Document:

Exhibit

JACK HENRY & ASSOCIATES, INC.
2015 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AGREEMENT 
 (Employees)

    
Date of Award:        _______________________

Number of RSUs Granted:    _______________________ (the “Award”)

THIS AWARD AGREEMENT dated _____________ is made by and between Jack Henry & Associates, Inc., a Delaware corporation (hereinafter called the “Company”), and _______________ (hereinafter called “Awardee”).
RECITALS:
A.    The Company’s stockholders and Board of Directors of the Company (“Board”) has adopted the Jack Henry & Associates, Inc. 2015 Equity Incentive Plan (“Plan”) pursuant to which restricted stock units may be granted to employees of the Company; and 
B.    The Company desires to grant restricted Stock Units (“RSUs”) to Awardee under the terms and conditions hereinafter set forth;
AGREEMENT:
In consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree as follows:
1.    Award Subject to Plan.  This Award is made under and is expressly subject to all the terms and provisions of the Plan, and which terms are incorporated herein by reference.  Awardee agrees to be bound by all the terms and provisions of the Plan.  Terms not defined herein shall have the meaning ascribed thereto in the Plan.
2.    Grant of Award.  Pursuant to the action of the undersigned officer as authorized by the Board, which action was taken on the date set forth above as Date of Award, the Company awards to Awardee the number of Restricted Stock Units identified above.  Subject to the other terms and conditions of the Plan and this Agreement, settlement of each RSU as provided in Section 4 entitles Awardee to the issuance of one share of Common Stock, or, if permitted under the Plan and where the Board elects to settle an RSU for cash, a cash payment equal to the fair market value of the share underlying the RSU that the Board elects to settle for cash.   
3.    Restrictions.  Except as may be permitted under the Plan or by the Board, the RSUs are not transferable by sale, assignment, disposition, gift, exchange, pledge, hypothecation, or otherwise.  Any attempted disposition of the RSUs, or the levy of any execution, attachment or similar process upon the RSUs prior to settlement, shall be null and void and without effect.  Holding RSUs does not give Awardee the rights of a shareholder (including without limitation the right to vote or receive dividends or other distributions) with respect to shares of Common Stock underlying the RSUs that the Company may issue under the terms and conditions of this Agreement. 
4.    Settlement, Forfeiture and Share Issuance. 

(a)Settlement Dates.  The RSUs awarded hereunder shall settle according to the following schedule, with the percentages below being applied to the Award by rounding down to the nearest whole share:
Anniversary of Date of Award        Percentage Settled
First Anniversary             33 1/3%
Second Anniversary             33 1/3%
Third Anniversary             33 1/3%

 (b)    Form of Settlement.    To the extent permissible under the Plan, the Committee, in its sole discretion, may elect to settle an RSU by issuing shares of Common Stock or by making a cash payment to Awardee in an amount equal to the then fair market value of the share of Common Stock underlying the RSU being settled, less any amounts necessary to satisfy the Company's tax withholding obligations. 

(c)      Forfeiture.  Subject to the other provisions of this Section 4, all remaining non-settled RSUs shall be forfeited if Awardee ceases to be an employee of the Company prior to any of the Settlement Dates. Upon any such forfeiture, under no circumstances will the Company be obligated to make any payment to Awardee, and no shares of Common Stock shall be issued, as a result of such forfeited RSUs.   

(d)    Share Issuance; Company Stock Ownership Guidelines.  
(i)    Except as otherwise provided herein, upon the settlement of a specific number of RSUs for shares of Common Stock as provided in this Section, the Company shall issue a corresponding number of shares of Common Stock to Awardee on the Settlement Date provided that tax withholding obligations have been satisfied as provided in Section 5.  The Company’s transfer agent may issue shares of Common Stock in certificated or book entry form as determined by the Company’s Corporate Secretary.  Upon issuance of the Shares, Awardee shall have all rights of a shareholder with respect thereto including the right to vote and receive all dividends or other distributions made or paid with respect to the shares of Common Stock. 
(ii)    Any Shares acquired by Awardee on the Settlement Date pursuant to this Award may be subject to any Company stock ownership guidelines or stock ownership policy as determined appropriate by the Committee and communicated to Awardee.  Awardee agrees that Awardee will comply with and adhere to such stock ownership guidelines or stock ownership policy.    
5.    Tax Withholding.  Awardee understands and agrees that, at the time any tax withholding obligation arises in connection with the issuance of a share of Common Stock or, if permitted under the Plan, a cash payment, the Company may withhold, in shares of Common Stock if a valid election applies under this Section 5 or in cash from amounts the Company owes or will owe Awardee, any applicable minimum withholding, payroll and other required tax amounts due upon the issuance of shares of Common Stock or cash payment.  Tax withholding may be made by any means permitted under the Plan, as approved by the Committee, and as permitted under the law.  The valuation of the RSUs, and any shares of Common Stock that the Company may issue attributable to RSUs, for tax and other purposes shall be determined in accordance with all applicable laws and regulations.  In the absence of the satisfaction of tax obligations, the Company may refuse to issue shares of Common Stock or make any other payment hereunder.    
6.    Dividends and Voting.  Prior to an RSU settlement date, Awardee shall have no right to receive any dividends or dividend equivalent payments with respect to the RSUs.  Awardee will have no voting rights with respect to any of the RSUs or the shares of Common Stock underlying the RSUs.
7.    Administration.  This Award has been made pursuant to a determination made by the Board, or a committee authorized by the Board, subject to the express terms of this Agreement, and the Board or such committee shall have plenary authority to interpret any provision of this Agreement and to make any determinations necessary or advisable for the administration of this Agreement and may waive or amend any provisions hereof in any manner not adversely affecting the rights granted to Awardee by the express terms hereof.
8.    No Right to Continued Service.   Nothing in this Agreement shall be deemed to create any limitation or restriction on such rights as the Company otherwise would have to terminate the employment of the Awardee.
9.    Amendment; Entire Agreement and Binding Effect.  This Agreement may be amended only by a writing executed by the parties hereto which specifically states that it is amending this Agreement.  This Agreement and the Plan constitute the entire contract between the parties hereto with regard to the subject matter hereof.  They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) that relate to the subject matter hereof.  Except as expressly stated herein to the contrary, this Agreement will be binding upon and inure to the benefit of the respective heirs, legal representatives, successors and assigns of the parties hereto. 
10.      Choice of Law.  This Agreement shall be governed by the laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Agreement to the substantive law of another jurisdiction.  Awardee is deemed to submit to the exclusive jurisdiction and venue of the federal or state courts of Missouri to resolve any and all issues that may arise out of or relate to this agreement.
The Company has caused this Agreement to be executed on its behalf, and Awardee has signed this Agreement to evidence Awardee’s acceptance of the terms hereof, all as of the date first above written.
JACK HENRY & ASSOCIATES, INC.

By:                       

Title: CFO/Treasurer

AWARDEE

                    

Name:________________Exhibit 10.1

 

	 

 

	 	

THIRD

    AMENDED AND RESTATED CREDIT AGREEMENT

by and among

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent,

THE LENDERS THAT ARE PARTIES HERETO

as the Lenders,

and

ASURE SOFTWARE, INC.

as Borrower

Dated as of December 31, 2019
 	 

 

	 

 

     

     

    

 

TABLE OF CONTENTS

 

Page

 

	1.	DEFINITIONS AND CONSTRUCTION	1
	 	1.1. 	Definitions	1
	 	1.2.   	Accounting Terms	1
	 	1.3.   	Code	2
	 	1.4.   	Construction	2
	 	1.5.   	Time References	3
	 	1.6.   	Schedules and Exhibits	3
	 	1.7.   	Divisions	3
	 	 
	2.	LOANS AND TERMS OF PAYMENT	4
	 	2.1.   	Revolving Loans	4
	 	2.2.   	Term Loans	5
	 	2.3.   	Borrowing Procedures and Settlements	5
	 	2.4.   	Payments; Reductions of Commitments; Prepayments	12
	 	2.5.   	Promise to Pay; Promissory Notes	19
	 	2.6.   	Interest Rates and Letter of Credit Fee:  Rates, Payments, and Calculations	19
	 	2.7.   	Crediting Payments	21
	 	2.8.   	Designated Account	21
	 	2.9.   	Maintenance of Loan Account; Statements of Obligations	21
	 	2.10.   	Fees	22
	 	2.11.   	Letters of Credit	23
	 	2.12.   	LIBOR Option	32
	 	2.13.   	Capital Requirements	35
	 	 	 
	3.	CONDITIONS; TERM OF AGREEMENT	37
	 	3.1.   	Conditions Precedent to the Initial Extension of Credit	37
	 	3.2.   	Conditions Precedent to all Extensions of Credit	37
	 	3.3.   	Maturity	37
	 	3.4.   	Effect of Maturity	37
	 	3.5.   	Early Termination by Borrower	38
	 	3.6.   	Conditions Subsequent	38
	 	 	 
	4.	REPRESENTATIONS AND WARRANTIES	38
	 	4.1.   	Due Organization and Qualification; Subsidiaries	38
	 	4.2.   	Due Authorization; No Conflict	39
	 	4.3.   	Governmental Consents	39
	 	4.4.   	Binding Obligations; Perfected Liens	40
	 	4.5.   	Title to Assets; No Encumbrances	40
	 	4.6.   	Litigation	40
	 	4.7.   	Compliance with Laws	41
	 	4.8.   	No Material Adverse Effect	41
	 	4.9.   	Solvency	41
	 	4.10.   	Employee Benefits	41

 

    -i-

     

    

 

	 	4.11.   	Environmental Condition	41
	 	4.12.   	Complete Disclosure	42
	 	4.13.   	Patriot Act	42
	 	4.14.   	Indebtedness	42
	 	4.15.   	Payment of Taxes	43
	 	4.16.   	Margin Stock	43
	 	4.17.   	Governmental Regulation	43
	 	4.18.   	OFAC; Sanctions; Anti-Corruption Laws; Anti-Money Laundering Laws	43
	 	4.19.   	Employee and Labor Matters	44
	 	4.20.   	Leases	44
	 	4.21.   	Hedge Agreements	44
	 	4.22.   	Privacy and Information Security	44
	 	 	 
	5.	AFFIRMATIVE COVENANTS	45
	 	5.1.   	Financial Statements, Reports, Certificates	45
	 	5.2.   	Reporting	45
	 	5.3.   	Existence	45
	 	5.4.   	Maintenance of Properties	45
	 	5.5.   	Taxes	46
	 	5.6.   	Insurance	46
	 	5.7.   	Inspection	46
	 	5.8.   	Compliance with Laws	47
	 	5.9.   	Environmental	47
	 	5.10.   	Disclosure Updates	47
	 	5.11.   	Formation of Subsidiaries	48
	 	5.12.   	Further Assurances	48
	 	5.13.   	Lender Meetings	49
	 	5.14.   	Bank Products	49
	 	5.15.   	Hedge Agreements	49
	 	5.16.   	OFAC; Sanctions; Anti-Corruption Laws; Anti-Money Laundering Laws	49
	 	5.17.   	Information Security Requirements; Personal Information	49
	 	 	 
	6.	NEGATIVE COVENANTS	50
	 	6.1.   	Indebtedness	50
	 	6.2.   	Liens	50
	 	6.3.   	Restrictions on Fundamental Changes	50
	 	6.4.   	Disposal of Assets	50
	 	6.5.   	Nature of Business	51
	 	6.6.   	Prepayments and Amendments	51
	 	6.7.   	Restricted Payments	51
	 	6.8.   	Accounting Methods	52
	 	6.9.   	Investments	52
	 	6.10.   	Transactions with Affiliates	52
	 	6.11.   	Use of Proceeds	53
	 	6.12.   	Limitation on Issuance of Equity Interests	53
	 	6.13.   	Anti-Corruption Laws/Sanctions	53

 

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	7.	FINANCIAL COVENANTS	53
	 	 	 
	8.	 EVENTS OF DEFAULT	55
	 	8.1.   	Payments	55
	 	8.2.   	Covenants	55
	 	8.3.   	Judgments	56
	 	8.4.   	Voluntary Bankruptcy, etc.	56
	 	8.5.   	Involuntary Bankruptcy, etc.	56
	 	8.6.   	Default Under Other Agreements	56
	 	8.7.   	Representations, etc.	56
	 	8.8.   	Guaranty	57
	 	8.9.   	Security Documents	57
	 	8.10.   	Loan Documents	57
	 	8.11.   	Change of Control	57
	 	 	 
	9.	RIGHTS AND REMEDIES	57
	 	9.1.   	Rights and Remedies	57
	 	9.2.   	Remedies Cumulative	58
	 	 	 
	10.	WAIVERS; INDEMNIFICATION	58
	 	10.1.   	Demand; Protest; etc.	58
	 	10.2.   	The Lender Group's Liability for Collateral	58
	 	10.3.   	Indemnification	59
	 	 	 
	11.	NOTICES	60
	 	 	 
	12.	CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER; JUDICIAL REFERENCE PROVISION	61
	 	 	 
	13.	ASSIGNMENTS AND PARTICIPATIONS; SUCCESSORS	64
	 	13.1.   	Assignments and Participations	64
	 	13.2.   	Successors	69
	 	 	 
	14.	AMENDMENTS; WAIVERS	69
	 	14.1.   	Amendments and Waivers	69
	 	14.2.   	Replacement of Certain Lenders	71
	 	14.3.   	No Waivers; Cumulative Remedies	72
	 	 	 
	15.	AGENT; THE LENDER GROUP	72
	 	15.1.   	Appointment and Authorization of Agent	72
	 	15.2.   	Delegation of Duties	73
	 	15.3.   	Liability of Agent	73
	 	15.4.   	Reliance by Agent	74
	 	15.5.   	Notice of Default or Event of Default	74
	 	15.6.   	Credit Decision	74
	 	15.7.   	Costs and Expenses; Indemnification	75
	 	15.8.   	Agent in Individual Capacity	76
	 	15.9.   	Successor Agent	76

 

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	 	15.10.   	Lender in Individual Capacity	77
	 	15.11.   	Collateral Matters	77
	 	15.12.   	Restrictions on Actions by Lenders; Sharing of Payments	79
	 	15.13.   	Agency for Perfection	79
	 	15.14.   	Payments by Agent to the Lenders	79
	 	15.15.   	Concerning the Collateral and Related Loan Documents	80
	 	15.16.   	Financial Examination Reports; Confidentiality; Disclaimers by Lenders; Other Reports and Information	80
	 	15.17.   	Several Obligations; No Liability	81
	 	 	 
	16.	WITHHOLDING TAXES	81
	 	16.1.   	Payments	81
	 	16.2.   	Exemptions	82
	 	16.3.   	Indemnification	84
	 	16.4.   	Refunds	84
	 	16.5.   	Survival	85
	 	 	 
	17.	GENERAL PROVISIONS	85
	 	17.1.   	Effectiveness	85
	 	17.2.   	Section Headings	85
	 	17.3.   	Interpretation	85
	 	17.4.   	Severability of Provisions	85
	 	17.5.   	Bank Product Providers	85
	 	17.6.   	Debtor-Creditor Relationship	86
	 	17.7.   	Counterparts; Electronic Execution	86
	 	17.8.   	Revival and Reinstatement of Obligations; Certain Waivers	86
	 	17.9.   	Confidentiality	87
	 	17.10.   	Survival	89
	 	17.11.   	Patriot Act	89
	 	17.12.   	Integration	89
	 	17.13.   	Amendment and Restatement of Second Amended and Restated Credit Agreement	90
	 	17.14.   	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	91
	 	17.15.   	Acknowledgement Regarding Any Supported QFCs	92

 

    -iv-

     

    

 

EXHIBITS AND SCHEDULES

 

	Exhibit A-1	Form of Assignment and Acceptance 
	Exhibit C-1	Form of Compliance Certificate
	Exhibit I-1	Form of IP Reporting Certificate
	Exhibit L-1	Form of LIBOR Notice 
	Exhibit P-1	Form of Perfection Certificate
	Exhibit T-1	Form of U.S Tax Compliance Certificate (Section 16.2(a)(i))
	Exhibit T-2	Form of U.S Tax Compliance Certificate (Section 16.2(a)(iv) – option 1)
	Exhibit T-3	Form of U.S Tax Compliance Certificate (Section 16.2(a)(iv) – option 2)
	Exhibit T-4	Form of U.S Tax Compliance Certificate (Section 16.2(a)(iv) – option 3)

 

	Schedule A-1	Agent's Account
	Schedule A-2	Authorized Persons
	Schedule C-1	Commitments
	Schedule D-1	Designated Account
	Schedule P-1	Permitted Investments
	Schedule P-2	Permitted Liens
	Schedule 1.1	Definitions
	Schedule 3.1	Conditions Precedent
	Schedule 3.6	Conditions Subsequent
	Schedule 4.1(b)	Capitalization of Borrower
	Schedule 4.1(c)	Capitalization of Borrower's Subsidiaries
	Schedule 4.1(d)	Subscriptions, Options, Warrants, Calls
	Schedule 4.6	Litigation
	Schedule 4.11	Environmental Matters
	Schedule 4.14	Permitted Indebtedness
	Schedule 4.22	Privacy and Information Security
	Schedule 5.1	Financial Statements, Reports, Certificates
	Schedule 5.2	Collateral Reporting 
	Schedule 6.5	Nature of Business

 

    -v-

     

    

 

THIRD AMENDED AND RESTATED CREDIT
AGREEMENT

 

THIS THIRD AMENDED
AND RESTATED CREDIT AGREEMENT (this "Agreement"), is entered into as of December 31, 2019, by and among
the lenders identified on the signature pages hereof (each of such lenders, together with its successors and permitted assigns,
is referred to hereinafter as a "Lender", as that term is hereinafter further defined), WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association, as administrative agent for each member of the Lender Group and the Bank Product
Providers (in such capacity, together with its successors and assigns in such capacity, "Agent"), and ASURE
SOFTWARE, INC., a Delaware corporation ("Borrower").

 

WHEREAS, Agent and
the Lenders, on the one hand, and Borrower, on the other hand, are parties to that certain Second Amended and Restated Credit Agreement,
dated as of March 29, 2018 (as amended, supplemented, or otherwise modified from time to time prior to the Closing Date,
the "Second Amended and Restated Credit Agreement"), which amended and restated that certain Amended and Restated
Credit Agreement, dated as of May 25, 2017 (as amended, supplemented, or otherwise modified from time to time, the "First
Amended and Restated Credit Agreement"), which amended and restated that certain Credit Agreement, dated as of March 20,
2014 (as amended, supplemented, or otherwise modified from time to time, the "Original Credit Agreement");

 

WHEREAS, Agent, Lenders,
and Borrower are willing to amend and restate the Second Amended and Restated Credit Agreement in accordance with the terms and
conditions hereof; it being understood that no repayment of the outstanding amounts payable under the Second Amended and Restated
Credit Agreement as of the Closing Date is being effected hereby but is merely an amendment and restatement in accordance with
the terms hereof.

 

The parties agree that
the Second Amended and Restated Credit Agreement is hereby amended and restated as follows:

 

1.                 
DEFINITIONS AND CONSTRUCTION.

 

1.1.           
Definitions. Capitalized terms used in this Agreement shall have the meanings specified therefor on Schedule 1.1.

 

1.2.            Accounting
Terms. All accounting terms not specifically defined herein shall be construed in accordance with GAAP; provided,
that if Borrower notifies Agent that Borrower requests an amendment to any provision hereof to eliminate the effect of any
Accounting Change occurring after the Closing Date or in the application thereof on the operation of such provision (or if
Agent notifies Borrower that the Required Lenders request an amendment to any provision hereof for such purpose),
regardless of whether any such notice is given before or after such Accounting Change or in the application thereof, then
Agent and Borrower agree that they will negotiate in good faith amendments to the provisions of this Agreement that are
directly affected by such Accounting Change with the intent of having the respective positions of the Lenders and Borrower
after such Accounting Change conform as nearly as possible to their respective positions as of the date of this Agreement
and, until any such amendments have been agreed upon and agreed to by the Required Lenders, the provisions in this Agreement
shall be calculated as if no such Accounting Change had occurred. When used herein, the term "financial
statements" shall include the notes and schedules thereto. Notwithstanding any changes in GAAP after December 31, 2018,
any lease of the Borrowers or their Subsidiaries that would be characterized as an operating lease under GAAP in effect on
December 31, 2018 (whether such lease is entered into before or after December 31, 2018) shall not constitute a Capital Lease
under this Agreement or any other Loan Document as a result of such changes in GAAP unless otherwise agreed to in writing by
the Borrowers and Agent. Whenever the term "Borrower" is used in respect of a financial covenant or a related
definition, it shall be understood to mean Borrower and its Subsidiaries on a consolidated basis, unless the context clearly
requires otherwise. Notwithstanding anything to the contrary contained herein, (a) all financial statements delivered
hereunder shall be prepared, and all financial covenants contained herein shall be calculated, without giving effect to any
election under the Statement of Financial Accounting Standards Board's Accounting Standards Codification Topic 825 (or any
similar accounting principle) permitting a Person to value its financial liabilities or Indebtedness at the fair value
thereof, and (b) the term "unqualified opinion" as used herein to refer to opinions or reports provided by
accountants shall mean an opinion or report that is (i) unqualified, and (ii) does not include any
explanation, supplemental comment, or other comment concerning the ability of the applicable Person to continue as a going
concern or concerning the scope of the audit

 

     

     

    

 

1.3.           
Code. Any terms used in this Agreement that are defined in the Code shall be construed and defined as set
forth in the Code unless otherwise defined herein; provided, that to the extent that the Code is used to define any term
herein and such term is defined differently in different Articles of the Code, the definition of such term contained in Article 9
of the Code shall govern.

 

1.4.            Construction.
Unless the context of this Agreement or any other Loan Document clearly requires otherwise, references to the plural include
the singular, references to the singular include the plural, the terms "includes" and "including" are not
limiting, and the term "or" has, except where otherwise indicated, the inclusive meaning represented by the phrase
"and/or." The words "hereof," "herein," "hereby," "hereunder," and similar
terms in this Agreement or any other Loan Document refer to this Agreement or such other Loan Document, as the case may be,
as a whole and not to any particular provision of this Agreement or such other Loan Document, as the case may be.
Section, subsection, clause, schedule, and Exhibit references herein are to this Agreement unless otherwise specified.
Any reference in this Agreement or in any other Loan Document to any agreement, instrument, or document shall include all
alterations, amendments, changes, extensions, modifications, renewals, replacements, substitutions, joinders, and
supplements, thereto and thereof, as applicable (subject to any restrictions on such alterations, amendments, changes,
extensions, modifications, renewals, replacements, substitutions, joinders, and supplements set forth herein). The words
"asset" and "property" shall be construed to have the same meaning and effect and to refer to any and all
tangible and intangible assets and properties. Any reference herein or in any other Loan Document to the satisfaction,
repayment, or payment in full of the Obligations shall mean (a) the payment or repayment in full in immediately
available funds of (i) the principal amount of, and interest accrued and unpaid with respect to, all outstanding Loans,
together with the payment of any premium applicable to the repayment of the Loans, (ii) all Lender Group Expenses that
have accrued and are unpaid regardless of whether demand has been made therefor, (iii) all fees or charges that have
accrued hereunder or under any other Loan Document (including the Letter of Credit Fee and the Unused Line Fee) and are
unpaid, (b) in the case of contingent reimbursement obligations with respect to Letters of Credit, providing Letter of
Credit Collateralization, (c) in the case of obligations with respect to Bank Products (other than Hedge
Obligations), providing Bank Product Collateralization, (d) the receipt by Agent of cash collateral in order to secure
any other contingent Obligations for which a claim or demand for payment has been made on or prior to such time or in respect
of matters or circumstances known to Agent or a Lender at such time that are reasonably expected to result in any loss, cost,
damage, or expense (including attorneys' fees and legal expenses), such cash collateral to be in such amount as Agent
reasonably determines is appropriate to secure such contingent Obligations, (e) the payment or repayment in full in
immediately available funds of all other outstanding Obligations (including the payment of any termination amount then
applicable (or which would or could become applicable as a result of the repayment of the other Obligations) under Hedge
Agreements provided by Hedge Providers) other than (i) unasserted contingent indemnification Obligations,
(ii) any Bank Product Obligations (other than Hedge Obligations) that, at such time, are allowed by the applicable
Bank Product Provider to remain outstanding without being required to be repaid or cash collateralized, and (iii) any
Hedge Obligations that, at such time, are allowed by the applicable Hedge Provider to remain outstanding without being
required to be repaid, and (f) the termination of all of the Commitments of the Lenders. Any reference herein to
any Person shall be construed to include such Person's successors and assigns. Any requirement of a writing contained herein
or in any other Loan Document shall be satisfied by the transmission of a Record.

 

    -2- 

     

    

 

1.5.           
Time References. Unless the context of this Agreement or any other Loan Document clearly requires otherwise,
all references to time of day refer to Pacific standard time or Pacific daylight saving time, as in effect in Los Angeles, California
on such day. For purposes of the computation of a period of time from a specified date to a later specified date, unless otherwise
expressly provided, the word "from" means "from and including" and the words "to" and "until"
each means "to and including"; provided that, with respect to a computation of fees or interest payable to Agent
or any Lender, such period shall in any event consist of at least one full day.

 

1.6.           
Schedules and Exhibits. All of the schedules and exhibits attached to this Agreement shall be deemed incorporated
herein by reference.

 

1.7.           
Divisions. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware
law (or any comparable event under a different jurisdiction's laws): (a) if any asset, right, obligation or liability of any Person
becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from
the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to
have been organized on the first date of its existence by the holders of its Equity Interests at such time.

 

    -3- 

     

    

 

2.                 
LOANS AND TERMS OF PAYMENT.

 

2.1.           
Revolving Loans.

 

(a)              
Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Revolving Lender agrees
(severally, not jointly or jointly and severally) to make revolving loans ("Revolving Loans") to Borrower
in an amount at any one time outstanding not to exceed the lesser of:

 

(i)                such Lender's Revolver Commitment, or

 

(ii)              
such Lender's Pro Rata Share of an amount equal to (1) the Maximum Revolver Amount less (2) the sum of
(y) the Letter of Credit Usage at such time, plus (z) the principal amount of Swing Loans outstanding at such
time.

 

(b)              
Amounts borrowed pursuant to this Section 2.1 may be repaid and, subject to the terms and conditions of this
Agreement, reborrowed at any time during the term of this Agreement. The outstanding principal amount of the Revolving Loans, together
with interest accrued and unpaid thereon, shall constitute Obligations and shall be due and payable on the Maturity Date or, if
earlier, on the date on which they are declared due and payable pursuant to the terms of this Agreement.

 

(c)              
Anything to the contrary in this Section 2.1 notwithstanding, Agent shall have the right (but not the obligation) to
establish Bank Product Reserves (in its Permitted Discretion) from time to time against the Maximum Revolver Amount.

 

    -4- 

     

    

 

2.2.            Term
Loans. On the Original Closing Date, subject to the terms and conditions of the Original Credit Agreement (prior to its
amendment and restatement pursuant to the terms of the First Amended and Restated Credit Agreement on the First Amended and
Restated Closing Date), each Lender with a "Term Loan Commitment" (as defined in the Original Credit
Agreement) made (severally, not jointly or jointly and severally) term loans (the "Original Term
Loans") to Borrower then party to the Original Credit Agreement. On the First Amended and Restated Closing
Date, subject to the terms and conditions of the First Amended and Restated Credit Agreement (prior to its amendment and
restatement pursuant to the terms of the Second Amended and Restated Credit Agreement on the Second Amended and Restated
Closing Date), each Lender with a "Term Loan Commitment" (as defined in the First Amended and Restated Credit
Agreement) made (severally, not jointly or jointly and severally) term loans (the "First Amended and Restated Term
Loans") to Borrower then party to the First Amended and Restated Credit Agreement. On the Second Amended and
Restated Closing Date, subject to the terms and conditions of the Second Amended and Restated Credit Agreement (prior to its
amendment and restatement pursuant to the terms hereof on the Closing Date), each Lender with a "Term Loan
Commitment" (as defined in the Second Amended and Restated Credit Agreement) made (severally, not jointly or jointly and
severally) term loans (the "Second Amended and Restated Term Loans") to Borrower then party to the
Second Amended and Restated Credit Agreement. The outstanding principal balance of the Original Term Loan plus the
First Amended and Restated Term Loans plus the Second Amended and Restated Term Loans was paid in full as of the Paydown
Date. On the Closing Date, each Lender agrees to make a new term loan to Borrower in the amount of such Lender's Term
Loan Commitment ("Term Loan"). The Term Loan Commitments of Lenders shall terminate concurrently with the
making of the Term Loan on the Closing Date. The principal of the Term Loan shall be repaid on the following dates and in the
following amounts (each, an "Installment Amount"):

 

	Date	Installment Amount
	March 31, 2020 and the last day of each fiscal quarter thereafter through and including December 31, 2021	$125,000.00
	March 31, 2022 and the last day of each fiscal quarter thereafter	$250,000.00

 

The outstanding unpaid principal balance
and all accrued and unpaid interest on the Term Loan shall be due and payable on the earlier of (i) the Maturity Date, and
(ii) the date of the acceleration of the Term Loan in accordance with the terms hereof. Any principal amount of the Term Loan
that is repaid or prepaid may not be reborrowed. All principal of, interest on, and other amounts payable in respect of the Term
Loan shall constitute Obligations hereunder.

 

2.3.           
Borrowing Procedures and Settlements.

 

(a)              
Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request by an Authorized Person
delivered to Agent (which may be delivered through Agent's electronic platform or portal) and received by Agent no later than 11:00
a.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, (ii) on the
Business Day that is one Business Day prior to the requested Funding Date in the case of a request for a Base Rate Loan, and (iii) on
the Business Day that is three Business Days prior to the requested Funding Date in the case of all other requests, specifying
(A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day); provided,
that Agent may, in its sole discretion, elect to accept as timely requests that are received later than 11:00 a.m. on the applicable
Business Day. All Borrowing requests which are not made on-line via Agent's electronic platform or portal shall be subject to (and
unless Agent elects otherwise in the exercise of its sole discretion, such Borrowings shall not be made until the completion of)
Agent's authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving Loan.

