Document:

EX-4.2

 Exhibit 4.2 

National Health Investors, Inc. 

as Issuer 
 The Bank of
New York Mellon Trust Company, N.A. 
 as Trustee 

First Supplemental Indenture 

Dated as of March 25, 2014 

to the Senior Debt Indenture 

Dated as of March 25, 2014 

3.25% Convertible Senior Notes due 2021 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	Article 1	  			
		
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  			
			
	 Section 1.01
	 	Scope of Supplemental Indenture	  	 	1	  
	 Section 1.02
	 	Definitions	  	 	2	  
	 Section 1.03
	 	References to Interest	  	 	11	  
		
	Article 2	  			
		
	THE SECURITIES	  			
			
	 Section 2.01
	 	Title and Terms; Payments	  	 	11	  
	 Section 2.02
	 	Forms	  	 	12	  
	 Section 2.03
	 	Transfer and Exchange	  	 	13	  
	 Section 2.04
	 	Payments on the Securities	  	 	16	  
		
	Article 3	  			
		
	REDEMPTIONS AND PURCHASES	  			
			
	 Section 3.01
	 	Amendments to the Base Indenture	  	 	17	  
	 Section 3.02
	 	Purchase at Option of Holders upon a Fundamental Change	  	 	17	  
	 Section 3.03
	 	Effect of Fundamental Change Purchase Notice	  	 	20	  
	 Section 3.04
	 	Withdrawal of Fundamental Change Purchase Notice	  	 	20	  
	 Section 3.05
	 	Deposit of Fundamental Change Purchase Price	  	 	20	  
	 Section 3.06
	 	Securities Purchased in Whole or in Part	  	 	21	  
	 Section 3.07
	 	Covenant To Comply with Applicable Laws upon Purchase of Securities	  	 	21	  
	 Section 3.08
	 	Repayment to the Company	  	 	21	  
		
	Article 4	  			
		
	CONVERSION	  			
			
	 Section 4.01
	 	Right To Convert	  	 	21	  
	 Section 4.02
	 	Conversion Procedures	  	 	24	  
	 Section 4.03
	 	Settlement Upon Conversion	  	 	26	  
	 Section 4.04
	 	Adjustment of Conversion Rate	  	 	29	  
	 Section 4.05
	 	Discretionary and Voluntary Adjustments	  	 	40	  
	 Section 4.06
	 	Adjustment to Conversion Rate Upon Conversion in Connection with a Make-Whole Fundamental Change	  	 	41	  
	 Section 4.07
	 	Effect of Recapitalization, Reclassification, Consolidation, Merger or Sale	  	 	42	  
	 Section 4.08
	 	Stock Issued Upon Conversion	  	 	44	  

  
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	 Section 4.09
	 	Responsibility of Trustee	  	 	44	  
	 Section 4.10
	 	Notice to Holders	  	 	45	  
		
	Article 5	  			
		
	PARTICULAR COVENANTS OF THE COMPANY	  			
			
	 Section 5.01
	 	Inapplicable Covenants Made in the Base Indenture	  	 	46	  
	 Section 5.02
	 	Payment of Principal, Interest and Fundamental Change Purchase Price	  	 	46	  
	 Section 5.03
	 	Maintenance of Office or Agency	  	 	46	  
	 Section 5.04
	 	Appointments to Fill Vacancies in Trustee’s Office	  	 	47	  
	 Section 5.05
	 	Provisions as to Paying Agent	  	 	47	  
	 Section 5.06
	 	Reports	  	 	48	  
	 Section 5.07
	 	Statements as to Defaults	  	 	49	  
	 Section 5.08
	 	Supplementary Interest Notice	  	 	49	  
	 Section 5.09
	 	Covenant to Take Certain Actions	  	 	49	  
		
	Article 6	  			
		
	REMEDIES	  			
			
	 Section 6.01
	 	Amendments to the Base Indenture	  	 	49	  
	 Section 6.02
	 	Events of Default	  	 	50	  
	 Section 6.03
	 	Acceleration; Rescission and Annulment	  	 	51	  
	 Section 6.04
	 	Supplementary Interest	  	 	51	  
	 Section 6.05
	 	Waiver of Past Defaults	  	 	52	  
	 Section 6.06
	 	Control by Majority	  	 	52	  
	 Section 6.07
	 	Limitation on Suits	  	 	52	  
	 Section 6.08
	 	Rights of Holders to Receive Payment and to Convert	  	 	53	  
	 Section 6.09
	 	Collection of Indebtedness; Suit for Enforcement by Trustee	  	 	53	  
	 Section 6.10
	 	Trustee May Enforce Claims Without Possession of Securities	  	 	53	  
	 Section 6.11
	 	Trustee May File Proofs of Claim	  	 	54	  
	 Section 6.12
	 	Restoration of Rights and Remedies	  	 	54	  
	 Section 6.13
	 	Rights and Remedies Cumulative	  	 	54	  
	 Section 6.14
	 	Delay or Omission Not a Waiver	  	 	54	  
	 Section 6.15
	 	Priorities	  	 	55	  
	 Section 6.16
	 	Undertaking for Costs	  	 	55	  
	 Section 6.17
	 	Waiver of Stay, Extension and Usury Laws	  	 	55	  
	 Section 6.18
	 	Notices from the Trustee	  	 	56	  
		
	Article 7	  			
		
	SATISFACTION AND DISCHARGE	  			
			
	 Section 7.01
	 	Inapplicability of Provisions of Base Indenture; Satisfaction and Discharge of the Indenture	  	 	56	  
	 Section 7.02
	 	Deposited Monies to Be Held in Trust by Trustee	  	 	57	  

  
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	 Section 7.03
	 	Paying Agent to Repay Monies Held	  	 	57	  
	 Section 7.04
	 	Return of Unclaimed Monies	  	 	57	  
	 Section 7.05
	 	Reinstatement	  	 	57	  
		
	Article 8	  			
		
	SUPPLEMENTAL INDENTURES	  			
			
	 Section 8.01
	 	Supplemental Indentures Without Consent of Holders	  	 	58	  
	 Section 8.02
	 	Supplemental Indentures With Consent of Holders	  	 	58	  
	 Section 8.03
	 	Notice of Amendment or Supplement	  	 	60	  
		
	Article 9	  			
		
	SUCCESSOR COMPANY	  			
			
	 Section 9.01
	 	Consolidation, Merger and Sale of Assets	  	 	60	  
	 Section 9.02
	 	Company May Consolidate, Etc. on Certain Terms	  	 	60	  
	 Section 9.03
	 	Successor Corporation to Be Substituted	  	 	60	  
	 Section 9.04
	 	Opinion of Counsel to Be Given to Trustee	  	 	61	  
		
	Article 10	  			
		
	MISCELLANEOUS	  			
			
	 Section 10.01
	 	Effect on Successors and Assigns	  	 	61	  
	 Section 10.02
	 	Governing Law	  	 	61	  
	 Section 10.03
	 	No Security Interest Created	  	 	62	  
	 Section 10.04
	 	Trust Indenture Act	  	 	62	  
	 Section 10.05
	 	Benefits of Supplemental Indenture	  	 	62	  
	 Section 10.06
	 	Calculations	  	 	62	  
	 Section 10.07
	 	Execution in Counterparts	  	 	62	  
	 Section 10.08
	 	Notices	  	 	62	  
	 Section 10.09
	 	Ratification of Base Indenture	  	 	63	  
	 Section 10.10
	 	The Trustee	  	 	63	  
	 Section 10.11
	 	No Recourse Against Others	  	 	63	  

	
	
	 SCHEDULE

	
	 Schedule A Additional Shares

	
	 EXHIBIT

	
	 Exhibit A Form of Security

  
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 FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
March 25, 2014, between National Health Investors, Inc., a Maryland corporation (the “Company”), and The Bank of New York Mellon Trust Company (the “Trustee”), as trustee under the Senior Debt Indenture dated
as of March 25, 2014, between the Company and the Trustee (as amended or supplemented from time to time in accordance with the terms thereof, the “Base Indenture”). 

RECITALS OF THE COMPANY 

WHEREAS, the Company executed and delivered the Base Indenture to the Trustee to provide, among other things, for the issuance, from time to
time, of the Company’s unsecured senior debt Securities, in an unlimited aggregate principal amount, in one or more series to be established by the Company under, and authenticated and delivered as provided in, the Base Indenture; 

WHEREAS, Section 901(7) of the Base Indenture provides for the Company and the Trustee to enter into supplemental indentures to the Base
Indenture to establish the form and terms of Securities of any series as contemplated by Section 301 of the Base Indenture; 
 WHEREAS,
the Board of Directors has duly adopted resolutions authorizing the Company to execute and deliver this Supplemental Indenture; 

WHEREAS, pursuant to the terms of the Base Indenture, the Company has authorized the creation and issuance under this Supplemental
Indenture of its 3.25% Convertible Senior Notes due 2021 (the “Securities”), the form and substance of such Securities and the terms, provisions and conditions thereof to be set forth as provided in the Base Indenture and this
Supplemental Indenture; and 
 WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture,
and that all requirements necessary to make (i) this Supplemental Indenture a valid instrument in accordance with its terms, and (ii) the Securities, when executed by the Company and authenticated and delivered by the Trustee, the valid
obligations of the Company have been performed, and the execution and delivery of this Supplemental Indenture have been duly authorized in all respects. 

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH, for and in consideration of the premises and the purchases of the Securities by the
Holders thereof, it is mutually agreed, for the benefit of the Company and the equal and proportionate benefit of all Holders, as follows: 

ARTICLE 1 
 DEFINITIONS
AND OTHER PROVISIONS OF GENERAL APPLICATION 
 Section 1.01 Scope of Supplemental Indenture. The changes, modifications and
supplements to the Base Indenture effected by this Supplemental Indenture shall be applicable only with respect to, and shall govern only the terms of (and only the rights of the Holders and 

 
the obligations of the Company with respect to), the Securities, which may be issued from time to time, and shall not apply to any other securities that may be issued under the Base Indenture (or
govern the rights of the Holders or the obligations of the Company with respect to any such other securities) unless a supplemental indenture with respect to such other securities specifically incorporates such changes, modifications and
supplements. The provisions of this Supplemental Indenture shall, with respect to the Securities, supersede any corresponding provisions in the Base Indenture. Subject to the preceding sentence, and except as otherwise provided herein, the
provisions of the Base Indenture shall apply to the Securities and govern the rights of the Holders of the Securities and the obligations of the Company and the Trustee with respect thereto. 

Section 1.02 Definitions. For all purposes of the Indenture, except as otherwise expressly provided or unless the context
otherwise requires: 
 (i) the terms defined in this Article 1 shall have the meanings assigned to them in this Article 1 and
include the plural as well as the singular; and 
 (ii) all words, terms and phrases defined in the Base Indenture (but not
otherwise defined herein) shall have the same meanings as in the Base Indenture. 
 “Additional Shares” has the
meaning specified in Section 4.06(a) hereof. 
 “Agent Members” has the meaning specified in
Section 2.02(c) hereof. 
 “Applicable Procedures” means, with respect to any matter at any time, the
policies and procedures of the Depository, if any, that are applicable to such matter at such time.  
 “Base
Indenture” has the meaning specified in the first paragraph of this Supplemental Indenture, as such instrument may be supplemented from time to time by one or more indentures supplemental thereto, including this Supplemental Indenture,
entered into pursuant to the applicable provisions of the Base Indenture, including, for all purposes of the Base Indenture, this Supplemental Indenture and any such other supplemental indenture, the provisions of the Trust Indenture Act that are
deemed to be a part of and govern the Base Indenture, this Supplemental Indenture and any other such supplemental indenture, respectively 

“Bid Solicitation Agent” means the Company or such other person (including the Trustee) as may be appointed, from time
to time, by the Company to solicit bids for the Trading Price of the Securities in accordance with Section 4.01(b)(2) hereof. Initially, the “Bid Solicitation Agent” means the Company. 

“Business Day” means, notwithstanding anything to the contrary in Section 101 of the Base Indenture, any day
other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or to be closed. 

“Capital Stock” means, for any Person, any and all shares, interests, rights to purchase, warrants, options,
participations or other equivalents of or interests in (however designated) the equity of such Person, but excluding any debt securities convertible into such equity. 

  
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 “Cash Settlement” has the meaning specified in Section 4.03(a)(4)
hereof. 
 “Cash Settlement Averaging Period” means, with respect to any Security as to which Cash Settlement
or Combination Settlement is applicable, the 20 consecutive Trading Day period beginning on, and including, the third Trading Day immediately following the related Conversion Date; except that “Cash Settlement Averaging Period” means, with
respect to any Conversion Date occurring during the Final Conversion Period, the 20 consecutive Trading Day period beginning on, and including, the 22nd Scheduled Trading Day immediately preceding the Maturity Date. 

“Clause A Distribution” has the meaning specified in Section 4.04(c) hereof. 

“Clause B Distribution” has the meaning specified in Section 4.04(c) hereof. 

“Clause C Distribution” has the meaning specified in Section 4.04(c) hereof. 

“Close of Business” means 5:00 p.m., New York City time. 

“Combination Settlement” has the meaning specified in Section 4.03(a)(4) hereof. 

“Common Equity” of any Person means the Capital Stock of such Person that is generally entitled (a) to vote in
the election of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others that will control the management or policies of such
Person. 
 “Common Stock” means, subject to Section 4.07, the shares of common stock, par value $0.01
per share, of the Company authorized at the date of this instrument as originally executed or shares of any class or classes of common stock resulting from any reclassification or reclassifications thereof; provided,
however, that if at any time there shall be more than one such resulting class, the shares so issuable on conversion of Securities shall include shares of all such classes, and the shares of each such class then so issuable
shall be substantially in the proportion which the total number of shares of such class resulting from all such reclassifications bears to the total number of shares of all such classes resulting from all such reclassifications. “Common
Stock” includes any stock of any class of Capital Stock which has no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding up of the issuer thereof and which is
not subject to redemption by the issuer thereof. 
 “Company” has the meaning specified in the first
paragraph of this Supplemental Indenture, and subject to the provisions of Section 9.02, shall include its successors and assigns. 

“Conversion Agent” means the office or agency designated by the Company where Securities may be presented for
conversion. 
 “Conversion Date” has the meaning specified in Section 4.02(b) hereof. 

“Conversion Notice” has the meaning specified in Section 4.02(b) hereof. 

  
 3 

 “Conversion Price” means, in respect of each Security, as of any date,
$1,000 divided by the Conversion Rate in effect on such date. 
 “Conversion Rate” means
initially 13.9260 shares of Common Stock per $1,000 principal amount of Securities, subject to adjustment as set forth herein. 

“Custodian” means the Trustee, as custodian with respect to the Securities (so long as the Securities constitute
Global Securities), or any successor entity. 
 “Continuing Director” means a director who either was a
member of the Company’s Board of Directors on the date of the Preliminary Prospectus Supplement or who becomes a member of the Company’s board of directors subsequent to that date and whose election, appointment or nomination for election
by the Company’s shareholders is duly approved by a majority of the “Continuing Directors” on the Company’s Board of Directors at the time of such approval, either by a specific vote or by approval of the proxy statement issued
by the Company on behalf of the Company’s entire Board of Directors in which such individual is named as nominee for director. 

“Daily Conversion Value” means, with respect to any Security as to which Cash Settlement or Combination Settlement is
applicable, for each of the 20 consecutive Trading Days during the Cash Settlement Averaging Period, one-twentieth (1/20th) of the product of (i) the Conversion Rate in effect on such Trading Day and (ii) the Daily VWAP on such
Trading Day. 
 “Daily Measurement Value” has the meaning specified in Section 4.03(a)(6)(A) hereof.

 “Daily Settlement Amount” has the meaning specified in Section 4.03(a)(6) hereof. 

“Daily VWAP” means, with respect to any Security as to which Cash Settlement or Combination Settlement is applicable,
for any Trading Day, the per-share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “NHI.N <equity> AQR” (or its equivalent successor if such page is not available) in respect
of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such Trading Day (or if such volume-weighted average price is unavailable, the market value of one share of the Common Stock on
such Trading Day determined, using a volume-weighted average method, by a nationally recognized independent investment banking firm retained for this purpose by the Company). The “Daily VWAP” will be determined without regard to
after-hours trading or any other trading outside of the regular trading session trading hours. 
 “Default”
means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default. 

“Dividend Threshold Amount” has the meaning specified in Section 4.04(d) hereof. 

“Effective Date” has the meaning specified in Section 4.06(c) hereof. 

  
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 “Event of Default” has the meaning, notwithstanding anything to the
contrary in Section 101 of the Base Indenture, specified in Section 6.02 hereof. 
 “Exchange Act” means
the Securities Exchange Act of 1934, as amended. 
 “Ex-Dividend Date” means, except to the extent otherwise
provided under Section 4.04(c) hereof, the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in
question. 
 “Final Conversion Period” means the period beginning on, and including, the 25th Scheduled
Trading Day immediately preceding the Maturity Date, and ending at the Close of Business on the second Scheduled Trading Day immediately prior to the Maturity Date. 

“Form of Assignment and Transfer” means the “Form of Assignment and Transfer” attached as Attachment
3 to the Form of Security attached hereto as Exhibit A. 
 “Form of Fundamental Change Purchase
Notice” means the “Form of Fundamental Change Purchase Notice” attached as Attachment 2 to the Form of Security attached hereto as Exhibit A. 

“Form of Notice of Conversion” means the “Form of Notice of Conversion” attached as Attachment 1 to
the Form of Security attached hereto as Exhibit A. 
 “Fundamental Change” shall be deemed to have
occurred at the time after the Securities are originally issued if any of the following occurs: 
 (1) any “person” or
“group” (within the meaning of Section 13(d) of the Exchange Act, other than the Company or its Subsidiaries) files a Schedule TO or any schedule, form or report under the Exchange Act disclosing that such person or group has become
the direct or indirect ultimate “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of the Company’s Common Equity representing more than 50% of the voting power of the Company’s Common Equity; 

(2) the consummation of (x) any consolidation, merger, amalgamation, scheme of arrangement or other binding share exchange or
reclassification or similar transaction between the Company and another person (other than any of the Company’s Subsidiaries), in each case pursuant to which the Common Stock shall be converted into cash, securities or other property, other
than a transaction (i) that results in the holders of all classes of the Company’s Common Equity immediately prior to such transaction owning, directly or indirectly, as a result of such transaction, more than 50% of the surviving
corporation or transferee or the parent thereof immediately after such event, or (ii) effected solely to change the Company’s jurisdiction of incorporation or to form a holding company for the Company and that results in a share exchange
or reclassification or similar exchange of the outstanding Common Stock solely into common shares of the surviving entity or (y) any sale or other disposition in one transaction or a series of transactions of all or substantially all of the
assets of the Company and its Subsidiaries, on a consolidated basis, to another person (other than any of the Company’s Subsidiaries); 

  
 5 

 (3) Continuing Directors cease to constitute at least a majority of the Company’s Board of
Directors; 
 (4) the Company’s stockholders approve any plan or proposal for the liquidation or dissolution of the Company (other than
in a transaction described in clause (2) above); or 
 (5) the Common Stock ceases to be listed on The New York Stock Exchange, The
NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors; 
 provided,
however, that in the case of a transaction or event described in clause (1) or (2) above, if at least 90% of the consideration received or to be received by holders of the Common Stock (excluding cash payments for
fractional shares) in the transaction or transactions that would otherwise constitute a “Fundamental Change” consists of shares of common stock or common equity interests that are traded on The New York Stock Exchange, The NASDAQ Global
Select Market or The NASDAQ Global Market (or any of their respective successors) or that will be so traded when issued or exchanged in connection with the transaction that would otherwise constitute a “Fundamental Change” under clause
(1) or (2) above (“Publicly Traded Securities”), and as a result of such transaction or transactions, the Securities become convertible into or by reference to such Publicly Traded Securities, excluding cash payments for
fractional shares (subject to settlement in accordance with the provisions of Sections 4.03, 4.04 and 4.06 hereof), such event shall not be a “Fundamental Change.” 

“Fundamental Change Company Notice” has the meaning specified in Section 3.02(b) hereof. 

“Fundamental Change Expiration Time” has the meaning specified in Section 3.02(a) hereof. 

“Fundamental Change Purchase Date” has the meaning specified in Section 3.02(a) hereof. 

“Fundamental Change Purchase Notice” has the meaning specified in Section 3.02(a) hereof. 

“Fundamental Change Purchase Price” has the meaning specified in Section 3.02(a) hereof. 

“Global Security” means a Security which is executed by the Company and authenticated and delivered to the Depository
or its nominee, all in accordance with the Indenture and pursuant to a Company Order, which shall be registered in the name of the Depository or its nominee and which shall represent the amount of uncertificated Securities as specified therein. 

  
 6 

 “Holder” means, notwithstanding anything to the contrary in
Section 101 of the Base Indenture, the Person in whose name a Security is registered in the Security Register. 

“Indenture” means, notwithstanding anything to the contrary in Section 101 of the Base Indenture, the Base
Indenture, as originally executed and as supplemented by this Supplemental Indenture, each as may be amended or supplemented from time to time. 

“Interest Payment Date” means, with respect to the payment of interest on the Securities and notwithstanding anything
to the contrary in Section 101 of the Base Indenture, each April 1 and October 1 of each year, beginning on October 1, 2014. 

“Issue Date” means, with respect to the Securities, March 25, 2014. 

“Last Reported Sale Price” of the Common Stock for any Trading Day means the closing sale price per share (or, if no closing
sale price is reported, the average of the last bid and last ask prices or, if more than one in either case, the average of the average last bid and the average last ask prices) on that Trading Day as reported in composite transactions for the
principal U.S. national or regional securities exchange on which the Common Stock is traded. If the Common Stock is not listed for trading on a U.S. national or regional securities exchange on the relevant Trading Day, the “Last Reported Sale
Price” will be the last quoted bid price for the Common Stock in the over-the-counter market on the relevant date as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is not so quoted, the “Last Reported
Sale Price” will be the average of the mid-point of the last bid and last ask prices for the Common Stock on the relevant Trading Day from each of at least three nationally recognized independent investment banking firms selected by the Company
for this purpose. Any such determination will be conclusive absent manifest error. 
 “Make-Whole Fundamental
Change” means any event that (i) is a Fundamental Change or (ii) would be a Fundamental Change, but for the exclusion in section (i) of clause (2) of the definition thereof. 

“Market Disruption Event” means, if the Common Stock is listed for trading on The New York Stock Exchange or listed on
another U.S. national or regional securities exchange, the occurrence or existence during the one-half-hour period ending on the scheduled close of trading on any Trading Day of any material suspension or limitation imposed on trading (by reason of
movements in price exceeding limits permitted by the stock exchange or otherwise) in the Common Stock or in any options, contracts or futures contracts relating to the Common Stock. For the purposes of determining amounts due upon conversion only
pursuant to Section 4.03, “Market Disruption Event” means (1) a failure by the primary exchange or quotation system on which the Common Stock trades or is quoted to open for trading during its regular trading session or
(2) the occurrence or existence, prior to 1:00 p.m., New York City time, on any Trading Day for the Common Stock, of an aggregate one half-hour period of any suspension or limitation imposed on trading (by reason of movements in price exceeding
limits permitted by the stock exchange or otherwise) in the Common Stock or in any options, contracts or future contracts relating to the Common Stock. 

  
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 “Maturity Date” means, with respect to any Security and the payment of
the principal amount thereof, April 1, 2021. 
 “Measurement Period” has the meaning specified in
Section 4.01(b)(2) hereof. 
 “Merger Event” has the meaning specified in Section 4.07(a)
hereof. 
 “Physical Securities” means any non-Global Security issued pursuant to Section 2.03 hereof
that is in definitive, fully registered form, without interest coupons. 
 “Notice of Default” has the
meaning, notwithstanding anything to the contrary in Section 101 of the Base Indenture, specified in Section 6.02(f) hereof. 

“Offer Expiration Date” has the meaning specified in Section 4.04(e) hereof. 

“Open of Business” means 9:00 a.m., New York City time. 

“Outstanding” means, with respect to the Securities, notwithstanding anything to the contrary in Section 101 of
the Base Indenture, any Securities authenticated by the Trustee except (i) Securities cancelled by it, (ii) Securities delivered to it for cancellation and (iii)(A) Securities replaced pursuant to Section 306 of the Base Indenture, on
and after the time such Security is replaced (unless the Trustee and the Company receive proof satisfactory to them that such Security is held by a bona fide purchaser), (B) Securities converted pursuant to Article 4 hereof, on and after their
Conversion Date, (C) any and all Securities, as of the Maturity Date, if the Paying Agent holds, in accordance with this Indenture, money sufficient to pay all of the Securities then payable, and (D) any and all Securities owned by the
Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor, except that in determining whether the Trustee shall be protected in relying upon any request, demand, authorization, direction, notice
consent or waiver or other action that is to be made by a requisite principal amount of Outstanding Securities, only such Securities which a Responsible Officer of the Trustee knows to be so owned shall be disregarded. 

“Paying Agent” has the meaning set forth in the Base Indenture and shall be the person authorized by the Company to
pay the principal amount of, interest on, or Fundamental Change Purchase Price of, any Securities on behalf of the Company. 

“Physical Settlement” has the meaning specified in Section 4.03(a)(4) hereof. 

“Physical Settlement Election” means the irrevocable election by the Company prior to the commencement of the Final
Conversion Period, to satisfy its Exchange Obligation solely in shares of Common Stock in accordance with Section 4.03(a)(8) hereof. 

“Physical Settlement Election Date” means the date on which a Physical Settlement Election Notice is delivered to the
Trustee. 
 “Physical Settlement Election Notice” means a written notice of a Physical Settlement Election provided
by the Issuer to the Trustee and each Holder of Notes. 

  
 8 

 “Preliminary Prospectus Supplement” means the Preliminary Prospectus
Supplement of the Company, dated March 18, 2014, to the Prospectus of the Company dated March 18, 2014, relating to the offering and sale of the Securities. 

“Publicly Traded Securities” has the meaning specified in this Section 1.02. 

“Regular Record Date” means, with respect to any Interest Payment Date, the March 15 (whether or not a Business
Day) or the September 15 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. 

“Reference Property” has the meaning specified in Section 4.07(a) hereof. 

“Reporting Event of Default” has the meaning specified in Section 6.04(a) hereof. 

“Scheduled Trading Day” means a day that is scheduled to be a Trading Day on the principal U.S. national or regional
securities exchange or market on which the Common Stock is listed or admitted for trading. If the Common Stock is not so listed or admitted for trading, “Scheduled Trading Day” means a Business Day. 

“Security” or “Securities” has the meaning specified in the fourth paragraph of the Recitals of this
Supplemental Indenture, notwithstanding anything to the contrary in Section 101 of the Base Indenture. 

“Settlement Amount” has the meaning specified in Section 4.03(a) hereof. 

“Settlement Method” has the meaning specified in Section 4.03(a)(2) hereof. 

“Settlement Notice” has the meaning specified in Section 4.03(a)(4) hereof. 

“Significant Subsidiary” means, with respect to any person, a Subsidiary of such person that would constitute a
“significant subsidiary” as such term is defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as in effect on the original date of issuance of the Securities. 

“Specified Dollar Amount” has the meaning specified in Section 4.03(a)(6)(A) hereof. 

“Spin-Off” has the meaning specified in Section 4.04(c) hereof. 

“Stock Price” has the meaning specified in Section 4.06(c) hereof. 

“Successor Company” has the meaning specified in Section 9.02(a) hereof. 

“Supplemental Indenture” has the meaning specified in the first paragraph hereof, as such instrument may be
supplemented from time to time by one or more indentures supplemental thereto, entered into pursuant to the applicable provisions of the Base Indenture and the Supplemental Indenture, including, for all purposes of this Supplemental Indenture and
any such other supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern the Base Indenture, this Supplemental Indenture and any other such supplemental indenture, respectively. 

  
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 “Supplementary Interest” has the meaning specified in
Section 6.04(a) hereof. 
 “Trading Day” means a Scheduled Trading Day on which (i) trading in the
Common Stock generally occurs on The New York Stock Exchange or, if the Common Stock is not then listed on The New York Stock Exchange, on the principal other U.S. national or regional securities exchange on which the Common Stock is then listed or,
if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then traded, and (ii) there is no Market Disruption Event. If the Common Stock is not so
listed or traded, “Trading Day” means a “Business Day.” Notwithstanding the foregoing, for the purposes of determining amounts due upon conversion only pursuant to Section 4.03, “Trading Day” means a day during
which (i) trading in the Common Stock generally occurs on the primary exchange or quotation system on which the Common Stock then trades or is quoted and (ii) there is no Market Disruption Event. 

“Trading Price” of the Securities on any Trading Day means the average of the secondary market bid quotations obtained
by the Bid Solicitation Agent for $5.0 million principal amount of the Securities at approximately 3:30 p.m., New York City time, on such Trading Day from three independent nationally recognized securities dealers selected by the Company;
provided that, if three such bids cannot reasonably be obtained by the Bid Solicitation Agent but two such bids are obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be obtained by
the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot reasonably obtain at least one bid for $5.0 million principal amount of the Securities from a nationally recognized securities dealer, then the Trading
Price per $1,000 principal amount of Securities will be deemed to be less than 98% of the product of (i) the Conversion Rate in effect on such Trading Day and (ii) the Last Reported Sale Price of the Common Stock on such Trading Day. Any
such determination will be conclusive absent manifest error. If the Company does not so instruct the Bid Solicitation Agent (if other than the Company) to obtain bids when required, or the Bid Solicitation Agent fails to solicit bids when required,
the Trading Price per $1,000 principal amount of the Securities will be deemed to be less than 98% of the product of (i) the Conversion Rate and (ii) the Trading Price for each Trading Day on which the Company or the Bid Solicitation Agent
fails to do so, as the case may be.  
 “Trigger Event” has the meaning specified in Section 4.04(c)
hereof. 
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this
Supplemental Indenture until a successor Trustee shall have become such pursuant to the applicable provisions of the Base Indenture and this Supplemental Indenture, and thereafter “Trustee” shall mean or include each Person who is then a
Trustee hereunder. 
 “Underwriters” mean Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan
Securities LLC, BMO Capital Markets Corp., Capital One Securities, Inc., KeyBanc Capital Markets Inc., JMP Securities LLC, Regions Securities LLC, Stifel, Nicolaus & Company, Incorporated and Wells Fargo Securities, LLC. 

  
 10 

 “Underwriting Agreement” means that certain underwriting agreement, dated
March 19, 2014, among the Company and Underwriters. 
 “Unit of Reference Property” has the meaning specified
in Section 4.07(a) hereof. 
 “U.S.” or “United States” means the United States of
America. 
 “Valuation Period” has the meaning specified in Section 4.04(c) hereof. 

Section 1.03 References to Interest. Any reference to interest on, or in respect of, any Security in the Indenture shall be deemed
to include Supplementary Interest if, in such context, Supplementary Interest is, was or would be payable pursuant to Section 6.04. Any express mention of the payment of Supplementary Interest in any provision hereof shall not be construed as
excluding Supplementary Interest in those provisions hereof where such express mention is not made. 
 ARTICLE 2 

THE SECURITIES 

Section 2.01 Title and Terms; Payments. 

(a) Establishment; Designation. Pursuant to Section 301 of the Base Indenture, there is hereby established and authorized a new
series of Securities under the Indenture, which series of Securities shall be designated the “3.25% Convertible Senior Notes due 2021.” 

(b) Initial Issuance. Subject to Section 2.01(c) hereof, the aggregate principal amount of Securities that may initially be
authenticated and delivered under the Indenture is limited to $175,000,000 (or up to $200,000,000 if the Underwriters exercise in full their option granted pursuant to the Underwriting Agreement to purchase additional Securities). In addition, the
Company may execute, and the Trustee may authenticate and deliver, in each case, in accordance with Section 303 of the Base Indenture, an unlimited aggregate principal amount of additional Securities upon the transfer, exchange, purchase or
conversion of Securities pursuant to Sections 304, 305 and 306 of the Base Indenture and Sections 3.06 and 4.02 hereof. 
 (c) Further
Issues. The Company may, without the consent of the Holders, issue additional Securities under the Indenture with the same terms and the same CUSIP number as the Securities initially issued under the Indenture in an unlimited aggregate principal
amount; provided, that the Company may issue such additional Securities only if they are part of the same issue as the Securities initially issued hereunder for United States federal income tax purposes. Any such additional Securities will,
for all purposes of the Indenture, including waivers, amendments and offers to purchase, be treated as part of the same series as the Securities initially issued under the Indenture. 

  
 11 

 (d) Purchases. The Company and its Subsidiaries may from time to time purchase
Securities in open market purchases in negotiated transactions or otherwise without giving prior notice to or obtaining any consent of the Holders. Any Securities purchased by the Company or any of its Subsidiaries pursuant to the foregoing sentence
or otherwise will be retired and will no longer be Outstanding under the Indenture. 
 (e) Denominations. Pursuant to
Sections 301 and 302 of the Base Indenture, the Securities will be issued only in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. 

Section 2.02 Forms. 

(a) In General. Pursuant to Section 201 of the Base Indenture, the Securities will be substantially in the forms set forth
in Exhibit A hereto, and may include such insertions, omissions, substitutions and other variations as are required or permitted by the Indenture, and may have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution of the Securities.

 Notwithstanding Section 305 of the Base Indenture, each Security will bear a Trustee’s certificate of authentication
substantially in the form included in Exhibit A hereto. Each Security will also bear the Form of Notice of Conversion, the Form of Fundamental Change Purchase Notice and the Form of Assignment and Transfer. 

Any Security that is a Global Security will bear a legend substantially in the form of the legend set forth in Exhibit A hereto and
shall also bear the “Schedule of Increases and Decreases of Global Security” set forth in Annex A to Exhibit A hereto. 

The terms and provisions contained in the Securities will constitute, and are hereby expressly made, a part of this Supplemental Indenture
and, to the extent applicable, the Company and the Trustee, by their execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent that any provision of any
Security conflicts with the express provisions of this Supplemental Indenture or the Base Indenture, the provisions of this Supplemental Indenture will govern and control. 

(b) Initial and Subsequent Form of Securities. The Company hereby initially appoints The Depository Trust Company as the
Depository for the Securities, which initially shall be issued in the form of one or more Global Securities without interest coupons (i) registered in the name of Cede & Co., as nominee of the Depository, and (ii) delivered to the
Trustee as custodian for the Depository. 
 So long as the Securities are eligible for book-entry settlement with the Depository,
unless otherwise required by law, and except to the extent provided in Section 2.03(c)(1) through (3) hereof, all Securities will be represented by one or more Global Securities. 

  
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 (c) Global Securities. Each Global Security will represent the aggregate principal
amount of the then Outstanding Securities endorsed thereon and provide that it represents such aggregate principal amount of the then Outstanding Securities, which aggregate principal amount may, from time to time, be reduced or increased to reflect
transfers, exchanges, conversions or purchases by the Company. 
 Only the Trustee, or the Custodian holding such Global Security for
the Depository, at the direction of the Trustee, may endorse a Global Security to reflect the amount of any increase or decrease in the aggregate principal amount of the then Outstanding Securities represented thereby, and whenever the Holder of a
beneficial interest in a Global Security delivers instructions to the Trustee to increase or decrease the aggregate principal amount of the then Outstanding Securities represented by a Global Security in accordance with the Indenture and the
Applicable Procedures, the Trustee, or the Custodian holding such Global Security for the Depository, at the direction of the Trustee, will endorse such Global Security to reflect such increase or decrease in the aggregate principal amount of the
then Outstanding Securities represented thereby. None of the Trustee, the Company or any agent of the Trustee or the Company will have any responsibility or bear any liability for any aspect of the records relating to or payments made on account of
the ownership of any beneficial interest in a Global Security or with respect to maintaining, supervising or reviewing any records relating to such beneficial interest. 

Members of, or participants in, the Depository (“Agent Members”) shall have no rights under the Indenture with respect
to any Global Security held on their behalf by the Depository, or the Trustee as its custodian, or under the Global Security, and Cede & Co., or such other person designated by the Depository as its nominee, may be treated by the Company,
the Trustee and any agent of the Company or the Trustee as the absolute owner of the Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the
Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights
of any Holder. 
 Section 2.03 Transfer and Exchange. 

(a) In General. Notwithstanding anything to the contrary in Article 3 of the Base Indenture, the Company is not required to
transfer or exchange any Securities or portions thereof that have been surrendered for purchase in accordance with Article 3 hereof (unless the related Fundamental Change Purchase Notice is withdrawn in accordance with the provisions of
Section 3.04) or for conversion in accordance with Article 4 hereof, and a written form of transfer substantially in the form of the Form of Assignment and Transfer will be deemed to be written instrument of transfer satisfactory to the Company
and the Security Registrar. 
 At such time as all interests in a Global Security have been purchased, converted, cancelled or
exchanged for Securities in certificated form, such Global Security shall, upon receipt thereof, be canceled by the Trustee in accordance with standing procedures and instructions existing between the Depository and the Custodian for the Global
Security. At any 

  
 13 

 
time prior to such cancellation, if any interest in a Global Security is purchased, converted, cancelled or exchanged for Securities in certificated form, the principal amount of such Global
Security shall, in accordance with the standing procedures and instructions existing between the Depository and the Custodian for the Global Security, be appropriately reduced, and an endorsement shall be made on such Global Security, by the Trustee
or the Custodian for the Global Security, at the direction of the Trustee, to reflect such reduction. 
 (b) Global
Securities. Notwithstanding anything to the contrary in Section 305 of the Base Indenture, every transfer and exchange of a beneficial interest in a Global Security will be effected through the Depository in accordance with the Applicable
Procedures and the provisions of the Indenture, and each Global Security may be transferred only as a whole and only (A) by the Depository to a nominee of the Depository, (B) by a nominee of the Depository to the Depository or to another
nominee of the Depository, or (C) by the Depository or any such nominee to a successor Depository or a nominee of such successor Depository. 

(c) Holders Deemed Owners. Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any
agent of the Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and any interest (subject to Section 307 of the Base
Indenture) on such Security at the Maturity Date, in connection with a Fundamental Change, upon any conversion and for all other purposes whatsoever, including delivery of shares of Common Stock on conversion, for distribution of notices to such
Holders or solicitations of their consent, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

Notwithstanding anything to the contrary in Section 305 of the Base Indenture: 

(1) Each Global Security will be exchanged for Physical Securities if the Depository delivers notice to the Company that the Depository is
unwilling, unable or no longer permitted under applicable law to continue to act as Depository, and, in each case, the Company promptly delivers a copy of such notice to the Trustee and the Company fails to appoint a successor Depository within 90
days after receiving notice from the Depository. 
 (2) If an Event of Default has occurred and is continuing, any owner of a beneficial
interest in a Global Security may exchange such beneficial interest for Physical Securities by delivering a written request to the Security Registrar. 

(3) If the Company notifies the Trustee that it wishes to terminate and exchange all or part of a Global Security for Physical Securities and
the beneficial owners of the majority of the principal amount of such Global Security (or portion thereof) to be exchanged consent to such exchange, the Company may exchange all beneficial interests in such Global Security (or portion thereof) for
Physical Securities by delivering a written request to the Security Registrar. 

  
 14 

 In the case of an exchange for Physical Securities under clause (1) above: 

(A) each Global Security will be deemed surrendered to the Trustee for cancellation; 

(B) the Trustee will cause each Global Security to be cancelled in accordance with the Applicable Procedures; and 

(C) the Company, in accordance with Section 303 of the Base Indenture, will promptly execute, and, upon receipt of a Company Request, the
Trustee, in accordance with Section 303 of the Base Indenture, will promptly authenticate and deliver, for each beneficial interest in each Global Security so exchanged, an aggregate principal amount of Physical Securities equal to the
aggregate principal amount of such beneficial interest, registered in such names and in such authorized denominations as the Depository specifies, and bearing any legends that such Physical Securities are required to bear under this Indenture. 

In the case of an exchange for Physical Securities under clause (2) above: 

(A) the Security Registrar will deliver notice of such request to the Company and the Trustee (if not acting as the Security Registrar), which
notice will identify the owner of the beneficial interest to be exchanged, the aggregate principal amount of such beneficial interest and the CUSIP of the relevant Global Security, in each case if and as such information is provided to the Security
Registrar by the Depository; 
 (B) the Company, in accordance with Section 303 of the Base Indenture, will promptly execute, and, upon
receipt of a Company Request, the Trustee, in accordance with Section 303 of the Base Indenture, will promptly authenticate and deliver to such owner, for the beneficial interest so exchanged by such owner, Physical Securities registered in
such owner’s name having an aggregate principal amount equal to the aggregate principal amount of such beneficial interest and bearing any legends that such Physical Securities are required to bear under this Indenture; and 

(C) the Security Registrar, in accordance with the Applicable Procedures, will cause the principal amount of such Global Security to be
decreased by the aggregate principal amount of the beneficial interest so exchanged. If all of the beneficial interests in a Global Security are so exchanged, such Global Security will be deemed surrendered to the Trustee for cancellation, and the
Trustee will cause such Global Security to be cancelled in accordance with the Applicable Procedures. 
 In the case of an exchange for
Physical Securities under clause (3) above: 
 (A) the Company will deliver notice of such request to the Security Registrar and the
Trustee (if not acting as the Security Registrar), which notice will identify each owner of a beneficial interest to be exchanged, the aggregate principal amount of each such beneficial interest and the CUSIP of the relevant Global Security; 

(B) the Company, in accordance with Section 303 of the Base Indenture, will promptly execute, and, upon receipt of a Company Request, the
Trustee, in accordance with 

  
 15 

 
Section 303 of the Base Indenture, will promptly authenticate and deliver to each such beneficial owner, Physical Securities registered in such beneficial owner’s name having an
aggregate principal amount equal to the aggregate principal amount of its exchanged beneficial interest and bearing any legends that such Physical Securities are required to bear under this Indenture and any applicable law; and 

(C) the Security Registrar, in accordance with the Applicable Procedures, will cause the principal amount of each relevant Global Security to
be decreased by the aggregate principal amount of the beneficial interests so exchanged. If all of the beneficial interests in a Global Security are so exchanged, such Global Security will be deemed surrendered to the Trustee for cancellation, and
the Trustee will cause such Global Security to be cancelled in accordance with the Applicable Procedures. 
 In each of the cases described
in clauses (1), (2) and (3) above, the Company may rely on the Depository to provide all names of beneficial owners and their respective principal amounts beneficially owned and may issue Physical Securities registered in the names and
amounts so provided by the Depository. 
 (d) Physical Securities. Except to the extent otherwise provided in Section 2.03(a)
hereof, Physical Securities may be transferred or exchanged in accordance with Section 305 of the Base Indenture. 
 Section 2.04
Payments on the Securities. 
 (a) In General. Each Security will accrue interest at a rate equal to 3.25% per annum from
the most recent date to which interest has been paid or duly provided for, or, if no interest has been paid or duly provided for, the Issue Date. Interest on a Security will cease to accrue upon the earliest of the Maturity Date, subject to the
provisions of Article 3 hereof, any Fundamental Change Purchase Date for such Security, and subject to the provisions of Article 4 hereof, any Conversion Date for such Security. Interest on any Security will be payable semi-annually in arrears on
each Interest Payment Date, beginning October 1, 2014, to the Holder of such Security as of the Close of Business on the Regular Record Date immediately preceding the applicable Interest Payment Date. As provided in Section 310 of the Base
Indenture, interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. Pursuant to Section 6.04 hereof, in certain circumstances, the Company may be obligated to pay Holders Supplementary Interest. 

The Securities will mature on the Maturity Date, and on the Maturity Date, each Holder of a then Outstanding Security will be entitled on such
date to receive $1,000 in cash for each $1,000 in principal amount of then Outstanding Securities held, together with accrued and unpaid interest to, but not including, the Maturity Date on such then Outstanding Securities. 

Notwithstanding anything to the contrary, if the Maturity Date or any Interest Payment Date or Fundamental Change Purchase Date or any
Conversion Date falls, or if any payment, delivery, notice or other action by the Company is otherwise due, on a day that is not a Business Day, then any action to be taken on such date need not be taken on such date, but may be taken on the
immediately following Business Day with the same force and effect as if taken on such date, and no additional interest will accrue and no Default shall occur on account of such delay. 

  
 16 

 (b) Method of Payment. The Company will pay the principal of, the Fundamental Change
Purchase Price for, and any cash portion of the Settlement Amount with respect to, any Physical Security to the Holder of such Security in cash at the designated office of the Paying Agent in the borough of Manhattan in The City of New York, New
York, one Business Day prior to the relevant payment or settlement date, as the case may be. The Company will pay any interest on any Physical Security to the Holder of such Security (i) if such Holder holds $2,000,000 or less aggregate
principal amount of Securities, by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Securities, (A) by check mailed to such Holder’s registered
address or, (B) if such Holder delivers to the Security Registrar a written request that the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each
Regular Record Date occurring during the period beginning on the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Security Registrar a written instruction to the contrary, by wire
transfer of immediately available funds to the account specified by such Holder. 
 The Company will pay the principal of, interest on, the
Fundamental Change Purchase Price for, and any cash portion of the Settlement Amount with respect to, any Global Security to the Depository by wire transfer of immediately available funds on the relevant payment date in accordance with Applicable
Procedures. 
 (c) Defaulted Payments. The Company shall pay any interest on the Securities that is payable, but is not
punctually paid or duly provided for, on the applicable Interest Payment Date, in accordance with Section 307 of the Base Indenture. 

ARTICLE 3 
 REDEMPTIONS
AND PURCHASES 
 Section 3.01 Amendments to the Base Indenture. 

(a) No Redemption. Article 11 of the Base Indenture shall not apply with respect to the Securities. 

(b) No Sinking Fund. Article 12 of the Base Indenture shall not apply with respect to the Securities. 

Section 3.02 Purchase at Option of Holders upon a Fundamental Change. (a) If a Fundamental Change occurs, then each Holder
shall have the right, at such Holder’s option, to require the Company to purchase for cash all of such Holder’s Securities, or any portion thereof such that the remaining principal amount of each Security that is not purchased in full
equals $1,000 or an integral multiple of $1,000 in excess thereof, on a date (the “Fundamental Change Purchase Date”) specified by the Company that is not less than 20 calendar days or more than 

  
 17 

 
35 calendar days following the date on which the Company delivers the Fundamental Change Company Notice, at a purchase price equal to 100% of the principal amount thereof, plus accrued and
unpaid interest thereon, if any, to, but excluding, the Fundamental Change Purchase Date (the “Fundamental Change Purchase Price”); provided, however, that if the Company purchases a Security on a Fundamental Change
Purchase Date that is after a Regular Record Date and on or prior to the Interest Payment Date corresponding to such Regular Record Date, the Company shall instead pay such accrued and unpaid interest on such Security on the Interest Payment Date to
the Holder of record of such Security as of such Regular Record Date. 
 Purchases of Securities under this Section 3.02 shall be made,
at the option of the Holder thereof, upon: 
 (1) if the Securities to be purchased are Physical Securities, delivery to the Paying Agent by
the Holder of a duly completed notice (the “Fundamental Change Purchase Notice”) in the form set forth in Attachment 2 to the Form of Security attached hereto as Exhibit A and of the Securities, duly endorsed
for transfer, on or before the Close of Business on the Business Day immediately preceding the Fundamental Change Purchase Date, subject to extensions to comply with applicable law (the “Fundamental Change Expiration Time”); and

 (2) if the Securities to be purchased are Global Securities, delivery of the Securities, by book-entry transfer, in compliance with the
Applicable Procedures of the Depository and the satisfaction of any other requirements of the Depository in connection with tendering beneficial interests in a Global Security for purchase, by the Fundamental Change Expiration Time. 

The Fundamental Change Purchase Notice in respect of any Securities to be purchased shall state: 

(1) if certificated, the certificate numbers of such Securities; 

(2) the portion of the principal amount of such Securities, which must be such that the principal amount that is not to be purchased of each
Security that is not to be purchased in full equals $1,000 or an integral multiple of $1,000 in excess thereof; and 
 (3) that such
Securities are to be purchased by the Company pursuant to the applicable provisions of the Securities and this Indenture. 
 Notwithstanding
anything herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Purchase Notice contemplated by this Section 3.02 shall have the right to withdraw, in whole or in part, such Fundamental Change Purchase Notice
at any time prior to the Fundamental Change Expiration Time by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 3.04. 

The Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental Change Purchase Notice or written notice of
withdrawal thereof. 

  
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 (b) On or before the 20th calendar day after the occurrence of a Fundamental Change, the
Company shall provide to all Holders of the Securities, the Trustee and the Paying Agent (in the case of any Paying Agent other than the Trustee) a notice (the “Fundamental Change Company Notice”) of the occurrence of such
Fundamental Change and of the purchase right at the option of the Holders arising as a result thereof. Such notice shall be sent by first class mail or, in the case of any Global Securities, in accordance with the procedures of the Depository for
providing notices. Simultaneously with providing such Fundamental Change Company Notice, the Company shall publish this information in a newspaper of general circulation in The City of New York or publish the information on the Company’s
website or through such other public medium as the Company may use at that time. 
 Each Fundamental Change Company Notice shall
specify: 
 (1) the events causing the Fundamental Change; 

(2) the date of the Fundamental Change; 

(3) the last date on which a Holder of Securities may exercise the purchase right pursuant to this Article 3; 

(4) the Fundamental Change Purchase Price; 

(5) the Fundamental Change Purchase Date; 

(6) the name and address of the Paying Agent and the Conversion Agent, if applicable; 

(7) the applicable Conversion Rate and any adjustments to the applicable Conversion Rate; 

(8) that the Securities with respect to which a Fundamental Change Purchase Notice has been delivered by a Holder may be converted only if the
Holder withdraws the Fundamental Change Purchase Notice in accordance with this Indenture; 
 (9) that the Holder shall have the right to
withdraw any Securities surrendered for purchase prior to the Fundamental Change Expiration Time; and 
 (10) the procedures that Holders
must follow to require the Company to purchase their Securities. 
 No failure of the Company to give the foregoing notices and no defect
therein shall limit the purchase rights of the Holders of Securities or affect the validity of the proceedings for the purchase of the Securities pursuant to this Section 3.02. 

(c) Notwithstanding the foregoing, there shall be no purchase of any Securities pursuant to this Section 3.02 if the principal amount of
the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to the Fundamental Change Purchase Date 

  
 19 

 
(except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Purchase Price with respect to such Securities). The Paying Agent will
promptly return to the respective Holders thereof any Physical Securities held by it during the acceleration of the Securities (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change
Purchase Price with respect to such Securities) and shall deem to be cancelled any instructions for book-entry transfer of the Securities in compliance with the procedures of the Depository, in which case, upon such return or cancellation, as the
case may be, the Fundamental Change Purchase Notice with respect thereto shall be deemed to have been withdrawn. 
 Section 3.03
Effect of Fundamental Change Purchase Notice. Upon receipt by the Paying Agent of a Fundamental Change Purchase Notice specified in Section 3.02, the Holder of the Security in respect of which such Fundamental Change Purchase Notice was
given shall (unless such Fundamental Change Purchase Notice is withdrawn in accordance with Section 3.04) thereafter be entitled to receive solely the Fundamental Change Purchase Price in cash with respect to such Security (and any previously
accrued and unpaid interest on such Security). Such Fundamental Change Purchase Price shall be paid to such Holder, subject to receipt of funds by the Paying Agent, on the later of (x) the applicable Fundamental Change Purchase Date (provided
the conditions in Section 3.02 have been satisfied) and (y) the time of delivery or book-entry transfer of such Security to the Paying Agent by the Holder thereof in the manner required by Section 3.02, subject in each case to
extensions to comply with applicable law. 
 Section 3.04 Withdrawal of Fundamental Change Purchase Notice. A Fundamental Change
Purchase Notice may be withdrawn (in whole or in part) by means of a written notice of withdrawal delivered to the Paying Agent in accordance with the Fundamental Change Company Notice at any time prior to the Fundamental Change Expiration Time,
specifying: 
 (1) the principal amount of the Securities with respect to which such notice of withdrawal is being submitted; 

(2) if Physical Securities have been issued, the certificate numbers of the withdrawn Securities; and 

(3) the principal amount, if any, of each Security that remains subject to the Fundamental Change Purchase Notice, which must be such that the
principal amount not to be purchased equals $1,000 or an integral multiple of $1,000 in excess thereof; 
 provided, however, that if the
Securities are Global Securities, the notice must comply with Applicable Procedures of the Depository. 
 The Paying Agent will promptly
return to the respective Holders thereof any Physical Securities with respect to which a Fundamental Change Purchase Notice has been withdrawn in compliance with the provisions of this Section 3.04. 

