Document:

Intercreditor Agreement

 Exhibit 4.4 
 INTERCREDITOR AGREEMENT 
 INTERCREDITOR AGREEMENT dated as of May 19,
2011, among HSBC BANK PLC (“HSBC”), as collateral agent (the “First Lien Agent”) under the First Lien Credit Agreement (as defined below), including its successors and assigns from time to time; Wilmington Trust FSB
(“Wilmington”), as collateral agent (the “Second Lien Agent”) under the Second Lien Indenture (as defined below), including its successors and assigns from time to time; SEVEN SEAS CRUISES S. DE. R.L. (formerly
known as Classic Cruises Holdings S. DE R.L.), a Panamanian sociédad de responsibilidad limitada (including its successors and assigns from time to time under the First Lien Documents, “SSC”); MARINER, LLC (as assignee
of RADISSON SEVEN SEAS (FRANCE), a French société en nom collectif), a Marshall Islands limited liability company (including its successors and assigns from time to time under the First Lien Documents,
“Mariner”); CELTIC PACIFIC (UK) TWO LIMITED, a company organized and existing under the laws of the Bahamas (including its successors and assigns from time to time under the First Lien Documents, “CP2”) and
SUPPLYSTILL LIMITED, an English private limited company (including its successors and assigns from time to time under the First Lien Documents, “Supplystill”), (SSC, Mariner, CP2 and Supplystill collectively, the
“Borrowers”); and each Subsidiary of SSC that becomes a party hereto pursuant to Section 8.21 below. 
 A.
The Borrowers are party to the credit agreement dated as of January 31, 2008 (as amended, supplemented, restated, extended, refinanced, renewed, replaced, defeased, refunded or otherwise modified from time to time, the “First Lien
Credit Agreement”) among, amongst others, Prestige Cruise Holdings, Inc., a Panamanian corporation, the Borrowers, the lenders party thereto from time to time, HSBC, as administrative agent and collateral agent, Calyon, as syndication
agent, DVB Bank America N.V., as documentation agent, HSBC, Calyon and DVB Bank America N.V., as joint bookrunners, HSBC, as mandated lead arranger and Calyon and DVB Bank America N.V., as co-arrangers. The Obligations of the Borrowers under the
First Lien Credit Agreement constitute First Lien Claims (as defined below). 
 B. The Borrowers are party to the indenture for
second-priority senior secured notes dated as of May 19, 2011 (as amended, supplemented, restated, extended, refinanced, renewed, replaced, defeased, refunded or otherwise modified from time to time, including by virtue of additional indentures
or other additional debt documents, the “Second Lien Indenture”) among SSC, as issuer, Mariner, CP2 and Supplystill, as guarantors, and Wilmington Trust FSB, as trustee and collateral agent. The Obligations of SSC, Mariner, CP2 and
Supplystill under the Second Lien Indenture constitute Second Lien Claims (as defined below). 
 Accordingly, in consideration
of the foregoing, the mutual covenants and obligations herein set forth and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows: 
 Section 1. Definitions. 
 1.1 Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 
 “Affiliate” shall have the meaning set forth in the First Lien Credit Agreement. 
 “Agreement” shall mean this Agreement, as amended, restated, replaced, renewed, extended, supplemented or otherwise modified from time to time in accordance with the terms hereof.

 “Asset Sale” means, with respect to an asset, any loss, damage, destruction
or condemnation of, or any sale, transfer or other disposition to any person of, such asset. 
 “Bankruptcy
Law” shall mean Title 11 of the United States Code and any similar Federal, state or foreign law for the relief of debtors. 
 “Borrowers” shall have the meaning set forth in the preamble. 

“Closing Date” shall mean January 31, 2008. 

“Common Collateral” shall mean all of the assets of any Grantor, whether real, personal or mixed, constituting both
First Lien Collateral and Second Lien Collateral, including any assets in which the First Lien Agent or the Second Lien Agent is automatically deemed to have a Lien pursuant to the provisions of Section 2.3. 

“Comparable Second Lien Collateral Document” shall mean, in relation to any Common Collateral subject to any Lien
created under any First Lien Collateral Document, those Second Lien Collateral Documents that create a Lien on the same Common Collateral, granted by the same Grantor. 
 “DIP Financing” shall have the meaning set forth in Section 6.1. 
 “Discharge of First Lien Claims” shall mean payment in full in cash (except for contingent indemnities and cost and reimbursement obligations to the extent no claim therefor has been
made) of (a) all Obligations in respect of all outstanding First Lien Claims and, with respect to letters of credit or letter of credit guaranties outstanding thereunder, delivery of cash collateral or backstop letters of credit in respect
thereof in compliance with the First Lien Credit Agreement, in each case after or concurrently with the termination of all commitments to extend credit thereunder and (b) any other First Lien Claims that are due and payable or otherwise accrued
and owing at or prior to the time such principal and interest are paid; provided that the Discharge of First Lien Claims shall not be deemed to have occurred if such payments are made with the proceeds of other First Lien Claims that
constitute an exchange or replacement for or a refinancing of such Obligations or First Lien Claims. In the event the First Lien Claims are modified and the Obligations are paid over time or otherwise modified pursuant to Section 1129 of the
Bankruptcy Code, the First Lien Claims shall be deemed to be discharged when the final payment is made, in cash, in respect of such Obligations and any obligations pursuant to such new indebtedness shall have been satisfied. 

“Event of Loss” means, with respect to an asset, (i) the actual or constructive total loss or the arranged or
compromised total loss of such asset or (ii) the capture, condemnation, confiscation, requisition, purchase, sale, seizure or forfeiture of, or any taking of title to, such asset. 

“First Lien Agent” shall have the meaning set forth in the preamble. 

“First Lien Claims” shall mean all Obligations arising under the First Lien Credit Agreement or any other First Lien
Document, whether or not such Obligations constitute Indebtedness, including Obligations arising under Secured Hedge Agreements. First Lien Claims shall include all interest and expenses accrued or accruing (or that would, absent the commencement of
an Insolvency or Liquidation Proceeding, accrue) after the commencement of an Insolvency or Liquidation Proceeding in accordance with and at the rate specified in the relevant First Lien Documents whether or not the claim

  
 2 

 
for such interest or expenses is allowed or allowable as a claim in such Insolvency or Liquidation Proceeding. 
 “First Lien Collateral” shall mean all of the assets of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any First Lien Claim.

 “First Lien Collateral Agreement” shall mean the Collateral Agreement dated as of January 31, 2008
among Mariner, CP2, Supplystill and HSBC, as collateral agent for the secured parties referred to therein, as amended, restated, modified or replaced from time to time. 
 “First Lien Collateral Documents” shall mean the First Lien Collateral Agreement, the First Lien Vessel Mortgages and any security agreement, mortgage or other agreement, document or
instrument pursuant to which a Lien is now or hereafter granted securing any First Lien Claims or under which rights or remedies with respect to such Lien are at any time governed. 

“First Lien Credit Agreement” shall have the meaning set forth in the recitals. 

“First Lien Documents” shall mean the First Lien Credit Agreement, the First Lien Collateral Documents and each of the
other agreements, documents and instruments (including each agreement, document or instrument providing for or evidencing a First Lien Hedging Obligation) providing for, evidencing or securing any Obligation under the First Lien Credit Agreement.

 “First Lien Hedging Obligations” shall mean any Obligations under Secured Hedge Agreements. 

“First Lien Lenders” shall mean the Persons holding First Lien Claims, including the First Lien Agent. 

“First Lien Vessel Mortgages” shall mean each of the first preferred or first priority ship mortgages or other security
documents granting a Lien on a Mortgaged Vessel to secure the First Lien Claims. 
 “Grantors” shall mean the
Borrowers and each of SSC’s Subsidiaries that has executed and delivered a First Lien Collateral Document or Second Lien Collateral Document. 
 “Indebtedness” shall mean and include all obligations that constitute “Indebtedness” within the meaning of the First Lien Credit Agreement or the Second Lien Indenture, as
applicable. 
 “Insolvency or Liquidation Proceeding” shall mean (a) any voluntary or involuntary case or
proceeding under any Bankruptcy Law with respect to any Grantor, (b) any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or
proceeding with respect to any Grantor or with respect to any of its assets, (c) any liquidation, dissolution, reorganization or winding up of any Grantor whether voluntary or involuntary and whether or not involving insolvency or bankruptcy or
(d) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of any Grantor. 

“Lien” shall mean, with respect to any asset, (a) any mortgage, deed of trust, lien, hypothecation, pledge, charge,
security interest or similar encumbrance in or on such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention 

  
 3 

 
agreement (or a financing lease having substantially the same economic effect as any of the foregoing) relating to such asset. 

“Obligations” shall mean, with respect to any Person, any payment, performance or other obligations of such Person of
any kind, including any liability of such Person on any claim, whether or not the right of any creditor to payment in respect of such claim is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, disputed, undisputed, legal,
equitable, secured or unsecured, and whether or not such claim is discharged, stayed or otherwise affected by any Insolvency or Liquidation Proceeding. Without limiting the generality of the foregoing, the Obligations of any Grantor under any First
Lien Document or Second Lien Document include the obligations to pay principal, interest (including interest accrued on or accruing after the commencement of any Insolvency or Liquidation Proceeding, whether or not a claim for post-filing interest
is allowed in such proceeding) or premium on any Indebtedness, letter of credit commissions (if applicable), charges, expenses, fees, attorneys’ fees and disbursements, indemnities and other amounts payable by such Grantor to reimburse any
amount in respect of any of the foregoing that any First Lien Lender or Second Lien Secured Party, in its sole discretion, may elect to pay or advance on behalf of such Grantor. 

“Person” shall mean an individual, partnership, corporation (including a business trust), limited liability company,
joint stock company, trust, unincorporated association, joint venture or other entity, or a government or any political subdivision or agency thereof. 
 “Pledged Collateral” shall mean the Common Collateral in the possession of the First Lien Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon
under the Uniform Commercial Code. 
 “Purchase Event” shall have the meaning set forth in Section 5.6.

 “Recovery” shall have the meaning set forth in Section 6.4. 

“Required Lenders” shall mean, with respect to the First Lien Credit Agreement, those First Lien Lenders the approval of
which is required to approve an amendment or modification of, termination or waiver of any provision of or consent to any departure from the First Lien Credit Agreement (or would be required to effect such consent under this Agreement if such
consent were treated as an amendment of such First Lien Credit Agreement). 
 “Second Lien” shall mean any Lien
on any assets of any Grantor securing any Second Lien Claims. 
 “Second Lien Agent” shall have the meaning set
forth in the preamble. 
 “Second Lien Claims” shall mean all Obligations in respect of the Second Lien
Indenture or arising under the Second Lien Documents or any of them, including all fees and expenses of the Second Lien Agent thereunder. 
 “Second Lien Collateral” shall mean all of the assets of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any Second Lien Claim.

  
 4 

 “Second Lien Collateral Agreement” shall mean the Collateral Agreement
dated as of the date hereof among Mariner, CP2, Supplystill and the Second Lien Agent, as collateral agent for the secured parties referred to therein, as amended, restated, modified or replaced from time to time. 

“Second Lien Collateral Documents” shall mean the Second Lien Collateral Agreement, the Second Lien Vessel Mortgages and
any security agreement, mortgage or other agreement, document or instrument pursuant to which a Lien is granted by any Grantor to secure any Second Lien Claims or under which rights or remedies with respect to any such Lien are governed. 

“Second Lien Documents” shall mean the Second Lien Indenture, the Second Lien Collateral Documents and each of the other
agreements, documents and instruments providing for, evidencing or securing any Obligation under the Second Lien Indenture. 

“Second Lien Indenture” shall have the meaning set forth in the recitals. 

“Second Lien Secured Parties” shall mean the Persons holding Second Lien Claims, including the Second Lien Agent.

 “Second Lien Vessel Mortgages” shall mean each of the second preferred or second priority ship mortgages or
other security documents granting a Lien on a Mortgaged Vessel to secure the Second Lien Claims. 
 “Secured Hedge
Agreements” shall mean each Swap Agreement that (i) is in effect on the Closing Date with a counterparty that is the First Lien Agent, a First Lien Lender or an Affiliate of either as of the Closing Date or (ii) is entered into
after the Closing Date with any counterparty that is the First Lien Agent, a First Lien Lender or an Affiliate of either at the time such Swap Agreement is entered into. 
 “Securities Account” shall have the meaning set forth in the Uniform Commercial Code. 
 “Standstill Period” shall have the meaning assigned to such term in Section 3.1(e). 
 “Subsidiary” shall mean, unless the context otherwise indicates, any “Subsidiary” of SSC as defined in the First Lien Credit Agreement. 

“Swap Agreement” shall have the meaning set forth in the First Lien Credit Agreement. 

“Uniform Commercial Code” or “UCC” shall mean the Uniform Commercial Code as from time to time in
effect in the State of New York. 
 1.2 Terms Generally. The definitions of terms herein shall apply equally to the
singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall
be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise (a) any definition of
or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, renewed, replaced, supplemented or otherwise modified in
accordance with this Agreement, (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein,” “hereof” and “hereunder,” and words of
similar import, shall be construed to refer to this 

  
 5 

 
Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Sections shall be construed to refer to Sections of this Agreement, (e) the words
“asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights and (f) the
term “or” is not exclusive. 
 Section 2. Lien Priorities. 

2.1 Subordination of Liens. Notwithstanding (i) the date, time, method, manner or order of filing or recordation of any
document or instrument or grant, attachment or perfection (including any defect or deficiency or alleged defect or deficiency in any of the foregoing) of any Liens granted to the Second Lien Agent or the Second Lien Secured Parties on the Common
Collateral or of any Liens granted to the First Lien Agent or the First Lien Lenders on the Common Collateral, (ii) any provision of the UCC, the Bankruptcy Code, or any applicable law or the Second Lien Documents or the First Lien Documents,
(iii) whether the First Lien Agent, either directly or through agents, holds possession of, or has control over, all or any part of the Common Collateral, (iv) the fact that any such Liens may be subordinated, voided, avoided, invalidated
or lapsed or (v) any other circumstance of any kind or nature whatsoever, the Second Lien Agent, on behalf of itself and each Second Lien Secured Party, hereby agrees that: (a) any Lien on the Common Collateral securing any First Lien
Claims now or hereafter held by or on behalf of the First Lien Agent or any First Lien Lender or any agent or trustee therefor regardless of how acquired, whether by grant, statute, operation of law, subrogation or otherwise, shall have priority
over and be senior in all respects and prior to any Lien on the Common Collateral securing any Second Lien Claims and (b) any Lien on the Common Collateral securing any Second Lien Claims now or hereafter held by or on behalf of the Second Lien
Agent or any Second Lien Secured Party or any agent or trustee therefor regardless of how acquired, whether by grant, statute, operation of law, subrogation or otherwise, shall be junior and subordinate in all respects to all Liens on the Common
Collateral securing any First Lien Claims. All Liens on the Common Collateral securing any First Lien Claims shall be and remain senior in all respects and prior to all Liens on the Common Collateral securing any Second Lien Claims for all purposes,
whether or not such Liens securing any First Lien Claims are subordinated to any Lien securing any other obligation of any Grantor or any other Person. 
 2.2 Prohibition on Contesting Liens. The Second Lien Agent, for itself and on behalf of each Second Lien Secured Party, and the First Lien Agent, for itself and on behalf of each First Lien Lender,
agrees that it shall not (and hereby waives any right to) take any action to challenge, contest or support any other Person in contesting or challenging, directly or indirectly, in any proceeding (including any Insolvency or Liquidation Proceeding),
the validity, perfection, priority or enforceability of (a) a Lien securing any First Lien Claim held (or purported to be held) by or on behalf of the First Lien Agent or any of the First Lien Lenders or any agent or trustee therefor in any
First Lien Collateral or any other collateral, or (b) a Lien securing any Second Lien Claims held (or purported to be held) by or on behalf of the Second Lien Agent or any Second Lien Secured Party or any agent or trustee therefor in any Second
Lien Collateral, as the case may be; provided, however, that nothing in this Agreement shall be construed to prevent or impair the rights of the First Lien Agent or any First Lien Lender to enforce this Agreement (including the
priority of the Liens securing the First Lien Claims as provided in Section 2.1) or any of the First Lien Documents. 
 2.3
No New Liens. 
 (a) So long as the Discharge of First Lien Claims has not occurred, the Second Lien Agent agrees, for
itself and on behalf of each Second Lien Secured Party, whether or not any Insolvency 

  
 6 

 
or Liquidation Proceeding has been commenced by or against any Grantor, that it shall not acquire or hold any Lien on any assets of any Grantor securing any Second Lien Claims that are not also
subject to the first-priority Lien in respect of the First Lien Claims under the First Lien Documents. If the Second Lien Agent or any Second Lien Secured Party shall (nonetheless and in breach hereof) acquire or hold any Lien on any such collateral
that is not also subject to the first-priority Lien in respect of the First Lien Claims under the First Lien Documents, then the Second Lien Agent shall, without the need for any further consent of any party and notwithstanding anything to the
contrary in any other document, be deemed to also hold and have held such lien for the benefit of the First Lien Agent as security for the First Lien Claims (subject to the Lien priority and other terms hereof) and shall promptly notify the First
Lien Agent in writing of the existence of such Lien and in any event take such actions as may be requested by the First Lien Agent to assign or release such Liens to the First Lien Agent (and/or its designee) as security for the applicable First
Lien Claims. 
 (b) The First Lien Agent agrees, for itself and on behalf of each First Lien Lender, whether or not any
Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, that it shall not acquire or hold any Lien on any assets of any Grantor securing any First Lien Claims that are not also subject to the second-priority Lien in
respect of the Second Lien Claims under the Second Lien Documents. If the First Lien Agent or any First Lien Lender shall (nonetheless and in breach hereof) acquire or hold any Lien on any such collateral that is not also subject to the
second-priority Lien in respect of the Second Lien Claims under the Second Lien Documents, then the First Lien Agent shall, without the need for any further consent of any party and notwithstanding anything to the contrary in any other document, be
deemed to also hold and have held such lien for the benefit of the Second Lien Agent as security for the Second Lien Claims (subject to the Lien priority and other terms hereof) and shall promptly notify the Second Lien Agent in writing of the
existence of such Lien and in any event take such actions, within the control of the First Lien Agent, as may be reasonably requested by the Second Lien Agent to cause such Liens to secure the Second Lien Claims. 