 

    -5- 

     

    

 

(b)               Making
of Swing Loans. In the case of a Revolving Loan and so long as any of (i) the aggregate amount of Swing Loans made
since the last Settlement Date, minus all payments or other amounts applied to Swing Loans since the last
Settlement Date, plus the amount of the requested Swing Loan does not exceed $500,000, or (ii) Swing Lender, in its sole
discretion, agrees to make a Swing Loan notwithstanding the foregoing limitation, Swing Lender shall make a Revolving Loan
(any such Revolving Loan made by Swing Lender pursuant to this Section 2.3(b) being referred to as a
"Swing Loan" and all such Revolving Loans being referred to as "Swing
Loans") available to Borrower on the Funding Date applicable thereto by transferring immediately available
funds in the amount of such requested Borrowing to the Designated Account. Each Swing Loan shall be deemed to be a Revolving
Loan hereunder and shall be subject to all the terms and conditions (including Section 3) applicable to
other Revolving Loans, except that all payments (including interest) on any Swing Loan shall be payable to Swing Lender
solely for its own account. Subject to the provisions of Section 2.3(d)(ii), Swing Lender shall not make and shall not
be obligated to make any Swing Loan if Swing Lender has actual knowledge that (i) one or more of the applicable
conditions precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the
applicable Borrowing, or (ii) the requested Borrowing would exceed the Availability on such Funding Date. Swing Lender
shall not otherwise be required to determine whether the applicable conditions precedent set forth in Section 3
have been satisfied on the Funding Date applicable thereto prior to making any Swing Loan. The Swing Loans shall be secured
by Agent's Liens, constitute Revolving Loans and Obligations, and bear interest at the rate applicable from time to time to
Revolving Loans that are Base Rate Loans.

 

(c)              
Making of Revolving Loans.

 

(i)                
In the event that Swing Lender is not obligated to make a Swing Loan, then after receipt of a request for a Borrowing pursuant
to Section 2.3(a)(i), Agent shall notify the Lenders by telecopy, telephone, email, or other electronic form of transmission,
of the requested Borrowing; such notification to be sent on the Business Day that is (A) in the case of a Base Rate Loan,
at least one Business Day prior to the requested Funding Date, or (B) in the case of a LIBOR Rate Loan, prior to 11:00 a.m.
at least three Business Days prior to the requested Funding Date. If Agent has notified the Lenders of a requested Borrowing on
the Business Day that is 1 Business Day prior to the Funding Date, then each Lender having Revolver Commitments shall make the
amount of such Lender's Pro Rata Share of the requested Borrowing available to Agent in immediately available funds, to Agent's
Account, not later than 10:00 a.m. on the Business Day that is the requested Funding Date. After Agent's receipt of the proceeds
of such Revolving Loans from the Lenders, Agent shall make the proceeds thereof available to Borrower on the applicable Funding
Date by transferring immediately available funds equal to such proceeds received by Agent to the Designated Account; provided,
that, subject to the provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loan,
if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on the
requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing
would exceed the Availability on such Funding Date.

 

(ii)              Unless
Agent receives notice from a Lender prior to 9:30 a.m. on the Business Day that is the requested Funding Date relative to a
requested Borrowing as to which Agent has notified the Lenders of a requested Borrowing that such Lender will not make
available as and when required hereunder to Agent for the account of Borrower the amount of that Lender's Pro Rata Share of
the Borrowing, Agent may assume that each Lender has made or will make such amount available to Agent in immediately
available funds on the Funding Date and Agent may (but shall not be so required), in reliance upon such assumption, make
available to Borrower a corresponding amount. If, on the requested Funding Date, any Lender having Revolver Commitments shall
not have remitted the full amount that it is required to make available to Agent in immediately available funds and if Agent
has made available to Borrower such amount on the requested Funding Date, then such Lender shall make the amount of such
Lender's Pro Rata Share of the requested Borrowing available to Agent in immediately available funds, to Agent's Account, no
later than 10:00 a.m. on the Business Day that is the first Business Day after the requested Funding Date (in which case, the
interest accrued on such Lender's portion of such Borrowing for the Funding Date shall be for Agent's separate account). If
any Lender shall not remit the full amount that it is required to make available to Agent in immediately available funds as
and when required hereby and if Agent has made available to Borrower such amount, then that Lender shall be obligated to
immediately remit such amount to Agent, together with interest at the Defaulting Lender Rate for each day until the date on
which such amount is so remitted. A notice submitted by Agent to any Lender with respect to amounts owing under this Section 2.3(c)(ii) shall
be conclusive, absent manifest error. If the amount that a Lender is required to remit is made available to Agent, then such
payment to Agent shall constitute such Lender's Revolving Loan for all purposes of this Agreement. If such amount is not made
available to Agent on the Business Day following the Funding Date, Agent will notify Borrower of such failure to fund and,
upon demand by Agent, Borrower shall pay such amount to Agent for Agent's account, together with interest thereon for each
day elapsed since the date of such Borrowing, at a rate per annum equal to the interest rate applicable at the time to
the Revolving Loans composing such Borrowing.

 

    -6- 

     

    

 

(d)              
Protective Advances.

 

(i)               Any
contrary provision of this Agreement or any other Loan Document notwithstanding, at any time (A) after the occurrence and
during the continuance of a Default or an Event of Default, (B) that any of the other applicable conditions precedent set
forth in Section 3 are not satisfied, or (C) at any time with respect to clauses (2) and (3) below,
Agent hereby is authorized by Borrower and the Lenders, from time to time, in Agent's sole discretion, to make Revolving Loans
to, or for the benefit of, Borrower, on behalf of the Revolving Lenders, that Agent, in its Permitted Discretion, deems necessary
or desirable to preserve or protect the Collateral, or any portion thereof, (2) to make payments with respect to any Tax
Lien subject to Borrower's right to make such Lien the subject of a Permitted Protest (and Borrower hereby authorizes Agent to
make such payment on Borrower's behalf), or (3) to enhance the likelihood of repayment of the Obligations (other than the
Bank Product Obligations) (the Revolving Loans described in this Section 2.3(d)(i) shall be referred to
as "Protective Advances").

 

(ii)             
Each Protective Advance shall be deemed to be a Revolving Loan hereunder, except that no Protective Advance shall be eligible
to be a LIBOR Rate Loan and, prior to Settlement therefor, all payments on the Protective Advances shall be payable to Agent solely
for its own account. The Protective Advances shall be repayable on demand, secured by Agent's Liens, constitute Obligations hereunder,
and bear interest at the rate applicable from time to time to Revolving Loans that are Base Rate Loans. The provisions of this
Section 2.3(d) are for the exclusive benefit of Agent, Swing Lender, and the Lenders and are not intended to benefit
Borrower (or any other Loan Party) in any way.

 

    -7- 

     

    

 

(e)              
Settlement. It is agreed that each Lender's funded portion of the Revolving Loans is intended by the Lenders to equal,
at all times, such Lender's Pro Rata Share of the outstanding Revolving Loans. Such agreement notwithstanding, Agent, Swing Lender,
and the other Lenders agree (which agreement shall not be for the benefit of Borrower) that in order to facilitate the administration
of this Agreement and the other Loan Documents, settlement among the Lenders as to the Revolving Loans, the Swing Loans, and the
Protective Advances shall take place on a periodic basis in accordance with the following provisions:

 

(i)                
Agent shall request settlement ("Settlement") with the Lenders on a weekly basis, or on a more frequent
basis if so determined by Agent in its sole discretion (1) on behalf of Swing Lender, with respect to the outstanding Swing
Loans, (2) for itself, with respect to the outstanding Protective Advances, and (3) with respect to Borrower's or its
Subsidiaries' payments or other amounts received, as to each by notifying the Lenders by telecopy, telephone, or other similar
form of transmission, of such requested Settlement, no later than 2:00 p.m. on the Business Day immediately prior to the date of
such requested Settlement (the date of such requested Settlement being the "Settlement Date"). Such notice of
a Settlement Date shall include a summary statement of the amount of outstanding Revolving Loans, Swing Loans, and Protective Advances
for the period since the prior Settlement Date. Subject to the terms and conditions contained herein (including Section 2.3(g)):
(y) if the amount of the Revolving Loans (including Swing Loans, and Protective Advances) made by a Lender that is not
a Defaulting Lender exceeds such Lender's Pro Rata Share of the Revolving Loans (including Swing Loans, and Protective Advances) as
of a Settlement Date, then Agent shall, by no later than 12:00 p.m. on the Settlement Date, transfer in immediately available funds
to a Deposit Account of such Lender (as such Lender may designate), an amount such that each such Lender shall, upon receipt of
such amount, have as of the Settlement Date, its Pro Rata Share of the Revolving Loans (including Swing Loans, and Protective Advances),
and (z) if the amount of the Revolving Loans (including Swing Loans, and Protective Advances) made by a Lender is less
than such Lender's Pro Rata Share of the Revolving Loans (including Swing Loans, and Protective Advances) as of a Settlement
Date, such Lender shall no later than 12:00 p.m. on the Settlement Date transfer in immediately available funds to Agent's Account,
an amount such that each such Lender shall, upon transfer of such amount, have as of the Settlement Date, its Pro Rata Share of
the Revolving Loans (including Swing Loans and Protective Advances). Such amounts made available to Agent under clause (z) of
the immediately preceding sentence shall be applied against the amounts of the applicable Swing Loans or Protective Advances and,
together with the portion of such Swing Loans or Protective Advances representing Swing Lender's Pro Rata Share thereof, shall
constitute Revolving Loans of such Lenders. If any such amount is not made available to Agent by any Lender on the Settlement Date
applicable thereto to the extent required by the terms hereof, Agent shall be entitled to recover for its account such amount on
demand from such Lender together with interest thereon at the Defaulting Lender Rate.

 

(ii)              In
determining whether a Lender's balance of the Revolving Loans, Swing Loans, and Protective Advances is less than, equal to,
or greater than such Lender's Pro Rata Share of the Revolving Loans, Swing Loans, and Protective Advances as of a
Settlement Date, Agent shall, as part of the relevant Settlement, apply to such balance the portion of payments actually
received in good funds by Agent with respect to principal, interest, fees payable by Borrower and allocable to the Lenders
hereunder, and proceeds of Collateral.

 

    -8- 

     

    

 

(iii)           
Between Settlement Dates, Agent, to the extent Protective Advances or Swing Loans are outstanding, may pay over to Agent
or Swing Lender, as applicable, any payments or other amounts received by Agent, that in accordance with the terms of this Agreement
would be applied to the reduction of the Revolving Loans, for application to the Protective Advances or Swing Loans. Between Settlement
Dates, Agent, to the extent no Protective Advances or Swing Loans are outstanding, may pay over to Swing Lender any payments or
other amounts received by Agent, that in accordance with the terms of this Agreement would be applied to the reduction of the Revolving
Loans, for application to Swing Lender's Pro Rata Share of the Revolving Loans. If, as of any Settlement Date, payments or other
amounts of Borrower or its Subsidiaries received since the then immediately preceding Settlement Date have been applied to Swing
Lender's Pro Rata Share of the Revolving Loans other than to Swing Loans, as provided for in the previous sentence, Swing Lender
shall pay to Agent for the accounts of the Lenders, and Agent shall pay to the Lenders (other than a Defaulting Lender if Agent
has implemented the provisions of Section 2.3(g)), to be applied to the outstanding Revolving Loans of such Lenders,
an amount such that each such Lender shall, upon receipt of such amount, have, as of such Settlement Date, its Pro Rata Share of
the Revolving Loans. During the period between Settlement Dates, Swing Lender with respect to Swing Loans, Agent with respect to
Protective Advances, and each Lender with respect to the Revolving Loans other than Swing Loans and Protective Advances, shall
be entitled to interest at the applicable rate or rates payable under this Agreement on the daily amount of funds employed by Swing
Lender, Agent, or the Lenders, as applicable.

 

(iv)            
Anything in this Section 2.3(e) to the contrary notwithstanding, in the event that a Lender is a Defaulting
Lender, Agent shall be entitled to refrain from remitting settlement amounts to the Defaulting Lender and, instead, shall be entitled
to elect to implement the provisions set forth in Section 2.3(g).

 

(f)               
Notation. Agent, as a non-fiduciary agent for Borrower, shall maintain a register showing the principal amount of
the Revolving Loans (and portion of the Term Loan , as applicable), owing to each Lender, including the Swing Loans owing to Swing
Lender, and Protective Advances owing to Agent, and the interests therein of each Lender, from time to time and such register shall,
absent manifest error, conclusively be presumed to be correct and accurate.

 

    -9- 

     

    

 

(g)              
Defaulting Lenders.

 

(i)                 Notwithstanding
the provisions of Section 2.4(b)(ii), Agent shall not be obligated to transfer to a Defaulting Lender any
payments made by Borrower to Agent for the Defaulting Lender's benefit or any proceeds of Collateral that would otherwise be
remitted hereunder to the Defaulting Lender, and, in the absence of such transfer to the Defaulting Lender, Agent shall
transfer any such payments (A) first, to Swing Lender to the extent of any Swing Loans that were made by Swing Lender
and that were required to be, but were not, paid by the Defaulting Lender, (B) second, to Issuing Bank, to the extent of
the portion of a Letter of Credit Disbursement that was required to be, but was not, paid by the Defaulting Lender,
(C) third, to each Non-Defaulting Lender ratably in accordance with their Commitments (but, in each case, only to the
extent that such Defaulting Lender's portion of a Revolving Loan (or other funding obligation) was funded by such other
Non-Defaulting Lender), (D) to a suspense account maintained by Agent, the proceeds of which shall be retained by Agent
and may be made available to be re-advanced to or for the benefit of Borrower (upon the request of Borrower and subject to
the conditions set forth in Section 3.2) as if such Defaulting Lender had made its portion of Revolving
Loans (or other funding obligations) hereunder, and (E) from and after the date on which all other Obligations have
been paid in full, to such Defaulting Lender in accordance with tier (L) of Section 2.4(b)(ii). Subject to
the foregoing, Agent may hold and, in its discretion, re-lend to Borrower for the account of such Defaulting Lender the
amount of all such payments received and retained by Agent for the account of such Defaulting Lender. Solely for the purposes
of voting or consenting to matters with respect to the Loan Documents (including the calculation of Pro Rata Share in
connection therewith) and for the purpose of calculating the fee payable under Section 2.10(b), such
Defaulting Lender shall be deemed not to be a "Lender" and such Lender's Commitment shall be deemed to
be zero; provided, that the foregoing shall not apply to any of the matters governed by Section 14.1(a)(i) through (iii).
The provisions of this Section 2.3(g) shall remain effective with respect to such Defaulting Lender until
the earlier of (y) the date on which all of the Non-Defaulting Lenders, Agent, Issuing Bank, and Borrower shall
have waived, in writing, the application of this Section 2.3(g) to such Defaulting Lender, or (z) the
date on which such Defaulting Lender makes payment of all amounts that it was obligated to fund hereunder, pays to Agent all
amounts owing by Defaulting Lender in respect of the amounts that it was obligated to fund hereunder, and, if requested by
Agent, provides adequate assurance of its ability to perform its future obligations hereunder (on which earlier date, so long
as no Event of Default has occurred and is continuing, any remaining cash collateral held by Agent pursuant to Section 2.3(g)(ii) shall
be released to Borrower). The operation of this Section 2.3(g) shall not be construed to increase or
otherwise affect the Commitment of any Lender, to relieve or excuse the performance by such Defaulting Lender or any other
Lender of its duties and obligations hereunder, or to relieve or excuse the performance by Borrower of its duties and
obligations hereunder to Agent, Issuing Bank, or to the Lenders other than such Defaulting Lender. Any failure by a
Defaulting Lender to fund amounts that it was obligated to fund hereunder shall constitute a material breach by such
Defaulting Lender of this Agreement and shall entitle Borrower, at its option, upon written notice to Agent, to arrange for a
substitute Lender to assume the Commitment of such Defaulting Lender, such substitute Lender to be reasonably acceptable to
Agent. In connection with the arrangement of such a substitute Lender, the Defaulting Lender shall have no right to refuse to
be replaced hereunder, and agrees to execute and deliver a completed form of Assignment and Acceptance in favor of the
substitute Lender (and agrees that it shall be deemed to have executed and delivered such document if it fails to do
so) subject only to being paid its share of the outstanding Obligations (other than Bank Product Obligations, but
including (1) all interest, fees, and other amounts that may be due and payable in respect thereof, and
(2) an assumption of its Pro Rata Share of its participation in the Letters of Credit); provided, that any such
assumption of the Commitment of such Defaulting Lender shall not be deemed to constitute a waiver of any of the Lender
Groups' or Borrower's rights or remedies against any such Defaulting Lender arising out of or in relation to such failure to
fund. In the event of a direct conflict between the priority provisions of this Section 2.3(g) and any other
provision contained in this Agreement or any other Loan Document, it is the intention of the parties hereto that such
provisions be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of
any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3(g) shall
control and govern.

 

    -10- 

     

    

 

(ii)             
If any Swing Loan or Letter of Credit is outstanding at the time that a Lender becomes a Defaulting Lender then:

 

(A)            
such Defaulting Lender's Swing Loan Exposure and Letter of Credit Exposure shall be reallocated among the Non-Defaulting
Lenders in accordance with their respective Pro Rata Shares but only to the extent (x) the sum of all Non-Defaulting Lenders'
Revolving Loan Exposures plus such Defaulting Lender's Swing Loan Exposure and Letter of Credit Exposure does not exceed the total
of all Non-Defaulting Lenders' Revolver Commitments and (y) the conditions set forth in Section 3.2 are satisfied
at such time;

 

(B)             
if the reallocation described in clause (A) above cannot, or can only partially, be effected, Borrower shall within
one Business Day following notice by the Agent (x) first, prepay such Defaulting Lender's Swing Loan Exposure (after giving
effect to any partial reallocation pursuant to clause (A) above) and (y) second, cash collateralize such Defaulting
Lender's Letter of Credit Exposure (after giving effect to any partial reallocation pursuant to clause (A) above), pursuant
to a cash collateral agreement to be entered into in form and substance reasonably satisfactory to the Agent, for so long as such
Letter of Credit Exposure is outstanding; provided, that Borrower shall not be obligated to cash collateralize any Defaulting
Lender's Letter of Credit Exposure if such Defaulting Lender is also the Issuing Bank;

 

(C)             
if Borrower cash collateralizes any portion of such Defaulting Lender's Letter of Credit Exposure pursuant to this Section 2.3(g)(ii),
Borrower shall not be required to pay any Letter of Credit Fees to Agent for the account of such Defaulting Lender pursuant to
Section 2.6(b) with respect to such cash collateralized portion of such Defaulting Lender's Letter of Credit Exposure
during the period such Letter of Credit Exposure is cash collateralized;

 

(D)            
to the extent the Letter of Credit Exposure of the Non-Defaulting Lenders is reallocated pursuant to this Section 2.3(g)(ii),
then the Letter of Credit Fees payable to the Non-Defaulting Lenders pursuant to Section 2.6(b) shall be adjusted
in accordance with such Non-Defaulting Lenders' Letter of Credit Exposure;

 

    -11- 

     

    

 

(E)             
to the extent any Defaulting Lender's Letter of Credit Exposure is neither cash collateralized nor reallocated pursuant
to this Section 2.3(g)(ii), then, without prejudice to any rights or remedies of the Issuing Bank or any Lender hereunder,
all Letter of Credit Fees that would have otherwise been payable to such Defaulting Lender under Section 2.6(b) with
respect to such portion of such Letter of Credit Exposure shall instead be payable to the Issuing Bank until such portion of such
Defaulting Lender's Letter of Credit Exposure is cash collateralized or reallocated;

 

(F)             
so long as any Lender is a Defaulting Lender, the Swing Lender shall not be required to make any Swing Loan and the Issuing
Bank shall not be required to issue, amend, or increase any Letter of Credit, in each case, to the extent (x) the Defaulting
Lender's Pro Rata Share of such Swing Loans or Letter of Credit cannot be reallocated pursuant to this Section 2.3(g)(ii) or
(y) the Swing Lender or Issuing Bank, as applicable, has not otherwise entered into arrangements reasonably satisfactory to
the Swing Lender or Issuing Bank, as applicable, and Borrower to eliminate the Swing Lender's or Issuing Bank's risk with respect
to the Defaulting Lender's participation in Swing Loans or Letters of Credit; and

 

(G)            
Agent may release any cash collateral provided by Borrower pursuant to this Section 2.3(g)(ii) to the Issuing
Bank and the Issuing Bank may apply any such cash collateral to the payment of such Defaulting Lender's Pro Rata Share of any Letter
of Credit Disbursement that is not reimbursed by Borrower pursuant to Section 2.11(d).

 

(h)              
Independent Obligations. All Revolving Loans (other than Swing Loans and Protective Advances) shall be made
by the Lenders contemporaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be
responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan (or other extension of credit) hereunder,
nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its
obligations hereunder, and (ii) no failure by any Lender to perform its obligations hereunder shall excuse any other Lender
from its obligations hereunder.

 

2.4.           
Payments; Reductions of Commitments; Prepayments.

 

(a)              
Payments by Borrower.

 

(i)                
Except as otherwise expressly provided herein, all payments by Borrower shall be made to Agent's Account for the account
of the Lender Group and shall be made in immediately available funds, no later than 1:30 p.m. on the date specified herein. Any
payment received by Agent later than 1:30 p.m. shall be deemed to have been received (unless Agent, in its sole discretion, elects
to credit it on the date received) on the following Business Day and any applicable interest or fee shall continue to accrue
until such following Business Day.

 

    -12- 

     

    

 

(ii)             
Unless Agent receives notice from Borrower prior to the date on which any payment is due to the Lenders that Borrower will
not make such payment in full as and when required, Agent may assume that Borrower has made (or will make) such payment in
full to Agent on such date in immediately available funds and Agent may (but shall not be so required), in reliance upon such assumption,
distribute to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent Borrower does
not make such payment in full to Agent on the date when due, each Lender severally shall repay to Agent on demand such amount distributed
to such Lender, together with interest thereon at the Defaulting Lender Rate for each day from the date such amount is distributed
to such Lender until the date repaid.

 

(b)              
Apportionment and Application.

 

(i)                
So long as no Application Event has occurred and is continuing and except as otherwise provided herein with respect to Defaulting
Lenders, all principal and interest payments received by Agent shall be apportioned ratably among the Lenders (according to the
unpaid principal balance of the Obligations to which such payments relate held by each Lender) and all payments of fees and
expenses received by Agent (other than fees or expenses that are for Agent's separate account or for the separate account of Issuing
Bank) shall be apportioned ratably among the Lenders having a Pro Rata Share of the type of Commitment or Obligation to which
a particular fee or expense relates. Subject to Section 2.4(b)(iv), Section 2.4(d)(ii), Section 2.4(e)
and Section 2.4(f) all payments to be made hereunder by Borrower shall be remitted to Agent and all such payments, and all
proceeds of Collateral received by Agent, shall be applied, so long as no Application Event has occurred and is continuing and
except as otherwise provided herein with respect to Defaulting Lenders, to reduce the balance of the Revolving Loans outstanding
and, thereafter, to Borrower (to be wired to the Designated Account) or such other Person entitled thereto under applicable
law.

 

(ii)             
At any time that an Application Event has occurred and is continuing and except as otherwise provided herein with respect
to Defaulting Lenders, all payments remitted to Agent and all proceeds of Collateral received by Agent shall be applied as follows:

 

(A)            
first, to pay any Lender Group Expenses (including cost or expense reimbursements) or indemnities then due to
Agent under the Loan Documents, until paid in full,

 

(B)             
second, to pay any fees or premiums then due to Agent under the Loan Documents until paid in full,

 

(C)             
third, to pay interest due in respect of all Protective Advances until paid in full,

 

(D)            
fourth, to pay the principal of all Protective Advances until paid in full,

 

    -13- 

     

    

 

(E)             
fifth, ratably, to pay any Lender Group Expenses (including cost or expense reimbursements) or indemnities then
due to any of the Lenders under the Loan Documents, until paid in full,

 

(F)             
sixth, ratably, to pay any fees or premiums then due to any of the Lenders under the Loan Documents until paid in
full,

 

(G)            
seventh, to pay interest accrued in respect of the Swing Loans until paid in full,

 

(H)            
eighth, to pay the principal of all Swing Loans until paid in full,

 

(I)               
ninth, ratably, to pay interest accrued in respect of the Revolving Loans (other than Protective Advances and Swing
Loans) and the Term Loan until paid in full,

 

(J)               
tenth, ratably (i) to pay the principal of all Revolving Loans until paid in full, (ii) to Agent, to be
held by Agent, for the benefit of Issuing Bank (and for the ratable benefit of each of the Lenders that have an obligation to pay
to Agent, for the account of Issuing Bank, a share of each Letter of Credit Disbursement), as cash collateral in an amount up to
105% of the Letter of Credit Usage (with a corresponding permanent reduction in the Maximum Revolver Amount) and to the extent
permitted by applicable law, such cash collateral shall be applied to the reimbursement of any Letter of Credit Disbursement as
and when such disbursement occurs and, if a Letter of Credit expires undrawn, the cash collateral held by Agent in respect of such
Letter of Credit shall, to the extent permitted by applicable law, be reapplied pursuant to this Section 2.4(b)(ii),
beginning with tier (A) hereof), (iii) ratably, to the Bank Product Providers based upon amounts then certified by the
applicable Bank Product Provider to Agent (in form and substance satisfactory to Agent) to be due and payable to such Bank
Product Providers on account of Bank Product Obligations, and (iv) to pay the outstanding principal balance of the Term Loan
(in the inverse order of the maturity of the installments due thereunder) until the Term Loan is paid in full,

 

(K)            
eleventh, to pay any other Obligations other than Obligations owed to Defaulting Lenders,

 

(L)             
twelfth, ratably to pay any Obligations owed to Defaulting Lenders; and

 

(M)           
thirteenth, to Borrower (to be wired to the Designated Account) or such other Person entitled thereto under
applicable law.

 

(iii)           
Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in
writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided in Section 2.3(e).

 

    -14- 

     

    

 

(iv)            
In each instance, so long as no Application Event has occurred and is continuing, Section 2.4(b)(i) shall
not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then
due and payable (or prepayable) under any provision of this Agreement or any other Loan Document.

 

(v)              For purposes of Section 2.4(b)(ii), "paid in full" of a type of Obligation means payment in
cash or immediately available funds of all amounts owing on account of such type of Obligation, including interest accrued after
the commencement of any Insolvency Proceeding, default interest, interest on interest, and expense reimbursements, irrespective
of whether any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding.

 

(vi)            
In the event of a direct conflict between the priority provisions of this Section 2.4 and any other provision
contained in this Agreement or any other Loan Document, it is the intention of the parties hereto that such provisions be read
together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable
conflict that cannot be resolved as aforesaid, if the conflict relates to the provisions of Section 2.3(g) and
this Section 2.4, then the provisions of Section 2.3(g) shall control and govern, and if otherwise,
then the terms and provisions of this Section 2.4 shall control and govern.

 

(c)              
Reduction of Commitments.

 

(i)                
Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver
Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the
principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower under Section 2.3(a),
plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a).
Each such reduction shall be in an amount which is not less than $500,000 (unless the Revolver Commitments are being reduced to
zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,000), shall be
made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver
Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each
Lender proportionately in accordance with its ratable share thereof. In connection with any reduction in the Revolver Commitments
prior to the Maturity Date, if any Loan Party or any of its Subsidiaries owns any Margin Stock, Borrower shall deliver to Agent
an updated Form U-1 (with sufficient additional originals thereof for each Lender), duly executed and delivered by the Borrower,
together with such other documentation as Agent shall reasonably request, in order to enable Agent and the Lenders to comply with
any of the requirements under Regulations T, U or X of the Board of Governors.

 

(ii)             
Term Loan Commitments. The Term Loan Commitments shall terminate upon the making of the Term Loans on the Closing
Date.

 

    -15- 

     

    

 

(d)              
Optional Prepayments.

 

(i)                Revolving Loans. Borrower may prepay the principal of any Revolving Loan at any time in whole or in part, without
premium or penalty (except in connection with Section 2.4(c)(i)).

 

(ii)             
Term Loan. Borrower may, upon at least 10 Business Days prior written notice to Agent, prepay the principal of the
Term Loan, in whole or in part. Each prepayment made pursuant to this Section 2.4(d)(ii) shall be accompanied
by the payment of accrued interest to the date of such payment on the amount prepaid and any amounts due under the Fee Letter.
Each such prepayment shall be applied against the remaining installments of principal due on the Term Loan on a pro rata basis
(for the avoidance of doubt, any amount that is due and payable on the Maturity Date shall constitute an installment).

 

(e)              
Mandatory Prepayments.

 

(i)                Overadvance. If, at any time, (A) the Revolver Usage on such date exceeds (B) the Maximum Revolver Amount,
then Borrower shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an amount equal
to the amount of such excess.

