applicant shall notice to credit provider in writing and post to credit provider,
and this will not effect until credit provider received a notice in writing form the applicant 
 13.2 Any notices from credit provider to
applicant except clear provisions in the contract, credit provider has right to choose any following notice methods as he or she feels appropriate and without any response for mistake, omit or delay of transfer by post, fax, phone call, telex or
other correspondence systems. Credit provider has many correspondence methods to choose, usually the fastest one be chose: 
 (1) Announcement,
the provider announces on website, e-bank, phone-bank, or operations network, and the date of announcement seemed as delivered date. 
 (2) The
day of the applicant receives and sign on that is considered as delivered date when delivery by specific person. 
 (3) The credit provider
posts (including speeds, normal and Registered mail) to the applicant whose address has known by credit provider. Upon three days posted (same city)/five days posted (different place) (even though its maybe return back), announcement can be seemed
as delivered date. 
 (4) Fax or other electronic correspondence methods used by credit provider to the applicant whose fax number and
electronic correspondence address has know by Party B, the date of sending can be seemed as delivered date. 
 p p Article 14 Information Disclosure and Confidentiality 

  
 15 

 14.1 The credit provider has responsibility to keep information of the applicant confidentiality, except
for: 
 (1) Shall disclose information by law. 
 (2) Shall disclose information by government or judicial departments 
 (3) Disclose to the
applicant’s external professional consultants 
 (4) The credit provider disclose information authorized by the applicant 

14.2 In the following situations, the applicant agree his or her related information disclosed by credit provider including but not limited ,personal
information, credit transactions and others relate material and information. 
 (1) For the following purpose, outsourcing organization, third
party supplier service, other financial institutions and other organization or individuals that the credit provider believe necessary, including but not limited bank of communications’ other branches or its subsidiary which disclose and be
allowed to use the information and materials: 1) for developing personal loan business or develop relates personal loan business, such as enhance personal loan business of bank of communications, collect amounts owned by the applicant. 2) For
providing some new productions or services or further services to the applicant by credit provider. 3) For further maintaining, managing and improving customer’s relationship. 
 (2) The information and materials are provided to the databases of personal credit information of the People’s Bank of China or to others databases of personal credit information that approved by the
People’s Bank of China. 
 (3) These information or materials are used for the purposes of analyzing credit risk and controlling or used by
third party under confidentiality. 
 Article 15 Settlement of Disputes 

Disputes hereunder shall be brought to a competent court in the place of the credit provider; the parties shall continue to perform terms not involved in
the disputes in the period of dispute settlement. 
 Article 16 Other terms 

p p 16.1 the applicant agree the personal credit
report remained by the credit provider because of credit provide application and management inquiry of after loan. 
 p p 16.2 The credit provider can not provide credit or transact financing amounts payment because the credit provider network or system problem. The credit
provider has no any obligation, but shall notify to the applicant in time. 
 16.3 In the contract, both parties agrees with the format of
“Applications of Limit Use”, both parties signed the “Applications of Limit Use” and “Power of Attorney of Entrusted Payment” during perform of contract and other identified relevant documents and materials seem as the
parts can not be separated. If the contains of “Applications of Limit Use” different with this contract, this contract seem as a standard. 

  
 16 

 16.4 As so called related party, related parties transaction, key investor and others words in the contract
have the same meaning with the relevant words within “Accounting Standards No 36 Enterprise- Related Parties Disclosure” that promulgated by financial department. 
 16.5 This contract shall come into effect after it is signed (or stamped) by legal representative (principal) or authorized representative of the applicant and principal or authorized representative of
the credit provider and affixed with official seals of the two parties. 
 16.6 The contract bears three copies, the two parties of the
contract and the guarantor each hold one. 
 (Body of the Contract ends) 
 The applicant has read through the above terms and the credit provider has made corresponding explanations as required by the applicant; the applicant has no objection to all the contents. 

 

					
	 Applicant (official seal):

Fujian Province Baisha Fire Control Industrial Trading Co., Ltd
	 		  	 Credit provider (official seal):

Bank of Communications Quanzhou Branch

			
	Legal representative (principal) or authorized representative (signature or seal):	 		  	 Principal or authorized representative
 (signature or seal):

			
	 /s/ Zhuge Zhuang
	 		  	 /s/ Xiaodong Li

			
	Date: January 17, 2011	 		  	Date: January 17, 2011

  
 17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}]]