(c) The Second Lien Agent acknowledges and agrees, for itself and on behalf of each Second Lien Secured Party, that (i) the First
Lien Lenders may have a security interest in assets of Prestige Cruise Holdings, Inc., a Panamanian corporation and the indirect parent of SSC (“PCH”), (ii) neither the Second Lien Agent nor any Second Lien Secured Party has a
security interest in assets of PCH and (iii) if the Second Lien Agent or any Second Lien Secured Party has or obtains such a security interest, such assets shall be deemed Common Collateral for all purposes of this Agreement. 

2.4 Perfection of Liens. Neither of the First Lien Agent nor the First Lien Lenders shall be responsible for perfecting and
maintaining the perfection of Liens with respect to the Common Collateral for the benefit of the Second Lien Agent and the Second Lien Secured Parties. The provisions of this Agreement are intended solely to govern the respective Lien priorities as
between the First Lien Lenders and the Second Lien Secured Parties and shall not impose on the First Lien Agent, the Second Lien Agent, the First Lien Lenders or the Second Lien Secured Parties or any agent or trustee therefor any obligations in
respect of the disposition of proceeds of any Common Collateral which would conflict with prior perfected claims therein in favor of any other Person or any order or decree of any court or governmental authority or any applicable law. 

2.5 Waiver of Marshalling. Until the Discharge of the First Lien Claims, the Second Lien Agent, on behalf of itself and the Second
Lien Secured Parties, agrees not to assert and hereby waives, to the fullest extent permitted by law, any right to demand, request, plead or otherwise assert or otherwise claim the benefit of, any marshalling, appraisal, valuation or other similar
right that may otherwise be 

  
 7 

 
available under applicable law with respect to the Common Collateral or any other similar rights a junior secured creditor may have under applicable law. 

Section 3. Enforcement. 
 3.1 Exercise of Remedies. 
 (a) So long as the Discharge of First Lien
Claims has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, (i) neither the Second Lien Agent nor any Second Lien Secured Party will (x) exercise or seek to exercise any
rights or remedies (including setoff or recoupment) with respect to any Common Collateral in respect of any applicable Second Lien Claims, or exercise any right under any lockbox agreement, control agreement, landlord waiver or bailee’s letter
or similar agreement or arrangement, or institute any action or proceeding with respect to such rights or remedies (including any action of foreclosure), (y) contest, protest or object to any foreclosure proceeding or action brought with
respect to the Common Collateral, or any other collateral, by the First Lien Agent or any First Lien Lender in respect of the First Lien Claims, the exercise of any right by the First Lien Agent or any First Lien Lender (or any agent or sub-agent on
their behalf) in respect of the First Lien Claims under any lockbox agreement, control agreement, landlord waiver or bailee’s letter or similar agreement or arrangement to which the Second Lien Agent or any Second Lien Secured Parties either is
a party or may have rights as a third party beneficiary, or any other exercise by any such party, of any rights and remedies relating to the Common Collateral, or any other collateral, under the First Lien Documents or otherwise in respect of First
Lien Claims, or (z) object to the forbearance by the First Lien Lenders from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Common Collateral or any other collateral in
respect of First Lien Claims and (ii) except as otherwise provided herein, the First Lien Agent and the First Lien Lenders shall have the exclusive right to enforce rights, exercise remedies (including setoff and the right to credit bid their
debt) and make determinations regarding the release, disposition or restrictions with respect to the Common Collateral without any consultation with or the consent of the Second Lien Agent or any Second Lien Secured Parties (provided that the
First Lien Agent will use its reasonable efforts to advise the Second Lien Agent at reasonable intervals of the status of any lien enforcement actions conducted by the First Lien Agent (provided, however, that the failure of the First
Lien Agent to so advise the Second Lien Agent shall not impair or affect the Second Lien Agent’s or any Second Lien Secured Party’s obligations to the First Lien Agent and the First Lien Lenders, the First Lien Agent’s rights
hereunder or the enforceability of this Agreement or any Liens created or granted hereby)); provided, however, that (A) in any Insolvency or Liquidation Proceeding commenced by or against any Grantor, the Second Lien Agent may
file a proof of claim or statement of interest with respect to the applicable Second Lien Claims, (B) the Second Lien Agent and the Second Lien Secured Parties shall be entitled to file any necessary responsive or defensive pleadings in
opposition to any motion, claim, adversary proceeding or other pleading made by any Person objecting to or otherwise seeking the disallowance of the claims of the Second Lien Secured Parties, including, without limitation, any claims secured by the
Common Collateral, if any, in each case, not otherwise in contravention of the terms of this Agreement, (C) the Second Lien Agent may take any action (not adverse to the prior Liens on the Common Collateral securing the First Lien Claims, or
the rights of the First Lien Agent or the First Lien Lenders to exercise remedies in respect thereof) in order to create, prove, perfect, preserve or protect (but not enforce) its rights in, and perfection and priority of its Lien on, the Common
Collateral and (D) subject to Section 3.1(e), the Second Lien Agent and the Second Lien Secured Parties may enforce any of their rights and exercise any of their remedies with respect to the Common Collateral after the termination of the
Standstill Period. In exercising rights and remedies with respect to the First Lien Collateral, the First Lien Agent and the First Lien Lenders may enforce the 

  
 8 

 
provisions of the First Lien Documents and exercise remedies thereunder with respect to the Common Collateral, all in such order and in such manner as they may determine in the exercise of their
sole discretion. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of Common Collateral or other collateral upon foreclosure, to incur expenses in connection with such sale or
disposition, and to exercise all the rights and remedies of a secured lender under the uniform commercial code of any applicable jurisdiction and of a secured creditor under Bankruptcy Laws of any applicable jurisdiction. 

(b) So long as the Discharge of First Lien Claims has not occurred, the Second Lien Agent, on behalf of itself and each Second Lien
Secured Party, agrees that it will not take or receive any Common Collateral or any proceeds of Common Collateral in connection with (i) the exercise of any right or remedy (including setoff or recoupment) or (ii) any Asset Sale or Event
of Loss, in each case with respect to any Common Collateral or other collateral in respect of the Second Lien Claims. Without limiting the generality of the foregoing, unless and until the Discharge of First Lien Claims has occurred, except as
expressly provided in the proviso in clause (ii) of Section 3.1(a) and in Section 3.1(e), the sole right of the Second Lien Agent and the Second Lien Secured Parties with respect to the Common Collateral is to hold a Lien on the
Common Collateral in respect of the Second Lien Claims pursuant to the Second Lien Documents, as applicable, for the period and to the extent granted therein and to receive a share of the proceeds thereof, if any, after the Discharge of First Lien
Claims has occurred. 
 (c) Subject to the final proviso in clause (ii) of Section 3.1(a) above and the proviso in
Section 3.1(e) below, (i) the Second Lien Agent, for itself and on behalf of each Second Lien Secured Party, agrees that neither the Second Lien Agent nor any Second Lien Secured Party will take any action that would hinder any exercise of
remedies undertaken by the First Lien Agent or the First Lien Lenders with respect to the Common Collateral or any other collateral under the First Lien Documents, including any sale, lease, exchange, transfer or other disposition of the Common
Collateral or such other collateral, whether by foreclosure or otherwise, and (ii) the Second Lien Agent, for itself and on behalf of each Second Lien Secured Party, hereby waives any and all rights it or any Second Lien Secured Party may have
as a junior lien creditor or otherwise to object to the manner in which the First Lien Agent or the First Lien Lenders seek to enforce or collect the First Lien Claims or the Liens granted in any of the First Lien Collateral, regardless of whether
any action or failure to act by or on behalf of the First Lien Agent or First Lien Lenders is adverse to the interests of the Second Lien Secured Parties. 
 (d) The Second Lien Agent hereby acknowledges and agrees that no covenant, agreement or restriction contained in any Second Lien Document shall be deemed to restrict in any way the rights and remedies of
the First Lien Agent or the First Lien Lenders with respect to the First Lien Collateral as set forth in this Agreement and the First Lien Documents. 
 (e) Each party hereto agrees that, after a period of 150 days has elapsed since the date on which the Second Lien Agent has delivered to the First Lien Agent written notice of the acceleration of the
Indebtedness then outstanding under the Second Lien Indenture (the “Standstill Period”), the Second Lien Agent may (A) enforce or exercise, or seek to enforce or exercise, any rights or remedies (including any right of setoff)
with respect to any Common Collateral (including the enforcement of any right under any account control agreement, landlord waiver or bailee’s letter or any similar agreement or arrangement to which the Second Lien Agent or any Second Lien
Secured Party is a party) or (B) commence or join with any person (other than the First Lien Agent) in commencing, or petition for or vote in favor of any resolution for, any action or proceeding with respect to such rights or remedies
(including any foreclosure action); provided, however, that notwithstanding the expiration of the Standstill Period or anything herein to the contrary, in no event shall the Second Lien Agent or any

  
 9 

 
Second Lien Secured Party enforce or exercise any rights or remedies with respect to any Common Collateral, or commence, join with any person in commencing, or petition for or vote in favor of
any resolution for, any such action or proceeding, if the First Lien Agent or any First Lien Lender shall have commenced, and shall be diligently pursuing (or shall have sought or requested relief from or modification of the automatic stay or any
other stay in any Insolvency or Liquidation Proceeding to enable the commencement and pursuit thereof), the enforcement or exercise of any rights or remedies with respect to all or any material portion of the Common Collateral or any such action or
proceeding (prompt written notice thereof to be given to the Second Lien Agent by the First Lien Agent). 
 3.2
Cooperation. Subject to the final proviso in clause (ii) of Section 3.1(a) and the proviso in Section 3.1(e), the Second Lien Agent, on behalf of itself and each Second Lien Secured Party, agrees that, unless and until the
Discharge of First Lien Claims has occurred, it will not commence, or join with any Person (other than the First Lien Lenders and the First Lien Agent upon the request thereof) in commencing, any enforcement, collection, execution, levy or
foreclosure action or proceeding with respect to any Lien held by it in the Common Collateral or any other collateral under any of the Second Lien Documents or otherwise in respect of the Second Lien Claims relating to the Common Collateral.

 3.3 Actions Upon Breach. If any Second Lien Secured Party, in contravention of the terms of this Agreement, in any way
takes, or attempts or threatens to take, any action with respect to the Common Collateral (including any attempt to realize upon or enforce any remedy with respect to this Agreement), this Agreement shall create an irrebuttable presumption and
admission by such Second Lien Secured Party that relief against such Second Lien Secured Party by injunction, specific performance and/or other appropriate equitable relief is necessary to prevent irreparable harm to the First Lien Lenders, it being
understood and agreed by the Second Lien Agent on behalf of each Second Lien Secured Party that (i) the First Lien Lenders’ damages from its actions may at that time be difficult to ascertain and may be irreparable, and (ii) each
Second Lien Secured Party waives any defense that the Grantors and/or the First Lien Lenders cannot demonstrate damage and/or be made whole by the awarding of damages. 
 Section 4. Payments. 
 4.1 Application of Proceeds. So long as
the Discharge of First Lien Claims has not occurred, the Common Collateral and any other collateral in respect of the Second Lien Claims or proceeds thereof received in connection with the sale or other disposition of, or collection on, such Common
Collateral or other collateral upon the exercise of remedies (whether prior to or during the pendency of an Insolvency or Liquidation Proceeding) as a secured party, shall be applied by the First Lien Agent to the First Lien Claims in such order as
specified in the relevant First Lien Documents until the Discharge of First Lien Claims has occurred. Upon the Discharge of First Lien Claims, the First Lien Agent shall deliver promptly to the Second Lien Agent any Common Collateral or proceeds
thereof held by it in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct to be applied by the Second Lien Agent to the Second Lien Claims in such order as specified in the Second
Lien Documents. 
 4.2 Payments Over. Without limitation of Section 4.1, any Common Collateral or other collateral
in respect of the Second Lien Claims or proceeds thereof received by the Second Lien Agent or any Second Lien Secured Party in connection with (i) the exercise of any right or remedy (including setoff or recoupment) or (ii) any Asset Sale
or Event of Loss, in each case relating to the Common Collateral or such other collateral prior to the Discharge of First Lien Claims shall be segregated and held in trust for the benefit of and forthwith paid over to the First Lien Agent (and/or
its designees) for the benefit of the First Lien Lenders in the same form as received, with any necessary endorsements or as a 

  
 10 

 
court of competent jurisdiction may otherwise direct. The First Lien Agent is hereby authorized to make any such endorsements as agent for the Second Lien Agent or any such Second Lien Secured
Party. This authorization is coupled with an interest and is irrevocable until such time as this Agreement is terminated in accordance with its terms. 
 4.3 Certain Agreements with Respect to Unenforceable Collateral. In addition to the rights and obligations of the First Lien Agent, the Second Lien Agent, the First Lien Lenders and Second Lien
Secured Parties set forth herein, in the event that in any Insolvency or Liquidation Proceeding a determination is made that Liens encumbering any Common Collateral are not enforceable for any reason, then the Second Lien Agent for itself and on
behalf of each Second Lien Secured Party agrees that any distribution or recovery they may receive with respect to, or allocable to, the value of such Common Collateral or any proceeds thereof shall (for so long as the Discharge of First Lien Claims
has not occurred) be segregated and held in trust and forthwith paid over to the First Lien Agent for the benefit of the First Lien Lenders in the same form as received without recourse, representation or warranty but with any necessary endorsements
or as a court of competent jurisdiction may otherwise direct until such time as the Discharge of First Lien Claims has occurred. The First Lien Agent is hereby authorized to make any such endorsements as agent for the Second Lien Agent or any Second
Lien Secured Party. This authorization is coupled with an interest and is irrevocable until such time as this Agreement is terminated in accordance with its terms. 
 Section 5. Other Agreements. 
 5.1 Releases. 

(a) If, at any time any Grantor or the holder of any First Lien Claim delivers notice to the Second Lien Agent that any specified Common
Collateral (including for such purpose, in the case of the sale of equity interests in any Subsidiary, any Common Collateral held by such Subsidiary or any direct or indirect Subsidiary thereof) is sold, transferred or otherwise disposed of:

 (i) by the owner of such Common Collateral in a transaction permitted under the First Lien Credit Agreement
and the Second Lien Indenture; or 
 (ii) (x) during the existence of any Event of Default under (and as defined
in) the First Lien Credit Agreement to the extent the First Lien Agent has consented to such sale, transfer or disposition, or (y) in connection with the enforcement or exercise of any rights or remedies with respect to the Collateral permitted
hereunder; or 
 (iii) or is otherwise released as permitted by the First Lien Credit Agreement (other than a
release upon the Discharge of First Lien Claims), 
 then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the
Liens in favor of the Second Lien Secured Parties upon such Collateral (excluding any portion of such Collateral or proceeds of such Collateral (if any) remaining after the Discharge of First Lien Claims and not disposed of in connection therewith)
will automatically be released and discharged as and when, but only to the extent, such Liens on such Collateral securing First Lien Claims are released and discharged. Upon delivery to the Second Lien Agent of a notice from the First Lien Agent
stating that any release of Liens securing or supporting the First Lien Claims has become effective (or shall become effective upon the Second Lien Agent’s release) (whether in connection with a sale of such assets by the relevant Grantor
pursuant to the preceding sentence or otherwise), the Second Lien Agent will promptly execute and 

  
 11 

 
deliver such instruments, releases, termination statements or other documents confirming such release on customary terms at the expense of SSC. In the case of the sale of all or substantially all
of the capital stock of a Grantor or any of its Subsidiaries, the guarantee in favor of the Second Lien Secured Parties, if any, made by such Grantor or Subsidiary will automatically be released and discharged as and when, but only to the extent,
the guarantee by such Grantor or Subsidiary of First Lien Claims is released and discharged. 
 (b) The Second Lien Agent, for
itself and on behalf of each Second Lien Secured Party, hereby irrevocably constitutes and appoints the First Lien Agent and any officer or agent of the First Lien Agent, with full power of substitution, as its true and lawful attorney-in-fact with
full irrevocable power and authority in the place and stead of the Second Lien Agent or such holder or in the First Lien Agent’s own name, from time to time in the First Lien Agent’s discretion, for the purpose of carrying out the terms of
this Section 5.1, to take any and all appropriate action and to execute any and all documents and instruments that may be necessary or desirable to accomplish the purposes of this Section 5.1, including any termination statements,
endorsements or other instruments of transfer or release. 
 (c) In the event that the aggregate principal amount of loans
outstanding under the First Lien Documents, at any time, is less than 15% of the sum of such amount and the aggregate principal amount of the Indebtedness outstanding under the Second Lien Documents, then any release or discharge with respect to the
Common Collateral (other than a release or discharge contemplated by Section 5.1(a)(i) or Section 5.1(a)(ii) above) shall require the consent of the holders of First Lien Claims and Second Lien Claims representing in the aggregate more
than 50% of the sum of (i) the aggregate principal amount of loans outstanding under the First Lien Documents and (ii) the aggregate principal amount of the Indebtedness outstanding under the Second Lien Documents. 