Section 3.05 Deposit of Fundamental Change Purchase Price. One Business Day prior to the Fundamental Change Purchase Date, the
Company shall deposit with the Paying Agent 

  
 20 

 
(or, if the Company or a Subsidiary or an Affiliate of either of them is acting as the Paying Agent, shall segregate and hold in trust as provided herein) an amount of money (in immediately
available funds if deposited on such Business Day) sufficient to pay the Fundamental Change Purchase Price of all the Securities or portions thereof that are to be purchased as of the Fundamental Change Purchase Date. If the Paying Agent holds cash
sufficient to pay the Fundamental Change Purchase Price of the Securities for which a Fundamental Change Purchase Notice has been tendered and not withdrawn in accordance with this Indenture on the Fundamental Change Purchase Date, then as of such
Fundamental Change Purchase Date, (a) such Securities will cease to be Outstanding and interest will cease to accrue thereon (whether or not book-entry transfer of such Securities is made or such Securities have been delivered to the Paying
Agent) and (b) all other rights of the Holders in respect thereof will terminate (other than the right to receive the Fundamental Change Purchase Price upon delivery or book-entry transfer of such Securities). 

Section 3.06 Securities Purchased in Whole or in Part. Any Security that is to be purchased, whether in whole or in part, shall be
surrendered at the office of the Paying Agent (with, if the Company or the Trustee so requires in the case of Physical Securities, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly
executed by, the Holder thereof or such Holder’s attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security, without service charge, a new Security or
Securities, of any authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for, the portion of the principal amount of the Security so surrendered that is not purchased. 

Section 3.07 Covenant To Comply with Applicable Laws upon Purchase of Securities. In connection with any offer to purchase
Securities under Section 3.02, the Company shall, in each case if required by law, (i) comply with Rule 13e-4, Rule 14e-1 and any other tender offer rules under the Exchange Act that may then be applicable, (ii) file a Schedule TO or
any other required schedule under the Exchange Act and (iii) otherwise comply with all federal and state securities laws applicable to the Company in connection with such purchase offer, in each case, so as to permit the rights and obligations
under Section 3.02 to be exercised in the time and in the manner specified in Section 3.02. 
 Section 3.08 Repayment to
the Company. To the extent that the aggregate amount of cash deposited by the Company pursuant to Section 3.05 exceeds the aggregate Fundamental Change Purchase Price of the Securities or portions thereof that the Company is obligated to
purchase as of the Fundamental Change Purchase Date, then, following the Fundamental Change Purchase Date, the Paying Agent shall promptly return any such excess to the Company. 

ARTICLE 4 
 CONVERSION

 Section 4.01 Right To Convert. (a) Subject to and upon compliance with the provisions of the Indenture, each Holder
shall have the right, at such Holder’s option, to convert 

  
 21 

 
its Securities, or any portion of its Securities such that the principal amount that remains Outstanding of each Security that is not converted in full equals $1,000 or an integral multiple of
$1,000 in excess thereof, into the Settlement Amount determined in accordance with Section 4.03(a) hereof, (x) prior to the Close of Business on the Business Day immediately preceding October 1, 2020, only upon satisfaction of one or
more of the conditions described in Section 4.01(b) hereof, and (y) on or after October 1, 2020, at any time prior to the Close of Business on the second Scheduled Trading Day immediately preceding the Maturity Date. 

(b) (1) A Holder may surrender Securities for conversion during any fiscal quarter commencing after June 30, 2014 (and only during such
fiscal quarter) if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days (whether or not consecutive) during the period of 30 consecutive Trading Days ending on the last Trading Day of the immediately preceding fiscal quarter
is greater than or equal to 130% of the Conversion Price in effect on each Trading Day. 
 (2) A Holder may surrender Securities for
conversion during the five Business Day period after any five consecutive Trading Day period (the “Measurement Period”) in which the Trading Price per $1,000 principal amount of Securities, as determined following a request by a
Holder in accordance with the procedures set forth in this Section 4.01(b)(2), for each Trading Day of such Measurement Period was less than 98% of the product of (i) the Conversion Rate in effect on such Trading Day and (ii) the Last
Reported Sale Price of the Common Stock on such Trading Day. The Trading Price shall be determined by the Bid Solicitation Agent pursuant to this Section 4.01(b)(2) and the definition of “Trading Price” set forth in Section 1.02
hereof. The Company shall provide written notice to the Bid Solicitation Agent (if other than the Company) of the three independent nationally recognized securities dealers selected by the Company in accordance with the definition of Trading Price,
along with the appropriate contact information for each. The Bid Solicitation Agent (if other than the Company) shall have no obligation to determine the Trading Price of the Securities unless the Company has requested such determination; and the
Company shall have no obligation to make such request (or, if the Company is the Bid Solicitation Agent, to determine the Trading Price of the Securities) unless a Holder of a Security provides it with reasonable evidence that the Trading Price per
$1,000 principal amount of Securities would be less than 98% of the product of (i) the Conversion Rate in effect on the next Trading Day and (ii) the Last Reported Sale Price of the Common Stock on such Trading Day. At such time, the
Company shall instruct the Bid Solicitation Agent (if other than the Company) to determine (or, if the Company is the Bid Solicitation Agent, the Company shall determine) the Trading Price per $1,000 principal amount of the Securities beginning on
the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Securities for a Trading Day is greater than or equal to 98% of the product of (i) the Conversion Rate in effect on such Trading Day
and (ii) the Last Reported Sale Price of the Common Stock on such Trading Day. Whenever the condition to conversion set forth in this Section 4.01(b)(2) has been met, but was not met on the immediately preceding Trading Day, the Company
will so notify the Holders and the Trustee. If, at any time after the condition to conversion set forth in this Section 4.01(b)(2) has been met, the condition to conversion set forth in this Section 4.01(b)(2) ceases to be met, the Company
will so notify the Holders and the Trustee on the first Trading Day on which such condition ceases to be met. 

  
 22 

 (3) If the Company elects to (x) issue to all or substantially all holders of the Common
Stock rights, options or warrants entitling them for a period of not more than 45 calendar days after the date of such issuance to subscribe for or purchase shares of the Common Stock, at a price per share less than the average of the Last Reported
Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the date of announcement of such issuance; or (y) distribute to all or substantially all holders of the Common Stock the
Company’s assets, debt securities or rights to purchase the Company’s securities, which distribution has a per-share value, as reasonably determined by the Board of Directors, exceeding 10% of the Last Reported Sale Price of the Common
Stock on, and including, the Trading Day immediately preceding the date of announcement for such distribution, then, the Company must deliver notice of such issuance or distribution, and of the Ex-Dividend Date for such issuance or distribution, to
the Holders at least 30 Scheduled Trading Days prior to the Ex-Dividend Date for such issuance or distribution. Holders may surrender their Securities for conversion at any time during the period beginning on the 25th Scheduled Trading Day
immediately prior to the Ex-Dividend Date for such issuance or distribution and ending on the earlier of (a) the Close of Business on the Business Day immediately preceding the Ex-Dividend Date for such issuance or distribution or (b) its
announcement that such issuance or distribution will not take place, even if the Securities are not otherwise convertible at such time; provided, however, that Holders may not convert their Securities pursuant to this
Section 4.01(b)(3) if the Company provides that Holders shall participate, at the same time and upon the same terms as holders of the Common Stock, and as a result of holding the Securities, in the relevant issuance or distribution without
having to convert their Securities as if they held a number of shares of the Common Stock equal to the Conversion Rate in effect on the Ex-Dividend Date for such issuance or distribution multiplied by the principal amount (expressed in
thousands) of Securities held by such Holder on the Ex-Dividend Date for such issuance or distribution. 
 (4) If (i) a Make-Whole
Fundamental Change occurs or (ii) the Company is a party to (a) a consolidation, merger, binding share exchange, pursuant to which the Common Stock would be converted into cash, securities or other assets or (b) a sale, conveyance,
transfer or lease of all or substantially all of the assets of the Company and its Subsidiaries, on a consolidated basis, to another person (other than any of the Company’s Subsidiaries), the Securities may be surrendered for conversion at any
time from or after the date that is 25 Scheduled Trading Days prior to the anticipated Fundamental Change Effective Date or the anticipated effective date of such sale, conveyance, transfer or lease, as the case may be (or, if later, the Business
Day after the Company gives notice of such transaction) until the Close of Business (i) if such transaction is a Fundamental Change, on the Business Day immediately preceding the Fundamental Change Purchase Date, and, (ii) otherwise, on
the 35th Business Day immediately following the effective date for such transaction. The Company will notify the Holders of any such transaction: 

(A) as promptly as practicable following the date the Company publicly announces such transaction but in no event less than 35 Scheduled
Trading Days prior to the anticipated effective date of such transaction; or 

  
 23 

 (B) if the Company does not have knowledge of such transaction at least 35 Scheduled Trading Days
prior to the anticipated effective date of such transaction, within one Business Day of the date upon which the Company receives notice, or otherwise becomes aware, of such transaction, but in no event later than the actual effective date of such
transaction. 
 (c) Notwithstanding any other provision of the Securities or this Indenture, no Holder of Securities will be entitled to
receive Common Stock following conversion of such Securities to the extent that receipt of such Common Stock would cause such Holder to exceed the ownership limits contained in the Company’s charter. 

(d) If any delivery of shares of Common Stock owed to a Holder upon conversion of Securities is not made, in whole or in part, as a result of
the limitations described in Section 4.01(c), the Company’s obligation to make such delivery shall not be extinguished and the Company shall deliver such shares as promptly as practicable after any such converting Holder gives notice to
the Company that such delivery would not result in it being the beneficial or constructive owner of more than 7.5% (by number or value) of the shares of Common Stock outstanding at such time. 

Section 4.02 Conversion Procedures. 

(a) Each Security shall be convertible at the office of the Conversion Agent and, if applicable, in accordance with the Applicable Procedures
of the Depository. 
 (b) To exercise the conversion privilege with respect to a beneficial interest in a Global Security, the Holder must
complete the appropriate instruction form for conversion pursuant to the Depository’s book-entry conversion program, furnish appropriate endorsements and transfer documents if required by the Company or the Conversion Agent, and pay the funds,
if any, required by Section 4.02(f) and any taxes or duties if required pursuant to Section 4.02(g), and the Conversion Agent must be informed of the conversion in accordance with the customary practice of the Depository. 

To exercise the conversion privilege with respect to any Physical Securities, the Holder of such Physical Securities shall: 

(1) complete and manually sign a conversion notice in the form set forth in the Form of Notice of Conversion (the “Conversion
Notice”) or a facsimile of the Conversion Notice; 
 (2) deliver the Conversion Notice, which is irrevocable, and the Security to
the Conversion Agent; 
 (3) if required, furnish appropriate endorsements and transfer documents, 

  
 24 

 (4) if required, make any payment required under Section 4.02(f); and 

(5) if required, pay all transfer or similar taxes as set forth in Section 4.02(g). 

If, upon conversion of a Security, any shares of Common Stock are to be issued to a person other than the Holder of such Security, the related Conversion
Notice shall include such other person’s name and address. 
 If a Security is subject to a Fundamental Change Purchase Notice, such
Security may not be converted unless such Fundamental Change Purchase Notice is withdrawn in accordance with Section 3.04 hereof prior to the relevant Fundamental Change Expiration Time. 

For any Security, the first Business Day on which the Holder of such Security satisfies all of the applicable requirements set forth
above with respect to such Security and on which conversion of such Security is not otherwise prohibited under this Indenture shall be the “Conversion Date” with respect to such Security. 

Each conversion shall be deemed to have been effected as to any such Securities (or portion thereof) surrendered for conversion at the
Close of Business on the applicable Conversion Date; provided, however, that the person in whose name the certificate for any shares of Common Stock delivered upon conversion is registered shall be treated as a stockholder of record as
of the Close of Business on (i) such Conversion Date (in the case of Physical Settlement) or (ii) the last Trading Day of the applicable Cash Settlement Averaging Period (in the case of Combination Settlement) except to the extent required
by Section 4.04 hereof. At the Close of Business on the Conversion Date for a Security, the converting Holder shall no longer be the Holder of such Security. 

(c) Endorsement. Any Securities surrendered for conversion shall, unless shares of Common Stock issuable on conversion are to be
issued in the same name as the registration of such Securities, be duly endorsed by, or be accompanied by instruments of transfer in form satisfactory to the Company duly executed by, the Holder or its duly authorized attorney. 

(d) Physical Securities. If any Securities in a denomination greater than $1,000 shall be surrendered for partial conversion,
the Company shall execute and the Trustee shall authenticate and deliver to the Holder of the Securities so surrendered, without charge, new Securities in authorized denominations in an aggregate principal amount equal to the unconverted portion of
the surrendered Securities that is in an authorized denomination. 
 (e) Global Securities. Upon the conversion of a
beneficial interest in Global Securities, the Conversion Agent shall make a notation in its records as to the reduction in the principal amount represented thereby. The Company shall notify the Trustee in writing of any conversions of Securities
effected through any Conversion Agent other than the Trustee. 
 (f) Interest Due Upon Conversion. If Securities are converted
after the Close of Business on a Regular Record Date for the payment of interest, Holders of such Securities at the Close of Business on such Regular Record Date will receive the interest payable on such

  
 25 

 
Securities on the corresponding Interest Payment Date notwithstanding the conversion. If a Holder converts a Security after the Close of Business on a Regular Record Date but prior to the Open of
Business on the Interest Payment Date corresponding to such Regular Record Date, such Holder must accompany such Security with an amount of cash equal to the amount of interest that will be payable on such Security on the corresponding Interest
Payment Date; provided, however, that a Holder need not make such payment (1) if the Conversion Date follows the Regular Record Date immediately preceding the Maturity Date; (2) if the Company has specified a Fundamental
Change Purchase Date that is after a Regular Record Date and on or prior to the corresponding Interest Payment Date and the Holder converts its Security after the Close of Business on such Regular Record Date and on or prior to the Open of Business
on such Interest Payment Date; or (3) to the extent of any overdue interest, if any overdue interest exists at the time of conversion with respect to such Security. For the avoidance of doubt, all Holders of Securities on the Regular Record
Date immediately preceding the Maturity Date and any Fundamental Change Purchase Date described in the preceding sentence will receive the full interest payment due on the Maturity Date or other applicable Interest Payment Date regardless of whether
their Securities have been converted following such Regular Record Date. 
 (g) Taxes Due upon Conversion. If a Holder
converts a Security, the Company will pay any documentary, stamp or similar issue or transfer tax due on the issue of any shares of the Common Stock upon the conversion, unless the tax is due because the Holder requests that any shares be issued in
a name other than the Holder’s name, in which case the Holder will pay that tax. 
 Section 4.03 Settlement Upon
Conversion. 
 (a) Settlement Amount. Subject to this Section 4.03, if a Holder converts a Security, the Company
shall pay or deliver to such Holder, as the case may be, in respect of each $1,000 principal amount of Securities being converted, solely cash, solely shares of Common Stock or a combination of cash and Common Stock (the “Settlement
Amount”), at the Company’s election, as set forth in this Section 4.03. 
 (1) The Company shall pay or deliver,
as the case may be, the Settlement Amount on the third Trading Day immediately following the last Trading Day of the Cash Settlement Averaging Period; provided, that; 

(A) if the Company elects to fulfill its conversion obligation solely in shares of Common Stock, the Company shall deliver such Common Stock
on the third Trading Day immediately following the relevant Conversion Date; and 
 (B) if prior to the relevant Conversion Date, the Common
Stock has been replaced by Reference Property consisting solely of cash, pursuant to Section 4.07, the Company shall pay such cash on the third Trading Day immediately following the relevant Conversion Date. Notwithstanding the foregoing, if
any information required to calculate the conversion obligation is not available as of the applicable settlement date, the Company will deliver the additional shares of Common Stock resulting from such adjustment on the third Trading Day after the
earliest Trading Day on which such calculation can be made. 

  
 26 

 (2) All conversions during the Final Conversion Period will be settled in the same relative
proportions of cash and/or shares of Common Stock (the “Settlement Method”). 
 (3) Prior to the first day of the Final
Conversion Period, the Company will elect (or be deemed to have elected) the same Settlement Method for all conversions occurring on any given Conversion Day. Except for any conversions that occur during the Final Conversion Period, the Company need
not elect the same Settlement Method with respect to conversions that occur on different Conversion Dates. 
 (4) With respect to each
Conversion Date occurring prior to the Final Conversion Period, the Company shall deliver a notice (each, a “Settlement Notice”) of the relevant Settlement Method not later than the Close of Business on the second Trading Day
following the related Conversion Date. With respect to each Conversion Date occurring during the Final Conversion Period, the Company shall, prior to the Final Conversion Period, deliver a single Settlement Notice that shall apply to all conversions
occurring during the Final Conversion Period. Each such Settlement Notice shall specify whether the Company shall satisfy its conversion obligation by (i) delivering solely shares of Common Stock (“Physical Settlement”),
(ii) paying solely cash (“Cash Settlement”) or (iii) paying and delivering, as the case may be, a combination of cash and shares of Common Stock (“Combination Settlement”). In the case of an election that
provides for Combination Settlement, the relevant Settlement Notice shall indicate the Specified Dollar Amount. If the Company does not deliver a Settlement Notice within the time periods specified above, or if the Company provides a Settlement
Notice within the time periods specified above and elects Combination Settlement but the Settlement Notice does not specify a Specified Dollar Amount, the Company will be deemed to have elected Combination Settlement with a Specified Dollar Amount
of $1,000. Notwithstanding the foregoing, if the Company shall have made a Physical Settlement Election, then the Company shall no longer be required to provide the notices specified in this Section 4.03(a)(4) and the Company shall be required
to satisfy all conversion obligations resulting from conversions of notes subsequent to the Physical Settlement Election Date entirely in shares of Common Stock. 

(5) The Settlement Amount in respect of any conversion shall be computed as follows: 

(A) if the Company elects to satisfy its conversion obligation in respect of such conversion through Physical Settlement, the Company will
deliver to the converting Holder a number of shares of Common Stock equal to (1) (i) the aggregate principal amount of Securities to be converted, divided by (ii) $1,000, multiplied by (2) the then-applicable
Conversion Rate on the date the converting Holder becomes a record owner of Common Stock pursuant to the last paragraph of Section 4.02(b); 

(B) if the Company elects to satisfy its conversion obligation in respect of such conversion through Cash Settlement, the Company shall pay to
the converting Holder cash in an amount per $1,000 principal amount of Securities being converted equal to the sum of the Daily Conversion Values for each of the 20 consecutive Trading Days during the related Cash Settlement Averaging Period; and

  
 27 

 (C) if the Company elects to satisfy its conversion obligation in respect of such conversion
through Combination Settlement, the Company shall pay and deliver to the converting Holder, as the case may be, in respect of each $1,000 principal amount of Securities being converted, a Settlement Amount equal to the sum of the Daily Settlement
Amounts for each of the 20 consecutive Trading Days during the related Cash Settlement Averaging Period. 
 (6) The “Daily
Settlement Amount” for each of the 20 consecutive Trading Days of the applicable Cash Settlement Averaging Period, will consist of: 

(A) cash equal to the lesser of (i) a dollar amount per Security to be received upon conversion as specified by the Company in the
Settlement Notice (the “Specified Dollar Amount”), if any, divided by 20 (such quotient being referred to as the “Daily Measurement Value”) and (ii) the Daily Conversion Value; and 

(B) to the extent the Daily Conversion Value for such Trading Day exceeds the Daily Measurement Value for such Trading Day, a number of shares
of Common Stock equal to (i) the difference between the Daily Conversion Value and the Daily Measurement Value, divided by (ii) the Daily VWAP of the Common Stock for such Trading Day. 

(7) In the case of Cash Settlement or Combination Settlement, the Settlement Amount shall be determined by the Company promptly following the
last day of the Cash Settlement Averaging Period. Promptly after such determination of the Settlement Amount and the amount of cash deliverable in lieu of fractional shares (if any), the Company shall notify the Trustee and the Conversion Agent of
the Daily Settlement Amounts or the Daily Conversion Values, as the case may be, and the amount of cash deliverable in lieu of fractional shares of Common Stock. The Trustee and the Conversion Agent shall be entitled to rely exclusively on the
notice given by the Company and shall have no responsibility for any such determination. 
 (8) At any time prior to the Final Conversion
Period, the Company may, in its sole discretion and without the consent of the Holders, make an irrevocable Physical Settlement Election. Such Physical Settlement Election shall become effective upon delivery by the Company of a Physical Settlement
Election Notice to the Trustee and each of the Holders. Simultaneously with the giving of such Physical Settlement Election Notice, the Company shall disseminate a press release through Dow Jones & Company, Inc. or Bloomberg Business News
announcing such Physical Settlement Election or publish such information in The Wall Street Journal or another newspaper of general circulation in the City of New York or on the Company’s website. From and after the Physical Election Settlement
Date, the Company shall settle all conversion obligations as though it had elected Physical Settlement in accordance with the provisions of Section 4.03. 

(b) Fractional Shares. Notwithstanding the foregoing, the Company will not issue fractional shares of Common Stock as part of the
Settlement Amount due with respect to any converted Security in respect of which shares of Common Stock are deliverable. Instead, if any such Settlement Amount includes a fraction of a share of Common Stock, the Company will, in lieu of delivering
such fraction of a share of Common Stock, pay an amount of cash equal to the product of (i) such fraction of a share and (ii) the Daily VWAP of the Common Stock on the 

  
 28 

 
relevant Conversion Data (in the case of Physical Settlement) or on the last Trading Day of the applicable Cash Settlement Averaging Period (in the case of Combination Settlement), subject in
each case to the following paragraph. 
 If a Holder surrenders more than one Security for conversion on a single Conversion Date, the
Company will calculate the amount of cash and the number of shares of Common Stock due with respect to such Securities as if such Holder had surrendered for conversion one Security having an aggregate principal amount equal to the sum of the
principal amounts of each of the Securities surrendered for conversion by such Holder on such Conversion Date. 
 (c) Settlement of
Accrued Interest and Deemed Payment of Principal. If a Holder converts a Security, the Company will not adjust the Conversion Rate to account for any accrued and unpaid interest on such Security and the Company’s delivery of the amount of
cash and the number of shares of Common Stock, if any, into which a Security is convertible will be deemed to satisfy and discharge in full the Company’s obligation to pay the principal of, and accrued and unpaid interest, if any, on, such
Security to, but excluding, the Conversion Date; provided, however, that if a Holder converts a Security after a Regular Record Date and prior to the Open of Business on the corresponding Interest Payment Date, the Company will still
be obligated to pay the interest due on such Interest Payment Date to the Holder of such Security on such Regular Record Date (provided the Holder makes the interest payment upon conversion if so required by Section 4.02(f)). 

As a result, except as otherwise provided in the proviso to the immediately preceding sentence, any accrued and unpaid interest with respect
to a converted Security will be deemed to be paid in full rather than cancelled, extinguished or forfeited. In addition, if the Settlement Amount for any Security includes both cash and shares of the Common Stock, accrued and unpaid interest will be
deemed to be paid first out of the amount of cash delivered upon such conversion. In no event will a Holder be entitled to receive any dividend or other distribution with respect to any Common Stock issued on conversion of such Holder’s
Securities if the applicable Conversion Date is after the Regular Record Date for such dividend or distribution. Prior to the settlement of any conversion in accordance with this Section 4.03, a Holder shall not be the owner of any Common Stock
issuable upon conversion of such Holder’s Securities. 
 (d) Notices. Whenever a Conversion Date occurs with respect to a
Security, the Conversion Agent will (provided it has received a Conversion Notice from the Depository or the Holder), as promptly as possible, and in no event later than the Business Day immediately following such Conversion Date, deliver to the
Company and the Trustee, if it is not then the Conversion Agent, notice that a Conversion Date has occurred, which notice will state such Conversion Date, the principal amount of Securities converted on such Conversion Date and the names of the
Holders that converted Securities on such Conversion Date. 
 Section 4.04 Adjustment of Conversion Rate. The Conversion
Rate will be adjusted as described in this Section 4.04, except that the Company shall not make any adjustment to the Conversion Rate if Holders participate (other than in the case of a share split or share combination), at the same time and
upon the same terms as holders of the Common Stock and as 

  
 29 

 
a result of holding the Securities, in any of the transactions described below without having to convert their Securities, as if they held a number of shares of Common Stock equal to the
applicable Conversion Rate, multiplied by the principal amount (expressed in thousands) of Securities held by such Holder. 
 (a) If
the Company exclusively issues shares of Common Stock as a dividend or distribution on all or substantially all shares of the Common Stock, or if the Company effects a share split or share combination, the Conversion Rate will be adjusted based on
the following formula: 
  

					
	 CR1
	  	=	  	CR0 x         OS1    
		  		  	                   OS0

 where, 
  

					
	 CR0
	  	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the Open of Business on the effective date of such share split or combination,
as applicable;
			
	 CR1
	  	=	  	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date or such effective date;
			
	 OS0
	  	=	  	the number of shares of Common Stock outstanding immediately prior to the Open of Business on such Ex-Dividend Date or such effective date, as applicable, before giving effect to such dividend, distribution, share split or share
combination; and
			
	 OS1
	  	=	  	the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination, as applicable.

 Any adjustment made under this Section 4.04(a) shall become effective immediately after the Open of
Business on the Ex-Dividend Date for such dividend or distribution, or immediately after the Open of Business on the effective date for such share split or share combination. If any dividend or distribution of the type described in this
Section 4.04(a) is declared but not so paid or made, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution to the Conversion Rate that would then
be in effect if such dividend or distribution had not been declared. 
 (b) If the Company issues to all or substantially all holders of the
Common Stock any rights, options or warrants entitling them, for a period of not more than 45 calendar days after the date of such issuance, to subscribe for or purchase shares of the Common Stock, at a price per share less than the average of the
Last Reported Sale Prices of the Common Stock for the 10 

  
 30 

 
consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance, the Conversion Rate will be increased based on the
following formula: 
  

					
	CR1	  	=	  	CR0 x         OS0 + X    
		  		  	                   OS0 + Y

 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such issuance;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the Open of Business on such Ex-Dividend Date;
			
	X	  	=	  	the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and
			
	Y	  	=	  	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants divided by the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive
Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of the issuance of such rights, options or warrants.

 Any increase made under this Section 4.04(b) will be made successively whenever any such rights, options
or warrants are issued and shall become effective immediately after the Open of Business on the Ex-Dividend Date for such issuance. To the extent that such rights, options or warrants are not exercised prior to their expiration or shares of Common
Stock are not delivered upon the expiration of such rights, options or warrants, the Conversion Rate shall be readjusted to the Conversion Rate that would then be in effect had the increase with respect to the issuance of such rights, options or
warrants been made on the basis of delivery of only the number of shares of Common Stock actually delivered. If such rights, options or warrants are not so issued, or if such rights, options or warrants are not exercised prior to their expiration,
the Conversion Rate shall be decreased to be the Conversion Rate that would then be in effect if such Ex-Dividend Date for such issuance had not occurred. 

For purposes of this Section 4.04(b) and Section 4.01(b)(3) hereof, in determining whether any rights, options or warrants entitle
the holders of the Common Stock to subscribe for or purchase shares of the Common Stock at a price per share less than such average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on the Trading
Day immediately preceding the date of announcement for such issuance, and in 

  
 31 

 
determining the aggregate offering price of such shares of the Common Stock, there shall be taken into account any consideration received by the Company for such rights, options or warrants and
any amount payable on exercise or conversion thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. 

(c) If the Company distributes shares of its Capital Stock, evidences of its indebtedness, other assets or property of the Company or rights,
options or warrants to acquire its Capital Stock or other securities, to all or substantially all holders of the Common Stock, excluding: 

(1) dividends or distributions, rights options or warrants as to which an adjustment was effected pursuant to Section 4.04(a) hereof or
Section 4.04(b) hereof; 
 (2) dividends or distributions paid exclusively in cash as to which an adjustment was effected pursuant to
Section 4.04(d) hereof; and 
 (3) Spin-Offs as to which the provisions set forth below in this Section 4.04(c) shall apply; 

then the Conversion Rate shall be increased based on the following formula: 
  

					
	CR1	  	=	  	CR0 x    
        SP0        
		  		  	                SP0 - FMV

 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such distribution;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;
			
	SP0	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and
			
	FMV	  	=	  	the fair market value (as determined by the Board of Directors) of the shares of the Company’s Capital Stock, evidences the Company’s indebtedness, other assets, or property of the Company or rights, options or warrants to
acquire the Company’s Capital Stock or other securities distributed with respect to each outstanding share of the Common Stock on the Ex-Dividend Date for such distribution.

 If “FMV” (as defined above) is equal to or greater than the “SP0” (as defined above), in lieu of the foregoing increase, each Holder of Securities shall receive, in respect of each $1,000 

  
 32 

 
principal amount of Securities it holds, at the same time and upon the same terms as holders of the Common Stock, the amount and kind of the Company’s Capital Stock, evidences of the
Company’s indebtedness, other assets or property of the Company or rights, options or warrants to acquire the Company’s Capital Stock or other securities that such Holder would have received as if such Holder owned a number of shares of
Common Stock equal to the Conversion Rate in effect on the Ex-Dividend Date for the distribution. 
 Any increase made under the portion of
this Section 4.04(c) will become effective immediately after the Open of Business on the Ex-Dividend Date for such distribution. If such distribution is not so paid or made, the Conversion Rate shall be decreased to be the Conversion Rate that
would then be in effect if such dividend or distribution had not been declared. 
 With respect to an adjustment pursuant to this
Section 4.04(c) where there has been a payment of a dividend or other distribution on the Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary of the Company or other
business unit of the Company, and such Capital Stock or similar equity interest is listed or quoted (or will be listed or quoted upon the consummation of the distribution) on a United States national securities exchange (a
“Spin-Off”), the Conversion Rate will be increased based on the following formula: 
  

					
	CR1	  	=	  	CR0 x       FMV0 +
MP0  
		  		  	                        MP0

 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such Spin-Off;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Open of Business on the Ex-Dividend Date for such Spin-Off;
			
	FMV0	  	=	  	the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of Common Stock applicable to one share of Common Stock over the first 10 consecutive Trading Day period after, and
including, the effective date of the Spin-Off (the “Valuation Period”); and
			
	MP0	  	=	  	the average of the Last Reported Sale Prices of Common Stock over the Valuation Period.

 The adjustment to the applicable Conversion Rate under the preceding paragraph of this Section 4.04(c)
will be made immediately after the Open of Business on the day after the last Trading Day of the Valuation Period, but will be given effect as of the Open of Business on the Ex-Dividend Date for the Spin-Off. If the Ex-Dividend Date for the Spin-Off
is less than 10 Trading Days prior to, and including, the end of the Cash Settlement Averaging Period in respect 

  
 33 

 
of any conversion, references within this Section 4.04(c) to 10 Trading Days shall be deemed replaced, for purposes of calculating the affected Daily Conversion Values in respect of that
conversion, with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date for the Spin-Off to, and including, the last Trading Day of such Cash Settlement Averaging Period. For purposes of determining the
applicable Conversion Rate, in respect of any conversion during the 10 Trading Days commencing on the Ex-Dividend Date for any Spin-Off, references within the portion of this Section 4.04(c) related to “Spin-Offs” to 10 Trading Days
shall be deemed replaced with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date for such Spin-Off to, and including, the relevant Conversion Date. 

For purposes of the second adjustment set forth in this clause 4.04(c), (i) the Last Reported Sale Price of any Capital Stock or similar
equity interest shall be calculated in a manner analogous to that used to calculate the Last Reported Sale Price of the Common Stock in the definition of “Last Reported Sale Price” set forth in Section 1.02 hereof, (ii) whether a
day is a Trading Day (and whether a day is a Scheduled Trading Day and whether a Market Disruption Event has occurred) for such Capital Stock or similar equity interest shall be determined in a manner analogous to that used to determine whether a
day is a Trading Day (or whether a day is a Scheduled Trading Day and whether a Market Disruption Event has occurred) for the Common Stock, and (iii) whether a day is a Trading Day to be included in a Valuation Period will be determined based
on whether a day is a Trading Day for both the Common Stock and such Capital Stock or similar equity interest. 
 Subject to
Section 4.04(g), for the purposes of this Section 4.04(c), rights, options or warrants distributed by the Company to all holders of the Common Stock entitling them to subscribe for or purchase shares of the Company’s Capital Stock
(either initially or under certain circumstances), which rights, options or warrants, until the occurrence of a specified event or events (a “Trigger Event”): (1) are deemed to be transferred with such shares of Common Stock;
(2) are not exercisable; and (3) are also issued in respect of future issuances of Common Stock, shall be deemed not to have been distributed for purposes of this Section 4.04(c), (and no adjustment to the Conversion Rate under this
Section 4.04(c) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall be deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate
shall be made under this Section 4.04(c). If any such right, option or warrant, distributed prior to the Issue Date are subject to events, upon the occurrence of which such rights, options or warrants become exercisable to purchase different
securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution and Ex-Dividend Date of such deemed distribution (in which case the original rights,
options or warrants shall be deemed to terminate and expire on such date without exercise by any of the holders). In addition, in the event of any distribution or deemed distribution of rights, options or warrants, or any Trigger Event or other
event (of the type described in the preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Rate under this Section 4.04(c) was made, (1) in the
case of any such rights, options or warrants which shall all have been redeemed or purchased without exercise by any holders thereof, upon such final  

  
 34 

 
redemption or purchase (x) the Conversion Rate shall be readjusted as if such rights, options or warrants had not been issued and (y) the Conversion Rate shall then again be readjusted
to give effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or purchase price received by holders of Common Stock with respect to such
rights, options or warrants (assuming each such holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of such redemption or purchase, and (2) in the case of such rights, options or warrants
which shall have expired or been terminated without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights and warrants had not been issued. 

For purposes of Section 4.04(a) hereof, Section 4.04(b) hereof and this Section 4.04(c), if any dividend or distribution to
which this Section 4.04(c) applies includes one or both of: 
 (A) a dividend or distribution of shares of Common Stock to which
Section 4.04(a) hereof also applies (the “Clause A Distribution”); or 
 (B) a dividend or distribution of rights,
options or warrants to which Section 4.04(b) hereof also applies (the “Clause B Distribution”), 
 then (i) such dividend
or distribution, other than the Clause A Distribution and the Clause B Distribution, shall be deemed to be a dividend or distribution to which this Section 4.04(c) applies (the “Clause C Distribution”) and any Conversion Rate
adjustment required to be made under this Section 4.04(c) with respect to such Clause C Distribution shall be made, (ii) the Clause B Distribution, if any, shall be deemed to immediately follow the Clause C Distribution and any Conversion
Rate adjustment required by Section 4.04(b) hereof with respect thereto shall then be made, except that, if determined by the Company, (A) the “Ex-Dividend Date” of the Clause B Distribution and the Clause A Distribution, if any,
shall be deemed to be the Ex-Dividend Date of the Clause C Distribution and (B) any shares of Common Stock included in the Clause A Distribution or the Clause B Distribution shall not be deemed to be “outstanding immediately prior to the
Open of Business on such Ex-Dividend Date” within the meaning of Section 4.04(b) hereof, and (iii) the Clause A Distribution, if any, shall be deemed to immediately follow the Clause C Distribution or the Clause B Distribution, as the
case may be, except that, if determined by the Company, (A) the “Ex-Dividend Date” of the Clause A Distribution and the Clause B Distribution, if any, shall be deemed to be the Ex-Dividend Date of the Clause C Distribution, and
(B) any shares of Common Stock included in the Clause A distribution shall not be deemed to be “outstanding immediately prior to the Open of Business on such Ex-Dividend Date or such effective date” within the meaning of
Section 4.04(a) hereof. 
 (d) If any cash dividend or distribution is made to all or substantially all holders of the
Common Stock to the extent that the aggregate of all such cash dividends or distributions paid in any quarter exceeds $0.77 (the “Dividend Threshold Amount”) for such quarter, the Conversion Rate shall be increased based on the
following formula: 
  

					
	CR1	  	=	  	CR0 x       (SP0 - T)  
		  		  	                (SP0 – C)

  
 35 

 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such dividend or distribution;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Open of Business on the Ex-Dividend Date for such dividend or distribution;
			
	SP0	  	=	  	the Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution
			
	T	  	=	  	the dividend threshold amount; and
			
	C	  	=	  	the amount in cash per share that the Company distributes to holders of the Common Stock

 The Dividend Threshold Amount is subject to adjustment on an inversely proportional basis whenever the
Conversion Rate is adjusted other than adjustments made pursuant to this Section 4.04(d). If an adjustment is required to be made as set forth in this Section 4.04(d) as a result of a distribution that is not a regular quarterly dividend,
the Dividend Threshold Amount will be deemed to be zero with respect to that particular adjustment. 
 If “C” (as defined above)
is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder shall receive, for each $1,000 principal amount of Securities it holds, at the
same time and upon the same terms as holders of shares of the Common Stock, the amount of cash that such Holder would have received if such Holder had owned a number of shares of Common Stock equal to the Conversion Rate on the Ex-Dividend Date for
such cash dividend or distribution. Such increase shall become effective immediately after the Open of Business on the Ex-Dividend Date for such dividend or distribution. If such dividend or distribution is not so paid, the Conversion Rate shall be
decreased to be the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 
 (e) If
the Company or any of its Subsidiaries make a payment in respect of a tender offer or exchange offer for the Common Stock, to the extent that the cash and value of any other consideration included in the payment per share of the Common Stock exceeds
the Last Reported Sale Price of the Common Stock on the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer (the “Offer Expiration Date”), the Conversion Rate
shall be increased based on the following formula: 
  

					
	CR1	  	=	  	CR0 x         AC + (SP1 x OS1)    
		  		  	                         OS0 x SP1

  
 36 

 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Close of Business on the Offer Expiration Date;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Close of Business the Offer Expiration Date;
			
	AC	  	=	  	the aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid or payable for shares of Common Stock purchased in such tender offer or exchange offer;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the expiration time of the tender or exchange offer on the Offer Expiration Date (prior to giving effect to the purchase of all shares accepted for purchase or
exchange in such tender offer or exchange offer);
			
	OS1	  		  	the number of shares of Common Stock outstanding immediately after the expiration time of the tender or exchange offer on the Offer Expiration Date (after giving effect to the purchase of all shares accepted for purchase or exchange
in such tender or exchange offer); and
			
	SP1	  		  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Offer Expiration Date.

 The adjustment to the applicable Conversion Rate under the preceding paragraph of this Section 4.04(e)
will be given effect at the Open of Business on the Trading Day next succeeding the Offer Expiration Date. If the Trading Day next succeeding the Offer Expiration Date is less than 10 Trading Days prior to, and including, the end of the Cash
Settlement Averaging Period in respect of any conversion, references within this Section 4.04(e) to 10 Trading Days shall be deemed replaced, for purposes of calculating the affected Daily Conversion Values in respect of that conversion, with
such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Offer Expiration Date to, and including, the last Trading Day of such Cash Settlement Averaging Period. For purposes of determining the
applicable Conversion Rate, in respect of any conversion during the 10 Trading Days commencing on the Trading Day next succeeding the Offer Expiration Date, references within this Section 4.04(e) to 10 Trading Days shall be deemed replaced with
such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Offer Expiration Date to, and including, the relevant Conversion Date. 

(f) Special Settlement Provisions. Notwithstanding anything to the contrary herein with respect to converted Securities as to
which Combination Settlement is applicable, if a Holder converts a Security and the Daily Settlement Amount for any Trading Day during the Cash Settlement Averaging Period applicable to such Security: 

(1) is calculated based on a Conversion Rate adjusted on account of any event described in Sections 4.04(a) through (e) hereof; and 

(2) includes any shares of Common Stock that, but for this provision, would entitle their holder to participate in such event; 

  
 37 

 then, although the Company will otherwise treat such Holder as the holder of record of such shares of Common
Stock on the last Trading Day of such Cash Settlement Averaging Period, the Company will not permit such Holder to participate in such event on account of such shares of Common Stock. 

In addition, if a Holder converts a Security to which Combination Settlement is applicable and: 

(1) the record date, effective date or Offer Expiration Date for any event that requires an adjustment to the Conversion Rate under any of
Sections 4.04(a) through (e) hereof occurs: 
 (a) on or after the first Trading Day of such Cash Settlement Averaging
Period; and 
 (b) on or prior to the last Trading Day of such Cash Settlement Averaging Period; and 

(2) the Daily Settlement Amount for any Trading Day in such Cash Settlement Averaging Period that occurs on or prior to such record date,
effective date or Offer Expiration Date: 
 (a) includes shares of the Common Stock that do not entitle their holder to
participate in such event; and 
 (b) is calculated based on a Conversion Rate that is not adjusted on account of such event;

 then on account of such conversion, the Company will, on such record date, effective date or Offer Expiration Date, treat such Holder, as a result of
having converted such Securities, as though it were the record holder of a number of shares of Common Stock equal to the total number of shares of Common Stock that: 

(1) are deliverable as part of the Daily Settlement Amount: 

(a) for a Trading Day in such Cash Settlement Averaging Period that occurs on or prior to such record date, effective date or
Offer Expiration Date; and 
 (b) is calculated based on a Conversion Rate that is not adjusted for such event; and 

(2) if not for this provision, would not entitle such Holder to participate in such event. 

  
 38 

 In addition, and notwithstanding anything to the contrary herein, with respect to any Securities
as to which Physical Settlement is applicable, if a Conversion Rate adjustment becomes effective on any Ex-Dividend Date as described above, and a Holder that has converted its Securities on or after such Ex-Dividend Date and on or prior to the
related Regular Record Date would be treated as the record holder of shares of Common Stock as of the related Conversion Date in accordance with the provisions of the last paragraph of Section 4.02(b) based on an adjusted Conversion Rate for
such Ex-Dividend Date, then, notwithstanding the foregoing Conversion Rate adjustment provisions, the Conversion Rate adjustment relating to such Ex-Dividend Date will not be made for such converting Holder. Instead, such Holder will be treated as
if such Holder were the record owners of the shares of Common Stock on an unadjusted basis and participate in the related dividend, distribution or other event giving rise to such adjustment. 

(g) Poison Pill. Whenever a Holder converts a Security, to the extent that the Company has a rights plan in effect, the Holder
converting such Security will receive, in addition to any shares of Common Stock otherwise received in connection with such conversion, the rights under the rights plan unless the rights have separated from the Common Stock, in which case, and only
in such case, the Conversion Rate will be adjusted at the time of separation as if the Company distributed to all holders of the Common Stock, shares of Capital Stock, evidences of indebtedness, assets, property, rights, options or warrants as
described in Section 4.04(c) hereof, subject to readjustment in the event of the expiration, termination or redemption of such rights. 

(h) Deferral of Adjustments. Notwithstanding anything to the contrary herein, except on and after the first Trading Day of any
Cash Settlement Averaging Period with respect to a Security and on or prior to the last Trading Day of such Cash Settlement Averaging Period, the Company will not be required to adjust the Conversion Rate unless such adjustment would require an
increase or decrease of at least one percent; provided, however, that any such minor adjustments that are not required to be made will be carried forward and taken into account in any subsequent adjustment, and provided,
further, that any such adjustment of less than one percent that has not been made shall be made upon the occurrence of (i) the Effective Date for any Make-Whole Fundamental Change, (ii) the first Trading Day of any Cash Settlement
Averaging Period and (iii) if the Company elects to satisfy its conversion obligation solely in shares of Common Stock, upon any conversion of Securities. In addition, the Company shall not account for such deferrals when determining whether
any of the conditions to conversion have been satisfied or what number of shares of Common Stock a Holder would have held on a given day had it converted its Securities. 

(i) Limitation on Adjustments. Except as stated in this Section 4.04, the Company will not adjust the Conversion Rate for
the issuance of shares of Common Stock or any securities convertible into or exchangeable for shares of Common Stock or the right to purchase shares of the Common Stock or such convertible or exchangeable securities. If, however, the application of
the formulas in Sections 4.04(a) through (e) hereof would result in a decrease in the Conversion Rate, then, except to the extent of any readjustment to the Conversion Rate, no adjustment to the Conversion Rate will be made (other than as a
result of a reverse share split, share combination or readjustment). 

  
 39 

 In addition, notwithstanding anything to the contrary herein, the Conversion Rate will not be
adjusted: 
 (1) on account of stock repurchases that are not tender offers referred to in Section 4.04(e) hereof, including structured
or derivative transactions, or transactions pursuant to a stock repurchase program approved by the Board of Directors or otherwise; 
 (2)
upon the issuance of any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of
Common Stock under any plan; 
 (3) upon the issuance of any shares of Common Stock or options or rights to purchase those shares pursuant
to any present or future employee, director or consultant benefit plan, program or agreement of or assumed by the Company or any of its Subsidiaries; 

(4) upon the issuance of any shares of Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or convertible
security not described in the preceding clause (3) and outstanding as of the date the Securities were first issued; 
 (5) for a change
in the par value of the Common Stock; 
 (6) for accrued and unpaid interest on the Securities, if any; or 

(7) for an event otherwise requiring an adjustment under this Indenture if such event is not consummated. 

(j) For purposes of this Section 4.04, the number of shares of Common Stock at any time outstanding shall not include shares held in the
treasury of the Company so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu of
fractions of shares of Common Stock. 
 Section 4.05 Discretionary and Voluntary Adjustments. 

(a) Discretionary Adjustments. Whenever any provision of this Indenture requires the Company to calculate the Last Reported Sale
Prices, the Daily VWAPs or any function thereof over a span of multiple days (including during a Cash Settlement Averaging Period), the Company will make appropriate adjustments to each to account for any adjustment to the Conversion Rate that
becomes effective, or any event requiring an adjustment to the Conversion Rate where the Effective Date, Ex-Dividend Date or Offer Expiration Date of the event occurs, at any time during the period when such Last Reported Sale Prices, the Daily
VWAPs or function thereof is to be calculated. 

  
 40 

 (b) Voluntary Adjustments. To the extent permitted by applicable law, the Company
is permitted to increase the Conversion Rate of the Securities by any amount for a period of at least 20 Business Days if the Board of Directors determines that such increase would be in the Company’s best interest. The Company may also (but is
not required to) increase the Conversion Rate to avoid or diminish income tax to holders of Common Stock or rights to purchase shares of Common Stock in connection with a dividend or distribution of shares (or rights to acquire shares) or similar
event. 
 Section 4.06 Adjustment to Conversion Rate Upon Conversion in Connection with a Make-Whole Fundamental Change.

 (a) Increase in the Conversion Rate. If a Make-Whole Fundamental Change occurs and a Holder elects to convert its
Securities in connection with such Make-Whole Fundamental Change, the Company shall, under certain circumstances, increase the Conversion Rate for the Securities so surrendered for conversion by a number of additional shares of Common Stock (the
“Additional Shares”), as described in this Section 4.06. A conversion of Securities shall be deemed for these purposes to be “in connection with” a Make-Whole Fundamental Change if the relevant
Conversion Notice is received by the Conversion Agent during the period from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and including, the Close of Business on the Business Day immediately prior to the related
Fundamental Change Purchase Date or, if such Make-Whole Fundamental Change is not a Fundamental Change, the 35th Business Day immediately following the Effective Date for such Make-Whole Fundamental Change. 

(b) Cash Mergers. Notwithstanding anything to the contrary herein, if the consideration paid to holders of the Common Stock in
any Make-Whole Fundamental Change described in clause (2) of the definition of Fundamental Change is comprised entirely of cash, then, for any conversion of Securities following the Effective Date of such Make-Whole Fundamental Change, the
payment and delivery obligations upon the conversion of a Security shall be calculated based solely on the Stock Price for such Make-Whole Fundamental Change and shall, for each $1,000 principal amount of Securities converted, be deemed to be an
amount of cash equal to the product of (i) the Conversion Rate in effect on the applicable Conversion Date (as increased by any number of Additional Shares required by this Section 4.06) multiplied by (ii) such Stock Price. In
such event, the Company will pay such amount of cash to a converting Holder on the third Business Day following the applicable Conversion Date. Otherwise, the Company will settle any conversion of the Securities following the Effective Date for a
Make-Whole Fundamental Change in accordance with Section 4.02 hereof (but subject to Section 4.07 hereof). 
 (c)
Determining the Number of Additional Shares. The number of Additional Shares, if any, by which the Conversion Rate will be increased for a Holder that converts its Securities in connection with a Make-Whole Fundamental Change shall be
determined by reference to the table attached as Schedule A hereto, based on the date on which the Make-Whole Fundamental Change occurs or becomes effective (the “Effective Date”) and the price (the
“Stock Price”) paid (or deemed paid) per share of the Common Stock in the Make-Whole Fundamental Change. If the holders of the Common Stock receive only cash in a Make-Whole Fundamental Change 

  
 41 

 
described in clause (2) of the definition of Fundamental Change, the Stock Price shall be the cash amount paid per share. Otherwise, the Stock Price shall be the average of the Last Reported
Sale Prices of the Common Stock over the ten consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Effective Date of the Make-Whole Fundamental Change. 

(d) Interpolation and Limits. The exact Stock Prices and Effective Dates may not be set forth in the table in Schedule A,
in which case: 
 (1) If the Stock Price is between two Stock Prices in the table or the Effective Date is between two Effective
Dates in the table, the number of Additional Shares shall be determined by a straight-line interpolation between the number of Additional Shares set forth for the higher and lower Stock Prices and the earlier and later Effective Dates, as
applicable, based on a 365-day year. 
 (2) If the Stock Price is greater than $130.00 per share (subject to adjustment in the same manner
as the Stock Prices set forth in the column headings of the table in Schedule A pursuant to Section 4.06(d)(4) hereof), the Conversion Rate shall not be increased. 

(3) If the Stock Price is less than $59.84 per share (subject to adjustments in the same manner as the Stock Prices set forth in the column
headings of the table in Schedule A pursuant to Section 4.06(d)(4) hereof), the Conversion Rate shall not be increased. 

Notwithstanding the foregoing, in no event will the Conversion Rate be increased on account of a Make-Whole Fundamental Change to exceed
16.7112 shares of Common Stock per $1,000 principal amount of Securities, subject to adjustments in the same manner as the Conversion Rate is required to be adjusted as set forth in Section 4.04 hereof. 

(4) The Stock Prices set forth in the column headings of the table in Schedule A hereto shall be adjusted as of any date on which the
Conversion Rate of the Securities is otherwise required to be adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion
Rate immediately prior to such adjustment giving rise to the Stock Price adjustment and the denominator of which is the Conversion Rate as so adjusted. The number of Additional Shares set forth in such table shall be adjusted in the same manner and
at the same time as the Conversion Rate is required to be adjusted as set forth in Section 4.04. 
 (e) Notices. The
Company shall notify the Holders of the Effective Date of any Make-Whole Fundamental Change and issue a press release announcing such Effective Date no later than five Business Days after such Effective Date. 

Section 4.07 Effect of Recapitalization, Reclassification, Consolidation, Merger or Sale. 

(a) Merger Events. In the case of: 

(1) any recapitalization, reclassification or change of the Common Stock (other than a change in par value, or from par value to no par value,
or from no par value to par value, or as a result of a split, subdivision or combination for which an adjustment was made pursuant to Section 4.04(a) hereof); 

  
 42 

 (2) any consolidation, merger or combination involving the Company; 

(3) any sale, lease or other transfer to a third party of the consolidated assets of the Company and its Subsidiaries substantially as an
entirety; or 
 (4) any statutory share exchange; 

and, in each case, as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets
(including cash or any combination thereof) (any such event, a “Merger Event,” any such stock, other securities, other property or assets, “Reference Property,” and the amount of kind of Reference Property that a
holder of one share of Common Stock (i) is entitled to receive in the applicable Merger Event or (ii) if as a result of the applicable Merger Event, each share of Common Stock is converted into the right to receive more than a single type
of consideration (determined based in part upon any form of stockholder election), the per-share of Common Stock weighted average of the types and amounts of Reference Property received by the holders of Common Stock that affirmatively make such an
election, a “Unit of Reference Property”) then, at the effective time of such Merger Event, the right to convert each $1,000 principal amount of Securities based on a number of shares of the Common Stock equal to the applicable
Conversion Rate will, without the consent of the Holders, be changed into a right to convert each $1,000 principal amount of Securities based on a number of Units of Reference Property equal to the applicable Conversion Rate and, prior to or at the
effective time of such Merger Event, the Company or the successor or purchasing person, as the case may be, shall execute with the Trustee a supplemental indenture (which shall comply with the Trust Indenture Act as in force at the date of execution
of such supplemental indenture) providing for such change in the right to convert each $1,000 principal amount of Securities; provided, however, that (i) any amount payable in cash upon conversion of
the Securities in accordance with Sections 4.03 and 4.06 hereof shall continue to be payable in cash, (ii) the number of shares of Common Stock that the Company would have been required to deliver upon conversion of the Securities in accordance
with Sections 4.03 and 4.06 hereof shall instead be deliverable in Units of Reference Property and (iii) the Daily VWAP and the Last Reported Sale Price will, to the extent reasonably possible, be calculated based on the value of a Unit of
Reference Property and the definitions of Trading Day and Market Disruption Event shall be determined by reference to the components of a Unit of Reference Property. 