 

(ii)              Dispositions.
Within 1 Business Day of the date of receipt by Borrower or any of its Subsidiaries of the Net Cash Proceeds of any voluntary
or involuntary sale or disposition by Borrower or any of its Subsidiaries of assets (including casualty losses or
condemnations but excluding sales or dispositions which qualify as Permitted Dispositions under clauses (a), (b), (c), (d),
(e), (j), (k), (l), (m), or (n) of the definition of Permitted Dispositions), Borrower shall prepay the
outstanding principal amount of the Obligations in accordance with Section 2.4(f)(ii) in an amount equal to
100% of such Net Cash Proceeds (including condemnation awards and payments in lieu thereof) received by such Person in
connection with such sales or dispositions; provided that, so long as (A) no Default or Event of Default shall
have occurred and is continuing or would result therefrom, (B) Borrower shall have given Agent prior written notice of
Borrower's intention to apply such monies to the costs of replacement of the properties or assets that are the subject of
such sale or disposition or the cost of purchase or construction of other assets useful in the business of Borrower or its
Subsidiaries, (C) the monies are held in a Deposit Account in which Agent has a perfected first-priority security
interest, and (D) Borrower or its Subsidiaries, as applicable, complete such replacement, purchase, or construction
within 180 days after the initial receipt of such monies, then the Loan Party whose assets were the subject of such
disposition shall have the option to apply such monies to the costs of replacement of the assets that are the subject of such
sale or disposition unless and to the extent that such applicable period shall have expired without such replacement,
purchase, or construction being made or completed, in which case, any amounts remaining in the Deposit Account referred to in
clause (C) above shall be paid to Agent and applied in accordance with Section 2.4(f)(ii); provided,
that Borrower and its Subsidiaries shall not have the right to use such Net Cash Proceeds to make such
replacements, purchases, or construction in excess of $250,000 in any given fiscal year. Nothing contained in this
Section 2.4(e)(ii) shall permit Borrower or any of its Subsidiaries to sell or otherwise dispose of any
assets other than in accordance with Section 6.4.

 

    -16- 

     

    

 

(iii)           
Extraordinary Receipts. Within 1 Business Day of the date of receipt by Borrower or any of its Subsidiaries of any
Extraordinary Receipts, Borrower shall prepay the outstanding principal amount of the Obligations in accordance with Section 2.4(f)(ii) in
an amount equal to 100% of such Extraordinary Receipts, net of any reasonable expenses incurred in collecting such Extraordinary
Receipts.

 

(iv)            
Indebtedness. Within 1 Business Day of the date of incurrence by Borrower or any of its Subsidiaries of any Indebtedness
(other than Permitted Indebtedness), Borrower shall prepay the outstanding principal amount of the Obligations in accordance with
Section 2.4(f)(ii) in an amount equal to 100% of the Net Cash Proceeds received by such Person in connection with
such incurrence. The provisions of this Section 2.4(e)(iv) shall not be deemed to be implied consent to any such
incurrence otherwise prohibited by the terms of this Agreement.

 

(v)              
Equity. Within 1 Business Day of the date of the issuance by Borrower or any of its Subsidiaries of any Equity Interests
(other than (A) in the event that Borrower or any of its Subsidiaries forms any Subsidiary in accordance with the terms hereof,
the issuance by such Subsidiary of Equity Interests to Borrower or such Subsidiary, as applicable, (B) the issuance of Equity
Interests by Borrower to any Person that is an equity holder of Borrower prior to such issuance (a "Subject Holder") so
long as such Subject Holder did not acquire any Equity Interests of Borrower so as to become a Subject Holder concurrently with,
or in contemplation of, the issuance of such Equity Interests to such Subject Holder, (C) the issuance of Equity Interests
of Borrower to directors, officers and employees of Borrower and its Subsidiaries pursuant to employee stock option plans (or
other employee incentive plans or other compensation arrangements) approved by the Board of Directors, (D) [reserved],
(E) the issuance of Equity Interests pursuant to the Specified Equity Issuance, and (F) the issuance of Equity Interests
by a Subsidiary of Borrower to its parent or member in connection with the contribution by such parent or member to such Subsidiary
of the proceeds of an issuance described in clauses (A) – (E) above), Borrower shall prepay the outstanding principal
amount of the Obligations in accordance with Section 2.4(f)(ii) in an amount equal to 50% of the Net Cash Proceeds
received by such Person in connection with such issuance; provided that on or after the date that Borrower has delivered a Compliance
Certificate pursuant to Section 5.1 for the fiscal quarter ending December 31, 2020, (1) if the most recent financial statements
delivered pursuant to Section 5.1 prior to an issuance of Equity Interests demonstrate that the Senior Leverage Ratio of the Loan
Parties and their Subsidiaries as of the end of the applicable Reference Period was less than 2.00 to 1.00 and equal to or greater
than 1.00 to 1.00, such percentage shall be 25% of the Net Cash Proceeds received by such Person in connection with such issuance
and (2) if the most recent financial statements delivered pursuant to Section 5.1 prior to an issuance of Equity Interests demonstrate
that the Senior Leverage Ratio of the Loan Parties and their Subsidiaries as of the end of the applicable Reference Period was
less than 1.00 to 1.00, then no prepayment shall be required. The provisions of this Section 2.4(e)(v) shall
not be deemed to be implied consent to any such issuance otherwise prohibited by the terms of this Agreement.

 

    -17- 

     

    

 

(vi)            
Excess Cash Flow. Beginning with the fiscal year ending December 31, 2020, within 10 days of delivery to
Agent of audited annual financial statements pursuant to Section 5.1, or, if such financial statements are not delivered
to Agent on the date such statements are required to be delivered pursuant to Section 5.1, within 10 days after the
date such statements were required to be delivered to Agent pursuant to Section 5.1, Borrower shall (A) if such financial
statements demonstrate that the Senior Leverage Ratio of the Loan Parties and their Subsidiaries as of the end of such fiscal year
was equal to or greater than 2.00 to 1.00, prepay the outstanding principal amount of the Obligations in accordance with Section 2.4(f)(ii) in
an amount equal to 50% of the Excess Cash Flow of Borrower and its Subsidiaries for such fiscal year, (B) if such financial statements
demonstrate that the Senior Leverage Ratio of the Loan Parties and their Subsidiaries as of the end of such fiscal year was less
than 2.00 to 1.00 and equal to or greater than 1.00 to 1.00, prepay the outstanding principal amount of the Obligations in accordance
with Section 2.4(f)(ii) in an amount equal to 25% of the Excess Cash Flow of Borrower and its Subsidiaries for
such fiscal year, and (C) if such financial statements demonstrate that the Senior Leverage Ratio of the Loan Parties and their
Subsidiaries as of the end of such fiscal year was 1.00 to 1.00 or less, then no prepayment shall be required; provided,
that any Excess Cash Flow payment made pursuant to this Section 2.4(e)(vi)  shall exclude the portion of Excess
Cash Flow that is attributable to the target of a Permitted Acquisition and that accrued prior to the closing date of such Permitted
Acquisition.

 

(f)               
Application of Payments.

 

(i)                
Each prepayment pursuant to Section 2.4(e)(i) shall, (A) so long as no Application Event shall have
occurred and be continuing, be applied, first, to the outstanding principal amount of the Revolving Loans until paid in
full, second, to cash collateralize the Letters of Credit in an amount equal to 105% of the then outstanding Letter of Credit
Usage, and third, to the outstanding principal amount of the Term Loan until paid in full, and (B) if an Application
Event shall have occurred and be continuing, be applied in the manner set forth in Section 2.4(b)(ii). Each such prepayment
of the Term Loan shall be applied against the remaining installments of principal of the Term Loan in the inverse order of maturity
(for the avoidance of doubt, any amount that is due and payable on the Maturity Date shall constitute an installment).

 

(ii)              Each
prepayment pursuant to Section 2.4(e)(ii), 2.4(e)(iii), 2.4(e)(iv), 2.4(e)(v) or 2.4(e)(vi) shall
(A) so long as no Application Event shall have occurred and be continuing, be applied, first, to the outstanding
principal amount of the Term Loan until paid in full, second, to the outstanding principal amount of the Revolving
Loans (with a corresponding permanent reduction in the Maximum Revolver Amount), until paid in full, and third, to
cash collateralize the Letters of Credit in an amount equal to 105% of the then outstanding Letter of Credit Usage (with
a corresponding permanent reduction in the Maximum Revolver Amount), and (B) if an Application Event shall have occurred
and be continuing, be applied in the manner set forth in Section 2.4(b)(ii). Each such prepayment of the Term
Loan shall be applied against the remaining installments of principal of the Term Loan in the inverse order of maturity (for
the avoidance of doubt, any amount that is due and payable on the Maturity Date shall constitute an installment).

 

    -18- 

     

    

 

2.5.           
Promise to Pay; Promissory Notes.

 

(a)              
Borrower agrees to pay the Lender Group Expenses on the earlier of (i) the first day of the month following the date
on which the applicable Lender Group Expenses were first incurred or (ii) the date on which demand therefor is made by Agent
(it being acknowledged and agreed that any charging of such costs, expenses or Lender Group Expenses to the Loan Account pursuant
to the provisions of Section 2.6(d) shall be deemed to constitute a demand for payment thereof for the purposes
of this subclause (ii)). Borrower promises to pay all of the Obligations (including principal, interest, premiums, if any, fees,
costs, and expenses (including Lender Group Expenses)) in full on the Maturity Date or, if earlier, on the date on which the
Obligations (other than the Bank Product Obligations) become due and payable pursuant to the terms of this Agreement. Borrower
agrees that its obligations contained in the first sentence of this Section 2.5(a) shall survive payment or satisfaction
in full of all other Obligations.

 

(b)              
Any Lender may request that any portion of its Commitments or the Loans made by it be evidenced by one or more promissory
notes. In such event, Borrower shall execute and deliver to such Lender the requested promissory notes payable to the order of
such Lender in a form furnished by Agent and reasonably satisfactory to Borrower. Thereafter, the portion of the Commitments and
Loans evidenced by such promissory notes and interest thereon shall at all times be represented by one or more promissory notes
in such form payable to the order of the payee named therein.

 

2.6.           
Interest Rates and Letter of Credit Fee: Rates, Payments, and Calculations.

 

(a)              
Interest Rates. Except as provided in Section 2.6(c), all Obligations (except for undrawn Letters of
Credit) shall bear interest as follows:

 

(A)            
if the relevant Obligation is a LIBOR Rate Loan, at a per annum rate equal to the LIBOR Rate plus the LIBOR Rate Margin,
and

 

(ii)             
otherwise, at a per annum rate equal to the Base Rate plus the Base Rate Margin.

 

(b)              
Letter of Credit Fee. Borrower shall pay Agent (for the ratable benefit of the Revolving Lenders), a Letter of Credit
fee (the "Letter of Credit Fee") (which fee shall be in addition to the fronting fees and commissions, other
fees, charges and expenses set forth in Section 2.11(k)) that shall accrue at a per annum rate equal to
the LIBOR Rate Margin times the undrawn amount of all outstanding Letters of Credit.

 

    -19- 

     

    

 

(c)              
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent
or the Required Lenders,

 

(i)                
all Obligations (except for undrawn Letters of Credit) shall bear interest at a per annum rate equal to 2 percentage
points above the per annum rate otherwise applicable thereunder, and

 

(ii)             
the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable
hereunder.

 

(d)              
Payment. Except to the extent provided to the contrary in Section 2.10, Section 2.11(k) or Section
2.12(a), (i) all interest and all other fees payable hereunder or under any of the other Loan Documents (other than Letter
of Credit Fees) shall be due and payable, in arrears, on the first day of each month, (ii) all Letter of Credit Fees payable hereunder,
and all fronting fees and all commissions, other fees, charges and expenses provided for in Section 2.11(k) shall be due
and payable, in arrears, on the first Business Day of each month, and (iii) all costs and expenses payable hereunder or under any
of the other Loan Documents, and all other Lender Group Expenses shall be due and payable on (x) with respect to Lender Group
Expenses outstanding as of the Closing Date, the Closing Date, and (y) otherwise, the earlier of (A) the first day of the
month following the date on which the applicable costs, expenses, or Lender Group Expenses were first incurred, or (B) the date
on which demand therefor is made by Agent (it being acknowledged and agreed that any charging of such costs, expenses or Lender
Group Expenses to the Loan Account pursuant to the provisions of the following sentence shall be deemed to constitute a demand
for payment thereof for the purposes of this subclause (y)). Borrower hereby authorizes Agent, from time to time without prior
notice to Borrower, to charge to the Loan Account (A) on the first day of each month, all interest accrued during the prior month
on the Revolving Loans or the Term Loan hereunder, (B) on the first Business Day of each month, all Letter of Credit Fees accrued
or chargeable hereunder during the prior month, (C) as and when incurred or accrued, all fees and costs provided for in Section
2.10(a) or (c), (D) on the first day of each month, the Unused Line Fee accrued during the prior month pursuant to Section
2.10(b), (E) as and when due and payable, all other fees payable hereunder or under any of the other Loan Documents, (F) on
the Closing Date and thereafter as and when incurred or accrued, all other Lender Group Expenses, and (G) as and when due and payable
all other payment obligations payable under any Loan Document or any Bank Product Agreement (including any amounts due and payable
to the Bank Product Providers in respect of Bank Products). All amounts (including interest, fees, costs, expenses, Lender Group
Expenses, or other amounts payable hereunder or under any other Loan Document or under any Bank Product Agreement) charged to the
Loan Account shall thereupon constitute Revolving Loans hereunder, shall constitute Obligations hereunder, and shall initially
accrue interest at the rate then applicable to Revolving Loans that are Base Rate Loans (unless and until converted into LIBOR
Rate Loans in accordance with the terms of this Agreement).

 

(e)               Computation.
All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360 day year, in each case, for
the actual number of days elapsed in the period during which the interest or fees accrue. In the event the Base Rate is
changed from time to time hereafter, the rates of interest hereunder based upon the Base Rate automatically and immediately
shall be increased or decreased by an amount equal to such change in the Base Rate.

 

    -20- 

     

    

 

(f)               
Intent to Limit Charges to Maximum Lawful Rate. In no event shall the interest rate or rates payable under this Agreement,
plus any other amounts paid in connection herewith, exceed the highest rate permissible under any law that a court of competent
jurisdiction shall, in a final determination, deem applicable. Borrower and the Lender Group, in executing and delivering this
Agreement, intend legally to agree upon the rate or rates of interest and manner of payment stated within it; provided,
that, anything contained herein to the contrary notwithstanding, if such rate or rates of interest or manner of payment exceeds
the maximum allowable under applicable law, then, ipso facto, as of the date of this Agreement, Borrower is and shall be
liable only for the payment of such maximum amount as is allowed by law, and payment received from Borrower in excess of such legal
maximum, whenever received, shall be applied to reduce the principal balance of the Obligations to the extent of such excess.

 

2.7.           
Crediting Payments. The receipt of any payment item by Agent shall not be required to be considered a payment on
account unless such payment item is a wire transfer of immediately available federal funds made to Agent's Account or unless and
until such payment item is honored when presented for payment. Should any payment item not be honored when presented for payment,
then Borrower shall be deemed not to have made such payment. Anything to the contrary contained herein notwithstanding, any payment
item shall be deemed received by Agent only if it is received into Agent's Account on a Business Day on or before 1:30 p.m. If
any payment item is received into Agent's Account on a non-Business Day or after 1:30 p.m. on a Business Day (unless Agent, in
its sole discretion, elects to credit it on the date received), it shall be deemed to have been received by Agent as of the opening
of business on the immediately following Business Day.

 

2.8.           
Designated Account. Agent is authorized to make the Revolving Loans and the Term Loans, and Issuing Bank is authorized
to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting
to be an Authorized Person or, without instructions, if pursuant to Section 2.6(d). Borrower agrees to establish and
maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Revolving Loans
requested by Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Borrower, any Revolving
Loan or Swing Loan requested by Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

 

2.9.            Maintenance
of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of Borrower (the
"Loan Account") on which Borrower will be charged with the Term Loan, all Revolving Loans (including
Protective Advances and Swing Loans) made by Agent, Swing Lender, or the Lenders to Borrower or for Borrower's account,
the Letters of Credit issued or arranged by Issuing Bank for Borrower's account, and with all other payment
Obligations hereunder or under the other Loan Documents, including, accrued interest, fees and expenses, and Lender Group
Expenses. In accordance with Section 2.7, the Loan Account will be credited with all payments received by Agent
from Borrower or for Borrower's account. Agent shall make available to Borrower monthly statements regarding the Loan
Account, including the principal amount of the Term Loan and the Revolving Loans, interest accrued hereunder, fees
accrued or charged hereunder or under the other Loan Documents, and a summary itemization of all charges and expenses
constituting Lender Group Expenses accrued hereunder or under the other Loan Documents, and each such statement, absent
manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower
and the Lender Group unless, within 30 days after Agent first makes such a statement available to Borrower, Borrower shall
deliver to Agent written objection thereto describing the error or errors contained in such statement.

 

    -21-

     

    

 

2.10.       
Fees.

 

(a)              
Agent Fees. Borrower shall pay to Agent, for the account of Agent, as and when due and payable under the terms of
the Fee Letter, the fees set forth in the Fee Letter.

 

(b)              
Unused Line Fee. Borrower shall pay to Agent, for the ratable account of the Revolving Lenders, an unused line fee
(the "Unused Line Fee") in an amount equal to 0.50% per annum times the result of (i) the aggregate
amount of the Revolver Commitments, less (ii) the average amount of the Revolver Usage during the immediately preceding month
(or portion thereof), which Unused Line Fee shall be due and payable, in arrears, on the first day of each month from and after
the Closing Date up to the first day of the month prior to the date on which the Obligations are paid in full and on the date on
which the Obligations are paid in full.

 

(c)              
Financial Examination and Other Fees. Borrower shall pay to Agent, financial examination, appraisal, and valuation
fees and charges, as and when incurred or chargeable, as follows (i) a fee of $1,000 per day, per examiner, plus out-of-pocket
expenses (including travel, meals, and lodging) for each financial examination of Borrower performed by personnel employed
by Agent, and (ii) the fees or charges paid or incurred by Agent (but, in any event, no less than a charge of $1,000 per day,
per Person, plus out-of-pocket expenses (including travel, meals, and lodging)) if it elects to employ the services of one
or more third Persons to perform financial examinations of Borrower or its Subsidiaries or to assess Borrower's or its Subsidiaries'
business/recurring revenue valuation; provided, that so long as no Default or Event of Default shall have occurred and be
continuing, Agent shall not conduct more than: (x) for the first 12 months following the Closing Date, 2 financial examinations
and 1 business/recurring revenue valuation and (y) for each succeeding 12 month period thereafter, 1 financial examination
and 1 business/recurring revenue valuation.

 

    -22-

     

    

 

2.11.       
Letters of Credit.

 

(a)               Subject
to the terms and conditions of this Agreement, upon the request of Borrower made in accordance herewith, and prior to the
Maturity Date, Issuing Bank agrees to issue a requested standby Letter of Credit or a sight commercial Letter of Credit for
the account of Borrower. By submitting a request to Issuing Bank for the issuance of a Letter of Credit, Borrower shall
be deemed to have requested that Issuing Bank issue the requested Letter of Credit. Each request for the issuance of a Letter
of Credit, or the amendment, renewal, or extension of any outstanding Letter of Credit, shall be (i) irrevocable and made in
writing by an Authorized Person, (ii) delivered to Agent and Issuing Bank via telefacsimile or other electronic method of
transmission reasonably acceptable to Agent and Issuing Bank and reasonably in advance of the requested date of issuance,
amendment, renewal, or extension, and (iii) subject to Issuing Bank's authentication procedures with results satisfactory to
Issuing Bank. Each such request shall be in form and substance reasonably satisfactory to Agent and Issuing Bank and (i)
shall specify (A) the amount of such Letter of Credit, (B) the date of issuance, amendment, renewal, or extension of such
Letter of Credit, (C) the proposed expiration date of such Letter of Credit, (D) the name and address of the beneficiary of
the Letter of Credit, and (E) such other information (including, the conditions to drawing, and, in the case of an amendment,
renewal, or extension, identification of the Letter of Credit to be so amended, renewed, or extended) as shall be necessary
to prepare, amend, renew, or extend such Letter of Credit, and (ii) shall be accompanied by such Issuer Documents as Agent or
Issuing Bank may request or require, to the extent that such requests or requirements are consistent with the Issuer
Documents that Issuing Bank generally requests for Letters of Credit in similar circumstances. Issuing Bank's records of the
content of any such request will be conclusive. Anything contained herein to the contrary notwithstanding, Issuing Bank may,
but shall not be obligated to, issue a Letter of Credit that supports the obligations of Borrower or its Subsidiaries in
respect of (x) a lease of real property, or (y) an employment contract.

 

(b)              
Issuing Bank shall have no obligation to issue a Letter of Credit if any of the following would result after giving effect
to the requested issuance:

 

(i)                the Letter of Credit Usage would exceed $250,000, or

 

(ii)             
the Letter of Credit Usage would exceed the Maximum Revolver Amount less the outstanding amount of Revolving Loans (including
Swing Loans).

 

(c)              
In the event there is a Defaulting Lender as of the date of any request for the issuance of a Letter of Credit, the Issuing
Bank shall not be required to issue or arrange for such Letter of Credit to the extent (i) the Defaulting Lender's Letter
of Credit Exposure with respect to such Letter of Credit may not be reallocated pursuant to Section 2.3(g)(ii), or
(ii) the Issuing Bank has not otherwise entered into arrangements reasonably satisfactory to it and Borrower to eliminate
the Issuing Bank's risk with respect to the participation in such Letter of Credit of the Defaulting Lender, which arrangements
may include Borrower cash collateralizing such Defaulting Lender's Letter of Credit Exposure in accordance with Section 2.3(g)(ii).
Additionally, Issuing Bank shall have no obligation to issue or extend a Letter of Credit if (A) any order, judgment, or decree
of any Governmental Authority or arbitrator shall, by its terms, purport to enjoin or restrain Issuing Bank from issuing such Letter
of Credit, or any law applicable to Issuing Bank or any request or directive (whether or not having the force of law) from
any Governmental Authority with jurisdiction over Issuing Bank shall prohibit or request that Issuing Bank refrain from the issuance
of letters of credit generally or such Letter of Credit in particular, (B) the issuance of such Letter of Credit would violate
one or more policies of Issuing Bank applicable to letters of credit generally, or (C) if amounts demanded to be paid under
any Letter of Credit will not or may not be in United States Dollars.

 

    -23-

     

    

 

(d)               Any
Issuing Bank (other than Wells Fargo or any of its Affiliates) shall notify Agent in writing no later than the Business Day
prior to the Business Day on which such Issuing Bank issues any Letter of Credit. In addition, each Issuing Bank (other
than Wells Fargo or any of its Affiliates) shall, on the first Business Day of each week, submit to Agent a report detailing
the daily undrawn amount of each Letter of Credit issued by such Issuing Bank during the prior calendar week. Each
Letter of Credit shall be in form and substance reasonably acceptable to Issuing Bank, including the requirement that the
amounts payable thereunder must be payable in Dollars. If Issuing Bank makes a payment under a Letter of Credit, Borrower
shall pay to Agent an amount equal to the applicable Letter of Credit Disbursement on the Business Day such Letter of Credit
Disbursement is made and, in the absence of such payment, the amount of the Letter of Credit Disbursement immediately and
automatically shall be deemed to be a Revolving Loan hereunder (notwithstanding any failure to satisfy any condition
precedent set forth in Section 3) and, initially, shall bear interest at the rate then applicable to
Revolving Loans that are Base Rate Loans. If a Letter of Credit Disbursement is deemed to be a Revolving Loan hereunder,
Borrower's obligation to pay the amount of such Letter of Credit Disbursement to Issuing Bank shall be automatically
converted into an obligation to pay the resulting Revolving Loan. Promptly following receipt by Agent of any payment from
Borrower pursuant to this paragraph, Agent shall distribute such payment to Issuing Bank or, to the extent that Revolving
Lenders have made payments pursuant to Section 2.11(e) to reimburse Issuing Bank, then to such Revolving
Lenders and Issuing Bank as their interests may appear.

 

(e)              
Promptly following receipt of a notice of a Letter of Credit Disbursement pursuant to Section 2.11(d), each
Revolving Lender agrees to fund its Pro Rata Share of any Revolving Loan deemed made pursuant to Section 2.11(d) on
the same terms and conditions as if Borrower had requested the amount thereof as a Revolving Loan and Agent shall promptly pay
to Issuing Bank the amounts so received by it from the Revolving Lenders. By the issuance of a Letter of Credit (or an amendment,
renewal, or extension of a Letter of Credit) and without any further action on the part of Issuing Bank or the Revolving Lenders,
Issuing Bank shall be deemed to have granted to each Revolving Lender, and each Revolving Lender shall be deemed to have purchased,
a participation in each Letter of Credit issued by Issuing Bank, in an amount equal to its Pro Rata Share of such Letter of Credit,
and each such Revolving Lender agrees to pay to Agent, for the account of Issuing Bank, such Revolving Lender's Pro Rata Share
of any Letter of Credit Disbursement made by Issuing Bank under the applicable Letter of Credit. In consideration and in furtherance
of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to Agent, for the account of Issuing
Bank, such Revolving Lender's Pro Rata Share of each Letter of Credit Disbursement made by Issuing Bank and not reimbursed by Borrower
on the date due as provided in Section 2.11(d), or of any reimbursement payment that is required to be refunded (or
that Agent or Issuing Bank elects, based upon the advice of counsel, to refund) to Borrower for any reason. Each Revolving
Lender acknowledges and agrees that its obligation to deliver to Agent, for the account of Issuing Bank, an amount equal to its
respective Pro Rata Share of each Letter of Credit Disbursement pursuant to this Section 2.11(e) shall be absolute
and unconditional and such remittance shall be made notwithstanding the occurrence or continuation of an Event of Default or Default
or the failure to satisfy any condition set forth in Section 3. If any such Revolving Lender fails to make available
to Agent the amount of such Revolving Lender's Pro Rata Share of a Letter of Credit Disbursement as provided in this Section, such
Revolving Lender shall be deemed to be a Defaulting Lender and Agent (for the account of Issuing Bank) shall be entitled to
recover such amount on demand from such Revolving Lender together with interest thereon at the Defaulting Lender Rate until paid
in full.

 

    -24-

     

    

 

(f)                Borrower
agrees to indemnify, defend and hold harmless each member of the Lender Group (including Issuing Bank and its branches,
Affiliates, and correspondents) and each such Person's respective directors, officers, employees, attorneys and
agents (each, including Issuing Bank, a "Letter of Credit Related Person") (to the fullest extent
permitted by law) from and against any and all claims, demands, suits, actions, investigations, proceedings,
liabilities, fines, costs, penalties, and damages, and all reasonable fees and disbursements of attorneys, experts, or
consultants and all other costs and expenses actually incurred in connection therewith or in connection with the enforcement
of this indemnification (as and when they are incurred and irrespective of whether suit is brought), which may be incurred by
or awarded against any such Letter of Credit Related Person (other than Taxes, which shall be governed by Section 16) (the
"Letter of Credit Indemnified Costs"), and which arise out of or in connection with, or as a result of:

 

(i)                
any Letter of Credit or any pre-advice of its issuance;

 

(ii)               
any transfer, sale, delivery, surrender or endorsement (or lack thereof) of any Drawing Document at any time(s) held
by any such Letter of Credit Related Person in connection with any Letter of Credit;

 

(iii)              
any action or proceeding arising out of, or in connection with, any Letter of Credit (whether administrative, judicial or
in connection with arbitration), including any action or proceeding to compel or restrain any presentation or payment under any
Letter of Credit, or for the wrongful dishonor of, or honoring a presentation under, any Letter of Credit;

 

(iv)              
any independent undertakings issued by the beneficiary of any Letter of Credit;

 

(v)               
any unauthorized instruction or request made to Issuing Bank in connection with any Letter of Credit or requested Letter
of Credit, or any error, omission, interruption or delay in such instruction or request, whether transmitted by mail, courier,
electronic transmission, SWIFT, or any other telecommunication including communications through a correspondent;

 

(vi)              
an adviser, confirmer or other nominated person seeking to be reimbursed, indemnified or compensated;

 

(vii)             
any third party seeking to enforce the rights of an applicant, beneficiary, nominated person, transferee, assignee of Letter
of Credit proceeds or holder of an instrument or document;

 

(viii)            
the fraud, forgery or illegal action of parties other than the Letter of Credit Related Person;

 

(ix)              
any prohibition on payment or delay in payment of any amount payable by Issuing Bank to a beneficiary or transferee beneficiary
of a Letter of Credit arising out of Anti-Corruption Laws, Anti-Money Laundering Laws, or Sanctions;

 

(x)              
Issuing Bank's performance of the obligations of a confirming institution or entity that wrongfully dishonors a confirmation;
or

 

    -25-

     

    

 

(xi)              
any foreign language translation provided to Issuing Bank in connection with any Letter of Credit;

 

(xii)             
any foreign law or usage as it relates to Issuing Bank's issuance of a Letter of Credit in support of a foreign guaranty
including the expiration of such guaranty after the related Letter of Credit expiration date and any resulting drawing paid by
Issuing Bank in connection therewith; or

 

(xiii)            
the acts or omissions, whether rightful or wrongful, of any present or future de jure or de facto governmental or regulatory
authority or cause or event beyond the control of the Letter of Credit Related Person;

 

; provided, that such indemnity
shall not be available to any Letter of Credit Related Person claiming indemnification under clauses (i) through (xiii) above
to the extent that such Letter of Credit Indemnified Costs may be finally determined in a final, non-appealable judgment of a court
of competent jurisdiction to have resulted directly from the gross negligence or willful misconduct of the Letter of Credit Related
Person claiming indemnity. Borrower hereby agrees to pay the Letter of Credit Related Person claiming indemnity on demand from
time to time all amounts owing under this Section 2.11(f). If and to the extent that the obligations of Borrower under
this Section 2.11(f) are unenforceable for any reason, Borrower agrees to make the maximum contribution to the
Letter of Credit Indemnified Costs permissible under applicable law. This indemnification provision shall survive termination of
this Agreement and all Letters of Credit.