(d) Unless and until the Discharge of First Lien Claims has occurred, the Second Lien Agent, for itself and on behalf of each Second Lien
Secured Party, hereby consents to the application, whether prior to or after a default, of proceeds of Common Collateral or other collateral to the repayment of First Lien Claims pursuant to the First Lien Credit Agreement; provided that nothing in
this Section 5.1(d) shall be construed to prevent or impair the rights of the Second Lien Agent or the Second Lien Secured Parties to receive proceeds in connection with the Second Lien Claims not otherwise in contravention of this Agreement.

 5.2 Insurance. Unless and until the Discharge of First Lien Claims has occurred, the First Lien Agent and the First
Lien Lenders shall have the sole and exclusive right, subject to the rights of the Grantors under the First Lien Documents, to adjust settlement for any insurance policy covering the Common Collateral or any other collateral in the event of any loss
thereunder and to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral or such other collateral. Unless and until the Discharge of First Lien Claims has occurred, all proceeds of any such policy and any
such award if in respect of the Common Collateral or such other collateral shall be paid (a) first, prior to the occurrence of the Discharge of First Lien Claims, to the First Lien Agent for the benefit of First Lien Lenders pursuant to the
terms of the First Lien Documents, (b) second, after the occurrence of the Discharge of First Lien Claims, to the Second Lien Agent for the benefit of the Second Lien Secured Parties pursuant to the terms of the Second Lien Documents and
(c) third, if no Second Lien Obligations are outstanding, to the owner of the subject property, such other person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct. If the Second Lien Agent or any Second
Lien Secured Party shall, at any time, receive any proceeds of any such insurance policy or any such award in contravention of this Agreement, it shall pay such proceeds over to the First Lien Agent in accordance with the terms of Section 4.2.

  
 12 

 5.3 Amendments to Second Lien Collateral Documents. 

(a) So long as the Discharge of First Lien Claims has not occurred, without the prior written consent of the First Lien Agent and the
Required Lenders, no Second Lien Collateral Document may be amended, supplemented or otherwise modified or entered into to the extent such amendment, supplement or modification, or the terms of any new Second Lien Collateral Document, would be
prohibited by or inconsistent with any of the terms of this Agreement. The Second Lien Agent agrees that each Second Lien Collateral Document shall include the following language (or language of similar effect approved by the First Lien Agent):

 Notwithstanding anything herein to the contrary, the liens and security interests granted to the Second Lien Agent pursuant to
this agreement and the exercise of any right or remedy by the Second Lien Agent hereunder are subject to the limitations and provisions of the Intercreditor Agreement dated as of May 19, 2011 (as amended, restated, supplemented or otherwise
modified from time to time, the “Intercreditor Agreement”), among HSBC Bank plc, as First Lien Agent, the Second Lien Agent, Seven Seas Cruises S. DE R.L., Mariner, LLC, Celtic Pacific (UK) Two Limited and Supplystill Limited and
the subsidiaries party thereto. In the event of any conflict between the terms of the Intercreditor Agreement and the terms of this agreement, the terms of the Intercreditor Agreement shall govern. 

(b) In the event that the First Lien Agent or the First Lien Lenders under the First Lien Credit Agreement or, if there is no First Lien
Credit Agreement, any other First Lien Lenders, enter into any amendment, waiver or consent in respect of or replace any of the First Lien Collateral Documents for the purpose of adding to, or deleting from, or waiving or consenting to any
departures from any provisions of, any First Lien Collateral Document or changing in any manner the rights of the First Lien Agent, the First Lien Lenders or any Grantor thereunder (including the release of any Liens in First Lien Collateral), then
such amendment, waiver or consent shall apply automatically to any comparable provision of each Comparable Second Lien Collateral Document without the consent of the Second Lien Agent or any Second Lien Secured Party and without any action by the
Second Lien Agent or any Grantor; provided, that such amendment, waiver or consent does not (i) remove assets subject to the Second Liens or release any such Liens, except to the extent that such release is permitted or required by
Section 5.1 and provided that there is a concurrent release of the corresponding Liens securing First Lien Claims, (ii) amend, modify or otherwise affect the rights or duties of the Second Lien Agent without its prior written
consent, (iii) permit Liens on the Common Collateral (other than Liens securing DIP Financing) which are not permitted under the terms of the Second Lien Documents or Section 6 hereof, or (iv) otherwise does not materially adversely
affect the rights of the Second Lien Secured Parties or the interests of the Second Lien Secured Parties in the Second Lien Collateral and not the other creditors of such Grantor, as the case may be, that have a security interest in the affected
collateral in a like or similar manner (without regard to the fact that the Lien of such First Lien Collateral Document is senior to the Lien of the Comparable Second Lien Collateral Document). The First Lien Agent shall give written notice of such
amendment, waiver or consent to the Second Lien Agent; provided that the failure to give such notice shall not affect the effectiveness of such amendment, waiver or consent with respect to the provisions of any Second Lien Collateral Document
as set forth in this Section 5.3(b). 
 (c) Anything contained herein to the contrary notwithstanding, until the Discharge
of First Lien Claims has occurred, no Second Lien Collateral Document may be amended, supplemented or 

  
 13 

 
otherwise modified or entered into without the prior written consent of the First Lien Agent and, without limitation on the foregoing, no Second Lien Collateral Document shall be entered into
unless the collateral covered thereby is also subject to a perfected first-priority interest in favor of the First Lien Agent for the benefit of the First Lien Lenders pursuant to the First Lien Collateral Documents. 

5.4 Rights As Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Lien Agent and the
Second Lien Secured Parties may exercise rights and remedies as an unsecured creditor against SSC or any Subsidiary that has guaranteed the Second Lien Claims in accordance with the terms of the applicable Second Lien Documents and applicable law,
in each case to the extent not inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by the Second Lien Agent or any Second Lien Secured Party of the required payments of interest and principal so
long as such receipt is not the direct or indirect result of (a) the exercise by the Second Lien Agent or any Second Lien Secured Party of rights or remedies as a secured creditor in respect of Common Collateral or other collateral or
(b) enforcement in contravention of this Agreement of any Lien in respect of Second Lien Claims held by any of them. In the event the Second Lien Agent or any Second Lien Secured Party becomes a judgment lien creditor or other secured creditor,
in each case, in respect of Common Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Lien Claims or otherwise, such judgment or other lien shall be subordinated to the Liens
securing First Lien Claims on the same basis as the other Liens securing the Second Lien Claims are so subordinated to such Liens securing First Lien Claims under this Agreement. Nothing in this Agreement impairs or otherwise adversely affects any
rights or remedies the First Lien Agent or the First Lien Lenders may have with respect to the First Lien Collateral. 
 5.5
First Lien Agent as Gratuitous Bailee for Perfection. 
 (a) The First Lien Agent agrees to hold, maintain control or be
listed as an additional insured or loss payee with respect to the Pledged Collateral in its possession, control or with respect to which it is listed as an additional insured or a loss payee (or in the possession, control or with respect which an
additional insured or loss payee is its agent or bailee) as gratuitous bailee for the Second Lien Agent and any assignee solely for the purpose of perfecting the security interest granted in such Pledged Collateral pursuant to the Second Lien
Collateral Documents, subject to the terms and conditions of this Section 5.5 (such bailment being intended, among other things, to satisfy the requirements of Sections 8-106(d)(3), 8-301(a)(2) and 9-313(c) of the UCC). 

(b) In the event that the First Lien Agent (or its agent or bailee) has Lien filings against the Common Collateral that are necessary for
the perfection of Liens in such Common Collateral, the First Lien Agent agrees to hold such Liens as gratuitous bailee for the Second Lien Agent and any assignee solely for the purpose of perfecting the security interest granted in such Liens
pursuant to the Second Lien Collateral Documents, subject to the terms and conditions of this Section 5.5. 
 (c) Except as
otherwise specifically provided herein (including Sections 3.1 and 4.1), until the Discharge of First Lien Claims has occurred, the First Lien Agent shall be entitled to deal with the Pledged Collateral in accordance with the terms of the First Lien
Documents as if the Liens under the Second Lien Collateral Documents did not exist. The rights of the Second Lien Agent and the Second Lien Secured Parties with respect to such Pledged Collateral shall at all times be subject to the terms of this
Agreement. 
 (d) The First Lien Agent shall not have any obligation whatsoever to the Second Lien Agent or any Second Lien
Secured Party to assure that the Pledged Collateral is genuine or owned 

  
 14 

 
by the Grantors or to protect or preserve rights or benefits of any Person or any rights pertaining to the Common Collateral except as expressly set forth in this Section 5.5. The duties and
responsibilities of the First Lien Agent under this Section 5.5 shall be limited solely to holding the Pledged Collateral as gratuitous bailee for the Second Lien Agent for purposes of perfecting the Lien held by the Second Lien Secured
Parties. 
 (e) The First Lien Agent shall not have by reason of the Second Lien Collateral Documents or this Agreement or any
other document a fiduciary relationship in respect of the Second Lien Agent or any Second Lien Secured Party and the Second Lien Agent and the Second Lien Secured Parties hereby waive and release the First Lien Agent from all claims and liabilities
arising pursuant to its role under this Section 5.5, as agent and gratuitous bailee with respect to the Common Collateral. 

(f) Upon the Discharge of First Lien Claims, the First Lien Agent shall deliver to the Second Lien Agent, to the extent that it is
legally permitted to do so, the remaining Pledged Collateral (if any) together with any necessary endorsements (or otherwise allow the Second Lien Agent to obtain control of such Pledged Collateral) or as a court of competent jurisdiction may
otherwise direct. The Grantors shall take such further action as is required to effectuate the transfer contemplated hereby and shall indemnify the First Lien Agent for loss or damage suffered by the First Lien Agent as a result of such transfer
except for loss or damage suffered by the First Lien Agent as a result of its own willful misconduct, gross negligence or bad faith. The First Lien Agent has no obligation to follow instructions from the Second Lien Agent in contravention of this
Agreement. 
 (g) Neither the First Lien Agent nor the First Lien Lenders shall be required to marshal any present or future
collateral security for SSC’s or its Subsidiaries’ obligations to the First Lien Agent or the First Lien Lenders under the First Lien Credit Agreement or the First Lien Collateral Documents or any assurance of payment in respect thereof or
to resort to such collateral security or other assurances of payment in any particular order, and all of their rights in respect of such collateral security or any assurance of payment in respect thereof shall be cumulative and in addition to all
other rights, however existing or arising. 
 5.6 Purchase Right. Without prejudice to the enforcement of the First Lien
Lenders’ remedies, the First Lien Agent agrees, for itself and on behalf of the First Lien Lenders that following (a) acceleration of the First Lien Claims in accordance with the terms of the First Lien Credit Agreement, (b) a payment
default under the First Lien Credit Agreement that has not been cured or waived by the First Lien Lenders within sixty (60) days of the occurrence thereof or (c) the commencement of an Insolvency or Liquidation Proceeding (each, a
“Purchase Event”), within thirty (30) days of the Purchase Event, one or more of the Second Lien Secured Parties may request, and the First Lien Lenders hereby offer the Second Lien Secured Parties the option, to purchase all,
but not less than all, of the aggregate amount of outstanding First Lien Claims (other than First Lien Claims arising under Secured Hedge Agreements), outstanding at the time of purchase at par, plus any premium that would be applicable upon
prepayment of such First Lien Claims and accrued and unpaid interest and fees, without warranty or representation or recourse (except for representations and warranties required to be made by assigning lenders pursuant to the Assignment and
Acceptance (as such term is defined in the First Lien Credit Agreement)). If such right is exercised, the parties shall endeavor to close promptly thereafter but in any event within ten (10) Business Days of the request. If one or more of the
Second Lien Secured Parties exercise such purchase right, it shall be exercised pursuant to documentation mutually acceptable to each of the First Lien Agent and the Second Lien Agent. If none of the Second Lien Secured Parties exercise such right,
the First Lien Lenders shall have no further obligations pursuant to this Section 5.6 for such 

  
 15 

 
Purchase Event and may take any further actions in their sole discretion in accordance with the First Lien Documents and this Agreement. 
 Section 6. Insolvency or Liquidation Proceedings. 
 6.1 Financing
Issues. If any Grantor shall be subject to any Insolvency or Liquidation Proceeding and the First Lien Agent shall desire to permit the use of cash collateral or to permit any Grantor to obtain financing under Section 363 or
Section 364 of Title 11 of the United States Code or any similar provision in any Bankruptcy Law (“DIP Financing”), then the Second Lien Agent, on behalf of itself and each Second Lien Secured Party, agrees that it will raise
no objection to, and will not support any objection to, and will not otherwise contest (a) such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent
permitted by Section 6.3) and, to the extent the Liens securing the First Lien Claims under the First Lien Credit Agreement or, if no First Lien Credit Agreement exists, under the other First Lien Documents are subordinated or pari passu
with such DIP Financing, will subordinate its Liens in the Common Collateral and any other collateral to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Second Lien Claims are so
subordinated to Liens securing First Lien Claims under this Agreement, (b) any motion for relief from the automatic stay or from any injunction against foreclosure or enforcement in respect of First Lien Claims made by the First Lien Agent or
any holder of First Lien Claims, (c) any lawful exercise by any holder of First Lien Claims of the right to credit bid First Lien Claims at any sale in foreclosure of First Lien Collateral, (d) any other request for judicial relief made in
any court by any holder of First Lien Claims relating to the lawful enforcement of any Lien on First Lien Collateral or (e) any order relating to a sale of assets of any Grantor for which the First Lien Agent has consented that provides, to the
extent the sale is to be free and clear of Liens, that the Liens securing the First Lien Claims and the Second Lien Claims will attach to the proceeds of the sale on the same basis of priority as the Liens securing the First Lien Collateral do to
the Liens securing the Second Lien Collateral in accordance with this Agreement provided, however, that the provisions of this Section 6.1 shall only be applicable as to the Second Lien Agent and the Second Lien Secured Parties if
the sum of (x) the aggregate principal amount of the DIP Financing and (y) the aggregate principal amount of the pre-petition First Lien Claims (other than First Lien Claims arising under Secured Hedge Agreements) does not exceed the sum
of (i) the aggregate principal amount of the pre-petition First Lien Claims (other than First Lien Claims arising under Secured Hedge Agreements) and (ii) $100,000,000. 

6.2 Relief from the Automatic Stay. Until the Discharge of First Lien Claims has occurred, the Second Lien Agent, on behalf of
itself and each Second Lien Secured Party, agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Common Collateral or any other collateral, without the
prior written consent of the First Lien Agent and the Required Lenders. 
 6.3 Adequate Protection. The Second Lien
Agent, on behalf of itself and each Second Lien Secured Party, agrees that none of them shall contest (or support any other Person contesting) (a) any request by the First Lien Agent or the First Lien Lenders for adequate protection or
(b) any objection by the First Lien Agent or the First Lien Lenders to any motion, relief, action or proceeding based on the First Lien Agent’s or the First Lien Lenders’ claiming a lack of adequate protection. Notwithstanding the
foregoing, in any Insolvency or Liquidation Proceeding, (i) if the First Lien Lenders (or any subset thereof) are granted adequate protection in the form of additional collateral in connection with any DIP Financing or use of cash collateral
under Section 363 or Section 364 of Title 11 of the United States Code or any similar Bankruptcy Law, then the Second Lien Agent, on behalf of itself and any Second Lien Secured Party, (A) may seek or request adequate protection in
the form of a replacement Lien on such 

  
 16 

 
additional collateral, which Lien is subordinated to the Liens securing the First Lien Claims and such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens
securing the Second Lien Claims are so subordinated to the Liens securing First Lien Claims under this Agreement and (B) agrees that it will not seek or request, and will not accept, adequate protection in any other form, and (ii) in the
event the Second Lien Agent, on behalf of itself or any Second Lien Secured Party, seeks or requests adequate protection and such adequate protection is granted in the form of additional collateral, then the Second Lien Agent, on behalf of itself or
each such Second Lien Secured Party, agrees that the First Lien Agent shall also be granted a First Lien on such additional collateral as security for the applicable First Lien Claims and any such DIP Financing and that any Lien on such additional
collateral securing the Second Lien Claims shall be subordinated to the Liens on such collateral securing the First Lien Claims and any such DIP Financing (and all Obligations relating thereto) and any other Liens granted to the First Lien Lenders
as adequate protection on the same basis as the other Liens securing the Second Lien Claims are so subordinated to such Liens securing First Lien Claims under this Agreement. 
 6.4 Avoidance Issues. If any First Lien Lender is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of any Grantor (or any trustee,
receiver or similar person therefor), because the payment of such amount was declared to be fraudulent or preferential in any respect or for any other reason, any amount (a “Recovery”), whether received as proceeds of security,
enforcement of any right of setoff or otherwise, then as among the parties hereto the First Lien Claims shall be deemed to be reinstated to the extent of such Recovery and to be outstanding as if such payment had not occurred, any Discharge of First
Lien Claims that had occurred shall be deemed not to have occurred and the First Lien Lenders shall be entitled to a Discharge of First Lien Claims with respect to all such recovered amounts and shall have all rights hereunder until such time. If
this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the
parties hereto. 
 6.5 Application. This Agreement shall be applicable prior to and after the commencement of any
Insolvency or Liquidation Proceeding. All references herein to any Grantor shall apply to any trustee for such Person and such Person as debtor in possession. The relative rights as to the Common Collateral and other collateral and proceeds thereof
shall continue after the filing thereof on the same basis as prior to the date of the petition, subject to any court order approving the financing of, or use of cash collateral by, any Grantor. 