If the Merger Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single type of
consideration (determined based in part upon any form of stockholder election) as contemplated by the preceding paragraph such that a Unit of Reference Property is comprised of the per-share of Common Stock weighted average of the types and amounts
of consideration received by the holders of the Common Stock in the Merger Event that affirmatively make such an election, the Company shall notify Holders of the weighted average as soon as practicable after such determination is made. 

  
 43 

 The Company shall not become a party to any Merger Event unless its terms are consistent with
this Section 4.07. Such supplemental indenture described in the second immediately preceding paragraph shall provide for adjustments which shall be as nearly equivalent to the adjustments provided for in this Article 4 in the judgment of the
Board of Directors or the board of directors of the successor person. If, in the case of any such Merger Event, the Reference Property receivable thereupon by a holder of Common Stock includes shares of stock, securities or other property or assets
(including cash or any combination thereof) of a person other than the successor or purchasing person, as the case may be, in such Merger Event, then such supplemental indenture shall also be executed by such other person. 

(b) Notice of Supplemental Indentures. The Company shall cause notice of the execution of such supplemental indenture to be
mailed to each Holder, at the address of such Holder as it appears on the register of the Securities maintained by the Security Registrar, within 20 days after execution thereof. Failure to deliver such notice shall not affect the legality or
validity of such supplemental indenture. The above provisions of this Section 4.07 shall similarly apply to successive Merger Events. 

Section 4.08 Stock Issued Upon Conversion. 

(a) Reservation of Shares. To the extent necessary to satisfy its obligations under this Indenture, prior to issuing any shares
of Common Stock, the Company will reserve out of its authorized but unissued shares of Common Stock a sufficient number of shares of Common Stock to permit the conversion of the Securities. 

(b) Certain other Covenants. The Company covenants that all shares of Common Stock that may be issued upon conversion of
Securities shall be newly issued shares or treasury shares, shall be duly authorized, validly issued, fully paid and non-assessable and shall be free from preemptive rights and free from any tax, lien or charge (other than those created by the
Holder or due to a change in registered owner). 
 The Company shall list or cause to have quoted any shares of Common Stock to be
issued upon conversion of Securities on each national securities exchange or over-the-counter or other domestic market on which the Common Stock is then listed or quoted. 

Section 4.09 Responsibility of Trustee. The Trustee and any Conversion Agent shall not at any time be under any duty or
responsibility to any Holder of Securities to determine or calculate the Conversion Rate, to determine whether any facts exist which may require any adjustment of the Conversion Rate, or to confirm the accuracy of any such adjustment when made or
the appropriateness of the method employed, or herein or in any supplemental indenture provided to be employed, in making the same. The Trustee and any other Conversion Agent shall not be accountable with respect to the validity or value (or the
kind or amount) of any shares of Common Stock or of any other securities or property that may at any time be issued or delivered upon the conversion of any Securities; and the Trustee and the Conversion Agent make no representations with respect
thereto. Neither the Trustee nor any Conversion Agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares of Common Stock or stock certificates or other securities or property or cash upon the surrender of
any 

  
 44 

 
Securities for the purpose of conversion or to comply with any of the duties, responsibilities or covenants of the Company contained in this Article 4. The rights, privileges, protections,
immunities and benefits given to the Trustee, including without limitation its right to be compensated, reimbursed, and indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, including its
capacity as Conversion Agent. 
 Section 4.10 Notice to Holders. 

(a) Notice to Holders Prior to Certain Actions. The Company shall deliver notices of the events specified below at the times
specified below and containing the information specified below unless, in each case, (i) pursuant to this Indenture, the Company is already required to deliver notice of such event containing at least the information specified below at an
earlier time or, (ii) the Company, at the time it is required to deliver a notice, does not have knowledge of all of the information required to be included in such notice, in which case, the Company shall (A) deliver notice at such time
containing only the information that it has knowledge of at such time (if it has knowledge of any such information at such time), and (B) promptly upon obtaining knowledge of any such information not already included in a notice delivered by
the Company, deliver notice to each Holder containing such information. In each case, the failure by the Company to give such notice, or any defect therein, shall not affect the legality or validity of such event. 

(1) Issuances, Distributions, and Dividends and Distributions. If the Company (A) announces any issuance of any rights,
options or warrants that would require an adjustment in the Conversion Rate pursuant to Section 4.04(b) hereof; (B) authorizes any distribution that would require an adjustment in the Conversion Rate pursuant to Section 4.04(c) hereof
(including any separation of rights from the Common Stock described in Section 4.04(g) hereof); or (C) announces any dividend or distribution that would require an adjustment in the Conversion Rate pursuant to Section 4.04(d) hereof,
then the Company shall deliver to the Holders, as promptly as possible, but in any event at least 15 calendar days prior to the applicable Ex-Dividend Date, notice describing such issuance, distribution, dividend or distribution, as the case may be,
and stating the expected Ex-Dividend Date and record date for such issuance, distribution, dividend or distribution, as the case may be. In addition, the Company shall deliver to the Holders notice if the consideration included in such issuance,
distribution, dividend or distribution, or the Ex-Dividend Date or record date of such issuance, distribution, dividend or distribution, as the case may be, changes. 

(2) Voluntary Increases. If the Company increases the Conversion Rate pursuant to Section 4.05(b), the Company shall
deliver notice to the Holders at least 15 calendar days prior to the date on which such increase will become effective, which notice shall state the date on which such increased will become effective and the amount by which the Conversion Rate will
be increased. 
 (3) Dissolutions, Liquidations and Winding-Ups. If there is a voluntary or involuntary dissolution,
liquidation or winding-up of the Company, the Company shall deliver notice to the Holders at promptly as possible, but in any event at least 15 calendar days prior to the earlier of (i) the date on which such dissolution, liquidation or
winding-up, as the case may 

  
 45 

 
be, is expected to become effective or occur, and (ii) the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their Common Stock for
securities or other property deliverable upon such dissolution, liquidation or winding-up, as the case may be, which notice shall state the expected effective date and record date for such event, as applicable, and the amount and kind of property
that a holder of one share of the Common Stock is expected to be entitled, or may elect, to receive in such event. The Company shall deliver an additional notice to holders, as promptly as practicable, whenever the expected effective date or record
date, as applicable, or the amount and kind of property that a holder of one share of the Common Stock is expect to be entitled to receive in such event, changes. 

(b) Notices After Certain Actions and Events. Whenever an adjustment to the Conversion Rate becomes effective pursuant to
Sections 4.04, 4.05 or 4.06 hereof, the Company will (i) file with the Trustee an Officers’ Certificate stating that such adjustment has become effective, the Conversion Rate, and the manner in which the adjustment was computed and
(ii) deliver notice to the Holder’s stating that such adjustment has become effective and the Conversion Rate or conversion privilege as adjusted. Failure to give any such notice, or any defect therein, shall not affect the validity of any
such adjustment. 
 ARTICLE 5 

PARTICULAR COVENANTS OF THE COMPANY 

Section 5.01 Inapplicable Covenants Made in the Base Indenture. The Holders will not have the benefit of the Covenants set forth
in Section 1008 of the Base Indenture. 
 Section 5.02 Payment of Principal, Interest and Fundamental Change Purchase
Price. This Section 5.02 shall replace Section 1001 of the Base Indenture in its entirety. 
 The Company covenants and agrees
that it will cause to be paid the principal of (including the Fundamental Change Purchase Price), and accrued and unpaid interest, if any, on each of the Securities at the places, at the respective times and in the manner provided herein and in the
Securities. 
 Section 5.03 Maintenance of Office or Agency. This Section 5.03 replaces Section 1002 of the Base
Indenture in its entirety and references in the Base Indenture to Section 1002 of the Base Indenture shall be deemed replaced with references to this Section 5.03. 

The Company will maintain in the Borough of Manhattan, The City of New York, an office of the Paying Agent, an office of the Security
Registrar and an office or agency where Securities may be surrendered for conversion (“Conversion Agent”) and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The
Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office or the office or agency of the Trustee in the Borough of Manhattan, The City of New York. 

  
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 The Company may also from time to time designate coregistrars one or more other offices or
agencies where the Securities may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided that no such designation or rescission shall in any manner relieve the Company of its
obligation to maintain an office or agency in the Borough of Manhattan, The City of New York, for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of
any such other office or agency. The terms “Paying Agent” and “Conversion Agent” include any such additional or other offices or agencies, as applicable. 

The Company hereby initially designates the Trustee as the Paying Agent, Security Registrar, Custodian, Conversion Agent and the Corporate
Trust Office, which shall be in the continental United States, shall be considered as one such office or agency of the Company for each of the aforesaid purposes. 

With respect to any Global Security, the Corporate Trust Office of the Trustee or any Paying Agent shall be the Place of Payment where
such Global Security may be presented or surrendered for payment or conversion or for registration of transfer or exchange, or where successor Securities may be delivered in exchange therefor; provided, however, that any such payment,
conversion, presentation, surrender or delivery effected pursuant to the Applicable Procedures of the Depository for such Global Security shall be deemed to have been effected at the Place of Payment for such Global Security in accordance with the
provisions of this Indenture. 
 Section 5.04 Appointments to Fill Vacancies in Trustee’s Office. The Company,
whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 608 of the Base Indenture, a Trustee, so that there shall at all times be a Trustee hereunder. 

Section 5.05 Provisions as to Paying Agent. This Section 5.05 shall replace Section 1003 of the Base Indenture in its
entirety and references in the Base Indenture to Section 1003 of the Base Indenture shall be deemed replace with references to this Section 5.05. 

(a) If the Company shall appoint a Paying Agent other than the Trustee, the Company will cause such Paying Agent to execute and deliver to the
Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section 5.05: 
 (1) that it
will hold all sums held by it as such agent for the payment of the principal of, accrued and unpaid interest, if any, on, and the Fundamental Change Purchase Price for, the Securities in trust for the benefit of the holders of the Securities; 

(2) that it will give the Trustee prompt notice of any failure by the Company to make any payment of the principal of, accrued and unpaid
interest, if any, on, or the Fundamental Change Purchase Price for, the Securities when the same shall be due and payable; and 
 (3) that
at any time during the continuance of an Event of Default, upon request of the Trustee, it will forthwith pay to the Trustee all sums so held in trust. 

  
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 The Company shall, one Business Day prior to each due date of the principal of, accrued and
unpaid interest, if any, on, and Fundamental Change Purchase Price for, the Securities, deposit with the Paying Agent a sum sufficient to pay such principal, accrued and unpaid interest, or Fundamental Change Purchase Price, as the case may be, and
(unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of any failure to take such action. 
 (b) If the
Company shall act as its own Paying Agent, it will, on or before each due date of the principal of, accrued and unpaid interest, if any, on, or Fundamental Change Purchase Price for, the Securities, set aside, segregate and hold in trust for the
benefit of the holders of the Securities a sum sufficient to pay such principal, accrued and unpaid interest, if any, on or Fundamental Change Purchase Price, as the case may be, so becoming due and will promptly notify the Trustee in writing of any
failure to take such action and of any failure by the Company to make any payment of the principal of, accrued and unpaid interest on, or Fundamental Change Purchase Price for, the Securities when the same shall become due and payable. 

(c) Anything in this Section 5.05 to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining a
satisfaction and discharge of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by the Company or any Paying Agent hereunder as required by this Section 5.05, such sums to be held by the
Trustee upon the trusts herein contained and upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent shall be released from all further liability with respect to such sums. 

Section 5.06 Reports. This Section 5.06 will replace Section 703 of the Base Indenture in its entirety. 

The Company will file with the Trustee, within 15 days after it is required to file the same with the SEC, copies of the quarterly and annual
reports and of the information, documents and other reports, if any, that it is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act, and to otherwise comply with Section 314(a) of the Trust Indenture Act. Any
such report, information or document that the Company files with the SEC through the EDGAR system (or any successor thereto) will be deemed to be delivered to the Trustee for the purposes of this Section 5.06 at the time of such filing through
the EDGAR system (or such successor thereto). 
 Delivery of any such reports, information and documents to the Trustee shall be for
informational purposes only, and the Trustee’s receipt of such reports, information and documents shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 

  
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 Section 5.07 Statements as to Defaults. The Company shall deliver to the Trustee, as
soon as possible, and in any event within thirty days after the Company becomes aware of the occurrence of any Default or Event of Default, an Officers’ Certificate setting forth the details of such Default or Event of Default, its status and
the action that the Company proposes to take with respect thereto. Such Officers’ Certificate shall also comply with any additional requirements set forth in Section 102 of the Base Indenture. 

Section 5.08 Supplementary Interest Notice. If Supplementary Interest is payable by the Company pursuant to Section 6.04
hereof, the Company shall deliver to the Trustee an Officers’ Certificate to that effect stating (a) the amount of such Supplementary Interest that is payable and (b) the date on which such interest is payable. Unless and until a
Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Supplementary Interest is payable. If the Company has paid Supplementary Interest directly to the
Persons entitled to them, the Company shall deliver to the Trustee an Officers’ Certificate setting forth the particulars of such payment. 

Section 5.09 Covenant to Take Certain Actions. Before taking any action which would cause an adjustment to the Conversion Rate
such that the Conversion Price per share of Common Stock issuable upon conversion of the Securities would be less than the par value of the Common Stock, the Company shall take all corporate actions that may, in the opinion of its counsel, be
necessary so it may validly and legally issue shares of Common Stock at such adjusted Conversion Rate. 
 ARTICLE 6 

REMEDIES 

Section 6.01 Amendments to the Base Indenture. 

(a) The Holders shall not have the benefit of Article 5 of the Base Indenture and, with respect to the Securities, this Article 6 supersedes
Article 5 of the Base Indenture in its entirety. 
 (b) The reference to Section 501(4) in the proviso to the first sentence of
Section 601 of the Base Indenture is, with respect to the Securities, hereby deemed replaced by a reference to Section 6.02(f). 

(c) The reference to Section 501(6) in Section 606 of the Base Indenture is, with respect to the Securities, hereby deemed replaced
by a reference to Section 6.02(h) hereof insofar as Section 6.02(h) shall relate to the Company. 
 (d) The reference to
Section 501(7) in Section 606 of the Base Indenture is, with respect to the Securities, hereby deemed replaced by a reference to Section 6.02(i) hereof insofar as Section 6.02(i) shall relate to the Company. 

  
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 (e) Each reference in the Base Indenture to Section 502 is, with respect to the Securities,
hereby deemed replaced by a reference to Section 6.03 hereof. 
 (f) Section 602 of the Base Indenture is amended with respect to
the Securities to add the following sentence immediately following the last sentence of Section 602: “In the event an Event of Default has occurred and is continuing, the Trustee shall be required in the exercise of its powers under the
Indenture to use the degree of care that a prudent person would use in the conduct of its own affairs.” 
 Section 6.02 Events
of Default. Each of the following events (and only the following events) shall be an “Event of Default” wherever used with respect to the Securities: 

(a) default in any payment of interest on any Security when due and payable, and the default continues for a period of thirty days; 

(b) default in the payment of the principal of any Security (including the Fundamental Change Purchase Price) when due and payable on the
Maturity Date, upon required repurchase, upon declaration of acceleration or otherwise; 
 (c) failure by the Company to comply with its
obligations under Article 4 hereof to convert the Securities into the amount of cash or the combination of cash and shares of Common Stock, if any, determined in accordance with Article 4 hereof upon exercise of a Holder’s conversion right and
that failure continues for five (5) Business Days; 
 (d) failure by the Company to comply with its obligations under Article 9 hereof;

 (e) failure by the Company to issue a notice in accordance with the provisions of Section 4.01(b)(3) hereof or Section 3.02(b)
hereof when due; 
 (f) failure by the Company for 60 days after written notice from the Trustee or the Holders of at least 25% in principal
amount of the Securities then Outstanding (a copy of which notice, if given by Holders, must also be given to the Trustee) has been received by the Company to comply with any of its other agreements contained in the Securities or this Indenture
(other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section 6.02 specifically provided for or that is not applicable to the Securities), which notice shall state that it is a “Notice of
Default” hereunder; 
 (g) failure by the Company to pay beyond any applicable grace period, or the acceleration of, indebtedness
of the Company or any of the Company’s Subsidiaries in an aggregate amount greater than $10,000,000 (or its foreign currency equivalent at the time); 

(h) the Company or any Significant Subsidiary of the Company shall commence a voluntary case or other proceeding seeking the liquidation,
reorganization or other relief with respect to the Company or such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator,
custodian or other similar official of the Company or such Significant 

  
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Subsidiary of the Company or any substantial part of the Company’s or such Significant Subsidiary of the Company’s property, or shall consent to any such relief or to the appointment of
or taking possession by any such official in an involuntary case or other proceeding commenced against it, or shall make a general assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due; or 

(i) an involuntary case or other proceeding shall be commenced against the Company or any Significant Subsidiary of the Company seeking
liquidation, reorganization or other relief with respect to the Company or such Significant Subsidiary of the Company or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a
trustee, receiver, liquidator, custodian or other similar official of the Company or such Significant Subsidiary of the Company or any substantial part of its property, and such involuntary case or other proceeding shall remain undismissed and
unstayed for a period of thirty consecutive days. 
 Section 6.03 Acceleration; Rescission and Annulment. If one or more Events
of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any
order, rule or regulation of any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.02(h) or Section 6.02(i) with respect to the Company (and not solely with
respect to a Significant Subsidiary of the Company)), unless the principal of all of the Securities shall have already become due and payable, either the Trustee or the holders of at least 25% in aggregate principal amount of the Securities then
Outstanding, by notice in writing to the Company (and to the Trustee if given by the Holders), may declare 100% of the principal of, and accrued and unpaid interest, if any, on all the Securities to be due and payable immediately. If an Event of
Default specified in Section 6.02(h) or Section 6.02(i) with respect to the Company (and not solely with respect to a Significant Subsidiary of the Company) occurs and is continuing, the principal of, and accrued and unpaid interest, if
any, on all Securities shall be immediately due and payable. 
 Section 6.04 Supplementary Interest. 

(a) Notwithstanding any provisions of the Indenture to the contrary, if the Company so elects, the sole remedy for an Event of Default
relating to (i) the Company’s failure to file with the Trustee pursuant to Section 314(a)(1) of the Trust Indenture Act any documents or reports that it is required to file with the Commission pursuant to Section 13 or 15(d) of
the Exchange Act, or (ii) the Company’s failure to comply with Section 5.06 hereof (a “Reporting Event of Default”), will consist exclusively of the right to receive additional interest on the Securities (the
“Supplementary Interest”) at a rate per year equal to (i) 0.25% per annum of the Outstanding principal amount of the Securities for the first 90 days of the 180-day period on which such Event of Default is continuing
beginning on, and including, the date on which such an Event of Default first occurs and (ii) 0.50% per annum of the Outstanding principal amount of the Securities for the last 90 days of such 180-day period as long as such Event of
Default is continuing. If the Company so elects, such Supplemental Interest will be payable in the same manner and on the same dates as the stated interest payable on the Securities. On the 181st day

  
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after such Event of Default (if the Reporting Event of Default is not cured or waived prior to such 181st day), the Securities will be subject to acceleration pursuant to Section 6.03. The
provisions of this Section 6.04 will not affect the rights of Holders of Securities in the event of the occurrence of any Event of Default that is not a Reporting Event of Default. In the event the Company does not elect to pay the Supplemental
Interest following an Event of Default in accordance with this Section 6.04 or the Company elected to make such payment but do not pay the Supplemental Interest when due, the Securities will be immediately subject to acceleration as provided in
Section 6.03. 
 (b) In order to elect to pay the Supplemental Interest as the sole remedy during the first 180 days after the
occurrence of an Reporting Event of Default, the Company must notify all Holders of Securities, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the Company’s failure to timely give such
notice, the Securities will be immediately subject to acceleration as provided in Section 6.03. 
 Section 6.05 Waiver of Past
Defaults. The Holders of a majority in aggregate principal amount of the Securities then Outstanding, by written notice to the Company and to the Trustee, may waive (including by way of consents obtained in connection with a repurchase of, or
tender or exchange offer for, the Securities) all past Defaults or Events of Default with respect to the Securities (other than a Default or an Event of Default resulting from nonpayment of principal or interest, a failure to deliver consideration
due upon conversion or any other provisions that requires the consent of each affected Holder to amend) and rescind any such acceleration with respect to the Securities and its consequences if (i) rescission would not conflict with any judgment
or decree of a court of competent jurisdiction and (ii) all existing Events of Default, other than the nonpayment of the principal of, and interest on, the Securities that have become due solely by such declaration of acceleration have been
cured or waived. 
 Section 6.06 Control by Majority. At any time, the Holders of a majority of the aggregate principal amount
of the then Outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or for exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow
any direction that conflicts with law or this Indenture or, subject to the Trustee’s duties under Article 6 of the Base Indenture and the Trust Indenture Act, that the Trustee determines to be unduly prejudicial to the rights of a Holder
or to the Trustee, or that would potentially involve the Trustee in personal liability unless the Trustee is offered indemnity or security reasonably satisfactory to it against any loss, liability or expense to the Trustee that may result from the
Trustee’s instituting such proceeding as the Trustee. Prior to taking any action hereunder, the Trustee will be entitled to indemnification reasonably satisfactory to it against all losses and expenses caused by taking or not taking such
action. 
 Section 6.07 Limitation on Suits. Subject to Section 6.08 hereof, no Holder may pursue a remedy with respect to
this Indenture or the Securities unless: 
 (a) such Holder has previously delivered to the Trustee written notice that an Event of Default
has occurred and is continuing; 

  
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 (b) the Holders of at least 25% of the aggregate principal amount of the then Outstanding
Securities deliver to the Trustee a written request that the Trustee pursue a remedy with respect to such Event of Default; 
 (c) such
Holder or Holders have offered and, if requested, provided to the Trustee indemnity reasonably satisfactory to the Trustee against any loss, liability or other expense of compliance with such written request; 

(d) the Trustee has not complied with such written request within 60 days after receipt of such written request and offer of indemnity; and

 (e) during such 60-day period, the Holders of a majority of the aggregate principal amount of the then Outstanding Securities did not
deliver to the Trustee a direction inconsistent with such written request. 
 A Holder may not use this Indenture to prejudice the rights of
any other Holder or to obtain a preference or priority over any other Holder, it being understood that the Trustee does not have any affirmative duty to ascertain whether any usage of this Indenture by a Holder is unduly prejudicial to such other
Holders. 
 Section 6.08 Rights of Holders to Receive Payment and to Convert. Notwithstanding anything to the contrary elsewhere
in this Indenture, the right of any Holder to receive payment of the principal of, interest on, Fundamental Change Purchase Price for, its Securities, on or after the respective due date, and to convert its Securities and receive payment or delivery
of the consideration due with respect to such Securities in accordance with Article 4 hereof, or to bring suit for the enforcement of any such payment or conversion rights, will not be impaired or affected without the consent of such Holder and will
not be subject to the requirements of Section 6.07 hereof. 
 Section 6.09 Collection of Indebtedness; Suit for Enforcement by
Trustee. If an Event of Default specified in Section 6.02(a), 6.02(b) or 6.02(c) hereof occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the
whole amount of principal of, interest on, Fundamental Change Purchase Price for, and the amount of cash or the combination of cash and shares of Common Stock, if any, as the case may be, due upon the conversion of, the Securities, as the case may
be, and such further amount as is sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, as well as any other amounts that may be
due under Section 606 of the Base Indenture. 
 Section 6.10 Trustee May Enforce Claims Without Possession of Securities.
All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such
proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel, be for the ratable benefit of the Holders in respect of which such judgment has been recovered. 

  
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 Section 6.11 Trustee May File Proofs of Claim. The Trustee is authorized to file such
proofs of claim and other papers or documents as may be necessary or advisable to have the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Company, its creditors or its property and, unless prohibited by law
or applicable regulations, will be entitled to collect, receive and distribute any money or other property payable or deliverable on any such claims, and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such
payments to the Trustee, and, in the event that the Trustee consents to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel, and any other amounts due the Trustee under Section 606 of the Base Indenture. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and any other amounts due the Trustee under Section 606 of the Base Indenture out of the estate in any such proceeding, will be denied for any reason, payment of the same will be secured by a lien on, and is paid out of, any and all
distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding, whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained will be
deemed to authorize the Trustee to authorize or consent to, or to accept or to adopt on behalf of any Holder, any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder, or to authorize
the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 Section 6.12 Restoration of Rights and
Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to
such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and
remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 
 Section 6.13 Rights and
Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 306 of the Base Indenture, no right or remedy herein conferred upon or reserved to
the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or
hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

Section 6.14 Delay or Omission Not a Waiver. No delay or omission of the Trustee or of any Holder to exercise any right or remedy
accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence 

  
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therein. Every right and remedy given by this Article 6 or by law to the Trustee or to the Holders may be exercised from time to time and as often as may be deemed expedient by the Trustee
(subject to the limitations contained in this Indenture) or by the Holders, as the case may be. 
 Section 6.15 Priorities. If
the Trustee collects any money pursuant to this Article 6, it will pay out the money in the following order: 
 FIRST: to the Trustee, its
agents and attorneys for amounts due under Section 606 of the Base Indenture, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

SECOND: to the Holders, for any amounts due and unpaid on the principal of, accrued and unpaid interest on, Fundamental Change Purchase Price
for, and any cash due upon conversion of, any Security, without preference or priority of any kind, according to such amounts due and payable on all of the Securities; and 

THIRD: the balance, if any, to the Company or to such other party as a court of competent jurisdiction directs. 

The Trustee may fix a record date and payment date for any payment to the Holders pursuant to this Section 6.15. If the Trustee so fixes
a record date and a payment date, at least 15 days prior to such record date, the Company will deliver to each Holder and the Trustee a written notice, which notice will state such record date, such payment date and the amount of such payment. 

Section 6.16 Undertaking for Costs. All parties to this Indenture agree, and each Holder, by such Holder’s acceptance of a
Security, shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee,
the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit,
having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided, however, that the provisions of this Section 6.16 shall not apply to any suit instituted by the Trustee, to any suit
instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in aggregate principal amount of the Securities then Outstanding, or to any suit instituted by any Holder for the enforcement of the payment of the principal of,
accrued and unpaid interest, if any, on, or Fundamental Change Purchase Price for, any Security on or after the due date expressed or provided for in this Indenture or to any suit for the enforcement of the right to convert any Security in
accordance with the provisions of Article 4 hereof. 
 Section 6.17 Waiver of Stay, Extension and Usury Laws. The Company
covenants that, to the extent that it may lawfully do so, it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time
hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company, to the extent that it may lawfully do so, hereby 

  
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expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the
Trustee, but will instead suffer and permit the execution of every such power as though no such law has been enacted. 
 Section 6.18
Notices from the Trustee. Notwithstanding anything to the contrary in the Base Indenture, including Section 601 of the Base Indenture, and subject to Section 602(10) of the Base Indenture, whenever a Default or an Event of Default
occurs and is continuing and is known to the Trustee, the Trustee must deliver notice of such Default or Event of Default to the Holders within 90 days after the date on which such Default or Event of Default first occurred. Except in the case of a
Default in the payment of the principal of, interest on, or Fundamental Change Purchase Price for, any Security or of a Default in the payment or delivery, as the case may be, of the consideration due upon conversion of a Security, the Trustee shall
be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in
the interests of the Holders. 
 ARTICLE 7 

SATISFACTION AND DISCHARGE 

Section 7.01 Inapplicability of Provisions of Base Indenture; Satisfaction and Discharge of the Indenture. Article 14 of the Base
Indenture shall not apply with respect to the Securities. The provisions set forth in this Article 7 shall, with respect to the Securities, supersede in their entirety Article 4 of the Base Indenture. 

When (a) the Company shall deliver to the Security Registrar for cancellation all Securities theretofore authenticated (other than any
Securities that have been destroyed, lost or stolen and in lieu of or in substitution for which other Securities shall have been authenticated and delivered) and not theretofore canceled, or (b) all the Securities not theretofore canceled or
delivered to the Trustee for cancellation shall have become due and payable (whether on the Maturity Date, on any Fundamental Change Purchase Date, upon conversion or otherwise) and the Company shall deposit with the Trustee, in trust, or deliver to
the Holders, as applicable, an amount of cash or the combination of cash and shares of Common Stock, if any, as the case may be (solely to settle amounts due with respect to outstanding conversions), sufficient to pay all amounts due on all of such
Securities (other than any Securities that shall have been mutilated, destroyed, lost or stolen and in lieu of or in substitution for which other Securities shall have been authenticated and delivered) not theretofore canceled or delivered to the
Trustee for cancellation, including principal and interest due, accompanied, except in the event the Securities are due and payable solely in cash at the Maturity Date or upon an earlier Fundamental Change Purchase Date, by a verification report as
to the sufficiency of the deposited amount from an independent certified accountant or other financial professional reasonably satisfactory to the Trustee, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the
Company, then this Indenture shall cease to be of further effect (except as to (i) rights hereunder of Holders to receive all amounts owing upon the Securities and the other rights, duties and obligations of Holders, as beneficiaries hereof
with respect to the amounts, if any, so 

  
 56 

 
deposited with the Trustee and (ii) the rights, obligations and immunities of the Trustee hereunder), and the Trustee, on written demand of the Company accompanied by an Officers’
Certificate and an Opinion of Counsel and at the cost and expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture; the Company, however, hereby agrees to reimburse the Trustee for any costs
or expenses thereafter reasonably and properly incurred by the Trustee, including the fees and expenses of its counsel, and to compensate the Trustee for any services thereafter reasonably and properly rendered by the Trustee in connection with this
Indenture or the Securities. 
 Section 7.02 Deposited Monies to Be Held in Trust by Trustee. Subject to Section 7.04
hereof, all monies and shares of Common Stock, if any, deposited with the Trustee pursuant to Section 7.01 hereof shall be held in trust for the sole benefit of the Holders of the Securities, and such monies and shares of Common Stock shall be
applied by the Trustee to the payment, either directly or through any Paying Agent (including the Company if acting as its own Paying Agent), to the Holders of the particular Securities for the payment or settlement of which such monies or shares of
Common Stock have been deposited with the Trustee, of all sums or amounts due and to become due thereon for principal and interest, if any. 

Section 7.03 Paying Agent to Repay Monies Held. Upon the satisfaction and discharge of this Indenture, all monies and shares of
Common Stock, if any, then held by any Paying Agent (if other than the Trustee) shall, upon written request of the Company, be repaid to it or paid to the Trustee, and thereupon such Paying Agent shall be released from all further liability with
respect to such monies and shares of Common Stock. 
 Section 7.04 Return of Unclaimed Monies. Subject to the requirements of
applicable law, any monies and shares of Common Stock deposited with or paid to the Trustee for payment of the principal of or interest, if any, on the Securities and not applied but remaining unclaimed by the Holders of the Securities for two years
after the date upon which the principal of or interest, if any, on such Securities, as the case may be, shall have become due and payable, shall be repaid to the Company by the Trustee on demand, and all liability of the Trustee shall thereupon
cease with respect to such monies and shares of Common Stock; and the Holder shall thereafter look only to the Company for any payment or delivery that such Holder may be entitled to collect unless an applicable abandoned property law designates
another person. 
 Section 7.05 Reinstatement. If the Trustee or the Paying Agent is unable to apply any money or shares of
Common Stock in accordance with Section 7.02 by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under the Indenture and the
Securities shall be revived and reinstated as though no deposit had occurred pursuant to Section 7.01 until such time as the Trustee or the Paying Agent is permitted to apply all such money and shares of Common Stock in accordance with
Section 7.02; provided, however, that if the Company makes any payment of interest on, principal of or payment or delivery in respect of any Security following the reinstatement of its obligations, the Company shall be subrogated
to the rights of the Holders of such Securities to receive such payment from the money or shares of Common Stock, if any, held by the Trustee or Paying Agent. 

  
 57 

 ARTICLE 8 

SUPPLEMENTAL INDENTURES 

Section 8.01 Supplemental Indentures Without Consent of Holders. Section 901 of the Base Indenture shall not apply with
respect to the Securities, and this Section 8.01 shall replace Section 901 of the Base Indenture in its entirety. 
 Without the
consent of any Holder, the Company (when authorized by a Board Resolution) and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following
purposes: 
 (a) to conform the terms of this Indenture or the Securities to the description thereof in the Preliminary Prospectus
Supplement, as supplemented by the issuer free writing prospectus related to the offering of the Securities filed by the Company with the Commission pursuant to Rule 433 under the Securities Act of 1933 on March 20, 2014; 

(b) to evidence the succession by a Successor Company and to provide for the assumption by a Successor Company of the Company’s
obligations under the Indenture; 
 (c) to add guarantees with respect to the Securities; 

(d) to secure the Securities; 

(e) to add to the Company’s covenants such further covenants, restrictions or conditions for the benefit of the Holders (or any other
holders) or surrender any right or power conferred upon the Company by the Indenture; 
 (f) to cure any ambiguity, omission, defect or
inconsistency in this Indenture or the Securities, including to eliminate any conflict with the Trust Indenture Act, or to make any other change that does not adversely affect the rights of any Holder in any material respect; 

(g) to provide for a successor Trustee; 

(h) to comply with the Applicable Procedures of the Depository; or 

(i) to comply with any requirement of the Commission in connection with the qualification of the Indenture under the Trust Indenture Act. 

Section 8.02 Supplemental Indentures With Consent of Holders. Section 902 of the Base Indenture shall not apply with respect
to the Securities, and this Section 8.02 shall replace Section 902 of the Base Indenture in its entirety. 
 With the consent of
the Holders of not less than a majority in principal amount of the Outstanding Securities affected by such supplemental indenture, including without limitation, consents obtained in connection with a purchase of, or tender or exchange offer for,
Securities 

  
 58 

 
and by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental
hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders under this Indenture; provided, however, that
no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby: 
 (a) reduce the
percentage in aggregate principal amount of Securities Outstanding necessary to waive any past Default or Event of Default; 
 (b) reduce
the rate of interest on any Security or change the time for payment of interest on any Security; 
 (c) reduce the principal of any Security
or change the Maturity Date; 
 (d) change the place or currency of payment on any Security; 

(e) make any change that impairs or adversely affects the conversion rights of any Securities; 

(f) reduce the Fundamental Change Purchase Price of any Security or amend or modify in any manner adverse to the rights of the Holders of the
Securities the Company’s obligation to pay the Fundamental Change Purchase Price, whether through an amendment or waiver of provisions in the covenants, definitions related thereto or otherwise; 

(g) impair the right of any Holder of Securities to receive payment of principal of, and interest, if any, on, its Securities, or the right to
receive payment of the amount of cash or the combination of cash and shares of Common Stock, if any, as the case may be, due upon conversion of its Securities on or after the due dates therefore or to institute suit for the enforcement of any such
payment or delivery, as the case may be, with respect to such Holder’s Securities; 
 (h) modify the ranking provisions of this
Indenture in a manner that is adverse to the rights of the Holders of the Securities; or 
 (i) make any change to the provisions of this
Article 8 that requires each Holder’s consent or in the waiver provisions in Section 6.05 of this Supplemental Indenture if such change is adverse to the rights of Holders of the Securities. 

It shall not be necessary for any Act or consent of Holders under this Section 8.02 to approve the particular form of any proposed
supplemental indenture, but it shall be sufficient if such Act or consent shall approve the substance thereof. The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Persons entitled to consent to any
indenture supplemental hereto. If a record date is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to consent to such supplemental indenture, whether or not such Holders remain
Holders after such record date; 

  
 59 

 
provided that, unless such consent shall have become effective by virtue of the requisite percentage having been obtained prior to the date which is 90 days after such record date, any
such consent previously given shall automatically and without further action by any Holder be cancelled and of no further effect. 

Section 8.03 Notice of Amendment or Supplement. After an amendment or supplement under this Article 8 becomes effective, the
Company shall mail to the Holders a notice briefly describing such amendment or supplement. However, the failure to give such notice to all the Holders, or any defect in the notice, shall not impair or affect the validity of the amendment or
supplement. 
 ARTICLE 9 

SUCCESSOR COMPANY 

Section 9.01 Consolidation, Merger and Sale of Assets. 

(a) The provisions in Articles 8 of the Base Indenture shall not apply with respect to the Securities, and this Article 9 supersedes the
entirety thereof. 
 (b) In addition, the reference to “Article Eight” in Section 1004 of the Base Indenture is, with respect
to the Securities, deemed replaced with a reference to this Article 9. 
 Section 9.02 Company May Consolidate, Etc. on Certain
Terms. Subject to the provisions of Section 9.04, the Company shall not amalgamate or consolidate with, merge with or into or convey, transfer or lease its properties and assets substantially as an entirety to another Person, unless: 

(a) the Company shall be the surviving Person or the resulting, surviving or transferee Person (the “Successor Company”), if
not the Company, shall be a corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia, and the Successor Company (if not the Company) shall expressly assume, by supplemental
indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee, all of the obligations of the Company under the Securities and this Indenture as applicable to the Securities; and 

(b) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing under this
Indenture. 
 Section 9.03 Successor Corporation to Be Substituted. In case of any such amalgamation, consolidation, merger,
conveyance, transfer or lease and upon the assumption by the Successor Company, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of (including
any Fundamental Change Purchase Price), accrued and unpaid interest and accrued and unpaid Supplementary Interest, if any, on all of the Securities, the due and punctual delivery or payment, as the case may be, of any consideration due upon
conversion of the Securities and the due and 

  
 60 

 
punctual performance of all of the covenants and conditions of this Indenture to be performed by the Company under this Indenture, such Successor Company shall succeed to and be substituted for,
and may exercise every right and power of, the Company under this Indenture, with the same effect as if it had been named herein as the party of the first part. Such Successor Company thereupon may cause to be signed, and may issue either in its own
name or in the name of the Company any or all of the Securities issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such Successor Company instead of the Company and
subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver, or cause to be authenticated and delivered, any Securities that previously shall have been signed and delivered by
the officers of the Company to the Trustee for authentication, and any Securities that such Successor Company thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Securities so issued shall in all respects have
the same legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Securities had been issued at the date of the execution hereof. In the event
of any such amalgamation, consolidation, merger, conveyance or transfer (but not in the case of a lease), the Person named as the “Company” in the first paragraph of this Indenture or any successor that shall thereafter have become such in
the manner prescribed in this Article 9 may be dissolved, wound up and liquidated at any time thereafter and, except in the case of a lease, such Person shall be released from its liabilities as obligor and maker of the Securities and from its
obligations under this Indenture. 
 In case of any such amalgamation, consolidation, merger, conveyance, transfer or lease, such changes in
phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 

Section 9.04 Opinion of Counsel to Be Given to Trustee. In the case of an such amalgamation, merger, consolidation, conveyance,
transfer or lease the Trustee shall receive an Officers’ Certificate and an Opinion of Counsel stating that any such amalgamation, consolidation, merger, conveyance, transfer or lease and any such assumption and, if a supplemental indenture is
required in connection with such transaction, such supplemental indenture, complies with the provisions of this Article 9. 
 ARTICLE 10

 MISCELLANEOUS 

Section 10.01 Effect on Successors and Assigns. Notwithstanding Section 110 of the Base Indenture, all agreements of the
Company, the Trustee, the Security Registrar, the Paying Agent and the Conversion Agent in this Indenture and the Securities will bind their respective successors. 

Section 10.02 Governing Law. THIS INDENTURE AND THE SECURITIES, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO
THE INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF (EXCEPT FOR SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL
OBLIGATIONS LAW). 

  
 61 

 Section 10.03 No Security Interest Created. Nothing in this Indenture or in the
Securities, expressed or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction. 

Section 10.04 Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture
Act that is required under such Act to be a part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded,
the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 
 Section 10.05
Benefits of Supplemental Indenture. Notwithstanding anything to the contrary in Section 110 of the Base Indenture, nothing in this Supplemental Indenture or in the Securities, expressed or implied, will give to any Person, other than the
parties hereto, any Paying Agent, any Conversion Agent, any Authenticating Agent, any Security Registrar or their successors hereunder or the Holders of the Securities, any benefit or any legal or equitable right, remedy or claim under this
Supplemental Indenture. 
 Section 10.06 Calculations. The Company shall be responsible for making all calculations called for
under the Securities. These calculations include, but are not limited to, determinations of the Last Reported Sale Prices of the Common Stock, accrued interest payable on the Securities and the Conversion Rate. The Company shall make all these
calculations in good faith and, absent manifest error, the Company’s calculations shall be final and binding on Holders of Securities. The Company shall provide a schedule of its calculations to each of the Trustee and the Conversion Agent, and
each of the Trustee and Conversion Agent is entitled to rely conclusively upon the accuracy of the Company’s calculations without independent verification. The Trustee will forward the Company’s calculations to any Holder upon the request
of that Holder at the sole cost and expense of the Company. 
 Whenever the Company is required to calculate the Conversion Rate, the
Company will do so to the nearest 1/10,000th of a share of Common Stock. 
 Section 10.07 Execution in Counterparts. This
Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. 

Section 10.08 Notices. The Company or the Trustee, by notice given to the other in the manner provided in Section 105 of the
Base Indenture, may designate additional or different addresses for subsequent notices or communications. 
 Notwithstanding anything to the
contrary in Sections 105 and 106 of the Base Indenture, whenever the Company is required to deliver notice to the Holders, the Company will, by the 

  
 62 

 
date it is required to deliver such notice to the Holders, deliver a copy of such notice to the Trustee, the Paying Agent, the Security Registrar and the Conversion Agent. Each notice to the
Trustee, the Paying Agent, the Security Registrar and the Conversion Agent shall be sufficiently given if in writing and mailed, first-class postage prepaid to the address most recently sent by the Trustee, the Paying Agent, the Security Registrar
or the Conversion Agent, as the case may be, to the Company. 
 Section 10.09 Ratification of Base Indenture. The Base
Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Base Indenture in the manner and to the extent herein provided. For the avoidance of
doubt, each of the Company and each Holder of Securities, by its acceptance of such Securities, acknowledges and agrees that all of the rights, privileges, protections, immunities and benefits afforded to the Trustee under the Base Indenture are
deemed to be incorporated herein, and shall be enforceable by the Trustee hereunder, in each of its capacities hereunder as if set forth herein in full. 

Section 10.10 The Trustee. The recitals in this Supplemental Indenture are made by the Company only and not by the Trustee, and
all of the provisions contained in the Base Indenture in respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect of the Securities and of this Supplemental Indenture as fully and with like
effect as if set forth in full herein. 
 Section 10.11 No Recourse Against Others. No director, officer, employee, incorporator
or stockholder of the Company shall have any liability for any obligations of the Company under the Securities, the Indenture or any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder, by accepting a
Security, waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. 

[Remainder of the page intentionally left blank] 

  
 63 

 IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly
executed as of the day and year first above written. 
  

					
	NATIONAL HEALTH INVESTORS, INC.
		
	By:	 	 /s/ Justin Hutchens

		 	Name:	 	Justin Hutchens
		 	Title:	 	CEO & President
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, as Trustee
		
	By:	 	 /s/ Michael Countryman

		 	Name:	 	Michael Countryman
		 	Title:	 	Vice President

  
 64 

 SCHEDULE A 

The following table sets forth the number of Additional Shares by which the Conversion Rate shall be increased pursuant to Section 4.06
based on the Stock Price and Effective Date set forth below. 
  

																																									
	 	  	Stock Price	 
	 Effective Date
	  	$59.84	 	  	$65.00	 	  	$71.81	 	  	$75.00	 	  	$80.00	 	  	$90.00	 	  	$100.00	 	  	$110.00	 	  	$120.00	 	  	$130.00	 
	 March 19, 2014
	  	 	2.7852	  	  	 	2.0575	  	  	 	1.3803	  	  	 	1.1447	  	  	 	0.8526	  	  	 	0.4687	  	  	 	0.2508	  	  	 	0.1267	  	  	 	0.0554	  	  	 	0.0161	  
	 April 1, 2015
	  	 	2.7852	  	  	 	2.0575	  	  	 	1.3803	  	  	 	1.1447	  	  	 	0.8526	  	  	 	0.4687	  	  	 	0.2508	  	  	 	0.1250	  	  	 	0.0509	  	  	 	0.0118	  
	 April 1, 2016
	  	 	2.7852	  	  	 	2.0575	  	  	 	1.3803	  	  	 	1.1447	  	  	 	0.8526	  	  	 	0.4687	  	  	 	0.2508	  	  	 	0.1149	  	  	 	0.0407	  	  	 	0.0060	  
	 April 1, 2017
	  	 	2.7852	  	  	 	2.0575	  	  	 	1.3803	  	  	 	1.1447	  	  	 	0.8526	  	  	 	0.4687	  	  	 	0.2262	  	  	 	0.0916	  	  	 	0.0234	  	  	 	0.0010	  
	 April 1, 2018
	  	 	2.7852	  	  	 	2.0575	  	  	 	1.3803	  	  	 	1.1447	  	  	 	0.8526	  	  	 	0.4151	  	  	 	0.1714	  	  	 	0.0519	  	  	 	0.0041	  	  	 	0.0000	  
	 April 1, 2019
	  	 	2.7852	  	  	 	2.0575	  	  	 	1.3803	  	  	 	1.1130	  	  	 	0.7337	  	  	 	0.2866	  	  	 	0.0836	  	  	 	0.0063	  	  	 	0.0000	  	  	 	0.0000	  
	 April 1, 2020
	  	 	2.7852	  	  	 	2.0431	  	  	 	1.0801	  	  	 	0.7729	  	  	 	0.4317	  	  	 	0.0906	  	  	 	0.0014	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  
	 April 1, 2021
	  	 	2.7852	  	  	 	1.4586	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  

 EXHIBIT A 

[FORM OF FACE OF SECURITY] 
 [For
Global Securities, include the following legend: 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO
AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON
OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
  

			
	No.:	  	[            ]
	CUSIP:	  	63633D AE4
	ISIN:	  	US63633DAE40

 Principal Amount $[            ] 

[as revised by the Schedule of Increases 

and Decreases in the Global Security attached hereto]1 

National Health Investors, Inc. 

3.25% Convertible Senior Notes due 2021 

National Health Investors, Inc., a Maryland corporation, promises to pay to
[            ] [include “Cede & Co.” for Global Security] or registered assigns, the principal amount of
$[            ] on April 1, 2021 (the “Maturity Date”). 

Interest Payment Dates: April 1 and October 1, beginning on October 1, 2014. 

Regular Record Dates: March 15 and September 15. 

Additional provisions of this Security are set forth on the other side of this Security. 

 

	1 	Include for Global Securities only. 

  
 A-1 

 IN WITNESS WHEREOF, NATIONAL HEALTH INVESTORS, INC. has caused this instrument to be duly signed.

  

			
	NATIONAL HEALTH INVESTORS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Attest:	 	  

		 	Name:
		 	Title:
		
	Dated:	 	  

  
 A-2 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

The Bank of New York Mellon Trust Company, as Trustee, certifies that this is one of the Securities referred to in the within-mentioned Indenture. 

 

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, as Trustee
		
	By:	 	  

		 	 Authorized Signatory

		
	Dated:	 	  

  
 A-3 

 [FORM OF REVERSE OF NOTE] 

NATIONAL HEALTH INVESTORS, INC. 

3.25% Convertible Senior Notes due 2021 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued under a
Senior Debt Indenture dated as of March 25, 2014 (herein called the “Base Indenture”), as further supplemented by the First Supplemental Indenture, dated as of March 25, 2014 (herein called the “Supplemental
Indenture” and the Base Indenture, as supplemented by the Supplemental Indenture, the “Indenture”) by and between the Company and The Bank of New York Mellon Trust Company, herein called the “Trustee”, and
reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is not subject to redemption at the option of the Company prior to the Maturity Date and does not benefit from a sinking fund. 

As provided in and subject to the provisions of the Indenture, upon the occurrence of a Fundamental Change, the Holder of this Security will
have the right, at such Holder’s option, to require the Company to purchase this Security, or any portion of this Security such that the principal amount of this Security that is not purchased equals $1,000 or an integral multiple of $1,000 in
excess thereof, on the Fundamental Change Purchase Date at a price equal to the Fundamental Change Purchase Price for such Fundamental Change Purchase Date. 

As provided in and subject to the provisions of the Indenture, the Holder hereof has the right, at its option (i) during certain periods
and upon the occurrence of certain conditions specified in the Indenture, prior to the Close of Business on the Business Day immediately preceding October 1, 2020, and (ii) on or after October 1, 2020, at any time prior to the Close
of Business on the second Scheduled Trading Day immediately preceding the Stated Maturity, to convert this Security or a portion of this Security such that the principal amount of this Security that is not converted equals $1,000 or an integral
multiple of $1,000 in excess thereof, into an amount of cash, shares of Common Stock or a combination of cash and shares of Common Stock, as the case may be, determined in accordance with Article 4 of the Supplemental Indenture. 

As provided in and subject to the provisions of the Indenture, the Company will make all payments in respect of the Fundamental Change
Purchase Price for, and the principal amount of, this Security to the Holder that surrenders this Security to the Paying Agent to collect such payments in respect of this Security. The Company will pay cash amounts in money of the United States that
at the time of payment is legal tender for payment of public and private debts. 
 The Indenture permits, with certain exceptions as therein
provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities to be effected under the Indenture at any time by the Company and the Trustee with the consent of the
Holders of a majority in principal amount of the Securities at the time Outstanding. The Indenture also contains provisions permitting the Holders of specified 

  
 A-4 

 
percentages in principal amount of the Securities at the time Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company with certain provisions of the Indenture
and certain past Defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued
upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any
proceeding with respect to the Indenture, or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to
the Security, the Holders of not less than 25% in principal amount of the Securities at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the
Trustee indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding,
for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or interest hereon or amounts due
upon conversion on or after the respective due dates expressed herein. 
 No reference herein to the Indenture and no provision of this
Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay or deliver, as the case may be, the principal of (including the Fundamental Change Purchase Price), interest on and the
amount of cash, shares of Common Stock or combination of cash and shares of Common Stock, as the case may be, due upon conversion of, this Security at the time, place and rate, and in the coin and currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the
Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or its attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Securities are
issuable only in registered form without coupons in denominations of $1,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Securities are exchangeable for a
like aggregate principal amount of Securities and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or Trustee may
treat the Person in whose name the Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

  
 A-5 

 No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 All
defined terms used in this Security that are defined in the Indenture shall have the meanings assigned to them in the Indenture. If any provision of this Security limits, qualifies or conflicts with a provision of the Indenture, such provision of
the Indenture shall control. 

  
 A-6 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription of the face of this Security, shall be construed as though they were written out in
full 
  

							
	TEN COM - as tenants in common	 	 UNIF GIFT MIN ACT
	 	Custodian	 	
		 	(Cust)	 		 	
				
	TEN ENT -as tenants by the entireties	 	  
	 		 	
		 	(Minor)	 		 	
				
	JT TEN - as joint tenants with right of Survivorship and not as tenants in common	 	Uniform Gifts to Minors Act	 	  
	 	(State)

 Additional abbreviations may also be used though not in the above list. 

  
 A-7 

 ANNEX A 

[Include for Global Security] 

SCHEDULE OF INCREASES AND DECREASES OF GLOBAL SECURITY 

Initial principal amount of Global Security: 
  

									
	 Date
	  	Amount of
Increase in
principal
amount of
Global Security	  	Amount of
Decrease in
principal
amount of
Global Security	  	principal
amount of
Global Security
after Increase
or Decrease	  	Notation by
Security
Registrar or
Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A-8 

 ATTACHMENT 1 

[FORM OF NOTICE OF CONVERSION] 
  

	To:	National Health Investors, Inc. 