 

(g)              
The liability of Issuing Bank (or any other Letter of Credit Related Person) under, in connection with or arising out
of any Letter of Credit (or pre-advice), regardless of the form or legal grounds of the action or proceeding, shall be limited
to direct damages suffered by Borrower that are caused directly by Issuing Bank's gross negligence or willful misconduct in (i) honoring
a presentation under a Letter of Credit that on its face does not at least substantially comply with the terms and conditions of
such Letter of Credit, (ii) failing to honor a presentation under a Letter of Credit that strictly complies with the terms
and conditions of such Letter of Credit or (iii) retaining Drawing Documents presented under a Letter of Credit. Issuing Bank
shall be deemed to have acted with due diligence and reasonable care if Issuing Bank's conduct is in accordance with Standard Letter
of Credit Practice or in accordance with this Agreement. Borrower's aggregate remedies against Issuing Bank and any Letter of Credit
Related Person for wrongfully honoring a presentation under any Letter of Credit or wrongfully retaining honored Drawing Documents
shall in no event exceed the aggregate amount paid by Borrower to Issuing Bank in respect of the honored presentation in connection
with such Letter of Credit under Section 2.11(d), plus interest at the rate then applicable to Base Rate Loans hereunder.
Borrower shall take action to avoid and mitigate the amount of any damages claimed against Issuing Bank or any other Letter of
Credit Related Person, including by enforcing its rights against the beneficiaries of the Letters of Credit. Any claim by Borrower
under or in connection with any Letter of Credit shall be reduced by an amount equal to the sum of (x) the amount (if any) saved
by Borrower as a result of the breach or alleged wrongful conduct complained of; and (y) the amount (if any) of the loss
that would have been avoided had Borrower taken all reasonable steps to mitigate any loss, and in case of a claim of wrongful dishonor,
by specifically and timely authorizing Issuing Bank to effect a cure.

 

    -26-

     

    

 

(h)              
Borrower is responsible for the final text of the Letter of Credit as issued by Issuing Bank, irrespective of any assistance
Issuing Bank may provide such as drafting or recommending text or by Issuing Bank's use or refusal to use text submitted by Borrower.
Borrower understands that the final form of any Letter of Credit may be subject to such revisions and changes as are deemed necessary
or appropriate by Issuing Bank, and Borrower hereby consents to such revisions and changes not materially different from the application
executed in connection therewith. Borrower is solely responsible for the suitability of the Letter of Credit for Borrower's purposes.
If Borrower requests Issuing Bank to issue a Letter of Credit for an affiliated or unaffiliated third party (an "Account
Party"), (i) such Account Party shall have no rights against Issuing Bank; (ii) Borrower shall be responsible for the
application and obligations under this Agreement; and (iii) communications (including notices) related to the respective Letter
of Credit shall be among Issuing Bank and Borrower. Borrower will examine the copy of the Letter of Credit and any other documents
sent by Issuing Bank in connection therewith and shall promptly notify Issuing Bank (not later than three (3) Business Days following
Borrower's receipt of documents from Issuing Bank) of any non-compliance with Borrower's instructions and of any discrepancy in
any document under any presentment or other irregularity. Borrower understands and agrees that Issuing Bank is not required to
extend the expiration date of any Letter of Credit for any reason. With respect to any Letter of Credit containing an "automatic
amendment" to extend the expiration date of such Letter of Credit, Issuing Bank, in its sole and absolute discretion, may
give notice of nonrenewal of such Letter of Credit and, if Borrower does not at any time want the then current expiration date
of such Letter of Credit to be extended, Borrower will so notify Agent and Issuing Bank at least 30 calendar days before Issuing
Bank is required to notify the beneficiary of such Letter of Credit or any advising bank of such non-extension pursuant to the
terms of such Letter of Credit.

 

(i)                
Borrower's reimbursement and payment obligations under this Section 2.11 are absolute, unconditional and irrevocable
and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever, including:

 

(i)                
any lack of validity, enforceability or legal effect of any Letter of Credit, any Issuer Document, this Agreement, or any
Loan Document, or any term or provision therein or herein;

 

(ii)              
payment against presentation of any draft, demand or claim for payment under any Drawing Document that does not comply in
whole or in part with the terms of the applicable Letter of Credit or which proves to be fraudulent, forged or invalid in any respect
or any statement therein being untrue or inaccurate in any respect, or which is signed, issued or presented by a Person or a transferee
of such Person purporting to be a successor or transferee of the beneficiary of such Letter of Credit;

 

(iii)              
Issuing Bank or any of its branches or Affiliates being the beneficiary of any Letter of Credit;

 

(iv)              Issuing
Bank or any correspondent honoring a drawing against a Drawing Document up to the amount available under any Letter of Credit
even if such Drawing Document claims an amount in excess of the amount available under the Letter of Credit;

 

    -27-

     

    

 

(v)              
the existence of any claim, set-off, defense or other right that Borrower or any other Person may have at any time against
any beneficiary or transferee beneficiary, any assignee of proceeds, Issuing Bank or any other Person;

 

(vi)             
Issuing Bank or any correspondent honoring a drawing upon receipt of an electronic presentation under a Letter of Credit
requiring the same, regardless of whether the original Drawing Documents arrive at Issuing Bank's counters or are different from
the electronic presentation;

 

(vii)            
any other event, circumstance or conduct whatsoever, whether or not similar to any of the foregoing that might, but for
this Section 2.11(i), constitute a legal or equitable defense to or discharge of, or provide a right of set-off against,
Borrower's or any of its Subsidiaries' reimbursement and other payment obligations and liabilities, arising under, or in connection
with, any Letter of Credit, whether against Issuing Bank, the beneficiary or any other Person; or

 

(viii)           
the fact that any Default or Event of Default shall have occurred and be continuing;

 

provided, however, that subject
to Section 2.11(g) above, the foregoing shall not release Issuing Bank from such liability to Borrower as may
be finally determined in a final, non-appealable judgment of a court of competent jurisdiction against Issuing Bank following reimbursement
or payment of the obligations and liabilities, including reimbursement and other payment obligations, of Borrower to Issuing Bank
arising under, or in connection with, this Section 2.11 or any Letter of Credit.

 

(j)                
Without limiting any other provision of this Agreement, Issuing Bank and each other Letter of Credit Related Person (if
applicable) shall not be responsible to Borrower for, and Issuing Bank's rights and remedies against Borrower and the obligation
of Borrower to reimburse Issuing Bank for each drawing under each Letter of Credit shall not be impaired by:

 

(i)                
honor of a presentation under any Letter of Credit that on its face substantially complies with the terms and conditions
of such Letter of Credit, even if the Letter of Credit requires strict compliance by the beneficiary;

 

(ii)              
honor of a presentation of any Drawing Document that appears on its face to have been signed, presented or issued (A) by
any purported successor or transferee of any beneficiary or other Person required to sign, present or issue such Drawing Document
or (B) under a new name of the beneficiary;

 

(iii)           
acceptance as a draft of any written or electronic demand or request for payment under a Letter of Credit, even if nonnegotiable
or not in the form of a draft or notwithstanding any requirement that such draft, demand or request bear any or adequate reference
to the Letter of Credit;

 

    -28-

     

    

 

(iv)             
the identity or authority of any presenter or signer of any Drawing Document or the form, accuracy, genuineness or legal
effect of any Drawing Document (other than Issuing Bank's determination that such Drawing Document appears on its face substantially
to comply with the terms and conditions of the Letter of Credit);

 

(v)               
acting upon any instruction or request relative to a Letter of Credit or requested Letter of Credit that Issuing Bank in
good faith believes to have been given by a Person authorized to give such instruction or request;

 

(vi)             
any errors, omissions, interruptions or delays in transmission or delivery of any message, advice or document (regardless
of how sent or transmitted) or for errors in interpretation of technical terms or in translation or any delay in giving or
failing to give notice to Borrower;

 

(vii)            
any acts, omissions or fraud by, or the insolvency of, any beneficiary, any nominated person or entity or any other Person
or any breach of contract between the beneficiary and Borrower or any of the parties to the underlying transaction to which the
Letter of Credit relates;

 

(viii)           
assertion or waiver of any provision of the ISP or UCP that primarily benefits an issuer of a letter of credit, including
any requirement that any Drawing Document be presented to it at a particular hour or place;

 

(ix)             
payment to any presenting bank (designated or permitted by the terms of the applicable Letter of Credit) claiming that
it rightfully honored or is entitled to reimbursement or indemnity under Standard Letter of Credit Practice applicable to it;

 

(x)              
acting or failing to act as required or permitted under Standard Letter of Credit Practice applicable to where Issuing Bank
has issued, confirmed, advised or negotiated such Letter of Credit, as the case may be;

 

(xi)              
honor of a presentation after the expiration date of any Letter of Credit notwithstanding that a presentation was made prior
to such expiration date and dishonored by Issuing Bank if subsequently Issuing Bank or any court or other finder of fact determines
such presentation should have been honored;

 

(xii)              dishonor of any presentation that does not strictly comply or that is fraudulent, forged or otherwise not entitled to honor;
or

 

(xiii)            
honor of a presentation that is subsequently determined by Issuing Bank to have been made in violation of international,
federal, state or local restrictions on the transaction of business with certain prohibited Persons.

 

(k)               Borrower
shall pay immediately upon demand to Agent for the account of Issuing Bank as non-refundable fees, commissions, and charges
(it being acknowledged and agreed that any charging of such fees, commissions, and charges to the Loan Account pursuant to
the provisions of Section 2.6(d) shall be deemed to constitute a demand for payment thereof for the
purposes of this Section 2.11(k)): (i) a fronting fee which shall be imposed by Issuing Bank upon the
issuance of each Letter of Credit of 0.50% times the average amount of the Letter of Credit Usage during the immediately
preceding month (or portion thereof), plus (ii) any and all other customary commissions, fees and charges
then in effect imposed by, and any and all expenses incurred by, Issuing Bank, or by any adviser, confirming institution or
entity or other nominated person, relating to Letters of Credit, at the time of issuance of any Letter of Credit and upon the
occurrence of any other activity with respect to any Letter of Credit (including transfers, assignments of proceeds,
amendments, drawings, renewals or cancellations).

 

    -29-

     

    

 

(l)                
If by reason of (x) any Change in Law, or (y) compliance by Issuing Bank or any other member of the Lender Group
with any direction, request, or requirement (irrespective of whether having the force of law) of any Governmental Authority
or monetary authority including, Regulation D of the Board of Governors as from time to time in effect (and any successor thereto):

 

(i)                
any reserve, deposit, or similar requirement is or shall be imposed or modified in respect of any Letter of Credit issued
or caused to be issued hereunder or hereby, or any Loans or obligations to make Loans hereunder or hereby, or

 

(ii)              
there shall be imposed on Issuing Bank or any other member of the Lender Group any other condition regarding any Letter
of Credit, Loans, or obligations to make Loans hereunder,

 

and the result of the foregoing is to increase,
directly or indirectly, the cost to Issuing Bank or any other member of the Lender Group of issuing, making, participating in,
or maintaining any Letter of Credit or to reduce the amount receivable in respect thereof, then, and in any such case, Agent may,
at any time within a reasonable period after the additional cost is incurred or the amount received is reduced, notify Borrower,
and Borrower shall pay within 30 days after demand therefor, such amounts as Agent may specify to be necessary to compensate Issuing
Bank or any other member of the Lender Group for such additional cost or reduced receipt, together with interest on such amount
from the date of such demand until payment in full thereof at the rate then applicable to Base Rate Loans hereunder; provided,
that (A) Borrower shall not be required to provide any compensation pursuant to this Section 2.11(l) for
any such amounts incurred more than 180 days prior to the date on which the demand for payment of such amounts is first made to
Borrower, and (B) if an event or circumstance giving rise to such amounts is retroactive, then the 180-day period referred
to above shall be extended to include the period of retroactive effect thereof. The determination by Agent of any amount due pursuant
to this Section 2.11(l), as set forth in a certificate setting forth the calculation thereof in reasonable detail,
shall, in the absence of manifest or demonstrable error, be final and conclusive and binding on all of the parties hereto.

 

(m)             Each
standby Letter of Credit shall expire not later than the date that is 12 months after the date of the issuance of such Letter
of Credit; provided, that any standby Letter of Credit may provide for the automatic extension thereof for any number
of additional periods each of up to one year in duration; provided further, that with respect to any Letter of Credit
which extends beyond the Maturity Date, Letter of Credit Collateralization shall be provided therefor on or before the date
that is five Business Days prior to the Maturity Date. Each commercial Letter of Credit shall expire on the earlier of
(i) 120 days after the date of the issuance of such commercial Letter of Credit and (ii) five Business Days prior to
the Maturity Date.

 

    -30-

     

    

 

(n)              
If any Event of Default shall occur and be continuing, then on the Business Day following the date when the Borrower receives
notice from Agent or the Required Lenders (or, if the maturity of the Obligations has been accelerated, Revolving Lenders with
Letter of Credit Exposure representing greater than 50% of the total Letter Credit Exposure) demanding Letter of Credit Collateralization
pursuant to this Section 2.11(n) upon such demand, Borrower shall provide Letter of Credit Collateralization with respect
to the then existing Letter of Credit Usage. If Borrower fails to provide Letter of Credit Collateralization as required by this
Section 2.11(n), the Revolving Lenders may (and, upon direction of Agent, shall) advance, as Revolving Loans the amount
of the cash collateral required pursuant to the Letter of Credit Collateralization provision so that the then existing Letter of
Credit Usage is cash collateralized in accordance with the Letter of Credit Collateralization provision (whether or not the Revolver
Commitments have terminated, an Overadvance exists or the conditions in Section 3 are satisfied).

 

(o)              
Unless otherwise expressly agreed by Issuing Bank and Borrower when a Letter of Credit is issued, (i) the rules of
the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter
of Credit.

 

(p)              
Issuing Bank shall be deemed to have acted with due diligence and reasonable care if Issuing Bank's conduct is in accordance
with Standard Letter of Credit Practice or in accordance with this Agreement.

 

(q)              
In the event of a direct conflict between the provisions of this Section 2.11 and any provision contained in
any Issuer Document, it is the intention of the parties hereto that such provisions be read together and construed, to the fullest
extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved
as aforesaid, the terms and provisions of this Section 2.11 shall control and govern.

 

(r)               
The provisions of this Section 2.11 shall survive the termination of this Agreement and the repayment in full of
the Obligations with respect to any Letters of Credit that remain outstanding.

 

(s)                At
Borrower's costs and expense, Borrower shall execute and deliver to Issuing Bank such additional certificates,
instruments and/or documents and take such additional action as may be reasonably requested by Issuing Bank to enable Issuing
Bank to issue any Letter of Credit pursuant to this Agreement and related Issuer Document, to protect, exercise and/or
enforce Issuing Banks' rights and interests under this Agreement or to give effect to the terms and provisions of this
Agreement or any Issuer Document. Borrower irrevocably appoints Issuing Bank as its attorney-in-fact and authorizes Issuing
Bank, without notice to Borrower, to execute and deliver ancillary documents and letters customary in the letter of credit
business that may include but are not limited to advisements, indemnities, checks, bills of exchange and issuance documents.
The power of attorney granted by the Borrower is limited solely to such actions related to the issuance, confirmation or
amendment of any Letter of Credit and to ancillary documents or letters customary in the letter of credit business. This
appointment is coupled with an interest.

 

    -31-

     

    

 

2.12.       
LIBOR Option.

 

(a)              
Interest and Interest Payment Dates. In lieu of having interest charged at the rate based upon the Base Rate, Borrower
shall have the option, subject to Section 2.12(b) below (the "LIBOR Option") to have interest
on all or a portion of the Revolving Loans or the Term Loan be charged (whether at the time when made (unless otherwise provided
herein), upon conversion from a Base Rate Loan to a LIBOR Rate Loan, or upon continuation of a LIBOR Rate Loan as a LIBOR Rate
Loan) at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of (i) the
last day of the Interest Period applicable thereto; provided, that, subject to the following clauses (ii) and (iii),
in the case of any Interest Period greater than 3 months in duration, interest shall be payable at 3 month intervals after the
commencement of the applicable Interest Period and on the last day of such Interest Period), (ii) the date on which all or
any portion of the Obligations are accelerated pursuant to the terms hereof, or (iii) the date on which this Agreement is
terminated pursuant to the terms hereof. On the last day of each applicable Interest Period, unless Borrower properly has exercised
the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the
rate of interest then applicable to Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred
and is continuing, Borrower no longer shall have the option to request that Revolving Loans or any portion of the Term Loan bear
interest at a rate based upon the LIBOR Rate.

 

(b)              
LIBOR Election.

 

(i)                
Borrower may, at any time and from time to time, so long as no Event of Default has occurred and is continuing, elect to
exercise the LIBOR Option by notifying Agent prior to 11:00 a.m. at least 1 Business Day prior to the commencement of the proposed
Interest Period (the "LIBOR Deadline"). Notice of Borrower's election of the LIBOR Option for a permitted portion
of the Revolving Loans or the Term Loan and an Interest Period pursuant to this Section shall be made by delivery to Agent
of a LIBOR Notice received by Agent before the LIBOR Deadline. Promptly upon its receipt of each such LIBOR Notice, Agent shall
provide a copy thereof to each of the affected Lenders.

 

(ii)               Each
LIBOR Notice shall be irrevocable and binding on Borrower. In connection with each LIBOR Rate Loan, Borrower shall indemnify,
defend, and hold Agent and the Lenders harmless against any loss, cost, or expense actually incurred by Agent or any Lender
as a result of (A) the payment of any principal of any LIBOR Rate Loan other than on the last day of an Interest
Period applicable thereto (including as a result of an Event of Default), (B) the conversion of any LIBOR Rate Loan
other than on the last day of the Interest Period applicable thereto, or (C) the failure to borrow, convert, continue or
prepay any LIBOR Rate Loan on the date specified in any LIBOR Notice delivered pursuant hereto (such losses, costs, or
expenses, "Funding Losses"). A certificate of Agent or a Lender delivered to Borrower setting forth in
reasonable detail any amount or amounts that Agent or such Lender is entitled to receive pursuant to this Section 2.12
shall be conclusive absent manifest error. Borrower shall pay such amount to Agent or the Lender, as applicable, within 30
days of the date of its receipt of such certificate. If a payment of a LIBOR Rate Loan on a day other than the last day of
the applicable Interest Period would result in a Funding Loss, Agent may, in its sole discretion at the request of Borrower,
hold the amount of such payment as cash collateral in support of the Obligations until the last day of such Interest Period
and apply such amounts to the payment of the applicable LIBOR Rate Loan on such last day, it being agreed that Agent has no
obligation to so defer the application of payments to any LIBOR Rate Loan and that, in the event that Agent does not defer
such application, Borrower shall be obligated to pay any resulting Funding Losses.

 

    -32-

     

    

 

(iii)              
Unless Agent, in its sole discretion, agrees otherwise, Borrower shall have not more than 5 LIBOR Rate Loans in effect at
any given time. Borrower only may exercise the LIBOR Option for proposed LIBOR Rate Loans of at least $500,000.

 

(c)              
Conversion. Borrower may convert LIBOR Rate Loans to Base Rate Loans or prepay LIBOR Rate Loans at any time; provided,
that in the event that LIBOR Rate Loans are converted or prepaid on any date that is not the last day of the Interest Period applicable
thereto, including as a result of any prepayment through the required application by Agent of any payments or proceeds of Collateral
in accordance with Section 2.4(b) or for any other reason, including early termination of the term of this Agreement
or acceleration of all or any portion of the Obligations pursuant to the terms hereof, Borrower shall indemnify, defend, and hold
Agent and the Lenders and their Participants harmless against any and all Funding Losses in accordance with Section 2.12
(b)(ii).

 

(d)              
Special Provisions Applicable to LIBOR Rate.

 

(i)                
The LIBOR Rate may be adjusted by Agent with respect to any Lender on a prospective basis to take into account any additional
or increased costs to such Lender of maintaining or obtaining any eurodollar deposits or increased costs, in each case, due to
changes in applicable law occurring subsequent to the commencement of the then applicable Interest Period, including any Changes
in Law and changes in the reserve requirements imposed by the Board of Governors, which additional or increased costs would increase
the cost of funding or maintaining loans bearing interest at the LIBOR Rate. In any such event, the affected Lender shall give
Borrower and Agent notice of such a determination and adjustment and Agent promptly shall transmit the notice to each other Lender
and, upon its receipt of the notice from the affected Lender, Borrower may, by notice to such affected Lender (A) require
such Lender to furnish to Borrower a statement setting forth in reasonable detail the basis for adjusting such LIBOR Rate and the
method for determining the amount of such adjustment, or (B) repay the LIBOR Rate Loans of such Lender with respect to which
such adjustment is made (together with any amounts due under Section 2.12(b)(ii)).

 

(ii)              In
the event that any change in market conditions or any Change in Law shall at any time after the date hereof, in
the reasonable opinion of any Lender, make it unlawful or impractical for such Lender to fund or maintain LIBOR Rate Loans or
to continue such funding or maintaining, or to determine or charge interest rates at the LIBOR Rate, such Lender shall give
notice of such changed circumstances to Agent and Borrower and Agent promptly shall transmit the notice to each other Lender
and (y) in the case of any LIBOR Rate Loans of such Lender that are outstanding, the date specified in such Lender's
notice shall be deemed to be the last day of the Interest Period of such LIBOR Rate Loans, and interest upon the LIBOR Rate
Loans of such Lender thereafter shall accrue interest at the rate then applicable to Base Rate Loans, and (z) Borrower
shall not be entitled to elect the LIBOR Option until such Lender determines that it would no longer be unlawful or
impractical to do so.

 

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(iii)           
Effect of Benchmark Transition Event.

 

(A)            
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence
of a Benchmark Transition Event or an Early Opt-in Election, as applicable, Agent and Borrower may amend this Agreement to replace
the LIBOR Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective
at 5:00 p.m. on the fifth (5th) Business Day after Agent has posted such proposed amendment to all Lenders and Borrower so long
as Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders.
Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required
Lenders have delivered to Agent written notice that such Required Lenders accept such amendment. No replacement of the LIBOR Rate
with a Benchmark Replacement pursuant to this Section 2.12(d)(iii) will occur prior to the applicable Benchmark Transition
Start Date.

 

(B)             
Benchmark Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, Agent
will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary
herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective
without any further action or consent of any other party to this Agreement.

 

(C)              Notices;
Standards for Decisions and Determinations. Agent will promptly notify Borrower and the Lenders of
(1) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark
Replacement Date and Benchmark Transition Start Date, (2) the implementation of any Benchmark Replacement, (3) the
effectiveness of any Benchmark Replacement Conforming Changes, and (4) the commencement or conclusion of any Benchmark
Unavailability Period. Any determination, decision or election that may be made by Agent or Lenders pursuant to this Section
2.12(d)(iii) including any determination with respect to a tenor, rate or adjustment or of the occurrence or
non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action, will be
conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any
other party hereto, except, in each case, as expressly required pursuant to this Section 2.12(d)(iii).

 

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(D)            
Benchmark Unavailability Period. Upon Borrower’s receipt of notice of the commencement of a Benchmark Unavailability
Period, Borrower may revoke any request for a Borrowing of, conversion to or continuation of LIBOR Rate Loans to be made, converted
or continued during any Benchmark Unavailability Period and, failing that, Borrower will be deemed to have converted any such request
into a request for a Borrowing of or conversion to Base Rate Loans. During any Benchmark Unavailability Period, the component of
Base Rate based upon the LIBOR Rate will not be used in any determination of the Base Rate.

 

(e)              
No Requirement of Matched Funding. Anything to the contrary contained herein notwithstanding, neither Agent, nor
any Lender, nor any of their Participants, is required actually to acquire eurodollar deposits to fund or otherwise match fund
any Obligation as to which interest accrues at the LIBOR Rate.

 

2.13.       
Capital Requirements.

 

(a)               If,
after the date hereof, Issuing Bank or any Lender determines that (i) any Change in Law regarding capital, liquidity or
reserve requirements for banks or bank holding companies, or (ii) compliance by Issuing Bank or such Lender, or
their respective parent bank holding companies, with any guideline, request or directive of any Governmental Authority
regarding capital adequacy or liquidity requirements (whether or not having the force of law), has the effect of reducing the
return on Issuing Bank's, such Lender's, or such holding companies' capital or liquidity as a consequence of Issuing Bank's
or such Lender's commitments, Loans, participations or other obligations hereunder to a level below that which Issuing Bank,
such Lender, or such holding companies could have achieved but for such Change in Law or compliance (taking into
consideration Issuing Bank's, such Lender's, or such holding companies' then existing policies with respect to capital
adequacy or liquidity requirements and assuming the full utilization of such entity's capital) by any amount deemed by
Issuing Bank or such Lender to be material, then Issuing Bank or such Lender may notify Borrower and Agent thereof. Following
receipt of such notice, Borrower agrees to pay Issuing Bank or such Lender on demand the amount of such reduction of return
of capital as and when such reduction is determined, payable within 30 days after presentation by Issuing Bank or such Lender
of a statement in the amount and setting forth in reasonable detail Issuing Bank's or such Lender's calculation thereof and
the assumptions upon which such calculation was based (which statement shall be deemed true and correct absent manifest
error). In determining such amount, Issuing Bank or such Lender may use any reasonable averaging and attribution methods.
Failure or delay on the part of Issuing Bank or any Lender to demand compensation pursuant to this Section shall not
constitute a waiver of Issuing Bank's or such Lender's right to demand such compensation; provided that Borrower
shall not be required to compensate Issuing Bank or a Lender pursuant to this Section for any reductions in return
incurred more than 180 days prior to the date that Issuing Bank or such Lender notifies Borrower of such Change in Law giving
rise to such reductions and of such Lender's intention to claim compensation therefor; provided further that if such
claim arises by reason of the Change in Law that is retroactive, then the 180-day period referred to above shall be extended
to include the period of retroactive effect thereof.

 

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(b)              
If Issuing Bank or any Lender requests additional or increased costs referred to in Section 2.11(l) or
Section 2.12(d)(i) or amounts under Section 2.13(a) or sends a notice under Section 2.12(d)(ii) relative
to changed circumstances (such Issuing Bank or Lender, an "Affected Lender"), then, at the request of Borrower,
such Affected Lender shall use reasonable efforts to promptly designate a different one of its lending offices or to assign its
rights and obligations hereunder to another of its offices or branches, if (i) in the reasonable judgment of such Affected
Lender, such designation or assignment would eliminate or reduce amounts payable pursuant to Section 2.11(l), Section 2.12(d)(i) or
Section 2.13(a), as applicable, or would eliminate the illegality or impracticality of funding or maintaining LIBOR
Rate Loans and (ii) in the reasonable judgment of such Affected Lender, such designation or assignment would not subject it
to any material unreimbursed cost or expense and would not otherwise be materially disadvantageous to it. Borrower agrees to pay
all reasonable out-of-pocket costs and expenses incurred by such Affected Lender in connection with any such designation or assignment.
If, after such reasonable efforts, such Affected Lender does not so designate a different one of its lending offices or assign
its rights to another of its offices or branches so as to eliminate Borrower's obligation to pay any future amounts to such Affected
Lender pursuant to Section 2.11(l), Section 2.12(d)(i) or Section 2.13(a), as applicable,
or to enable Borrower to obtain LIBOR Rate Loans, then Borrower (without prejudice to any amounts then due to such Affected Lender
under Section 2.11(l), Section 2.12(d)(i) or Section 2.13(a), as applicable) may,
unless prior to the effective date of any such assignment the Affected Lender withdraws its request for such additional amounts
under Section 2.11(l), Section 2.12(d)(i) or Section 2.13(a), as applicable, or indicates
that it is no longer unlawful or impractical to fund or maintain LIBOR Rate Loans, may designate a different Issuing Bank or substitute
a Lender or prospective Lender, in each case, reasonably acceptable to Agent to purchase the Obligations owed to such Affected
Lender and such Affected Lender's commitments hereunder (a "Replacement Lender"), and if such Replacement Lender
agrees to such purchase, such Affected Lender shall assign to the Replacement Lender its Obligations and Commitments, and upon
such purchase by the Replacement Lender, which such Replacement Lender shall be deemed to be "Issuing Bank" or a "Lender"
(as the case may be) for purposes of this Agreement and such Affected Lender shall cease to be "Issuing Bank" or
a "Lender" (as the case may be) for purposes of this Agreement.

 

(c)              
Notwithstanding anything herein to the contrary, the protection of Sections 2.11(l), 2.12(d), and 2.13
shall be available to Issuing Bank and each Lender (as applicable) regardless of any possible contention of the invalidity
or inapplicability of the law, rule, regulation, judicial ruling, judgment, guideline, treaty or other change or condition which
shall have occurred or been imposed, so long as it shall be customary for issuing banks or lenders affected thereby to comply therewith.
Notwithstanding any other provision herein, neither Issuing Bank nor any Lender shall demand compensation pursuant to this Section 2.13
if it shall not at the time be the general policy or practice of Issuing Bank or such Lender (as the case may be) to demand
such compensation in similar circumstances under comparable provisions of other credit agreements, if any.

 

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3.               CONDITIONS; TERM OF AGREEMENT.

 

3.1.         
Conditions Precedent to the Initial Extension of Credit. The obligation of each Lender to make the extension of credit
on the Closing Date provided for hereunder is subject to the fulfillment, to the satisfaction of Agent and each Lender, of each
of the conditions precedent set forth on Schedule 3.1 (the making of such initial extensions of credit by a Lender being
conclusively deemed to be its satisfaction or waiver of the conditions precedent ).

 

3.2.         
Conditions Precedent to all Extensions of Credit. The obligation of the Lender Group (or any member thereof) to
make any Revolving Loans hereunder (or to extend any other credit hereunder) at any time shall be subject to the following
conditions precedent:

 

(a)              
the representations and warranties of Borrower and/or its Subsidiaries contained in this Agreement or in the other Loan
Documents shall be true and correct in all material respects (except that such materiality qualifier shall not be applicable to
any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of
the date of such extension of credit, as though made on and as of such date (except to the extent that such representations and
warranties relate solely to an earlier date, in which case such representations and warranties shall be true and correct in all
material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already
are qualified or modified by materiality in the text thereof) as of such earlier date); and

 

(b)              
no Default or Event of Default shall have occurred and be continuing on the date of such extension of credit, nor shall
either result from the making thereof.