6.6 Waivers. Until the Discharge of First Lien Claims has occurred, the Second Lien Agent, on behalf of itself and each Second
Lien Secured Party, (a) will not assert or enforce any claim under Section 506(c) of the United States Bankruptcy Code senior to or on a parity with the Liens securing the First Lien Claims for costs or expenses of preserving or disposing
of any Common Collateral or other collateral and (b) waives any claim it may now or hereafter have arising out of the election by any First Lien Lender of the application of Section 1111(b)(2) of the Bankruptcy Code. 

6.7 Nature of Obligations; Post Petition Interest. The Second Lien Agent, on behalf of the Second Lien Secured Parties, and each
of the Second Lien Secured Parties hereby acknowledges and agrees that (i) the Second Lien Secured Parties’ claims against the Grantors in respect of the Common Collateral constitute junior claims separate and apart (and of a different
class) from the senior claims of the First Lien Lenders against the Grantors in respect of the Common Collateral and (ii) the First Lien Claims include all interest that accrues after the commencement of any case, proceeding or other action
relating to the bankruptcy, insolvency, receivership, reorganization or similar proceeding of any Grantor at the rate provided for in the applicable First Lien Documents or Second Lien Documents (as the case

  
 17 

 
may be) governing the same, whether or not a claim for post-petition interest is allowed in any such case, proceeding or other action. To further effectuate the intent of the parties as provided
in the immediately preceding sentence, if it is held that the claims against the Grantors in respect of the Common Collateral constitute only one secured claim (rather than separate classes of senior and junior claims), then the Second Lien Agent,
on behalf of the Second Lien Secured Parties, and each of the Second Lien Secured Parties hereby acknowledge and agree that all distributions pursuant to Section 4.1 or otherwise shall be made as if there were separate classes of senior and
junior secured claims against the Grantors in respect of the Common Collateral (with the effect being that, to the extent that the aggregate value of the Common Collateral is sufficient (for this purpose ignoring all claims held by the Second Lien
Agent on behalf of the Second Lien Secured Parties), the First Lien Lenders shall be entitled to receive, in addition to amounts distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing in respect of
post-petition interest at the relevant contract rate (even though such claims may or may not be allowed in whole or in part in the respective bankruptcy, insolvency, reorganization, receivership or similar proceeding) before any distribution is made
in respect of the claims held by the Second Lien Agent, on behalf of the Second Lien Secured Parties, with the Second Lien Agent and each of the Second Lien Secured Parties hereby acknowledging and agreeing to turn over to the holders of the First
Lien Claims all amounts otherwise received or receivable by them to the extent needed to effectuate the intent of this sentence even if such turnover of amounts has the effect of reducing the amount of the claim of the Second Lien Secured Parties).

 Section 7. Reliance; Waivers; etc. 
 7.1 Reliance. The consent by the First Lien Lenders to the execution and delivery of the Second Lien Documents to which the First Lien Lenders have consented and all loans and other extensions of
credit made or deemed made on and after the date hereof by the First Lien Lenders to SSC or any Subsidiary shall be deemed to have been given and made in reliance upon this Agreement. The Second Lien Agent, on behalf of itself and each Second Lien
Secured Party, acknowledges that it and the Second Lien Secured Parties are not entitled to rely on any credit decision or other decisions made by the First Lien Agent or any First Lien Lender in taking or not taking any action under the applicable
Second Lien Document or this Agreement. 
 7.2 No Warranties or Liability. Except as set forth in Section 8.15, none
of the First Lien Agent or any First Lien Lender shall have been deemed to have made any express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of
any of the First Lien Documents, the ownership of any Common Collateral or the perfection or priority of any Liens thereon. The First Lien Lenders will be entitled to manage and supervise their respective loans and extensions of credit under the
First Lien Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate, and the First Lien Lenders may manage their loans and extensions of credit without regard to any rights or interests that the Second
Lien Agent or any of the Second Lien Secured Parties have in the Common Collateral or otherwise, except as otherwise provided in this Agreement. None of the First Lien Agent nor any First Lien Lender shall have any duty to the Second Lien Agent or
any Second Lien Secured Party to act or refrain from acting in a manner that allows, or results in, the occurrence or continuance of an event of default or default under any agreements with SSC or any Subsidiary thereof (including the Second Lien
Documents), regardless of any knowledge thereof that they may have or be charged with. Except as expressly set forth in this Agreement, the First Lien Agent, the First Lien Lenders, the Second Lien Agent and the Second Lien Secured Parties have not
otherwise made to each other, nor do they hereby make to each other, any warranties, express or implied, nor do they assume any liability to each other with respect to (a) the enforceability, validity, value or collectibility of any of the
Second Lien Claims, the First Lien 

  
 18 

 
Claims or any guarantee or security which may have been granted to any of them in connection therewith, (b) any Grantor’s title to or right to transfer any of the Common Collateral or
(c) any other matter except as expressly set forth in this Agreement. 
 7.3 No Waiver of Lien Priorities.

 (a) No right of the First Lien Agent or the First Lien Lenders or any of them to enforce any provision of this Agreement or
any First Lien Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part any Grantor or by any act or failure to act by the First Lien Agent or the First Lien Lenders, or by any noncompliance by any
Person with the terms, provisions and covenants of this Agreement, any of the First Lien Documents or any of the Second Lien Documents, regardless of any knowledge thereof which the First Lien Agent or the First Lien Lenders, or any of them, may
have or be otherwise charged with. 
 (b) Without in any way limiting the generality of the foregoing paragraph (but subject to
the rights of the Grantors under the First Lien Documents and subject to the provisions of Section 5.3(b)), the First Lien Agent or the First Lien Lenders and any of them may, at any time and from time to time in accordance with the First Lien
Documents and/or applicable law, without the consent of, or notice to, the Second Lien Agent or any Second Lien Secured Party, without incurring any liabilities to the Second Lien Agent or any Second Lien Secured Party and without impairing or
releasing the Lien priorities and other benefits provided in this Agreement (even if any right of subrogation or other right or remedy of the Second Lien Agent or any Second Lien Secured Party is affected, impaired or extinguished thereby) do any
one or more of the following: 
 (i) change the manner, place or terms of payment or change or extend the time of
payment of, or amend, renew, exchange, increase or alter the terms of any of the First Lien Claims or any Lien on any First Lien Collateral or guaranty thereof or any liability of the Borrowers or any other Grantor, or any liability incurred
directly or indirectly in respect thereof (including any increase in or extension of the First Lien Claims, without any restriction as to the amount, tenor or terms of any such increase or extension) or otherwise amend, renew, exchange, extend,
modify or supplement in any manner any Liens held by the First Lien Agent or the First Lien Lenders, the First Lien Claims or any of the First Lien Documents; 
 (ii) sell, exchange, release, surrender, realize upon, enforce or otherwise deal with in any manner and in any order any part of the First Lien Collateral or other collateral or any liability of any
Grantor to the First Lien or the First Lien Lenders, or any liability incurred directly or indirectly in respect thereof; 
 (iii) settle or compromise any First Lien Claim or any other liability of the any Grantor or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by
whomsoever paid and however realized to any liability (including the First Lien Claims) in any manner or order; and 
 (iv) exercise or delay in or refrain from exercising any right or remedy against the Grantors or any security or any other Person, elect any remedy and otherwise deal freely with the any Grantor or any
First Lien Collateral and any security and any guarantor of any liability of any Grantor to the First Lien Lenders or any liability incurred directly or indirectly in respect thereof. 

  
 19 

 (c) The Second Lien Agent, on behalf of itself and the Second Lien Secured Parties, also
agrees that the First Lien Agent and the First Lien Lenders shall have no liability to the Second Lien Agent or any Second Lien Secured Party, and the Second Lien Agent, on behalf of itself and the Second Lien Secured Parties, hereby waives any
claim against the First Lien Agent and the First Lien Lenders, arising out of any and all actions which the First Lien Agent or the First Lien Lenders may take or permit or omit to take with respect to: (i) the First Lien Documents,
(ii) the collection of the First Lien Claims or (iii) the foreclosure upon, or sale, liquidation or other disposition of, any First Lien Collateral or other collateral. The Second Lien Agent, on behalf of itself and the Second Lien Secured
Parties, agrees that the First Lien Agent and the First Lien Lenders have no duty to them in respect of the maintenance or preservation of the First Lien Collateral, the First Lien Claims or otherwise. 

(d) The Second Lien Agent, on behalf of itself and the Second Lien Secured Parties, agrees not to assert and hereby waives, to the
fullest extent permitted by law, any right to demand, request, plead or otherwise assert or otherwise claim the benefit of, any marshalling, appraisal, valuation or other similar right that may otherwise be available under applicable law with
respect to the Common Collateral or other collateral or any other similar rights a junior secured creditor may have under applicable law. 
 7.4 Obligations Unconditional. All rights, interests, agreements and obligations of the First Lien Agent and the First Lien Lenders, and the Second Lien Agent and the Second Lien Secured Parties,
respectively, hereunder shall remain in full force and effect irrespective of: 
 (a) any lack of validity or enforceability of
any First Lien Documents or any Second Lien Documents; 
 (b) any change in the time, manner or place of payment of, or in any
other terms of, all or any of the First Lien Claims or Second Lien Claims, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of the terms of the First Lien
Credit Agreement or any other First Lien Document or of the terms of any Second Lien Document; 
 (c) any exchange of any
security interest in any Common Collateral or any other collateral, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the First Lien Claims or Second Lien Claims or any
guarantee thereof; 
 (d) the commencement of any Insolvency or Liquidation Proceeding in respect of any Grantor; or 

(e) any other circumstances that otherwise might constitute a defense available to, or a discharge of, any Grantor in respect of the
First Lien Claims, or of the Second Lien Agent or any Second Lien Secured Party in respect of this Agreement. 
 Section 8.
Miscellaneous. 
 8.1 Conflicts. Subject to Section 8.19, in the event of any conflict between the provisions
of this Agreement and the provisions of any First Lien Document or any Second Lien Document, the provisions of this Agreement shall govern. 

  
 20 

 8.2 Continuing Nature of this Agreement; Severability. Subject to Section 6.4,
this Agreement shall continue to be effective until the Discharge of First Lien Claims shall have occurred or such later time as all the Obligations in respect of the Second Lien Claims shall have been paid in full. This is a continuing agreement of
lien subordination and the First Lien Lenders may continue, at any time and without notice to each Second Lien Agent or any Second Lien Secured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of any
Grantor constituting First Lien Claims in reliance hereon. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 8.3 Amendments; Waivers. No amendment, modification or waiver of any of the provisions of this Agreement by the Second
Lien Agent or the First Lien Agent shall be deemed to be made unless the same shall be in writing signed on behalf of the party making the same or its authorized agent and each waiver, if any, shall be a waiver only with respect to the specific
instance involved and shall in no way impair the rights of the parties making such waiver or the obligations of the other parties to such party in any other respect or at any other time. The Grantors shall not have any right to consent to or approve
any amendment, modification or waiver of any provision of this Agreement except to the extent their rights are affected. 
 8.4
Information Concerning Financial Condition of SSC and the Subsidiaries. Neither the First Lien Agent nor any First Lien Lender shall have any obligation to the Second Lien Agent or any Second Lien Secured Party to keep the Second Lien Agent
or any Second Lien Secured Party informed of, and the Second Lien Agent and the Second Lien Secured Parties shall not be entitled to rely on the First Lien Agent or the First Lien Lenders with respect to, (a) the financial condition of SSC and
the Subsidiaries and all endorsers and/or guarantors of the Second Lien Claims or the First Lien Claims and (b) all other circumstances bearing upon the risk of nonpayment of the Second Lien Claims or the First Lien Claims. The First Lien
Agent, the First Lien Lenders, the Second Lien Agent and the Second Lien Secured Parties shall have no duty to advise any other party hereunder of information known to it or them regarding such condition or any such circumstances or otherwise. In
the event that the First Lien Agent, any First Lien Lender, the Second Lien Agent or any Second Lien Secured Party, in its or their sole discretion, undertakes at any time or from time to time to provide any such information to any other party, it
or they shall be under no obligation (w) to make, and the First Lien Agent, the First Lien Lenders, the Second Lien Agent and the Second Lien Secured Parties shall not make, any express or implied representation or warranty, including with
respect to the accuracy, completeness, truthfulness or validity of any such information so provided, (x) to provide any additional information or to provide any such information on any subsequent occasion, (y) to undertake any
investigation or (z) to disclose any information that, pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain confidential or is otherwise required to maintain confidential. 

8.5 Subrogation. The Second Lien Agent, on behalf of itself and each Second Lien Secured Party, hereby waives any rights of
subrogation it may acquire as a result of any payment hereunder until the Discharge of First Lien Claims has occurred. 
 8.6
Application of Payments. Except as otherwise provided herein, all payments received by the First Lien Lenders may be applied, reversed and reapplied, in whole or in part, to such part of the First Lien Claims as the First Lien Lenders, in
their sole discretion, deem appropriate, consistent with the terms of the First Lien Documents. Except as otherwise provided herein, the Second Lien Agent, on behalf of 

  
 21 

 
itself and each Second Lien Secured Party, assents to any such extension or postponement of the time of payment of the First Lien Claims or any part thereof and to any other indulgence with
respect thereto, to any substitution, exchange or release of any security that may at any time secure any part of the First Lien Claims and to the addition or release of any other Person primarily or secondarily liable therefor. 

8.7 Consent to Jurisdiction; Waivers. The parties hereto consent to the nonexclusive jurisdiction of any state or federal court
located in New York, New York (the “New York Courts”), and consent that all service of process may be made by registered mail directed to such party as provided in Section 8.8 for such party. Service so made shall be deemed to
be completed three days after the same shall be posted as aforesaid. The parties hereto waive any objection to any action instituted hereunder in any such court based on forum non conveniens, and any objection to the venue of any action instituted
hereunder in any such court. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING,
VERBAL OR WRITTEN STATEMENT OR ACTION OF ANY PARTY HERETO IN CONNECTION WITH THE SUBJECT MATTER HEREOF. Nothing in this Agreement shall affect any right that any party may otherwise have to bring any action or proceeding relating to this Agreement
in the courts of any jurisdiction, except that each Grantor, each Second Lien Secured Party and the Second Lien Agent agrees that (a) it will not bring any such action or proceeding in any court other than New York Courts (it being acknowledged
and agreed by the parties hereto that any other forum would be inconvenient and inappropriate in view of the fact that more of the holders of First Lien Claims and Second Lien Claims who would be affected by any such action or proceeding have
contacts with the State of New York than any other jurisdiction), and (b) in any such action or proceeding brought against the Second Lien Agent or any Grantor or any Second Lien Secured Party in any other court, it will not assert any
cross-claim, counterclaim or setoff, or seek any other affirmative relief, except to the extent that the failure to assert the same will preclude such Grantor or such Second Lien Secured Party from asserting or seeking the same in the New York
Courts. 
 8.8 Notices. All notices to the Second Lien Secured Parties and the First Lien Lenders permitted or required
under this Agreement may be sent to the Second Lien Agent or the First Lien Agent as provided in the Second Lien Indenture, the First Lien Credit Agreement, the other relevant First Lien Documents or the other relevant Second Lien Documents, as
applicable. Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be given shall be in writing and may be personally served, telecopied, electronically mailed or sent by courier service or
U.S. mail and shall be deemed to have been given when delivered in person or by courier service, upon receipt of a telecopy or electronic mail or upon receipt via U.S. mail (registered or certified, with postage prepaid and properly addressed).
For the purposes hereof, the addresses of the Grantors shall be as set forth below SSC’s name on the signature pages hereto, or, as to each party, at such other address as may be designated by such party in a written notice to all of the other
parties. The First Lien Agent hereby agrees to promptly notify the Second Lien Agent upon payment in full in cash of all Indebtedness under the applicable First Lien Documents (except for contingent indemnities and cost and reimbursement obligations
to the extent no claim therefor has been made). 
 8.9 Further Assurances. The Second Lien Agent, on behalf of itself and
each Second Lien Secured Party, and the First Lien Agent, on behalf of itself and each First Lien Lender, agrees that each of them shall take such further action and shall execute and deliver to the First Lien Agent and the First Lien Lenders such
additional documents and instruments (in recordable form, if requested) as the First Lien Agent or the First Lien Lenders may reasonably request, at the expense of SSC, to effectuate the terms of and the lien priorities contemplated by this
Agreement. 