 The undersigned Holder of this Security hereby irrevocably exercises the
option to convert this Security, or a portion hereof (which is such that the principal amount of the portion of this Security that will not be converted equals $1,000 or an integral multiple of $1,000 in excess thereof) below designated, into an
amount of cash, shares of Common Stock or combination of cash and shares of Common Stock, as the case may be, in accordance with the terms of the Indenture referred to in this Security, and directs that any cash payable and any shares of Common
Stock issuable and deliverable upon conversion, together with any Securities representing any unconverted principal amount hereof, be paid and/or issued and/or delivered, as the case may be, to the registered Holder hereof unless a different name is
indicated below. 
 Subject to certain exceptions set forth in the Indenture, if this notice is being delivered on a date after the Close of Business on a
Regular Record Date and prior to the Open of Business on the Interest Payment Date corresponding to such Regular Record Date, this notice must be accompanied by payment of an amount equal to the interest payable on such Interest Payment Date on the
principal amount of this Security to be converted. If any shares of Common Stock are to be issued in the name of a Person other than the undersigned, the undersigned will pay all transfer taxes payable with respect to such issuance and transfer as
set forth in the Indenture. 
 Principal amount to be converted (in an integral multiple of $1,000, if less than all): 

 

	
	  

	  

	Signature(s)
	
	Signature(s) must be guaranteed by an institution which is a member of one of the following recognized signature Guarantee Programs:
	
	(i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) another guarantee program acceptable
to the Trustee.
	
	  

	  

	Signature Guarantee

  
 A-9 

 Fill in for registration of any shares of Common Stock and Securities if to be issued otherwise than to the
registered Holder. 
  

	
	  

	(Name)
	
	  

	(Address)
	
	 Please print Name and Address
 (including zip
code number)
 Social Security or other Taxpayer

  

			
	Identifying Number	 	  

  
 A-10 

 ATTACHMENT 2 

[FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE] 
  

	To:	National Health Investors, Inc. 

 The undersigned registered owner of this Security hereby acknowledges
receipt of a notice from National Health Investors, Inc. (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company and specifying the Fundamental Change Purchase Date and requests and instructs the
Company to pay to the registered holder hereof in accordance with the applicable provisions of the Indenture referred to in this Security (i) the entire principal amount of this Security, or the portion thereof (that is such that the portion
not to be purchased has a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof) below designated, and (ii) if such Fundamental Change Purchase Date does not occur during the period after a Regular Record Date and
on or prior to the Interest Payment Date corresponding to such Regular Record Date, accrued and unpaid interest, if any, thereon to, but excluding, such Fundamental Change Purchase Date. 

In the case of certificated Securities, the certificate numbers of the Securities to be purchased are as set forth below: 

 

			
	Dated:	 	  

  

	
	Signature(s)
	
	  

	 Social Security or Other Taxpayer Identification Number
  

principal amount to be repaid (if less than all):

	
	$            ,000
	
	NOTICE: The signature on the Fundamental Change Purchase Notice must correspond with the name as written upon the face of the Security in every particular without alteration or enlargement or any change whatever.

  
 A-11 

 ATTACHMENT 3 

[FORM OF ASSIGNMENT AND TRANSFER] 

For value received              hereby sell(s), assign(s) and transfer(s) unto
             (Please insert social security or Taxpayer Identification Number of assignee) the within Security, and hereby irrevocably constitutes and appoints
             to              transfer the said Security on the books of the Company, with full power of substitution in the
premises. 
  

	
	  

	  

	Signature(s)
	
	Signature(s) must be guaranteed by an institution which is a member of one of the following recognized signature Guarantee Programs:
	
	(i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) another guarantee program

  
 A-12EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

Published CUSIP Number: 63633KAE8 

Revolving Credit CUSIP Number: 63633KAF5 

Term A-1 Loan CUSIP Number: 63633KAG3 

Term A-2 Loan CUSIP Number: 63633KAH1 

Term A-4 Loan CUSIP Number: [            ] 

THIRD AMENDED AND RESTATED CREDIT AGREEMENT 

dated as of March 27, 2014 

by and among 
 NATIONAL HEALTH
INVESTORS, INC., 
 as Borrower, 

THE LENDERS FROM TIME TO TIME PARTY HERETO, 

as Lenders, 
 and 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Administrative Agent, 

Swing Line Lender and Issuing Bank under the Facilities 

JPMORGAN CHASE BANK, N.A., 

and 
 BANK OF AMERICA, N.A.

 each as a Co-Syndication Agent under the Revolving Credit Facility, 

KEY BANK, NATIONAL ASSOCIATION 

and 
 CAPITAL ONE, NATIONAL
ASSOCIATION, 
 each as a Co-Syndication Agent under the Term A-4 Facility, 

BANK OF MONTREAL (acting under its trade name BMO CAPITAL MARKETS), 

CAPITAL ONE, NATIONAL ASSOCIATION, 

KEY BANK, NATIONAL ASSOCIATION, 

and 
 REGIONS BANK, 

each as a Co-Documentation Agent under the Revolving Credit Facility 

WELLS FARGO SECURITIES, LLC, 

BANK OF MONTREAL (acting under its trade name BMO CAPITAL MARKETS), 

and 
 KEY BANK, NATIONAL
ASSOCIATION, 
 each as a Joint Lead Arranger and Joint Bookrunner under the Facilities 

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 

and 
 J.P. MORGAN SECURITIES, LLC

 each as a Joint Lead Arranger and Joint Bookrunner under the Revolving Credit Facility 

CAPITAL ONE, NATIONAL ASSOCIATION 

as Joint Lead Arranger and Joint Bookrunner under the Term A-4 Facility 

											
			
	ARTICLE I	 	DEFINITIONS AND TERMS	  	 	1	  
					
		 	SECTION 1.1	 		 	DEFINITIONS	  	 	1	  
					
		 	SECTION 1.2	 		 	RULES OF INTERPRETATION	  	 	29	  
					
		 	SECTION 1.3	 		 	CLASSIFICATION OF LOANS AND BORROWINGS	  	 	30	  
					
		 	SECTION 1.4	 		 	ACCOUNTING FOR DERIVATIVES	  	 	30	  
			
	ARTICLE II	 	CREDIT TERMS	  	 	31	  
					
		 	SECTION 2.1	 		 	COMMITMENTS	  	 	31	  
					
		 	SECTION 2.2	 		 	LOANS AND BORROWINGS	  	 	31	  
					
		 	SECTION 2.3	 		 	REQUESTS FOR BORROWINGS	  	 	32	  
					
		 	SECTION 2.4	 		 	SWING LINE LOANS	  	 	32	  
					
		 	SECTION 2.5	 		 	LETTERS OF CREDIT	  	 	33	  
					
		 	SECTION 2.6	 		 	FUNDING OF BORROWINGS	  	 	37	  
					
		 	SECTION 2.7	 		 	INTEREST ELECTIONS	  	 	37	  
					
		 	SECTION 2.8	 		 	TERMINATION AND REDUCTION OF REVOLVING CREDIT COMMITMENTS	  	 	38	  
					
		 	SECTION 2.9	 		 	REPAYMENT OF LOANS; EVIDENCE OF DEBT	  	 	38	  
					
		 	SECTION 2.10	 		 	PREPAYMENT OF LOANS	  	 	39	  
					
		 	SECTION 2.11	 		 	FEES	  	 	40	  
					
		 	SECTION 2.12	 		 	INTEREST	  	 	41	  
					
		 	SECTION 2.13	 		 	ALTERNATE RATE OF INTEREST	  	 	42	  
					
		 	SECTION 2.14	 		 	GUARANTIES	  	 	42	  
					
		 	SECTION 2.15	 		 	PAYMENTS GENERALLY; ADMINISTRATIVE AGENT’S CLAWBACK	  	 	43	  
					
		 	SECTION 2.16	 		 	SHARING OF PAYMENT BY LENDERS	  	 	44	  
					
		 	SECTION 2.17	 		 	INCREASE IN COMMITMENTS	  	 	45	  
					
		 	SECTION 2.18	 		 	EXTENSION OF THE REVOLVING CREDIT MATURITY DATE	  	 	47	  
					
		 	SECTION 2.19	 		 	CASH COLLATERAL	  	 	48	  
					
		 	SECTION 2.20	 		 	DEFAULTING LENDERS	  	 	49	  
			
	ARTICLE III	 	YIELD PROTECTION	  	 	51	  
					
		 	SECTION 3.1	 		 	INCREASED COSTS	  	 	51	  
					
		 	SECTION 3.2	 		 	TAXES	  	 	52	  
					
		 	SECTION 3.3	 		 	BREAK FUNDING PAYMENTS	  	 	54	  
					
		 	SECTION 3.4	 		 	SURVIVAL	  	 	54	  
			
	ARTICLE IV	 	REPRESENTATIONS AND WARRANTIES	  	 	54	  
					
		 	SECTION 4.1	 		 	EXISTENCE, QUALIFICATION AND POWER	  	 	54	  

  
 i 

											
					
		 	SECTION 4.2	 		 	AUTHORIZATION; NO CONTRAVENTION	  	 	55	  
					
		 	SECTION 4.3	 		 	GOVERNMENTAL AUTHORIZATION; CONSENTS	  	 	55	  
					
		 	SECTION 4.4	 		 	BINDING EFFECT	  	 	55	  
					
		 	SECTION 4.5	 		 	FINANCIAL STATEMENTS; NO MATERIAL ADVERSE EFFECT	  	 	55	  
					
		 	SECTION 4.6	 		 	LITIGATION	  	 	55	  
					
		 	SECTION 4.7	 		 	NO DEFAULT	  	 	55	  
					
		 	SECTION 4.8	 		 	OWNERSHIP OF PROPERTY; LIENS	  	 	55	  
					
		 	SECTION 4.9	 		 	ENVIRONMENTAL COMPLIANCE	  	 	56	  
					
		 	SECTION 4.10	 		 	INSURANCE	  	 	56	  
					
		 	SECTION 4.11	 		 	TAXES	  	 	56	  
					
		 	SECTION 4.12	 		 	ERISA COMPLIANCE	  	 	56	  
					
		 	SECTION 4.13	 		 	SUBSIDIARIES	  	 	57	  
					
		 	SECTION 4.14	 		 	DISCLOSURE	  	 	57	  
					
		 	SECTION 4.15	 		 	COMPLIANCE WITH LAWS	  	 	57	  
					
		 	SECTION 4.16	 		 	MARGIN REGULATIONS; INVESTMENT COMPANY ACT; ETC.	  	 	57	  
					
		 	SECTION 4.17	 		 	SOLVENCY	  	 	58	  
					
		 	SECTION 4.18	 		 	PERMITS, FRANCHISES	  	 	58	  
					
		 	SECTION 4.19	 		 	MATERIAL AGREEMENTS	  	 	58	  
					
		 	SECTION 4.20	 		 	REIT STATUS	  	 	58	  
					
		 	SECTION 4.21	 		 	LEASE PROPERTY	  	 	58	  
					
		 	SECTION 4.22	 		 	OFAC	  	 	58	  
					
		 	SECTION 4.23	 		 	INTELLECTUAL PROPERTY MATTERS	  	 	58	  
					
		 	SECTION 4.24	 		 	EMPLOYEE RELATIONS	  	 	59	  
					
		 	SECTION 4.25	 		 	BURDENSOME PROVISIONS	  	 	59	  
					
		 	SECTION 4.26	 		 	ANTI-CORRUPTION LAWS AND SANCTIONS	  	 	59	  
			
	ARTICLE V	 	CONDITIONS	  	 	59	  
					
		 	SECTION 5.1	 		 	CONDITIONS TO CLOSING AND INITIAL EXTENSIONS OF CREDIT	  	 	59	  
					
		 	SECTION 5.2	 		 	CONDITIONS OF EACH LOAN OR LETTER OF CREDIT	  	 	62	  
			
	ARTICLE VI	 	AFFIRMATIVE COVENANTS	  	 	62	  
					
		 	SECTION 6.1	 		 	FINANCIAL STATEMENTS; BUDGET	  	 	62	  
					
		 	SECTION 6.2	 		 	CERTIFICATES; OTHER INFORMATION	  	 	63	  
					
		 	SECTION 6.3	 		 	NOTICES	  	 	64	  
					
		 	SECTION 6.4	 		 	PAYMENT OF OBLIGATIONS	  	 	64	  

  
 ii 

											
					
		 	SECTION 6.5	 		 	PRESERVATION OF EXISTENCE, ETC.	  	 	64	  
					
		 	SECTION 6.6	 		 	MAINTENANCE OF PROPERTIES	  	 	64	  
					
		 	SECTION 6.7	 		 	MAINTENANCE OF INSURANCE	  	 	65	  
					
		 	SECTION 6.8	 		 	COMPLIANCE WITH LAW	  	 	65	  
					
		 	SECTION 6.9	 		 	BOOKS AND RECORDS	  	 	65	  
					
		 	SECTION 6.10	 		 	INSPECTION RIGHTS	  	 	65	  
					
		 	SECTION 6.11	 		 	USE OF PROCEEDS	  	 	65	  
					
		 	SECTION 6.12	 		 	FINANCIAL COVENANTS	  	 	66	  
					
		 	SECTION 6.13	 		 	NEW SUBSIDIARIES	  	 	66	  
					
		 	SECTION 6.14	 		 	COMPLIANCE WITH AGREEMENTS	  	 	66	  
					
		 	SECTION 6.15	 		 	FURTHER ASSURANCES	  	 	66	  
					
		 	SECTION 6.16	 		 	STATUS	  	 	67	  
			
	ARTICLE VII	 	NEGATIVE COVENANTS	  	 	67	  
					
		 	SECTION 7.1	 		 	LIENS	  	 	67	  
					
		 	SECTION 7.2	 		 	INVESTMENTS	  	 	68	  
					
		 	SECTION 7.3	 		 	INDEBTEDNESS	  	 	69	  
					
		 	SECTION 7.4	 		 	FUNDAMENTAL CHANGES	  	 	71	  
					
		 	SECTION 7.5	 		 	DISPOSITIONS	  	 	71	  
					
		 	SECTION 7.6	 		 	CHANGE IN NATURE OF BUSINESS	  	 	72	  
					
		 	SECTION 7.7	 		 	TRANSACTIONS WITH AFFILIATES	  	 	72	  
					
		 	SECTION 7.8	 		 	USE OF PROCEEDS; MARGIN REGULATIONS	  	 	72	  
					
		 	SECTION 7.9	 		 	BURDENSOME AGREEMENTS	  	 	72	  
					
		 	SECTION 7.10	 		 	DISSOLUTION, ETC.	  	 	73	  
					
		 	SECTION 7.11	 		 	SALE AND LEASEBACK TRANSACTIONS (AS LESSEE)	  	 	73	  
					
		 	SECTION 7.12	 		 	AMENDMENT OF CERTAIN AGREEMENTS	  	 	73	  
					
		 	SECTION 7.13	 		 	RESTRICTED PAYMENTS	  	 	73	  
					
		 	SECTION 7.14	 		 	ACCOUNTING CHANGES	  	 	73	  
			
	ARTICLE VIII	 	EVENTS OF DEFAULT, ETC.	  	 	73	  
					
		 	SECTION 8.1	 		 	EVENTS OF DEFAULT	  	 	73	  
					
		 	SECTION 8.2	 		 	REMEDIES	  	 	75	  
					
		 	SECTION 8.3	 		 	APPLICATION OF FUNDS	  	 	76	  
			
	ARTICLE IX	 	ADMINISTRATIVE AGENT	  	 	77	  
					
		 	SECTION 9.1	 		 	APPOINTMENT AND AUTHORITY	  	 	77	  
					
		 	SECTION 9.2	 		 	RIGHTS AS A LENDER	  	 	77	  
					
		 	SECTION 9.3	 		 	EXCULPATORY PROVISIONS	  	 	77	  

  
 iii 

											
					
		 	SECTION 9.4	 		 	RELIANCE BY ADMINISTRATIVE AGENT	  	 	78	  
					
		 	SECTION 9.5	 		 	DELEGATION OF DUTIES	  	 	78	  
					
		 	SECTION 9.6	 		 	RESIGNATION OF ADMINISTRATIVE AGENT	  	 	79	  
					
		 	SECTION 9.7	 		 	NON-RELIANCE ON ADMINISTRATIVE AGENT AND OTHER LENDERS	  	 	79	  
					
		 	SECTION 9.8	 		 	NO OTHER DUTIES, ETC	  	 	80	  
					
		 	SECTION 9.9	 		 	GUARANTY MATTERS	  	 	80	  
					
		 	SECTION 9.10	 		 	RELATED CREDIT ARRANGEMENTS	  	 	80	  
			
	ARTICLE X	 	MISCELLANEOUS	  	 	80	  
					
		 	SECTION 10.1	 		 	AMENDMENTS, ETC	  	 	80	  
					
		 	SECTION 10.2	 		 	NO WAIVER; CUMULATIVE REMEDIES	  	 	82	  
					
		 	SECTION 10.3	 		 	NOTICES GENERALLY	  	 	83	  
					
		 	SECTION 10.4	 		 	EXPENSES, INDEMNITY; DAMAGE WAIVER	  	 	84	  
					
		 	SECTION 10.5	 		 	SUCCESSORS, ASSIGNMENT	  	 	86	  
					
		 	SECTION 10.6	 		 	TREATMENT OF CERTAIN INFORMATION; CONFIDENTIALITY	  	 	89	  
					
		 	SECTION 10.7	 		 	NO THIRD PARTY BENEFICIARIES	  	 	90	  
					
		 	SECTION 10.8	 		 	TIME	  	 	90	  
					
		 	SECTION 10.9	 		 	SEVERABILITY OF PROVISIONS	  	 	90	  
					
		 	SECTION 10.10	 		 	COUNTERPARTS; INTEGRATION; EFFECTIVENESS; ELECTRONIC EXECUTION	  	 	90	  
					
		 	SECTION 10.11	 		 	GOVERNING LAW; JURISDICTION; ETC	  	 	91	  
					
		 	SECTION 10.12	 		 	WAIVER OF JURY TRIAL	  	 	91	  
					
		 	SECTION 10.13	 		 	RIGHT OF SET OFF	  	 	91	  
					
		 	SECTION 10.14	 		 	PERFORMANCE OF DUTIES	  	 	92	  
					
		 	SECTION 10.15	 		 	ALL POWERS COUPLED WITH AN INTEREST	  	 	92	  
					
		 	SECTION 10.16	 		 	TITLES AND CAPTIONS	  	 	92	  
					
		 	SECTION 10.17	 		 	SURVIVAL	  	 	92	  
					
		 	SECTION 10.18	 		 	USURY	  	 	92	  
					
		 	SECTION 10.19	 		 	USA PATRIOT ACT NOTICE	  	 	93	  
					
		 	SECTION 10.20	 		 	REPLACEMENT OF LENDERS	  	 	93	  
					
		 	SECTION 10.21	 		 	INDEPENDENT EFFECT OF COVENANTS	  	 	94	  
					
		 	SECTION 10.22	 		 	REVERSAL OF PAYMENTS	  	 	94	  
					
		 	SECTION 10.23	 		 	INCONSISTENCIES WITH OTHER DOCUMENTS	  	 	94	  
					
		 	SECTION 10.24	 		 	AMENDMENT AND RESTATEMENT; NO NOVATION	  	 	94	  

  
 iv 

 Exhibits 
  

					
	A	 	-	  	Form of Assignment and Assumption
	B	 	-	  	Form of Compliance Certificate
	C	 	-	  	Form of Borrowing Request
	D	 	-	  	Form of Interest Rate Election Notice
	E	 	-	  	Form of Prepayment Notice

 Schedules 
  

					
	1.1(a)	 	-	  	Limited Guarantors
	1.1(b)	 	-	  	Subsidiary Guarantors
	2.1	 	-	  	Commitments
	4.12(d)	 	-	  	Pension Plans
	4.13	 	-	  	Subsidiaries
	 4.21(a)
	 	-	  	Lease Properties
	 4.21(b)
	 	-	  	Unencumbered Lease Properties
	 7.1
	 	-	  	Existing Liens
	 7.3
	 	-	  	Existing Debt

  
 v 

 THIRD AMENDED AND RESTATED CREDIT AGREEMENT 

THIS THIRD AMENDED AND RESTATED CREDIT AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this
“Agreement”) is entered into as of March 27, 2014, by and among NATIONAL HEALTH INVESTORS, INC., a Maryland corporation (the “Borrower”), EACH LENDER FROM TIME TO TIME PARTY HERETO (collectively,
the “Lenders” and each, individually, a “Lender”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as Administrative Agent, the Swing Line Lender and the Issuing Bank. 

The parties hereto agree as follows: 

ARTICLE I 

DEFINITIONS AND TERMS 

SECTION 1.1 DEFINITIONS. For the purposes of this Agreement, the following terms have the meanings set forth below: 

“Acquisition” any acquisition (whether in a single transaction or series of related transactions) of (a) all or
substantially all of the assets of any Person, or any material assets or material line of business (including any real property and related assets) (with “materiality” being determined by having a fair market value in excess of
$10,000,000), whether through purchase, merger or otherwise; or (b) Equity Interests or Voting Power of a non-Subsidiary if, as a result of such transaction or transactions, such non-Subsidiary becomes a Subsidiary. 

“Administrative Agent” means Wells Fargo in its capacity as administrative agent under the Loan Documents, and any successor
administrative agent. 
 “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the
Administrative Agent. 
 “Affected Lender” has the meaning set forth in Section 10.20(a)(iii). 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls, or is Controlled by, or under common Control with, such Person (and a Person shall be deemed to have Control if such Person, directly or indirectly, has rights to exercise Voting Power to elect a majority of the members of
the Governing Body of an applicable Person). 
 “Aggregate Revolving Credit Commitments” means the Revolving Credit
Commitments of all the Revolving Credit Lenders. The initial amount of the Aggregate Revolving Credit Commitments is $450,000,000. 

“Aggregate Total Fixed Asset Value” means, as of any date of determination for the Borrower and its Subsidiaries calculated
on a consolidated basis, without duplication, (a) the aggregate Total Lease Property Net Operating Income for all Lease Property owned by the Borrower and its Subsidiaries (but excluding all amounts properly attributable to Minority Interests)
for the Four-Quarter Period ending on or immediately prior to such date of determination divided by (b) the applicable Capitalization Rate for such Lease Property. 

 “Aggregate Unencumbered Fixed Asset Value” means, as of any date of
determination, without duplication, the sum of (a) the aggregate Unencumbered Fixed Asset Values of all Unencumbered Lease Properties owned by any Loan Party (other than a Limited Guarantor) as of such date of determination plus
(b) the aggregate Joint Venture Unencumbered Fixed Asset Values of all Unencumbered Lease Properties owned by any Loan Party that is a non-Wholly Owned Subsidiary of the Borrower as of such date of determination. 

“Anti-Corruption Laws” means the Foreign Corrupt Practices Acts of 1977 (15 U.S.C. §§ 78dd-1, et seq.) and all
rules and regulations promulgated therewith. 
 “Applicable Law” means, collectively, all applicable international,
foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority
charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case
whether or not having the force of law. 
 “Applicable Percentage” means, with respect to any Lender at any time, such
Lender’s Revolving Credit Applicable Percentage or Term Loan Applicable Percentage, as applicable, at such time. 
 “Applicable
Rate” means, 
 (a) with respect to Revolving Loans, the applicable percentage per annum set forth below determined by reference to
the Consolidated Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.2(a): 
  

															
	 Tier
	  	 Consolidated

Total Leverage Ratio
	  	Applicable Rate
for
Eurodollar Rate
Loans and
Letter of Credit
Fees	 	 	Applicable Rate
for
Base Rate
Loans	 	 	Applicable Rate
for
Commitment
Fees	 
	 I
	  	< 0.35 to 1.00	  	 	1.25	% 	 	 	0.25	% 	 	 	0.35	% 
	 II
	  	30.35 to 1.00 but < 0.45 to 1.00	  	 	1.50	% 	 	 	0.50	% 	 	 	0.40	% 
	 III
	  	30.45 to 1.00	  	 	1.75	% 	 	 	0.75	% 	 	 	0.45	% 

 (b) with respect to the Term Loan Facilities, the applicable percentage per annum set forth below determined
by reference to the Consolidated Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.2(a): 

 

											
	 Tier
	  	 Consolidated
Total Leverage Ratio
	  	Applicable Rate
for
Eurodollar Rate
Loans	 	 	Applicable Rate
for
Base Rate
Loans	 
	 I
	  	< 0.35 to 1.00	  	 	1.50	% 	 	 	0.50	% 
	 II
	  	30.35 to 1.00 but < 0.45 to 1.00	  	 	1.75	% 	 	 	0.75	% 
	 III
	  	30.45 to 1.00	  	 	2.00	% 	 	 	1.00	% 

  
 2 

 Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Total Leverage Ratio
shall become effective as of the first Business Day following the date a Compliance Certificate is delivered pursuant to Section 6.2(a); provided that (i) if a Compliance Certificate is not delivered when due in accordance
with such Section, then Tier III shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered until the first Business Day following the date such Compliance Certificate is
delivered, and (ii) if the Borrower does not appropriately complete the schedules attached to the Compliance Certificate (including, without limitation, indicating the appropriate Tier upon which the Applicable Rate shall be determined)
indicating that the Borrower is entitled to the benefit of a lower pricing Tier, then the Administrative Agent shall not be required to institute any decrease in the Applicable Rate until the first Business Day after the date on which the
Administrative Agent receives notice from the Borrower indicating such lower pricing Tier should apply, together with any appropriate supporting information required by the Administrative Agent. With respect to each Facility, the Applicable Rate in
effect from the Closing Date until the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.2(a) for the fiscal quarter ending June 30, 2014,shall be determined based upon
Tier II. 
 Notwithstanding the foregoing, the determination of the Applicable Rate for any period shall be subject to the provisions of
Section 2.12(f). 
 “Appropriate Lender” means, at any time, (a) with respect to any Facility, a Lender
that has a Commitment with respect to such Facility or holds a Loan under such Facility at such time and (b) with respect to Swing Line Loans, the Swing Line Lender. 

“Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or
(c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 “Assignment and Assumption” means
an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 10.5), and accepted by the Administrative Agent, in substantially the form of Exhibit
A or any other form approved by the Administrative Agent. 
 “Audited Financial Statements” means the audited
consolidated balance sheet of the Borrower and its Subsidiaries for the fiscal year ended December 31, 2013, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the
Borrower and its Subsidiaries, including the notes thereto. 
 “Availability Period” means the period from the Closing Date
to the Revolving Credit Maturity Date. 
 “Base Rate” means, at any time, the highest of (a) the Prime Rate,
(b) the Federal Funds Rate plus 0.50% and (c) except during any period of time during which a notice delivered to the Borrower under Section 2.13 shall remain in effect, the Eurodollar Rate for an Interest Period of one
month plus 1%; each change in the Base Rate shall take effect simultaneously with the corresponding change or changes in the Prime Rate, the Federal Funds Rate or the Eurodollar Rate. 

“Base Rate Borrowing” or “Base Rate Loan” means a Borrowing or Loan, as applicable, that bears interest at a
rate based on the Base Rate. 
 “Bickford Opco” means Bickford Master II, LLC, a Delaware limited liability company. 

“Bickford Propco” means NHI-Bickford RE, LLC, a Delaware limited liability company. 

  
 3 

 “Bickford Limited Guarantors” means, collectively, Bickford Opco, Bickford
Propco and their respective Subsidiaries that, in each case, are Limited Guarantors. 
 “Borrower” has the meaning
specified in the introductory paragraph hereto. 
 “Borrowing” means (a) Revolving Loans of the same Type, made,
converted or continued on the same date and, in the case of Eurodollar Rate Loans, as to which a single Interest Period is in effect, (b) Term A-1 Loans of the same Type, made, converted or continued on the same date and, in the case of
Eurodollar Rate Loans, as to which a single Interest Period is in effect, (c) Term A-2 Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Rate Loans, as to which a single Interest Period is in
effect, (d) Term A-4 Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Rate Loans, as to which a single Interest Period is in effect, (e) Incremental Term Loans (if any) or (f) a
Swing Line Loan. 
 “Borrowing Request” means a request by the Borrower for a Borrowing in accordance with
Section 2.3. 
 “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial
banks in Charlotte, North Carolina are authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Rate Loan, the term “Business Day” shall also exclude any day on which banks are not
open for dealings in dollar deposits in the London interbank market. 
 “Capitalization Rate” means (a) for properties
and facilities other than those acquired in the Holiday Acquisition, (i) 10% for skilled nursing facilities, (ii) 11% for hospitals and (iii) 8.25% for all properties other than skilled nursing facilities and hospitals and
(b) 6.50% for properties and facilities acquired in the Holiday Acquisition. 
 “Capitalized Lease” means a lease that
is required to be capitalized for financial reporting purposes in accordance with GAAP. 
 “Cash Collateralize” means, to
pledge and deposit with, or deliver to, the Administrative Agent, for the benefit of one or more of the Issuing Bank, the Swing Line Lender or the Lenders, as collateral for Letter of Credit Exposure or obligations of the Lenders to fund
participations in respect of Letter of Credit Exposure or Swing Line Loans, cash or deposit account balances or, if the Administrative Agent, the Issuing Bank and the Swing Line Lender shall agree, in their sole discretion, other credit support, in
each case pursuant to documentation in form and substance satisfactory to the Administrative Agent, the Issuing Bank and the Swing Line Lender. “Cash Collateral” shall have a meaning correlative to the foregoing and shall include
the proceeds of such Cash Collateral and other credit support. 
 “Change in Law” means the occurrence, after the date of
this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or
application thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything
herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines or directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case
be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued. 

  
 4 

 “Change of Control” means any event or series of events by which an event or
series of events by which (a) any Person or group of Persons acting in concert or other group shall, as a result of a tender or exchange offer, open market purchases, privately negotiated purchases or otherwise, have become, after the date of
this Agreement, the “beneficial owner” (within the meaning of such term under Rule 13d-3 under the Exchange Act) of Equity Interests of the Borrower representing Voting Power having the right to elect at least 35% of the members of the
Governing Body of the Borrower; or (b) the Governing Body of Borrower shall cease to consist of a majority of the individuals who constituted the Governing Body of the Borrower as of the date of this Agreement or who shall have become a member
thereof subsequent to the date of this Agreement after having been nominated, or otherwise approved in writing, by at least a majority of individuals who constitute the Governing Body of the Borrower as of the date of this Agreement. 

“Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are Revolving Loans, Term A-1 Loans, Term A-2 Loans, Term A-4 Loans, Incremental Term Loans or Swing Line Loans. 

“Closing Date” means March 27, 2014. 

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

“Commitment Fee(s)” has the meaning set forth in Section 2.11(a). 

“Commitments” means, collectively, as to all Lenders, the Revolving Credit Commitments and the Term Loan Commitments of such
Lenders. 
 “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.). 

“Compliance Certificate” means a certificate substantially in the form of Exhibit B or such other form as may be
acceptable to the Administrative Agent. 
 “Consolidated EBITDA” means, for any period of determination for the Borrower
and its Subsidiaries (other than any Excluded Subsidiaries) calculated on a consolidated basis, the sum of the following, without duplication, in accordance with GAAP: (a) Consolidated Net Income for such period plus (b) the sum of
the following, without duplication, to the extent deducted in determining Consolidated Net Income for such period: (i) Consolidated Interest Expense for such period, (ii) income and franchise taxes accrued during such period,
(iii) amortization, depreciation and other non-cash charges for such period (except to the extent that such non-cash charges are reserved for cash charges to be taken in any future period), (iv) extraordinary losses during such period
(excluding losses from discontinued operations), (v) net losses from discontinued operations during such period and (vi) any non-recurring charges in connection with any Acquisition or Investment in an aggregate amount not to exceed
$5,000,000 for such period less (c) the sum of the following, without duplication, to the extent added in determining Consolidated Net Income for such period (i) interest income on cash and cash equivalents during such period,
(ii) any extraordinary gains during such period and (iii) net earnings from discontinued operations during such period. For the avoidance of doubt, Consolidated EBITDA shall exclude all amounts attributable to (x) Minority Interests
and (y) Excluded Subsidiaries. For purposes of this Agreement, Consolidated EBITDA shall be adjusted on a Pro Forma Basis. 

“Consolidated Fixed Assets” means, calculated as of any given point in time for the Borrower and its Subsidiaries calculated
on a consolidated basis, without duplication, the fair market value of all tangible real and personal property, including without limitation equipment, land and real property improvements. 

  
 5 

 “Consolidated Fixed Charge Coverage Ratio” means, as of any date of
determination, the ratio of (a) Consolidated EBITDA as of such date of determination to (b) Consolidated Fixed Charges as of such date of determination. 

“Consolidated Fixed Charges” means, as of any date of determination for the Borrower and its Subsidiaries calculated on a
consolidated basis, the sum of (a) Consolidated Interest Expense for the Four-Quarter Period ending on or immediately prior to such date, plus (b) scheduled principal payments of Indebtedness for such Four-Quarter Period (excluding
any “balloon” payment or final payment at maturity), plus (c) cash dividends and distributions on preferred stock, if any, for such Four-Quarter Period, in each case, as determined in accordance with GAAP. 

“Consolidated Funded Debt” means, as of any date of determination for the Borrower and its Subsidiaries calculated on a
consolidated basis, without duplication, (a) all of the Indebtedness, which is Indebtedness (i) for borrowed money or evidenced by bonds, debentures, notes or similar instruments, or upon which interest payments are customarily made, or
(ii) in respect of any Capitalized Lease or the deferred purchase price of property, whether or not interest-bearing and whether or not, in accordance with GAAP, classified as a current liability or long-term Indebtedness at such date, and
whether secured or unsecured, excluding, however, to the extent constituting Indebtedness, accounts payable, accrued expenses and similar current liabilities incurred in the Ordinary Course of Business. 

“Consolidated Interest Expense” means, for any period of determination for the Borrower and its Subsidiaries (excluding any
Excluded Subsidiaries) calculated on a consolidated basis, without duplication, an amount equal to the sum of the following: (a) all interest expense in respect of Indebtedness of Borrower and its Subsidiaries deducted in determining
Consolidated Net Income for such period, together with all interest capitalized or deferred during such period and not deducted in determining Consolidated Net Income for such period, plus (b) all debt discount and expense amortized or
required to be amortized in determination of Consolidated Net Income for such period ; provided that, for purposes of calculating Consolidated Interest Expense for the Fiscal Quarters ending March, 31, 2014, June 30, 2014 and
September 30, 2014, such amount shall be annualized as follows: (i) for the Fiscal Quarter ending March 31, 2014, the Consolidated Interest Expense for such Fiscal Quarter times four (4), (ii) for the Fiscal Quarter ending
June 30, 2014, the Consolidated Interest Expense for the Fiscal Quarter ending March 31, 2014 plus the Consolidated Interest Expense for such Fiscal Quarter, times two (2) and (iii) for the Fiscal Quarter ending
September 30, 2014, the Consolidated Interest Expense for the Fiscal Quarter ending March 31, 2014 plus the Consolidated Interest Expense for the Fiscal Quarter ending June 30, 2014, plus the Consolidated Interest
Expense for such Fiscal Quarter, times four/thirds (4/3). For the avoidance of doubt, Consolidated Interest Expense shall exclude all amounts attributable to (x) Minority Interests and (y) Excluded Subsidiaries. For purposes of this
Agreement, Consolidated Interest Expense shall be adjusted on a Pro Forma Basis. 
 “Consolidated Net Income” means, for
any period, the net income (or loss) of the Borrower and its Subsidiaries for such period, calculated on a consolidated basis, without duplication, in accordance with GAAP; provided that in calculating Consolidated Net Income of the Borrower
and its Subsidiaries for any period, there shall be excluded (a) any gains or losses on the sale or other disposition of investments or fixed or capital assets, and any taxes on such excluded gains and any tax deductions or credits on account
of any such excluded losses, (b) the proceeds of any life insurance policy, (c) net earnings and losses of any Subsidiary accrued prior to the date it became a Subsidiary, (d) net earnings and losses of any corporation, substantially
all the assets of which have been acquired in any manner, realized by such other corporation prior to the date of such acquisition, (e) net earnings and losses of any corporation with which a Borrower or a Subsidiary shall have consolidated or
which shall have merged into or with the Borrower or a Subsidiary realized by such other corporation prior to the date of such consolidation or merger, (f) net earnings of any business entity in which the Borrower or any Subsidiary

  
 6 

 
has an ownership interest unless such net earnings shall have actually been received by the Borrower or such Subsidiary in the form of distributions in cash, certificates of deposit, cash
equivalents, bankers’ acceptance or marketable securities, (g) earnings resulting from any reappraisal, revaluation or write-up of assets, (h) any deferred or other credit representing any excess of the equity in any Subsidiary at the
date of acquisition thereof over the amount invested in such Subsidiary and (i) any gain arising from the acquisition of any securities of the Borrower or any Subsidiary. 

“Consolidated Performing Mortgage Note Receivables” means, as of any date of determination for the Loan Parties (other than
with respect to the Limited Guarantors) calculated on a consolidated basis, without duplication, receivables due on any promissory notes payable to the Loan Parties (other than the Limited Guarantors) that meet each of the following conditions:
(a) such receivables are due from Persons that are not Affiliates of any Loan Party; (b) such promissory notes are secured by real property and related personal property in favor of any Loan Party (other than a Limited Guarantor);
(c) such receivables are not subject to any Lien; and (d) such receivables are not due from a Non-Performing Note. “Non-Performing Note” means, collectively, any promissory note payable to any Loan Party (other
than a Limited Guarantor) with respect to which (a) the payment terms have been subject to modification and (b) has been overdue for a period of ninety (90) days after the effective date of such modification. 

“Consolidated Tangible Net Worth” means, as of any date of determination for the Borrower and its Subsidiaries calculated on
a consolidated basis, without duplication, after eliminating all amounts properly attributable to Minority Interests, if any, in the stock and surplus of Subsidiaries, (a) the total assets of the Borrower and its Subsidiaries that would be
reflected on the Borrower’s consolidated balance sheet as of such date prepared in accordance with GAAP, minus (b) the sum of (i) the total liabilities of the Borrower and its Subsidiaries that would be reflected on the
Borrower’s consolidated balance sheet as of such date prepared in accordance with GAAP, and (ii) the net book value of all assets of the Borrower and its Subsidiaries that would be classified as intangible assets on a consolidated balance
sheet of the Borrower and its Subsidiaries as of such date prepared in accordance with GAAP. 
 “Consolidated Total Debt”
means, as of any date of determination for the Loan Parties calculated on a consolidated basis, without duplication, all Indebtedness of the Loan Parties that would be reflected on a consolidated balance sheet of the Loan Parties prepared in
accordance with GAAP as of such date. 
 “Consolidated Total Leverage Ratio” means, as of any date of determination, the
ratio of (a) Consolidated Funded Debt as of such date of determination to (b) Aggregate Total Fixed Asset Value as of such date of determination. 

“Consolidated Unencumbered Fixed Asset Coverage Ratio” means, as of any date of determination, the ratio of (a) the sum
of (i) Aggregate Unencumbered Fixed Asset Value as of such date of determination and (ii) the aggregate amount of all Consolidated Performing Mortgage Note Receivables as of such date of determination (not to exceed $40 million as of any
date of determination) to (b) the aggregate amount of unsecured Consolidated Total Debt as of such date of determination. 

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

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

  
 7 

 “Debtor Relief Laws” means the Bankruptcy Code of the United States of America,
and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable
jurisdictions from time to time in effect. 
 “Default” means any event or condition which constitutes an Event of Default
or which, with the giving or receipt of notice or lapse of time or both, would constitute an Event of Default hereunder. 
 “Default
Rate” has the meaning set forth in Section 2.12(d). 
 “Defaulting Lender” means, subject to
Section 2.20(b), any Lender that (a) has failed to (i) fund all or any portion of the Revolving Loans, the Term A-1 Loans, the Term A-2 Loans, Term A-4 Loans, Incremental Term Loans, participations in Letter of Credit Exposure
or participations in Swing Line Loans required to be funded by it hereunder within two (2) Business Days of the date such Loans or participations were required to be funded hereunder unless such Lender notifies the Administrative Agent and the
Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in
such writing) has not been satisfied, or (ii) pay to the Administrative Agent, the Issuing Bank, the Swing Line Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in
Letters of Credit or Swing Line Loans) within two (2) Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent, the Issuing Bank or the Swing Line Lender in writing that it does not intend to comply with
its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s
determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three
(3) Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that
such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has,
(i) become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with
reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender
solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with
immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any
contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error,
and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.20(b)) upon delivery of written notice of such determination to the Borrower, the Issuing Bank, the Swing Line Lender and each Lender. 

“Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (including any sale
and leaseback transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. 

  
 8 

 “Dollars” or “$” means dollars constituting legal tender for
the payment of public and private debts in the United States of America. 
 “Eligible Assignee” means (a) a Lender,
(b) an Affiliate of a Lender, (c) an Approved Fund, and (d) any other Person (other than a natural person) approved by (i) the Administrative Agent, (ii) with respect to any assignment of the rights or obligations of any
Lender under the Revolving Credit Facility, the Issuing Bank and (iii) unless an Event of Default has occurred and is continuing, the Borrower (each such approval not to be unreasonably withheld or delayed); provided that notwithstanding
the foregoing, “Eligible Assignee” shall not include the Borrower or the Borrower’s Affiliates or Subsidiaries. 

“Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules,
judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment, including those
related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 
 “Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower, any other Loan Party or any of their respective
Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any
Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any
of the foregoing. 
 “Equity Interests” means shares of capital stock, partnership interests, membership interests in a
limited liability company, beneficial interests in a trust or other equity ownership interests in a Person. 
 “ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time. 
 “ERISA Affiliate” means any
trade or business (whether or not incorporated) under common control with the Borrower within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to
Section 412 of the Code). 
 “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan;
(b) the withdrawal of the Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or
a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan
is in reorganization; (d) the filing of a notice of intent to terminate, the treatment of a Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a
Pension Plan; (f) any event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan of the Borrower or any ERISA Affiliate;
(g) the determination that any Pension Plan is considered an at-risk plan or a plan in endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; or (h) the imposition
of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate. 

  
 9 

 “Eurodollar Rate” means a rate per annum (rounded upwards, if necessary, to the
next higher 1/100th of 1%) determined by the Administrative Agent pursuant to the following formula: 
  

					
	Eurodollar Rate =	 	 LIBOR
	 	
		 	1.00-Eurodollar Reserve Percentage	 	

 “Eurodollar Rate Borrowing” or “Eurodollar Rate Loan” means a Borrowing or
Loan, as applicable, that bears interest at a rate based on the Eurodollar Rate. For the avoidance of doubt, no Borrowing or Loan shall be considered a Eurodollar Rate Borrowing or Eurodollar Rate Loan solely as a result of the application of clause
(c) of the definition of Base Rate. 
 “Eurodollar Reserve Percentage” means, for any day, the percentage (expressed
as a decimal and rounded upwards, if necessary, to the next higher 1/100th of 1%) which is in effect for such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve
requirement (including, without limitation, any basic, supplemental or emergency reserves) in respect of eurocurrency liabilities or any similar category of liabilities for a member bank of the Federal Reserve System in New York City. 

“Event of Default” has the meaning set forth in Section 8.1. 

“Excluded Subsidiaries” means, collectively, (a) any Subsidiary from time to time formed or acquired by the Borrower or
any Subsidiary that is designated by the Borrower by written notice to the Administrative Agent as an Excluded Subsidiary within five (5) days following such formation or acquisition, and (b) any Subsidiary that is designated as an
Excluded Subsidiary by written notice to the Administrative Agent and released from the requirement to Guarantee the Obligations pursuant to Section 2.14 of this Agreement; provided, that (i) in no event shall the portion of
the Aggregate Total Fixed Asset Value attributable to any Excluded Subsidiary at any time equal or exceed 15% of the Aggregate Total Fixed Asset Value of the Borrower and its Subsidiaries (in each case, excluding all amounts properly attributable to
Minority Interests), calculated as of the end of the most recent fiscal period end for which financial statements are available, (ii) in no event shall the portion of the Aggregate Total Fixed Asset Value attributable to all Excluded
Subsidiaries, in the aggregate, at any time equal or exceed 20% of the Aggregate Total Fixed Asset Value of the Borrower and its Subsidiaries (in each case, excluding all amounts properly attributable to Minority Interests), calculated as of the end
of the most recent fiscal period end for which financial statements are available, (iii) in no event shall any Excluded Subsidiary provide a Guarantee of any Indebtedness of the Borrower or any other Subsidiary of the Borrower (other than an
Excluded Subsidiary) nor shall the Borrower or any Subsidiary (other than an Excluded Subsidiary) provide any Guarantee of the Indebtedness of an Excluded Subsidiary, (iv) the Borrower may from time to time remove any Subsidiary from the
definition of “Excluded Subsidiary” by delivery of written notice of such removal to the Administrative Agent and delivery of the documentation required by Section 6.13 (as if such Excluded Subsidiary were formed or acquired on
the date of the delivery such notice), and (v) no Subsidiary that has been designated as an Excluded Subsidiary and then removed from such definition pursuant to clause (iv) shall be subsequently re-designated as an Excluded Subsidiary.

 “Excluded Swap Obligation” means, with respect to any Loan Party, any Swap Obligation if, and to the extent that, all or
a portion of the guarantee of such Loan Party of, or the grant by such Loan Party of a security interest to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or
order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Loan Party’s failure for any reason to constitute an “eligible contract participant” as defined in the
Commodity Exchange Act and the regulations thereunder at the time the guarantee of such Loan Party or the grant of 

  
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such security interest becomes effective with respect to such Swap Obligation (such determination being made after giving effect to any applicable keepwell, support or other agreement for the
benefit of the applicable Loan Party, including under Section 26 of the Subsidiary Guaranty Agreement and Section 26 of the Limited Guaranty Agreement). If a Swap Obligation arises under a master agreement governing more than one swap,
such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such guarantee or security interest is or becomes illegal for the reasons identified in the immediately preceding sentence of this
definition. 
 “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the Issuing Bank or any other
recipient of any payment to be made by or on account of any obligation of the Borrower hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and franchise taxes imposed on it (in lieu of net income taxes),
by the jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, (b) any
branch profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction in which the Borrower is located and (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by the
Borrower under Section 10.20), any withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new lending office) or is attributable to such Foreign
Lender’s failure or inability (other than as a result of a Change in Law) to comply with Section 3.2(e), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new
lending office (or assignment), to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 3.2(a). 

“Existing Credit Agreement” means that certain Second Amended and Restated Credit Agreement dated as of the Original Closing
Date (as amended by the First Amendment dated as of December 23, 2013) by and among the Borrower, the lenders party thereto and Wells Fargo, as administrative agent. 

“Facilities” means, collectively or individually as the context may require, the Term A-1 Loan Facility, Term A-2 Loan
Facility, the Term A-4 Loan Facility, the Revolving Credit Facility and, if applicable, and any new term loan facility established pursuant to Section 2.17. 

“Federal Funds Rate” means, for any day, the rate per annum (rounded upwards, if necessary, to the next 1/100th of 1%) equal
to the weighted average of the rates on overnight Federal funds transactions with member banks of the Federal Reserve System arranged by Federal funds brokers, as published by the Federal Reserve Bank of New York on the next succeeding Business Day
or if such rate is not so published for any Business Day, the Federal Funds Rate for such day shall be the average rounded upwards, if necessary, to the next 1/100th of 1% of the quotations for such day on such transactions received by Wells Fargo
from three Federal funds brokers of recognized standing selected by Wells Fargo. 
 “Foreign Lender” means any Lender that
is organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to
constitute a single jurisdiction. 
 “Four-Quarter Period” means a period of four full consecutive fiscal quarters of the
Borrower, taken together as one accounting period. 
 “FRB” means the Board of Governors of the Federal Reserve System of
the United States. 

  
 11 

 “Fronting Exposure” means, at any time there is a Defaulting Lender,
(a) with respect to the Issuing Bank, such Defaulting Lender’s Revolving Credit Applicable Percentage of the outstanding Letter of Credit Exposure other than Letter of Credit Exposure as to which such Defaulting Lender’s participation
obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Revolving Credit Applicable Percentage of Swing Line Loans
other than Swing Line Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders. 

“Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or
otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 
 “GAAP”
means generally accepted principles of accounting in effect from time to time in the United States applied in a manner consistent with those used in preparing such financial statements as have heretofore been furnished to Administrative Agent by the
applicable Person (to the extent heretofore furnished). 
 “Governing Body” means the board of directors of a Person (or
any Person or group of Persons exercising similar authority). 
 “Governmental Approvals” means all authorizations,
consents, approvals, licenses and exemptions of, registrations and filings with, and reports to, any Governmental Authority. 

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

“Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having
the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or
indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in
respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of
income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or
other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other
Person, whether or not such Indebtedness or other obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount
equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as
determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Guaranteed Parties” means, collectively, the Administrative Agent, the Issuing Bank, the Lenders and each Person party to a
Related Credit Arrangement. 

  
 12 

 “Hazardous Materials” means all explosive or radioactive substances or wastes
and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances
or wastes of any nature regulated pursuant to any Environmental Law. 
 “Health Care Facilities” means (a) a health
care facility offering health care-related products and services, including, without limitation, any acute care hospital, rehabilitation hospital, nursing facility, assisted living facility, independent care living facility, retirement center,
long-term care facility, out-patient diagnostic facility or medical office building, life science research and development facility or office and any related or ancillary facility, service or product or (b) housing intended to be occupied
primarily by persons over the age of 55 and related or ancillary facilities, services or products. 
 “Healthcare Laws”
means all applicable statutes, laws, ordinances, rules and regulations of any Governmental Authority with respect to regulatory matters primarily relating to patient healthcare, including without limitation Section 1128B(b) of the Social
Security Act, as amended, 42 U.S.C. Section 1320a 7(b) (Criminal Penalties Involving Medicare or State Health Care Programs), commonly referred to as the “Federal Anti-Kickback Statute,” and the Social Security Act, as amended,
Section 1877, 42 U.S.C. Section 1395nn (Prohibition Against Certain Referrals), commonly referred to as “Stark Statute.” 

“Holiday Acquisition” means the acquisition of the Holiday Business by the Holiday NHI Purchaser and the other transactions
related to such acquisition in accordance with the Holiday Acquisition Agreement and the other Holiday Acquisition Documents. 

“Holiday Acquisition Agreement” means the Purchase Agreement dated as of November 18, 2013 between Holiday NHI Purchaser
and the Holiday Seller. 
 “Holiday Acquisition Documents” means the Holiday Acquisition Agreement, the Holiday Master
Lease, the Holiday Master Guaranty Agreement and each other material document, instrument, certificate and agreement (together with all exhibits, schedules and other attachments thereto) executed or delivered in connection with the Holiday
Acquisition Agreement. 
 “Holiday Business” means (a) all the land, buildings, furniture, fixtures and equipment used
to operate certain independent living facilities from the Holiday Seller and (b) and the equity interests of the Holiday Subsidiaries. 

“Holiday Master Lease” means the Master Lease dated as of December 23, 2013 between the Holiday NHI Purchaser, Myrtle
Beach Retirement Residence LLC and Voorhees Retirement Residence LLC, as landlords, and NH Master Tenant, LLC, as tenant. 

“Holiday Master Lease Guarantor” means Holiday AL Holdings LP, a Delaware limited partnership. 

“Holiday Master Lease Guaranty Agreement” means the Guaranty of Lease dated as of December 23, 2013 executed by the
Holiday Master Lease Guarantor in favor of the Holiday NHI Purchaser and Myrtle Beach Retirement Residence LLC and Voorhees Retirement Residence LLC. 

“Holiday NHI Purchaser” means NHI-REIT of Next House, LLC, a Delaware limited liability company. 

“Holiday Seller” means certain subsidiaries of Holiday Acquisition Holdings LLC, a Delaware limited liability company, party
to the Holiday Acquisition Agreement. 

  
 13 

 “Holiday Subsidiaries” means Myrtle Beach Retirement Residence LLC and Voorhees
Retirement Residence LLC. 
 “Incremental Lender” has the meaning set forth in Section 2.17(e)(ii)(D). 

“Incremental Revolving Credit Commitment” has the meaning set forth in Section 2.17(a)(i). 

“Incremental Revolving Credit Increase” has the meaning set forth in Section 2.17(a)(i). 

“Incremental Term Loan” has the meaning set forth in Section 2.17(a)(ii). 

“Incremental Term Loan Commitment” has the meaning set forth in Section 2.17(a)(ii). 

“Incremental Term Loan Applicable Percentage” means, with respect to any Incremental Lender at any time, the ratio of
(a) the outstanding principal balance of applicable Incremental Term Loans of such Incremental Lender to (b) the aggregate outstanding principal balance of all such Incremental Term Loans of all Incremental Lenders. 