 

3.3.          Maturity. This Agreement shall continue in full force and effect for a term ending on the Maturity Date (unless terminated
earlier in accordance with the terms hereof).

 

3.4.         
Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder
shall automatically be terminated and all of the Obligations immediately shall become due and payable without notice or demand
and Borrower shall be required to repay all of the Obligations in full. No termination of the obligations of the Lender Group (other
than payment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its
duties, obligations, or covenants hereunder or under any other Loan Document and Agent's Liens in the Collateral shall continue
to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Commitments have been
terminated. When all of the Obligations have been paid in full and the Lender Group's obligations to provide additional credit
under the Loan Documents have been terminated irrevocably, Agent will, at Borrower's sole expense, execute and deliver any termination
statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable,
in recordable form) as are reasonably necessary to release, as of record, Agent's Liens and all notices of security interests
and liens previously filed by Agent.

 

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3.5.          Early
Termination by Borrower. Borrower has the option, at any time upon 10 Business Days prior written notice to Agent, to
terminate this Agreement and terminate the Commitments hereunder by repaying to Agent all of the Obligations in full and
terminate the Commitments. The foregoing notwithstanding, (a) Borrower may rescind termination notices relative to
proposed payments in full of the Obligations with the proceeds of (i) third party Indebtedness or (ii) a Permitted
Disposition involving the sale of substantially all of the assets of the Loan Parties, if the closing for such issuance,
incurrence, or disposition does not happen on or before the date of the proposed termination (in which case, a new notice
shall be required to be sent in connection with any subsequent termination), and (b) Borrower may extend the date of
termination at any time with the consent of Agent, which consent shall not be unreasonably withheld or delayed).

 

3.6.          Conditions Subsequent. The obligation of the Lender Group (or any member thereof) to continue to make Revolving
Loans (or otherwise extend credit hereunder) is subject to the fulfillment, on or before the date applicable thereto, of the
conditions subsequent set forth on Schedule 3.6 (the failure by Borrower to so perform or cause to be performed such conditions
subsequent as and when required by the terms thereof (unless such date is extended, in writing, by Agent) shall constitute an Event
of Default)..

 

 4.               
REPRESENTATIONS AND WARRANTIES.

 

In order to induce
the Lender Group to enter into this Agreement, Borrower makes the following representations and warranties to the Lender Group
which shall be true, correct, and complete, in all material respects (except that such materiality qualifier shall not be applicable
to any representations and warranties that already are qualified or modified by materiality in the text thereof), as of the Closing
Date, and shall be true, correct, and complete, in all material respects (except that such materiality qualifier shall not be applicable
to any representations and warranties that already are qualified or modified by materiality in the text thereof), as of the date
of the making of each Revolving Loan (or other extension of credit) made thereafter, as though made on and as of the date
of such Revolving Loan (or other extension of credit) (except to the extent that such representations and warranties relate
solely to an earlier date, in which case such representations and warranties shall be true and correct in all material respects
(except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified
or modified by materiality in the text thereof) as of such earlier date) and such representations and warranties shall
survive the execution and delivery of this Agreement:

 

4.1.         
Due Organization and Qualification; Subsidiaries.

 

(a)              
Each Loan Party (i) is duly organized and existing and in good standing under the laws of the jurisdiction of its organization,
(ii) is qualified to do business in any state where the failure to be so qualified could reasonably be expected to result
in a Material Adverse Effect, and (iii) has all requisite power and authority to own and operate its properties, to carry
on its business as now conducted and as proposed to be conducted, to enter into the Loan Documents to which it is a party and to
carry out the transactions contemplated thereby.

 

(b)               Set
forth on Schedule 4.1(b) (as such Schedule may be updated from time to time to reflect changes resulting from
transactions permitted under this Agreement) is a complete and accurate description of the authorized Equity
Interests of Borrower, by class, and, as of the Closing Date, a description of the number of shares of each such class that
are issued and outstanding. Except as set forth on Schedule 4.1(b), Borrower is not subject to any obligation
(contingent or otherwise) to repurchase or otherwise acquire or retire any shares of its Equity Interests or any
security convertible into or exchangeable for any of its Equity Interests.

 

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(c)              
Set forth on Schedule 4.1(c) (as such Schedule may be updated from time to time to reflect changes resulting
from transactions permitted under this Agreement), is a complete and accurate list of the Loan Parties' direct and indirect Subsidiaries,
showing: (i) the number of shares of each class of common and preferred Equity Interests authorized for each of such Subsidiaries,
and (ii) the number and the percentage of the outstanding shares of each such class owned directly or indirectly by Borrower.
All of the outstanding Equity Interests of each such Subsidiary has been validly issued and is fully paid and non-assessable.

 

(d)              
Except as set forth on Schedule 4.1(d), there are no subscriptions, options, warrants, or calls relating to any shares
of Borrower's or its Subsidiaries' Equity Interests, including any right of conversion or exchange under any outstanding security
or other instrument.

 

4.2.         
Due Authorization; No Conflict.

 

(a)              
As to each Loan Party, the execution, delivery, and performance by such Loan Party of the Loan Documents to which it is
a party have been duly authorized by all necessary action on the part of such Loan Party.

 

(b)              
As to each Loan Party, the execution, delivery, and performance by such Loan Party of the Loan Documents to which it is
a party do not and will not (i) violate any material provision of federal, state, or local law or regulation applicable to
any Loan Party or its Subsidiaries, the Governing Documents of any Loan Party or its Subsidiaries, or any order, judgment, or decree
of any court or other Governmental Authority binding on any Loan Party or its Subsidiaries (or with respect to any Immaterial Subsidiary,
to Borrower's actual knowledge), (ii) conflict with, result in a breach of, or constitute (with due notice or lapse of time
or both) a default under any material agreement of any Loan Party or its Subsidiaries where any such conflict, breach or default
could individually or in the aggregate reasonably be expected to have a Material Adverse Effect, (iii) result in or require
the creation or imposition of any Lien of any nature whatsoever upon any assets of any Loan Party, other than Permitted Liens,
or (iv) require any approval of any holder of Equity Interests of a Loan Party or any approval or consent of any Person under
any material agreement of any Loan Party, other than consents or approvals that have been obtained and that are still in force
and effect and except, in the case of material agreements, for consents or approvals, the failure to obtain could not individually
or in the aggregate reasonably be expected to cause a Material Adverse Effect.

 

4.3.            Governmental
Consents. The execution, delivery, and performance by each Loan Party of the Loan Documents to which such Loan Party is a
party and the consummation of the transactions contemplated by the Loan Documents do not and will not require any
registration with, consent, or approval of, or notice to, or other action with or by, any Governmental Authority, other
than (a) registrations, consents, approvals, notices, or other actions that have been obtained and that are still in
force and effect, (b) filings and recordings with respect to the Collateral to be made, or otherwise delivered to Agent
for filing or recordation, as of the Closing Date, and (c) Borrower's post-Closing Date notice filing of an 8-k
statement with the SEC disclosing this Agreement and transactions contemplated hereby.

 

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4.4.         
Binding Obligations; Perfected Liens.

 

(a)              
Each Loan Document has been duly executed and delivered by each Loan Party that is a party thereto and is the legally valid
and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its respective terms, except
as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws
relating to or limiting creditors' rights generally.

 

(b)              Agent's Liens are validly created, perfected (other than (i) in respect of motor vehicles that are subject to a certificate
of title, (ii) money, (iii) letter-of-credit rights (other than supporting obligations, (iv) commercial tort claims
(other than those that, by the terms of the Guaranty and Security Agreement, are required to be perfected), and (v) any Deposit
Accounts and Securities Accounts not subject to a Control Agreement as permitted by Section 7(k)(iv) of the Guaranty
and Security Agreement, and subject only to the filing of financing statements and the recordation of the Mortgages (the parties
hereto acknowledge there are no Mortgages as of the Closing Date), in each case, in the appropriate filing offices), and first
priority Liens, subject only to Permitted Liens which are non-consensual Permitted Liens, permitted purchase money Liens, or the
interests of lessors under Capital Leases.

 

4.5.          Title to Assets; No Encumbrances. Each of the Loan Parties and its Subsidiaries has (a) good, sufficient
and legal title to (in the case of fee interests in Real Property), (b) valid leasehold interests in (in the case of leasehold
interests in real or personal property), and (c) good and marketable title to (in the case of all other personal property),
all of their respective assets reflected in their most recent financial statements delivered pursuant to Section 5.1,
in each case except for assets disposed of since the date of such financial statements to the extent permitted hereby. All of such
assets are free and clear of Liens except for Permitted Liens.

 

4.6.         
Litigation.

 

(a)              
There are no actions, suits, or proceedings pending or, to the knowledge of Borrower, after due inquiry, threatened in writing
against a Loan Party or any of its Subsidiaries that either individually or in the aggregate could reasonably be expected to result
in a Material Adverse Effect.

 

(b)              
Schedule 4.6(b) sets forth a complete and accurate description, with respect to each of the actions, suits,
or proceedings with asserted liabilities in excess of, or that could reasonably be expected to result in liabilities in excess
of, $100,000 that, as of the Closing Date, is pending or, to the knowledge of Borrower, after reasonable due inquiry, threatened
against a Loan Party or any of its Subsidiaries, of (i) the parties to such actions, suits, or proceedings, (ii) the
nature of the dispute that is the subject of such actions, suits, or proceedings, (iii) the procedural status, as of the Closing
Date, with respect to such actions, suits, or proceedings, and (iv) whether any liability of the Loan Parties' and their Subsidiaries
in connection with such actions, suits, or proceedings is covered by insurance.

 

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4.7.           
Compliance with Laws. No Loan Party nor any of its Subsidiaries (a) is in violation of any applicable laws,
rules, regulations, executive orders, or codes (including Environmental Laws) that, individually or in the aggregate, could
reasonably be expected to result in a Material Adverse Effect, or (b) is subject to or in default with respect to any final
judgments, writs, injunctions, decrees, rules or regulations of any court or any federal, state, municipal or other governmental
department, commission, board, bureau, agency or instrumentality, domestic or foreign, that, individually or in the aggregate,
could reasonably be expected to result in a Material Adverse Effect.

 

4.8.           
No Material Adverse Effect. All historical financial statements relating to the Loan Parties and their Subsidiaries
that have been delivered by Borrower to Agent have been prepared in accordance with GAAP (except, in the case of unaudited financial
statements, for the lack of footnotes and being subject to year-end audit adjustments) and present fairly in all material
respects, the Loan Parties' and their Subsidiaries' consolidated financial condition as of the date thereof and results of operations
for the period then ended. Since December 31, 2012, no event, circumstance, or change has occurred that has or could reasonably
be expected to result in a Material Adverse Effect with respect to the Loan Parties and their Subsidiaries.

 

4.9.           
Solvency.

 

(a)              
Each Loan Party is Solvent.

 

(b)              
No transfer of property is being made by any Loan Party and no obligation is being incurred by any Loan Party in connection
with the transactions contemplated by this Agreement or the other Loan Documents with the intent to hinder, delay, or defraud either
present or future creditors of such Loan Party.

 

4.10.       
Employee Benefits. No Loan Party nor any of their respective ERISA Affiliates maintains or contributes to any Benefit
Plan. Except as could not reasonably be expected to have a Material Adverse Effect, (i) each Employee Benefit Plan complies with,
and has been operated in accordance with, all applicable laws, including ERISA and the IRC, and the terms of such Employee Benefit
Plan, (ii) no Loan Party has any liability for a fine, penalty, damage, or excise tax with respect to an Employee Benefit Plan,
(iii) no Loan Party has received notice from a Governmental Authority, plan administrator, or participant (or any participant's
agent) that any such fine, penalty, damage or excise tax may be owing by such Loan Party and (iv) each Employee Benefit Plan intended
to be qualified under Section 401 of the IRC is so qualified.

 

4.11.        Environmental
Condition. Except as set forth on Schedule 4.11, (a) to Borrower's actual knowledge, no Loan Party's nor any
of its Subsidiaries' properties or assets has ever been used by a Loan Party, its Subsidiaries, or by previous owners or
operators in the disposal of, or to produce, store, handle, treat, release, or transport, any Hazardous Materials, where such
disposal, production, storage, handling, treatment, release or transport was in violation, in any material respect, of
any applicable Environmental Law, (b) to Borrower's actual knowledge, after reasonable due inquiry, no Loan Party's nor
any of its Subsidiaries' properties or assets has ever been designated or identified in any manner pursuant to any
environmental protection statute as a Hazardous Materials disposal site, (c) no Loan Party nor any of its Subsidiaries
has received notice that a Lien arising under any Environmental Law has attached to any revenues or to any Real Property
owned or operated by a Loan Party or its Subsidiaries, and (d) no Loan Party nor any of its Subsidiaries nor any of
their respective facilities or operations is subject to any outstanding written order, consent decree, or settlement
agreement with any Person relating to any Environmental Law or Environmental Liability that, individually or in the
aggregate, could reasonably be expected to result in a Material Adverse Effect.

 

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4.12.       
Complete Disclosure. All factual information taken as a whole (other than forward-looking information and projections
and information of a general economic nature and general information about Borrower's industry) furnished by or on behalf
of a Loan Party or its Subsidiaries in writing to Agent or any Lender (including all information contained in the Schedules hereto
or in the other Loan Documents) for purposes of or in connection with this Agreement or the other Loan Documents, and all
other such factual information taken as a whole (other than forward-looking information and projections and information of a general
economic nature and general information about Borrower's industry) hereafter furnished by or on behalf of a Loan Party or
its Subsidiaries in writing to Agent or any Lender will be, true and accurate, in all material respects, on the date as of which
such information is dated or certified and not incomplete by omitting to state any fact necessary to make such information (taken
as a whole) not misleading in any material respect at such time in light of the circumstances under which such information
was provided. The Projections delivered to Agent on December 20, 2019 represent, and as of the date on which any other Projections
are delivered to Agent, such additional Projections represent, Borrower's good faith estimate, on the date such Projections are
delivered, of the Loan Parties' and their Subsidiaries' future performance for the periods covered thereby based upon assumptions
believed by Borrower to be reasonable at the time of the delivery thereof to Agent (it being understood that such Projections are
subject to significant uncertainties and contingencies, many of which are beyond the control of the Loan Parties and their Subsidiaries,
and no assurances can be given that such Projections will be realized, and although reflecting Borrower's good faith estimate,
projections or forecasts based on methods and assumptions which Borrower believed to be reasonable at the time such Projections
were prepared, are not to be viewed as facts, and that actual results during the period or periods covered by the Projections may
differ materially from projected or estimated results). As of the Closing Date, the information included in the Beneficial Ownership
Certification is true and correct in all respects.

 

4.13.       
Patriot Act. To the extent applicable, each Loan Party and each of its Subsidiaries is in compliance, in all material
respects, with the (a) Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United
States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order
relating thereto, and (b) Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism (USA Patriot Act of 2001) (the "Patriot Act"). No part of the proceeds of the loans made hereunder
will be used by any Loan Party or any of their Affiliates, directly or indirectly, for any payments to any governmental official
or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official
capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign
Corrupt Practices Act of 1977, as amended.

 

4.14.        Indebtedness.
Set forth on Schedule 4.14 is a true and complete list of all Indebtedness of each Loan Party and each of its
Subsidiaries outstanding immediately prior to the Closing Date that is to remain outstanding immediately after giving effect
to the closing hereunder on the Closing Date and such Schedule accurately sets forth the aggregate principal amount of such
Indebtedness as of the Closing Date.

 

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4.15.       
Payment of Taxes. Except as otherwise permitted under Section 5.5, all Tax returns and reports of each
Loan Party and its Subsidiaries required to be filed by any of them have been timely filed, and all Taxes shown on such Tax returns
to be due and payable and all assessments, fees and other governmental charges upon a Loan Party and its Subsidiaries and upon
their respective assets, income, businesses and franchises that are due and payable have been paid when due and payable, except
with respect to the federal Tax liabilities set forth in clause (e) of Schedule 3.6 not to exceed $120,000 in the aggregate.
Each Loan Party and each of its Subsidiaries have made adequate provision in accordance with GAAP for all Taxes not yet due and
payable. Borrower knows of no proposed Tax assessment against a Loan Party or any of its Subsidiaries that is not being actively
contested by such Loan Party or such Subsidiary diligently, in good faith, and by appropriate proceedings; provided such reserves
or other appropriate provisions, if any, as shall be required in conformity with GAAP shall have been made or provided therefor.

 

4.16.       
Margin Stock. No Loan Party nor any of its Subsidiaries owns any Margin Stock or is engaged principally, or as one
of its important activities, in the business of extending credit for the purpose of purchasing or carrying any Margin Stock. No
part of the proceeds of the loans made to Borrower will be used to purchase or carry any Margin Stock or to extend credit to others
for the purpose of purchasing or carrying any Margin Stock or for any purpose that violates the provisions of Regulation T, U or
X of the Board of Governors. No Loan Party nor any of its Subsidiaries expects to acquire any Margin Stock.

 

4.17.       
Governmental Regulation. No Loan Party nor any of its Subsidiaries is subject to regulation under the Federal Power
Act or the Investment Company Act of 1940 or under any other federal, state or foreign statute or regulation which may limit its
ability to incur Indebtedness or which may otherwise render all or any portion of the Obligations unenforceable. No Loan Party
nor any of its Subsidiaries is a "registered investment company" or a company "controlled" by a "registered
investment company" or a "principal underwriter" of a "registered investment company" as such terms are
defined in the Investment Company Act of 1940.

 

4.18.        OFAC;
Sanctions; Anti-Corruption Laws; Anti-Money Laundering Laws. No Loan Party or any of its Subsidiaries is in violation of
any Sanctions. No Loan Party nor any of its Subsidiaries nor, to the knowledge of such Loan Party, any director, officer,
employee, agent or Affiliate of such Loan Party or such Subsidiary (a) is a Sanctioned Person or a Sanctioned Entity, (b) has
any assets located in Sanctioned Entities, or (c) derives revenues from investments in, or transactions with
Sanctioned Persons or Sanctioned Entities. Each of the Loan Parties and its Subsidiaries has implemented and maintains in
effect policies and procedures designed to ensure compliance with all Sanctions, Anti-Corruption Laws and Anti-Money
Laundering Laws. Each of the Loan Parties and its Subsidiaries, and to the knowledge of each such Loan Party, each director,
officer, employee, agent and Affiliate of each such Loan Party and each such Subsidiary, is in compliance with all Sanctions,
Anti-Corruption Laws and Anti-Money Laundering Laws. No proceeds of any Loan made or Letter of Credit issued hereunder will
be used to fund any operations in, finance any investments or activities in, or make any payments to, a Sanctioned Person or
a Sanctioned Entity, or otherwise used in any manner that would result in a violation of any Sanction, Anti-Corruption Law or
Anti-Money Laundering Law by any Person (including any Lender, Bank Product Provider, or other individual or entity
participating in any transaction).

 

    -43-

     

    

 

4.19.       
Employee and Labor Matters. There is (i) no unfair labor practice complaint pending or, to the knowledge of
Borrower, threatened against Borrower or its Subsidiaries before any Governmental Authority and no grievance or arbitration proceeding
pending or threatened against Borrower or its Subsidiaries which arises out of or under any collective bargaining agreement and
that could reasonably be expected to result in a material liability, (ii) no strike, labor dispute, slowdown, stoppage or
similar action or grievance pending or threatened in writing against Borrower or its Subsidiaries that could reasonably be expected
to result in a material liability, or (iii) to the knowledge of Borrower, after reasonable due inquiry, no union representation
question existing with respect to the employees of Borrower or its Subsidiaries and no union organizing activity taking place with
respect to any of the employees of Borrower or its Subsidiaries. None of Borrower or its Subsidiaries has incurred any liability
or obligation under the Worker Adjustment and Retraining Notification Act or similar state law, which remains unpaid or unsatisfied.
The hours worked and payments made to employees of Borrower or its Subsidiaries have not been in violation of the Fair Labor Standards
Act or any other applicable legal requirements, except to the extent such violations could not, individually or in the aggregate,
reasonably be expected to result in a Material Adverse Effect. All material payments due from Borrower or its Subsidiaries on account
of wages and employee health and welfare insurance and other benefits have been paid or accrued as a liability on the books of
Borrower, except where the failure to do so could not, individually or in the aggregate, reasonably be expected to result in a
Material Adverse Effect.

 

4.20.       
Leases. Each Loan Party and its Subsidiaries enjoy peaceful and undisturbed possession under all leases material
to their business and to which they are parties or under which they are operating, and, subject to Permitted Protests, all of such
material leases are valid and subsisting and no material default by the applicable Loan Party or its Subsidiaries exists under
any of them.

 

4.21.       
Hedge Agreements. On each date that any Hedge Agreement is executed by any Hedge Provider, Borrower and each other
Loan Party satisfy all eligibility, suitability and other requirements under the Commodity Exchange Act (7 U.S.C. § 1, et
seq., as in effect from time to time) and the Commodity Futures Trading Commission regulations.

 

4.22.        Privacy
and Information Security. Each Loan Party and its Subsidiaries have implemented a comprehensive written information
security program that contains administrative, organizational, technical, and physical safeguards and is designed to (i)
secure and protect the IT Assets consistent with industry best practices; (ii) ensure the security, confidentiality,
integrity and availability of Personal Information and IT Assets; (iii) protect against any anticipated threats or hazards to
the security, confidentiality, integrity and availability of Personal Information and IT Assets; and (iv) protect against any
actual or suspected (x) loss or unauthorized processing, use, disclosure, modification or acquisition of or access to any
Personal Information, and/or (y) compromise to the security, confidentiality, integrity or availability of IT Assets that
materially interferes with and adversely affects a Loan Party’s or its Subsidiaries’ business operations
(hereinafter “Information Security Incident”). Except as set forth in Schedule 4.22, (i) the Loan Parties
and their Subsidiaries have not experienced an Information Security Incident; (ii) the Loan Parties and their Subsidiaries
have not been notified of and are not the subject of any action, investigation, litigation or claim related to information
security or privacy; and (iii) no Person (including any Governmental Authority) has made any claim or commenced any action or
investigation against any Loan Party or its Subsidiaries with respect to any Information Security Incident. The Loan Parties
and their Subsidiaries are, and have been at all times, (i) in compliance with all applicable Privacy Laws; and (ii) in
compliance with all of the relevant Loan Party’s and its Subsidiaries’ policies regarding privacy and information
security, including without limitation (x) all privacy policies and similar disclosures published on the Loan Party’s
and its Subsidiaries websites or mobile apps; and (y) any existing contractual commitment made by the Loan Party and its
Subsidiaries with respect to Personal Information or the security of IT Assets.

 

    -44-

     

    

 

	5.	AFFIRMATIVE COVENANTS.

 

Borrower covenants
and agrees that, until termination of all of the Commitments and payment in full of the Obligations:

 

5.1.           
Financial Statements, Reports, Certificates. Borrower (a) will deliver to Agent, with copies for each Lender,
each of the financial statements, reports, and other items set forth on Schedule 5.1 no later than the times specified therein,
(b) agrees that no Subsidiary of a Loan Party will have a fiscal year different from that of Borrower, (c) agrees to
maintain a system of accounting that enables Borrower to produce financial statements in accordance with GAAP, and (d) agrees
that it will, and will cause each other Loan Party to, maintain its billing systems and practices substantially as in effect as
of the Closing Date and shall only make material modifications thereto with notice to, and with the consent of, Agent; provided,
Agent's consent shall not be required for Borrower to notify Account Debtors to make payment to a Controlled Account Bank pursuant
to its obligations under Section 7(k)(i) of the Guaranty and Security Agreement.

 

5.2.           
Reporting. Borrower will deliver to Agent (and if so requested by Agent, with copies for each Lender) each of
the reports set forth on Schedule 5.2 at the times specified therein.

 

5.3.           
Existence. Except as otherwise permitted or required under Section 6.3 Section 6.4, or Schedule
3.6, Borrower will, and will cause each of its Subsidiaries to, at all times preserve and keep in full force and effect such
Person's valid existence and good standing in its jurisdiction of organization and, except as could not reasonably be expected
to result in a Material Adverse Effect, good standing with respect to all other jurisdictions in which it is qualified to do business
and any rights, franchises, permits, licenses, accreditations, authorizations, or other approvals material to their businesses.

 

5.4.           
Maintenance of Properties. Borrower will, and will cause each of its Subsidiaries to, maintain and preserve all of
its assets that are necessary or useful in the proper conduct of its business in good working order and condition, ordinary wear,
tear, casualty, and condemnation and Permitted Dispositions excepted.

 

    -45-

     

    

 

5.5.           
Taxes. Borrower will, and will cause each of its Subsidiaries to, pay in full before delinquency or before the expiration
of any extension period all material governmental assessments and Taxes imposed, levied, or assessed against it, or any of its
assets or in respect of any of its income, businesses, or franchises, except to the extent that the validity of such governmental
assessment or Tax is the subject of a Permitted Protest.

 

5.6.           
Insurance. Borrower will, and will cause each of its Subsidiaries to, at Borrower's expense, (a) maintain insurance
respecting each of Borrower's and its Subsidiaries' assets wherever located, covering liabilities, losses or damages as are customarily
are insured against by other Persons engaged in same or similar businesses and similarly situated and located. All such policies
of insurance shall be with financially sound and reputable insurance companies acceptable to Agent (it being agreed that, as of
the Closing Date, Pacific Indemnity Company and Federal Insurance Company are acceptable to Agent) and in such amounts as
is carried generally in accordance with sound business practice by companies in similar businesses similarly situated and located
and, in any event, in amount, adequacy, and scope reasonably satisfactory to Agent (it being agreed that the amount, adequacy,
and scope of the policies of insurance of Borrower in effect as of the Closing Date are acceptable to Agent). All property insurance
policies covering the Collateral are to be made payable to Agent for the benefit of Agent and the Lenders, as their interests may
appear, in case of loss, pursuant to a standard loss payable endorsement with a standard non contributory "lender" or
"secured party" clause and are to contain such other provisions as Agent may reasonably require to fully protect the
Lenders' interest in the Collateral and to any payments to be made under such policies. All certificates of property and general
liability insurance are to be delivered to Agent, with the loss payable (but only in respect of Collateral) and additional
insured endorsements in favor of Agent and shall provide for not less than 30 days (10 days in the case of non-payment) prior
written notice to Agent of the exercise of any right of cancellation. Borrower shall give Agent prompt notice of any loss exceeding
$100,000 covered by its or its Subsidiaries' casualty or business interruption insurance. Upon the occurrence and during the continuance
of an Event of Default, Agent shall have the sole right to file claims under any property and general liability insurance policies
in respect of the Collateral, to receive, receipt and give acquittance for any payments that may be payable thereunder, and to
execute any and all endorsements, receipts, releases, assignments, reassignments or other documents that may be necessary to effect
the collection, compromise or settlement of any claims under any such insurance policies. If any Loan Party or its Subsidiaries
fails to maintain such insurance, Agent may arrange for such insurance, but at Borrower's expense and without any responsibility
on Agent's part for obtaining the insurance, the solvency of the insurance companies, the adequacy of the coverage, or the collection
of claims.

 

5.7.           
Inspection.

 

(a)              
Borrower will, and will cause each of its Subsidiaries to, permit Agent, any Lender, and each of their respective duly authorized
representatives or agents to visit any of its properties and inspect any of its assets or books and records, to examine and make
copies of its books and records, and to discuss its affairs, finances, and accounts with, and to be advised as to the same by,
its officers and employees (provided an authorized representative of Borrower shall be allowed to be present) at such reasonable
times and intervals as Agent or any Lender, as applicable, may designate and, so long as no Default or Event of Default has occurred
and is continuing, with reasonable prior notice to Borrower and during regular business hours.

 

    -46-

     

    

 

(b)              
Borrower will, and will cause each of its Subsidiaries to, permit Agent, any Lender and each of their respective duly authorized
representatives or agents to conduct appraisals and valuations at such reasonable times and intervals as Agent may designate.

 

5.8.           
Compliance with Laws. Without limiting any of the other provisions hereof, Borrower will, and will cause each of
its Subsidiaries to, comply with the requirements of all applicable laws, rules, regulations, and orders of any Governmental Authority,
other than laws, rules, regulations, and orders the non-compliance with which, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect.

 

5.9.           
Environmental. Borrower will, and will cause each of its Subsidiaries to,

 

(a)              
Keep any property either owned or operated by Borrower or its Subsidiaries free of any Environmental Liens or post bonds
or other financial assurances sufficient to satisfy the obligations or liability evidenced by such Environmental Liens,

 

(b)              
Comply, in all material respects, with Environmental Laws and provide to Agent documentation of such compliance which Agent
reasonably requests,

 

(c)              
Promptly notify Agent of any release of which Borrower has knowledge of a Hazardous Material in any reportable quantity
from or onto property owned or operated by Borrower or its Subsidiaries and take any Remedial Actions required to abate said release
or otherwise to come into compliance, in all material respects, with applicable Environmental Law, and

 

(d)              
Promptly, but in any event within 5 Business Days of its receipt thereof, provide Agent with written notice of any of the
following: (i) notice that an Environmental Lien has been filed against any of the real or personal property of Borrower or
its Subsidiaries, (ii) commencement of any Environmental Action or written notice that an Environmental Action will be filed
against Borrower or its Subsidiaries, and (iii) written notice of a violation, citation, or other administrative order from
a Governmental Authority.

 

5.10.       
Disclosure Updates. Borrower will, promptly and in no event later than 5 Business Days after obtaining knowledge
thereof, notify Agent if any written information, exhibit, or report furnished to Agent or the Lenders contained, at the time it
was furnished, any untrue statement of a material fact or omitted to state any material fact necessary to make the statements contained
therein not misleading in light of the circumstances in which made. The foregoing to the contrary notwithstanding, any notification
pursuant to the foregoing provision will not cure or remedy the effect of the prior untrue statement of a material fact or omission
of any material fact nor shall any such notification have the effect of amending or modifying this Agreement or any of the Schedules
hereto.