  
 22 

 8.10 Governing Law. This Agreement shall be interpreted, and the rights and
liabilities of the parties bound hereby determined, in accordance with the laws of the State of New York. 
 8.11 Binding on
Successors and Assigns. This Agreement shall be binding upon the First Lien Agent, the First Lien Lenders, the Second Lien Agent, the Second Lien Secured Parties, SSC, SSC’s Subsidiaries party hereto and their respective permitted
successors and assigns. 
 8.12 Specific Performance. The First Lien Agent may demand specific performance of this
Agreement. The Second Lien Agent, on behalf of itself and each Second Lien Secured Party, hereby irrevocably waives any defense based on the adequacy of a remedy at law and any other defense that might be asserted to bar the remedy of specific
performance in any action that may be brought by the First Lien Agent. 
 8.13 Section Titles. The section titles
contained in this Agreement are and shall be without substantive meaning or content of any kind whatsoever and are not a part of this Agreement. 
 8.14 Counterparts. This Agreement may be executed in one or more counterparts, including by means of facsimile, each of which shall be an original and all of which shall together constitute one and
the same document. 
 8.15 Authorization. By its signature, each Person executing this Agreement on behalf of a party
hereto represents and warrants to the other parties hereto that it is duly authorized to execute this Agreement. 
 8.16 No
Third Party Beneficiaries; Successors and Assigns. This Agreement and the rights and benefits hereof shall inure to the benefit of, and be binding upon, each of the parties hereto and their respective successors and assigns and shall inure to
the benefit of each of, and be binding upon, the holders of First Lien Claims and Second Lien Claims. No other Person shall have or be entitled to assert rights or benefits hereunder. 

8.17 Effectiveness. This Agreement shall become effective when executed and delivered by the parties hereto. This Agreement shall
be effective both before and after the commencement of any Insolvency or Liquidation Proceeding. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for such Grantor in any
Insolvency or Liquidation Proceeding. 
 8.18 First Lien Agent and Second Lien Agent. It is understood and agreed that
(a) HSBC is entering into this Agreement in its capacity as collateral agent under the First Lien Credit Agreement and the provisions of Article VIII of the First Lien Credit Agreement applicable to HSBC as collateral agent thereunder shall
also apply to HSBC as the First Lien Agent hereunder and (b) Wilmington is entering into this Agreement in its capacity as collateral agent under the Second Lien Indenture and the provisions of Article XI of the Second Lien Indenture applicable
to Wilmington as collateral agent thereunder shall also apply to Wilmington as the Second Lien Agent hereunder. 
 8.19
Relative Rights. Notwithstanding anything in this Agreement to the contrary (except to the extent contemplated by Section 5.3(b)), nothing in this Agreement is intended to or will (a) amend, waive or otherwise modify the provisions
of the First Lien Credit Agreement or any First Lien Documents or Second Lien Documents entered into in connection with the First Lien Credit Agreement, the Second Lien Indenture or any First Lien Document or Second Lien Document or permit the

  
 23 

 
Borrowers or any Subsidiary to take any action, or fail to take any action, to the extent such action or failure would otherwise constitute a breach of, or default under, the First Lien Credit
Agreement or any other First Lien Documents entered into in connection with the First Lien Credit Agreement, the Second Lien Indenture or any Second Lien Documents, (b) change the relative priorities of the First Lien Claims or the Liens
granted under the First Lien Documents on the Common Collateral (or any other assets) as among the First Lien Lenders, (c) otherwise change the relative rights of the First Lien Lenders in respect of the Common Collateral as among such First
Lien Lenders or (d) obligate SSC or any Subsidiary to take any action, or fail to take any action, that would otherwise constitute a breach of, or default under, the First Lien Credit Agreement or any other First Lien Document entered into in
connection with the First Lien Credit Agreement, the Second Lien Indenture or any Second Lien Documents. 
 8.20
References. Notwithstanding anything to the contrary in this Agreement, any references contained herein to any Section, clause, paragraph, definition or other provision of the Second Lien Indenture (including any definition contained therein)
shall be deemed to be a reference to such Section, clause, paragraph, definition or other provision as in effect on the date of this Agreement; provided that any reference to any such Section, clause, paragraph or other provision shall refer
to such Section, clause, paragraph or other provision of the Second Lien Indenture, as applicable (including any definition contained therein), as amended or modified from time to time if such amendment or modification has been (1) made in
accordance with the Second Lien Indenture, and (2) approved in writing by, or on behalf of, the requisite First Lien Lenders as are needed under the terms of the First Lien Credit Agreement to approve such amendment or modification. 

8.21 Supplements. Upon the execution by any Subsidiary of a supplement hereto in form and substance satisfactory to the First Lien
Agent, such Subsidiary shall be a party to this Agreement and shall be bound by the provisions hereof to the same extent as each Grantor is so bound. 
 8.22 Joinder Requirements. The Grantors, without the consent of the First Lien Agent or the Second Lien Agent, any First Lien Lender or any Second Lien Secured Party, may designate additional
obligations as Second Lien Claims if the incurrence of such obligations is permitted under each of the First Lien Credit Agreement, the Second Lien Indenture, each other First Lien Document and Second Lien Document and this Agreement. If so
permitted, as a condition precedent to the effectiveness of such designation, the administrative agent or trustee and collateral agent for such additional Second Lien Claims shall execute and deliver to the First Lien Agent and the Second Lien
Agent, a joinder agreement to this Agreement in form attached hereto as Exhibit A, at which point such designation shall be effective for all purposes under this Agreement. The First Lien Agent and/or the Second Lien Agent agree that, at the request
of the Grantors, the parties hereto shall endeavor to enter into a supplemental agreement (which may take the form of an amendment, an amendment and restatement or a supplement of this Agreement) to facilitate the designation of such additional
obligations as additional Second Lien Claims for all purposes of this Agreement, subject to any consents which may be required under the First Lien Credit Agreement or the Second Lien Indenture, as applicable. The First Lien Agent, the Second Lien
Agent and any other parties hereto holding such additional Second Lien Claims shall be entitled to rely on the determination of officers of the Grantors that such modifications do not violate the First Lien Credit Agreement, the Second Lien
Indenture, any other First Lien Document or Second Lien Document and this Agreement, if such determination is set forth in an officers’ certificate delivered to such other party, the First Lien Agent and the Second Lien Agent; provided,
however, that such determination will not affect whether or not the Grantors have complied with its undertakings in such agreements and documents. 

  
 24 

 [Remainder of page intentionally left blank] 

  
 25 

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

			
	SEVEN SEAS CRUISES S. DE R.L.
		
	By:	 	 /s/ Gema M. Piñon

	Name:	 	Gema M. Piñon
	Title:	 	Senior Vice President, General Counsel and Secretary

  

			
	MARINER, LLC
		
	By:	 	 /s/ Gema M. Piñon

	Name:	 	Gema M. Piñon
	Title:	 	Manager

  

			
	CELTIC PACIFIC (UK) TWO LIMITED
		
	By:	 	 /s/ Graham P. Sadler

		 	Name: Graham P. Sadler
		 	Title:   Director

  

			
	SUPPLYSTILL LIMITED
		
	By:	 	 /s/ Graham P. Sadler

		 	Name: Graham P. Sadler
		 	Title:   Director

 INTERCREDITOR AGREEMENT 

 
			
	 HSBC BANK PLC,
 as
First Lien Agent

		
	By:	 	 /s/ Ronald Keith Lane-Smith

		 	Name: Ronald Keith Lane-Smith
		 	Title: Authorized Signature

 INTERCREDITOR AGREEMENT 

 
			
	 WILMINGTON TRUST FSB,
 as Second Lien Agent

		
	By:	 	 /s/ Jane Schweiger

		 	Name: Jane Schweiger
		 	Title:   Vice President

 INTERCREDITOR AGREEMENT 

 EXHIBIT A 
 FORM OF JOINDER AND SUPPLEMENT 
 to 

INTERCREDITOR AGREEMENT 
 Reference is made to that certain Intercreditor Agreement, dated as of May 19, 2011 (as supplemented on the date hereof through the execution and delivery of this Agreement and as the same may be
further amended, restated, renewed, extended, replaced, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among HSBC BANK PLC, as First Lien Agent, Wilmington Trust FSB, as Second Lien Agent, and
Seven Seas Cruises S. de R.L. (formerly known as Classic Cruises Holdings S. de R.L.), a Panamanian sociédad de responsibilidad limitada (“SSC”); Mariner, LLC (as assignee of Radisson Seven Seas (France), a French
société en nom collectif), a Marshall Islands limited liability company (“Mariner”), Celtic Pacific (UK) Two Limited, a company organized and existing under the laws of the Bahamas (“CP2”) and
Supplystill Limited, an English private limited company (“Supplystill”) (SSC, Mariner, CP2 and Supplystill collectively, the “Borrowers”), and other parties that may become party thereto from time to time (attached
hereto as Exhibit A). Capitalized terms used but not defined herein shall have the meanings assigned in the Intercreditor Agreement. 
 This Joinder and Supplement to the Intercreditor Agreement (this “Agreement”), dated as of [     ] (the “Effective Date”), by
[     ], as [trustee/agent] (the “New Agent”) pursuant to the [indenture/credit agreement] to be entered into as of the date hereof (the “[New [Indenture/New Credit Agreement]”), has been entered
into to record the accession of the New Agent as the collateral agent of the Obligations created pursuant to the [New Indenture/New Credit Agreement] under the Intercreditor Agreement on behalf of the [holders of the notes issued pursuant to the New
Indenture]/[lenders under the New Credit Agreement]. 
 The New Agent hereby agrees as follows: 

A. The New Agent agrees to become, with immediate effect, a party to the Intercreditor Agreement, and agrees to be bound by the terms of
the Intercreditor Agreement as a Second Lien Agent, as if it had originally been party to the Intercreditor Agreement as a Second Lien Agent. 
 B. The Obligations created under the [New Indenture/New Credit Agreement] are hereby designated as Second Lien Claims. 
 C. The New Agent confirms that its address for notices pursuant to the Intercreditor Agreement is as follows: 
 [New Agent] 
 [Address 1] 

[Address 2] 

[City State Country] 
 [Postal Code] 
 [Facsimile] 

[Attention] 

 D. This Agreement shall be construed in accordance with and governed by the laws of the
State of New York. 
 E. This Agreement may be executed in counterparts, each of which shall constitute an original but all of
which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 

[SIGNATURE PAGES FOLLOW] 

 IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the Effective Date.

  

			
	[    ]
		
	By:	 	  

	Name:	 	
	Title:	 	

 INTERCREDITOR AGREEMENTSecond Lien Collateral Agreement

 Exhibit 4.5 

 
  

SECOND LIEN COLLATERAL AGREEMENT 
 Dated and effective as of May 19, 2011, 
 among 

MARINER, LLC, 

CELTIC PACIFIC (UK) TWO LIMITED 
 and 
 SUPPLYSTILL LIMITED, 

as Pledgors, 

and 
 WILMINGTON
TRUST FSB, 
 as Collateral Agent 
  

 
  

 Exhibit 4.5 
 TABLE OF CONTENTS 
  

							
	 	  	 	  	Page	 
		
	 ARTICLE I      DEFINITIONS
	  	 	2	  
			
	         Section 1.01
	  	Indenture	  	 	2	  
			
	         Section 1.02
	  	Terms Generally	  	 	2	  
			
	         Section 1.03
	  	Other Defined Terms	  	 	2	  
		
	 ARTICLE II     SECURITY INTERESTS IN COLLATERAL
	  	 	5	  
			
	         Section 2.01
	  	Security Interest	  	 	5	  
			
	         Section 2.02
	  	Representations and Warranties	  	 	6	  
			
	         Section 2.03
	  	Covenants	  	 	7	  
			
	         Section 2.04
	  	Intercreditor Relations	  	 	9	  
		
	 ARTICLE III    REMEDIES
	  	 	9	  
			
	         Section 3.01
	  	Remedies Upon Default	  	 	9	  
			
	         Section 3.02
	  	Application of Proceeds	  	 	10	  
		
	 ARTICLE IV    INDEMNITY, SUBROGATION AND SUBORDINATION
	  	 	11	  
			
	         Section 4.01
	  	Indemnity	  	 	11	  
			
	         Section 4.02
	  	Contribution and Subrogation	  	 	11	  
			
	         Section 4.03
	  	Subordination	  	 	11	  
		
	 ARTICLE V     MISCELLANEOUS
	  	 	12	  
			
	         Section 5.01
	  	Other Second-Lien Obligations	  	 	12	  
			
	         Section 5.02
	  	Notices	  	 	12	  
			
	         Section 5.03
	  	Security Interest Absolute	  	 	12	  
			
	         Section 5.04
	  	Limitation By Law	  	 	12	  
			
	         Section 5.05
	  	Binding Effect; Several Agreement	  	 	12	  
			
	         Section 5.06
	  	Successors and Assigns	  	 	13	  
			
	         Section 5.07
	  	Collateral Agent’s Fees and Expenses; Indemnification; Directing the Collateral Agent	  	 	13	  
			
	         Section 5.08
	  	Collateral Agent Appointed Attorney-in-Fact	  	 	14	  
			
	         Section 5.09
	  	GOVERNING LAW	  	 	14	  
			
	         Section 5.10
	  	Waivers; Amendment	  	 	14	  
			
	         Section 5.11
	  	WAIVER OF JURY TRIAL	  	 	15	  
			
	         Section 5.12
	  	Severability	  	 	15	  
			
	         Section 5.13
	  	Counterparts	  	 	16	  
			
	         Section 5.14
	  	Headings	  	 	16	  
			
	         Section 5.15
	  	Jurisdiction	  	 	16	  
			
	         Section 5.16
	  	Termination or Release	  	 	16	  

  
 -i-

 TABLE OF CONTENTS 

(continued) 
  

							
	  	 	 	  	Page	 
		
	             Section 5.17
                    Right of Set-off
	  	 	17	  
			
	Schedules	 		  			
			
	Schedule I	 	Pledgor’s Information	  			
			
	Schedule II	 	Perfection Requirements/Filing Jurisdictions	  			
		
	Exhibits	  			
			
	Exhibit I	 	Form of Additional Secured Party Consent	  			

  
 -ii-

 SECOND LIEN COLLATERAL AGREEMENT dated and effective as of May 19, 2011 (this
“Agreement”), among MARINER, LLC, a Marshall Islands limited liability company (“Mariner”), CELTIC PACIFIC (UK) TWO LIMITED, a company incorporated and existing under the laws of the Bahamas
(“CP2”), and SUPPLYSTILL LIMITED, an English private limited company (“Supplystill” and together with Mariner and CP2, the “Pledgors”) and Wilmington Trust FSB, as collateral agent (in such
capacity, the “Collateral Agent”) for the Secured Parties (as defined below). 
 WHEREAS, reference is made to
the Indenture dated as of the date hereof (as amended, restated, supplemented, waived or otherwise modified from time to time, the “Indenture”), relating to the 9.125% Senior Secured Second Lien Notes due 2019 (including any
additional notes issued pursuant to the Indenture, the “Notes”) issued by Seven Seas Cruises S. DE R.L. a Panamanian sociedad de responsibilidad limitada (previously known as Classic Cruises Holdings S. DE R.L., the
“Issuer”), among Issuer, the Pledgors as guarantors, and Wilmington Trust FSB, as trustee (in such capacity, the “Trustee”) and collateral agent. 