“Indebtedness” means, with respect to any Person, the following, without duplication: (a) all obligations of such Person
for borrowed money; (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, or upon which interest payments are customarily made; (c) all indebtedness Guaranteed, directly or indirectly, in any
manner, or endorsed (other than for collection or deposit in the Ordinary Course of Business) or discounted with recourse; (d) all indebtedness in effect Guaranteed, directly or indirectly, by such Person; (e) all indebtedness secured by
(or which the holder of such indebtedness has a right, contingent or otherwise, to be secured by) any Lien upon property owned or acquired subject thereto, whether or not the liabilities secured thereby have been assumed; (f) all indebtedness
under (x) any Capitalized Lease or (y) incurred as the lessee of goods or services under leases that, in accordance with GAAP, should be reflected on the lessee’s balance sheet; (g) all obligations, contingent or otherwise, of
such Person as an account party in respect of letters of credit and letters of guaranty, (h) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances and (i) all net obligations of such Person under
any Swap Contracts. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such
Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. Subject to Section 1.4, the amount of any net obligation
under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. 
 “Indemnified
Taxes” means Taxes other than Excluded Taxes. 
 “Initial Term Loans” means, collectively, the term loans made, or
to be made, pursuant to Section 2.1(b), (c) and (d). 
 “Interest Election Request” means a
request by the Borrower to convert or continue a Borrowing in accordance with Section 2.7. 
 “Interest Payment
Date” has the meaning specified in Section 2.12(e). 
 “Interest Period” means, with respect to any
Eurodollar Rate Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months thereafter, as the Borrower may elect; provided, that
(i) if any Interest 

  
 14 

 
Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a Eurodollar Rate Borrowing only, such next
succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day and (ii) any Interest Period pertaining to a Eurodollar Rate Borrowing that commences on the last
Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes
hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and, thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 

“Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of
(a) the purchase or other acquisition of any Equity Interest or other ownership or profit interest, warrants, rights, options, obligations or other securities of another Person (excluding any interests or other securities included in clause
(b) of this definition), (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any
partnership or joint venture interest in such other Person, or (c) any Acquisition. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or
decreases in the value of such Investment. 
 “Issuing Bank” means Wells Fargo, in its capacity as issuer of any Letters of
Credit hereunder. 
 “Joint Venture Unencumbered Fixed Asset Value” means, with respect to each Unencumbered Lease
Property owned by any Loan Party that is a non-Wholly Owned Subsidiary of the Borrower as of any date of determination, without duplication, the result of (a) (i) the Unencumbered Lease Property Net Operating Income for the
Four-Quarter Period ending on or immediately prior to such date of determination for such Unencumbered Lease Property divided by (ii) the applicable Capitalization Rate for such Unencumbered Lease Property multiplied
by (b) the percentage of Equity Interests in such non-Wholly Owned Subsidiary owned by the Borrower or any of its Wholly Owned Subsidiaries as of such date of determination. 

“Lease Property” means each Real Property that satisfies all of the following requirements: (a) such Real Property is
owned in fee simple solely by the Borrower or any of its Subsidiaries, (b) such Real Property is leased to another Person solely by the Borrower or any of its Subsidiaries, as lessor, pursuant to a long-term lease that is subject to customary
market terms and conditions at the time such lease is executed; and (c) such Real Property has been designated by the Borrower as a “Lease Property” on Schedule 4.21(a) or on a Compliance Certificate delivered by the Borrower
to the Administrative Agent pursuant to Section 6.2. 
 “Lease Property Expenses” means, with respect to the
Borrower and its Subsidiaries, the cost (including, but not limited to, payroll, taxes, assessments, insurance, utilities, landscaping and other similar charges) of operating and maintaining any Lease Property of the Borrower or any of its
Subsidiaries that are the responsibility of such Person and not paid directly by the tenant of such property, but excluding depreciation, amortization, interest costs and maintenance capital expenditures to the extent such property is under a
triple-net lease. For purposes of this Agreement, Lease Property Expenses shall be adjusted on a Pro Forma Basis. 
 “Lease Property
Income” means, for any period of determination with respect to the Borrower and its Subsidiaries calculated on a consolidated basis, without duplication, the cash rents (excluding, as an abundance of caution, non-cash straight-line rent)
and other cash revenues received by the Borrower or any of its Subsidiaries in the ordinary course of business attributable to any Lease Property of such 

  
 15 

 
Person, but excluding (a) security deposits and prepaid rent except to the extent applied in satisfaction of any tenant’s obligations for rent and (b) rent or other cash revenues
received by the Borrower or any of its Subsidiaries from any tenant that is the subject of a proceeding under any Debtor Relief Law; provided that, for purposes of determining Lease Property Income for any period of determination that
includes the fiscal quarter during which any Subsidiary is formed or acquired and for each of the three (3) fiscal quarters thereafter, the determination of the amount of cash rents and other cash revenues attributable to any Lease Property of
such Subsidiary shall be deemed to be the amount of: 
 (i) for the four fiscal quarter period ending during the fiscal quarter during which
such Subsidiary is formed or acquired, contract rents and revenues attributable to any Lease Property of such Subsidiary times four (4); 

(ii) for the four consecutive fiscal quarter period ending the first fiscal quarter following the fiscal quarter during which such Subsidiary
is formed or acquired, the amount of cash rents and other cash revenues attributable to any Lease Property of such Subsidiary for such fiscal quarter times four (4); 

(iii) for the four consecutive fiscal quarter period ending the second fiscal quarter following the fiscal quarter during which such
Subsidiary is formed or acquired, the amount of cash rents and other cash revenues attributable to any Lease Property of such Subsidiary for the preceding two consecutive fiscal quarters times two (2); and 

(iv) for the four consecutive fiscal quarter period ending the third fiscal quarter following the fiscal quarter during which such Subsidiary
is formed or acquired, the amount of cash rents and other revenues attributable to any Lease Property of such Subsidiary for the preceding three consecutive fiscal quarters times four-thirds (4/3). 

For purposes of this Agreement, Lease Property Income shall be adjusted on a Pro Forma Basis. 

“Lender” has the meaning specified in the introductory paragraph hereto and, as the context requires, includes the Swing Line
Lender. 
 “Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such
Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent. 

“Letter of Credit” means any standby letter of credit issued hereunder. 

“Letter of Credit Agreement” means a form of letter of credit application or other agreement submitted by the Borrower to, or
entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit. 
 “Letter of Credit Exposure” means,
at any time, the sum of (a) the aggregate undrawn amount of all Letters of Credit outstanding at such time, plus (b) the aggregate amount of unreimbursed drawings under Letters of Credit issued hereunder. The Letter of Credit
Exposure of any Revolving Credit Lender at any time shall be its Revolving Credit Applicable Percentage of the total Letter of Credit Exposure at such time. 

“Letter of Credit Fee” has the meaning set forth in Section 2.11(b). 

  
 16 

 “Letter of Credit Sublimit” means the lesser of (a) $10,000,000 and
(b) the Aggregate Revolving Credit Commitments. The Letter of Credit Sublimit is part of and not in addition to the Aggregate Revolving Credit Commitments. 

“LIBOR” means, 

(a) for any interest rate calculation with respect to a Eurodollar Rate Loan, the rate of interest per annum determined on the basis of the
rate for deposits in Dollars for a period equal to the applicable Interest Period which appears on Reuters Screen LIBOR01 Page (or any applicable successor page) at approximately 11:00 a.m. (London time) two (2) Business Days prior to the first
day of the applicable Interest Period (rounded upward, if necessary, to the nearest 1/100th of 1%). If, for any reason, such rate does not appear on Reuters Screen LIBOR01 Page (or any applicable successor page), then “LIBOR” shall be
determined by the Administrative Agent to be the arithmetic average of the rate per annum at which deposits in Dollars in minimum amounts of at least $5,000,000 would be offered by first class banks in the London interbank market to the
Administrative Agent at approximately 11:00 a.m. (London time) two (2) Business Days prior to the first day of the applicable Interest Period for a period equal to such Interest Period. 

(b) for any interest rate calculation with respect to a Base Rate Loan, the rate of interest per annum determined on the basis of the rate for
deposits in Dollars in minimum amounts of at least $5,000,000 for a period equal to one month (commencing on the date of determination of such interest rate) which appears on the Reuters Screen LIBOR01 Page (or any applicable successor page) at
approximately 11:00 a.m. (London time) on such date of determination, or, if such date is not a Business Day, then the immediately preceding Business Day (rounded upward, if necessary, to the nearest 1/100th of 1%). If, for any reason, such rate
does not appear on Reuters Screen LIBOR01 Page (or any applicable successor page) then “LIBOR” for such Base Rate Loan shall be determined by the Administrative Agent to be the arithmetic average of the rate per annum at which deposits in
Dollars in minimum amounts of at least $5,000,000 would be offered by first class banks in the London interbank market to the Administrative Agent at approximately 11:00 a.m. (London time) on such date of determination for a period equal to one
month commencing on such date of determination. 
 Each calculation by the Administrative Agent of LIBOR shall be conclusive and binding for
all purposes, absent manifest error. 
 “Lien” means any mortgage, pledge, encumbrance, charge, security interest, lien,
assignment or other preferential arrangement of any nature whatsoever, including any conditional sale agreement or other title retention agreement. 

“Limited Guarantors” means, collectively or individually as the context may indicate, each non-Wholly Owned Subsidiary
identified on Schedule 1.1(a), and any other non-Wholly Owned Subsidiary who may from time to time become party to a Limited Guaranty Agreement. 

“Limited Guaranty Agreement” means any Limited Guaranty Agreement (in form and substance reasonably acceptable to the
Administrative Agent) made by each Limited Guarantor in favor of the Administrative Agent for the benefit of the Guaranteed Parties, as amended, restated, supplemented or otherwise modified from time to time. 

“Limited Guaranty Joinder Agreement” means each Limited Guaranty Joinder Agreement, substantially in the form thereof
attached to a Limited Guaranty Agreement, executed and delivered by a non-Wholly Owned Subsidiary of the Borrower to the Administrative Agent pursuant to Section 6.13. 

  
 17 

 “Loan” means an extension of credit by a Lender to the Borrower under Article
II in the form of a Revolving Loan, a Term Loan or Swing Line Loan. 
 “Loan Documents” means, collectively, this
Agreement, each Note, each Subsidiary Guaranty Agreement, each Limited Guaranty Agreement, each Letter of Credit Agreement, and any and all other instruments, agreements, documents and writings executed by a Loan Party in connection with any of the
foregoing. 
 “Loan Parties” means the Borrower, the Subsidiary Guarantors and the Limited Guarantors, collectively. 

“Master Lease” means that certain Master Agreement Lease dated as of October 17, 1991 between the Borrower and National
HealthCare Corporation (as amended), which, as of the date hereof, currently expires December 31, 2021 (excluding 3 additional 5-year renewal options). 

“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations,
business, properties, liabilities (actual and contingent), or condition (financial or otherwise) of the Borrower and the other Loan Parties taken as a whole; (b) a material impairment of the ability of any Loan Party to perform its obligations
under any Loan Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party. 

“Material Agreement” means the Master Lease and any other contract or agreement to which any Loan Party is a party, by which
any Loan Party or its properties are bound, or to which any Loan Party is subject and which contract or agreement, if on account of any breach or termination thereof, could reasonably be expected to result in a Material Adverse Effect. 

“Material Indebtedness” has the meaning set forth in Section 8.1(e). 

“Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit
account balances, an amount equal to 105% of the Fronting Exposure of the Issuing Bank with respect to Letters of Credit issued and outstanding at such time and (ii) otherwise, an amount determined by the Administrative Agent, the Issuing Bank
and the Swing Line Lender in their sole discretion. 
 “Minority Interests” means any Equity Interest of any class of a
Subsidiary (other than directors’ qualifying shares as required by law) that are not owned by the Borrower and/or one or more of their Subsidiaries. Minority Interests shall be valued by valuing Minority Interests constituting Preferred Stock
at the voluntary or involuntary liquidation value of such Preferred Stock, whichever is greater, and by valuing Minority Interests constituting common stock at the book value of capital and surplus applicable thereto adjusted, if necessary, to
reflect any changes from the book value of such common stock required by the foregoing method of valuing Minority Interests in Preferred Stock. 

“Multiple Employer Plan” means a Plan which has two (2) or more contributing sponsors (including the Borrower or any
ERISA Affiliate) at least two (2) of whom are not under common control, as such a plan is described in Section 4064 of ERISA. 

“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the
Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five (5) plan years, has made or been obligated to make contributions. 

  
 18 

 “Non-Bickford Limited Guarantors” means, collectively, any Limited Guarantor
that is not a Bickford Limited Guarantor. 
 “Non-Consenting Lender” has the meaning assigned to such term in
Section 10.20(a)(i). 
 “Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender
at such time. 
 “Note” means a promissory note executed pursuant to Section 2.9(e). 

“Obligations” means all amounts owing by any Loan Party to the Administrative Agent, any Lender or any other Guaranteed Party
pursuant to or in connection with this Agreement or any other Loan Document or otherwise with respect to any Loan, Letter of Credit or Related Credit Arrangement, including without limitation, all principal, interest (including any interest accruing
after the filing of any petition in bankruptcy or the commencement of any insolvency, reorganization or like proceeding relating to any Loan Party, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), all
reimbursement obligations, fees, expenses, indemnification and reimbursement payments, costs and expenses (including all fees and expenses of counsel to the Administrative Agent incurred pursuant to this Agreement, any other Loan Document or any
Related Credit Arrangement), whether direct or indirect, absolute or contingent, liquidated or unliquidated, now existing or hereafter arising hereunder or thereunder, together with all renewals, extensions, modifications or refinancings thereof;
provided that “Obligations” shall exclude any Excluded Swap Obligations. 
 “OFAC” means the U.S.
Department of the Treasury’s Office of Foreign Assets Control. 
 “Ordinary Course of Business” means an action taken
by a Person only if such action is consistent with the past practices of such Person and is taken in the ordinary course of the normal operations of such Person. 

“Organization Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and
the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation and operating agreement; and (c) with
respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation and any agreement, instrument, filing or notice with respect thereto filed in connection
with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or organization of such entity. 

“Original Closing Date” means June 28, 2013. 

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

“Participant” has the meaning assigned to such term in Section 10.5(d). 

“Participant Register” has the meaning assigned to such term in Section 10.5. 

“PATRIOT Act” means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as amended
from time to time. 

  
 19 

 “Payment Office” means the office of the Administrative Agent located at 3050
Peachtree Road, NW, Suite 400, Atlanta, GA 30305, or such other location as to which the Administrative Agent shall have given written notice to the Borrower. 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Act” means the Pension Protection Act of 2006, as amended from time to time. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any
installment payment thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act
and, thereafter, Section 412, 430, 431 and 432 of the Code and Sections 302, 303, 304 and 305 of ERISA. 
 “Pension
Plan” means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and is
maintained or is contributed to by the Borrower and any ERISA Affiliate. 
 “Permitted Liens” means any Lien permitted
under Section 7.1 
 “Person” means any natural person, corporation, limited liability company, trust, joint
venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means any employee benefit
plan within the meaning of Section 3(3) of ERISA (including a Pension Plan), maintained for employees of the Borrower or any ERISA Affiliate or any such Plan to which the Borrower or any ERISA Affiliate is required to contribute on behalf of
any of its employees. 
 “Preferred Stock” shall mean, in respect of any corporation or other legal entity, shares of the
capital stock of such corporation or comparable interests in such other legal entity that are entitled to preference or priority over any other shares of the capital stock of such corporation or other equity interests in such other legal entity in
respect of payment of dividends or distributions upon liquidation or otherwise. 
 “Prime Rate” means, at any time, the
rate of interest per annum publicly announced from time to time by the Administrative Agent as its prime rate. Each change in the Prime Rate shall be effective as of the opening of business on the day such change in such prime rate occurs. The
parties hereto acknowledge that the rate announced publicly by the Administrative Agent as its prime rate is an index or base rate and shall not necessarily be its lowest or best rate charged to its customers or other banks. 

“Pro Forma Basis” means, for purposes of calculating Consolidated EBITDA, Consolidated Interest Expense, Lease Property
Expenses, Lease Property Income and Unencumbered Lease Property Income for any period during which one or more Specified Transactions occurs, that such Specified Transaction (and all other Specified Transactions that have been consummated during the
applicable period) shall be deemed to have occurred as of the first day of the applicable period of measurement and all income statement items (whether positive or negative) attributable to the Property or Person disposed of in a Specified
Disposition shall be excluded and all income statement items (whether positive or negative) attributable to the Property or Person acquired in a Specified Acquisition permitted hereunder shall be included (provided that such income statement
items to be included are reflected in financial statements or other financial data reasonably acceptable to the Administrative Agent and based upon reasonable assumptions and calculations which are expected to have a continuous impact);
provided that 

  
 20 

 
the foregoing costs, expenses and adjustments shall be without duplication of any costs, expenses or adjustments that are already included in the calculation of Consolidated EBITDA, Consolidated
Interest Expense, Lease Property Expenses, Lease Property Income and Unencumbered Lease Property Income. 
 “Real Property”
means the real property owned by any Loan Party, or in which any such Person has a leasehold interest. 
 “Register” has
the meaning set forth in Section 10.5(c). 
 “REIT” means a domestic trust or corporation that qualifies as a
real estate investment trust under the provisions of Section 856, et seq. of the Internal Revenue Code. 
 “Related Credit
Arrangements” means, collectively, any Related Swap Contracts and any Related Treasury Management Arrangements. 
 “Related
Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents and advisors of such Person and of such Person’s Affiliates. 

“Related Swap Contracts” means all Swap Contracts which are now or hereafter entered into or maintained with a Lender or an
Affiliate of a Lender. 
 “Related Treasury Management Arrangement” means all arrangements for the delivery of cash
management services, including treasury, depository, overdraft, credit or debit card, electronic funds transfer and other cash management arrangements, to or for the benefit of any Loan Party which are now or hereafter entered into or maintained
with a Lender or an Affiliate of a Lender. 
 “Replaced Lender” has the meaning set forth in Section 10.20(b).

 “Replacement Event” has the meaning set forth in Section 10.20(a). 

“Replacement Lender” has the meaning set forth in Section 10.20(b). 

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day
notice period has been waived. 
 “Required Lenders” means, as of any date of determination, Lenders having Total Credit
Exposures representing at least 50% of the sum of the aggregate Total Credit Exposure at such time; provided that (a) the Total Credit Exposure of any Defaulting Lender shall be excluded for purposes of making a determination of Required
Lenders (except that the commitment of any Defaulting Lender to fund risk participations in Letter of Credit Exposure with respect to any outstanding Letter of Credit at such time shall be deemed to be held by the Issuing Bank), and
(b) in the event there is only one (1) Lender that is not a Defaulting Lender, such term shall mean such Lender.  

“Required Revolving Credit Lenders” means, as of any date of determination, Lenders having Revolving Credit Exposure and
unused Revolving Credit Commitments representing at least 50% of the sum of the aggregate Revolving Credit Exposure and unused Revolving Credit Commitments at such time; provided that (a) the Revolving Credit Exposure of, and the portion
of the unused Revolving Credit Commitments held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Credit Lenders (except that the commitment of any Defaulting Lender to
fund risk participations in Letter of Credit Exposure with respect to any outstanding Letter of Credit at such time shall be deemed to be held by the Issuing Bank), and (b) in the event there is only one (1) Revolving Credit Lender that is
not a Defaulting Lender, such term shall mean such Revolving Credit Lender.  

  
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 “Responsible Officer” means, with respect to any Person, the chief executive
officer, president, treasurer, chief financial officer or chief accounting officer of such Person. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all
necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to
any Equity Interest of the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of any such Equity Interest or of any option, warrant or other right to acquire any such Equity Interest. 
 “Revolving
Credit Applicable Percentage” means, with respect to any Revolving Credit Lender at any time, the percentage (carried out to the ninth decimal place) of the Revolving Credit Facility represented by such Revolving Credit Lender’s
Revolving Credit Commitment at such time. If the commitment of each Revolving Credit Lender to make Revolving Loans and the obligation of the Issuing Bank to issue Letters of Credit have terminated or if the Revolving Credit Commitments have
expired, then the Revolving Credit Applicable Percentage of each Revolving Credit Lender in respect of the Revolving Credit Facility shall be determined based on the Revolving Credit Applicable Percentage of such Revolving Credit Lender in respect
of the Revolving Credit Facility most recently in effect, giving effect to any subsequent assignments. The initial Revolving Credit Applicable Percentage of each Revolving Credit Lender is set forth opposite the name of such Lender on Schedule
2.1 or in the Assignment and Assumption pursuant to which such Revolving Credit Lender becomes a party hereto, as applicable. 

“Revolving Credit Commitment” means, with respect to each Revolving Credit Lender, the commitment of such Revolving Credit
Lender to make Revolving Loans and to acquire participations in Letters of Credit and Swing Line Loans hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.8 and (b) reduced or increased from
time to time pursuant to assignments by or to such Revolving Credit Lender pursuant to Section 10.5. The initial amount of each Revolving Credit Lender’s Revolving Credit Commitment is set forth on Schedule 2.1, or in
the Assignment and Assumption pursuant to which such Revolving Credit Lender shall have assumed its Revolving Credit Commitment, as applicable. 

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

“Revolving Credit Facility” means, at any time, the revolving credit facility established pursuant to the Revolving Credit
Commitments (including any increase in such revolving credit facility established pursuant to Section 2.17). 

“Revolving Credit Lender” means any Lender with a Revolving Credit Commitment. 

“Revolving Credit Maturity Date” means the earliest of (a) March 27, 2018 (or such later date to which such date
may be extended pursuant to Section 2.18), (b) the date on which the Revolving Credit Commitments are terminated pursuant to Section 2.8 and (c) the date on which all Revolving Loans under this Agreement have been
declared or have automatically become due and payable (whether by acceleration or otherwise). 

  
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 “Revolving Loan” means a revolving credit loan made pursuant to
Section 2.1(a). 
 “Sanctioned Country” means, at any time, a country or territory which is the subject or
target of any Sanctions. 
 “Sanctioned Person” means, at any time, any Person that (a) is publicly identified on the
most current list of “Specially Designated Nationals and Blocked Persons” published by the Office of Foreign Assets Control of the US Department of the Treasury (“OFAC”) or resides, is organized or chartered, or has a
place of business in a country or territory subject to OFAC sanctions or embargo programs or (b) is publicly identified as prohibited from doing business with the United States under the International Emergency Economic Powers Act or the
Trading With the Enemy Act. 
 “Sanctions” means all Applicable Laws related to money laundering or financing terrorism
including the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (“USA PATRIOT Act”) of 2001 (Title III of Pub. L. 107-56), The Currency and Foreign Transactions Reporting Act
(also known as the “Bank Secrecy Act”, 31 U.S.C. §§ 5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 1951-1959), the Trading With the Enemy Act (50 U.S.C. § 1 et seq., as amended) and Executive Order 13224
(effective September 24, 2001). 
 “Solvent” and “Solvency” mean, with respect to any Person on a
particular date, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person, (b) the present fair salable value
of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will,
incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature and (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which
such Person’s property would constitute an unreasonably small capital. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the
amount that can reasonably be expected to become an actual or matured liability. 
 “Specified Acquisition” means any
acquisition by the Borrower or any of its Subsidiaries of all or substantially all of the assets or Equity Interests of any other Person or any division, business unit, product line or line of business, in each case that involves the payment of
consideration by the Borrower or any of its Subsidiaries in excess of $50,000,000. 
 “Specified Disposition” means any
disposition of all or substantially all of the assets or Equity Interests of any Subsidiary of the Borrower or any division, business unit, product line or line of business, in each case that results in the receipt by the Borrower or any of its
Subsidiaries of net cash proceeds in excess of $50,000,000. 
 “Specified Transactions” means (a) any Specified
Disposition and (b) any Specified Acquisition (including the Holiday Acquisition). 
 “Subsidiary” means, with respect
to any Person (the “parent”), any other Person the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP
as of such date, as well as any other Person (a) of which Equity Interests representing more than 50% of the equity or more than 50% of the 

  
 23 

 
ordinary voting power, or in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, Controlled or held, or (b) that is, as of such date,
otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. Unless otherwise indicated, all references to “Subsidiary” hereunder means a Subsidiary of the
Borrower. 
 “Subsidiary Guarantors” means, collectively or individually as the context may indicate, each Subsidiary of
the Borrower (including, without limitation, each Subsidiary who may from time to time become a party to the Subsidiary Guaranty Agreement), other than (i) any Excluded Subsidiary and (ii) any non-Wholly Owned Subsidiary that is a Limited
Guarantor. The Subsidiary Guarantors existing as of the Closing Date are set forth on Schedule 1.1(b). 
 “Subsidiary
Guaranty Agreement” means the Second Amended and Restated Subsidiary Guaranty Agreement dated as of the Original Closing Date and made by each Subsidiary Guarantor in favor of the Administrative Agent for the benefit of the Guaranteed
Parties, as amended, restated, supplemented or otherwise modified from time to time. 
 “Subsidiary Guaranty Joinder
Agreement” means each Subsidiary Guaranty Joinder Agreement, substantially in the form thereof attached to the Subsidiary Guaranty Agreement, executed and delivered by a Subsidiary of the Borrower to the Administrative Agent pursuant to
Section 6.13 or otherwise. 
 “Swap Contract” means (a) any and all interest rate swap transactions, basis
swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward
bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency
options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement,
and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any
Master Agreement. 
 “Swap Obligation” means, with respect to any Loan Party, any obligation to pay or perform under any
agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act. 

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any
legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and
(b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any
recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 
 “Swing Line
Exposure” means, at any time, the aggregate principal amount of all Swing Line Loans outstanding at such time. The Swing Line Exposure of any Revolving Credit Lender at any time shall be its Revolving Credit Applicable Percentage of the
total Swing Line Exposure at such time. 

  
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 “Swing Line Lender” means Wells Fargo, in its capacity as lender of Swing Line
Loans hereunder. 
 “Swing Line Loan” means a Loan made pursuant to Section 2.4. 

“Swing Line Sublimit” means the lesser of (a) $10,000,000 and (b) the Aggregate Revolving Credit Commitments. The
Swing Line Sublimit is part of and not in addition to the Aggregate Revolving Credit Commitments. 
 “Taxes” means all
present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Term A-1 Loan Applicable Percentage” means, with respect to any Term A-1 Loan Lender at any time, the ratio of (a) the
outstanding principal balance of the Term A-1 Loan of such Term A-1 Loan Lender to (b) the aggregate outstanding principal balance of all Term A-1 Loans of all Term A-1 Loan Lenders. The initial Term A-1 Loan Applicable Percentage of each Term
A-1 Loan Lender is set forth opposite the name of such Term A-1 Loan Lender on Schedule 2.1 or in the Assignment and Assumption pursuant to which such Term A-1 Loan Lender becomes a party hereto, as applicable. 

“Term A-1 Loan Commitment” means, (a) with respect to any Lender, the commitment of such Lender to make a portion of the
Term A-1 Loan to the account of the Borrower hereunder on the Closing Date and (b) as to all Lenders, the aggregate commitment of all Lenders to make such Term A-1 Loans. The initial amount of each Lender’s Term A-1 Loan Commitment is set
forth on Schedule 2.1 and the aggregate Term A-1 Loan Commitments of all Lenders is $40,000,000. 
 “Term A-1 Loan
Facility” means, at any time, the term loan facility established pursuant to the Term A-1 Loan Commitments. 
 “Term A-1
Loan Lender” means (a) at any time on or prior to the Closing Date, any Lender that has a Term A-1 Loan Commitment at such time and (b) at any time after the Closing Date, any Lender that holds outstanding Term A-1 Loans at such
time. 
 “Term A-1 Loan Maturity Date” means the earliest of (a) June 29, 2020 and (b) the date on which the
Term A-1 Loans under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise). 

“Term A-1 Loans” means the term loan made, or to be made, pursuant to Section 2.1(b) and “Term A-1
Loan” means any of such Term A-1 Loans. 
 “Term A-2 Loan Applicable Percentage” means, with respect to any Term
A-2 Loan Lender at any time, the ratio of (a) the outstanding principal balance of the Term A-2 Loan of such Term A-2 Loan Lender to (b) the aggregate outstanding principal balance of all Term A-2 Loans of all Term A-2 Loan Lenders. The
initial Term A-2 Loan Applicable Percentage of each Term A-2 Loan Lender is set forth opposite the name of such Term A-2 Lender on Schedule 2.1 or in the Assignment and Assumption pursuant to which such Term A-2 Lender becomes a party hereto,
as applicable. 
 “Term A-2 Loan Commitment” means, (a) with respect to any Lender, the commitment of such Lender to
make a portion of the Term A-2 Loan to the account of the Borrower hereunder on the Closing Date and (b) as to all Lenders, the aggregate commitment of all Lenders to make such Term A-2 Loans. The initial amount of each Lender’s Term A-2
Loan Commitment is set forth on Schedule 2.1 and the aggregate Term A-2 Loan Commitments of all Lenders is $80,000,000. 

  
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 “Term A-2 Loan Facility” means, at any time, the term loan facility established
pursuant to the Term A-2 Loan Commitments. 
 “Term A-2 Loan Lender” means (a) at any time on or prior to the Closing
Date, any Lender that has a Term A-2 Loan Commitment at such time and (b) at any time after the Closing Date, any Lender that holds outstanding Term A-2 Loans at such time. 

“Term A-2 Loan Maturity Date” means the earliest of (a) June 29, 2020 and (b) the date on which the Term A-2
Loans under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise). 

“Term A-2 Loans” means the term loan made, or to be made, pursuant to Section 2.1(c), and “Term A-2
Loan” means any of such Term A-2 Loans. 
 “Term A-4 Loan Applicable Percentage” means, with respect to any Term
A-4 Loan Lender at any time, the ratio of (a) the outstanding principal balance of the Term A-4 Loan of such Term A-4 Loan Lender to (b) the aggregate outstanding principal balance of all Term A-4 Loans of all Term A-4 Loan Lenders. The
initial Term A-4 Loan Applicable Percentage of each Term A-4 Loan Lender is set forth opposite the name of such Term A-4 Loan Lender on Schedule 2.1 or in the Assignment and Assumption pursuant to which such Term A-4 Loan Lender becomes a
party hereto, as applicable. 
 “Term A-4 Loan Commitment” means, (a) with respect to any Lender, the commitment of
such Lender to make a portion of the Term A-4 Loan to the account of the Borrower hereunder on the Closing Date and (b) as to all Lenders, the aggregate commitment of all Lenders to make such Term A-4 Loans. The initial amount of each
Lender’s Term A-4 Loan Commitment is set forth on Schedule 2.1 and the aggregate Term A-4 Loan Commitments of all Lenders is $130,000,000. 

“Term A-4 Loan Facility” means, at any time, the term loan facility established pursuant to the Term A-4 Loan Commitments.

 “Term A-4 Loan Lender” means (a) at any time on or prior to the Closing Date, any Lender that has a Term A-4 Loan
Commitment at such time and (b) at any time after the Closing Date, any Lender that holds outstanding Term A-4 Loans at such time. 

“Term A-4 Loan Maturity Date” means the earliest of (a) June 29, 2020 and (b) the date on which the Term A-4
Loans under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise). 

“Term A-4 Loans” means the term loan made, or to be made, pursuant to Section 2.1(d) and “Term A-4
Loan” means any of such Term A-4 Loans. 
 “Term Loan Applicable Percentage” means, the Term A-1 Loan Applicable
Percentage, the Term A-2 Loan Applicable Percentage, the Term A-4 Loan Applicable Percentage or the Incremental Term Loan Applicable Percentage, as applicable. 

“Term Loan Commitments” means, collectively, the Term A-1 Loan Commitment, the Term A-2 Loan Commitment, the Term A-4 Loan
Commitment and, if applicable, any Incremental Term Loan Commitment. 

  
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 “Term Loan Facilities” means, collectively, the Term A-1 Loan Facility, the Term
A-2 Loan Facility, the Term A-4 Loan Facility and any new term loan facility established pursuant to Section 2.17 and “Term Loan Facility” means any of such Term Loan Facilities. 

“Term Loan Lenders” means, collectively, the Term A-1 Loan Lenders, the Term A-2 Loan Lenders, the Term A-4 Loan Lenders and,
if applicable, the Incremental Lenders holding Incremental Term Loans and “Term Loan Lender” means any of such Term Loan Lenders. 

“Term Loans” means, collectively, the Term A-1 Loans, the Term A-2 Loans, the Term A-4 Loans and, if applicable, the
Incremental Term Loans, and “Term Loan” means any of such Loans. 
 “Total Credit Exposure” means, as to
any Lender at any time, the unused Commitments, the Revolving Credit Exposure, the outstanding principal amount of the Term A-1 Loan, the outstanding principal amount of the Term A-2 Loan, the outstanding principal amount of the Term A-4 Loan, the
outstanding principal amount of the Incremental Term Loans (if any), in each case of such Lender at such time. 
 “Total Lease
Property Net Operating Income” means, with respect to any Lease Property of the Borrower or any of its Subsidiaries for any applicable period, (a) Lease Property Income for such period minus (b) Lease Property Expenses for
such period. 
 “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such
Loan, or on the Loans comprising such Borrowing, is determined by reference to the Eurodollar Rate or the Base Rate. 

“UCC” means the Uniform Commercial Code as in effect in the State of New York. 

“Unencumbered Fixed Asset Value” means, with respect to each Unencumbered Lease Property owned by any Loan
Party (other than a Limited Guarantor) as of any date of determination, (a) the Unencumbered Lease Property Net Operating Income for the Four-Quarter Period ending on or immediately prior to such date of determination for such Unencumbered
Lease Property divided by (b) the applicable Capitalization Rate for such Unencumbered Lease Property. 

“Unencumbered Lease Property” means each Real Property that satisfies all of the following requirements: (a) such Real
Property is owned in fee simple solely by the Borrower or any of its Subsidiaries, (b) such Real Property is leased to another Person solely by the Borrower or any of its Subsidiaries, as lessor, pursuant to a long-term lease that is subject to
customary market terms and conditions at the time such lease is executed; (c) neither such Real Property, nor any interest of the Borrower or such Subsidiary therein, is subject to any Lien (except any Lien in favor of (i) the
Administrative Agent, for the benefit of the Guaranteed Parties, or (ii) a Loan Party (other than a Limited Guarantor)) or any negative pledge; (d) regardless of whether such Real Property is owned by the Borrower or a Subsidiary, the
Borrower has the right directly, or indirectly through a Subsidiary, to take the following actions without the need to obtain the consent of any Person (other than, if applicable with respect to any non-Wholly Owned Subsidiary, a holder of a
Minority Interest in such Subsidiary): (i) to create Liens on such Real Property as security for Indebtedness of the Borrower or such Subsidiary, as applicable, and (ii) to sell, transfer or otherwise dispose of such Real Property;
(e) the Borrower’s direct or indirect ownership interest in such Subsidiary, is not subject to any Lien or any negative pledge; (f) such Real Property is free of structural defects or major architectural deficiencies, title defects,
environmental conditions or other adverse matters which, individually or collectively, materially impair the value of such Property; (g) any lessee of more than a majority of the leasable space in such Real Property is not more than 90 days
past due with respect to any fixed rental payment obligations under any 

  
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lease for such Real Property; and (h) such Real Property has been designated by the Borrower as an “Unencumbered Lease Property” on Schedule 4.21(b) or on a Compliance
Certificate delivered by the Borrower to the Administrative Agent pursuant to Section 6.2. 
 “Unencumbered Lease
Property Expenses” means, with respect to the Borrower and its Subsidiaries, the cost (including, but not limited to, payroll, taxes, assessments, insurance, utilities, landscaping and other similar charges) of operating and maintaining any
Unencumbered Lease Property of the Borrower or any of its Subsidiaries that are the responsibility of such Person and not paid directly by the tenant of such property, but excluding depreciation, amortization, interest costs and maintenance capital
expenditures to the extent such property is under a triple-net lease. 
 “Unencumbered Lease Property Income” means, for
any period of determination with respect to the Borrower and its Subsidiaries calculated on a consolidated basis, without duplication, the cash rents (excluding, as an abundance of caution, non-cash straight-line rent) and other cash revenues
received by the Borrower or any of its Subsidiaries in the ordinary course of business attributable to any Unencumbered Lease Property of such Person, but excluding (a) security deposits and prepaid rent except to the extent applied in
satisfaction of any tenant’s obligations for rent and (b) rent or other cash revenues received by the Borrower or any of its Subsidiaries from any tenant that is the subject of a proceeding under any Debtor Relief Law; provided
that, for purposes of determining Unencumbered Lease Property Income for any period of determination that includes the fiscal quarter during which any Subsidiary is formed or acquired and for each of the three (3) fiscal quarters thereafter,
the determination of the amount of cash rents and other cash revenues attributable to any Unencumbered Lease Property of such Subsidiary shall be deemed to be the amount of: 

(i) for the four fiscal quarter period ending during the fiscal quarter during which such Subsidiary is formed or acquired, contract rents and
revenues attributable to any Unencumbered Lease Property of such Subsidiary times four (4); 
 (ii) for the four consecutive fiscal
quarter period ending the first fiscal quarter following the fiscal quarter during which such Subsidiary is formed or acquired, the amount of cash rents and other cash revenues attributable to any Unencumbered Lease Property of such Subsidiary for
such fiscal quarter times four (4); 
 (iii) for the four consecutive fiscal quarter period ending the second fiscal quarter
following the fiscal quarter during which such Subsidiary is formed or acquired, the amount of cash rents and other cash revenues attributable to any Unencumbered Lease Property of such Subsidiary for the preceding two consecutive fiscal quarters
times two (2); and 
 (iv) for the four consecutive fiscal quarter period ending the third fiscal quarter following the fiscal
quarter during which such Subsidiary is formed or acquired, the amount of cash rents and other revenues attributable to any Unencumbered Lease Property of such Subsidiary for the preceding three consecutive fiscal quarters times four-thirds
(4/3). 
 For purposes of this Agreement, Uncencumbered Lease Property Income shall be adjusted on a Pro Forma Basis. 

“Unencumbered Lease Property Net Operating Income” means, with respect to any Unencumbered Lease Property of the Borrower or
any of its Subsidiaries for any applicable period, (a) Unencumbered Lease Property Income for such period minus (b) Unencumbered Lease Property Expenses for such period. 

  
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 “Voting Power” means, with respect to any Person, the right to vote for the
election of the Governing Body of such Person under ordinary circumstances. 
 “Wells Fargo” means Wells Fargo Bank,
National Association, and its successors. 
 “Wells Fargo Securities” means Wells Fargo Securities, LLC, and its
successors. 
 “Wholly Owned” means, with respect to a Subsidiary, that all of the Equity Interests of such Subsidiary are,
directly or indirectly, owned or controlled by the Borrower and/or one or more of its Wholly Owned Subsidiaries. 
 SECTION 1.2 RULES OF
INTERPRETATION. 
 (a) Unless otherwise defined or specified herein, all accounting terms used herein shall be interpreted, all accounting
determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared, in accordance with GAAP as in effect from time to time, applied on a basis consistent (except for such changes approved by the
Administrative Agent in writing) with the Audited Financial Statements. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required
Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the
Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent and
the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such
change in GAAP. Without limiting the foregoing, leases shall continue to be classified and accounted for on a basis consistent with that reflected in the Audited Financial Statements for all purposes of this Agreement, notwithstanding any change in
GAAP relating thereto, unless the parties hereto shall enter into a mutually acceptable amendment addressing such changes, as provided for above. 

(b) Unless the context requires otherwise or such term is otherwise defined herein, each term defined in Articles 1, 8 or 9 of the UCC shall
have the meaning given therein. 
 (c) The headings, subheadings and table of contents used herein or in any other Loan Document are solely
for convenience of reference and shall not constitute a part of any such document or affect the meaning, construction or effect of any provision thereof. 

(d) Except as otherwise expressly provided, references in any Loan Document to articles, sections, paragraphs, clauses, annexes, appendices,
exhibits and schedules are references to articles, sections, paragraphs, clauses, annexes, appendices, exhibits and schedules in or to such Loan Document. 

(e) All definitions set forth herein or in any other Loan Document shall apply to the singular as well as the plural form of such defined
term, and all references to the masculine gender shall include reference to the feminine or neuter gender, and vice versa, as the context may require. 

(f) When used herein or in any other Loan Document, words such as “hereunder”, “hereto”, “hereof” and
“herein” and other words of like import shall, unless the context clearly indicates to the contrary, refer to the whole of the applicable document and not to any particular article, section, subsection, paragraph or clause thereof. 

  
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 (g) References to “including” means including without limiting the generality of any
description preceding such term, and such term shall not limit a general statement to matters similar to those specifically mentioned. 

(h) Except as otherwise expressly provided, all dates and times of day specified herein shall refer to such dates and times at Nashville,
Tennessee. 
 (i) Whenever interest rates or fees are established in whole or in part by reference to a numerical percentage expressed as
“    %”, such arithmetic expression shall be interpreted in accordance with the convention that 1% = 100 basis points. 

(j) Each of the parties to the Loan Documents and their counsel have reviewed and revised, or requested (or had the opportunity to request)
revisions to, the Loan Documents, and any rule of construction that ambiguities are to be resolved against the drafting party shall be inapplicable in the construing and interpretation of the Loan Documents and all exhibits, schedules and appendices
thereto. 
 (k) Any definition of or reference to any agreement, instrument or other document (including any organizational document) shall
be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other
Loan Document). 
 (l) Any financial ratios required to be maintained by Borrower pursuant to this Agreement shall be calculated by dividing
the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no
nearest number). 
 SECTION 1.3 CLASSIFICATION OF LOANS AND BORROWINGS. For purposes of this Agreement, Loans may be classified and referred
to by Class (e.g., a “Revolving Loan”, “Term A-1 Loan”, “Term A-2 Loan”, “Term A-4 Loan” or a “Swing Line Loan”) or by Type (e.g., a “Eurodollar Rate Loan” or a “Base
Rate Loan”) or by Class and Type (e.g., a “Eurodollar Revolving Loan”, “Eurodollar Term A-1 Loan”, “Eurodollar Term A-2 Loan”, “Eurodollar Term A-4 Loan”, “Base Rate Revolving Loan”,
“Base Rate Term A-1 Loan”, “Base Rate Term A-2 Loan” or “Base Rate Term A-4 Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing”, “Term A-1 Loan
Borrowing”, “Term A-2 Loan Borrowing”, “Term A-4 Loan Borrowing” or a “Swing Line Borrowing”) or by Type (e.g., a “Eurodollar Rate Borrowing” or a “Base Rate Borrowing”) or by Class and
Type (e.g., a “Eurodollar Revolving Borrowing”, “Eurodollar Term A-1 Loan Borrowing”, “Eurodollar Term A-2 Loan Borrowing”, “Eurodollar Term A-4 Loan Borrowing”, “Base Rate Revolving
Borrowing”, “Base Rate Term A-1 Loan Borrowing”, “Base Rate Term A-2 Loan Borrowing” or “Base Rate Term A-4 Loan Borrowing”). 

SECTION 1.4 ACCOUNTING FOR DERIVATIVES. In making any computation or determining any amount pursuant to Section 6.12 by reference
to any item appearing on the balance sheet or other financial statement of Borrower and its Subsidiaries, all adjustments to such computation or amount resulting from the application of FASB ASC Topic 815 shall be disregarded; provided that
any realized gain or loss shall be included in such computations. 

  
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 ARTICLE II 

CREDIT TERMS 

SECTION 2.1 COMMITMENTS. 
 (a)
Revolving Loans. Subject to the terms and conditions set forth herein, each Revolving Credit Lender severally agrees to make Revolving Loans to the Borrower from time to time during the Availability Period for the Revolving Credit Facility in
an aggregate principal amount that will not result in (i) such Revolving Credit Lender’s Revolving Credit Exposure exceeding such Revolving Credit Lender’s Revolving Credit Commitment or (ii) the sum of the total Revolving Credit
Exposures exceeding the Aggregate Revolving Credit Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans. 

(b) Term A-1 Loans. Subject to the terms and conditions set forth herein, each Term A-1 Loan Lender severally agrees to make a Term A-1
Loan to the Borrower on the Closing Date in an aggregate principal amount equal to such Term A-1 Loan Lender’s Term A-1 Loan Commitment. Notwithstanding the foregoing, if the total Term A-1 Loan Commitment as of the Closing Date is not drawn on
the Closing Date, the undrawn amount shall automatically be cancelled. 
 (c) Term A-2 Loans. Subject to the terms and conditions set
forth herein, each Term A-2 Loan Lender severally agrees to make a Term A-2 Loan to the Borrower on the Closing Date in an aggregate principal amount equal to such Term A-2 Loan Lender’s Term A-2 Loan Commitment. Notwithstanding the foregoing,
if the total Term A-2 Loan Commitment as of the Closing Date is not drawn on the Closing Date, the undrawn amount shall automatically be cancelled. 

(d) Term A-4 Loans. Subject to the terms and conditions set forth herein, each Term A-4 Loan Lender severally agrees to make a Term A-4
Loan to the Borrower on the Closing Date in an aggregate principal amount equal to such Term A-4 Loan Lender’s Term A-4 Loan Commitment. Notwithstanding the foregoing, if the total Term A-4 Loan Commitment as of the Closing Date is not drawn on
the Closing Date, the undrawn amount shall automatically be cancelled. 
 SECTION 2.2 LOANS AND BORROWINGS. 

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

(b) Subject to Section 2.13, each Borrowing (other than a Swing Line Loan) shall be comprised entirely of Base Rate Loans or
Eurodollar Rate Loans as the Borrower may request in accordance herewith. Each Swing Line Loan shall be a Base Rate Loan. 
 (c) At the
commencement of each Interest Period for any Eurodollar Rate Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $1,000,000. At the time that each Base Rate Borrowing (other than a
Swing Line Loan) is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $500,000; provided that a Base Rate Borrowing may be in an aggregate amount that is equal to the entire unused
balance of the Aggregate Revolving Credit Commitments or that is required to finance the reimbursement of a Letter of Credit drawing. 

  
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 (d) Each Swing Line Loan shall be in an amount that is an integral multiple of $25,000 and not
less than $50,000. 
 (e) Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall
not at any time be more than a total of ten (10) Eurodollar Rate Borrowings outstanding. 
 (f) Notwithstanding any other provision of
this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Revolving Credit Maturity Date with respect to Revolving
Loans, the Term A-1 Loan Credit Maturity Date with respect to Term A-1 Loans, the Term A-2 Loan Maturity Date with respect to Term A-2 Loans or the Term A-4 Loan Maturity Date with respect to Term A-4 Loans, as applicable. 

SECTION 2.3 REQUESTS FOR BORROWINGS. To request a Borrowing (other than a Swing Line Loan), the Borrower shall notify the Administrative Agent
of such request in writing (which may be via facsimile or email) (a) in the case of a Eurodollar Rate Borrowing, not later than 10:00 a.m., three Business Days before the date of the proposed Borrowing or (b) in the case of a Base Rate
Borrowing, not later than 10:00 a.m. on the date of the proposed Borrowing. Each such Borrowing Request shall be irrevocable, and shall, if in writing, be in substantially the form of Exhibit C attached hereto (or such other form as may be
approved by the Administrative Agent). Each such Borrowing Request shall specify the following information in compliance with Section 2.2: 

(a) the aggregate amount of the requested Borrowing; 

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

(c) whether such Borrowing is to be a Revolving Loan, a Term A-1 Loan, a Term A-2 Loan, a Term A-4 Loan or, if applicable, an Incremental Term
Loan; 
 (d) whether such Borrowing is to be a Base Rate or Eurodollar Rate Borrowing; 

(e) in the case of a Eurodollar Rate, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the
definition of the term “Interest Period”; and 
 (f) the location and number of the account to which funds are to be disbursed.

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

SECTION 2.4 SWING LINE LOANS. 

(a) As a convenience to the Borrower, the Swing Line Lender, in its sole discretion, may make Swing Line Loans to the Borrower from time to
time during the Availability Period for the Revolving Credit Facility, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swing Line Loans exceeding the Swing Line
Sublimit or (ii) the sum of the total Revolving Credit Exposures exceeding the Aggregate Revolving Credit Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Swing Line Lender may make and the
Borrower may borrow, prepay and reborrow Swing Line Loans. 

  
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 (b) Swing Line Loans shall be made available to the Borrower by means of a credit to a deposit
account of the Borrower with the Swing Line Lender pursuant to arrangements mutually acceptable to the Borrower and the Swing Line Lender. 

(c) The Swing Line Lender may by written notice given to the Administrative Agent not later than 10:00 a.m., on any Business Day require the
Lenders to acquire participations on such Business Day in all or a portion of the Swing Line Loans outstanding. Such notice shall specify the aggregate amount of Swing Line Loans in which Lenders will participate. Promptly upon receipt of such
notice, the Administrative Agent will give notice thereof to each Revolving Credit Lender, specifying in such notice such Revolving Credit Lender’s Revolving Credit Applicable Percentage of such Swing Line Loan or Loans. Each Revolving Credit
Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Administrative Agent, for the account of the Swing Line Lender, such Revolving Credit Lender’s Revolving Credit Applicable Percentage
of such Swing Line Loan or Loans. Each Revolving Credit Lender acknowledges and agrees that its obligation to acquire participations in Swing Line Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Revolving Credit Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction
whatsoever. Each Revolving Credit Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.6 with respect to Loans made by such Revolving
Credit Lender (and Section 2.6 shall apply, mutatis mutandis, to the payment obligations of the Revolving Credit Lenders), and the Administrative Agent shall promptly pay to the Swing Line Lender the amounts so received by it from the
Revolving Credit Lenders. The Administrative Agent shall notify the Borrower of any participations in any Swing Line Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swing Line Loan shall be made to the
Administrative Agent and not to the Swing Line Lender. Any amounts received by the Swing Line Lender from the Borrower (or other party on behalf of the Borrower) in respect of a Swing Line Loan after receipt by the Swing Line Lender of the proceeds
of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving Credit Lenders that shall have
made their payments pursuant to this paragraph and to the Swing Line Lender, as their interests may appear; provided that any such payment so remitted shall be repaid to the Swing Line Lender or to the Administrative Agent, as applicable, if
and to the extent such payment is required to be refunded to the Borrower for any reason. The purchase of participations in a Swing Line Loan pursuant to this paragraph shall not relieve the Borrower of any default in the payment thereof. 

(d) Notwithstanding anything to the contrary contained in this Agreement, this Section 2.4 shall be subject to the terms and
conditions of Section 2.19 and Section 2.20. 
 SECTION 2.5 LETTERS OF CREDIT. 

(a) Subject to the terms and conditions set forth herein, the Borrower may request the issuance of Letters of Credit for its own account or
the account of any Subsidiary, in a form reasonably acceptable to the Administrative Agent and the Issuing Bank (in a minimum amount of $25,000 unless otherwise approved by the Issuing Bank), at any time and from time to time during the Availability
Period for the Revolving Credit Facility; provided that the Issuing Bank shall not be required to issue or extend any Letter of Credit if (i) an Event of Default has occurred and is continuing, (ii) any Revolving Credit Lender with
a Revolving Credit Commitment is a Defaulting Lender, (iii) any Person that Controls 

  
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such Revolving Credit Lender or its holding company has been deemed insolvent or become the subject of a bankruptcy, insolvency, receivership or similar proceeding or (iv) any Revolving
Credit Lender or any such Person is believed in good faith by the Issuing Bank to have defaulted in fulfilling its obligations under one or more other syndicated credit facilities. In the event of any inconsistency between the terms and conditions
of this Agreement and the terms and conditions of any Letter of Credit Agreement, the terms and conditions of this Agreement shall control. 

(b) To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower
shall hand deliver or send via facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and the Administrative Agent (at least by 10:00 a.m. three Business Days in
advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance,
amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the
beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank, the Borrower also shall submit a Letter of Credit Agreement in connection with any
request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if, and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that, after
giving effect to such issuance, amendment, renewal or extension (i) the Letter of Credit Exposure shall not exceed the Letter of Credit Sublimit and (ii) the sum of the total Revolving Credit Exposures shall not exceed the Aggregate
Revolving Credit Commitments. 
 (c) Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the
date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension exclusive of evergreen renewal provisions) and (ii) the date that is five
(5) Business Days prior to the Revolving Credit Maturity Date (unless, in the case of this clause (ii), the Borrower makes arrangements satisfactory to the Issuing Bank to Cash Collateralize (which shall be composed solely of cash) such Letter
of Credit on or before the date that is five (5) Business Days prior to the Revolving Credit Maturity Date); provided, however, that in no event shall any Letter of Credit expire more than one year after the date of issuance of
such Letter of Credit. 
 (d) By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof)
and without any further action on the part of the Issuing Bank or the Revolving Credit Lenders, the Issuing Bank hereby grants to each Revolving Credit Lender, and each Revolving Credit Lender hereby acquires from the Issuing Bank, a participation
in such Letter of Credit equal to such Revolving Credit Lender’s Revolving Credit Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each
Revolving Credit Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such Revolving Credit Lender’s Revolving Credit Applicable Percentage of each drawing of each Letter
of Credit not reimbursed by the Borrower on the date due as provided in paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason. Each Revolving Credit Lender acknowledges and agrees
that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any
Letter of Credit or the occurrence and continuance of a Default or Event of Default or reduction or termination of the Revolving Credit Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction
whatsoever. 