 

    -47-

     

    

 

5.11.        Formation
of Subsidiaries. Borrower will, at the time that any Loan Party forms any direct or indirect Subsidiary or acquires any
direct or indirect Subsidiary after the Closing Date, within 10 Business Days of such formation or acquisition (or such later
date as permitted by Agent in its sole discretion) (a) cause such new Subsidiary to provide to Agent a joinder to
the Guaranty and Security Agreement, together with such other security agreements (including mortgages with respect to any
Real Property owned in fee of such new Subsidiary with a fair market value greater than $250,000), as well as
appropriate financing statements (and with respect to all property subject to a mortgage, fixture filings), all in form and
substance reasonably satisfactory to Agent (including being sufficient to grant Agent a first priority Lien (subject to
Permitted Liens) in and to the assets of such newly formed or acquired Subsidiary); provided, that the joinder to
the Guaranty and Security Agreement, and such other security agreements shall not be required to be provided to Agent with
respect to any Subsidiary of Borrower that is a CFC if providing such agreements would result in material adverse Tax
consequences or the costs to the Loan Parties of providing such guaranty or such security agreements are unreasonably
excessive (as determined by Agent in consultation with Borrower) in relation to the benefits to Agent and the Lenders of
the security or guarantee afforded thereby, (b) provide, or cause the applicable Loan Party to provide, to Agent a
pledge agreement (or an addendum to the Guaranty and Security Agreement) and appropriate certificates and powers or
financing statements, pledging all of the direct or beneficial ownership interest in such new Subsidiary in form and
substance reasonably satisfactory to Agent; provided, that only 65% of the total outstanding voting Equity Interests
of any first tier Subsidiary of Borrower that is a CFC (and none of the Equity Interests of any Subsidiary of such
CFC) shall be required to be pledged if pledging a greater amount would result in material adverse Tax consequences or
the costs to the Loan Parties of providing such pledge are unreasonably excessive (as determined by Agent in consultation
with Borrower) in relation to the benefits to Agent and the Lenders of the security afforded thereby (which pledge, if
reasonably requested by Agent, shall be governed by the laws of the jurisdiction of such Subsidiary), and (c) provide to
Agent all other documentation, including one or more opinions of counsel reasonably satisfactory to Agent, which, in its
opinion, is appropriate with respect to the execution and delivery of the applicable documentation referred to above
(including policies of title insurance or other documentation with respect to all Real Property owned in fee and subject to a
mortgage). Any document, agreement, or instrument executed or issued pursuant to this Section 5.11 shall
constitute a Loan Document.

 

5.12.        Further
Assurances. Borrower will, and will cause each of the other Loan Parties to, at any time upon the reasonable request of
Agent, execute or deliver to Agent any and all financing statements, fixture filings, security agreements,
pledges, assignments, mortgages, deeds of trust, opinions of counsel, and all other documents (the "Additional
Documents") that Agent may reasonably request in form and substance reasonably satisfactory to Agent, to
create, perfect, and continue perfected or to better perfect Agent's Liens in all of the assets of Borrower and its
Subsidiaries (whether now owned or hereafter arising or acquired, tangible or intangible, real or personal), to create and
perfect Liens in favor of Agent in any Real Property acquired by Borrower or any other Loan Party with a fair market value in
excess of $250,000, and in order to fully consummate all of the transactions contemplated hereby and under the other Loan
Documents; provided that the foregoing shall not apply to any Subsidiary of Borrower that is a CFC if providing such
documents would result in material adverse Tax consequences or the costs to the Loan Parties of providing such documents are
unreasonably excessive (as determined by Agent in consultation with Borrower) in relation to the benefits to Agent and
the Lenders of the security afforded thereby. To the maximum extent permitted by applicable law, if Borrower or any other
Loan Party refuses or fails to execute or deliver any reasonably requested Additional Documents within a reasonable period of
time following the request to do so, Borrower and each other Loan Party hereby authorizes Agent to execute any such
Additional Documents in the applicable Loan Party's name and authorizes Agent to file such executed Additional Documents in
any appropriate filing office. In furtherance of, and not in limitation of, the foregoing, each Loan Party shall take such
actions as Agent may reasonably request from time to time to ensure that the Obligations are guaranteed by the Guarantors and
are secured by substantially all of the assets of Borrower and its Subsidiaries, including all of the outstanding
capital Equity Interests of Borrower's Subsidiaries (subject to exceptions and limitations contained in the Loan Documents
with respect to CFCs).

 

    -48-

     

    

 

5.13.       
Lender Meetings. Borrower will, within 90 days after the close of each fiscal year of Borrower, at the request of
Agent and upon reasonable prior notice, hold a meeting (at a mutually agreeable location and time or, at the option of Agent, by
conference call) with all Lenders who choose to attend such meeting at which meeting shall be reviewed the financial results
of the previous fiscal year and the financial condition of Borrower and its Subsidiaries and the projections presented for the
current fiscal year of Borrower.

 

5.14.       
Bank Products. After establishing such relationships in accordance with Schedule 3.6, the Loan Parties
shall maintain their primary depository and treasury management relationships with Wells Fargo or one or more of its Affiliates
at all times during the term of the Agreement.

 

5.15.       
Hedge Agreements. Borrower agrees that it shall offer to Wells Fargo or one or more of its Affiliates the first opportunity
to bid for all Hedge Agreements to be entered into by any Loan Party or any of its Subsidiaries during the term of the Agreement.

 

5.16.       
OFAC; Sanctions; Anti-Corruption Laws; Anti-Money Laundering Laws. Each Loan Party will, and will cause each of its
Subsidiaries to comply with all applicable Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws. Each of the Loan Parties
and its Subsidiaries shall implement and maintain in effect policies and procedures designed to ensure compliance by the Loan Parties
and their Subsidiaries and their respective directors, officers, employees, agents and Affiliates with all Sanctions, Anti-Corruption
Laws and Anti-Money Laundering Laws. Each of the Loan Parties shall and shall cause their respective Subsidiaries to comply with
all Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws.

 

5.17.        Information
Security Requirements; Personal Information. Each Loan Party shall and shall cause its Subsidiaries to comply, in all
material respects, with all Privacy Laws currently in effect and as they become effective relating in any way to Personal
Information or IT Assets. Each Loan Party and its Subsidiaries will maintain and comply with a comprehensive
written information security program that contains administrative, organizational, technical, and physical safeguards and is
designed to (i) secure and protect the IT Assets consistent with industry best practices; (ii) ensure the security,
confidentiality, integrity and availability of Personal Information and IT Assets; (iii) protect against any anticipated
threats or hazards to the security, confidentiality, integrity and availability of Personal Information and IT Assets; and
(iv) protect against any Information Security Incident. Each Loan Party and its Subsidiaries will notify Administrative Agent
Lenders promptly (and in any event within 1 Business Day) upon the occurrence of any of the following): (i) an Information
Security Incident; (ii) any action, investigation, litigation or claim made against any Loan Party or its Subsidiaries
related to information security or privacy; or (iii) any action or investigation commenced, or any claim made, by any Person
(including any Governmental Authority) with respect to any Information Security Incident.

 

    -49-

     

    

 

	6.	NEGATIVE COVENANTS.

 

Borrower covenants
and agrees that, until termination of all of the Commitments and payment in full of the Obligations:

 

6.1.           
Indebtedness. Borrower will not, and will not permit any of its Subsidiaries to create, incur, assume, suffer to
exist, guarantee, or otherwise become or remain, directly or indirectly, liable with respect to any Indebtedness, except for Permitted
Indebtedness.

 

6.2.           
Liens. Borrower will not, and will not permit any of its Subsidiaries to create, incur, assume, or suffer to exist,
directly or indirectly, any Lien on or with respect to any of its assets, of any kind, whether now owned or hereafter acquired,
or any income or profits therefrom, except for Permitted Liens.

 

6.3.           
Restrictions on Fundamental Changes. Borrower will not, and will not permit any of its Subsidiaries to,

 

(a)              
Other than in order to consummate a Permitted Acquisition, enter into any merger, consolidation, reorganization, or recapitalization,
or reclassify its Equity Interests, except for (i) any merger between Loan Parties, provided, that Borrower must be
the surviving entity of any such merger to which it is a party, (ii) any merger between a Loan Party and a Subsidiary of such
Loan Party that is not a Loan Party so long as such Loan Party is the surviving entity of any such merger, and (iii) any merger
between Subsidiaries of Borrower that are not Loan Parties,

 

(b)              
liquidate, wind up, or dissolve itself (or suffer any liquidation or dissolution), except for (i) the liquidation or
dissolution of a Loan Party (other than Borrower) or any of its wholly-owned Subsidiaries so long as all of the assets (including
any interest in any Equity Interests) of such liquidating or dissolving Loan Party or Subsidiary are transferred to a Loan
Party that is not liquidating or dissolving, or (ii) the liquidation or dissolution of a Subsidiary of Borrower that is not
a Loan Party (other than any such Subsidiary the Equity Interests of which (or any portion thereof) is subject to a Lien in
favor of Agent) so long as all of the assets of such liquidating or dissolving Subsidiary are transferred to a Subsidiary
of Borrower that is not liquidating or dissolving,

 

(c)              
suspend or cease operating a substantial portion of its or their business, except as permitted pursuant to clauses (a) or
(b) above or in connection with a transaction permitted under Section 6.4, or

 

(d)              
change its classification/status for U.S. federal income tax purposes.

 

6.4.            Disposal
of Assets. Other than Permitted Dispositions or transactions expressly permitted by Sections 6.3 or 6.9,
Borrower will not, and will not permit any of its Subsidiaries to convey, sell, lease, license, assign, transfer, or
otherwise dispose of (or enter into an agreement to convey, sell, lease, license, assign, transfer, or otherwise dispose
of) any of its or their assets (including by an allocation of assets among newly divided limited liability companies
pursuant to a "plan of division").

 

    -50-

     

    

 

6.5.           
Nature of Business. Borrower will not, and will not permit any of its Subsidiaries to make any change in the nature
of its or their business as described in Schedule 6.5 or acquire any properties or assets that are not reasonably related
to the conduct of such business activities; provided, that the foregoing shall not prevent Borrower and its Subsidiaries
from engaging in any business that is reasonably related or ancillary to its or their business.

 

6.6.           
Prepayments and Amendments. Borrower will not, and will not permit any of its Subsidiaries to,

 

(a)              
Except in connection with Refinancing Indebtedness permitted by Section 6.1,

 

(i)                
optionally prepay, redeem, defease, purchase, or otherwise acquire any Indebtedness of Borrower or its Subsidiaries, other
than (A) the Obligations in accordance with this Agreement, (B) Permitted Intercompany Advances, or (C) Seller Subordinated Indebtedness
(so long as, in each case under this clause (C), such payment is permitted by the applicable subordination agreement or provisions
with respect to such promissory note),

 

(ii)             
make any payment on account of Indebtedness that has been contractually subordinated in right of payment to the Obligations
if such payment is not permitted at such time under the subordination terms and conditions, or

 

(b)              
Directly or indirectly, amend, modify, or change any of the terms or provisions of:

 

(i)                
any agreement, instrument, document, indenture, or other writing evidencing or concerning Permitted Indebtedness other than
(A) the Obligations in accordance with this Agreement, (B) Permitted Intercompany Advances, and (C) Indebtedness
permitted under clauses (c), (h), (j) and (k) of the definition of Permitted Indebtedness,
or

 

(ii)             
the Governing Documents of any Loan Party or any of its Subsidiaries if the effect thereof, either individually or in the
aggregate, could reasonably be expected to be materially adverse to the interests of the Lenders.

 

6.7.           
Restricted Payments. Borrower will not, and will not permit any of its Subsidiaries to make any Restricted Payment;
provided, that, so long as it is permitted by law, and so long as no Default or Event of Default shall have occurred and
be continuing or would result therefrom,

 

(a)               Borrower
may make distributions to former employees, officers, or directors of Borrower (or any spouses, ex-spouses, or estates of any
of the foregoing) on account of redemptions of Equity Interests of Borrower held by such Persons, provided, that
the aggregate amount of such redemptions made by Borrower during the term of this Agreement plus the amount of
Indebtedness outstanding under clause (l) of the definition of Permitted Indebtedness, does not exceed $500,000 in the
aggregate, and

 

    -51-

     

    

 

(b)              
Borrower may make distributions to former employees, officers, or directors of Borrower (or any spouses, ex-spouses, or
estates of any of the foregoing), solely in the form of forgiveness of Indebtedness of such Persons owing to Borrower on account
of repurchases of the Equity Interests of Borrower held by such Persons; provided that such Indebtedness was incurred by
such Persons solely to acquire Equity Interests of Borrower.

 

6.8.           
Accounting Methods. Borrower will not, and will not permit any of its Subsidiaries to modify or change its fiscal
year or its method of accounting (other than as may be required to conform to GAAP).

 

6.9.           
Investments. Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, make or acquire
any Investment or incur any liabilities (including contingent obligations) for or in connection with any Investment except
for Permitted Investments.

 

6.10.       
Transactions with Affiliates. Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly,
enter into or permit to exist any transaction with any Affiliate of Borrower or any of its Subsidiaries except for:

 

(a)              
transactions (other than the payment of management, consulting, monitoring, or advisory fees) between Borrower or its
Subsidiaries, on the one hand, and any Affiliate of Borrower or its Subsidiaries, on the other hand, so long as such transactions
(i) are fully disclosed to Agent prior to the consummation thereof, if they involve one or more payments by Borrower or its
Subsidiaries in excess of $100,000 for any single transaction or series of related transactions, and (ii) are no less favorable,
taken as a whole, to Borrower or its Subsidiaries, as applicable, than would be obtained in an arm's length transaction with a
non-Affiliate,

 

(b)              
so long as it has been approved by Borrower's or its applicable Subsidiary's board of directors (or comparable governing
body) in accordance with applicable law, any indemnity provided for the benefit of directors (or comparable managers) of
Borrower or its applicable Subsidiary,

 

(c)              
so long as it has been approved by Borrower's or its applicable Subsidiary's board of directors (or comparable governing
body) in accordance with applicable law, the payment of reasonable compensation, severance, or employee benefit arrangements
to employees, officers, and outside directors of Borrower and its Subsidiaries in the ordinary course of business and consistent
with industry practice, and

 

(d)              
transactions permitted by Section 6.3 or Section 6.7, or any Permitted Intercompany Advance.

 

    -52-

     

    

 

6.11.        Use
of Proceeds. Borrower will not, and will not permit any of its Subsidiaries to use the proceeds of any loan made
hereunder for any purpose other than (a) on the Closing Date, to pay the fees, costs, and expenses incurred in
connection with this Agreement, the other Loan Documents, and (b) thereafter, consistent with the terms and conditions
hereof, for their lawful and permitted purposes; provided that (x) no part of the proceeds of the Loans will be used to
purchase or carry any such Margin Stock or to extend credit to others for the purpose of purchasing or carrying any such
Margin Stock or for any purpose that violates the provisions of Regulation T, U or X of the Board of Governors, (y) no part
of the proceeds of any Loan or Letter of Credit will be used, directly or indirectly, to make any payments to a Sanctioned
Entity or a Sanctioned Person, to fund any investments, loans or contributions in, or otherwise make such proceeds available
to, a Sanctioned Entity or a Sanctioned Person, to fund any operations, activities or business of a Sanctioned Entity or a
Sanctioned Person, or in any other manner that would result in a violation of Sanctions by any Person, and (z) that no part
of the proceeds of any Loan or Letter of Credit will be used, directly or indirectly, in furtherance of an offer, payment,
promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of
any Sanctions, Anti-Corruption Laws or Anti-Money Laundering Laws.

 

6.12.       
Limitation on Issuance of Equity Interests. Except for the issuance or sale of Qualified Equity Interests by Borrower,
Borrower will not, and will not permit any of its Subsidiaries to issue or sell or enter into any agreement or arrangement for
the issuance or sale of any of its Equity Interests.

 

6.13.       
Anti-Corruption Laws/Sanctions. No Loan Party shall (and each Loan Party shall ensure that none of its Subsidiaries
will) (a) directly or, to its knowledge, indirectly use the proceeds of the credit facilities contemplated hereunder for any purpose
which would breach any Anti-Corruption Law or (b) use, lend, make payments of, contribute or otherwise make available, all or any
part of the proceeds of the facilities contemplated hereunder to fund or finance any business activities or transactions (i) of
or with a Sanctioned Person or Sanctioned Entity or (ii) in any other manner which would result in any Loan Party (or any of its
Subsidiaries) or any member of the Lender Group being in breach of any Sanctions or becoming a Sanctioned Person or Sanctioned
Entity.

 

7.                 
FINANCIAL COVENANTS.

 

Borrower covenants
and agrees that, until termination of all of the Commitments and payment in full of the Obligations, Borrower will:

 

(a)              
Minimum EBITDA. Achieve EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the
following table for the applicable period set forth opposite thereto:

 

	Minimum EBITDA	Applicable Period
	$3,750,000	For
    the one quarter period ending March 31, 2020
	$4,850,000	For
    the two quarter period ending June 30, 2020
	$5,950,000	For
    the three quarter period ending September 30, 2020

 

    -53-

     

    

 

(b)              
Fixed Charge Coverage Ratio. Have a Fixed Charge Coverage Ratio, measured on a quarter-end basis, of not less than
the applicable ratio set forth in the following table for the applicable period set forth opposite thereto:

 

	Applicable Ratio	Applicable Period
	1.00:1.00	For
    the one quarter period ending March 31, 2020
	1.00:1.00	For
    the two quarter period ending June 30, 2020
	1.00:1.00	For
    the three quarter period ending September 30, 2020
	1.00:1.00	For
    the four quarter period ending December 31, 2020
	1.00:1.00	For
    the four quarter period ending March 31, 2021
	1.00:1.00	For
    the four quarter period ending June 30, 2021
	1.00:1.00	For
    the four quarter period ending September 30, 2021
	1.00:1.00	For
    the four quarter period ending December 31, 2021
	1.50:1.00	For
    the four quarter period ending March 31, 2022
	1.60:1.00	For
    the four quarter period ending June 30, 2022
	2.00:1.00	For
    the four quarter period ending September 30, 2022 and each quarter-end thereafter

 

    -54-

     

    

 

(c)              
Leverage Ratio. Have a Leverage Ratio, measured on a quarter-end basis, of not greater than the applicable ratio
set forth in the following table for the applicable date set forth opposite thereto:

 

	Applicable Ratio	Applicable Date(s)
	3.50:1.00	December 31, 2020
	3.25:1.00	March 31, 2021
	3.25:1.00	June 30, 2021
	2.50:1.00	September 30, 2021 and each quarter-end thereafter

 

	8.	EVENTS OF DEFAULT.

 

Any one or more of
the following events shall constitute an event of default (each, an "Event of Default") under this Agreement:

 

8.1.           
Payments. If Borrower fails to pay when due and payable, or when declared due and payable, (a) all or any portion
of the Obligations consisting of interest, fees, or charges due the Lender Group, reimbursement of Lender Group Expenses, or other
amounts (other than any portion thereof constituting principal) constituting Obligations (including any portion thereof that
accrues after the commencement of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a
claim in any such Insolvency Proceeding), and such failure continues for a period of 3 Business Days, (b) all or any portion
of the principal of the Loans, or (c) any amount payable to Issuing Bank in reimbursement of any drawing under a Letter of
Credit;

 

8.2.           
Covenants. If any Loan Party or any of its Subsidiaries:

 

(a)              
fails to perform or observe any covenant or other agreement contained in any of (i) Sections 3.6, 5.1,
5.2, 5.3 (solely if Borrower is not in good standing in its jurisdiction of organization), 5.6, 5.7
(solely if Borrower refuses to allow Agent or its representatives or agents to visit Borrower's properties, inspect its assets
or books or records, examine and make copies of its books and records, or discuss Borrower's affairs, finances, and accounts with
officers and employees of Borrower), 5.10, 5.11, 5.13, or 5.14 of this Agreement, (ii) Section 6
of this Agreement, (iii) Section 7 of this Agreement, or (iv) Section 7 of the Guaranty and Security
Agreement;

 

(b)              
fails to perform or observe any covenant or other agreement contained in any of Sections 5.3 (other than if Borrower
is not in good standing in its jurisdiction of organization), 5.4, 5.5, 5.8, and 5.12 of this Agreement
and such failure continues for a period of 15 days after the earlier of (i) the date on which such failure shall first become
known to any officer of Borrower or (ii) the date on which written notice thereof is given to Borrower by Agent; or

 

    -55-

     

    

 

(c)              
fails to perform or observe any covenant or other agreement contained in this Agreement, or in any of the other Loan Documents,
in each case, other than any such covenant or agreement that is the subject of another provision of this Section 8
(in which event such other provision of this Section 8 shall govern), and such failure continues for a period of 30
days after the earlier of (i) the date on which such failure shall first become known to any officer of Borrower or (ii) the
date on which written notice thereof is given to Borrower by Agent;

 

8.3.           
Judgments. If one or more judgments, orders, or awards for the payment of money involving an aggregate amount of
$250,000, or more (except to the extent fully covered (other than to the extent of customary deductibles) by insurance pursuant
to which the insurer has not denied coverage) is entered or filed against a Loan Party or any of its Subsidiaries, or with
respect to any of their respective assets, and either (a) there is a period of 30 consecutive days at any time after the entry
of any such judgment, order, or award during which (1) the same is not discharged, satisfied, vacated, or bonded pending appeal,
or (2) a stay of enforcement thereof is not in effect, or (b) enforcement proceedings are commenced upon such judgment,
order, or award;

 

8.4.           
Voluntary Bankruptcy, etc. If an Insolvency Proceeding is commenced by a Loan Party or any of its Subsidiaries;

 

8.5.           
Involuntary Bankruptcy, etc. If an Insolvency Proceeding is commenced against a Loan Party or any of its Subsidiaries
and any of the following events occur: (a) such Loan Party or such Subsidiary consents to the institution of such Insolvency
Proceeding against it, (b) the petition commencing the Insolvency Proceeding is not timely controverted, (c) the petition
commencing the Insolvency Proceeding is not dismissed within 60 calendar days of the date of the filing thereof, (d) an interim
trustee is appointed to take possession of all or any substantial portion of the properties or assets of, or to operate all or
any substantial portion of the business of, such Loan Party or its Subsidiary, or (e) an order for relief shall have been
issued or entered therein;

 

8.6.           
Default Under Other Agreements. If there is (a) a default beyond any applicable grace period in one or more
agreements to which a Loan Party or any of its Subsidiaries is a party with one or more third Persons relative to a Loan Party's
or any of its Subsidiaries' Indebtedness involving an aggregate amount of $250,000 or more, and such default (i) occurs at
the final maturity of the obligations thereunder, or (ii) results in a right by such third Person, irrespective of whether
exercised, to accelerate the maturity of such Loan Party's or its Subsidiary's obligations thereunder, or (b) a default in
(beyond any applicable grace period) or an involuntary early termination of one or more Hedge Agreements to which a Loan Party
or any of its Subsidiaries is a party;

 

8.7.           
Representations, etc. If any warranty, representation, certificate, statement, or Record made herein or in any other
Loan Document or delivered in writing to Agent or any Lender in connection with this Agreement or any other Loan Document proves
to be untrue in any material respect (except that such materiality qualifier shall not be applicable to any representations and
warranties that already are qualified or modified by materiality in the text thereof) as of the date of issuance or making
or deemed making thereof;

 

    -56-

     

    

 

8.8.           
Guaranty. If the obligation of any Guarantor under the guaranty contained in the Guaranty and Security Agreement
is limited or terminated by operation of law or by such Guarantor (other than in accordance with the terms of this Agreement) or
if any Guarantor repudiates or revokes or purports to repudiate or revoke any such guaranty;

 

8.9.           
Security Documents. If the Guaranty and Security Agreement or any other Loan Document that purports to create a Lien,
shall, for any reason, fail or cease to create a valid and perfected and, except to the extent of Permitted Liens which are non-consensual
Permitted Liens, permitted purchase money Liens or the interests of lessors under Capital Leases, first priority Lien on the Collateral
covered thereby, except (a) as a result of a disposition of the applicable Collateral in a transaction permitted under this
Agreement, or (b) as the result of an action or failure to act on the part of Agent;

 

8.10.         
Loan Documents. The validity or enforceability of any Loan Document shall at any time for any reason (other than
solely as the result of an action or failure to act on the part of Agent) be declared to be null and void, or a proceeding
shall be commenced by a Loan Party or its Subsidiaries, or by any Governmental Authority having jurisdiction over a Loan Party
or its Subsidiaries, seeking to establish the invalidity or unenforceability thereof, or a Loan Party or its Subsidiaries shall
deny that such Loan Party or its Subsidiaries has any liability or obligation purported to be created under any Loan Document;
or

 

8.11.         
Change of Control. A Change of Control shall occur, whether directly or indirectly.

 

	9.	RIGHTS AND REMEDIES.

 

9.1.           
Rights and Remedies. Upon the occurrence and during the continuation of an Event of Default, Agent may, and, at the
instruction of the Required Lenders, shall (in each case under clauses (a) or (b) by written notice to Borrower), in
addition to any other rights or remedies provided for hereunder or under any other Loan Document or by applicable law, do any one
or more of the following:

 

(a)              
(i) declare the principal of, and any and all accrued and unpaid interest and fees in respect of, the Loans and all
other Obligations (other than the Bank Product Obligations), whether evidenced by this Agreement or by any of the other Loan Documents
to be immediately due and payable, whereupon the same shall become and be immediately due and payable and Borrower shall be obligated
to repay all of such Obligations in full, without presentment, demand, protest, or further notice or other requirements of any
kind, all of which are hereby expressly waived by Borrower, and (ii) direct Borrower to provide (and Borrower agrees that
upon receipt of such notice it will provide) Letter of Credit Collateralization to Agent to be held as security for Borrower's
reimbursement obligations for drawings that may subsequently occur under issued and outstanding Letters of Credit;

 

(b)              
declare the Commitments terminated, whereupon the Commitments shall immediately be terminated together with (i) any
obligation of any Revolving Lender to make Revolving Loans, (ii) the obligation of the Swing Lender to make Swing Loans, and
(iii) the obligation of Issuing Bank to issue Letters of Credit; and

 

    -57-

     

    

 

(c)              
exercise all other rights and remedies available to Agent or the Lenders under the Loan Documents, under applicable law,
or in equity.

 

The foregoing to the contrary notwithstanding,
upon the occurrence of any Event of Default described in Section 8.4 or Section 8.5, in addition to the
remedies set forth above, without any notice to Borrower or any other Person or any act by the Lender Group, the Commitments shall
automatically terminate and the Obligations (other than the Bank Product Obligations), inclusive of the principal of, and any and
all accrued and unpaid interest and fees in respect of, the Loans and all other Obligations (other than the Bank Product Obligations),
whether evidenced by this Agreement or by any of the other Loan Documents, shall automatically become and be immediately due and
payable and Borrower shall automatically be obligated to repay all of such Obligations in full (including Borrower being obligated
to provide (and Borrower agrees that it will provide) (1) Letter of Credit Collateralization to Agent to be held as security
for Borrower's reimbursement obligations in respect of drawings that may subsequently occur under issued and outstanding Letters
of Credit, and (2) Bank Product Collateralization to be held as security for Borrower's or its Subsidiaries' obligations in
respect of outstanding Bank Products), without presentment, demand, protest, or notice or other requirements of any kind, are all
expressly waived by Borrower.

 

9.2.           
Remedies Cumulative. The rights and remedies of the Lender Group under this Agreement, the other Loan Documents,
and all other agreements shall be cumulative. The Lender Group shall have all other rights and remedies not inconsistent herewith
as provided under the Code, by law, or in equity. No exercise by the Lender Group of one right or remedy shall be deemed an election,
and no waiver by the Lender Group of any Event of Default shall be deemed a continuing waiver. No delay by the Lender Group shall
constitute a waiver, election, or acquiescence by it.

 

	10.	WAIVERS; INDEMNIFICATION.

 

10.1.         
Demand; Protest; etc. Borrower waives demand, protest, notice of protest, notice of default or dishonor, notice of
payment and nonpayment, nonpayment at maturity, release, compromise, settlement, extension, or renewal of documents, instruments,
chattel paper, and guarantees at any time held by the Lender Group on which Borrower may in any way be liable.

 

10.2.         
The Lender Group's Liability for Collateral. Borrower hereby agrees that: (a) so long as Agent complies with
its obligations, if any, under the Code, the Lender Group shall not in any way or manner be liable or responsible for: (i) the
safekeeping of the Collateral, (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause,
(iii) any diminution in the value thereof, or (iv) any act or default of any carrier, warehouseman, bailee, forwarding
agency, or other Person, and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrower.