WHEREAS, pursuant to the Credit Agreement dated as of January 31, 2008 (as amended, restated, supplemented, waived, replaced,
refinanced or otherwise modified from time to time, the “Credit Agreement”), among Prestige Cruise Holdings, Inc., the Issuer (as successor in interest to Classic Cruises Holdings S. DE R.L.), Mariner (as assignee of Radisson Seven
Seas (France) SNC, a French société en nom collectif “Radisson France”), CP2 and Supplystill, HSBC Bank plc, as administrative agent and collateral agent for the lenders (the “First Lien
Agent”), and the other parties named therein, the Pledgors have granted to the First Lien Agent a first-priority lien and security interest in the Collateral (as defined below); 

WHEREAS, the Collateral Agent and the First Lien Agent have entered into an Intercreditor Agreement as of the date hereof (as amended,
restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), pursuant to which the lien upon and security interest in the Collateral granted by this Agreement are and shall be subordinated in all
respects to the lien upon and security interest in the Collateral granted pursuant to, and subject to the terms and conditions of, the First Lien Collateral Documents (as defined below); 

WHEREAS, from time to time after the date hereof, the Issuer may, subject to the terms and conditions of the Indenture and the Security
Documents, incur Other Second-Lien Obligations, that the Issuer desires to secure by the Collateral on a pari passu basis with the Notes; 
 WHEREAS, each Pledgor is executing and delivering this Agreement pursuant to the terms of the Indenture to induce the Trustee and the Collateral Agent to enter into the Indenture and to induce the Holders
of the Notes to purchase the Notes; 
 WHEREAS, the Pledgors, which are subsidiaries of the Issuer, will derive substantial
benefits from the extension of credit to the Issuer pursuant to the Indenture and are willing to execute and deliver this Agreement in order to induce the Trustee and the Collateral Agent to enter into the Indenture and to induce the Holders of the
Notes to purchase the Notes; and 
 WHEREAS, each Pledgor has duly authorized the execution, delivery and performance of this
Agreement. 
 NOW, THEREFORE, for and in consideration of the premises, and of the mutual covenants herein contained, and in
order to induce the Trustee and the Collateral Agent to enter into the Indenture, and to induce the Holders of the Notes to purchase the Notes, each Pledgor and the Collateral Agent, on 

 
behalf of itself and each Secured Party (and each of their respective successors or permitted assigns), hereby agree as follows: 

ARTICLE I 

DEFINITIONS 

Section 1.01 Indenture. 
 (a) Capitalized terms used in this Agreement (including the preamble and recitals hereof) and not otherwise defined herein have the respective meanings assigned thereto in the Indenture.1 All capitalized terms defined in the New York UCC (as defined herein) and not defined in this Agreement have the
meanings specified therein. The term “instrument” shall have the meaning specified in Article 9 of the New York UCC. 
 Section 1.02 Terms Generally. As used in this Agreement and each other Indenture Document, unless otherwise specified herein or in such other Indenture Document: 

(a) The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may
require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The
word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) 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 Indenture Document), (ii) any reference herein to any person shall be construed to include such person’s successors and assigns, (iii) the words “herein,” “hereof” and
“hereunder,” and words of similar import when used in any Indenture Document, shall be construed to refer to such Indenture Document in its entirety and not to any particular provision thereof, (iv) all references in an Indenture
Document to Articles, Sections, Exhibits, Annexes, Supplements and Schedules shall be construed to refer to Articles and Sections of, and Exhibits, Annexes, Supplements and Schedules to, the Indenture Document in which such references appear,
(v) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or
regulation as amended, modified or supplemented from time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets
and properties, including cash, securities, accounts and contract rights. 
 (b) In the computation of periods of time from a
specified date to a later specified date, the word “from” means “from and including,” the words “to” and “until” each mean “to but excluding,” and the word “through” means “to and
including.” 
 Section 1.03 Other Defined Terms. As used in this Agreement, the following terms have the
meanings specified below: 
 “Additional Secured Debt Documents” means any document or instrument executed and
delivered to evidence or govern any Other Second-Lien Obligations. 
  

	1 	NOTE: To be cross-referenced and confirmed once Indenture/Description of Notes is finalized 

  
 2 

 “Additional Secured Party Consent” shall mean an agreement substantially in
the form of Exhibit I hereof. 
 “Assigned Contracts” means the Charter Agreements and the Management
Agreements. 
 “Authorized Representative” means the Person appointed to act as trustee, agent or
representative for the holders of Other Second-Lien Obligations pursuant to any Additional Secured Party Consent. 

“Charter Agreements” means the Mariner Time Charter, the Navigator Time Charter and the Voyager Time Charter.

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

“CP(UK)” means Celtic Pacific (UK) Limited. 
 “Default” or “Event of Default” shall mean a “default” or “event of default” (as the case may be) under the Indenture or (if applicable) under any
Additional Secured Debt Documents. 
 “First Lien Claims” has the meaning assigned to such term in the
Intercreditor Agreement. 
 “First Lien Collateral Agreement” has the meaning assigned to such term in the
Intercreditor Agreement. 
 “First Lien Collateral Documents” has the meaning assigned to such term in the
Intercreditor Agreement. 
 “First Lien Obligations” means the “Obligations” as defined in the Credit
Agreement. 
 “Holder” has the meaning assigned to the term “holder” in the Indenture. 

“Indenture” has the meaning assigned to such term in the preliminary statement of this Agreement. 

“Indenture Documents” means (a) the Indenture, the Notes, the Security Documents and this Agreement and
(b) any other related documents or instruments executed and delivered pursuant to the Indenture or any Security Document, in each case, as such agreements may be amended, restated, supplemented or otherwise modified from time to time.

 “Management Agreements” means the Mariner Management Agreement, the Navigator Management Agreement and the
Voyager Management Agreement. 
 “Mariner Management Agreement” means the Ship Management Agreement dated
December 15, 2005 between CP(UK), as Manager, and Mariner, as Owner, with respect to the SEVEN SEAS MARINER or any other management agreement entered into from time to time by Mariner with a technical manager of the SEVEN SEAS MARINER, as such
agreement may be amended, restated, supplemented, waived or otherwise modified from time to time. 
 “Mariner Time
Charter” means the Charter Agreement dated as of January 31, 2008 for the SEVEN SEAS MARINER between Mariner, as Owner, and the Issuer, as Charterer, or any other time charter entered into from time to time by Mariner with a charterer
of the SEVEN SEAS MARINER, as the same may be amended, restated, supplemented, waived or otherwise modified from time to time. 

  
 3 

 “Navigator Management Agreement” means the Ship Management Agreement dated
November 29, 2000 between CP(UK), as Manager, and CP2, as Owner, with respect to the SEVEN SEAS NAVIGATOR, or any other management agreement entered into from time to time by CP2 with a technical manager of the SEVEN SEAS NAVIGATOR, as such
agreements may be amended, restated, supplemented, waived or otherwise modified from time to time. 
 “Navigator Time
Charter” means the Charter Agreement dated as of January 31, 2008 for the SEVEN SEAS NAVIGATOR between CP2, as Owner, and the Issuer, as Charterer, or any other time charter entered into from time to time by CP2 with a charterer
of the SEVEN SEAS NAVIGATOR, as the same may be amended, restated, supplemented, waived or otherwise modified from time to time. 
 “New York UCC” means the UCC as from time to time in effect in the State of New York. 
 “Notes” has the meaning assigned to such term in the recitals of this Agreement. 
 “Obligations” means (1) the due and punctual payment by the Issuer and the Pledgors of (i) the unpaid principal of and interest (including interest accruing during the pendency
of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) owing to any Holder under the Indenture Documents and (to the extent applicable) any holder of Other Second-Lien
Obligations under any Additional Secured Debt Documents, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of the Issuer and the Pledgors to
any Holder under the Indenture Documents and (to the extent applicable) any holder of Other Second-Lien Obligations under the Additional Secured Debt Documents, including obligations to pay fees, expense reimbursement obligations and indemnification
obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or
allowable in such proceeding) and (2) the due and punctual performance of all other obligations of the Issuer and the Pledgors under or pursuant to this Agreement, the other Indenture Documents and (to the extent applicable) the Additional
Secured Debt Documents. 
 “Other Second-Lien Obligations” has the meaning assigned to such term in the
Indenture. 
 “Permitted Liens” has the meaning assigned to such term in the Indenture. 

“Secured Parties” means (a) the Collateral Agent, (b) each Holder, (c) the beneficiaries of each
indemnification obligation undertaken by the Issuer or any Pledgor under any Indenture Document or Additional Secured Debt Document, (d) the Trustee, (e) each holder of Other Second-Lien Obligations and each Authorized Representative;
provided that such holders and their Authorized Representative comply with Section 5.01 hereof and such Authorized Representative executes an Additional Secured Party Consent, and (f) the successors and permitted assigns of
each of the foregoing. 
 “Security Documents” means this Agreement, any agreement pursuant to which assets are
added to the Collateral or otherwise pledged or mortgaged to secure the Obligations and any other instruments or documents entered into and delivered in connection with any of the foregoing, as such agreements, instruments or documents may from time
to time be amended, restated, supplemented or otherwise modified from time to time. 
 “Security Interest”
shall have the meaning assigned to such term in Section 2.01. 

  
 4 

 “UCC” means the Uniform Commercial Code as in effect in any jurisdiction.
References to particular Sections of Article 9 of the UCC shall be, unless otherwise indicated, references to Revised Article 9 of the UCC adopted and effective in certain jurisdictions on or after July 1, 2001. 

“Voyager Management Agreement” means the Ship Management Agreement dated October 25, 2001 between CP(UK), as
Manager, and Supplystill, as Owner, with respect to the SEVEN SEAS VOYAGER, or any management agreement entered into by Supplystill with a technical manager of the SEVEN SEAS VOYAGER, as such agreement may be amended, restated, supplemented, waived
or otherwise modified from time to time. 
 “Voyager Time Charter” means the Charter Agreement dated as of
January 31, 2008 for the SEVEN SEAS VOYAGER between Supplystill, as Owner, and the Issuer, as Charterer, or any other time charter entered into from time to time by Supplystill with a charterer of the SEVEN SEAS VOYAGER, as the same may be
amended, restated, supplemented, waived or otherwise modified from time to time. 
 ARTICLE II 

SECURITY INTERESTS IN COLLATERAL 
 Section 2.01 Security Interest. 
 (a) As security for the payment or
performance when due (whether at the stated maturity, by acceleration or otherwise), as the case may be, in full of the Obligations, each Pledgor hereby assigns and pledges to the Collateral Agent, its successors and permitted assigns, for the
ratable benefit of the Secured Parties, and hereby grants to the Collateral Agent, its successors and permitted assigns, for the ratable benefit of the Secured Parties, a security interest in, charge over, and assignment of (the “Security
Interest”) all of its right, title and interest in and to the following (whether now owned or at any time hereafter acquired by such Pledgor and whether now existing or hereafter coming into existence or in which such Pledgor now has or at
any time in the future may acquire any right, title or interest) (collectively, the “Collateral”): 
 (i) the Assigned Contracts; and 
 (ii) to the extent not otherwise
included, all proceeds and products of any and all of the foregoing and all collateral security and guarantees given by any person with respect to any of the foregoing. 
 (b) Each Pledgor shall give written notice (in such form as the Collateral Agent shall reasonably require) of the assignment herein contained and all remedies hereunder to, and obtain a written consent
and acknowledgement from, each of the Issuer and CP(UK), as specified in Schedule II hereto. Each Pledgor shall cause to be filed, registered or recorded, and hereby irrevocably authorizes the Collateral Agent, at the Pledgor’s
expense, at any time and from time to time to file, register or record (i) in any relevant jurisdiction in which the UCC has been adopted any initial financing statements with respect to the Collateral and amendments thereto in such form and
containing such information as the Collateral Agent deems appropriate including (A) describing the Collateral and the grant of the Security Interest achieved hereby and (B) information required by Article 9 of the UCC of each
applicable jurisdiction for the filing of any financing statement or amendment, including whether such Pledgor is an organization, the type of organization and any organizational identification number issued to such Pledgor, and (ii) this
Agreement and any amendments hereto and/or any other notices, filing or recording documents or instruments with respect to the Collateral without the signature of any Pledgor, in such form and with the appropriate authorities in the jurisdictions
specified in Schedule II hereto or in such other 

  
 5 

 
jurisdictions as the Collateral Agent deems necessary or advisable to perfect or maintain the perfection of, or to protect, the Security Interest. Each Pledgor agrees to provide such information
to the Collateral Agent promptly upon request. Each Pledgor ratifies its authorization for the Collateral Agent to have filed in any UCC jurisdiction any initial financing statements or amendments or continuations thereto and in each jurisdiction
listed on Schedule II (or in such other jurisdictions as the Collateral Agent deems necessary or appropriate) of this Agreement and/or any other notice, filing or recording documents or instruments with respect to the Collateral, in each
case, if filed prior to the date hereof. Notwithstanding the foregoing authorizations, in no event shall the Trustee or the Collateral Agent be obligated to prepare or file any financing statements whatsoever, or to maintain the perfection of the
security interest granted hereunder and each Pledgor agrees to prepare, record and file, at its own expense, financing statements (and amendments or continuation statements when applicable) with respect to the Collateral now existing or hereafter
created meeting the requirements of applicable state law in such manner and in such jurisdictions as are necessary to perfect and maintain perfected the Collateral, and to deliver a file stamped copy of each such financing statement or other
evidence of filing to the Collateral Agent. 
 (c) The Security Interest is granted as security only and shall not subject the
Collateral Agent or any other Secured Party to, or in any way alter or modify, any obligation or liability of any Pledgor with respect to or arising out of the Collateral. 
 Section 2.02 Representations and Warranties. The Pledgors jointly and severally represent and warrant to the Collateral Agent and the Secured Parties that on the Issue Date: 

(a)(i) Each Pledgor is an organization of the type, and is organized in the jurisdiction, set forth on Schedule I;
(ii) Schedule I sets forth such Pledgor’s organizational identification number or states that such Pledgor has none; (iii) each Pledgor’s exact legal name is that set forth on Schedule I and on the
signature page hereof; (iv) Schedule I sets forth each Pledgor’s place of business or (if it has more than one place of business) its chief executive office, as well as its mailing address if different; (v) each
Pledgor’s (except for Supplystill) place of business or (if it has more than one place of business) its chief executive office (except for Mariner) is not located in a jurisdiction that has adopted the UCC or whose laws generally require that
information concerning the existence of nonpossessory security interests be made generally available in a filing, recording or registration system as a condition or result of the security interest obtaining priority over the rights of a lien
creditor with respect to the Collateral. 
 (b) Each Pledgor has good and valid rights in and title to the Collateral with
respect to which it has purported to grant a Security Interest hereunder and has full power and authority to grant to the Collateral Agent the Security Interest in such Collateral pursuant hereto and to execute, deliver and perform its obligations
in accordance with the terms of this Agreement, without the consent or approval of any other person other than any consent or approval that has been obtained and is in full force and effect or has otherwise been disclosed herein or in the Indenture.

 (c) The information set forth in the schedules attached hereto is correct and complete, in all material respects, as of the
Issue Date. Each of the notices, consents and acknowledgements, filings, recordings and registrations set forth in Schedule II constitute all the notices, consents, acknowledgements, filings, recordings and registrations that are
necessary to give notice of and protect the validity of and to establish a legal, valid and perfected security interest in favor of the Collateral Agent (for the ratable benefit of the Secured Parties) in respect of all Collateral, and no further
notice, consent or acknowledgement or subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary in any such jurisdiction, except as provided under applicable law with respect to the filing of continuation
statements or amendments. 

  
 6 

 (d) The Security Interest constitutes (i) a legal and valid security interest in the
Collateral securing the payment and performance of the Obligations, and (ii) subject to the notices, consents, acknowledgements, filings, recordings and registrations described in Section 2.02(c), a perfected security interest in, a valid
and enforceable charge over and assignment of, the Collateral. The Security Interest is and shall be prior to any other Lien on or in respect of the Collateral, other than Permitted Liens. 

(e) The Collateral is owned by the Pledgors free and clear of any Lien, other than the Security Interest and Permitted Liens. None of the
Pledgors has filed or consented to the filing of (i) any financing statement or analogous document under the UCC or any other applicable laws covering any Collateral or (ii) any assignment in which any Pledgor assigns any Collateral or any
security agreement or similar instrument covering any Collateral with any foreign governmental, municipal or other office, which financing statement or analogous document, assignment, security agreement or similar instrument is still in effect,
except, in each case, for Permitted Liens or as otherwise permitted hereunder. 
 (f) The granting to the Collateral Agent of
the Security Interest hereunder, the execution by each Pledgor of this Agreement and the performance by such Pledgor of its obligations hereunder do not and will not (i) result in the existence or imposition of any Lien nor obligate any Pledgor
to create any Lien (other than the Security Interest) in favor of any person or entity over all or any of its assets, (ii) conflict with any agreement, mortgage, bond or other instrument to which a Pledgor is a party or which is binding upon a
Pledgor or any of its assets, (iii) conflict with any Pledgor’s constitutional documents or (iv) conflict with any law, regulation or judicial order binding on any Pledgor or the Collateral. 

Section 2.03 Covenants. 
 (a) Except as not otherwise prohibited under the Indenture Document and (to the extent applicable) the Additional Secured Debt Documents, without the Collateral Agent’s prior written consent, the
Pledgors will not sell, transfer, assign, pledge or grant a security interest in the Collateral to any other person (except for Permitted Liens). Any such sale, transfer, assignment, mortgage, pledge or encumbrance without the Collateral
Agent’s written consent shall be null and void and of no force and effect. 
 (b) Without the Collateral Agent’s prior
written consent, the Pledgors will not amend (directly or indirectly), modify, supplement, waive compliance with, seek or grant a waiver under, assent to non-compliance with or terminate any Assigned Contract, unless such amendment, modification,
supplement, waiver or assent could not reasonably be expected to be materially adverse to the interests of the Secured Parties. 

(c) Each Pledgor shall, except as would not reasonably be expected to be materially adverse to the interests of the Secured Parties,
(i) perform and observe in all material respects all of its agreements and covenants in the Assigned Contracts, (ii) enforce all material provisions of the Assigned Contracts in accordance with their respective terms and (iii) after
the occurrence of an Event of Default and during the continuance thereof, no later than three (3) Business Days after any request therefor by the Collateral Agent, exercise such rights, powers and remedies thereunder as the Collateral Agent may
request. 
 (d) Each Pledgor specifically acknowledges and agrees that the Collateral Agent does not assume, and shall have no
responsibility for, the payment of any sums due or to become due under any Assigned Contract by any Pledgor or the performance of any obligations to be performed under or with respect to any Assigned Contract by any Pledgor. 