  
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 (e) If the Issuing Bank shall make any payment in respect of a drawing under a Letter of Credit,
the Borrower shall reimburse such payment by paying to the Administrative Agent an amount equal to such payment not later than 1:30 p.m. on the date of such payment if the Borrower shall have received notice of such drawing prior to 10:00 a.m. on
such date, or, if such notice has not been received by the Borrower prior to such time on such date, then not later than 1:30 p.m. on the Business Day immediately following the day that the Borrower receives such notice (together with interest
thereon at the rate applicable to Base Rate Revolving Loans hereunder). If the Borrower fails to make such payment when due, the Administrative Agent shall notify each Revolving Credit Lender of the applicable drawing, the payment then due from the
Borrower in respect thereof and such Revolving Credit Lender’s Revolving Credit Applicable Percentage thereof. Promptly following receipt of such notice, each Revolving Credit Lender shall pay to the Administrative Agent its Revolving Credit
Applicable Percentage of the payment then due from the Borrower, in the same manner as provided in Section 2.6 with respect to Loans made by such Revolving Credit Lender (and Section 2.6 shall apply, mutatis mutandis, to the
payment obligations of the Revolving Credit Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts so received by it from the Revolving Credit Lenders. Promptly following receipt by the Administrative Agent of any
payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that the Revolving Credit Lenders have made payments pursuant to this paragraph to reimburse the
Issuing Bank, then to such Revolving Credit Lenders and the Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse the Issuing Bank shall not constitute a Loan and shall not relieve the
Borrower of its obligation to reimburse such payment. 
 (f) The Borrower’s obligation to reimburse Letter of Credit drawings as
provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of
(i) any lack of validity or enforceability of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any
respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of
Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff against,
the Borrower’s obligations hereunder. Neither the Administrative Agent, the Revolving Credit Lenders nor the Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility by reason of or in connection with the
issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in
transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising
from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed to excuse the Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims
in respect of which are hereby waived by the Borrower to the extent permitted by Applicable Law) suffered by the Borrower that are caused by the Issuing Bank’s failure to exercise care when determining whether drafts and other documents
presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent
jurisdiction), the Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear
on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any
notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit. 

  
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 (g) The Issuing Bank shall, promptly following its receipt thereof, examine all documents
purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative Agent and the Borrower by telephone (confirmed by facsimile) of such demand for payment and whether the Issuing Bank has
made or will make a payment thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the Revolving Credit Lenders with respect to any such
payment. 
 (h) If the Issuing Bank shall make any payment under a Letter of Credit then, unless the Borrower shall reimburse such payment
in accordance with paragraph (e) of this Section, the unpaid amount thereof shall bear interest, for each day from and including the date such payment is made to but excluding the date that the Borrower reimburses such payment, at the rate per
annum then applicable to Base Rate Revolving Loans; provided that, if the Borrower fails to reimburse such payment on the Business Day after the date when due pursuant to paragraph (e) of this Section, then the Default Rate shall apply.
Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Credit Lender pursuant to paragraph (e) of this Section to reimburse the
Issuing Bank shall be for the account of such Revolving Credit Lender to the extent of such payment. 
 (i) If any Event of Default shall
occur and be continuing, on the Business Day that the Borrower receives notice from the Administrative Agent or the Required Revolving Credit Lenders demanding the deposit of Cash Collateral pursuant to this paragraph, the Borrower shall Cash
Collateralize, an amount in cash equal to the Letter of Credit Exposure as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such Cash Collateral shall become effective immediately, and such
deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in clause (g) or (h) of Section 8.1. 

(j) Any deposits used to Cash Collateralize Letter of Credit Exposure pursuant to paragraph (i) of this Section shall be held by the
Administrative Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement or, in the case of Cash Collateral deposited at the termination of this Agreement or pursuant to paragraph (c) of this
Section, in an account with the Issuing Bank for its own account. The Administrative Agent or Issuing Bank, as the case may be, shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account. Other than any
interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent or Issuing Bank, as the case may be, and at the Borrower’s risk and expense, such deposits shall
not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in any such account maintained by the Administrative Agent shall be applied by the Administrative Agent to reimburse the Issuing Bank for
unreimbursed Letter of Credit drawings and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the Letter of Credit Exposure at such time or, if the maturity of the Loans has been
accelerated (but subject to the consent of the Required Revolving Credit Lenders), be applied to satisfy other obligations of the Borrower under this Agreement. The balance, if any, in any such Cash Collateral account deposited by the Borrower
pursuant to paragraph (i) of this Section shall be returned to the Borrower: (i) following a determination by the Administrative Agent or the Required Revolving Credit Lenders (each in their sole discretion) that an Event of Default no
longer exists or (ii) if the maturity of the Loans has been accelerated, all Letters of Credit shall have expired or been fully drawn upon, all Letter of Credit Exposure shall have been reimbursed and all other Obligations shall have been paid
in full. 

  
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 SECTION 2.6 FUNDING OF BORROWINGS. Each Lender shall make each Loan to be made by it hereunder on
the proposed date thereof by wire transfer of immediately available funds by 1:00 p.m., to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders; provided that Swing Line Loans shall
be made as provided in Section 2.4. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account maintained with the Administrative Agent and
designated by the Borrower in the applicable Borrowing Request; provided that Revolving Loans made to finance the reimbursement of a drawing under a Letter of Credit shall be remitted by the Administrative Agent to the Issuing Bank. 

SECTION 2.7 INTEREST ELECTIONS. 

(a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Rate
Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Rate Borrowing,
may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders
holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swing Line Borrowings, which may not be converted or continued. 

(b) To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election in writing by the time
that a Borrowing Request would be required under Section 2.3 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. 

(c) Each Interest Election Request shall specify the following information in compliance with Section 2.3: 

(i) the Borrowing to which such Interest Election Request applies (including if such Borrowing is a Revolving Loan, a Term A-1 Loan, a Term
A-2 Loan, a Term A-4 Loan or, if applicable, an Incremental Term Loan) and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the
information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing), each of which shall be subject to the requirements set forth in Section 2.2(c) regarding minimum and
multiple amounts applicable to the continuation and conversion of Borrowings; 
 (ii) the effective date of the election made pursuant to
such Interest Election Request, which shall be a Business Day; 
 (iii) whether the resulting Borrowing is to be a Base Rate Borrowing or a
Eurodollar Rate Borrowing; and 
 (iv) if the resulting Borrowing is a Eurodollar Rate Borrowing, the Interest Period to be applicable
thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 
 If any such
Interest Election Request requests a Eurodollar Rate Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. 

  
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 (d) Promptly following receipt of an Interest Election Request, the Administrative Agent shall
advise each Appropriate Lender of the details thereof and of such Appropriate Lender’s portion of each resulting Borrowing. 
 (e) If
the Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Rate Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such
Interest Period such Borrowing shall be converted to a Base Rate Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so
notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Eurodollar Rate Borrowing and (ii) unless repaid, each Eurodollar Rate Borrowing shall be
converted to a Base Rate Borrowing at the end of the Interest Period applicable thereto. 
 SECTION 2.8 TERMINATION AND REDUCTION OF
REVOLVING CREDIT COMMITMENTS. 
 (a) Unless previously terminated, the Revolving Credit Commitments shall terminate on the Revolving Credit
Maturity Date. 
 (b) The Borrower may at any time terminate, or from time to time reduce, the Revolving Credit Commitments; provided
that (A) each reduction of the Revolving Credit Commitments shall be in an amount that is an integral multiple of $500,000 and not less than $1,000,000 and (B) the Borrower shall not terminate or reduce the Revolving Credit Commitments if,
after giving effect to any concurrent prepayment of the Revolving Loans in accordance with Section 2.10, the sum of the Revolving Credit Exposures would exceed the Aggregate Revolving Credit Commitments. 

(c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Revolving Credit Commitments under paragraph
(b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall
advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable. Any such termination or reduction shall be permanent and shall be made ratably among the Revolving Credit Lenders in
accordance with their respective Revolving Credit Commitments thereto. 
 SECTION 2.9 REPAYMENT OF LOANS; EVIDENCE OF DEBT. 

(a) The Borrower unconditionally promises to pay to the Administrative Agent for the account of each Appropriate Lender the then unpaid
principal amount of each (i) Revolving Loan on the Revolving Credit Maturity Date, (ii) Term A-1 Loan on the Term A-1 Loan Maturity Date, (iii) Term A-2 Loan on the Term A-2 Loan Maturity Date and (iv) Term A-4 Loan on the Term
A-4 Loan Maturity Date. In addition, the Borrower unconditionally promises to pay to the Swing Line Lender the then unpaid principal amount of each Swing Line Loan on the earliest to occur of (i) the Swing Line Lender’s demand therefore,
(ii) the date ten (10) days after such Swing Line Loan is made and (iii) the Revolving Credit Maturity Date. 
 (b) Each
Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and
paid to such Lender from time to time hereunder. 

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

(d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of
the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to
repay the Loans in accordance with the terms of this Agreement. 
 (e) Any Lender may request that Loans made by it be evidenced by a
promissory note having terms consistent with this Agreement. In such event, the Borrower shall prepare, execute and deliver to such Lender promissory note(s) payable to the order of such Lender (or, if requested by such Lender, to such Lender and
its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note(s) and interest thereon shall at all times (including after assignment pursuant to Section 10.5) be
represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if any promissory note is a registered note, to such payee and its registered assigns). 

SECTION 2.10 PREPAYMENT OF LOANS. 

(a) Optional. 
 (i)
Subject to Section 2.10(c) and the last sentence of paragraph (ii) of this Section 2.10(a), the Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, without penalty
or premium (other than break funding payments pursuant to Section 3.3); provided that prior notice of such prepayment is received by the Administrative Agent (and, in the case of prepayment of a Swing Line Loan, the Swing Line
Lender) in accordance with paragraph (ii) of this Section 2.10(a). 
 (ii) The Borrower shall notify the Administrative
Agent (and, in the case of prepayment of a Swing Line Loan, the Swing Line Lender) in writing of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Rate Borrowing, not later than 10:00 a.m., three Business Days before the
date of prepayment, (ii) in the case of prepayment of a Base Rate Borrowing, not later than 10:00 a.m., on the date of prepayment or (iii) in the case of prepayment of a Swing Line Loan, not later than 11:00 a.m., on the date of
prepayment. Each such notice shall be irrevocable, shall specify the prepayment date and the principal amount of such prepayment, whether the prepayment is of a Eurodollar Rate Loan or a Base Rate Loan or combination thereof, and if a combination
thereof, the amount allocable to each and whether the prepayment is of the Term A-1 Loan, the Term A-2 Loan, the Term A-4 Loan, an Incremental Term Loan, or a combination thereof, and if a combination thereof, the amount allocable to each, and, in
the case of any written notice or confirmation, shall be signed by the Borrower in substantially the form of Exhibit E attached hereto or such other form as may be approved by the Administrative Agent. Promptly following receipt of any
such notice relating to a Borrowing, the Administrative Agent shall advise the Appropriate Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a
Borrowing of the same Type as provided in Section 2.2. Each prepayment of a Borrowing shall be applied ratably to the applicable Loans (in respect of each Facility) included in the prepaid Borrowing. Prepayments shall be accompanied by
accrued interest to the extent required by Section 2.12. 

  
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 (b) Mandatory. If for any reason the Revolving Credit Exposure of all of the Lenders at
any time exceeds the Aggregate Revolving Credit Commitments then in effect, the Borrower shall immediately prepay Revolving Loans and/or Cash Collateralize Letter of Credit Exposure in an aggregate amount equal to such excess; provided that
the Borrower shall not be required to Cash Collateralize Letter of Credit Exposure pursuant to this Section 2.10(b) unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Revolving Credit Exposure of all of
the Lenders exceeds the Aggregate Revolving Credit Commitments then in effect. 
 (c) Call Premium. If the Borrower makes a voluntary
prepayment of any Term Loan pursuant to this Section 2.10, the Borrower shall pay to the Administrative Agent, for the ratable account of the applicable Term Loan Lenders, a fee in an amount equal to: 

(i) 3% of the principal amount of the applicable Term Loan so prepaid in the case of a voluntary prepayment made on or prior to
June 28, 2014; 
 (ii) 2% of the principal amount of the applicable Term Loan so prepaid in the case of a voluntary
prepayment made on or prior to June 28, 2015; and 
 (iii) 1% of the principal amount of the applicable Term Loan so
prepaid in the case of a voluntary prepayment made on or prior to June 28, 2016. 
 SECTION 2.11 FEES. 

(a) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Revolving
Credit Applicable Percentage, a non-refundable commitment fee (the “Commitment Fee(s)”) equal to (i) the Applicable Rate times (ii) the actual daily amount by which the Aggregate Revolving Credit Commitments exceed
the sum of (A) the outstanding principal amount of all Revolving Loans (for the avoidance of doubt, not including Swing Line Loans) and (B) all Letter of Credit Exposure; provided that, if such Revolving Credit Lender continues to
have any outstanding Letter of Credit Exposure after its Revolving Credit Commitment terminates (other than Letter of Credit Exposure that is fully Cash Collateralized), then the Commitment Fee shall continue to accrue on the daily amount of such
Revolving Credit Lender’s outstanding Letter of Credit Exposure from and including the date on which its Revolving Credit Commitment terminates to but excluding the date on which such Revolving Credit Lender ceases to have any outstanding
Letter of Credit Exposure (other than Letter of Credit Exposure that is fully Cash Collateralized). Accrued Commitment Fees shall be payable in arrears on the last Business Day of March, June, September and December of each year and on the date on
which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof; provided that any Commitment Fees accruing after the date on which the Revolving Credit Commitments terminate shall be payable
on demand. All Commitment Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

(b) The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Credit Lender a participation fee with
respect to its participations in Letters of Credit (the “Letter of Credit Fee”), which Letter of Credit Fee shall accrue at the same Applicable Rate used to determine the interest rate applicable to Eurodollar Rate Loans on the
average daily amount of such Revolving Credit Lender’s Letter of Credit Exposure during the period from and including the Closing Date to but excluding the later of the date on which such Lender’s Revolving Credit Commitment terminates and
the date on which such Revolving Credit Lender ceases to have any Letter of Credit Exposure, and (ii) to the Issuing Bank with respect to each Letter of Credit, a fronting fee of 0.125% of the maximum amount of Letter of Credit Exposure under
such Letter of Credit, as well as the Issuing 

  
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Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Letter of Credit Fees accrued shall be
payable on the last Business Day of March, June, September and December of each year, commencing on the first such date to occur after the Closing Date; provided that all such fees shall be payable on the date on which the Revolving Credit
Commitments terminate and any such fees accruing after the date on which the Revolving Credit Commitments terminate shall be payable on demand. Fronting fees shall be paid on the date of the issuance, amendment (if the maximum amount of Letter of
Credit Exposure is increased by such amendment), renewal or extension of the applicable Letter of Credit. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable on demand. All Letter of Credit Fees shall be computed
on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Notwithstanding anything to the contrary contained herein, upon the request of the Required Revolving
Credit Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at a rate equal to the Applicable Rate plus 2.0% per annum. 

(c) On the Closing Date, the Borrower agrees to pay to the Administrative Agent and Wells Fargo Securities, in each case as applicable, such
fees as shall have been separately agreed upon in writing in the amounts and at the times so specified. 
 (d) All fees payable hereunder
shall be paid on the dates due, in immediately available funds, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of facility fees and participation fees, to the Lenders. Fees paid
shall not be refundable under any circumstances. 
 SECTION 2.12 INTEREST. 

(a) The Loans comprising each Base Rate Borrowing (including each Swing Line Loan) shall bear interest at the Base Rate plus the
Applicable Rate. 
 (b) The Loans comprising each Eurodollar Rate Borrowing shall bear interest at the Eurodollar Rate for the Interest
Period in effect for such Borrowing plus the Applicable Rate. 
 (c) Accrued interest on each Loan shall be payable in arrears on
each Interest Payment Date for such Loan and, in the case of Revolving Loans, upon termination of the Revolving Credit Commitments; provided that (i) in the event of any repayment or prepayment of any Loan (other than a prepayment of a
Base Rate Revolving Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (ii) in the event of any conversion of any
Eurodollar Rate Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 

(d) Notwithstanding the foregoing (i) immediately upon the occurrence and during the continuance of an Event of Default under
Section 8.1(a), (g) or (h), or (ii) at the election of the Required Lenders, upon the occurrence and during the continuance of any other Event of Default, (A) all outstanding Eurodollar Rate Loans shall bear
interest at a rate per annum of two percent (2%) in excess of the rate (including the Applicable Rate) then applicable to Eurodollar Rate Loans until the end of the applicable Interest Period and thereafter at a rate equal to two percent
(2%) in excess of the rate (including the Applicable Rate) then applicable to Base Rate Loans, (B) all outstanding Base Rate Loans and other Obligations arising hereunder or under any other Loan Document shall bear interest at a rate per
annum equal to two percent (2%) in excess of the rate (including the Applicable Rate) then applicable to Base Rate Loans or such other Obligations arising hereunder or under any other Loan Document and (C) all accrued and unpaid interest
shall be due and payable on demand of the Administrative Agent (collectively, the “Default Rate”). Interest shall continue to accrue on the Obligations after the filing by or against the Borrower of any petition seeking any relief
in bankruptcy or under any Debtor Relief Law. 

  
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 (e) Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day
of each calendar quarter commencing March 31, 2014; and interest on each Eurodollar Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto, and if such Interest Period extends over three (3) months,
at the end of each three (3) month interval during such Interest Period (the “Interest Payment Date”). All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the
basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or
interest, as applicable, being paid than if computed on the basis of a 365/366-day year). 
 (f) If, as a result of any restatement of or
other adjustment to the financial statements of the Borrower or for any other reason (other than solely as a result of a Change in Law or change in GAAP that occurs after the date of the delivery of the applicable Compliance Certificate and is
applied retroactively), the Borrower or the Lenders determine that (i) the Consolidated Total Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Consolidated Total
Leverage Ratio would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the applicable Lenders or the Issuing Bank, as the case may be,
promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, automatically and without further action by the
Administrative Agent, any Lender or the Issuing Bank), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph
shall not limit the rights of the Administrative Agent, any Lender or the Issuing Bank, as the case may be, otherwise available hereunder, including, without limitation, rights under Section 2.12(c) and Article VIII. The
Borrower’s obligations under this paragraph shall survive the termination of the Commitments and the repayment of all other Obligations hereunder. 

SECTION 2.13 ALTERNATE RATE OF INTEREST. If prior to the commencement of any Interest Period for a Eurodollar Rate Borrowing: 

(a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do
not exist for ascertaining Eurodollar Rate for such Interest Period; or 
 (b) the Administrative Agent is advised by the Required Lenders
that the Eurodollar Rate for such Interest Period does not and will not adequately and fairly reflect the cost to such Lenders of making or maintaining Loans included in such Borrowing for such Interest Period; 

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or facsimile as promptly as practicable thereafter and,
until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any
Borrowing as, a Eurodollar Rate Borrowing shall be ineffective, and (ii) if any Borrowing Request requests a Eurodollar Rate Borrowing, such Borrowing shall be made as a Base Rate Borrowing. 

SECTION 2.14 GUARANTIES. All Obligations of the Borrower to the Administrative Agent or any Guaranteed Party shall be Guaranteed jointly and
severally by each Subsidiary of the Borrower (other than any Excluded Subsidiaries), as evidenced by and subject to the terms of guaranties 

  
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in form and substance satisfactory to the Administrative Agent; provided that non-Wholly Owned Subsidiaries of the Borrower may be Limited Guarantors subject to compliance with
Section 6.13(a)(i). To the extent that any Subsidiary is designated as an Excluded Subsidiary in accordance with the definition of Excluded Subsidiary or the release of a Subsidiary is otherwise approved by the Required Lenders in
accordance with Section 10.1, the Administrative Agent is authorized to execute and, promptly upon such designation or approval shall, at the Borrower’s cost and expense, execute and deliver a release of such Subsidiary from the
Subsidiary Guaranty Agreement or the Limited Guaranty Agreement, as applicable, on behalf of the Guaranteed Parties. 
 SECTION 2.15
PAYMENTS GENERALLY; ADMINISTRATIVE AGENT’S CLAWBACK. 
 (a) Payments Generally. Except as otherwise expressly provided herein,
all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at its Payment Office in Dollars and in immediately available funds not later than 11:00 a.m.
on the date specified herein without setoff or counterclaim. The Administrative Agent will promptly distribute to each Appropriate Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in respect of the
applicable Facility in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 11:00 a.m. shall be deemed received on the next succeeding Business Day and any applicable
interest or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in
computing interest or fees, as the case may be. 
 (b) Funding by the Lenders; Presumption by the Administrative Agent. Unless the
Administrative Agent shall have received notice from an Appropriate Lender prior to the proposed date of any borrowing hereunder that such Appropriate Lender will not make available to the Administrative Agent such Appropriate Lender’s share of
such borrowing, the Administrative Agent may assume that such Appropriate Lender has made such share available on such date in accordance with Section 2.6 and may, in reliance upon such assumption, make available to the Borrower a
corresponding amount. In such event, if an Appropriate Lender has not in fact made its share of the applicable borrowing available to the Administrative Agent, then the applicable Appropriate Lender and the Borrower severally agree to pay to the
Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at
(i) in the case of a payment to be made by such Appropriate Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry practice on interbank compensation and (ii) in
the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans. If the Borrower and such Appropriate Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the
Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Appropriate Lender pays its share of the applicable borrowing to the Administrative Agent, then the amount so paid
shall constitute such Appropriate Lender’s Loan included in such borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against an Appropriate Lender that shall have failed to make such payment to
the Administrative Agent. 
 (c) Payments by the Borrower; Presumptions by the Administrative Agent. Unless the Administrative Agent
shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Appropriate Lenders or the Issuing Bank hereunder that the Borrower will not make such payment, the
Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon 

  
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such assumption, distribute to the Appropriate Lenders or the Issuing Bank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the
Appropriate Lenders or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Appropriate Lender or the Issuing Bank, with interest thereon, for each day from
and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry
practice on interbank compensation. 
 (d) Obligations of Lenders Several. The obligations of the Appropriate Lenders hereunder to
make Loans, to fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to Section 10.4(c) are several and not joint. The failure of any Appropriate Lender to make any Loan, to fund any such
participation or to make any payment under Section 10.4(c) on any date required hereunder shall not relieve any other Appropriate Lender of its corresponding obligation to do so on such date, and no Appropriate Lender shall be
responsible for the failure of any other Appropriate Lender to so make its Loan, to purchase its participation or to make its payment under Section 10.4(c). 

SECTION 2.16 SHARING OF PAYMENT BY LENDERS. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain
payment in respect of any principal of or interest on any of its Loans or other obligations hereunder resulting in such Lender’s receiving payment of a proportion of the aggregate amount of its Loans and accrued interest thereon or other such
obligations greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in
the Loans and such other obligations of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of
and accrued interest on their respective Loans and other amounts owing them; provided that: 
 (i) if any such participations are
purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

(ii) the provisions of this paragraph shall not be construed to apply to (x) any payment made by the Borrower pursuant to and in
accordance with the express terms of this Agreement or (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in drawings made under any Letter of Credit to
any assignee or participant, other than to the Borrower or any Subsidiary (as to which the provisions of this paragraph shall apply). 
 The
Borrower consents to the foregoing and agrees, to the extent it may effectively do so under Applicable Law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and
counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation. 

  
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 SECTION 2.17 INCREASE IN COMMITMENTS. 

(a) Request for Increase. Provided there exists no Default, upon notice to the Administrative Agent, the Borrower may from time to time
during the period of four (4) years following the Closing Date request: 
 (i) one or more increases in the Aggregate Revolving Credit
Commitments (any such increased commitment, an “Incremental Revolving Credit Commitment”) to make incremental revolving credit loans (any such increase, an “Incremental Revolving Credit Increase”); or 

(ii) one or more incremental term loan commitments (any such incremental term loan commitment, an “Incremental Term Loan
Commitment” and, together with the Incremental Revolving Credit Commitments, the “Incremental Loan Commitments”) to make incremental term loans under the Term Loan Facilities (any such incremental term loan, an
“Incremental Term Loan”); 
 provided that: (A) the aggregate amount of all Incremental Loan Commitments shall not (as of any
date of incurrence thereof) exceed $130,000,000; (B) each Incremental Revolving Credit Commitment shall be in a principal amount of not less than $25,000,000; (C) each Incremental Term Loan Commitment (and the Incremental Term Loans made
thereunder) shall be in a principal amount not less than $10,000,000; and (D) the Borrower may make in the aggregate a maximum of three (3) requests for Incremental Loan Commitments (provided that at the time of sending such notice,
the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each Appropriate Lender is requested to respond). 

(b) Lender Elections to Increase. Each Appropriate Lender requested by the Borrower to increase its Commitment under the applicable
Facility shall notify the Administrative Agent within the time period specified by the Borrower (which shall be a period acceptable to the Administrative Agent) whether or not it agrees to increase its Commitment under the applicable Facility and,
if so, whether by an amount equal to, greater than, or less than its Applicable Percentage in respect of the applicable Facility of such requested increase. Any Lender not responding within such time period shall be deemed to have declined to
increase its Commitment under the applicable Facility. 
 (c) Notification by Administrative Agent; Additional Lenders. The
Administrative Agent shall notify the Borrower of the Lenders’ responses to each request made hereunder. Whether or not necessary to achieve the full amount of a requested increase and subject to the approval of the Administrative Agent (and,
solely with respect to an Incremental Revolving Credit Increase, the Issuing Bank and the Swing Line Lender (which approvals shall not be unreasonably withheld)), the Borrower may also invite additional Eligible Assignees to become Lenders under the
applicable Facility pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel. 
 (d)
Effective Date and Allocations. The Administrative Agent and the Borrower shall determine the effective date (each, an “Increase Effective Date”) and the final allocation of each Incremental Revolving Credit Increase or
Incremental Term Loan, as applicable. The Administrative Agent shall promptly notify the Borrower and the Appropriate Lenders of the final allocation of the Incremental Revolving Credit Increase or the Incremental Term Loan, as applicable, and the
Increase Effective Date. 
 (e) Conditions to Effectiveness of Increase. As a condition precedent to such increase, the Borrower
shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party: 

(i) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase; and 

(ii) in the case of the Borrower, certifying that, before and after giving effect to such increase and any Loans made concurrently therewith:

 (A) the representations and warranties contained in Article IV and the other Loan Documents are true in all
material respects on and as of the Increase Effective Date, except (1) that if a qualifier relating to materiality, Material Adverse Effect or a similar concept applies, such representation or warranty is true in all respects, (2) to the
extent that such representations and warranties specifically refer to an earlier date, in which case they are true in all material respects as of such earlier date (unless a qualifier relating to materiality, Material Adverse Effect or a similar
concept applies, in which case such representation or warranty is true in all respects), and (3) that for purposes of this Section 2.17 the representations and warranties contained in Section 4.5(a) shall be deemed to
refer to the most recent statements furnished pursuant to Section 6.1(a) and (b), respectively; 

  
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 (B) the Borrower is in compliance, calculated on a Pro Forma Basis, with the
financial covenants contained in Section 6.12 hereof; 
 (C) no Default exists; 

(D) except to the extent otherwise provided in this Section 2.17, each such Incremental Term Loan and Incremental
Revolving Credit Increase shall be on identical terms and conditions as applicable to the existing relevant Facility; provided that (A) the Applicable Rate with respect to such increase may differ from the Applicable Rate prior to giving
effect to such increase and (B) an upfront fee may be paid to any Lender or Eligible Assignee (each, an “Incremental Lender”) agreeing to provide an Incremental Term Loan or an Incremental Revolving Credit Increase, as
applicable; 
 (E) in the case of an Incremental Term Loan: 

(1) such Incremental Term Loan will mature no earlier than the latest maturity date of the Initial Term Loans; and 

(2) any Incremental Lender making any Incremental Term Loan shall be entitled to the same voting rights as the existing Term
Loan Lenders under the Initial Term Loans and each Incremental Term Loan shall receive proceeds of prepayments in accordance with Section 2.10; 

(F) in the case of an Incremental Revolving Credit Increase: 

(1) each Revolving Credit Lender increasing its Revolving Credit Commitment pursuant to this Section 2.17 shall
make available to the Administrative Agent on the Increase Effective Date such amounts in immediately available funds as the Administrative Agent shall determine, for the benefit of the other Revolving Credit Lenders, to be required in order to keep
the outstanding Revolving Loans ratable with any revised Revolving Credit Applicable Percentages in respect of the Revolving Credit Facility arising from any nonratable increase in the Revolving Credit Commitments under this Section; 

(2) to the extent that any Revolving Credit Lender’s Revolving Loans are reduced as a result of the increase in the
Revolving Credit Commitments, the Borrower shall be deemed to have repaid and reborrowed all such Revolving Loans outstanding on the Increase Effective Date (and pay any additional amounts required pursuant to Section 3.3); and 

  
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 (3) any Incremental Lender with an Incremental Revolving Credit Increase shall
be entitled to the same voting rights as the existing Revolving Credit Lenders under the Revolving Credit Facility and any Borrowings made in connection with each Incremental Revolving Credit Increase shall receive proceeds of prepayments on the
same basis as the other Revolving Loans made hereunder. 
 (f) The Incremental Term Loans shall be deemed to be Term Loans; provided
that each such Incremental Term Loan shall be designated as a separate tranche of the Term Loans for all purposes of this Agreement. 
 (g)
On any Increase Effective Date on which any Incremental Term Loan Commitment becomes effective, subject to the foregoing terms and conditions, each Incremental Lender with an Incremental Term Loan Commitment shall make, or be obligated to make, an
Incremental Term Loan to the Borrower in an amount equal to its Incremental Term Loan Commitment and shall become a Term Loan Lender hereunder with respect to such Incremental Term Loan Commitment and the Incremental Term Loan made pursuant thereto.

 (h) On any Increase Effective Date on which any Incremental Revolving Credit Increase becomes effective, subject to the foregoing terms
and conditions, each Incremental Lender with an Incremental Revolving Credit Commitment shall become a Revolving Credit Lender hereunder with respect to such Incremental Revolving Credit Commitment. 

(i) The Incremental Lenders shall be included in any determination of the Required Lenders or Required Revolving Credit Lenders, as
applicable, and the Incremental Lenders will not constitute a separate voting class for any purposes under this Agreement. 
 (j) Each party
hereto hereby irrevocably authorizes the Administrative Agent on its behalf, and without further consent, to enter into amendments or modifications to this Agreement or any of the other Loan Documents or to enter into additional Loan Documents that
are reasonably necessary or appropriate in order to effectuate any Incremental Term Loan and any Incremental Revolving Credit Increase on the applicable Increase Effective Date. 

(k) Conflicting Provisions. This Section 2.17 shall supersede any provisions in Section 2.16 or 10.1 to
the contrary. 
 SECTION 2.18 EXTENSION OF THE REVOLVING CREDIT MATURITY DATE. The Borrower shall have the right, exercisable one time, to
extend the date set forth in clause (a) of the definition of “Revolving Credit Maturity Date” by one year. The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least 30 days but not more
than 90 days prior to the date set forth in clause (a) of the definition of “Revolving Credit Maturity Date”, a written request for such extension (an “Extension Request”). The Administrative Agent shall notify the
Revolving Credit Lenders if it receives an Extension Request promptly upon receipt thereof. Subject to satisfaction of the following conditions, the date set forth in clause (a) of the definition of “Revolving Credit Maturity Date”
shall be extended for one year: 
 (a) the receipt by the Administrative Agent of the Extension Request; 

  
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 (b) the receipt by the Administrative Agent, for the account of each Revolving Credit Lender, a
fee equal to 0.1% of the amount of such Revolving Credit Lender’s Revolving Credit Commitment (whether or not utilized); 
 (c) the
receipt by the Administrative Agent of a certificate of each Loan Party dated as of the effective date of the Extension Request (in sufficient copies for each Revolving Credit Lender) signed by a Responsible Officer of such Loan Party:
(i) certifying that, immediately prior to such extension and immediately after giving effect thereto, (A) no Default or Event of Default shall exist and (B) the representations and warranties contained in Article IV and the
other Loan Documents are true in all material respects on and as of the effective date of the Extension Request, except (1) that if a qualifier relating to materiality, Material Adverse Effect or a similar concept applies, such representation
or warranty is true in all respects and (2) to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true in all material respects as of such earlier date (unless a qualifier relating
to materiality, Material Adverse Effect or a similar concept applies, in which case such representation or warranty is true in all respects) and (ii) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to
such Extension. 
 At any time prior to the effectiveness of any such extension, upon the Administrative Agent’s request, the Loan
Parties shall deliver to the Administrative Agent a certificate signed by a Responsible Officer of such Loan Party certifying the matters referred to in the immediately preceding clause (c)(i). 

SECTION 2.19 CASH COLLATERAL. At any time that there shall exist a Defaulting Lender, within one (1) Business Day following the written
request of the Administrative Agent, the Issuing Bank or the Swing Line Lender (with a copy to the Administrative Agent), the Borrower shall Cash Collateralize the Fronting Exposure of the Issuing Bank and/or the Swing Line Lender, as applicable,
with respect to such Defaulting Lender (determined after giving effect to Section 2.20(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount. 

(a) Grant of Security Interest. The Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby
grants to the Administrative Agent, for the benefit of the Issuing Bank and the Swing Line Lender, and agrees to maintain, a first priority security interest in all such Cash Collateral as security for the Defaulting Lender’s obligation to fund
participations in respect of Letter of Credit Exposure and Swing Line Loans, to be applied pursuant to subsection (b) below. If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person
other than the Administrative Agent, the Issuing Bank and the Swing Line Lender as herein provided, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, the Borrower will, promptly upon demand by the
Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by the Defaulting Lender). 

(b) Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under this
Section 2.19 or Section 2.20 in respect of Letters of Credit and Swing Line Loans shall be applied to the satisfaction of the Defaulting Lender’s obligation to fund participations in respect of Letter of Credit Exposure
and Swing Line Loans (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise be
provided for herein. 
 (c) Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce the
Fronting Exposure of the Issuing Bank and/or the Swing Line Lender, as applicable, shall no longer be required to be held as Cash Collateral pursuant to this Section 2.19  

  
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following (i) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (ii) the determination by the
Administrative Agent, the Issuing Bank and the Swing Line Lender that there exists excess Cash Collateral; provided that, subject to Section 2.20, the Person providing Cash Collateral, the Issuing Bank and the Swing Line Lender
may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations. 
 SECTION 2.20
DEFAULTING LENDERS. 
 (a) Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if
any Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by Applicable Law: 

(i) Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect
to this Agreement shall be restricted as set forth in the definition of Required Lenders. 
 (ii) Defaulting Lender Waterfall. Any
payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) or received by the
Administrative Agent from a Defaulting Lender pursuant to Section 10.3 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such
Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the Issuing Bank or the Swing Line Lender hereunder; third, to Cash
Collateralize the Fronting Exposure of the Issuing Bank and the Swing Line Lender with respect to such Defaulting Lender in accordance with Section 2.19; fourth, as the Borrower may request (so long as no Default or Event of
Default exists), to the funding of any Loan or funded participation in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so
determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to (A) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans and
funded participations under this Agreement and (B) Cash Collateralize the Issuing Bank’s future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit and Swing Line Loans issued under this
Agreement, in accordance with Section 2.19; sixth, to the payment of any amounts owing to the Lenders, the Issuing Bank or the Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any
Lender, the Issuing Bank or the Swing Line Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the
payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this
Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (1) such payment is a payment of the principal amount of any Loans or funded participations in
Letters of Credit or Swing Line Loans in respect of which such Defaulting Lender has not fully funded its appropriate share, and (2) such Loans were made or the related Letters of Credit or Swing Line Loans were issued at a time when the
conditions set forth in Section 5.2 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and funded participations in Letters of Credit or Swing Line Loans owed to, all Non-Defaulting Lenders on a
pro rata basis prior to being applied to the payment of any Loans of, or funded participations in Letters of Credit or Swing Line Loans owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations
in Letter of Credit Exposure and Swing Line Loans are held by the Lenders pro rata in accordance with the Revolving Credit Commitments under the applicable Revolving Credit 

  
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Facility without giving effect to Section 2.20(a)(iv). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed
by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.20(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

(iii) Certain Fees. 

(A) No Defaulting Lender shall be entitled to receive any Commitment Fee pursuant to Section 2.11(a) for any period
during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender). 

(B) Each Defaulting Lender shall be entitled to receive any Letter of Credit Fee pursuant to Section 2.11(b) for
any period during which that Lender is a Defaulting Lender only to the extent allocable to its Revolving Credit Applicable Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to
Section 2.19. 
 (C) With respect to any Commitment Fee or any Letter of Credit Fee not required to be paid to
any Defaulting Lender pursuant to clause (1) or (2) above, the Borrower shall (A) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s
participation in Letter of Credit Exposure or Swing Line Loans that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (B) pay to the Issuing Bank and the Swing Line Lender, as applicable, the amount of any
such fee otherwise payable to such Defaulting Lender to the extent allocable to the Issuing Bank’s or Swing Line Lender’s Fronting Exposure to such Defaulting Lender, and (C) not be required to pay the remaining amount of any such
fee. 
 (iv) Reallocation of Participations to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s
participation in Letter of Credit Exposure and Swing Line Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Revolving Credit Applicable Percentages (calculated without regard to such Defaulting
Lender’s Revolving Credit Commitment) but only to the extent that (x) the conditions set forth in Section 5.2 are satisfied at the time of such reallocation (and, unless the Borrower shall have otherwise notified the
Administrative Agent at such time, the Borrower shall be deemed to have represented and warranted that such conditions are satisfied at such time), and (y) such reallocation does not cause the aggregate Revolving Credit Exposure of any
Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Commitment. No reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having
become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation. 

(v) Cash Collateral, Repayment of Swing Line Loans. If the reallocation described in clause (iv) above cannot, or can only
partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under Applicable Law, (x) first, repay Swing Line Loans in an amount equal to the Swing Line Lenders’ Fronting
Exposure and (y) second, Cash Collateralize the Issuing Bank’s Fronting Exposure in accordance with the procedures set forth in Section 2.19. 

(b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, the Issuing Bank and the Swing Line Lender agree in writing that
a Lender is no longer a Defaulting Lender, the 

  
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Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements
with respect to any Cash Collateral), such Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause
the Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be held pro rata by the Lenders in accordance with their Revolving Credit Commitments (without giving effect to
Section 2.20(a)(iv), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that
Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim
of any party hereunder arising from that Lender’s having been a Defaulting Lender. 
 (c) New Letters of Credit. So long as any
Lender is a Defaulting Lender, the Issuing Bank shall not be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto. 

ARTICLE III 
 YIELD
PROTECTION 
 SECTION 3.1 INCREASED COSTS. 

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

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

(ii) subject any Lender or the Issuing Bank to any tax of any kind whatsoever with respect to this Agreement, any Letter of Credit, any
participation in a Letter of Credit or any Eurodollar Rate Loan made by it, or change the basis of taxation of payments to such Lender or the Issuing Bank in respect thereof (except for Indemnified Taxes or Other Taxes covered by
Section 3.2 and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or the Issuing Bank); or 

(iii) impose on any Lender or the Issuing Bank or the London interbank market any other condition, cost or expense affecting this Agreement or
Eurodollar Rate Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of the foregoing shall be to increase
the cost to such Lender of making or maintaining any Eurodollar Rate Loan (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or the Issuing Bank of participating in, issuing or maintaining any Letter of
Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the Issuing Bank hereunder (whether of principal, interest or any other amount)
then, upon request of such Lender or the Issuing Bank, the Borrower shall pay to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or the Issuing Bank, as the case may be, for such
additional costs incurred or reduction suffered. 
 (b) Capital Requirements. If any Lender or the Issuing Bank determines that any
Change in Law affecting such Lender or the Issuing Bank or any lending office of such Lender or the Issuing Bank 

  
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or such Lender’s or the Issuing Bank’s holding company, if any, regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or the
Issuing Bank’s capital or on the capital of such Lender’s or the Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Revolving Credit Commitments of such Lender or the Loans made by, or participations in
Letters of Credit held by, such Lender, or the Letters of Credit issued by the Issuing Bank, to a level below that which such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company could have achieved but for
such Change in Law (taking into consideration such Lender’s or the Issuing Bank’s policies and the policies of such Lender’s or the Issuing Bank’s holding company with respect to capital adequacy), then from time to time the
Borrower shall pay to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company for any such reduction
suffered. 
 (c) Certificates for Reimbursement. A certificate of a Lender or the Issuing Bank setting forth the amount or amounts
necessary to compensate such Lender or the Issuing Bank or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section and delivered to the Borrower shall be conclusive absent manifest error. The Borrower
shall pay such Lender or the Issuing Bank, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 

(d) Delay in Requests. Failure or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant to this Section
shall not constitute a waiver of such Lender’s or the Issuing Bank’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender or the Issuing Bank pursuant to this Section for any
increased costs incurred or reductions suffered more than six months prior to the date that such Lender or the Issuing Bank, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such
Lender’s or the Issuing Bank’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the six-month period referred to above shall be extended to
include the period of retroactive effect thereof). 
 SECTION 3.2 TAXES. 

(a) Payments Free of Taxes. Any and all payments by or on account of any obligation of the Borrower hereunder or under any other Loan
Document shall be made free and clear of and without reduction or withholding for any Indemnified Taxes or Other Taxes; provided that if the Borrower shall be required by Applicable Law to deduct any Indemnified Taxes (including any Other
Taxes) from such payments, then (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent, each
Lender or the Issuing Bank, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall timely pay the full
amount deducted to the relevant Governmental Authority in accordance with Applicable Law. 
 (b) Payment of Other Taxes by the
Borrower. Without limiting the provisions of paragraph (a) above, the Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with Applicable Law. 

(c) Reimbursement by the Borrower. The Borrower shall reimburse the Administrative Agent, each Lender and the Issuing Bank, within 10
days after demand therefor, for the full amount of any Indemnified Taxes or Other Taxes arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this
Agreement or any other Loan Document (including Indemnified Taxes or Other Taxes imposed or 

  
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asserted on or attributable to amounts payable under this Section) paid by the Administrative Agent, such Lender or the Issuing Bank, as the case may be, and any penalties, interest and
reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment
or liability delivered to the Borrower by a Lender or the Issuing Bank (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or the Issuing Bank, shall be conclusive absent manifest
error. 
 (d) Evidence of Payments. As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a
Governmental Authority required by this Section 3.2, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return
reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 
 (e) Status of
Lenders. Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which the Borrower is resident for tax purposes, or any treaty to which such jurisdiction is a party, with
respect to payments hereunder or under any other Loan Document shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by Applicable Law or reasonably requested by the Borrower or the Administrative
Agent, such properly completed and executed documentation prescribed by Applicable Law as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if requested by the Borrower or the
Administrative Agent, shall deliver such other documentation prescribed by Applicable Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such
Lender is subject to backup withholding or information reporting requirements. 
 Without limiting the generality of the foregoing, in the
event that the Borrower is resident for tax purposes in the United States of America, any Foreign Lender shall deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the
date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the request of the Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the
following is applicable: 
 (i) duly completed copies of Internal Revenue Service Form W-8BEN claiming eligibility for benefits of an income
tax treaty to which the United States of America is a party; 
 (ii) duly completed copies of Internal Revenue Service Form W-8ECI; 

(iii) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under section 881(c) of the Code,
(x) a certificate to the effect that such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Borrower within the meaning of section
881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code and (y) duly completed copies of Internal Revenue Service Form W-8BEN; or 

(iv) any other form prescribed by Applicable Law as a basis for claiming exemption from or a reduction in United States Federal withholding
tax duly completed together with such supplementary documentation as may be prescribed by Applicable Law to permit the Borrower to determine the withholding or deduction required to be made. 

  
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 (f) Treatment of Certain Refunds. If the Administrative Agent, a Lender or the Issuing
Bank determines, in its sole discretion, that it has received a refund of any Taxes or Other Taxes as to which it has been reimbursed by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section, it
shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section with respect to the Taxes or Other Taxes giving rise to such refund), net of
all out-of-pocket expenses of the Administrative Agent, such Lender or the Issuing Bank, as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided that
the Borrower shall, upon the request of the Administrative Agent, such Lender or the Issuing Bank, repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the
Administrative Agent, such Lender or the Issuing Bank in the event the Administrative Agent, such Lender or the Issuing Bank is required to repay such refund to such Governmental Authority. This paragraph shall not be construed to require the
Administrative Agent, any Lender or the Issuing Bank to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the Borrower or any other Person. 

SECTION 3.3 BREAK FUNDING PAYMENTS. In the event of (a) the payment of any principal of any Eurodollar Rate Loan other than on the last
day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Rate Loan other than on the last day of the Interest Period applicable thereto, or (c) the failure to borrow,
convert, continue or prepay any Eurodollar Rate Loan on the date specified in any notice delivered pursuant hereto, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event
(including any loss or expense arising from the liquidation or redeployment of funds obtained by it to maintain such Eurodollar Rate Loan or from fees payable to terminate the deposits from which such funds were obtained), together with any
administrative charges charged by such Lender in connection with the foregoing. For the purposes of calculating amounts payable under this Section, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it by a matching deposit
or other borrowing in the London interbank Eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded. A certificate of any Lender setting forth any amount or amounts that
such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after
receipt thereof. 
 SECTION 3.4 SURVIVAL. All of the Borrower’s obligations under this Article III shall survive the termination
of the Commitments and the repayment of all Obligations hereunder. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

The Borrower represents and warrants to the Administrative Agent and the Lenders that: 

SECTION 4.1 EXISTENCE, QUALIFICATION AND POWER. Each Loan Party (a) is duly organized or formed and validly existing under the Applicable
Law of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own its assets and carry on its business and
(ii) execute, deliver, and perform its obligations under the Loan Documents to which it is a party and consummate the transactions contemplated hereby or thereby, and (c) is duly qualified and is licensed and in good standing under the
Applicable Law of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or licenses, except in each case referred to in clause (b)(i) or (c), to the extent that failure to
do so could not reasonably be expected to have a Material Adverse Effect. 

  
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 SECTION 4.2 AUTHORIZATION; NO CONTRAVENTION. The execution, delivery and performance by each Loan
Party of each Loan Document to which such Person is party, have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of such Person’s Organization
Documents; (b) conflict with or result in any breach or contravention of, or the creation of any Lien under, (i) any Contractual Obligation to which such Person is a party or (ii) any order, injunction, writ or decree of any
Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any Law. 
 SECTION 4.3
GOVERNMENTAL AUTHORIZATION; CONSENTS. No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution,
delivery or performance by, or enforcement against, any Loan Party of this Agreement, any other Loan Document or the consummation of the transactions contemplated hereby or thereby.  

SECTION 4.4 BINDING EFFECT. This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and
delivered by each Loan Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is
party thereto in accordance with its terms, except as enforceability may be limited by bankruptcy laws and general principles of equity. 

SECTION 4.5 FINANCIAL STATEMENTS; NO MATERIAL ADVERSE EFFECT. 

(a) The Borrower has heretofore furnished to the Lenders the Audited Financial Statements. Such financial statements present fairly, in all
material respects, the financial position and results of operations and cash flows of the Borrower and its Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to normal year-end adjustments and the absence of
footnotes in the case of the statements referred to in clause (ii) above. 
 (b) Since the date of the Audited Financial Statements,
there has been no event or circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 

SECTION 4.6 LITIGATION. There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower, threatened
or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of its Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to this
Agreement, any other Loan Document or the transactions contemplated hereby or thereby, or (b) either individually or in the aggregate, if determined adversely, could reasonably be expected to have a Material Adverse Effect (after the
application of any proceeds of insurance as to which the insurance carrier has been notified of the potential claim and does not dispute the coverage of such payment). 

SECTION 4.7 NO DEFAULT. Neither the Borrower nor any Subsidiary is in default under or with respect to any Contractual Obligation that could
either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan
Document. 
 SECTION 4.8 OWNERSHIP OF PROPERTY; LIENS. The Borrower and each Subsidiary has good and marketable title in fee simple to, or
valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The
property of the Borrower and its Subsidiaries is subject to no Liens, other than Permitted Liens. 

  
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 SECTION 4.9 ENVIRONMENTAL COMPLIANCE. There are no actions, suits, proceedings, claims or
disputes pending or, to the knowledge of the Borrower, overtly threatened in writing, at law, in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of its Subsidiaries or against any of their properties or
revenues that allege any material Environmental Liability that could reasonably be expected to have a Material Adverse Effect. 
 SECTION
4.10 INSURANCE. The properties of the Borrower and its Subsidiaries (or, in the case of real property, equipment or other personal property leased to others, their respective lessees) are insured with financially sound and reputable insurance
companies not Affiliates of the Borrower, in such amounts, after giving effect to any self-insurance compatible with the following standards, with such deductibles and covering such risks as are customarily carried by companies engaged in similar
businesses and owning similar properties in localities where the Borrower or the applicable Subsidiary operates. 
 SECTION 4.11 TAXES. The
Borrower and its Subsidiaries have filed all Federal, state and other material tax returns and reports required to be filed, and have paid all Federal, state and other material taxes, assessments, fees and other governmental charges levied or
imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance
with GAAP. There is no proposed tax assessment against the Borrower or any Subsidiary that would, if made, have a Material Adverse Effect. 

SECTION 4.12 ERISA COMPLIANCE. 

(a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other Federal or state laws.
Each Pension Plan which is intended to be a qualified plan under Section 401(a) of the Code as currently in effect has been determined by the Internal Revenue Service to be qualified under Section 401(a) of the Code and the trust related
thereto has been determined by the Internal Revenue Service to be exempt from federal income tax under Section 501(a) of the Code. To the best knowledge of the Borrower, nothing has occurred that would prevent or cause the loss of such
tax-qualified status. 
 (b) There are no pending or, to the best knowledge of the Borrower, threatened claims, actions or lawsuits, or
action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan
that has resulted or could reasonably be expected to result in a Material Adverse Effect. 
 (c) (i) No ERISA Event has occurred, and
neither the Borrower nor any ERISA Affiliate is aware of any fact, event or circumstance that could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan; (ii) the Borrower and each ERISA Affiliate
has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or obtained; (iii) as of the most recent
valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher and neither the Borrower nor any ERISA Affiliate knows of any facts or circumstances that could
reasonably be expected to cause the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iv) neither the Borrower nor any ERISA Affiliate has incurred any liability to the PBGC other
than for 

  
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the payment of premiums, and there are no premium payments which have become due that are unpaid; (v) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be
subject to Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably be expected
to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan. 
 (d) Neither the Borrower nor any ERISA
Affiliate maintains or contributes to, or has any unsatisfied obligation to contribute to, or liability under, any active or terminated Pension Plan other than those listed on Schedule 4.12(d) hereto. 

SECTION 4.13 SUBSIDIARIES. As of the Closing Date, the Borrower has no Subsidiaries other than those specifically disclosed on Schedule
4.13. 
 SECTION 4.14 DISCLOSURE. The Borrower has disclosed to the Administrative Agent and the Lenders all agreements, instruments and
corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. No report, financial
statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Loan Party in connection with any Loan Document to the Administrative Agent or any Lender in connection with the transactions contemplated
hereby or thereby and the negotiation of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

SECTION 4.15 COMPLIANCE WITH LAWS. The Borrower and each Subsidiary is in compliance in all material respects with the requirements of all
Applicable Laws (including, without limitation, as applicable, all Healthcare Laws) and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order,
writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material
Adverse Effect. 
 SECTION 4.16 MARGIN REGULATIONS; INVESTMENT COMPANY ACT; ETC. 

(a) None of the proceeds of any Loan or Letter of Credit issued hereunder will be used, directly or indirectly, for the purpose of
(i) purchasing or carrying any margin stock, (ii) reducing or retiring any Indebtedness which was originally incurred to purchase or carry margin stock (within the meaning of Regulation U issued by the Board of Governors of the Federal
Reserve System) or (iii) any other purpose which violates or which would be inconsistent with Regulation U (12 CFR Part 221) or Regulation X (12 CFR Part 224) of the Board of Governors of the Federal Reserve System. Without limitation of the
foregoing, at no time shall more than 25% of the value of the assets of the Borrower and its Subsidiaries on a consolidated basis consist of margin stock. 