 

    -58-

     

    

 

10.3.          Indemnification.
Borrower shall pay, indemnify, defend, and hold the Agent-Related Persons, the Lender-Related Persons, and each Participant
(each, an "Indemnified Person") harmless (to the fullest extent permitted by law) from and against
any and all claims, demands, suits, actions, investigations, proceedings, liabilities, fines, costs, penalties, and damages,
and all reasonable fees and disbursements of attorneys, experts, or consultants and all other costs and expenses
actually incurred in connection therewith or in connection with the enforcement of this indemnification (as and when they are
incurred and irrespective of whether suit is brought), at any time asserted against, imposed upon, or incurred by any of them
(a) in connection with or as a result of or related to the execution and delivery (provided that Borrower shall
not be liable for costs and expenses (including attorneys' fees) of any Lender (other than an Initial Lender) incurred
in advising, structuring, drafting, reviewing, administering or syndicating the Loan Documents), enforcement, performance, or
administration (including any restructuring or workout with respect hereto) of this Agreement, any of the other Loan
Documents, or the transactions contemplated hereby or thereby or the monitoring of Borrower's and its Subsidiaries'
compliance with the terms of the Loan Documents (provided, that the indemnification in this clause (a) shall not
extend to (i) disputes solely between or among the Lenders that do not involve any acts or omissions of any Loan Party,
or (ii) disputes solely between or among the Lenders and their respective Affiliates that do not involve any acts or
omissions of any Loan Party; it being understood and agreed that the indemnification in this clause (a) shall extend to Agent
(but not the Lenders unless the dispute involves an act or omission of a Loan Party) relative to disputes between or among
Agent on the one hand, and one or more Lenders, or one or more of their Affiliates, on the other hand, or (iii) any claims
Taxes, which shall be governed by Section 16), other than Taxes which relate to primarily non-Tax claims),
(b) with respect to any actual or prospective investigation, litigation, or proceeding related to this Agreement, any
other Loan Document, the making of any Loans or issuance of any Letters of Credit hereunder, or the use of the proceeds of
the Loans or the Letters of Credit provided hereunder (irrespective of whether any Indemnified Person is a party thereto), or
any act, omission, event, or circumstance in any manner related thereto, and (c) in connection with or arising out of
any presence or release of Hazardous Materials at, on, under, to or from any assets or properties owned, leased or operated
by Borrower or any of its Subsidiaries or any Environmental Actions, Environmental Liabilities or Remedial Actions related in
any way to any such assets or properties of Borrower or any of its Subsidiaries (each and all of the foregoing,
the "Indemnified Liabilities"). The foregoing to the contrary notwithstanding, Borrower shall have no
obligation to any Indemnified Person under this Section 10.3 with respect to any Indemnified Liability that a
court of competent jurisdiction finally determines to have resulted from the gross negligence or willful misconduct of such
Indemnified Person or its officers, directors, employees, attorneys, or agents. This provision shall survive the termination
of this Agreement and the repayment in full of the Obligations. If any Indemnified Person makes any payment to any other
Indemnified Person with respect to an Indemnified Liability as to which Borrower was required to indemnify the Indemnified
Person receiving such payment, the Indemnified Person making such payment is entitled to be indemnified and reimbursed by
Borrower with respect thereto. WITHOUT LIMITATION, THE FOREGOING INDEMNITY SHALL APPLY TO EACH INDEMNIFIED PERSON WITH
RESPECT TO INDEMNIFIED LIABILITIES WHICH IN WHOLE OR IN PART ARE CAUSED BY OR ARISE OUT OF ANY NEGLIGENT ACT OR OMISSION OF
SUCH INDEMNIFIED PERSON OR OF ANY OTHER PERSON.

 

    -59-

     

    

 

	11.	NOTICES.

 

Unless otherwise
provided in this Agreement, all notices, demands or requests for consent relating to this Agreement or any other Loan
Document shall be in writing and (except for financial statements and other informational documents which may be sent by
first-class mail, postage prepaid) shall be personally delivered or sent by registered or certified mail (postage
prepaid, return receipt requested), overnight courier, electronic mail (at such email addresses as a party may designate in
accordance herewith), or telefacsimile. In the case of notices, demands or requests for consent to Borrower to any Loan Party
or Agent, as the case may be, they shall be sent to the respective address set forth below:

 

ASURE SOFTWARE, INC.
 3700 N. Capital of Texas Hwy
 Suite 350
 Austin, TX 78746
 Attn: Kelyn Brannon, CFO
 Fax No.: (512) 437-2365

 

with copies to:
 
 MESSERLI & KRAMER
 1400 Fifth Street Towers
 100 South Fifth Street
 Minneapolis, MN 55402

Attn: Katheryn A. Gettman, Esq.  

Fax No.: (612) 672-3777  

 

If to Agent:
 
 WELLS FARGO BANK, NATIONAL ASSOCIATION
 2450 Colorado Avenue, Suite 3000 West
 Santa Monica, CA 90404
 Attn: Technology Finance Manager
 Fax No.: (310) 453-7413

 

with copies to:
 
 GOLDBERG KOHN LTD.
 55 East Monroe Street, Suite 3300
 Chicago, Illinois 60603
 Attn: William A. Starshak, Esq. 
 Fax No.:  (312) 863-7426

 

Any party
hereto may change the address at which they are to receive notices, demands or requests for consent hereunder, by notice in
writing in the foregoing manner given to the other party. All notices, demands or requests for consent sent in accordance
with this Section 11, shall be deemed received on the earlier of the date of actual receipt or 3 Business Days
after the deposit thereof in the mail; provided, that (a) notices, demands or requests for consent sent by
overnight courier service shall be deemed to have been given when received, (b) notices by facsimile shall be deemed to
have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed
to have been given at the opening of business on the next Business Day for the recipient) and (c) notices, demands
or requests for consent by electronic mail shall be deemed received upon the sender's receipt of an acknowledgment from the
intended recipient (such as by the "return receipt requested" function, as available, return email or other written
acknowledgment).

 

    -60-

     

    

 

	12.	CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER; JUDICIAL
REFERENCE PROVISION.

 

(a)              
THE VALIDITY OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (UNLESS EXPRESSLY PROVIDED TO THE CONTRARY IN ANOTHER LOAN DOCUMENT
IN RESPECT OF SUCH OTHER LOAN DOCUMENT), THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF AND THEREOF, THE RIGHTS OF THE
PARTIES HERETO AND THERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO, AND ANY CLAIMS,
CONTROVERSIES OR DISPUTES ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO SHALL BE DETERMINED UNDER, GOVERNED BY,
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA.

 

(b)              
THE PARTIES AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING IN CONNECTION WITH THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
SHALL BE TRIED AND LITIGATED ONLY IN THE STATE AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, FEDERAL COURTS LOCATED IN THE COUNTY
OF LOS ANGELES, STATE OF CALIFORNIA; PROVIDED, THAT ANY SUIT SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER PROPERTY
MAY BE BROUGHT, AT AGENT'S OPTION, IN THE COURTS OF ANY JURISDICTION WHERE AGENT ELECTS TO BRING SUCH ACTION OR WHERE SUCH COLLATERAL
OR OTHER PROPERTY MAY BE FOUND. BORROWER AND EACH MEMBER OF THE LENDER GROUP WAIVE, TO THE EXTENT PERMITTED UNDER APPLICABLE LAW,
ANY RIGHT EACH MAY HAVE TO ASSERT THE DOCTRINE OF FORUM NON CONVENIENS OR TO OBJECT TO VENUE TO THE EXTENT ANY PROCEEDING
IS BROUGHT IN ACCORDANCE WITH THIS SECTION 12(b).

 

(c)              
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, BORROWER AND EACH MEMBER OF THE LENDER GROUP HEREBY WAIVE THEIR RESPECTIVE
RIGHTS, IF ANY, TO A JURY TRIAL OF ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION DIRECTLY OR INDIRECTLY BASED UPON OR ARISING
OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH
OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS (EACH A "CLAIM"). BORROWER AND EACH MEMBER OF THE
LENDER GROUP REPRESENT THAT EACH HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING
CONSULTATION WITH LEGAL COUNSEL. IN THE EVENT OF LITIGATION, A COPY OF THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL
BY THE COURT.

 

    -61-

     

    

 

(d)              
BORROWER HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED
IN THE COUNTY OF LOS ANGELES AND THE STATE OF CALIFORNIA, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS,
OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR
PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED
BY LAW. NOTHING IN THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT AGENT MAY OTHERWISE HAVE TO BRING ANY
ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS
OF ANY JURISDICTION.

 

(e)              
NO CLAIM MAY BE MADE BY ANY LOAN PARTY AGAINST THE AGENT, THE SWING LENDER, ANY OTHER LENDER, ISSUING BANK, OR ANY AFFILIATE,
DIRECTOR, OFFICER, EMPLOYEE, COUNSEL, REPRESENTATIVE, AGENT, OR ATTORNEY-IN-FACT OF ANY OF THEM FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL,
PUNITIVE OR EXEMPLARY DAMAGES OR LOSSES IN RESPECT OF ANY CLAIM FOR BREACH OF CONTRACT OR ANY OTHER THEORY OF LIABILITY ARISING
OUT OF OR RELATED TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR ANY ACT, OMISSION, OR EVENT
OCCURRING IN CONNECTION THEREWITH, AND EACH LOAN PARTY HEREBY WAIVES, RELEASES, AND AGREES NOT TO SUE UPON ANY CLAIM FOR SUCH DAMAGES,
WHETHER OR NOT ACCRUED AND WHETHER OR NOT KNOWN OR SUSPECTED TO EXIST IN ITS FAVOR.

 

(f)               
IN THE EVENT ANY LEGAL PROCEEDING IS FILED IN A COURT OF THE STATE OF CALIFORNIA (THE "COURT") BY
OR AGAINST ANY PARTY HERETO IN CONNECTION WITH ANY CLAIM AND THE WAIVER SET FORTH IN CLAUSE (C) ABOVE IS NOT ENFORCEABLE IN
SUCH PROCEEDING, THE PARTIES HERETO AGREE AS FOLLOWS:

 

(i)               WITH
THE EXCEPTION OF THE MATTERS SPECIFIED IN SUBCLAUSE (ii) BELOW, ANY CLAIM SHALL BE DETERMINED BY A GENERAL REFERENCE PROCEEDING
IN ACCORDANCE WITH THE PROVISIONS OF CALIFORNIA CODE OF CIVIL PROCEDURE SECTIONS 638 THROUGH 645.1. THE PARTIES INTEND THIS GENERAL
REFERENCE AGREEMENT TO BE SPECIFICALLY ENFORCEABLE. VENUE FOR THE REFERENCE PROCEEDING SHALL BE IN THE COUNTY OF LOS ANGELES,
CALIFORNIA.

 

(ii)              THE
FOLLOWING MATTERS SHALL NOT BE SUBJECT TO A GENERAL REFERENCE PROCEEDING: (A) NON-JUDICIAL FORECLOSURE OF ANY SECURITY
INTERESTS IN REAL OR PERSONAL PROPERTY, (B) EXERCISE OF SELF-HELP REMEDIES (INCLUDING SET-OFF OR RECOUPMENT),
(C) APPOINTMENT OF A RECEIVER, AND (D) TEMPORARY, PROVISIONAL, OR ANCILLARY REMEDIES (INCLUDING WRITS OF
ATTACHMENT, WRITS OF POSSESSION, TEMPORARY RESTRAINING ORDERS, OR PRELIMINARY INJUNCTIONS). THIS AGREEMENT DOES NOT LIMIT THE
RIGHT OF ANY PARTY TO EXERCISE OR OPPOSE ANY OF THE RIGHTS AND REMEDIES DESCRIBED IN CLAUSES (A) - (D) AND ANY SUCH
EXERCISE OR OPPOSITION DOES NOT WAIVE THE RIGHT OF ANY PARTY TO PARTICIPATE IN A REFERENCE PROCEEDING PURSUANT TO THIS
AGREEMENT WITH RESPECT TO ANY OTHER MATTER.

 

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(iii)           
UPON THE WRITTEN REQUEST OF ANY PARTY, THE PARTIES SHALL SELECT A SINGLE REFEREE, WHO SHALL BE A RETIRED JUDGE OR JUSTICE.
IF THE PARTIES DO NOT AGREE UPON A REFEREE WITHIN 10 DAYS OF SUCH WRITTEN REQUEST, THEN, ANY PARTY SHALL HAVE THE RIGHT TO REQUEST
THE COURT TO APPOINT A REFEREE PURSUANT TO CALIFORNIA CODE OF CIVIL PROCEDURE SECTION 640(B). THE REFEREE SHALL BE APPOINTED
TO SIT WITH ALL OF THE POWERS PROVIDED BY LAW. PENDING APPOINTMENT OF THE REFEREE, THE COURT SHALL HAVE THE POWER TO ISSUE TEMPORARY
OR PROVISIONAL REMEDIES.

 

(iv)            
EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE REFEREE SHALL DETERMINE THE MANNER IN WHICH THE REFERENCE PROCEEDING
IS CONDUCTED INCLUDING THE TIME AND PLACE OF HEARINGS, THE ORDER OF PRESENTATION OF EVIDENCE, AND ALL OTHER QUESTIONS THAT ARISE
WITH RESPECT TO THE COURSE OF THE REFERENCE PROCEEDING. ALL PROCEEDINGS AND HEARINGS CONDUCTED BEFORE THE REFEREE, EXCEPT FOR TRIAL,
SHALL BE CONDUCTED WITHOUT A COURT REPORTER, EXCEPT WHEN ANY PARTY SO REQUESTS A COURT REPORTER AND A TRANSCRIPT IS ORDERED, A
COURT REPORTER SHALL BE USED AND THE REFEREE SHALL BE PROVIDED A COURTESY COPY OF THE TRANSCRIPT. THE PARTY MAKING SUCH REQUEST
SHALL HAVE THE OBLIGATION TO ARRANGE FOR AND PAY THE COSTS OF THE COURT REPORTER, PROVIDED THAT SUCH COSTS, ALONG WITH THE REFEREE'S
FEES, SHALL ULTIMATELY BE BORNE BY THE PARTY WHO DOES NOT PREVAIL, AS DETERMINED BY THE REFEREE.

 

(v)             THE REFEREE MAY REQUIRE ONE OR MORE PREHEARING CONFERENCES. THE PARTIES HERETO SHALL BE ENTITLED TO DISCOVERY, AND THE REFEREE
SHALL OVERSEE DISCOVERY IN ACCORDANCE WITH THE RULES OF DISCOVERY, AND SHALL ENFORCE ALL DISCOVERY ORDERS IN THE SAME MANNER AS
ANY TRIAL COURT JUDGE IN PROCEEDINGS AT LAW IN THE STATE OF CALIFORNIA.

 

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(vi)            THE
REFEREE SHALL APPLY THE RULES OF EVIDENCE APPLICABLE TO PROCEEDINGS AT LAW IN THE STATE OF CALIFORNIA AND SHALL DETERMINE ALL
ISSUES IN ACCORDANCE WITH CALIFORNIA SUBSTANTIVE AND PROCEDURAL LAW. THE REFEREE SHALL BE EMPOWERED TO ENTER EQUITABLE AS
WELL AS LEGAL RELIEF AND RULE ON ANY MOTION WHICH WOULD BE AUTHORIZED IN A TRIAL, INCLUDING MOTIONS FOR DEFAULT JUDGMENT OR
SUMMARY JUDGMENT. THE REFEREE SHALL REPORT HIS OR HER DECISION, WHICH REPORT SHALL ALSO INCLUDE FINDINGS OF FACT AND
CONCLUSIONS OF LAW. THE REFEREE SHALL ISSUE A DECISION AND PURSUANT TO CALIFORNIA CODE OF CIVIL PROCEDURE, SECTION 644,
THE REFEREE'S DECISION SHALL BE ENTERED BY THE COURT AS A JUDGMENT IN THE SAME MANNER AS IF THE ACTION HAD BEEN TRIED BY THE
COURT. THE FINAL JUDGMENT OR ORDER FROM ANY APPEALABLE DECISION OR ORDER ENTERED BY THE REFEREE SHALL BE FULLY APPEALABLE AS
IF IT HAS BEEN ENTERED BY THE COURT.

 

(vii)         
THE PARTIES RECOGNIZE AND AGREE THAT ALL CLAIMS RESOLVED IN A GENERAL REFERENCE PROCEEDING PURSUANT HERETO WILL BE DECIDED
BY A REFEREE AND NOT BY A JURY. AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF THEIR OWN CHOICE,
EACH PARTY HERETO KNOWINGLY AND VOLUNTARILY AND FOR THEIR MUTUAL BENEFIT AGREES THAT THIS REFERENCE PROVISION SHALL APPLY TO ANY
DISPUTE BETWEEN THEM THAT ARISES OUT OF OR IS RELATED TO THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS.

 

	13.	ASSIGNMENTS AND PARTICIPATIONS; SUCCESSORS.

 

13.1.       
Assignments and Participations.

 

(a)           (i)      
Subject to the conditions set forth in clause (a)(ii) below, any Lender may assign and delegate all or any portion of
its rights and duties under the Loan Documents (including the Obligations owed to it and its Commitments) to one or
more assignees (each, an "Assignee"), with the prior written consent (such consent not be unreasonably
withheld or delayed) of:

 

(A)            
Borrower; provided, that no consent of Borrower shall be required (1) if an Event of Default has occurred and
is continuing, or (2) in connection with an assignment to a Person that is a Lender or an Affiliate (other than natural persons)
or Related Fund of a Lender; provided further, that Borrower shall be deemed to have consented to a proposed assignment
unless it objects thereto by written notice to Agent within 5 Business Days after having received notice thereof; and

 

(B)             
Agent, Swing Lender, and Issuing Bank; provided, that no consent of Agent, Swing Lender or Issuing Bank shall be
required (1) with respect to an Initial Lender, if an Event of Default has occurred and is continuing or (2) in connection
with an assignment to a Person that is a Lender or an Affiliate or Related Fund of a Lender.

 

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(ii)             
Assignments shall be subject to the following additional conditions:

 

(A)            
no assignment may be made to a natural person,

 

(B)             
no assignment may be made to a Loan Party or an Affiliate of a Loan Party,

 

(C)             
the amount of the Commitments and the other rights and obligations of the assigning Lender hereunder and under the other
Loan Documents subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment
is delivered to Agent) shall be in a minimum amount (unless waived by Agent) of $5,000,000 (except such minimum amount
shall not apply to (I) an assignment or delegation by any Lender to any other Lender, an Affiliate of any Lender, or a Related
Fund of such Lender or (II) a group of new Lenders, each of which is an Affiliate of each other or a Related Fund of such
new Lender to the extent that the aggregate amount to be assigned to all such new Lenders is at least $5,000,000),

 

(D)            
each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender's rights and
obligations under this Agreement,

 

(E)             
the parties to each assignment shall execute and deliver to Agent an Assignment and Acceptance; provided, that Borrower
and Agent may continue to deal solely and directly with the assigning Lender in connection with the interest so assigned to an
Assignee until written notice of such assignment, together with payment instructions, addresses, and related information with respect
to the Assignee, have been given to Borrower and Agent by such Lender and the Assignee,

 

(F)             
unless waived by Agent, the assigning Lender or Assignee has paid to Agent, for Agent's separate account, a processing fee
in the amount of $3,500 (except that no processing fee shall be due for an assignment by a Lender to one of its Affiliates or Related
Funds), and

 

(G)            
the assignee, if it is not a Lender, shall deliver to Agent an Administrative Questionnaire in a form approved by Agent
(the "Administrative Questionnaire").

 

(b)               From
and after the date that Agent receives the executed Assignment and Acceptance and, if applicable, payment of the
required processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and
obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall be a
"Lender" and shall have the rights and obligations of a Lender under the Loan Documents, and (ii) the
assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been
assigned by it pursuant to such Assignment and Acceptance, relinquish its rights (except with respect to Section 10.3) and
be released from any future obligations under  this Agreement (and in the case of an Assignment and Acceptance covering
all or the remaining portion of an assigning Lender's rights and obligations under this Agreement and the other Loan
Documents, such Lender shall cease to be a party hereto and thereto); provided, that nothing contained herein shall
release any assigning Lender from obligations that survive the termination of this Agreement, including such assigning
Lender's obligations under Section 15 and Section 17.9(a).

 

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(c)              
By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the Assignee thereunder confirm
to and agree with each other and the other parties hereto as follows: (i) other than as provided in such Assignment and Acceptance,
such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties
or representations made in or in connection with this Agreement or the execution, legality, validity, enforceability, genuineness,
sufficiency or value of this Agreement or any other Loan Document furnished pursuant hereto, (ii) such assigning Lender makes
no representation or warranty and assumes no responsibility with respect to the financial condition of Borrower or the performance
or observance by Borrower of any of its obligations under this Agreement or any other Loan Document furnished pursuant hereto,
(iii) such Assignee confirms that it has received a copy of this Agreement, together with such other documents and information
as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and Acceptance, (iv) such
Assignee will, independently and without reliance upon Agent, such assigning Lender or any other Lender, and based on such documents
and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action
under this Agreement, (v) such Assignee appoints and authorizes Agent to take such actions and to exercise such powers under
this Agreement and the other Loan Documents as are delegated to Agent, by the terms hereof and thereof, together with such powers
as are reasonably incidental thereto, and (vi) such Assignee agrees that it will perform all of the obligations which by the
terms of this Agreement are required to be performed by it as a Lender.

 

(d)              
Immediately upon Agent's receipt of the required processing fee, if applicable, and delivery of notice to the assigning
Lender pursuant to Section 13.1(b), this Agreement shall be deemed to be amended to the extent, but only to the extent,
necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment
allocated to each Assignee shall reduce such Commitments of the assigning Lender pro tanto.

 

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(e)               Any
Lender may at any time sell to one or more commercial banks, financial institutions, or other Persons (a "Participant") participating
interests in all or any portion of its Obligations, its Commitment, and the other rights and interests of that Lender (the "Originating
Lender") hereunder and under the other Loan Documents; provided, that (i) the Originating Lender shall
remain a "Lender" for all purposes of this Agreement and the other Loan Documents and the Participant receiving the
participating interest in the Obligations, the Commitments, and the other rights and interests of the Originating Lender hereunder
shall not constitute a "Lender" hereunder or under the other Loan Documents and the Originating Lender's obligations
under this Agreement shall remain unchanged, (ii) the Originating Lender shall remain solely responsible for the performance
of such obligations, (iii) Borrower, Agent, and the Lenders shall continue to deal solely and directly with the Originating
Lender in connection with the Originating Lender's rights and obligations under this Agreement and the other Loan Documents, (iv) no
Lender shall transfer or grant any participating interest under which the Participant has the right to approve any amendment to,
or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment to, or
consent or waiver with respect to this Agreement or of any other Loan Document would (A) extend the final maturity date of
the Obligations hereunder in which such Participant is participating, (B) reduce the interest rate applicable to the Obligations
hereunder in which such Participant is participating, (C) release all or substantially all of the Collateral or guaranties
(except to the extent expressly provided herein or in any of the Loan Documents) supporting the Obligations hereunder in
which such Participant is participating, (D) postpone the payment of, or reduce the amount of, the interest or fees payable
to such Participant through such Lender (other than a waiver of default interest), or (E) decreases the amount or postpones
the due dates of scheduled principal repayments or prepayments or premiums payable to such Participant through such Lender, (v) no
participation shall be sold to a natural person, (vi) no participation shall be sold to a Loan Party or an Affiliate of a
Loan Party, and (vii) all amounts payable by Borrower hereunder shall be determined as if such Lender had not sold such participation,
except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become
due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set off in respect
of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest
were owing directly to it as a Lender under this Agreement. The rights of any Participant only shall be derivative through the
Originating Lender with whom such Participant participates and no Participant shall have any rights under this Agreement or the
other Loan Documents or any direct rights as to the other Lenders, Agent, Borrower, the Collateral, or otherwise in respect of
the Obligations. No Participant shall have the right to participate directly in the making of decisions by the Lenders among themselves.

 

(f)               
In connection with any such assignment or participation or proposed assignment or participation or any grant of a security
interest in, or pledge of, its rights under and interest in this Agreement, a Lender may, subject to the provisions of Section 17.9,
disclose all documents and information which it now or hereafter may have relating to Borrower and its Subsidiaries and their respective
businesses.

 

(g)              
Any other provision in this Agreement notwithstanding, any Lender may at any time create a security interest in, or pledge,
all or any portion of its rights under and interest in this Agreement in favor of any Federal Reserve Bank in accordance with Regulation
A of the Federal Reserve Bank or U.S. Treasury Regulation 31 CFR §203.24, or in favor of any other lender or provider of financing
to such Lender, and such Federal Reserve Bank or financing source may enforce such pledge or security interest in any manner permitted
under applicable law.

 

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(h)               Agent,
acting solely for this purpose, as a non-fiduciary agent of Borrower, shall maintain, or cause to be maintained at one of its
offices in the United States of America, a register (the "Register") on which it enters the name and
address of each Lender as the registered owner of the Term Loan (and the principal amount thereof and stated
interest thereon) held by such Lender (each, a "Registered Loan"). The entries in the Register shall be
conclusive absent manifest error, and Borrower, Agent and the Lenders shall treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be
available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior
notice. Other than in connection with an assignment by a Lender of all or any portion of its portion of the Term Loan to an
Affiliate of such Lender or a Related Fund of such Lender (i) a Registered Loan (and the registered note, if any,
evidencing the same) may be assigned or sold in whole or in part only by registration of such assignment or sale on the
Register (and each registered note shall expressly so provide) and (ii) any assignment or sale of all or part of
such Registered Loan (and the registered note, if any, evidencing the same) may be effected only by registration of such
assignment or sale on the Register, together with the surrender of the registered note, if any, evidencing the same duly
endorsed by (or accompanied by a written instrument of assignment or sale duly executed by) the holder of such
registered note, whereupon, at the request of the designated assignee(s) or transferee(s), one or more new registered
notes in the same aggregate principal amount shall be issued to the designated assignee(s) or transferee(s). Prior to
the registration of assignment or sale of any Registered Loan (and the registered note, if any evidencing the same), Borrower
shall treat the Person in whose name such Registered Loan (and the registered note, if any, evidencing the same) is
registered as the owner thereof for the purpose of receiving all payments thereon and for all other purposes,
notwithstanding notice to the contrary. In the case of any assignment by a Lender of all or any portion of its Term Loan to
an Affiliate of such Lender or a Related Fund of such Lender, and which assignment is not recorded in the Register, the
assigning Lender, on behalf of Borrower, shall maintain a register comparable to the Register.

 

(i)                
Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of Borrower, maintain
(or cause to be maintained) a register on which it enters the name and address of each participant and the principal amounts (and
stated interest) of each participant's interest in the Loans or other obligations under the Loan Documents (the "Participant
Register"). A Registered Loan (and the Registered Note, if any, evidencing the same) may be participated in whole
or in part only by registration of such participation on the Participant Register (and each registered note shall expressly so
provide). Any participation of such Registered Loan (and the registered note, if any, evidencing the same) may be effected only
by the registration of such participation on the Participant Register. No Lender shall have any obligation to disclose all or any
portion of the Participant Register (including the identity of any participant or any information relating to a participant's interest
in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent
that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered
form under Section 5f.103-1(c) of the United States Treasury Regulations or as otherwise required by law. The entries in the
Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded
in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to
the contrary. For the avoidance of doubt, the Agent (in its capacity as Agent) shall have no responsibility for maintaining a Participant
Register.

 

(j)                 Agent
shall make a copy of the Register (and each Lender shall make a copy of its Participant Register in the extent it has
one) available for review by Borrower from time to time as Borrower may reasonably request; provided, however,
that Borrower shall not share any of the information contained in the Register or the Participant Register with any third
party except as necessary to establish that such commitments, loans or letters of credit or other obligations are in
registered form under Section 5f.103-1(c) of the United States Treasury Regulations.

 

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13.2.       
Successors. This Agreement shall bind and inure to the benefit of the respective successors and assigns of each of
the parties; provided, that Borrower may not assign this Agreement or any rights or duties hereunder without the Lenders'
prior written consent and any prohibited assignment shall be absolutely void ab initio. No consent to assignment by the
Lenders shall release Borrower from its Obligations. A Lender may assign this Agreement and the other Loan Documents and its rights
and duties hereunder and thereunder pursuant to Section 13.1 and, except as expressly required pursuant to Section 13.1,
no consent or approval by Borrower is required in connection with any such assignment.

 

	14.	AMENDMENTS; WAIVERS.

 

14.1.       
Amendments and Waivers.

 

(a)              
No amendment, waiver or other modification of any provision of this Agreement or any other Loan Document (other than Bank
Product Agreements or the Fee Letter (subject to Section 14.1(b)(i))), and no consent with respect to any departure by Borrower
or any Loan Party therefrom, shall be effective unless the same shall be in writing and signed by the Required Lenders (or by Agent
at the written request of the Required Lenders) and the Loan Parties that are party thereto and then any such waiver or consent
shall be effective, but only in the specific instance and for the specific purpose for which given; provided, that no such
waiver, amendment, or consent shall, unless in writing and signed by all of the Lenders directly affected thereby and all of the
Loan Parties that are party thereto, do any of the following:

 

(i)                
increase the amount of or extend the expiration date of any Commitment of any Lender or amend, modify, or eliminate the
last sentence of Section 2.4(c)(i),

 

(ii)               
postpone or delay any date fixed by this Agreement or any other Loan Document for any payment of principal, interest, fees,
or other amounts due hereunder or under any other Loan Document,

 

(iii)              
reduce the principal of, or the rate of interest on, any loan or other extension of credit hereunder, or reduce any fees
or other amounts payable hereunder or under any other Loan Document (except (y) in connection with the waiver of applicability
of Section 2.6(c) (which waiver shall be effective with the written consent of the Required Lenders), and (z) that
any amendment or modification of defined terms used in the financial covenants in this Agreement shall not constitute a reduction
in the rate of interest or a reduction of fees for purposes of this clause (iii)),

 

(iv)             
amend, modify, or eliminate this Section or any provision of this Agreement providing for consent or other action by
all Lenders,

 

(v)               
amend, modify, or eliminate Section 3.1 or 3.2,

 

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(vi)              
amend, modify, or eliminate Section 15.11,

 

(vii)             
other than as permitted by Section 15.11, release Agent's Lien in and to any of the Collateral,

 

(viii)            
amend, modify, or eliminate the definitions of "Required Lenders" or "Pro Rata Share",

 

(ix)              
contractually subordinate any of Agent's Liens,

 

(x)               
other than in connection with a merger, liquidation, dissolution or sale of such Person expressly permitted by the terms
hereof or the other Loan Documents, release Borrower or any Guarantor from any obligation for the payment of money or consent to
the assignment or transfer by Borrower or any Guarantor of any of its rights or duties under this Agreement or the other Loan Documents,

 

(xi)               amend, modify, or eliminate any of the provisions of Section 2.4(b)(i), (ii)
or (iii) or 2.4(f), or

 

(xii)             
amend, modify, or eliminate any of the provisions of Section 13.1 with respect to assignments to, or participations
with, Persons who are Loan Parties or an Affiliate of a Loan Party (any such change shall be deemed to directly affect all Lenders);

 

(b)              
No amendment, waiver, modification, or consent shall amend, modify, waive, or eliminate,

 

(i)                
(x) the definition of, or any of the terms or provisions of, the Fee Letter (other than Section 1 of Article A and Article
B of the Fee Letter), without the written consent of Agent and Borrower (and shall not require the written consent of any of the
Lenders) and (y) any of the terms or provisions of Sections 1, 3 or 4 of Article A and Article B of the Fee Letter or this
Section 14.1(b)(i), without the written consent of Agent, the Required Lenders, each of the Lenders directly affected thereby
and Borrower, or

 

(ii)              
any provision of Section 15 pertaining to Agent, or any other rights or duties of Agent under this Agreement
or the other Loan Documents, without the written consent of Agent, Borrower, and the Required Lenders;

 

(c)              
No amendment, waiver, modification, elimination, or consent shall amend, modify, or waive any provision of this Agreement
or the other Loan Documents pertaining to Issuing Bank, or any other rights or duties of Issuing Bank under this Agreement or the
other Loan Documents, without the written consent of Issuing Bank, Agent, Borrower, and the Required Lenders;

 

(d)              
No amendment, waiver, modification, elimination, or consent shall amend, modify, or waive any provision of this Agreement
or the other Loan Documents pertaining to Swing Lender, or any other rights or duties of Swing Lender under this Agreement or
the other Loan Documents, without the written consent of Swing Lender, Agent, Borrower, and the Required Lenders; and

 

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(e)              
Anything in this Section 14.1 to the contrary notwithstanding, (i) any amendment, modification, elimination,
waiver, consent, termination, or release of, or with respect to, any provision of this Agreement or any other Loan Document that
relates only to the relationship of the Lender Group among themselves, and that does not affect the rights or obligations of Borrower,
shall not require consent by or the agreement of any Loan Party, (ii) any amendment, waiver, modification, elimination, or
consent of or with respect to any provision of this Agreement or any other Loan Document may be entered into without the consent
of, or over the objection of, any Defaulting Lender other than any of the matters governed by Section 14.1(a)(i) through
(iii) that affect such Lender, and (iii) any amendment contemplated by Section 2.12(d)(iii) of this Agreement
in connection with a Benchmark Transition Event or an Early Opt-in Election shall be effective as contemplated by such Section
2.12(d)(iii) hereof.