  
 7 

 (e) Each Pledgor agrees to provide at least 10 days’ prior written notice to the
Collateral Agent of any change (i) in its corporate or organization name, (ii) in its identity or type of organization or corporate structure, (iii) in its organizational identification number or (iv) in its “location”
(determined as provided in UCC Section 9-307). Each Pledgor agrees promptly to provide the Collateral Agent with certified organizational documents reflecting any of the changes described in the immediately preceding sentence. Each Pledgor
agrees not to effect or permit any change referred to in the first sentence of this paragraph (e) unless all filings have been made, or will have been made within any applicable statutory period, under the UCC or the laws of any other
jurisdiction or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected second priority security interest in, charge over and assignment of, the Collateral,
for the ratable benefit of the Secured Parties. 
 (f) Each Pledgor shall, at its own expense, use commercially reasonable
efforts to defend title to the Collateral against all persons and to defend the Security Interest of the Collateral Agent, for the ratable benefit of the Secured Parties, in the Collateral and the priority thereof against any Lien that is not a
Permitted Lien. 
 (g) Each Pledgor agrees, at its own expense, to execute, acknowledge, deliver and cause to be duly filed all
such further instruments and documents and take all such actions as necessary or as the Collateral Agent may from time to time reasonably request to better assure, preserve, protect and perfect the Security Interest and the rights and remedies
created hereby, including the payment of any fees and taxes required in connection with the execution and delivery of this Agreement and the granting of the Security Interest and the filing of any financing statements or other documents in
connection herewith or therewith. 
 (h) After the occurrence of an Event of Default and during the continuance thereof, the
Collateral Agent shall have the right to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral. The Collateral Agent shall have the right to share
any information it gains from such inspection or verification with any Secured Party. 
 (i) At its option, the Collateral Agent
may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral and not a Permitted Lien, and each Pledgor jointly and severally agrees to reimburse the
Collateral Agent on demand for any reasonable payment made or any reasonable expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this Section 2.03(i) shall be
interpreted as excusing any Pledgor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Pledgor with respect to taxes, assessments, charges,
fees, Liens, security interests or other encumbrances as set forth herein or in the other Indenture Documents. 
 (j) Each
Pledgor (rather than the Collateral Agent or any Secured Party) shall remain liable for the observance and performance of all the conditions and obligations to be observed and performed by it under each Assigned Contract and each Pledgor jointly and
severally agrees to indemnify and hold harmless the Collateral Agent and the Secured Parties from and against any and all liability for such performance. 
 (k) None of the Pledgors will, without the Collateral Agent’s prior written consent (which consent shall not be unreasonably withheld), grant any extension of the time of payment under the Assigned
Contracts, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount 

  
 8 

 
whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with prudent business practices or as
not otherwise prohibited under the Indenture. 
 Section 2.04 Intercreditor Relations. Notwithstanding anything
herein to the contrary, the liens and security interests granted to the Collateral Agent pursuant to this Agreement and the exercise of any right or remedy by the Collateral Agent hereunder are subject to the limitations and provisions of the
Intercreditor Agreement. In the event of any conflict between the terms of the Intercreditor Agreement and the terms of this Agreement, the terms of the Intercreditor Agreement shall govern. 

ARTICLE III 

REMEDIES 

Section 3.01 Remedies Upon Default. 
 (a) Subject to the Intercreditor Agreement and Section 2.04, if an Event of Default shall have occurred and be continuing, in addition to all other rights and remedies of the Collateral Agent
and the Secured Parties pursuant to any of the Indenture Documents, the Additional Secured Debt Documents (to the extent applicable) or any other agreement of the Pledgors in favor of or assigned to and held by the Collateral Agent or the Secured
Parties or pursuant to applicable law or otherwise, the Collateral Agent (for the ratable benefit of the Secured Parties), except as otherwise provided under applicable law, shall have all of the rights and remedies with respect to the Collateral of
a secured party under the New York UCC (whether or not the New York UCC is in effect in the jurisdiction where the rights and remedies are asserted) and such additional rights and remedies to which a secured party is entitled under the laws in
effect in any jurisdiction where any rights or remedies hereunder may be asserted; and without limiting the foregoing the Collateral Agent: 
 (i) shall have all rights and benefits under each Assigned Contract, including, without limitation, any and all rights to terminate the Assigned Contracts and to indemnification, without modifying or
discharging any of the Obligations, except to the extent payment in respect thereof is received. Upon the occurrence and continuance of an Event of Default, the Pledgors agree to execute any and all documents requested by the Collateral Agent in its
sole discretion to enable the Collateral Agent to exercise all of the rights of the Pledgors under each Assigned Contract. The specified remedies to which the Collateral Agent may resort under the terms of this Agreement are cumulative and are not
intended to be exclusive of any other remedies or means of redress to which the Collateral Agent or the Secured Parties may be lawfully entitled in case of any breach or threatened breach by any Pledgor of any provision hereof or of any of the
Obligations. Nothing contained in this Agreement and no act or action taken or done by the Collateral Agent pursuant to the powers and rights granted to it hereunder or under any instrument collateral hereto shall be deemed to be a waiver by the
Collateral Agent or any Secured Party of any of its respective rights and remedies against the Pledgors in connection with, or in respect of, any of the Obligations. The right of the Collateral Agent to collect and enforce collection of the
Obligations and to enforce any security and collateral held by it may be exercised by the Collateral Agent prior to, simultaneously with, or subsequent to any action taken by the Collateral Agent hereunder; 

(ii) may, in its discretion, in its name or in a Pledgor’s name, notify each obligor under each Assigned Contract to
make payment to the Collateral Agent of all amounts due or to become due under such Assigned Contract; and 

  
 9 

 (iii) may, in its discretion, demand, sue for, collect or receive any money
or property at any time payable or receivable on account of or in exchange for each Assigned Contract or, with respect to payments which have become due and payable under such Assigned Contract, make any compromise or settlement deemed desirable by
the Collateral Agent. 
 (b) The obligations of each Pledgor pursuant to this Agreement shall continue to be effective or
automatically be reinstated, as the case may be, if at any time payment of any of the Obligations is rescinded or otherwise must be restored or returned by the Collateral Agent or any Secured Party upon the insolvency, bankruptcy, dissolution,
liquidation or reorganization of a Pledgor or any other obligor or otherwise, all as though such payment had not been made. 

Section 3.02 Application of Proceeds. Subject to the Intercreditor Agreement and Section 2.04, the Collateral
Agent shall promptly apply the proceeds, moneys or balances of any collection or sale of Collateral as follows: 

FIRST, to the payment of all costs and expenses incurred by the Collateral Agent in connection with such collection or
sale or otherwise in connection with this Agreement, any other Indenture Document or any of the Obligations, including without limitation all court costs and the fees and expenses of its agents and legal counsel, the repayment of all advances made
by the Collateral Agent hereunder or under any other Indenture Document on behalf of any Pledgor, any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Indenture Document, and all
other fees, indemnities and other amounts owing or reimbursable to the Collateral Agent under any Indenture Document in its capacity as such; 
 SECOND, to the payment in full of all other Obligations (the amounts so applied to be distributed among the Secured Parties pro rata in accordance with the respective amounts of the Obligations
owed to them on the date of any such distribution); 
 THIRD, to the Pledgors, their successors or assigns, or as
a court of competent jurisdiction may otherwise direct. 
 Subject to the Intercreditor Agreement and Section 2.04, the
Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement and in making the determination and allocations required by this Section 3.02, the
Collateral Agent may conclusively rely upon information supplied by the applicable Authorized Representative as to the amounts of unpaid principal and interest and other amounts outstanding with respect to Other Second-Lien Obligations and the
Collateral Agent shall have no liability to any of the Secured Parties for actions taken in reliance on such information. If, despite the provisions of this Agreement, any Secured Party shall receive any payment or other recovery in excess of its
portion of payments on account of the Obligations to which it is then entitled in accordance with this Agreement, such Secured Party shall hold such payment or other recovery in trust for the benefit of all Secured Parties hereunder for distribution
in accordance with this Section 3.02. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the purchase money by the Collateral Agent or of
the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the
Collateral Agent or such officer or be answerable in any way for the misapplication thereof. 

  
 10 

 ARTICLE IV 
 INDEMNITY, SUBROGATION AND SUBORDINATION 
 Section 4.01 Indemnity. In
addition to all such rights of indemnity and subrogation as each Pledgor may have under applicable law (but subject to Section 4.03 hereof), the Pledgors jointly and severally agree that (a) in the event a payment shall be made by any
Pledgor under this Agreement or any other Indenture Document in respect of any Obligation of any other person, each other Pledgor shall indemnify the paying Pledgor for the full amount of such payment and the paying Pledgor shall be subrogated to
the rights of the person to whom such payment shall have been made to the extent of such payment and (b) in the event any assets of any Pledgor shall be sold pursuant to this Agreement or any other Indenture Document to satisfy in whole or in
part an Obligation of any other person, each other Pledgor shall indemnify the first Pledgor in an amount equal to the greater of the book value or the fair market value of the assets so sold. 

Section 4.02 Contribution and Subrogation. Each Pledgor (a “Contributing Pledgor”) agrees (subject to
Section 4.03 hereof) that, in the event a payment shall be made by any other Pledgor hereunder or under any other Indenture Document in respect of any Obligation or assets of any other Pledgor shall be sold pursuant to any Indenture Document to
satisfy any Obligation owed to any Secured Party and such other Pledgor (the “Claiming Pledgor”) shall not have been fully indemnified by the other Pledgors as provided in Section 4.01 hereof, the Contributing Pledgor shall
indemnify the Claiming Pledgor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as applicable, in each case multiplied by a fraction of which the numerator shall be the net
worth of such Contributing Pledgor on the date hereof and the denominator shall be the aggregate net worth of all the Pledgors on the date hereof. Any Contributing Pledgor making any payment to a Claiming Pledgor pursuant to this Section 4.02
shall be subrogated to the rights of such Claiming Pledgor under Section 4.01 hereof to the extent of such payment. 

Section 4.03 Subordination. 
 (a) Notwithstanding any provision of this Agreement to the contrary, all rights of the Pledgors under Sections 4.01 and 4.02 hereof and all other rights of indemnity, contribution or subrogation of
the Pledgors under applicable law or otherwise shall be fully subordinated to the payment in full in cash or other immediately available funds of the Obligations (other than contingent indemnity or expense reimbursement obligations in respect of
which no claim has been made). No failure on the part of any Pledgor to make the payments required by Sections 4.01 and 4.02 hereof (or any other payments required under applicable law or otherwise) shall in any respect limit the obligations
and liabilities of the Pledgors with respect to the Obligations, and the Pledgors shall remain liable for the full amount of the Obligations. 
 (b) Each Pledgor hereby agrees that all Indebtedness and other monetary obligations owed by it to each other Pledgor shall be fully subordinated to the payment in full in cash or other immediately
available funds of the Obligations (other than contingent indemnity or expense reimbursement obligations in respect of which no claim has been made) to the extent subordination is required pursuant to the provisions of the Indenture. 

  
 11 

 ARTICLE V 
 MISCELLANEOUS 
 Section 5.01 Other Second-Lien Obligations. On or
after the date hereof and so long as not prohibited by the Indenture, the Issuer may from time to time designate Other Second-Lien Obligations not prohibited by the Indenture to be secured on a pari passu basis with the Notes by a Lien on the
Collateral as Obligations hereunder by delivering to the Collateral Agent (a) a certificate signed by an Officer of the Issuer (i) identifying the obligations so designated and the aggregate principal amount or face amount thereof, stating
that such obligations are designated as Other Second-Lien Obligations and as Obligations for purposes hereof, (ii) representing that such designation of such obligations as Other Second-Lien Obligations and as Obligations complies with the
terms of each of the Indenture Documents and the Additional Secured Debt Documents and (iii) specifying the name and address of the Authorized Representative for the holders of such Other Second-Lien Obligations; and, (b) a fully executed
Additional Secured Party Consent. The Collateral Agent agrees that upon the satisfaction of all conditions set forth in the preceding sentence, the Collateral Agent shall act as agent under and subject to the terms of this Agreement for the benefit
of all Secured Parties, including without limitation, any secured parties that hold any such Other Second-Lien Obligations, and the Authorized Representative for the holders of such Other Second-Lien Obligations agrees to the appointment, and
acceptance of the appointment, of the Collateral Agent as agent for the holders of such Other Second-Lien Obligations as set forth in each Additional Secured Party Consent and agrees, on behalf of itself and each Secured Party it represents, to be
bound by this Agreement. 
 Section 5.02 Notices. All communications and notices hereunder shall (except as
otherwise permitted herein) be in writing and given as provided in Section 13.02 of the Indenture; provided that any notices to an Authorized Representative shall be sent to its address set forth in the applicable Additional Secured Party
Consent. 
 Section 5.03 Security Interest Absolute. All rights of the Collateral Agent hereunder, the Security
Interest in the Collateral and all obligations of each Pledgor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Indenture, any other Indenture Document, any agreement with respect
to any of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver
of or any consent to any departure from the Indenture, any other Indenture Document or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other collateral, or any release or amendment or waiver of or
consent under or departure from any guarantee, securing or guaranteeing all or any of the Obligations or (d) any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Pledgor in respect of the
Obligations or this Agreement (other than a defense of payment or performance). 
 Section 5.04 Limitation By Law.
All rights, remedies and powers provided in this Agreement may be exercised only to the extent that the exercise thereof does not violate any applicable provision of law, and all the provisions of this Agreement are intended to be subject to all
applicable mandatory provisions of law that may be controlling and to be limited to the extent necessary so that they shall not render this Agreement invalid, unenforceable, in whole or in part, or not entitled to be recorded, registered or filed
under the provisions of any applicable law. 
 Section 5.05 Binding Effect; Several Agreement. This Agreement shall
become effective as to any party to this Agreement when a counterpart hereof executed on behalf of such party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the

  
 12 

 
Collateral Agent, and thereafter shall be binding upon such party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such party, the
Collateral Agent and the other Secured Parties and their respective permitted successors and assigns, except that no Pledgor shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral
(and any such assignment or transfer shall be void) except as expressly contemplated by this Agreement or the Indenture. This Agreement shall be construed as a separate agreement with respect to each party and may be amended, modified, supplemented,
waived or released with respect to any party without the approval of any other party and without affecting the obligations of any other party hereunder. 
 Section 5.06 Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the permitted successors and assigns of such
party; and all covenants, promises and agreements by or on behalf of any Pledgor or the Collateral Agent that are contained in this Agreement shall bind and inure to the benefit of their respective permitted successors and assigns; provided
that no Pledgor may assign, transfer or delegate any of its rights or obligations under this Agreement without the prior written consent of the Collateral Agent. Written notice of resignation by the Collateral Agent, as trustee pursuant to the
Indenture shall also constitute notice of resignation as the Collateral Agent under this Agreement. Upon the acceptance of any appointment as the trustee under the Indenture by a successor trustee, that successor trustee, as Collateral Agent shall
thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent pursuant hereto. 
 Section 5.07 Collateral Agent’s Fees and Expenses; Indemnification; Directing the Collateral Agent. 
 (a) The parties hereto agree that the Collateral Agent shall be entitled to reimbursement of its expenses incurred hereunder as provided in Section 7.07 of the Indenture. 

(b) Without limitation of its indemnification obligations under the other Indenture Documents, each Pledgor jointly and severally agrees
to indemnify the Collateral Agent and the other indemnitees (as contemplated by Section 7.07 of the Indenture) against, and hold each indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including
reasonable counsel fees, charges and disbursements, incurred by or asserted against any indemnitee arising out of, in connection with, or as a result of, (i) the execution, delivery or performance of this Agreement or any other Indenture
Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto and thereto of their respective obligations thereunder or the consummation of the Transactions and other transactions contemplated hereby,
(ii) the use of proceeds of the Notes or (iii) any claim, litigation, investigation or proceeding relating to any of the foregoing, or to the Collateral, whether or not any indemnitee is a party thereto; provided that such indemnity
shall not, as to any indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses 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. 
 (c) Any such amounts payable as provided hereunder shall be additional
Obligations secured hereby and by the other Security Documents. The provisions of this Section 5.07 shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Indenture Document, the
consummation of the transactions contemplated hereby, the repayment of any of the Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Indenture Document, or any investigation made by or on behalf
of the Collateral Agent or any other Secured Party. All amounts due under this Section 5.07 shall be payable on written demand therefor. 