(b) Neither the Borrower nor any Subsidiary is (i) an “investment company”, a company “controlled” by an
“investment company,” or an “investment advisor,” in each case as defined in, or subject to regulation under, the Investment Company Act of 1940, as amended, or (ii) otherwise subject to any other regulatory scheme limiting
its ability to incur debt under this Agreement or the other Loan Documents. 

  
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 SECTION 4.17 SOLVENCY. Each Loan Party is Solvent after giving effect to the transactions
contemplated hereby. 
 SECTION 4.18 PERMITS, FRANCHISES. The Borrower and each Subsidiary possesses, and will hereafter possess, all
permits, consents, approvals, franchises and licenses required and rights to all trademarks, trade names, patents, and fictitious names, if any, necessary to or used in the course of business granted to it and enable it to conduct the business in
which it is now engaged in compliance with Applicable Law, without known conflict with any trademark, trade names, patents or other proprietary right of any Person where the failure to possess such asset could reasonably be expected to have a
Material Adverse Effect. 
 SECTION 4.19 MATERIAL AGREEMENTS. There is no existing default or event of default (after the expiration of any
applicable grace or cure period) by any Loan Party under any Material Agreement, which might reasonably be expected to give rise to a Material Adverse Effect. 

SECTION 4.20 REIT STATUS. The Borrower: (a) is a REIT, (b) has not revoked its election to be a REIT, (c) has not engaged in
any “prohibited transactions” as defined in Section 856(b)(6)(iii) of the Internal Revenue Code (or any successor provision thereto), and (d) for its current “tax year” as defined in the Internal Revenue Code is and for
all prior tax years subsequent to its election to be a REIT has been entitled to a dividends paid deduction which meets the requirements of Section 857 of the Internal Revenue Code. 

SECTION 4.21 LEASE PROPERTY. 

(a) As of the Closing Date, Schedule 4.21(a) is a correct and complete list of each Lease Property of the Borrower and its
Subsidiaries. 
 (b) As of the Closing Date, Schedule 4.21(b) is a correct and complete list of each Unencumbered Lease Property with
respect to any Loan Party. 
 (c) Each of the properties included by the Borrower in the calculation of Aggregate Total Fixed Asset Value
satisfies all of the requirements contained in the definition of Lease Property. Each of the properties included by the Borrower in the calculation of Aggregate Unencumbered Fixed Asset Value satisfies all of the requirements contained in the
definition of Unencumbered Lease Property. 
 SECTION 4.22 OFAC. No Loan Party nor any of its Subsidiaries (i) is an “enemy”
or an “ally of the enemy” within the meaning of Section 2 of the Trading with the Enemy Act of the United States (50 U.S.C. App. §§ 1 et seq.), as amended, (ii) is in violation of (A) the Trading with the Enemy
Act, as amended, (B) any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto or (C) the PATRIOT Act
or (iii) is a Sanctioned Person. No part of the proceeds of any Loan or Letter of Credit hereunder will be used directly or indirectly to fund any operations in, finance any investments or activities in or make any payments to, a Sanctioned
Person or a Sanctioned Country. 
 SECTION 4.23 INTELLECTUAL PROPERTY MATTERS. Each Loan Party and each Subsidiary thereof owns or possesses
rights to use all material franchises, licenses, copyrights, copyright applications, patents, patent rights or licenses, patent applications, trademarks, trademark rights, service mark, service mark rights, trade names, trade name rights, copyrights
and other rights with respect to the foregoing which are reasonably necessary to conduct its business. No event has occurred which permits, or after notice or lapse of time or both would permit, the revocation or termination of any such rights, and
no Loan Party nor any Subsidiary thereof is liable to any Person for infringement under Applicable Law with respect to any such rights as a result of its business operations. 

  
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 SECTION 4.24 EMPLOYEE RELATIONS. No Loan Party or any Subsidiary thereof is party to any
collective bargaining agreement or has any labor union been recognized as the representative of its employees. The Borrower knows of no pending, threatened or contemplated strikes, work stoppage or other collective labor disputes involving its
employees or those of its Subsidiaries. 
 SECTION 4.25 BURDENSOME PROVISIONS. The Loan Parties and their respective Subsidiaries do not
presently anticipate that future expenditures needed to meet the provisions of any statutes, orders, rules or regulations of a Governmental Authority will be so burdensome as to have a Material Adverse Effect. No Subsidiary is party to any agreement
or instrument or otherwise subject to any restriction or encumbrance that restricts or limits its ability to make dividend payments or other distributions in respect of its Equity Interests to the Borrower or any Subsidiary or to transfer any of its
assets or properties to the Borrower or any other Subsidiary in each case other than existing under or by reason of the Loan Documents or Applicable Law. 

SECTION 4.26 ANTI-CORRUPTION LAWS AND SANCTIONS. The Borrower has implemented, and maintains in effect, policies and procedures designed to
ensure compliance by the Borrower, its Wholly-Owned Subsidiaries and their respective directors, officers and employees with Anti-Corruption Laws and applicable Sanctions, and the Borrower, its Wholly-Owned Subsidiaries and their respective officers
and employees and to the actual knowledge of any Responsible Officer of the Borrower, its directors, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of the Borrower, any Wholly-Owned Subsidiary or
to the actual knowledge of any Responsible Officer of the Borrower, any of their respective directors, officers or employees, is a Sanctioned Person. 

ARTICLE V 
 CONDITIONS

 SECTION 5.1 CONDITIONS TO CLOSING AND INITIAL EXTENSIONS OF CREDIT. The obligation of the Lenders to close this Agreement and to
make the initial Loans or issue or participate in the initial Letter of Credit, if any, is subject to the satisfaction of each of the following conditions: 

(a) Executed Loan Documents. This Agreement and a Note in favor of each Lender under the applicable Facility requesting a Note,
together with any other applicable Loan Documents, shall have been duly authorized, executed and delivered to the Administrative Agent by the parties thereto, shall be in full force and effect and no Default or Event of Default shall exist hereunder
or thereunder. 
 (b) Closing Certificates; Etc. The Administrative Agent shall have received each of the following in form and
substance reasonably satisfactory to the Administrative Agent: 
 (i) Officer’s Certificate. A certificate from a Responsible
Officer of the Borrower to the effect that (A) all representations and warranties of the Loan Parties contained in this Agreement and the other Loan Documents are true, correct and complete in all material respects (except to the extent any
such representation and warranty is qualified by materiality or reference to Material Adverse Effect, in which case, such representation and warranty shall be true, correct and complete in all respects); (B) none of the Loan Parties is in
violation of any of the covenants contained in this Agreement and the other Loan Documents; (C) after giving effect to the transactions contemplated hereby, no Default or Event of Default has occurred and is continuing; (D) since
December 31, 2013, no event has occurred or condition arisen, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect; and (E) each of the Loan Parties, as applicable, has
satisfied each of the conditions set forth in Section 5.1 and Section 5.2. 

  
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 (ii) Certificate of Secretary of each Loan Party. A certificate of a Responsible Officer
of each Loan Party certifying as to the incumbency and genuineness of the signature of each officer of such Loan Party executing Loan Documents to which it is a party and certifying that attached thereto is a true, correct and complete copy of
(A) the articles or certificate of incorporation or formation (or equivalent), as applicable, of such Loan Party and all amendments thereto, certified as of a recent date by the appropriate Governmental Authority in its jurisdiction of
incorporation, organization or formation (or equivalent), as applicable, (B) the bylaws or other governing document of such Loan Party as in effect on the Closing Date, (C) resolutions duly adopted by the board of directors (or other
governing body) of such Loan Party authorizing and approving the transactions contemplated hereunder and the execution, delivery and performance of this Agreement and the other Loan Documents to which it is a party, and (D) each certificate
required to be delivered pursuant to Section 5.1(b)(iii); provided that, with respect to any of the items described in clauses (A) and (B) above, the respective certification may instead be that there have been no
changes to the relevant documents since the Original Closing Date or that any changes from such documents are attached, and to the extent so certified the documents delivered pursuant to the Existing Credit Agreement need not be redelivered
hereunder. 
 (iii) Certificates of Good Standing. Certificates as of a recent date of the good standing of each Loan Party under the
laws of its jurisdiction of incorporation, organization or formation (or equivalent), as applicable, and, to the extent requested by the Administrative Agent, each other jurisdiction where such Loan Party is qualified to do business and, to the
extent available, a certificate of the relevant taxing authorities of such jurisdictions certifying that such Loan Party has filed required tax returns and owes no delinquent taxes. 

(c) Opinions of Counsel. Opinions of counsel to the Loan Parties addressed to the Administrative Agent and the Lenders with respect to
the Loan Parties, the Loan Documents and such other matters as the Administrative Agent shall request (which such opinions shall expressly permit reliance by permitted successors and assigns of the Administrative Agent and the Lenders). 

(d) Consents; Defaults. 

(i) Governmental and Third Party Approvals. The Loan Parties shall have received all material governmental, shareholder and third party
consents and approvals necessary (or any other material consents as determined in the reasonable discretion of the Administrative Agent) in connection with the transactions contemplated by this Agreement and the other Loan Documents and all
applicable waiting periods shall have expired without any action being taken by any Person that could reasonably be expected to restrain, prevent or impose any material adverse conditions on any of the Loan Parties or such other transactions or that
could seek or threaten any of the foregoing, and no law or regulation shall be applicable which in the reasonable judgment of the Administrative Agent could reasonably be expected to have such effect. 

(e) No Injunction, Etc. No action, proceeding or investigation shall have been instituted, threatened or proposed before any
Governmental Authority to enjoin, restrain, or prohibit, or to obtain substantial damages in respect of, or which is related to or arises out of this Agreement or the other Loan Documents or the consummation of the transactions contemplated hereby
or thereby, or which, in the Administrative Agent’s sole discretion, would make it inadvisable to consummate the transactions contemplated by this Agreement or the other Loan Documents or the consummation of the transactions contemplated hereby
or thereby. 

  
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 (f) Financial Matters. 

(i) Financial Projections. The Administrative Agent shall have received, in form and substance reasonably satisfactory thereto, annual
projections prepared by management of the Borrower of balance sheets, income statements and cashflow statements of the Borrower and its Subsidiaries for the years 2013 through 2018, prepared after giving Pro Forma Basis to each element of the
transactions contemplated hereby. 
 (ii) Financial Condition/Solvency Certificate. The Borrower shall have delivered to the
Administrative Agent a certificate, in form and substance satisfactory to the Administrative Agent, and certified as accurate by the chief executive officer, chief financial officer or the chief accounting officer of the Borrower, that
(A) after giving effect to the transactions contemplated hereby, each Loan Party is Solvent, (B) attached thereto are calculations evidencing compliance, on a Pro Forma Basis after giving effect to the transactions contemplated hereby,
with the covenants contained in Section 6.12, (C) the financial projections previously delivered to the Administrative Agent represent the good faith estimates (utilizing reasonable assumptions) of the financial condition and
operations of the Borrower and its Subsidiaries and (D) attached thereto are calculations evidencing which Subsidiaries are Excluded Subsidiaries in compliance with the requirements set forth in the definition thereof. 

(iii) Payment at Closing. The Borrower shall have paid (i) to the Administrative Agent, Wells Fargo Securities and the Lenders,
the fees set forth or referenced in Section 2.11(c) and any other accrued and unpaid fees or commissions due hereunder, (B) all fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel if
requested by the Administrative Agent) to the extent accrued and unpaid prior to or on the Closing Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and
disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Administrative Agent) and (C) to any
other Person such amount as may be due thereto in connection with the transactions contemplated hereby, including all taxes, fees and other charges in connection with the execution, delivery, recording, filing and registration of any of the Loan
Documents 
 (g) Miscellaneous. 

(i) Notice of Account Designation. The Administrative Agent shall have received a Notice of Account Designation specifying the account
or accounts to which the proceeds of any Loans made on or after the Closing Date are to be disbursed. 
 (ii) PATRIOT Act, etc. The
Borrower and each of the Subsidiary Guarantors shall have provided to the Administrative Agent and the Lenders the documentation and other information requested by the Administrative Agent in order to comply with requirements of the PATRIOT Act,
applicable “know your customer” and anti-money laundering rules and regulations. 
 (iii) Existing Term A-3 Loan
Indebtedness. All amounts due or outstanding under the Term A-3 Loan Facility (as defined in the Existing Credit Agreement) shall be repaid in full, all commitments (if any) in respect thereof shall have been terminated and all guarantees
therefor shall be released. 
 (iv) Other Documents. All opinions, certificates and other instruments and all proceedings in
connection with the transactions contemplated by this Agreement shall be satisfactory in form and substance to the Administrative Agent. The Administrative Agent shall have received copies of all other documents, certificates and instruments
reasonably requested thereby, with respect to the transactions contemplated by this Agreement. 

  
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 Without limiting the generality of the provisions of the last paragraph of Section 9.3, for purposes
of determining compliance with the conditions specified in this Section 5.1, the Administrative Agent and each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each
document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its
objection thereto. 
 SECTION 5.2 CONDITIONS OF EACH LOAN OR LETTER OF CREDIT. The obligation of each Lender and the Issuing Bank to make
each Loan or issue any Letter of Credit requested by the Borrower hereunder shall be subject to the fulfillment of each of the following conditions: 

(a) Continuation of Representations and Warranties. The representations and warranties contained herein and in each of the other Loan
Documents shall be true in all material respects (except to the extent any such representation and warranty is qualified by materiality or reference to Material Adverse Effect, in which case such representation and warranty shall be true, correct
and complete in all respects) on and as of the date of the signing of this Agreement and on the date such Loan is made or such Letter of Credit is issued, with the same effect as though such representations and warranties had been made on and as of
each such date, except that for purposes of this Section 5.2(a), the representations and warranties contained in Section 4.5(a) shall be deemed to refer to the most recent statements furnished pursuant to Sections
6.1(a) and (b), respectively. The making of each Loan and issuance of each Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in this
Section 5.2(a). 
 (b) No Existing Default. No Default or Event of Default shall have occurred and be continuing on the
date such Loan is made or such Letter of Credit is issued. 
 (c) Notices. The Administrative Agent shall have received a Borrowing
Request or Interest Election Request, as applicable, from the Borrower in accordance with Section 2.3(a) or Section 2.7, as applicable. 

(d) Documentation. The Administrative Agent shall have received such other documents, certificates, information or legal opinions as it
may reasonably request, all in form and substance satisfactory to the Administrative Agent and the Required Lenders, in connection with such Loan or Letter of Credit. 

ARTICLE VI 

AFFIRMATIVE COVENANTS 

So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation shall remain unpaid or unsatisfied, or any Letter of
Credit shall remain outstanding (other than any Letter of Credit as to which the Borrower has made arrangements satisfactory to the Issuing Bank to Cash Collateralize such Letter of Credit), the Borrower shall, and shall (except in the case of the
covenants set forth in Sections 6.1, 6.2, 6.3, 6.11 and 6.16) cause each Subsidiary to, unless otherwise consented to by the Required Lenders: 

SECTION 6.1 FINANCIAL STATEMENTS; BUDGET. Deliver to the Administrative Agent a sufficient number of copies for delivery by the Administrative
Agent to each Lender, of the following, in form and detail satisfactory to the Administrative Agent and the Required Lenders: 
 (a) as soon
as available, but in any event within 120 days after the end of each fiscal year of the Borrower, a consolidated and, if requested by the Administrative Agent, consolidating, balance sheet of the Borrower and its Subsidiaries as at the end of such
fiscal year, and the related consolidated and consolidating statements of income or operations, retained earnings and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in
reasonable detail and prepared in accordance with GAAP, and, in the case of such consolidated statements, audited and accompanied by a report and opinion of BDO USA, LLP or another independent certified public accountant reasonably acceptable to the
Required Lenders, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any qualification or exception and accompanied by a certificate of the chief executive officer, chief
financial officer or chief accounting officer of the Borrower stating that no Event of Default was discovered or occurred during the examination of the Borrower; 

  
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 (b) as soon as available, but in any event within 45 days after the end of each of the first
three fiscal quarters of each fiscal year of the Borrower, a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated and consolidating statements of income or operations and
retained earnings for such fiscal quarter and for the portion of the Borrower’s fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the
corresponding portion of the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of the Borrower as fairly presenting the financial condition, results of operations and shareholders’ equity of the Borrower and
its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes; 
 (c) as soon as
available, but in any event not later than the last Business Day of each fiscal year of the Borrower, a budget of the Borrower and its Subsidiaries on a consolidated basis consisting of a consolidated statement of income, statement of cash flows and
consolidated balance sheet for the upcoming fiscal year; and 
 (d) simultaneously with the delivery of each set of financial statements
referred to in clauses (a) and (b) above, consolidating statements of income (or operations) and cash flow and consolidating balance sheets prepared by management of the Borrower reflecting the assets, liabilities and results of operations
of such non-Wholly Owned Subsidiaries. 
 SECTION 6.2 CERTIFICATES; OTHER INFORMATION. Deliver to the Administrative Agent a sufficient
number of copies for delivery to each Lender, of the following, in form and detail satisfactory to the Administrative Agent and the Required Lenders: 

(a) concurrently with the delivery of the financial statements referred to in Sections 6.1(a) and (b), a duly completed
Compliance Certificate signed by a Responsible Officer of the Borrower; 
 (b) promptly after any request by the Administrative Agent or any
Lender, copies of any audit reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of the Borrower by independent accountants in connection with the accounts or books of
the Borrower or any Subsidiary, or any audit of any of them; 
 (c) promptly after the same are available, copies of each annual report,
proxy or financial statement or other report or communication sent to the stockholders of the Borrower, and copies of all annual, regular, periodic and special reports and registration statements which the Borrower may file or be required to file
with the Securities and Exchange Commission under Section 13 or 15(d) of the Securities Exchange Act of 1934, and not otherwise required to be delivered to the Administrative Agent pursuant hereto; and 

  
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 (d) promptly, such additional information regarding the business, financial or corporate affairs
of the Borrower or any Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent may from time to time reasonably request. 

SECTION 6.3 NOTICES. Promptly notify the Administrative Agent and each Lender: 

(a) of the existence of any Default; 

(b) of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect, including (i) breach or
non-performance of, or any default under, a Contractual Obligation of the Borrower or any Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension between the Borrower or any Subsidiary and any Governmental Authority;
or (iii) the commencement of, or any material development in, any litigation or proceeding affecting the Borrower or any Subsidiary, including pursuant to any applicable Environmental Laws; 

(c) the occurrence of any ERISA Event; and 

(d) of any material change in accounting policies or financial reporting practices by the Borrower or any Subsidiary. 

Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the
occurrence referred to therein and stating what action (if any) the Borrower has taken and proposes to take with respect thereto. Each notice pursuant to Section 6.3(a) shall describe with particularity any and all provisions of this
Agreement and any other Loan Document that have been breached. 
 SECTION 6.4 PAYMENT OF OBLIGATIONS. Pay and discharge prior to delinquency
all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently
conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary; (b) all lawful claims which, if unpaid, would by law become a Lien upon its property (other than Permitted Liens); and (c) all
Material Indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness. 

SECTION 6.5 PRESERVATION OF EXISTENCE, ETC. (a) Preserve, renew and maintain in full force and effect its legal existence and good
standing (or the local equivalent) under the laws of the jurisdiction of its organization, except (x) in a transaction permitted by Section 7.4 or 7.5 or (y) in the case of good standing (or the local equivalent), to the
extent the failure to do so could not reasonably be expected to have a Material Adverse Effect; (b) take all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of
its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its registered patents, trademarks, trade names and service marks, if any, the
non-preservation of which could reasonably be expected to have a Material Adverse Effect. 
 SECTION 6.6 MAINTENANCE OF PROPERTIES.
(a) Maintain, preserve and protect (or, in the case of properties and equipment leased to others, cause its lessees to) all of its material 

  
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properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto and renewals
and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its facilities. 

SECTION 6.7 MAINTENANCE OF INSURANCE. Maintain with financially sound and reputable insurance companies not Affiliates of the Borrower, (or,
in the case of real property, equipment or other personal property leased to others, cause its lessees to maintain) insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons
engaged in the same or similar business, of such types and in such amounts (after giving effect to any self-insurance compatible with the following standards) as are customarily carried under similar circumstances by such other Persons. 

SECTION 6.8 COMPLIANCE WITH LAW. 

(a) Comply in all material respects with the requirements of all Applicable Law (including, without limitation, as applicable, all Healthcare
Laws), and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which (i) such requirement of Law or order, writ, injunction or decree is being contested in good faith by
appropriate proceedings diligently conducted; or (ii) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 

(b) Maintain in effect, and enforce, policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and their
respective directors, officers, employees with Anti-Corruption Laws and applicable Sanctions in all material respects. 
 SECTION 6.9 BOOKS
AND RECORDS. (a) Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the
Borrower or such Subsidiary, as the case may be; and (b) maintain such books of record and account in material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over the Borrower or such
Subsidiary, as the case may be. 
 SECTION 6.10 INSPECTION RIGHTS. Permit representatives and independent contractors of the Administrative
Agent and each Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors,
officers, and independent public accountants, all at the expense of the Borrower and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower; provided,
however, that (i) when no Default exists, only one such inspection shall be done at the expense of the Borrower per calendar year, and (ii) when a Default exists the Administrative Agent or any Lender (or any of their respective
representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours, as often as may be desired, with reasonable advance notice to the Borrower. 

SECTION 6.11 USE OF PROCEEDS. Use the proceeds of Loans and the drawings made under the Letters of Credit (a) to finance the payment of
certain fees, commissions and expenses incurred in connection with this Agreement and (b) for general corporate purposes (including (i) working capital and (ii) other permitted Investments) not in contravention of
Section 7.8, any law or any other provision of this Agreement or any other Loan Document. 

  
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 SECTION 6.12 FINANCIAL COVENANTS. 

(a) Maximum Consolidated Total Leverage Ratio. Maintain at all times a Consolidated Total Leverage Ratio not greater than 0.50 to 1.00.

 (b) Minimum Consolidated Fixed Charge Coverage Ratio. Maintain at all times after December 31, 2013, a Consolidated Fixed
Charge Coverage Ratio of not less than 2.00 to 1.00. 
 (c) Minimum Consolidated Tangible Net Worth. Maintain at all times a
Consolidated Tangible Net Worth of at least (i) $650,000,000 plus (ii) eighty-five percent (85%) of the net cash proceeds from any equity offering conducted on or after the Closing Date. 

(d) Minimum Consolidated Unencumbered Fixed Asset Coverage Ratio. Maintain a Consolidated Unencumbered Fixed Asset Coverage Ratio at
all times of not less than 1.67 to 1.00 
 SECTION 6.13 NEW SUBSIDIARIES. As soon as practicable but in any event within 10 Business Days
following, (i) in the case of clause (a) and (b), (A) the acquisition or creation of any Subsidiary (other than any Excluded Subsidiary) or (B) pursuant to the requirements of the definition of Excluded Subsidiary, any
Subsidiary which was an Excluded Subsidiary no longer meeting the requirements of an Excluded Subsidiary and (ii) in the case of clause (c), the Administrative Agent’s request therefor, cause to be delivered to the Administrative Agent
each of the following: 
 (a) (i) with respect to any non-Wholly Owned Subsidiary, a Limited Guaranty Agreement or, if applicable, a Limited
Guaranty Joinder Agreement or (ii) with respect to any Wholly Owned Subsidiary, a Subsidiary Guaranty Joinder Agreement, in each case executed and delivered by such Subsidiary; 

(b) current copies of the Organization Documents of such Subsidiary and resolutions of the board of directors, or equivalent governing body,
of such Subsidiary, together with such other documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing (or the local equivalent) of such Subsidiary, the
authorization of the transactions contemplated by the Loan Documents and any other legal matters relating to such Subsidiary, the Loan Documents or the transactions contemplated thereby; and 

(c) to the extent requested by the Administrative Agent, an opinion of counsel to such Subsidiary, addressed to the Administrative Agent and
the Lenders, in form and substance reasonably acceptable to the Administrative Agent. 
 SECTION 6.14 COMPLIANCE WITH AGREEMENTS. Comply in
all respects with each term, condition and provision of all leases, agreements and other instruments entered into in the conduct of its business including, without limitation, any Material Agreement, except to the extent that the failure to do so
could not reasonably be expected to have a Material Adverse Effect. 
 SECTION 6.15 FURTHER ASSURANCES. At the Borrower’s cost and
expense, upon request of the Administrative Agent, duly execute and deliver or cause to be duly executed and delivered, to the Administrative Agent such further instruments, documents and certificates, and do and cause to be done such further acts
that may be reasonably necessary or advisable in the reasonable opinion of the Administrative Agent to carry out more effectively the provisions and purposes of this Agreement and the other Loan Documents. 

  
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 SECTION 6.16 STATUS. 

(a) Maintain the Borrower’s status as a REIT such that (i) all of the representations and warranties set forth in clauses (a),
(b) and (d) of Section 4.20 shall remain true and correct at all times and (ii) all of the representations and warranties set forth in clause (c) of Section 4.20 shall remain true and correct in all
material respects. 
 (b) Do or cause to be done all things necessary to maintain the listing of the Borrower’s Equity Interest on the
New York Stock Exchange, the American Stock Exchange or the Nasdaq National Market System (or any successor thereof). 
 ARTICLE VII

 NEGATIVE COVENANTS 

So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any
Letter of Credit shall remain outstanding (other than any Letter of Credit as to which the Borrower has made arrangements satisfactory to the Issuing Bank to Cash Collateralize such Letter of Credit), the Borrower shall not, nor shall it permit any
Subsidiary to, directly or indirectly, without the consent of the Required Lenders: 
 SECTION 7.1 LIENS. Create, incur, assume or suffer to
exist, any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following: 
 (a)
Liens in favor of the Administrative Agent on behalf of the Lenders and other Guaranteed Parties; 
 (b) Liens with respect to the payment
of taxes, assessments or governmental charges in each case that are not yet due or that are being contested in good faith by appropriate proceedings and with respect to which adequate reserves or other appropriate provisions are being maintained to
the extent required by GAAP; 
 (c) Liens of landlords arising by statute and Liens of suppliers, mechanics, carriers, materialmen,
warehousemen or workmen and other similar Liens, in each case (i) imposed by Law or arising in such Person’s Ordinary Course of Business, (ii) for amounts not yet due or that are being contested in good faith by appropriate
proceedings, and (iii) with respect to which adequate reserves or other appropriate provisions are being maintained to the extent required by GAAP; 

(d) deposits made in such Person’s Ordinary Course of Business in connection with workers’ compensation or unemployment insurance,
or other types of social security benefits or to secure the performance of bids, tenders, sales, contracts (other than for the repayment of borrowed money) and surety, appeal, customs or performance bonds-entered into in such Person’s Ordinary
Course of Business; 
 (e) encumbrances arising by reason of zoning restrictions, easements, licenses, reservations, covenants,
rights-of-way, utility easements, building restrictions and other similar encumbrances on the use of real property not materially detracting from the value of such real property or not materially interfering with the ordinary conduct of the business
conducted and proposed to be conducted at such real property; 
 (f) encumbrances arising under leases or subleases of real property that do
not, in the aggregate, materially detract from the value of such real property or interfere with the ordinary conduct of the business conducted and proposed to be conducted at such real property; 

  
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 (g) financing statements with respect to a lessor’s rights in and to personal property
leased to such Person in such Person’s Ordinary Course of Business other than through a Capitalized Lease; 
 (h) judgment Liens in
existence for less than 45 days after the entry thereof or with respect to which execution has been stayed or the payment of which is covered in full (subject to a customary deductible) by insurance maintained with nationally recognized insurance
companies and which do not otherwise result in a Default; 
 (i) Liens consisting of rights of set-off of a customary nature or
bankers’ liens on an amount of deposit, whether arising by contract or operation of law, incurred in such Person’s Ordinary Course of Business so long as such deposits are not intended as collateral for any obligation that constitutes
Indebtedness; 
 (j) Liens securing Indebtedness permitted under Section 7.3(f); provided that (i) such Liens shall
be created substantially simultaneously with the acquisition, repair, improvement or lease, as applicable, of the related property, (ii) such Liens do not at any time encumber any property other than the property financed by such Indebtedness,
(iii) the amount of Indebtedness secured thereby is not increased and (iv) the principal amount of Indebtedness secured by any such Lien shall at no time exceed one hundred percent (100%) of the original price for the purchase, repair
improvement or lease amount (as applicable) of such property at the time of purchase, repair, improvement or lease (as applicable); 
 (k)
Liens in existence on the Closing Date and described on Schedule 7.1, including Liens incurred in connection with the renewal, refinancing, extension and replacement of Indebtedness pursuant to Section 7.3(e) (solely to the extent
that such Liens were in existence on the Closing Date and described on Schedule 7.1); provided that the scope of any such Lien shall not be increased, or otherwise expanded, to cover any additional property or type of asset, as
applicable, beyond that in existence on the Closing Date, except for products and proceeds of the foregoing; and 
 (l) other Liens not
otherwise permitted under this Section 7.1 securing Indebtedness in an aggregate principal amount not to exceed, in the aggregate, after giving effect to any such Lien and any Indebtedness incurred in connection therewith, fifteen
percent (15%) of the Aggregate Total Fixed Asset Value of the Borrower and its Subsidiaries (excluding amounts properly attributable to Minority Interests); provided that, after giving effect to any such Lien and any Indebtedness
incurred in connection therewith, the Borrower shall be in compliance, on a Pro Forma Basis, with each financial covenant contained in Section 6.12 hereof; provided further that, prior to the creation, assumption or
suffering to exist of any such Lien and any Indebtedness incurred in connection therewith in an amount in excess of $25,000,000, the Borrower shall deliver to the Administrative Agent a certification, together with financial and other information in
detail reasonably requested by the Administrative Agent, (A) demonstrating such compliance and (B) certifying that no Default will exist either immediately before or after giving effect to any such Lien and any Indebtedness incurred in
connection therewith. 
 SECTION 7.2 INVESTMENTS. Make or permit to exist any Investments, except: 

(a) Investments held by the Borrower or any Subsidiary in the form of cash equivalents, short-term marketable debt securities or, to the
extent constituting Investments, Swap Contracts otherwise permitted or required by this Agreement; 
 (b) Investments of any Loan Party in
any other Loan Party (other than a Non-Bickford Limited Guarantor); 

  
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 (c) Investments consisting of extensions of credit in the nature of accounts receivable or notes
receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to
prevent or limit loss; 
 (d) Guarantees permitted by Section 7.3; 

(e) the Holiday Acquisition; 

(f) Investments by the Borrower or any Subsidiary in any Health Care Facilities; provided that, prior to and after giving effect to any
such Investment and any Indebtedness incurred in connection therewith, (i) no Default will exist and (ii) the Borrower shall be in compliance, on a Pro Forma Basis, with each financial covenant contained in Section 6.12 hereof;
provided further that, prior to the consummation of any such Investment involving aggregate consideration with respect thereto in excess of $25,000,000, the Borrower shall deliver to the Administrative Agent a certification, together
with financial and other information in detail reasonably requested by the Administrative Agent, (A) certifying that no Default will exist and (B) demonstrating such compliance; and 

(g) any other Investment not otherwise permitted under this Section 7.2 (including, without limitation, Investments in
(i) unimproved land holdings, (ii) mortgages, mezzanine loans and notes receivable, (iii) construction in progress, (iv) Excluded Subsidiaries and Non-Bickford Limited Guarantors, and (v) real property assets that are not
medical office buildings, general office buildings, skilled nursing facilities, assisted living facilities, independent living facilities, continuing care retirement communities, mental health facilities, life science facilities, and hospitals) in
an aggregate principal amount not to exceed, in the aggregate, after giving effect to any such Investment, twenty percent (20%) of the Aggregate Total Fixed Asset Value of the Borrower and its Subsidiaries (excluding amounts properly
attributable to Minority Interests); provided that, after giving effect to any such Investment and any Indebtedness incurred in connection therewith, the Borrower shall be in compliance, on a Pro Forma Basis, with each financial covenant
contained in Section 6.12 hereof; provided further that, prior to the consummation of any such Investment involving aggregate consideration with respect thereto in excess of $25,000,000, the Borrower shall deliver to the
Administrative Agent a certification, together with financial and other information in detail reasonably requested by the Administrative Agent, (A) demonstrating such compliance and (B) certifying that no Default will exist either
immediately before or after giving effect to the consummation of any such Investment; 
 provided that (i) any Investment in the form of an
intercompany loan or advance pursuant to this Section 7.2 in any non-Wholly Owned Subsidiary of the Borrower shall be evidenced by a promissory note and (ii) for purposes of determining the amount of any Investment outstanding for
purposes of this Section 7.2, such amount shall be deemed to be the amount of such Investment when made, purchased or acquired (without adjustment for subsequent increases or decreases in the value of such Investment) less any amount
realized in respect of such Investment upon the sale, collection or return of capital (not to exceed the original amount invested). 

SECTION 7.3 INDEBTEDNESS. Create, incur, assume or suffer to exist any Indebtedness, except: 

(a) Indebtedness under the Loan Documents and Related Credit Arrangements; 

(b) Guarantees of any Loan Party in respect of Indebtedness otherwise permitted hereunder of any other Loan Party (other than a Limited
Guarantor); 

  
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 (c) obligations (contingent or otherwise) of the Borrower or any Subsidiary existing or arising
under any Swap Contract (other than any Related Swap Contracts); provided that such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with
liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person and not for purposes of speculation or taking a “market view;” 

(d) Indebtedness of any Loan Party (other than a Limited Guarantor) owing to any other Loan Party (which Indebtedness shall be evidenced by a
promissory note and subordinated to the Obligations on terms satisfactory to the Administrative Agent to the extent required by the Administrative Agent); 

(e) Indebtedness existing on the Closing Date and listed on Schedule 7.3, and the renewal, refinancing, extension and replacement (but
not the increase in the aggregate principal amount) thereof; 
 (f) Indebtedness incurred in connection with Capitalized Leases and purchase
money Indebtedness in an aggregate amount not to exceed $30,000,000 at any time outstanding; 
 (g) unsecured intercompany Indebtedness:

 (i) owed by any Loan Party (other than a Non-Bickford Limited Guarantor) to another Loan Party; provided that
any Indebtedness owed by any Loan Party (other than a Limited Guarantor) to a Limited Guarantor shall be subordinated to the Obligations in a manner reasonably satisfactory to the Administrative Agent; 

(ii) owed by any Non-Bickford Limited Guarantor to another Non-Bickford Limited Guarantor; 

(iii) owed by any Loan Party to any non-Wholly Owned Subsidiary of the Borrower that is not a Loan Party; provided
that such Indebtedness shall be subordinated to the Obligations in a manner reasonably satisfactory to the Administrative Agent; and 

(iv) owed by any non-Wholly Owned Subsidiary of the Borrower that is not a Loan Party to any other non-Wholly Owned Subsidiary
of the Borrower that is not a Loan Party; 
 (h) Indebtedness arising from the honoring by a bank or other financial institution of a check,
draft or other similar instrument drawn against insufficient funds in the ordinary course of business; and 
 (i) other Indebtedness not
otherwise permitted pursuant to this Section 7.3; provided that, after giving effect to any such Indebtedness, the Borrower shall be in compliance, on a Pro Forma Basis, with each financial covenant contained in
Section 6.12 hereof; provided further that, prior to the creation, incurrence, assumption or suffering to exist of any such Indebtedness in excess of $25,000,000, the Borrower shall deliver to the Administrative Agent a
certification, together with financial and other information in detail reasonably requested by the Administrative Agent, (A) demonstrating such compliance and (B) certifying that no Default will exist either immediately before or after
giving effect to any such Indebtedness; 
 provided that any Indebtedness pursuant to this Section 7.3 of any non-Wholly Owned Subsidiary
of the Borrower to any Loan Party shall be evidenced by a promissory note. 

  
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 SECTION 7.4 FUNDAMENTAL CHANGES. Merge, dissolve, liquidate, consolidate with or into, another
Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that: 

(a) so long as no Default or Event of Default exists or would result therefrom: any Subsidiary may merge with (i) the Borrower;
provided that the Borrower shall be the continuing or surviving Person, or (ii) any one or more other Subsidiaries; provided that (A) when any Wholly Owned Subsidiary is merging with another Subsidiary, the Wholly Owned
Subsidiary shall be the continuing or surviving Person, (B) when any Loan Party (other than a Limited Guarantor) is merging with another Subsidiary, a Loan Party (other than a Limited Guarantor) shall be the continuing or surviving Person,
(C) when any Limited Guarantor is merging with another Subsidiary, a Loan Party shall be the continuing or surviving Person and (D) any Excluded Subsidiary may merge with any other Excluded Subsidiary or Person that, after such merger,
will be an Excluded Subsidiary; 
 (b) any Subsidiary may Dispose of all or substantially all of its assets (upon voluntary liquidation or
otherwise) to any Loan Party (other than a Limited Guarantor); provided that if the transferor in such a transaction is a Wholly Owned Subsidiary (other than in the case of any Excluded Subsidiary), then the transferee must also be a Wholly
Owned Subsidiary; and 
 (c) the Borrower or any Subsidiary may merge with any Person in order to consummate any Acquisition or other
Investment permitted hereby; provided (i) in the case of any merger involving the Borrower, the Borrower shall be the surviving Person and (ii) in any other case, a Wholly Owned Subsidiary or an Excluded Subsidiary shall be the
surviving Person of such merger. 
 SECTION 7.5 DISPOSITIONS. Make any Disposition or enter into any agreement to make any Disposition,
except: 
 (a) Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of business;

 (b) Dispositions of inventory in the ordinary course of business; 

(c) Dispositions of equipment or real property to the extent that (i) such property is exchanged for credit against the purchase price of
similar replacement property, or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement property; 

(d) Dispositions of property by any Subsidiary to the Borrower or to a Wholly Owned Subsidiary; provided that if the transferor of such
property is a Loan Party, the transferee thereof must be a Loan Party (other than a Limited Guarantor); 
 (e) Dispositions permitted by
Section 7.4; and 
 (f) other Dispositions of assets not otherwise permitted by clauses (a) through (e), the result of
which, after taking such Disposition into account, would not trigger a Default under any financial covenant contained in Section 6.12 hereof; provided, that, prior to the consummation of any Disposition involving aggregate
consideration with respect to such Disposition in excess of $25,000,000, the Borrower shall deliver to the Administrative Agent a certification, together with financial and other information in detail reasonably requested by the Administrative Agent
to demonstrate, that no Default or Event of Default (whether under Section 6.12 or otherwise) will exist either immediately before or immediately after giving effect thereto; 

  
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 provided, further, that any Disposition pursuant to clauses (a), (b), (c) and (f) shall
be for fair market value. 
 SECTION 7.6 CHANGE IN NATURE OF BUSINESS. Engage in any material line of business substantially different from
those lines of business conducted by the Borrower and its Subsidiaries on the date hereof and other lines of business incidental or reasonably related thereto. 

SECTION 7.7 TRANSACTIONS WITH AFFILIATES. Enter into any transaction of any kind with any Affiliate of the Borrower, whether or not in the
ordinary course of business, other than on fair and reasonable terms substantially as favorable to the Borrower or such Subsidiary as would be obtainable by the Borrower or such Subsidiary at the time in a comparable arm’s length transaction
with a Person other than an Affiliate; provided that the foregoing restriction shall not apply to transactions between or among Loan Parties (other than Limited Guarantors). 

SECTION 7.8 USE OF PROCEEDS; MARGIN REGULATIONS. 

(a) Request any Borrowing or Letter of Credit or use (nor shall the Borrower permit its or any of its Wholly Owned Subsidiaries’,
directors, officers, employees to use) the proceeds of any Borrowing or Letter of Credit (i) in payment to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities, business
or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto. 

(b) Use the proceeds of any Loan or any drawings made under a Letter of Credit, whether directly or indirectly, and whether immediately,
incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System) or to extend credit to others for the purpose of purchasing or carrying margin stock or to
refund indebtedness originally incurred for such purpose. 
 SECTION 7.9 BURDENSOME AGREEMENTS. Enter into any Contractual Obligation (other
than this Agreement or any other Loan Document) that: 
 (a) limits the ability (i) of any Subsidiary (other than an Excluded
Subsidiary) to make Restricted Payments to the Borrower or any other Loan Party or to otherwise transfer property to any Loan Party (other than restrictions on transfers of property encumbered by Permitted Liens in favor of the holders of the
Indebtedness or other obligations secured thereby), or (ii) of any Subsidiary (other than an Excluded Subsidiary) to Guarantee the Indebtedness of the Borrower pursuant to the Subsidiary Guaranty Agreement or the Limited Guaranty Agreement, as
applicable; or 
 (b) prohibits or otherwise restricts the creation or assumption of any Lien upon the properties or assets of the Borrower
or any Subsidiary (other than an Excluded Subsidiary), whether now owned or hereafter acquired, or requires the grant of any security for such obligation if security is given for some other obligation, except (i) pursuant to this Agreement and
the other Loan Documents, (ii) pursuant to any document or instrument governing Indebtedness incurred pursuant to Section 7.3(f) (provided that any such restriction contained therein relates only to the asset or assets
financed thereby), (iii) customary restrictions contained in the organizational documents of any Excluded Subsidiary and (iv) customary restrictions in connection with any Permitted Lien or any document or instrument governing any
Permitted Lien (provided that any such restriction contained therein relates only to the asset or assets subject to such Permitted Lien). 

  
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 SECTION 7.10 DISSOLUTION, ETC. Wind up, liquidate or dissolve (voluntarily or involuntarily) or
commence or suffer any proceedings seeking any such winding up, liquidation or dissolution, except (a) in connection with a merger or consolidation permitted pursuant to Section 7.4 or (b) that any Excluded Subsidiary may
dissolve itself in accordance with Applicable Law. 
 SECTION 7.11 SALE AND LEASEBACK TRANSACTIONS (AS LESSEE). Enter into any arrangement,
directly or indirectly, (as lessee) whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereinafter acquired, and thereafter rent or lease such property or other property that it
intends to use for substantially the same purpose or purposes as the property sold or transferred. 
 SECTION 7.12 AMENDMENT OF CERTAIN
AGREEMENTS. 
 (a) Amend, modify or waive any of its Organization Documents in a manner materially adverse to the Administrative Agent or
any Lender. 
 (b) Amend, modify or waive (or permit the modification or amendment of) any of the terms or provisions of the Master Lease
that would adversely affect the rights or interests of the Administrative Agent or any Lender. 
 SECTION 7.13 RESTRICTED PAYMENTS. Make any
Restricted Payment other than (a) Restricted Payments by any Loan Party to another Loan Party (other than Limited Guarantor), (b) cash dividends necessary to qualify and maintain its qualification as a REIT and (c) so long as no
Default or Event of Default exists or will exist after giving effect thereto on the date thereof and on a pro forma basis as if such Restricted Payment occurred on the last day of the most recently ended Four-Quarter Period, other cash dividends and
cash distributions the result of which, after taking such Restricted Payment into account, would not trigger a Default under any financial covenant contained in Section 6.12 hereof. 

SECTION 7.14 ACCOUNTING CHANGES. Make any material change in accounting treatment or reporting practices, except as required by GAAP, or
change the fiscal year of the Borrower or any Subsidiary, except to change the fiscal year of a Subsidiary to confirm its fiscal year to that of the Borrower. 

ARTICLE VIII 
 EVENTS
OF DEFAULT, ETC. 
 SECTION 8.1 EVENTS OF DEFAULT. The occurrence of any of the following shall constitute an “Event of
Default” under this Agreement: 
 (a) Any Loan Party shall fail to pay (i) when due any amount of principal of any Loan,
(ii) within two (2) days after the same becomes due, any reimbursement obligation with respect to any Letter of Credit, or (iii) with five (5) days after the same becomes due, any interest on any Loan or with respect to any
obligation in respect of any Letter of Credit or any fees or other amounts payable under any of the Loan Documents. 
 (b) The Borrower
shall fail to observe or perform any covenant or agreement contained in (i) Section 6.1 or 6.2, and such failure shall continue for a period of five (5) Business Days from its occurrence or
(ii) Section 6.3(a) or (b), 6.5, 6.11, 6.12, 6.13, 6.15, 6.16 or Article VII. 

(c) Any default in the performance of or compliance with any obligation, agreement or other provision contained herein or in any other Loan
Document (other than those referred to in subsections (a) and (b) above), and with respect to any such default which by its nature can be cured, such default shall continue for a period of thirty (30) days from its occurrence. 

  
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 (d) Any financial statement or certificate furnished to the Administrative Agent or any Lender in
connection with, or any representation or warranty made by or on behalf of the Borrower or any Subsidiary under this Agreement or any other Loan Document shall prove to be incorrect, false or misleading in any material respect when furnished or
made. 
 (e) The Borrower or any Subsidiary (whether as primary obligor or as guarantor or other surety) shall fail to pay any principal of
or premium or interest on any Indebtedness (other than the Loans or any reimbursement obligation in respect of any drawings paid under a Letter of Credit) of any one or more of the Borrower or any of its Subsidiaries in an aggregate principal amount
exceeding $10,000,000 (whether singly or in the aggregate, “Material Indebtedness”) that is outstanding, when and as the same shall become due and payable (whether at scheduled maturity, required prepayment, acceleration, demand or
otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument evidencing such Material Indebtedness; or any other event shall occur or condition shall exist under any agreement or
instrument relating to such Material Indebtedness (or, with respect to any Swap Contract, any Swap Termination Value in excess of $10,000,000) and shall continue after the applicable grace period, if any, specified in such agreement or instrument,
if the effect of such event or condition is to accelerate, or permit the acceleration of, the maturity of such Material Indebtedness; or any such Material Indebtedness shall be declared to be due and payable; or required to be prepaid or redeemed
(other than by a regularly scheduled required payment or redemption), purchased or defeased, or any offer to prepay, redeem, purchase or defease such Material Indebtedness shall be required to be made, in each case prior to the stated maturity
thereof. 
 (f) One or more judgments or orders for the payment of money in excess of $10,000,000 in the aggregate (net of independent
third-party insurance as to which the insurance carrier has been notified of the claim and does not dispute the coverage of such payment) shall be rendered against the Borrower or any Subsidiary, and either (i) enforcement proceedings shall
have been commenced by any creditor upon any such judgment or order or (ii) there shall be a period of ten (10) consecutive days during which a stay of enforcement of any such judgment or order, by reason of a pending appeal or otherwise,
shall not be in effect. 
 (g) The Borrower or any Subsidiary shall (i) commence a voluntary case or other proceeding or file any
petition seeking liquidation, reorganization or other relief under any federal, state or foreign bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a custodian, trustee, receiver, liquidator or other
similar official of it or any substantial part of its property, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (h) of this Section, (iii) apply
for or consent to the appointment of a custodian, trustee, receiver, liquidator or other similar official for the Borrower or any Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a
petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors, or (vi) take any action for the purpose of effecting any of the foregoing. 

(h) An involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or
other relief in respect of the Borrower or any Subsidiary or any such Person’s debts, or any substantial part of any such Person’s assets, under any federal, state or foreign bankruptcy, insolvency or other similar law now or hereafter in
effect or (ii) the appointment of a custodian, trustee, receiver, liquidator or other similar official for the Borrower or any Subsidiary or for a substantial part of any such Person’s assets, and in any such case, such proceeding or
petition shall remain undismissed for a period of sixty (60) days or an order or decree approving or ordering any of the foregoing shall be entered. 

  
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 (i) The Borrower or any Subsidiary shall become unable to pay, shall admit in writing its
inability to pay, or shall fail to pay, its debts as they become due. 
 (j) Any Change of Control shall occur or exist. 

(k) (i) Any Material Agreement shall cease to be in full force and effect for any reason, (ii) any of the material rights of the Borrower
or any of its Subsidiaries under any Material Agreement shall be terminated or suspended, (iii) the Borrower or any of its Subsidiaries shall receive notice under any Material Agreement of the occurrence of an event which, if not cured, could
permit the termination of any Material Agreement, and such event is not cured and/or waived by the date specified in such notice as a deadline for such cure (as the same may be extended by the Person giving such notice), or, if the notice does not
contain a deadline, within forty-five (45) days from the date of such notice (or such later date as may be specified by the Person giving such notice), (iv) any proceeding or action shall otherwise be taken or commenced to renounce,
terminate or suspend any of the material rights of the Borrower or any of its Subsidiaries under any Material Agreement, or (v) any lease or leases under the Master Lease that accounted for 10% or more of gross revenues of the Borrower in the
Four-Quarter Period most recently ended are terminated, expire or are otherwise no longer in effect. 
 (l) Any provision of any Loan
Document shall for any reason cease to be valid and binding on, or enforceable against, any Loan Party, or any Loan Party shall so state in writing or seek to terminate its obligations thereunder. 

(m) (i) An ERISA Event occurs with respect to a Pension Plan which has resulted or could reasonably be expected to result in liability of the
Borrower under Title IV of ERISA to the Pension Plan or the PBGC in an aggregate amount in excess of $10,000,000, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any
installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of $10,000,000. 

SECTION 8.2 REMEDIES. If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the
consent of, the Required Lenders, take any or all of the following actions: 
 (a) declare the commitment of each Lender to make Loans and
any obligation of the Issuing Bank to issue Letters of Credit to be terminated, whereupon such commitments and obligation shall be terminated; 

(b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or
payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower; 

(c) require that the Borrower Cash Collateralize the Letter of Credit Exposure (in an amount equal to such Letter of Credit Exposure); and

 (d) exercise on behalf of itself, the Lenders and the Issuing Bank all rights and remedies available to it, the Lenders and the Issuing
Bank under the Loan Documents; 

  
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 provided, that upon the occurrence of any Event of Default described in clause (g) or (h) of
Section 8.1, the obligation of each Lender to make Loans and any obligation of the Issuing Bank to issue Letters of Credit shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other
amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the Letter of Credit Exposure as aforesaid shall automatically become effective, in each case without further act of the
Administrative Agent or any Lender. 
 SECTION 8.3 APPLICATION OF FUNDS. After the exercise of remedies provided for in
Section 8.2 (or after the Loans have automatically become immediately due and payable and the Letter of Credit Exposure has automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.2),
any amounts received on account of the Obligations shall be applied by the Administrative Agent in the following order: 
 First, to
payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the
Administrative Agent in its capacity as such; 
 Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal, interest, Letter of Credit Fees and other Obligations described in clauses Third, Fourth and Fifth below) payable to the Lenders and the Issuing Bank (including fees, charges and
disbursements of counsel to the respective Lenders and the Issuing Bank and amounts payable under Article III), ratably among them in proportion to the respective amounts described in this clause Second payable to them; 

Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans
and Related Treasury Management Arrangements, unreimbursed drawings paid under Letters of Credit and other Obligations, ratably among the Lenders and the Issuing Bank in proportion to the respective amounts described in this clause Third
payable to them; 
 Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and Related
Treasury Management Arrangements and unreimbursed drawings paid under Letters of Credit or constituting the termination value owing to any Lender or Affiliate of any Lender arising under any Related Swap Contracts, ratably among the Lenders, any
such Affiliates and the Issuing Bank in proportion to the respective amounts described in this clause Fourth held by them; 

Fifth, to the Administrative Agent for the account of the Issuing Bank, to Cash Collateralize that portion of the Letter of Credit
Exposure comprised of the aggregate undrawn amount of Letters of Credit; and 
 Last, the balance, if any, after all of the
Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required by law. 
 Subject to Section 2.5(i),
amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as cash
collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 

Notwithstanding the foregoing, Obligations arising under Related Credit Arrangements shall be excluded from the application described above if
the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the 

  
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applicable Lender or Affiliate, as the case may be. Each Guaranteed Party not a party to the Credit Agreement that has given the notice contemplated by the preceding sentence shall, by such
notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article IX hereof for itself and its Affiliates as if a “Lender” party hereto. 

ARTICLE IX 

ADMINISTRATIVE AGENT 

SECTION 9.1 APPOINTMENT AND AUTHORITY. Each of the Lenders and the Issuing Bank hereby irrevocably designates and appoints Wells Fargo to act
on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms
hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the Issuing Bank, and neither the Borrower nor any
other Subsidiary thereof shall have rights as a third party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with
reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any Applicable Law. Instead such term is used as a matter of market custom, and is intended to
create or reflect only an administrative relationship between contracting parties. 
 SECTION 9.2 RIGHTS AS A LENDER. The Person serving as
the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders”
shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money
to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent
hereunder and without any duty to account therefor to the Lenders. 
 SECTION 9.3 EXCULPATORY PROVISIONS. The Administrative Agent shall not
have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: 

(a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; 

(b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for
herein or in the other Loan Documents); provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary
to any Loan Document or Applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a
Defaulting Lender in violation of any Debtor Relief Law; and 
 (c) shall not, except as expressly set forth herein and in the other Loan
Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any
of its Affiliates in any capacity. 

  
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 The Administrative Agent shall not be liable for any action taken or not taken by it
(i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as
provided in Sections 10.1 and 8.2) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final nonappealable judgment. The Administrative Agent shall be
deemed not to have knowledge of any Default unless and until notice describing such Default is given to the Administrative Agent by the Borrower, a Lender or the Issuing Bank. 

The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any
other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Loan Documents, (v) the value or the sufficiency of any collateral, or (v) the
satisfaction of any condition set forth in Article V or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

SECTION 9.4 RELIANCE BY ADMINISTRATIVE AGENT. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been
signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability
for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the Issuing Bank, the Administrative
Agent may presume that such condition is satisfactory to such Lender or the Issuing Bank unless the Administrative Agent shall have received notice to the contrary from such Lender or the Issuing Bank prior to the making of such Loan or the issuance
of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in
accordance with the advice of any such counsel, accountants or experts. 
 SECTION 9.5 DELEGATION OF DUTIES. The Administrative Agent may
perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may
perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent
and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as the Administrative Agent. The Administrative Agent shall not be
responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that the Administrative Agent acted with gross negligence or willful
misconduct in the selection of such sub-agents. 

  
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 SECTION 9.6 RESIGNATION OF ADMINISTRATIVE AGENT. The Administrative Agent may at any time give
notice of its resignation to the Lenders, the Issuing Bank and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with, unless an Event of Default exists, the approval of the Borrower, to appoint
a successor, which shall be a Lender or bank with an office in the United States, or an Affiliate of any such bank or Lender with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall
have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of the Lenders and the Issuing Bank, appoint a successor Administrative Agent
meeting the qualifications set forth above; provided that if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective
in accordance with such notice and (a) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the
Administrative Agent on behalf of the Lenders or the Issuing Bank under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed)
and (b) except for any indemnity payments owed to the retiring Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and
the Issuing Bank directly, until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such
successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent (other than any rights to indemnity payments owed to the retiring Administrative Agent), and the
retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower to a
successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan
Documents, the provisions of this Article and Section 10.4 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to
be taken by any of them while the retiring Administrative Agent was acting as the Administrative Agent. 
 Any resignation by Wells Fargo as
the Administrative Agent pursuant to this Section shall also constitute its resignation as the Issuing Bank and Swing Line Lender. Upon the acceptance of a successor’s appointment as the Administrative Agent hereunder, (i) such successor
shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Issuing Bank and Swing Line Lender, (ii) the retiring Issuing Bank and Swing Line Lender shall be discharged from all of their respective
duties and obligations hereunder or under the other Loan Documents and (iii) the successor Issuing Bank shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other
arrangements satisfactory to the retiring Issuing Bank to effectively assume the obligations of the retiring Issuing Bank with respect to such Letters of Credit. 

SECTION 9.7 NON-RELIANCE ON ADMINISTRATIVE AGENT AND OTHER LENDERS. Each Lender and the Issuing Bank acknowledges that it has, independently
and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement.
Each Lender and the Issuing Bank also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time
to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 

  
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 SECTION 9.8 NO OTHER DUTIES, ETC. Anything herein to the contrary notwithstanding, none of the
syndication agents, documentation agents, co-agents, bookrunners, arrangers, lead arrangers or co-arrangers listed on the cover page or signature pages hereof shall have any powers, duties or responsibilities under this Agreement or any of the other
Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or the Issuing Bank hereunder. 
 SECTION 9.9
GUARANTY MATTERS. Each of the Lenders and the Issuing Bank irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Subsidiary Guarantor or Limited Guarantor from its obligations under any Loan Document if
(i) such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder, or (ii) such release is permitted pursuant to Section 2.14. Upon request by the Administrative Agent at any time, the Required Lenders
will confirm in writing the Administrative Agent’s authority to release any Subsidiary Guarantor or Limited Guarantor from its obligations under any applicable Loan Document pursuant to this Section 9.9. 

SECTION 9.10 RELATED CREDIT ARRANGEMENTS. No Guaranteed Party that obtains the benefit of the provisions of Section 8.3, or any
collateral by virtue of the provisions hereof or of any Loan Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of such collateral
(including the release or impairment of any such collateral) other than in its capacity as a Lender, the Issuing Bank or the Administrative Agent, as the case may be, and, in any such case, only to the extent expressly provided in the Loan
Documents. Notwithstanding any other provision of this Article IX to the contrary, the Administrative Agent shall be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Obligations
arising under Related Credit Arrangements only if the Administrative Agent has received written notice of such Obligations, together with such supporting documentation as the Administrative Agent may request, from the applicable Lender or Affiliate.

 ARTICLE X 

MISCELLANEOUS 

SECTION 10.1 AMENDMENTS, ETC. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any
departure by the Borrower or any other Loan Party therefrom, shall be effective unless in writing signed by the Required Lenders and the Borrower or the applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent, and
each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such amendment, waiver or consent shall: 

(a) without the prior written consent of the Required Revolving Credit Lenders, amend, modify or waive (i) Section 5.2 or any
other provision of this Agreement if the effect of such amendment, modification or waiver is to require the Revolving Credit Lenders (pursuant to, in the case of any such amendment to a provision hereof other than Section 5.2, any
substantially concurrent request by the Borrower for a Revolving Borrowing) to make Revolving Loans when such Revolving Credit Lenders would not otherwise be required to do so, (ii) the amount of the Swing Line Sublimit or (iii) the amount
of the Letter of Credit Sublimit; 
 (b) [Reserved]; 

  
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 (c) extend or increase any Commitment of any Lender (or reinstate any Commitment terminated
pursuant to Section 8.2) or the amount of Loans of any Lender, in any case, without the written consent of such Lender; 
 (d)
modify the definition of “Revolving Credit Maturity Date” (except in accordance with Section 2.18), “Term A-1 Loan Maturity Date”, “Term A-2 Loan Maturity Date”, “Term A-4 Loan Maturity Date”, or
otherwise waive, extend or postpone any date fixed by this Agreement or any other Loan Document for any payment (excluding mandatory prepayments) of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under
such other Loan Document without the written consent of each Lender directly and adversely affected thereby; 
 (e) reduce the principal of,
or the rate of interest specified herein on, any Loan or any unreimbursed drawing paid under a Letter of Credit, or (subject to clause (iv) of the second proviso to this Section 10.1) any fees or other amounts payable hereunder or
under any other Loan Document without the written consent of each Lender directly and adversely affected thereby; provided that only the consent of the Required Lenders shall be necessary (i) to amend the definition of “Default
Rate” or to waive any obligation of the Borrower to pay interest or Letter of Credit Fees at the Default Rate or (ii) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would
be to reduce the rate of interest on any Loan or any unreimbursed drawing paid under a Letter of Credit or to reduce any fee payable hereunder; 

(f) change Section 2.8(c) or Section 8.3 in a manner that would alter the pro rata sharing of Revolving Credit
Commitment reductions or payments required thereby without the written consent of each Lender directly and adversely affected thereby; 

(g) change any provision of this Section 10.1 or the definition of “Required Lenders”, “Required Revolving Credit
Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of
each Lender; 
 (h) release all or a material portion of the value of the Subsidiary Guaranty Agreement or the Limited Guaranty Agreement,
without the written consent of each Lender (except to the extent the release of any Subsidiary Guarantor from the Subsidiary Guaranty Agreement or any Limited Guarantor from the Limited Guaranty Agreement, as applicable, is permitted pursuant to
Section 9.9, in which case such release may be made by the Administrative Agent acting alone); 
 and provided, further, that
(i) no amendment, waiver or consent shall, unless in writing and signed by the Issuing Bank in addition to the Lenders required above, affect the rights or duties of the Issuing Bank under this Agreement or any Letter of Credit Agreement,
(ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement, (iii) no amendment,
waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document, (iv) any
Engagement Letter as may be separately agreed to among the Borrower and Wells Fargo Securities may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto and (v) the Administrative Agent and the
Borrower shall be permitted to amend any provision of the Loan Documents (and such amendment shall become effective without any further action or consent of any other party to any Loan Document) if the Administrative Agent and the Borrower shall
have jointly identified an obvious error or any error or omission of a technical or immaterial nature in any such provision. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any
amendment, waiver or consent hereunder, except that the Revolving Credit Commitment of such Lender may not be increased or extended without the consent of such Lender. 

  
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 Notwithstanding anything in this Agreement to the contrary, each Lender hereby irrevocably authorizes the
Administrative Agent on its behalf, and without further consent, to enter into amendments or modifications to this Agreement (including, without limitation, amendments to this Section 10.1) or any of the other Loan Documents or to enter
into additional Loan Documents as the Administrative Agent reasonably deems appropriate in order to effectuate the terms of Section 2.17 (including, without limitation, as applicable, (1) to permit the Incremental Revolving Credit
Increases and the Incremental Term Loans to share ratably in the benefits of this Agreement and the other Loan Documents and (2) to include the Incremental Revolving Credit Commitments and Incremental Term Loan Commitments, or outstanding
Incremental Revolving Credit Increases and outstanding Incremental Term Loans, in any determination of (i) Required Lenders or Required Revolving Credit Lenders, as applicable, (ii) similar required lender terms applicable thereto);
provided that no amendment or modification shall result in any increase in the amount of any Lender’s Commitment or any increase in any Lender’s Applicable Percentage, in each case, without the written consent of such affected
Lender. 
 SECTION 10.2 NO WAIVER; CUMULATIVE REMEDIES. No failure by any Lender, the Issuing Bank or the Administrative Agent to exercise,
and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are cumulative and not
exclusive of any rights, remedies, powers and privileges provided by law. 
 Notwithstanding anything to the contrary contained herein or in any other Loan
Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement
shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.2 for the benefit of all the Lenders and the Issuing Bank; provided, however, that the foregoing shall not prohibit
(a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as the Administrative Agent) hereunder and under the other Loan Documents, (b) the Issuing Bank or the
Swing Line Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as the Issuing Bank or the Swing Line Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from
exercising setoff rights in accordance with Section 10.13 (subject to the terms of Section 2.16), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a
proceeding relative to any Loan Party under any petition in bankruptcy or the commencement of any insolvency, reorganization or like proceeding; and provided, further, that if at any time there is no Person acting as Administrative
Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.2 and (ii) in addition to the matters set forth in
clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.16 any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders.

  
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 SECTION 10.3 NOTICES GENERALLY. 

(a) Notice Addresses. Except in the case of notices and other communications expressly permitted to be given by telephone (and except
as provided in paragraphs (b) and (d) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by
facsimile as follows: 
 (i) if to the Borrower, to it at 225 Robert Rose Drive, Murfreesboro, Tennessee 37129, Attention of Justin
Hutchens, Chief Executive Officer (Facsimile No.: (615) 225-3030; email: jhutchens@nhinvestors.com), with a copy to Harwell Howard Hyne Gabbert & Manner, P.C., 333 Commerce Street, Suite 1500, Nashville, TN 37201, Attention of
John Brittingham, Esq.; 
 (ii) if to the Administrative Agent or to Wells Fargo, in its capacity as the Issuing Bank, to Wells Fargo at MAC
D1109-019, 1525 West W.T. Harris Blvd., Charlotte, NC 28262, Attention of Syndication Agency Services (Telephone No.: (704) 590-2703; Facsimile No.: (704) 590-3481), with copy to Wells Fargo at 301 S. College Street, 14th Floor; D1053-150,
Charlotte, NC 28202, Attention of Josh Carson (Telephone No.: (704) 715-4506; Facsimile No.: (704) 715-1438); and 
 (iii) if to a
Lender, to it at its address set forth on the Register. 
 Notices sent by hand or overnight courier service, or mailed by certified or registered mail,
shall be deemed to have been given when received; notices sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of
business on the next business day for the recipient). Notices delivered through electronic communications to the extent provided in paragraph (b) below, shall be effective as provided in said paragraph (b). 

(b) Electronic Communications. Notices and other communications to the Lenders and the Issuing Bank hereunder may be delivered or
furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices to any Lender or the Issuing Bank
pursuant to Article II if such Lender or the Issuing Bank, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower
may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or
communications. 
 Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address
shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement); provided
that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient, and
(ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such
notice or communication is available and identifying the website address therefor. 
 (c) Change of Address, Etc. Any party hereto
may change its address or telecopier number for notices and other communications hereunder by notice to the other parties hereto. 
 (d)
Platform. The Borrower agrees that the Administrative Agent may make any material delivered by the Borrower to the Administrative Agent, as well as any amendments, waivers, consents, and other written information, documents, instruments and
other materials relating to the Borrower, any of its Subsidiaries, or any other materials or matters relating to this Agreement, the Notes or any of the transactions contemplated hereby (collectively, the “Communications”) available
to the Lenders by 

  
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posting such notices on an electronic delivery system (which may be provided by the Administrative Agent, an Affiliate of the Administrative Agent, or any Person that is not an Affiliate of the
Administrative Agent), such as IntraLinks, DebtX, SyndTrak Online or a substantially similar electronic system (the “Platform”); provided, that no Default or Event of Default shall exist hereunder or under any Loan Document
solely as a result of any delay or failure of delivery of Communications made available to Lenders by delivery to the Administrative Agent for posting on the Platform. The Borrower acknowledges that (i) the distribution of material through an
electronic medium is not necessarily secure and that there are confidentiality and other risks associated with such distribution, (ii) the Platform is provided “as is” and “as available” and (iii) neither the
Administrative Agent nor any of its Affiliates warrants the accuracy, completeness, timeliness, sufficiency, or sequencing of the Communications posted on the Platform. The Administrative Agent and its Affiliates expressly disclaim with respect to
the Platform any liability for errors in transmission, incorrect or incomplete downloading, delays in posting or delivery, or problems accessing the Communications posted on the Platform and any liability for any losses, costs, expenses or
liabilities that may be suffered or incurred in connection with the Platform. No warranty of any kind, express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a particular purpose, non-infringement
of third party rights or freedom from viruses or other code defects, is made by the Administrative Agent or any of its Affiliates in connection with the Platform. 

Each Lender agrees that notice to it (as provided in the next sentence) (a “Notice”) specifying that any Communication has
been posted to the Platform shall for purposes of this Agreement constitute effective delivery to such Lender of such information, documents or other materials comprising such Communication. Each Lender agrees (i) to notify, on or before the
date such Lender becomes a party to this Agreement, the Administrative Agent in writing of such Lender’s e-mail address to which a Notice may be sent (and from time to time thereafter to ensure that the Administrative Agent has on record an
effective e-mail address for such Lender) and (ii) that any Notice may be sent to such e-mail address. 
 SECTION 10.4 EXPENSES,
INDEMNITY; DAMAGE WAIVER. 
 (a) Costs and Expenses. The Borrower and any other Loan Party, jointly and severally, shall pay
(i) all reasonable out of pocket expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent), in connection with the syndication of the
credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or
not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out of pocket expenses incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any
demand for payment thereunder and (iii) all out of pocket expenses incurred by the Administrative Agent, any Lender or the Issuing Bank (including the fees, charges and disbursements of any counsel for the Administrative Agent, any Lender or
the Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made or
Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

(b) Indemnification by the Borrower. The Borrower and each other Loan Party shall indemnify the Administrative Agent (and any sub-agent
thereof), each Lender and the Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, and shall pay or reimburse any such
Indemnitee for, any and all losses, claims, damages, liabilities and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any

  
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Indemnitee by any third party or by the Borrower or any other Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby,
(ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand
do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental
Liability related in any way to the Borrower or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory,
whether brought by a third party or by the Borrower, any other Loan Party or any Subsidiary thereof, and regardless of whether any Indemnitee is a party thereto, or (v) any claim, investigation, litigation or other proceeding (whether or not
the Administrative Agent or any Lender is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Loans, this Agreement, any other Loan Document, or any documents contemplated by or referred to
herein or therein or the transactions contemplated hereby or thereby, including without limitation, reasonable attorneys and consultant’s fees; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that
such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or
(y) result from a claim brought by the Borrower, any other Loan Party or any Subsidiary thereof against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrower,
such Loan Party or such Subsidiary has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. 

(c) Reimbursement by Lenders. To the extent that the Borrower and each other Loan Party for any reason fails to indefeasibly pay any
amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the Issuing Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the
Administrative Agent (or any such sub-agent), the Issuing Bank or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of
such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent) or the
Issuing Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) or the Issuing Bank in connection with such capacity. The obligations of the Lenders under this
paragraph (c) are subject to the provisions of Section 2.15(d). 
 (d) Waiver of Consequential Damages, Etc. To the
fullest extent permitted by Applicable Law, the Borrower and each other Loan Party shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as
opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or
Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in paragraph (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through
telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby. 

  
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 (e) Payments. All amounts due under this Section shall be payable not later than ten
(10) days after demand therefor. 
 (f) Survival. The agreements in this Section shall survive the resignation of the
Administrative Agent, the Issuing Bank and the Swing Line Lender, the replacement of any Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all the other Obligations. 

SECTION 10.5 SUCCESSORS, ASSIGNMENT. 

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns permitted hereby, except that neither the Borrower nor any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the
Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of paragraph (b) of this Section, (ii) by way
of participation in accordance with the provisions of paragraph (d) of this Section or (iii) by way of pledge or assignment of a security interest subject to the restrictions of paragraph (f) of this Section (and any other attempted
assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby, Participants to the extent provided in paragraph (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or
claim under or by reason of this Agreement. 
 (b) Assignments by Lenders. Any Lender may at any time assign to one or more assignees
all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the
time owing to it or contemporaneous assignments to related Approved Funds that equal at least the amount specified in paragraph (b)(i)(B) of this Section in the aggregate or in the case of an assignment to a Lender, an Affiliate of a Lender or an
Approved Fund, no minimum amount need be assigned; and 
 (B) in any case not described in paragraph (b)(i)(A) of this
Section, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to
each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date)
shall not be less than $5,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided
that the Borrower shall be deemed to have given its consent five (5) Business Days after the date written notice thereof has been delivered by the assigning Lender (through the Administrative Agent) unless such consent is expressly refused by
the Borrower prior to such fifth (5th) Business Day. 

  
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 (ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a
proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loan or the Commitment assigned, except that this clause (ii) shall not apply to the Swing Line Lender’s rights and
obligations in respect of Swing Line Loans. 
 (iii) Required Consents. No consent shall be required for any assignment except to the
extent required by paragraph (b)(i)(B) of this Section and, in addition: 
 (A) the consent of the Borrower (such consent not
to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment; or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund;
provided that the Borrower shall be deemed to have consented to any such proposed assignment unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof;

 (B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if
such assignment is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender; 

(C) the consent of the Issuing Bank (such consent not to be unreasonably withheld or delayed) shall be required for any
assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding); and 

(D) the consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required for any
assignment in respect of the Revolving Credit Facility. 
 (iv) Assignment and Assumption. The parties to each assignment shall
execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500, provided that the Administrative Agent may, in its sole discretion, elect to waive such processing and
recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 

(v) No Assignment to Certain Persons. No such assignment shall be made to (A) the Borrower or any of the Borrower’s
Affiliates or Subsidiaries, (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B) or (C) Sycamore
Street, LLC or any of its Subsidiaries or Affiliates. 
 (vi) No Assignment to Natural Persons. No such assignment shall be made to a
natural person. 
 (vii) Certain Additional Payments. In connection with any assignment of rights and obligations of any Defaulting
Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate
amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and

  
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the Administrative Agent, the applicable pro rata share of Loans previously requested, but not funded by, the Defaulting Lender, to each of which the applicable assignee and
assignor hereby irrevocably consent), to (A) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the Issuing Bank, the Swing Line Lender and each other Lender hereunder (and interest
accrued thereon), and (B) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with its Revolving Credit Applicable Percentage.
Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under Applicable Law without compliance with the provisions of this paragraph, then the assignee of
such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 
 Subject to
acceptance and recording thereof by the Administrative Agent pursuant to paragraph (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement
and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and
Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party
hereto) but shall continue to be entitled to the benefits of Article III and Section 10.4 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided that except to the extent
otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with
paragraph (d) of this Section. 
 (c) Register. The Administrative Agent, acting solely for this purpose as an agent of the
Borrower, shall maintain at one of its offices in Charlotte, North Carolina a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal
amounts (and stated interest) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, absent manifest error, and the Borrower, the
Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower
and any Lender (but only to the extent of entries in the Register that are applicable to such Lender), at any reasonable time and from time to time upon reasonable prior notice. 

(d) Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell
participations to any Person (other than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under
this Agreement (including all or a portion of its Commitment and/or the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent, the Lenders, the Issuing Bank and the Swing Line Lender shall continue to deal solely and directly with such
Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 10.4(c) with respect to any payments made by such
Lender to its Participant(s). 

  
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 Any agreement or instrument pursuant to which a Lender sells such a participation shall provide
that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not,
without the consent of the Participant, agree to any amendment, modification or waiver requiring the unanimous consent of the Lenders under Section 10.1 that directly affects such Participant. Subject to paragraph (e) of this
Section, the Borrower agrees that each Participant shall be entitled to the benefits of Article III to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the
extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.13 as though it were a Lender, provided such Participant agrees to be subject to Section 2.16 as though it were a Lender. Each
Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each
Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register
(including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such
disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be
conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the
avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

(e) Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment under Sections 3.1
and 3.2 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written
consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.2 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for
the benefit of the Borrower, to comply with Section 3.2(e) as though it were a Lender. 
 (f) Certain Pledges. Any Lender
may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided
that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

SECTION 10.6 TREATMENT OF CERTAIN INFORMATION; CONFIDENTIALITY. Each of the Administrative Agent, the Lenders and the Issuing Bank agrees to
maintain the confidentiality of the Information (as defined below) while any Commitments are in effect, except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers,
employees, agents, advisors and other representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential),
(b) to the extent requested by any regulatory authority purporting to have jurisdiction over it (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by
Applicable Law or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating
to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any permitted

  
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assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its
advisors) to any swap or derivative transaction relating to the Borrower and its obligations, (g) with the consent of the Borrower or (h) to the extent such Information (x) becomes publicly available other than as a result of a breach
of this Section or (y) becomes available to the Administrative Agent, any Lender, the Issuing Bank or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower. 

For purposes of this Section, “Information” means all information received from the Borrower or any of its Subsidiaries relating to
the Borrower or any of its Subsidiaries or any of their respective businesses, other than any such information that is available to the Administrative Agent, any Lender or the Issuing Bank on a nonconfidential basis prior to disclosure by the
Borrower or any of its Subsidiaries; provided that, in the case of information received from the Borrower or any of its Subsidiaries after the date hereof, such information is clearly identified as confidential. Any Person required to
maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as
such Person would accord to its own confidential information. 
 SECTION 10.7 NO THIRD PARTY BENEFICIARIES. This Agreement is made and
entered into for the sole protection and benefit of the parties hereto and their respective permitted successors and assigns, and no other Person or entity shall be a third party beneficiary of, or have any direct or indirect cause of action or
claim in connection with, this Agreement or any other of the Loan Documents to which it is not a party. 
 SECTION 10.8 TIME. Time is of the
essence of each and every provision of this Agreement and each other of the Loan Documents. 
 SECTION 10.9 SEVERABILITY OF PROVISIONS. If
any provision of this Agreement shall be prohibited by or invalid under Applicable Law, such provision shall be ineffective only to the extent of such prohibition or invalidity without invalidating the remainder of such provision or any remaining
provisions of this Agreement. 
 SECTION 10.10 COUNTERPARTS; INTEGRATION; EFFECTIVENESS; ELECTRONIC EXECUTION. 

(a) Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in
different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents and any separate letter agreements with respect to fees payable
to the Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as
provided in Section 5.1, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the
signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or electronic transmission (including .PDF file) shall be effective as delivery of a manually executed counterpart
of this Agreement. 
 (b) Electronic Execution of Assignments. The words “execution,” “signed,”
“signature,” and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the 

  
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case may be, to the extent and as provided for in any Applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and
Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 
 SECTION 10.11 GOVERNING LAW; JURISDICTION;
ETC. 
 (a) Governing Law. This Agreement shall be governed by, and construed in accordance with, the law of the State of New York.

 (b) Submission to Jurisdiction. The Borrower irrevocably and unconditionally submits, for itself and its property, to the
exclusive jurisdiction of the courts of the State of New York sitting in Manhattan and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or
relating to this Agreement or any other Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard
and determined in such New York State court or, to the fullest extent permitted by Applicable Law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or in any other Loan Document shall affect any right that the Administrative Agent, any Lender or the Issuing Bank may
otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against the Borrower or its properties in the courts of any jurisdiction. 

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

(d) Service of Process. Each party hereto irrevocably consents to service of process in the manner provided for notices in
Section 10.3. Nothing in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by Applicable Law. 

SECTION 10.12 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER
AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

SECTION 10.13 RIGHT OF SET OFF. If an Event of Default shall have occurred and be continuing, each Lender, the Issuing Bank, and each of their
respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by Applicable Law, to set off and apply any 

  
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and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender,
the Issuing Bank or any such Affiliate to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement or any other Loan Document to such Lender or the Issuing
Bank, irrespective of whether or not such Lender or the Issuing Bank shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower may be contingent or unmatured or are owed to a branch or
office of such Lender or the Issuing Bank different from the branch or office holding such deposit or obligated on such indebtedness. The rights of each Lender, the Issuing Bank and their respective Affiliates under this Section are in addition to
other rights and remedies (including other rights of setoff) that such Lender, the Issuing Bank or their respective Affiliates may have. Each Lender and the Issuing Bank agrees to notify the Borrower and the Administrative Agent promptly after any
such setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff and application. 

SECTION 10.14 PERFORMANCE OF DUTIES. Each of the Loan Party’s obligations under this Agreement and each of the other Loan Documents shall
be performed by such Loan Party at its sole cost and expense. 
 SECTION 10.15 ALL POWERS COUPLED WITH AN INTEREST. All powers of attorney
and other authorizations granted to the Lenders, the Administrative Agent and any Persons designated by the Administrative Agent or any Lender pursuant to any provisions of this Agreement or any of the other Loan Documents shall be deemed coupled
with an interest and shall be irrevocable so long as any of the Obligations remain unpaid or unsatisfied, any of the Commitments remain in effect or the Credit Facility has not been terminated. 

SECTION 10.16 TITLES AND CAPTIONS. Titles and captions of Articles, Sections and subsections in, and the table of contents of, this Agreement
are for convenience only, and neither limit nor amplify the provisions of this Agreement. 
 SECTION 10.17 SURVIVAL. All covenants,
agreements, representations and warranties made by the Borrower herein and in the certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto
and shall survive the execution and delivery of this Agreement and the making of any Loans or the issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the
Administrative Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any
accrued interest on any Loan or any drawing paid under a Letter of Credit or any fee or any other amount payable under this Agreement is outstanding and unpaid and so long as any Commitment has not expired or terminated. All representations and
warranties made herein, in the certificates, reports, notices, and other documents delivered pursuant to this Agreement shall survive the execution and delivery of this Agreement and the other Loan Documents, and the making of the Loans or the
issuance of the Letters of Credit. 
 SECTION 10.18 USURY. In no event shall the amount of interest due or payable under this Agreement or
any other Loan Document exceed the maximum rate of interest allowed by Applicable Law and, in the event any such payment is inadvertently paid by the Borrower or inadvertently received by the Administrative Agent or any Lender, then such excess sum
shall be credited as a payment of principal, or, if it exceeds such unpaid principal, refunded to the Borrower. It is the express intent of the parties hereto that the Borrower not pay and neither the Administrative Agent nor any Lender receive,
directly or indirectly, in any manner whatsoever, interest in excess of that which may be lawfully paid by the Borrower under Applicable Law. 

  
 92 

 SECTION 10.19 USA PATRIOT ACT NOTICE. The Administrative Agent and each Lender hereby notifies
the Borrower that pursuant to the requirements of the PATRIOT Act, it is required to obtain, verify and record information that identifies the Borrower and the other Loan Parties, which information includes the name and address of the Borrower and
each other Loan Party and other information that will allow such Lender to identify the Borrower or such Loan Party in accordance with the PATRIOT Act. 

SECTION 10.20 REPLACEMENT OF LENDERS. 

(a) Each of the following shall constitute a “Replacement Event”: 

(i) if in connection with any proposed change, waiver, discharge or termination of or to any of the provisions of this Agreement and/or any
other Loan Document as contemplated by Section 10.1, the consent of each Lender or each affected Lender, as applicable, is required and the consent of the Required Lenders at such time is obtained but the consent of one or more of such
other Lenders whose consent is required is not obtained (each such other Lender, a “Non-Consenting Lender”); 
 (ii) if any
Lender is a Defaulting Lender; or 
 (iii) if any Lender requests compensation under Section 3.1 and the condition giving rise
to such compensation still exists (each such Lender, an “Affected Lender”). 
 (b) For so long as any Replacement Event
exists, the Borrower may seek one or more Eligible Assignees (each, a “Replacement Lender”) at its sole cost and expense to purchase the affected Loans and Commitments of the Non-Consenting Lender or Affected Lender, as the case may
be (such Lender, the “Replaced Lender”). Such purchase may be made, in whole or in part (subject to the minimum amount requirements in Section 10.5 and a requirement that the Replacement Lender assume a portion of the
Commitment of the Replaced Lender that corresponds to the purchased portion of the Loans of such Replaced Lender), at an aggregate price no less than the outstanding principal amount of the purchased Loans plus accrued interest with respect
thereto. In such case, the Borrower, the Administrative Agent, the Replaced Lender and each Replacement Lender shall execute and deliver an appropriately completed Assignment and Assumption pursuant to Section 10.5 to effect the
assignment of rights to, and the assumption of obligations by, each Replacement Lender; provided that any fees required to be paid by Section 10.5 in connection with such assignment shall be paid by the Borrower or the Replacement
Lender. In the case of each replacement of a Lender (other than a Defaulting Lender), the Borrower shall pay such Replaced Lender, any commitment fees and other amounts then due and owing to such Lender (including any additional amounts owing under
Section 3.1) prior to such replacement. 
 (c) If a Replaced Lender does not execute and deliver to the Administrative Agent a
duly completed Assignment and Assumption and/or any other documentation necessary to reflect such replacement within a period of time deemed reasonable by the Administrative Agent after the later of (x) the date on which each Replacement Lender
executes and delivers such Assignment and Assumption and/or such other documentation and (y) the date as of which all obligations of the Borrower owing to the Replaced Lender relating to the Loans and participations so assigned have been paid
in full by each Replacement Lender to such Replaced Lender, then such Replaced Lender shall be deemed to have executed and delivered such Assignment and Assumption and/or such other documentation as of such date and the Borrower shall be entitled
(but not obligated) to execute and deliver such Assignment and Assumption and/or such other documentation on behalf of such Replaced Lender. 

(d) Notwithstanding anything herein, neither the Administrative Agent nor any Lender shall have any obligation to the Borrower to find a
Replacement Lender. 

  
 93 

 SECTION 10.21 INDEPENDENT EFFECT OF COVENANTS. The Borrower expressly acknowledges and agrees
that each covenant contained in Articles VI or VII hereof shall be given independent effect. Accordingly, the Borrower shall not engage in any transaction or other act otherwise permitted under any covenant contained in Articles
VI or VII, before or after giving effect to such transaction or act, the Borrower shall or would be in breach of any other covenant contained in Articles VI or VII. 

SECTION 10.22 REVERSAL OF PAYMENTS. To the extent any Loan Party makes a payment or payments to the Administrative Agent for the ratable
benefit of the Lenders or the Administrative Agent receives any payment which payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any
other party under any Debtor Relief Law, other Applicable Law or equitable cause, then, to the extent of such payment repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such
payment or proceeds had not been received by the Administrative Agent. 
 SECTION 10.23 INCONSISTENCIES WITH OTHER DOCUMENTS. In the event
there is a conflict or inconsistency between this Agreement and any other Loan Document, the terms of this Agreement shall control; provided that any provision of the Subsidiary Guaranty Agreement or the Limited Guaranty Agreement which
imposes additional burdens on the Borrower or any of its Subsidiaries or further restricts the rights of the Borrower or any of its Subsidiaries or gives the Administrative Agent or Lenders additional rights shall not be deemed to be in conflict or
inconsistent with this Agreement and shall be given full force and effect. 
 SECTION 10.24 AMENDMENT AND RESTATEMENT; NO NOVATION. This
Agreement constitutes an amendment and restatement of the Existing Credit Agreement effective from and after the Closing Date. The execution and delivery of this Agreement shall not constitute a novation of any indebtedness or other obligations
owing to the Lenders or the Administrative Agent under the Existing Credit Agreement based on facts or events occurring or existing prior to the execution and delivery of this Agreement. On the Closing Date, the credit facilities described in the
Existing Credit Agreement shall be amended, supplemented, modified and restated in their entirety by the facilities described herein, and all loans and other obligations of the Borrower outstanding as of such date under the Existing Credit
Agreement, as amended, shall be deemed to be loans and obligations outstanding under the corresponding facilities described herein, without any further action by any Person, except that the Administrative Agent shall make such transfers of funds as
are necessary in order that the outstanding balance of such Loans, together with any Loans funded on the Closing Date, reflect the respective Commitments and Loans of the Lenders hereunder. 

[Signature Pages Follow] 

  
 94 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed under seal as of
the day and year first written above. 
  

			
	 BORROWER:

	
	 NATIONAL HEALTH INVESTORS, INC.,
 a
Maryland corporation

		
	By:	 	 /s/ J. Justin Hutchens

	Name:	 	 J. Justin Hutchens

	Title:	 	 CEO & President

 National Health Investors, Inc. 

Third Amended and Restated Credit Agreement 

Signature Page 

			
	 ADMINSTRATIVE AGENT:

	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent
		
	By:	 	 /s/ Darin Mullis

	Name:	 	Darin Mullis
	Title:	 	Director

 National Health Investors, Inc. 

Third Amended and Restated Credit Agreement 

Signature Page 

			
	 LENDERS:

	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION, as Lender, Issuing Bank, and

Swing Line Lender

		
	By:	 	 /s/ Darin Mullis

	Name:	 	 Darin Mullis

	Title:	 	 Director

 National Health Investors, Inc. 

Third Amended and Restated Credit Agreement 

Signature Page 

			
	Bank of America, N.A., as Lender
		
	By:	 	 /s/ Suzanne B. Smith

	Name:	 	 Suzanne B. Smith

	Title:	 	 Senior Vice President

			
	JPMORGAN CHASE BANK, N.A., as Lender
		
	By:	 	 /s/ Marc Costantino

	Name:	 	Marc Costantino
	Title:	 	Executive Director

 
			
	Bank of Montreal, as Lender
		
	By:	 	 /s/ Lloyd Baron

	Name:	 	 Lloyd Baron

	Title:	 	 Vice President

 
			
	KEYBANK NATIONAL ASSOCIATION, as Lender
		
	By:	 	 /s/ Amy L. MacLearie

	Name:	 	 Amy L. MacLearie

	Title:	 	 AVP-Senior Closing Officer

 
			
	Regions Bank, as Lender
		
	By:	 	 /s/ Michael Kinnick

	Name:	 	 Michael Kinnick

	Title:	 	 Vice President

 
			
	CAPITAL ONE, NATIONAL ASSOCIATION, as Lender
		
	By:	 	 /s/ Keith M. Kodrin

	Name:	 	 Keith M. Kodrin

	Title:	 	 Authorized Signatory

 National Health Investors, Inc. 

Third Amended and Restated Credit Agreement 

Signature Page 

			
	Pinnacle Bank, as Lender
		
	By:	 	 /s/ Ed White

	Name:	 	 Ed White

	Title:	 	 E.V.P.

 National Health Investors, Inc. 

Third Amended and Restated Credit Agreement 

Signature Page 

 
			
	United Community Bank, as Lender
		
	By:	 	 /s/ Julie Varner

	Name:	 	 Julie Varner

	Title:	 	 Vice President

 
			
	Stifel Bank & Trust, as Lender
		
	By:	 	 /s/ Joseph L. Sooter, Jr.

	Name:	 	 Joseph L. Sooter, Jr.

	Title:	 	 Senior Vice President

 
			
	UMB Bank, n.a., as Lender
		
	By:	 	 /s/ S. Scott Heady

	Name:	 	 S. Scott Heady

	Title:	 	 Senior Vice President

 EXHIBIT A 

FORM OF ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between [INSERT NAME OF ASSIGNOR] (the “Assignor”) and the parties identified on the Schedules hereto and [the]
[each]1 Assignee identified on the Schedules hereto as “Assignee” or as “Assignees” (collectively, the “Assignees” and each an
“Assignee”). [It is understood and agreed that the rights and obligations of [the Assignees] [the Assignors]2 hereunder are several and not
joint.]3 Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, the “Credit Agreement”),
receipt of a copy of which is hereby acknowledged by [the] [each] Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part
of this Assignment and Assumption as if set forth herein in full. 
 For an agreed consideration, the Assignor hereby irrevocably sells and
assigns to [the Assignee] [the respective Assignees], and [the] [each] Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions
and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents
or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the respective facilities identified below (including
without limitation any letters of credit, guarantees, and swing line loans included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or
in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and
assigned pursuant to clause (i) above (the rights and obligations sold and assigned to [the] [any] Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as, [the]
[an] “Assigned Interest”). Each such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 

 

					
	1.	 	Assignor:	  	[INSERT NAME OF ASSIGNOR]
			
	2.	 	Assignee(s):	  	See Schedules attached hereto
			
	3.	 	Borrower:	  	National Health Investors, Inc.
			
	4.	 	Administrative Agent:	  	Wells Fargo Bank, National Association, as the administrative agent under the Credit Agreement

  

	1 	For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose the first bracketed language. If the assignment is to multiple Assignees, choose the
second bracketed language. 

	2 	Select as appropriate. 

	3 	Include bracketed language if there are either multiple Assignors or multiple Assignees. 

  
 Form of Assignment
and Assumption 

					
	5.	 	Credit Agreement:	  	The Third Amended and Restated Credit Agreement dated as of March 27, 2014, among National Health Investors, Inc., as Borrower, the Lenders party thereto, as Lenders, and Wells Fargo Bank, National Association, as
Administrative Agent (as amended, restated, supplemented or otherwise modified)
			
	6.	 	Assigned Interest:	  	See Schedules attached hereto
			
	[7.	 	Trade Date:	  	                    ]4

 [Remainder of Page Intentionally Left Blank] 

 

	4 	To be completed if the Assignor and the Assignees intend that the minimum assignment amount is to be determined as of the Trade Date. 

  
 Form of Assignment
and Assumption 

 Effective Date:
                     , 2     [TO BE INSERTED BY THE ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE
OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR] 
 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	By:	 	  

		 	Title:
	
	ASSIGNEES
	
	See Schedules attached hereto

  
 Form of Assignment
and Assumption 

			
	[Consented to and]5 Accepted:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent [, Issuing Bank and Swing Line Lender]
		
	By	 	  

		 	Title:
	
	[Consented to:]6
	
	NATIONAL HEALTH INVESTORS, INC.
		
	By	 	  

		 	Title:

  

	5 	To be added only if the consent of the Administrative Agent and/or the Swing Line Lender and Issuing Bank is required by the terms of the Credit Agreement. May also use a Master Consent. 

	6 	To be added only if the consent of the Borrower is required by the terms of the Credit Agreement. May also use a Master Consent. 

  
 Form of Assignment
and Assumption 

 SCHEDULE 1 

to Assignment and Assumption 
 By its execution of
this Schedule, the Assignee identified on the signature block below agrees to the terms set forth in the attached Assignment and Assumption. 
 Assigned
Interests: 
  

															
	 Facility Assigned7
	  	Aggregate Amount
of Commitment/
Loans for all
Lenders8	 	  	Amount of
Commitment/
Loans Assigned9	 	  	Percentage
Assigned of
Commitment/
Loans10	 	 	CUSIP Number
		  	$	            	  	  	$	            	  	  	 	            	% 	 	
		  	$	 	  	  	$	 	  	  	 	            	% 	 	
		  	$	 	  	  	$	 	  	  	 	            	% 	 	

  

			
	[NAME OF ASSIGNEE]11
	[and is an Affiliate/Approved Fund of [identify Lender]12]
		
	By:	 	  

		 	Title:

  
  

	7 	Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Agreement (e.g. “Revolving Credit Commitment,” “Term A-1 Loan,”
“Term A-2 Loan,” “Term A-4 Loan,” etc.) 

	8 	Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date. 

	9 	Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date. 

	10 	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

	11 	Add additional signature blocks, as needed. 

	12 	Select as appropriate. 

  
 Schedule 1 to 

Form of Assignment and Assumption 

 ANNEX 1 

to Assignment and Assumption 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal
and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action necessary, to execute and deliver
this Assignment and Assumption and to consummate the transactions contemplated hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties or
representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder,
(iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates
or any other Person of any of their respective obligations under any Loan Document. 
 1.2. Assignee[s].
[The] [Each] Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions
contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 10.5(b)(iii), (v) and (vi) of the Credit Agreement (subject to such
consents, if any, as may be required under Section 10.5(b)(iii) of the Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent
of [the] [the relevant] Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either
it, or the person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the
opportunity to receive copies of the most recent financial statements delivered pursuant to Section 6.1 thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision
to enter into this Assignment and Assumption and to purchase [the] [such] Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent, or any other Lender and based on such documents and
information as it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the] [such] Assigned Interest, and (vii) if it is a Foreign Lender, attached
to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without
reliance on the Administrative Agent, [the] [any] the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not
taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments in respect of [the]
[each] Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to [the] [the relevant] Assignee for
amounts which have accrued from and after the Effective Date. 

  
 Annex 1 to 

Form of Assignment and Assumption 

 3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to
the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a
signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with,
the law of the State of New York. 

  
 Annex 1 to 

Form of Assignment and Assumption 

 EXHIBIT B 

FORM OF OFFICER’S COMPLIANCE CERTIFICATE 

The undersigned, on behalf of National Health Investors, Inc., a corporation organized under the laws of Maryland (the
“Borrower”), hereby certifies to the Administrative Agent and the Lenders, each as defined in the Credit Agreement referred to below, as follows: 

1. This certificate is delivered to you pursuant to Section 6.2 of the Third Amended and Restated Credit Agreement dated as of
March 27, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among the Borrower, the lenders who are or may become party thereto, as Lenders, and Wells Fargo Bank,
National Association, as Administrative Agent. Capitalized terms used herein and not defined herein shall have the meanings assigned thereto in the Credit Agreement. 

2. I have reviewed the financial statements of the Borrower and its Subsidiaries dated as of
             and for the              period[s] then ended and such statements fairly present in all material
respects the financial condition of the Borrower and its Subsidiaries as of the dates indicated and the results of their operations and cash flows for the period[s] indicated. 

3. I have reviewed the terms of the Credit Agreement, and the related Loan Documents and have made, or caused to be made under my supervision,
a review in reasonable detail of the transactions and the condition of the Borrower and its Subsidiaries during the accounting period covered by the financial statements referred to in Paragraph 2 above. Such review has not disclosed the existence
during or at the end of such accounting period of any condition or event that constitutes a Default or an Event of Default, nor do I have any knowledge of the existence of any such condition or event as at the date of this certificate
[except, if such condition or event existed or exists, describe the nature and period of existence thereof and what action the Borrower has taken, is taking and proposes to take with respect thereto]. 

4. The Applicable Rates and calculations determining such figures are set forth in Schedule 1 attached hereto, and the Borrower and its
Subsidiaries are in compliance with the financial covenants contained in Section 6.12 of the Credit Agreement, as shown on such Schedule 1, and the other covenants and restrictions contained in the Credit Agreement. 

5. Each of the Unencumbered Lease Properties listed on the attached Schedule 1 fully qualify as such under the applicable criteria for
inclusion as an Unencumbered Lease Property. 
 6. Each of the Lease Properties listed on the attached Schedule 1 fully qualify as
such under the applicable criteria for inclusion as a Lease Property. 
 7. Schedule 2 is a list of all Investments in the Limited
Guarantors as of the date hereof. 
 [Signature Page Follows] 

  
 Form of
Officer’s Compliance Certificate 

 WITNESS the following signature as of the day and year first written above. 

 

					
	NATIONAL HEALTH INVESTORS, INC.
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  
 Form of
Officer’s Compliance Certificate 

 SCHEDULE 1 

to the Compliance Certificate 

[Attached in PDF Format] 

  
 Schedule 1 to 

Form of Officer’s Compliance Certificate 

 SCHEDULE 2 

to the Compliance Certificate 
 ($
in 000’s) 
  

					
	 Limited Guarantor
	 	 Loan or Advance
	 	 Equity Interests or Other Investment

		 		 	

  
 Schedule 2 to 

Form of Officer’s Compliance Certificate 

 EXHIBIT C 

FORM OF BORROWING REQUEST 

Date:                     ,
         
  

	To:	Wells Fargo Bank, National Association, 

   as Administrative Agent 

MAC D 1109-019 
 1525 West W.T.
Harris Blvd. 
 Charlotte, North Carolina 28262 

Attention: Syndication Agency Services 
 Ladies
and Gentlemen: 
 This irrevocable Borrowing Request is delivered to you pursuant to Section
[2.3][2.4] of the Third Amended and Restated Credit Agreement dated as of March 27, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
by and among National Health Investors, Inc., a Maryland corporation (the “Borrower”), the lenders who are or may become party thereto, as Lenders, and Wells Fargo Bank, National Association, as Administrative Agent. Capitalized
terms used herein and not defined herein shall have the meanings assigned thereto in the Credit Agreement. 
 1. The Borrower hereby
requests that the Lenders make a [Revolving Loan] [Term A-1 Loan] [Term A-2 Loan] [Term A-4 Loan] [Swing Line Loan] to the Borrower in the aggregate principal amount of
$        . (Complete with an amount in accordance with Section 2.3 or Section 2.4, as applicable, of the Credit Agreement.) 

2. The Borrower hereby requests that such Loan be made on the following Business Day:
            . (Complete with a Business Day in accordance with Section 2.3 of the Credit Agreement for Revolving Loans, Term A-1 Loans, Term A-2 Loans, or Term A-4 Loans or
Section 2.4 of the Credit Agreement for Swing Line Loans.) 
 3. The Borrower hereby requests that such Loan bear interest at
the following interest rate, plus the Applicable Rate, as set forth below: 
  

							
	 Component of Loan
	  	Interest Rate	 	Interest
Period
(Eurodollar
Rate only)	  	Termination Date for
Interest Period (if
applicable)
				
		  	[Base Rate or Eurodollar
Rate]1	 		  	

  

	1 	Complete with (i) the Base Rate or the Eurodollar Rate for Revolving Credit Loans, Term A-1 Loans, Term A-2 Loans or Term A-4 Loans or (ii) the Base Rate for Swing Line Loans. 

  
 C-1 

Form of Borrowing Request 

 4. The Administrative Agent is hereby authorized to disburse all Loan proceeds into the following
account(s): 
  

			
	  

			
	ABA Routing Number:	 	  

			
	Account Number:	 	  

 5. The aggregate principal amount of all Loans and Letter of Credit Exposure outstanding as of the date hereof
(including the Loan requested herein) does not exceed the maximum amount permitted to be outstanding pursuant to the terms of the Credit Agreement. 

6. All of the conditions applicable to the Loan requested herein as set forth in the Credit Agreement have been satisfied as of the date
hereof and will remain satisfied to the date of such Loan. 
 [Signature Page Follows] 

  
 C-2 

Form of Borrowing Request 

 IN WITNESS WHEREOF, the undersigned has executed this Borrowing Request as of the day and year
first written above. 
  

					
	NATIONAL HEALTH INVESTORS, INC.
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  
 C-3 

Form of Borrowing Request 

 EXHIBIT D 

FORM OF INTEREST RATE ELECTION NOTICE 

Date:             ,          

 

	To:	Wells Fargo Bank, National Association, 

   as Administrative Agent 

MAC D 1109-019 
 1525 West W.T.
Harris Blvd. 
 Charlotte, North Carolina 28262 

Attention: Syndication Agency Services 
 Ladies
and Gentlemen: 
 Reference is made to that certain Third Amended and Restated Credit Agreement, dated as of March 27, 2014 (as
amended, restated, extended, supplemented, or otherwise modified from time to time, the “Credit Agreement”), among National Health Investors, Inc., a Maryland corporation (the “Borrower”), each of the Lenders from
time to time party thereto, and Wells Fargo Bank, National Association, as Administrative Agent, the Swing Line Lender and the Issuing Bank. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such
terms in the Credit Agreement. 
  

									
		 	The Borrower hereby gives notice to the Administrative Agent of the following:
			
		 	 ̈	 	An election of a subsequent Interest Period for Eurodollar Rate Borrowing(s)
					
		 		 	 Outstanding principal balance:
	 	$	 	  

					
		 		 	 Principal amount to be continued:
	 	$	 	  

				
		 		 	 Last day of the current Interest Period:
	 	  

				
		 		 	 Requested effective date of continuation:
	 	  

				
		 		 	 Requested new Interest Period:
	 	  

			
		 	 ̈	 	A conversion of Eurodollar Rate Borrowing(s) into a Base Rate Borrowing(s)
					
		 		 	 Outstanding principal balance:
	 	$	 	  

					
		 		 	 Principal amount to be converted:
	 	$	 	  

				
		 		 	 Last day of the current Interest Period:
	 	  

				
		 		 	 Requested effective date of conversion:
	 	  

  
 D-1 

Form of Interest Rate Election Notice 

									
		 	 ̈	 	A conversion of Base Rate Borrowing(s) into Eurodollar Rate Borrowing(s)	 		 	
					
		 		 	 Outstanding principal balance:
	 	$	 	  

					
		 		 	 Principal amount to be converted:
	 	$	 	  

				
		 		 	 Requested effective date of conversion:
	 	  

				
		 		 	 Requested new Interest Period:
	 	  

 The aggregate principal amount of all Loans and Letter of Credit Exposure outstanding as of the date hereof
does not exceed the maximum amount permitted to be outstanding pursuant to the terms of the Credit Agreement. 
  

			
	NATIONAL HEALTH INVESTORS, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 D-2 

Form of Interest Rate Election Notice 

 EXHIBIT E 

FORM OF PREPAYMENT NOTICE 

            ,          

 

	To:	Wells Fargo Bank, National Association, 

   as Administrative Agent 

MAC D 1109-019 
 1525 West W.T.
Harris Blvd. 
 Charlotte, North Carolina 28262 

Attention: Syndication Agency Services 
 Ladies
and Gentlemen: 
 Reference is made to that certain Third Amended and Restated Credit Agreement, dated as of March 27, 2014 (as
amended, restated, extended, supplemented, or otherwise modified from time to time, the “Credit Agreement”), among National Health Investors, Inc., a Maryland corporation (the “Borrower”), each of the Lenders from
time to time party thereto, and Wells Fargo Bank, National Association, as Administrative Agent, the Swing Line Lender and the Issuing Bank. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such
terms in the Credit Agreement. 
 The Borrower hereby gives this irrevocable notice of prepayment pursuant to Section 2.10(a) of
the Credit Agreement. 
  

	
	Type:   ̈ Base Rate Borrowing,  ̈ Eurodollar Rate Borrowing or  ̈ Swing Line
Loan.
	
	Class:   ̈ Term A-1 Loan,  ̈ Term A-2 Loan or  ̈ Term A-4 Loan.

  

	1.	Total Prepayment Amount: $            .14 

 

	2.	Prepayment Date:             , 20     (which is a Business Day).15 

 

			
	NATIONAL HEALTH INVESTORS, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

	14 	If a prepayment of a Eurodollar Rate Borrowing, must be in an aggregate amount that is an integral multiple of $100,000 and not less than $1,000,000. If a prepayment of a Base Rate Borrowing, must be in an aggregate
amount that is an integral multiple of $100,000 and not less than $500,000. If a prepayment of a Swing Line Loan, must be in an amount that is an integral multiple of $25,000 and not less than $50,000. 

	15 	At least three (3) Business Days after the date of this Prepayment Notice if a Eurodollar Rate Borrowing and on the date of this Prepayment Notice if a Base Rate Borrowing or Swing Line Loan.

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