  
 13 

 (d) To the extent any Other Second-Lien Obligations are outstanding, the holders of a
majority in interest of the outstanding Obligations shall direct the Collateral Agent in exercising any right, power, discretionary duty or other remedy available to the Collateral Agent under this Agreement or any Security Document and the other
Secured Parties shall not have a right to take any actions with respect to the Collateral. If the Collateral Agent shall not have received appropriate instruction within 10 days of a request therefor from such holders (or such shorter period as
reasonably may be specified in such notice or as may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking such action as it shall deem to be in the best interests of the Secured Parties and the
Collateral Agent shall have no liability to any Person for such action or inaction. 
 Section 5.08 Collateral Agent
Appointed Attorney-in-Fact. Each Pledgor hereby appoints the Collateral Agent the attorney-in-fact of such Pledgor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the
Collateral Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest. Subject to the Intercreditor Agreement and Section 2.04, the Collateral Agent shall have
the right, upon the occurrence and during the continuance of an Event of Default, with full power of substitution either in the Collateral Agent’s name or in the name of such Pledgor, (a) to receive, endorse, assign or deliver any and all
notes, acceptances, checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof, (b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any of the
Collateral, (c) to ask for, demand, sue for, collect, receive and give acquittance for any and all moneys due or to become due under and by virtue of any Collateral, (d) to sign the name of any Pledgor on any invoice or bill of lading
relating to any of the Collateral, (e) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise realize on all or any of the Collateral or to enforce
any rights in respect of the Collateral, (f) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral, and (g) to use, sell, assign, transfer, pledge, make any agreement
with respect to or otherwise deal with all or any of the Collateral, and to do all other acts and things necessary to carry out the purposes of this Agreement, as fully and completely as though the Collateral Agent were the absolute owner of the
Collateral for all purposes; provided that nothing herein contained shall be construed as requiring or obligating the Collateral Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by
the Collateral Agent, or to present or file any claim or notice, or to take any action with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Collateral Agent and
the other Secured Parties shall be accountable only for amounts actually received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any
Pledgor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. 

Section 5.09 GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

Section 5.10 Waivers; Amendment. 
 (a) No failure or delay by the Collateral Agent or any Secured Party in exercising any right, power or remedy hereunder or under any other Indenture Document or (to the extent applicable) any Additional
Secured Debt Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy, or any abandonment or discontinuance of steps to enforce such a right, power or remedy, preclude any other or
further exercise thereof or the exercise of any other 

  
 14 

 
right, power or remedy. The rights, powers and remedies of the Collateral Agent and the Secured Parties hereunder and under the other Indenture Documents and (to the extent applicable) the
Additional Secured Debt Documents are cumulative and are not exclusive of any rights, powers or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Pledgor therefrom shall in any
event be effective unless the same shall be permitted by paragraph (b) of this Section 5.10, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on any
Pledgor in any case shall entitle any Pledgor to any other or further notice or demand in similar or other circumstances. 
 (b)
Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Collateral Agent and the Pledgor or Pledgors with respect to which such waiver, amendment
or modification is to apply, subject to any consent required in accordance with the Indenture and each Additional Secured Debt Document (to the extent applicable). 
 (c) For the purpose of Section 5.10(b) above, the Collateral Agent shall be entitled to rely upon (i) written confirmation from the agent managing the solicitation of consents or a certificate
signed by an Officer of the Issuer, as to the receipt of valid consents from the Secured Parties as required pursuant to the Indenture or the Additional Secured Debt Documents, and (ii) any document believed by it to be genuine and to have been
signed or presented by the proper person and the Collateral Agent need not investigate any fact or matter stated in the document. At any time that the Issuer desires that this Agreement be amended as provided in Section 5.10(b) above, the
Issuer shall deliver to the Collateral Agent a certificate signed by an Officer of the Issuer stating that the amendment of this Agreement is permitted pursuant to Section 5.10(b) above. If requested by the Collateral Agent (although the
Collateral Agent shall have no obligation to make any such request), the Issuer shall furnish appropriate legal opinions (in form and substance, and from counsel, reasonably acceptable to the Collateral Agent) to the effect set forth in the
immediately preceding sentence. Such Officers’ certificate and legal opinion will contain the statements required by Section 9.06 of the Indenture. If requested by the Collateral Agent (although the Collateral Agent shall have no
obligation to make any such request), the Issuer shall furnish to the Collateral Agent copies of officers’ certificates and legal opinions delivered to the Trustee in connection with any amendment to the Indenture affecting the operation of
this Section 5.10. The Collateral Agent shall not be liable for any action it takes or omits to take in good faith in reliance on such certificates or opinions. 
 Section 5.11 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER INDENTURE DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.11. 
 Section 5.12 Severability. In the event any one or
more of the provisions contained in this Agreement or in any other Indenture Document should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein
shall not in any way be affected or impaired thereby. The parties shall endeavor in good-faith 

  
 15 

 
negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or
unenforceable provisions. 
 Section 5.13 Counterparts. This Agreement may be executed in two or more counterparts,
each of which shall constitute an original but all of which when taken together shall constitute but one contract, and shall become effective as provided in Section 5.05 hereof. Delivery of an executed counterpart to this Agreement by facsimile
transmission shall be as effective as delivery of a manually signed original. 
 Section 5.14 Headings. Article and
Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

Section 5.15 Jurisdiction. 
 (a) Each party to this Agreement hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any New York State court or federal court of the United
States of America sitting in New York County, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or any other Indenture Documents, or for recognition or enforcement of any judgment, and
each of the parties hereto hereby 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 or, to the extent permitted by 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 shall affect
any right that the Collateral Agent or any Secured Party may otherwise have to bring any action or proceeding relating to this Agreement or any other Indenture Document against any Pledgor, or its properties, in the courts of any jurisdiction.

 (b) Each party to this Agreement hereby irrevocably and unconditionally waives, to the fullest extent it may legally and
effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Indenture Document in any New York State court or federal court of
the United States of America sitting in New York County. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such
court. 
 Section 5.16 Termination or Release. 

(a) This Agreement, the Security Interest and all other security interests granted hereby and by the other Security Documents shall
automatically terminate and/or be released all without delivery of any instrument or performance of any act by any party when all the Obligations (other than contingent indemnity or expense reimbursement obligations in respect of which no claim has
been made) have been paid in full in cash or other immediately available funds. 
 (b) Upon the completion of any Permitted
Reflagging Transaction (as defined in the Indenture) in accordance with the Indenture (and, to the extent applicable, each Additional Secured Debt Document), the Collateral Agent will, at the written request of the Issuer, release the Security
Interest in the Collateral owned by the relevant Pledgor and will release such Pledgor from its obligations hereunder. 
 (c) In
connection with any termination or release pursuant to this Section 5.16, the Collateral Agent shall execute and deliver to any Pledgor, at such Pledgor’s expense, all documents that such

  
 16 

 
Pledgor shall reasonably request to evidence such termination or release (including, without limitation, UCC termination statements). In connection with any such terminations or release, the
Pledgors shall be permitted to take any action in connection therewith consistent with such termination or release including, without limitation, the filing of UCC termination statements. 

(d) A Pledgor shall automatically be released from its obligations hereunder and the Security Interests in the Collateral of such Pledgor
shall be automatically released upon the consummation of any transaction permitted by the Indenture (and, to the extent applicable, each Additional Secured Debt Document) as a result of which such Pledgor ceases to be a Subsidiary or otherwise
ceases to be a Pledgor, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to such Pledgor. 
 (e) Upon any sale or other transfer by any Pledgor of any Collateral that is permitted under the Indenture (and, to the extent applicable, each Additional Secured Debt Document) to any person that is not
a Pledgor (including in connection with an Event of Loss), or upon the effectiveness of any written consent to the release of the Security Interest granted hereby in any Collateral pursuant to the Indenture (and, to the extent applicable, each
Additional Secured Debt Document), the security interest in such Collateral shall be automatically released, all without delivery of any instrument or performance of any act by any party. 

(f) With respect to the Obligations securing the Notes, a Pledgor shall automatically be released from its obligations hereunder and/or
the security interests in any Collateral shall in each case be automatically released upon the occurrence of any of the circumstances set forth in Section 11.04 of the Indenture, all without delivery of any instrument or performance of any act
by any party, and all rights to the Collateral shall revert to any applicable Pledgor. With respect to the Obligations securing any Other Second-Lien Obligations, a Pledgor shall automatically be released from its obligations hereunder and/or the
security interests in any Collateral shall in each case be automatically released upon the occurrence of any of the circumstances set forth in the Additional Secured Debt Document governing such obligations, all without delivery of any instrument or
performance of any act by any party, and all rights to the Collateral shall revert to any applicable Pledgor. 
 (g) If any of
the Collateral shall become subject to the release provisions set forth in Section 5.1 of the Intercreditor Agreement, such Collateral shall be automatically released from the Security Interest in such Collateral to the extent provided therein.

 Section 5.17 Right of Set-off. If an Event of Default shall have occurred and be continuing, the Collateral Agent
is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set-off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time
owing by the Collateral Agent to or for the credit or the account of any Pledgor against any of and all the obligations of such Pledgor now or hereafter existing under this Agreement owed to the Collateral Agent on, irrespective of whether or not
the Collateral Agent shall have made any demand under this Agreement and although such obligations may be unmatured. The rights of the Collateral Agent under this Section 5.17 are in addition to other rights and remedies (including other rights
of set-off) that the Trustee may have. 

  
 17 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written. 
  

			
	MARINER, LLC
		
	By:	 	 /s/ Gema M. Piñon

		 	Name: Gema M. Piñon
		 	Title:   Manager

  

			
	CELTIC PACIFIC (UK) TWO LIMITED
		
	By:	 	 /s/ Graham P. Sadler

		 	Name: Graham P. Sadler
		 	Title:   Director

  

			
	SUPPLYSTILL LIMITED
		
	By:	 	 /s/ Graham P. Sadler

		 	Name: Graham P. Sadler
		 	Title:   Director

 SIGNATURE PAGE TO SECOND
LIEN COLLATERAL AGREEMENT 

 
			
	 WILMINGTON TRUST FSB

as Collateral Agent

		
	By:	 	/s/ Jane Schweiger
		 	Name: Jane Schweiger
		 	Title:   Vice President

  

SIGNATURE PAGE TO SECOND LIEN COLLATERAL
AGREEMENT 

 Schedule I to the 
 Collateral Agreement 
 Pledgor’s Information 

1. Name. The exact legal name of the Pledgor as that name appears on its Certificate of Incorporation is as follows:

 Celtic Pacific (UK) Two Limited 
 2. Other Identifying Factors. 
 (a) The following is the mailing address of
the Pledgor: 
 c/o Its Registered Agent and Office, M B & H Corporate Services Ltd., Mareva House, 4 George Street, Nassau,
Bahamas 
 (b) If different from its mailing address, the Pledgor’s place of business or, if more than one, its chief
executive office is located at the following address: 
  

					
	 Address
	  	 County
	  	 State

	 Beresford House, Town

Quay, Southampton,

Hampshire, UK SO142AQ
	  	Hampshire	  	England

 (c) The following is the type of organization of the Pledgor: 

International Business Company (“IBC”) incorporated under the International Business Companies Act, Statute laws of the
Commonwealth of The Bahamas 
 (d) The following is the jurisdiction of the Pledgor’s organization: 

The Commonwealth of The Bahamas 
 (e) The following is the Pledgor’s organizational identification number issued in the Pledgor’s jurisdiction: 
 Company Number: 115650 B on the Register of International Business Companies 

  
 Sch.I-1

 Pledgor’s Information 

1. Name. The exact legal name of the Pledgor as that name appears on its Certificate of Formation is as follows: 

Mariner, LLC 

2. Other Identifying Factors. 
 (a) The following is the mailing address of the Pledgor: 
 c/o
Prestige Cruise Holdings, 8300 NW 33rd Street, Suite 308
Miami, FL 33122 
 (b) If different from its mailing address, the Pledgor’s place of business or, if more than one, its
chief executive office is located at the following address: 
  

					
	 Address
	  	 County
	  	 State

	 c/o Prestige Cruise Holdings

8300 NW 33rd Street,
 Suite 308, Miami, FL 33122
	  	Miami-Dade	  	Florida

 (c) The following is the type of organization of the Pledgor: 

Limited liability company formed under the Limited Liability Company Act of 1996, as amended, of the Republic of the Marshall Islands.

 (d) The following is the jurisdiction of the Pledgor’s organization: 

The Republic of the Marshall Islands 
 (e) The following is the Pledgor’s organizational identification number issued in the Pledgor’s jurisdiction: 
 Company Number: 961822 
  

  
 Sch.I-2

 Pledgor’s Information 

1. Name. The exact legal name of the Pledgor as that name appears on its Certificate of Incorporation is as follows:

 Supplystill Limited 
 2. Other Identifying Factors. 
 (a) The following is the mailing address of
the Pledgor: 
 Suite ABC, Beresford House, Southampton, Hampshire SO14 2AQ, England 

(b) If different from its mailing address, the Pledgor’s place of business or, if more than one, its chief executive office is
located at the following address: 
  

					
	 Address
	  	 County
	  	 State

	 Beresford House, Town

Quay, Southampton,

Hampshire, UK SO142AQ
	  	Hampshire	  	England

 (c) The following is the type of organization of the Pledgor: 

Private limited company under the Companies Act of 1985. 
 (d) The following is the jurisdiction of the Pledgor’s organization: 

England & Wales 
 (e) The following is the Pledgor’s organizational identification number issued in the Pledgor’s jurisdiction: 
 Company Number: 3868601 on the Companies Register 

  
 Sch.II-1

 Schedule II to the 
 Collateral Agreement 
 Perfection Requirements/Filing Jurisdictions 

 

	1.	Bahamas 

 None.

  

	2.	Bermuda 

Registration with Registrar of Companies under Section 61 of the Companies Act for the security interest granted by CP2 under the
Deed of Covenants. 
  

	3.	England 

  

	 	a.	Notice of Assignment of Voyager Management Agreement from Supplystill to CP(UK) and acknowledgement of such assignment from CP(UK). 

 

	 	b.	Notice of Assignment of Voyager Time Charter from Supplystill to Issuer and acknowledgement of such assignment from Issuer. 

 

	 	c.	Form MG01 in respect of Supplystill with Companies House under 860 of the Companies Act 2006 for each of the Collateral Agreement, Deed of Covenants, Earnings
Assignment, Insurance Assignment and Vessel Mortgage. 

  

	4.	Florida 

 UCC
financing statement naming Mariner, as Debtor, and the Collateral Agent, as Secured Party, with respect to the Collateral Agreement, Earnings Assignment and Insurance Assignment. 

 

	5.	Washington D.C. 

  

	 	a.	UCC financing statement naming CP2, as Debtor, and the Collateral Agent, as Secured Party, with respect to the Collateral Agreement, Earnings Assignment and Insurance
Assignment. 

  

	 	b.	UCC financing statement naming Supplystill, as Debtor, and the Collateral Agent, as Secured Party, with respect to the Collateral Agreement, Earnings Assignment and
Insurance Assignment. 

  
 Sch.II-1

 Exhibit I  
 to Collateral Agreement 
 Form of Additional Secured Party Consent

 [Name of Additional Secured Creditor] 
 [Address of Additional Secured Creditor] 
 [Date] 

 
  
  

 
  

 
  

 
 The undersigned is the agent or trustee (the
“Authorized Representative”) for persons wishing to become “Secured Parties” (the “New Secured Parties”) under the Second Lien Collateral Agreement dated as of May 19, 2011 (as heretofore amended
and/or supplemented, the “Collateral Agreement” (capitalized terms used without definition herein have the meanings assigned to such term by the Collateral Agreement)) among the subsidiaries of Seven Seas Cruises, S. DE R.L. a
Panamanian sociedad de responsibilidad limitada (the “Issuer”) identified therein as a party (each, a “Pledgor”) and
[                                ], as collateral agent (in such capacity, the
“Collateral Agent”) for the Secured Parties (as defined therein). 
 In consideration of the foregoing, the undersigned hereby:

 (i) represents that the Authorized Representative has been authorized by the New Secured Parties to become a
party to the Collateral Agreement on behalf of the New Secured Parties under that [DESCRIBE OPERATIVE AGREEMENT] (the “New Secured Obligation”) and to act as the Authorized Representative for the New Secured Parties; 

(ii) acknowledges that the New Secured Parties have received a copy of the Collateral Agreement; 

(iii) appoints and authorizes the Collateral Agent to take such action as agent on its behalf and on behalf of all other
Secured Parties and to exercise such powers under the Collateral Agreement as are delegated to the Collateral Agent by the terms thereof, together with all such powers as are reasonably incidental thereto; and 

(iv) accepts and acknowledges the terms of the Collateral Agreement applicable to it and the New Secured Parties and
agrees to serve as Authorized Representative for the New Secured Parties with respect to the New Secured Obligations and agrees on its own behalf and on behalf of the New Secured Parties to be bound by the terms hereof applicable to holders of Other
Second-Lien Obligations, with all the rights and obligations of a Secured Party thereunder and bound by all the provisions thereof as fully as if it had been a Secured Party on the effective date of the Collateral Agreement. 

  
 Sch.II-1

 The Collateral Agent, by acknowledging and agreeing to this Additional Secured Party Consent, accepts the
appointment set forth in clause (iii) above. 
 The name and address of the Authorized Representative for purposes of Section 5.02 of
the Collateral Agreement are as follows: 
 [name and address of Authorized Representative] 

THIS ADDITIONAL SECURED PARTY CONSENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 IN WITNESS WHEREOF, the undersigned has caused this Additional Secured Party Consent to be duly executed by its authorized officer as of the
             day of 20    . 
  

			
	[NAME OF AUTHORIZED REPRESENTATIVE]
		
	By:	 	  

		 	Name:
		 	Title:
	
	ACKNOWLEDGED AND AGREED
	[    ]
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 Sch.II-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}]]