 

14.2.       
Replacement of Certain Lenders.

 

(a)              
If (i) any action to be taken by the Lender Group or Agent hereunder requires the consent, authorization, or agreement
of all Lenders or all Lenders affected thereby and if such action has received the consent, authorization, or agreement of the
Required Lenders but not of all Lenders or all Lenders affected thereby, or (ii) any Lender makes a claim for compensation
under Section 16, then Borrower or Agent, upon at least 5 Business Days prior irrevocable notice, may permanently replace
any Lender that failed to give its consent, authorization, or agreement (a "Non-Consenting Lender") or any
Lender that made a claim for compensation (a "Tax Lender") with one or more Replacement Lenders, and the
Non-Consenting Lender or Tax Lender, as applicable, shall have no right to refuse to be replaced hereunder. Such notice to replace
the Non-Consenting Lender or Tax Lender, as applicable, shall specify an effective date for such replacement, which date shall
not be later than 15 Business Days after the date such notice is given.

 

(b)               Prior
to the effective date of such replacement, the Non-Consenting Lender or Tax Lender, as applicable, and each
Replacement Lender shall execute and deliver an Assignment and Acceptance, subject only to the Non-Consenting Lender or Tax
Lender, as applicable, being repaid in full its share of the outstanding Obligations (without any premium or penalty of any
kind whatsoever, but including (i) all interest, fees and other amounts that may be due in payable in respect thereof,
(ii) an assumption of its Pro Rata Share of participations in the Letters of Credit, and (iii) Funding Losses). If the
Non-Consenting Lender or Tax Lender, as applicable, shall refuse or fail to execute and deliver any such Assignment and
Acceptance prior to the effective date of such replacement, Agent may, but shall not be required to, execute and deliver such
Assignment and Acceptance in the name or and on behalf of the Non-Consenting Lender or Tax Lender, as applicable, and
irrespective of whether Agent executes and delivers such Assignment and Acceptance, the Non-Consenting Lender or Tax Lender,
as applicable, shall be deemed to have executed and delivered such Assignment and Acceptance. The replacement of any
Non-Consenting Lender or Tax Lender, as applicable, shall be made in accordance with the terms of Section 13.1.
Until such time as one or more Replacement Lenders shall have acquired all of the Obligations, the Commitments, and the other
rights and obligations of the Non-Consenting Lender or Tax Lender, as applicable, hereunder and under the other Loan
Documents, the Non-Consenting Lender or Tax Lender, as applicable, shall remain obligated to make the Non-Consenting Lender's
or Tax Lender's, as applicable, Pro Rata Share of Revolving Loans and to purchase a participation in each Letter of Credit,
in an amount equal to its Pro Rata Share of participations in such Letters of Credit.

 

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14.3.       
No Waivers; Cumulative Remedies. No failure by Agent or any Lender to exercise any right, remedy, or option under
this Agreement or any other Loan Document, or delay by Agent or any Lender in exercising the same, will operate as a waiver thereof.
No waiver by Agent or any Lender will be effective unless it is in writing, and then only to the extent specifically stated. No
waiver by Agent or any Lender on any occasion shall affect or diminish Agent's and each Lender's rights thereafter to require strict
performance by Borrower of any provision of this Agreement. Agent's and each Lender's rights under this Agreement and the other
Loan Documents will be cumulative and not exclusive of any other right or remedy that Agent or any Lender may have.

 

	15.	AGENT; THE LENDER GROUP.

 

15.1.        Appointment
and Authorization of Agent. Each Lender hereby designates and appoints Wells Fargo as its agent under this Agreement and
the other Loan Documents and each Lender hereby irrevocably authorizes (and by entering into a Bank Product Agreement, each
Bank Product Provider shall be deemed to designate, appoint, and authorize) Agent to execute and deliver each of the
other Loan Documents on its behalf and to take such other action on its behalf under the provisions of this Agreement and
each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to Agent by the
terms of this Agreement or any other Loan Document, together with such powers as are reasonably incidental thereto. Agent
agrees to act as agent for and on behalf of the Lenders (and the Bank Product Providers) on the conditions contained in
this Section 15. Any provision to the contrary contained elsewhere in this Agreement or in any other Loan
Document notwithstanding, Agent shall not have any duties or responsibilities, except those expressly set forth herein or in
the other Loan Documents, nor shall Agent have or be deemed to have any fiduciary relationship with any Lender (or Bank
Product Provider), and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read
into this Agreement or any other Loan Document or otherwise exist against Agent. Without limiting the generality of the
foregoing, the use of the term "agent" in this Agreement or the other Loan Documents with reference to Agent
is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any
applicable law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only a
representative relationship between independent contracting parties. Each Lender hereby further authorizes (and by entering
into a Bank Product Agreement, each Bank Product Provider shall be deemed to authorize) Agent to act as the secured
party under each of the Loan Documents that create a Lien on any item of Collateral. Except as expressly otherwise provided
in this Agreement, Agent shall have and may use its sole discretion with respect to exercising or refraining from
exercising any discretionary rights or taking or refraining from taking any actions that Agent expressly is entitled to take
or assert under or pursuant to this Agreement and the other Loan Documents. Without limiting the generality of the foregoing,
or of any other provision of the Loan Documents that provides rights or powers to Agent, Lenders agree that Agent shall have
the right to exercise the following powers as long as this Agreement remains in effect: (a) maintain, in accordance with
its customary business practices, ledgers and records reflecting the status of the Obligations, the Collateral,
payments and proceeds of Collateral, and related matters, (b) execute or file any and all financing or similar
statements or notices, amendments, renewals, supplements, documents, instruments, proofs of claim, notices and other written
agreements with respect to the Loan Documents, or to take any other action with respect to any Collateral or Loan Documents
which may be necessary to perfect, and maintain perfected, the security interests and Liens upon Collateral pursuant to the
Loan Documents, (c) make Revolving Loans, for itself or on behalf of Lenders, as provided in the Loan Documents,
(d) exclusively receive, apply, and distribute payments and proceeds of the Collateral as provided in the Loan
Documents, (e) open and maintain such bank accounts and cash management arrangements as Agent deems necessary and
appropriate in accordance with the Loan Documents for the foregoing purposes, (f) perform, exercise, and enforce any and
all other rights and remedies of the Lender Group with respect to Borrower or its Subsidiaries, the Obligations, the
Collateral, or otherwise related to any of same as provided in the Loan Documents, and (g) incur and pay such Lender
Group Expenses as Agent may deem necessary or appropriate for the performance and fulfillment of its functions and powers
pursuant to the Loan Documents.

 

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15.2.       
Delegation of Duties. Agent may execute any of its duties under this Agreement or any other Loan Document by or through
agents, employees or attorneys in fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties.
Agent shall not be responsible for the negligence or misconduct of any agent or attorney in fact that it selects as long as such
selection was made without gross negligence or willful misconduct.

 

15.3.       
Liability of Agent. None of the Agent-Related Persons shall (a) be liable for any action taken or omitted to
be taken by any of them under or in connection with this Agreement or any other Loan Document or the transactions contemplated
hereby (except for its own gross negligence or willful misconduct), or (b) be responsible in any manner to any of the Lenders
(or Bank Product Providers) for any recital, statement, representation or warranty made by Borrower or any of its Subsidiaries
or Affiliates, or any officer or director thereof, contained in this Agreement or in any other Loan Document, or in any certificate,
report, statement or other document referred to or provided for in, or received by Agent under or in connection with, this Agreement
or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any
other Loan Document, or for any failure of Borrower or its Subsidiaries or any other party to any Loan Document to perform its
obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation to any Lenders (or Bank Product Providers) to
ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement
or any other Loan Document, or to inspect the books and records or properties of Borrower or its Subsidiaries. No Agent-Related
Person shall have any liability to any Lender, and Loan Party or any of their respective Affiliates if any request for a Loan,
Letter of Credit or other extension of credit was not authorized by the applicable Borrower. Agent shall not be required to take
any action that, in its opinion or in the opinion of its counsel, may expose it to liability or that is contrary to any Loan Document
or applicable law or regulation.

 

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15.4.        Reliance
by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, resolution, notice,
consent, certificate, affidavit, letter, telegram, telefacsimile or other electronic method of transmission, telex
or telephone message, statement or other document or conversation believed by it to be genuine and correct and to have been
signed, sent, or made by the proper Person or Persons, and upon advice and statements of legal counsel (including counsel to
Borrower or counsel to any Lender), independent accountants and other experts selected by Agent. Agent shall be fully
justified in failing or refusing to take any action under this Agreement or any other Loan Document unless Agent shall first
receive such advice or concurrence of the Lenders as it deems appropriate and until such instructions are received, Agent
shall act, or refrain from acting, as it deems advisable. If Agent so requests, it shall first be indemnified to its
reasonable satisfaction by the Lenders (and, if it so elects, the Bank Product Providers) against any and all liability
and expense that may be incurred by it by reason of taking or continuing to take any such action. Agent shall in all cases be
fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a
request or consent of the Required Lenders and such request and any action taken or failure to act pursuant thereto shall be
binding upon all of the Lenders (and Bank Product Providers).

 

15.5.       
Notice of Default or Event of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of
any Default or Event of Default, except with respect to defaults in the payment of principal, interest, fees, and expenses required
to be paid to Agent for the account of the Lenders and, except with respect to Events of Default of which Agent has actual knowledge,
unless Agent shall have received written notice from a Lender or Borrower referring to this Agreement, describing such Default
or Event of Default, and stating that such notice is a "notice of default." Agent promptly will notify the Lenders of
its receipt of any such notice or of any Event of Default of which Agent has actual knowledge. If any Lender obtains actual knowledge
of any Event of Default, such Lender shall use commercially reasonable efforts to promptly notify the other Lenders and Agent of
such Event of Default. Each Lender shall be solely responsible for giving any notices to its Participants, if any. Subject to Section 15.4,
Agent shall take such action with respect to such Default or Event of Default as may be requested by the Required Lenders in accordance
with Section 9; provided, that unless and until Agent has received any such request, Agent may (but shall not
be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as
it shall deem advisable.

 

15.6.        Credit
Decision. Each Lender (and Bank Product Provider) acknowledges that none of the Agent-Related Persons has made any
representation or warranty to it, and that no act by Agent hereinafter taken, including any review of the affairs of Borrower
and its Subsidiaries or Affiliates, shall be deemed to constitute any representation or warranty by any Agent-Related Person
to any Lender (or Bank Product Provider). Each Lender represents (and by entering into a Bank Product Agreement, each
Bank Product Provider shall be deemed to represent) to Agent that it has, independently and without reliance upon any
Agent-Related Person and based on such due diligence, documents and information as it has deemed appropriate, made its own
appraisal of an investigation into the business, prospects, operations, property, financial and other condition and
creditworthiness of Borrower or any other Person party to a Loan Document, and all applicable bank regulatory laws relating
to the transactions contemplated hereby, and made its own decision to enter into this Agreement and to extend credit to
Borrower. Each Lender also represents (and by entering into a Bank Product Agreement, each Bank Product Provider shall be
deemed to represent) that it will, independently and without reliance upon any Agent-Related Person and based on such
documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and
decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigations
as it deems necessary to inform itself as to the business, prospects, operations, property, financial and other condition and
creditworthiness of Borrower or any other Person party to a Loan Document. Except for notices, reports, and other documents
expressly herein required to be furnished to the Lenders by Agent, Agent shall not have any duty or responsibility to provide
any Lender (or Bank Product Provider) with any credit or other information concerning the business, prospects,
operations, property, financial and other condition or creditworthiness of Borrower or any other Person party to a Loan
Document that may come into the possession of any of the Agent-Related Persons. Each Lender acknowledges (and by
entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to acknowledge) that Agent does not
have any duty or responsibility, either initially or on a continuing basis (except to the extent, if any, that is expressly
specified herein) to provide such Lender (or Bank Product Provider) with any credit or other information with
respect to Borrower, its Affiliates or any of their respective business, legal, financial or other affairs, and irrespective
of whether such information came into Agent's or its Affiliates' or representatives' possession before or after the date on
which such Lender became a party to this Agreement (or such Bank Product Provider entered into a Bank Product Agreement).

 

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15.7.       
Costs and Expenses; Indemnification. Agent may incur and pay Lender Group Expenses to the extent Agent reasonably
deems necessary or appropriate for the performance and fulfillment of its functions, powers, and obligations pursuant to the Loan
Documents, including court costs, attorneys' fees and expenses, fees and expenses of financial accountants, advisors, consultants,
and appraisers, costs of collection by outside collection agencies, auctioneer fees and expenses, and costs of security guards
or insurance premiums paid to maintain the Collateral, whether or not Borrower is obligated to reimburse Agent or Lenders for
such expenses pursuant to this Agreement or otherwise. Agent is authorized and directed to deduct and retain sufficient amounts
from payments or proceeds of the Collateral received by Agent to reimburse Agent for such out-of-pocket costs and expenses prior
to the distribution of any amounts to Lenders (or Bank Product Providers). In the event Agent is not reimbursed for such costs
and expenses by Borrower or its Subsidiaries, each Lender hereby agrees that it is and shall be obligated to pay to Agent such
Lender's ratable thereof. Whether or not the transactions contemplated hereby are consummated, each of the Lenders, on a ratable
basis, shall indemnify and defend the Agent-Related Persons (to the extent not reimbursed by or on behalf of Borrower and without
limiting the obligation of Borrower to do so) from and against any and all Indemnified Liabilities; provided, that
no Lender shall be liable for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities resulting
solely from such Person's gross negligence or willful misconduct nor shall any Lender be liable for the obligations of any Defaulting
Lender in failing to make a Revolving Loan or other extension of credit hereunder. Without limitation of the foregoing, each Lender
shall reimburse Agent upon demand for such Lender's ratable share of any costs or out of pocket expenses (including attorneys,
accountants, advisors, and consultants fees and expenses) incurred by Agent in connection with the preparation, execution,
delivery, administration, modification, amendment, or enforcement (whether through negotiations, legal proceedings or otherwise) of,
or legal advice in respect of rights or responsibilities under, this Agreement or any other Loan Document to the extent that Agent
is not reimbursed for such expenses by or on behalf of Borrower. The undertaking in this Section shall
survive the payment of all Obligations hereunder and the resignation or replacement of Agent.

 

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15.8.       
Agent in Individual Capacity. Wells Fargo and its Affiliates may make loans to, issue letters of credit for the
account of, accept deposits from, provide Bank Products to, acquire Equity Interests in, and generally engage in any kind of banking,
trust, financial advisory, underwriting, or other business with Borrower and its Subsidiaries and Affiliates and any other Person
party to any Loan Document as though Wells Fargo were not Agent hereunder, and, in each case, without notice to or consent of
the other members of the Lender Group. The other members of the Lender Group acknowledge (and by entering into a Bank Product
Agreement, each Bank Product Provider shall be deemed to acknowledge) that, pursuant to such activities, Wells Fargo or its
Affiliates may receive information regarding Borrower or its Affiliates or any other Person party to any Loan Documents that is
subject to confidentiality obligations in favor of Borrower or such other Person and that prohibit the disclosure of such information
to the Lenders (or Bank Product Providers), and the Lenders acknowledge (and by entering into a Bank Product Agreement, each Bank
Product Provider shall be deemed to acknowledge) that, in such circumstances (and in the absence of a waiver of such confidentiality
obligations, which waiver Agent will use its reasonable best efforts to obtain), Agent shall not be under any obligation to provide
such information to them. The terms "Lender" and "Lenders" include Wells Fargo in its individual capacity.

 

15.9.       
Successor Agent. Agent may resign as Agent upon 30 days (10 days if an Event of Default has occurred and is continuing) prior
written notice to the Lenders (unless such notice is waived by the Required Lenders) and Borrower (unless such notice is
waived by Borrower) and without any notice to the Bank Product Providers. If Agent resigns under this Agreement, the Required
Lenders shall be entitled, with (so long as no Event of Default has occurred and is continuing) the consent of Borrower (such
consent not to be unreasonably withheld, delayed, or conditioned), appoint a successor Agent for the Lenders (and the Bank Product
Providers). If, at the time that Agent's resignation is effective, it is acting as Issuing Bank or the Swing Lender, such resignation
shall also operate to effectuate its resignation as Issuing Bank or the Swing Lender, as applicable, and it shall automatically
be relieved of any further obligation to issue Letters of Credit or to make Swing Loans. If no successor Agent is appointed prior
to the effective date of the resignation of Agent, Agent may appoint, after consulting with the Lenders and Borrower, a successor
Agent. If Agent has materially breached or failed to perform any material provision of this Agreement or of applicable law, the
Required Lenders may agree in writing to remove and replace Agent with a successor Agent from among the Lenders with (so long
as no Event of Default has occurred and is continuing) the consent of Borrower (such consent not to be unreasonably withheld,
delayed, or conditioned). In any such event, upon the acceptance of its appointment as successor Agent hereunder, such successor
Agent shall succeed to all the rights, powers, and duties of the retiring Agent and the term "Agent" shall mean
such successor Agent and the retiring Agent's appointment, powers, and duties as Agent shall be terminated. After any retiring
Agent's resignation hereunder as Agent, the provisions of this Section 15 shall inure to its benefit as to any actions
taken or omitted to be taken by it while it was Agent under this Agreement. If no successor Agent has accepted appointment as
Agent by the date which is 30 days following a retiring Agent's notice of resignation, the retiring Agent's resignation shall
nevertheless thereupon become effective and the Lenders shall perform all of the duties of Agent hereunder until such time, if
any, as the Lenders appoint a successor Agent as provided for above.

 

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15.10.      
Lender in Individual Capacity. Any Lender and its respective Affiliates may make loans to, issue letters of credit
for the account of, accept deposits from, provide Bank Products to, acquire Equity Interests in and generally engage in any kind
of banking, trust, financial advisory, underwriting, or other business with Borrower and its Subsidiaries and Affiliates and any
other Person party to any Loan Documents as though such Lender were not a Lender hereunder without notice to or consent of the
other members of the Lender Group (or the Bank Product Providers). The other members of the Lender Group acknowledge (and by entering
into a Bank Product Agreement, each Bank Product Provider shall be deemed to acknowledge) that, pursuant to such activities,
such Lender and its respective Affiliates may receive information regarding Borrower or its Affiliates or any other Person party
to any Loan Documents that is subject to confidentiality obligations in favor of Borrower or such other Person and that prohibit
the disclosure of such information to the Lenders, and the Lenders acknowledge (and by entering into a Bank Product Agreement,
each Bank Product Provider shall be deemed to acknowledge) that, in such circumstances (and in the absence of a waiver of
such confidentiality obligations, which waiver such Lender will use its reasonable best efforts to obtain), such Lender shall
not be under any obligation to provide such information to them.

 

15.11.   
Collateral Matters.

 

(a)        
The Lenders hereby irrevocably authorize (and by entering into a Bank Product Agreement, each Bank Product Provider shall
be deemed to authorize) Agent to release any Lien on any Collateral (i) upon the termination of the Commitments and
payment and satisfaction in full by Borrower of all of the Obligations, (ii) constituting property being sold or disposed
of if a release is required or desirable in connection therewith and if Borrower certifies to Agent that the sale or disposition
is permitted under Section 6.4 (and Agent may rely conclusively on any such certificate, without further inquiry), (iii) constituting
property in which Borrower or its Subsidiaries owned no interest at the time Agent's Lien was granted nor at any time thereafter,
(iv) constituting property leased or licensed to Borrower or its Subsidiaries under a lease or license that has expired or
is terminated in a transaction permitted under this Agreement, or (v) in connection with a credit bid or purchase authorized
under this Section 15.11. The Loan Parties and the Lenders hereby irrevocably authorize (and by entering into a Bank
Product Agreement, each Bank Product Provider shall be deemed to authorize) Agent, based upon the instruction of the Required
Lenders, to (a) consent to the sale of, credit bid, or purchase (either directly or indirectly through one or more entities) all
or any portion of the Collateral at any sale thereof conducted under the provisions of the Bankruptcy Code, including Section 363
of the Bankruptcy Code, (b) credit bid or purchase (either directly or indirectly through one or more entities) all
or any portion of the Collateral at any sale or other disposition thereof conducted under the provisions of the Code, including
pursuant to Sections 9-610 or 9-620 of the Code, or (c) credit bid or purchase (either directly or indirectly through one
or more entities) all or any portion of the Collateral at any other sale or foreclosure conducted or consented to by Agent
in accordance with applicable law in any judicial action or proceeding or by the exercise of any legal or equitable remedy. In
connection with any such credit bid or purchase, (i) the Obligations owed to the Lenders and the Bank Product Providers shall
be entitled to be, and shall be, credit bid on a ratable basis (with Obligations with respect to contingent or unliquidated claims
being estimated for such purpose if the fixing or liquidation thereof would not impair or unduly delay the ability of Agent to
credit bid or purchase at such sale or other disposition of the Collateral and, if such contingent or unliquidated claims cannot
be estimated without impairing or unduly delaying the ability of Agent to credit bid at such sale or other disposition, then such
claims shall be disregarded, not credit bid, and not entitled to any interest in the Collateral that is the subject of such credit
bid or purchase) and the Lenders and the Bank Product Providers whose Obligations are credit bid shall be entitled to receive
interests (ratably based upon the proportion of their Obligations credit bid in relation to the aggregate amount of Obligations
so credit bid) in the Collateral that is the subject of such credit bid or purchase (or in the Equity Interests of the any
entities that are used to consummate such credit bid or purchase), and (ii) Agent, based upon the instruction of the Required
Lenders, may accept non-cash consideration, including debt and equity securities issued by any entities used to consummate such
credit bid or purchase and in connection therewith Agent may reduce the Obligations owed to the Lenders and the Bank Product Providers
(ratably based upon the proportion of their Obligations credit bid in relation to the aggregate amount of Obligations so credit
bid) based upon the value of such non-cash consideration; provided, that Bank Product Obligations not entitled to
the application set forth in Section 2.4(b)(ii)(J) shall not be entitled to be, and shall not be, credit bid, or used in
the calculation of the ratable interest of the Lenders and Bank Product Providers in the Obligations which are credit bid. Except
as provided above, Agent will not execute and deliver a release of any Lien on any Collateral without the prior written authorization
of (y) if the release is of all or substantially all of the Collateral, all of the Lenders (without requiring the authorization
of the Bank Product Providers), or (z) otherwise, the Required Lenders (without requiring the authorization of the Bank Product
Providers). Upon request by Agent or Borrower at any time, the Lenders will (and if so requested, the Bank Product Providers will) confirm
in writing Agent's authority to release any such Liens on particular types or items of Collateral pursuant to this Section 15.11;
provided, that (1) anything to the contrary contained in any of the Loan Documents notwithstanding, Agent shall not
be required to execute any document or take any action necessary to evidence such release on terms that, in Agent's opinion, could
expose Agent to liability or create any obligation or entail any consequence other than the release of such Lien without recourse,
representation, or warranty, and (2) such release shall not in any manner discharge, affect, or impair the Obligations or
any Liens (other than those expressly released) upon (or obligations of Borrower in respect of) any and all interests
retained by Borrower, including, the proceeds of any sale, all of which shall continue to constitute part of the Collateral. Each
Lender further hereby irrevocably authorize (and by entering into a Bank Product Agreement, each Bank Product Provider shall be
deemed to irrevocably authorize) Agent, at its option and in its sole discretion, to subordinate any Lien granted to or held
by Agent under any Loan Document to the holder of any Permitted Lien on such property if such Permitted Lien secures Permitted
Purchase Money Indebtedness.

 

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(b)       
Agent shall have no obligation whatsoever to any of the Lenders (or the Bank Product Providers) (i) to verify
or assure that the Collateral exists or is owned by Borrower or its Subsidiaries or is cared for, protected, or insured or has
been encumbered, (ii) to verify or assure that Agent's Liens have been properly or sufficiently or lawfully created, perfected,
protected, or enforced or are entitled to any particular priority, (iii) to impose, maintain, increase, reduce, implement,
or eliminate any particular reserve hereunder or to determine whether the amount of any reserve is appropriate or not, or (iv) to
exercise at all or in any particular manner or under any duty of care, disclosure or fidelity, or to continue exercising, any
of the rights, authorities and powers granted or available to Agent pursuant to any of the Loan Documents, it being understood
and agreed that in respect of the Collateral, or any act, omission, or event related thereto, subject to the terms and conditions
contained herein, Agent may act in any manner it may deem appropriate, in its sole discretion given Agent's own interest in the
Collateral in its capacity as one of the Lenders and that Agent shall have no other duty or liability whatsoever to any Lender
(or Bank Product Provider) as to any of the foregoing, except as otherwise expressly provided herein.

 

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15.12.   
Restrictions on Actions by Lenders; Sharing of Payments.

 

(a)       
Each of the Lenders agrees that it shall not, without the express written consent of Agent, and that it shall, to the extent
it is lawfully entitled to do so, upon the written request of Agent, set off against the Obligations, any amounts owing by such
Lender to Borrower or its Subsidiaries or any deposit accounts of Borrower or its Subsidiaries now or hereafter maintained with
such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so in writing by Agent,
take or cause to be taken any action, including, the commencement of any legal or equitable proceedings to enforce any Loan Document
against Borrower or any Guarantor or to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

 

(b)        
If, at any time or times any Lender shall receive (i) by payment, foreclosure, setoff, or otherwise, any proceeds of Collateral
or any payments with respect to the Obligations, except for any such proceeds or payments received by such Lender from Agent pursuant
to the terms of this Agreement, or (ii) payments from Agent in excess of such Lender's Pro Rata Share of all such distributions
by Agent, such Lender promptly shall (A) turn the same over to Agent, in kind, and with such endorsements as may be required
to negotiate the same to Agent, or in immediately available funds, as applicable, for the account of all of the Lenders and for
application to the Obligations in accordance with the applicable provisions of this Agreement, or (B) purchase, without recourse
or warranty, an undivided interest and participation in the Obligations owed to the other Lenders so that such excess payment
received shall be applied ratably as among the Lenders in accordance with their Pro Rata Shares; provided, that to the
extent that such excess payment received by the purchasing party is thereafter recovered from it, those purchases of participations
shall be rescinded in whole or in part, as applicable, and the applicable portion of the purchase price paid therefor shall be
returned to such purchasing party, but without interest except to the extent that such purchasing party is required to pay interest
in connection with the recovery of the excess payment.

 

15.13.   
Agency for Perfection. Agent hereby appoints each other Lender (and each Bank Product Provider) as its agent
(and each Lender hereby accepts (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to
accept) such appointment) for the purpose of perfecting Agent's Liens in assets which, in accordance with Article 8
or Article 9, as applicable, of the Code can be perfected by possession or control. Should any Lender obtain possession or
control of any such Collateral, such Lender shall notify Agent thereof, and, promptly upon Agent's request therefor shall deliver
possession or control of such Collateral to Agent or in accordance with Agent's instructions.

 

15.14.   
Payments by Agent to the Lenders. All payments to be made by Agent to the Lenders (or Bank Product Providers) shall
be made by bank wire transfer of immediately available funds pursuant to such wire transfer instructions as each party may designate
for itself by written notice to Agent. Concurrently with each such payment, Agent shall identify whether such payment (or any
portion thereof) represents principal, premium, fees, or interest of the Obligations.

 

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15.15.   
Concerning the Collateral and Related Loan Documents. Each member of the Lender Group authorizes and directs Agent
to enter into this Agreement and the other Loan Documents. Each member of the Lender Group agrees (and by entering into a Bank
Product Agreement, each Bank Product Provider shall be deemed to agree) that any action taken by Agent in accordance with
the terms of this Agreement or the other Loan Documents relating to the Collateral and the exercise by Agent of its powers set
forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of
the Lenders (and such Bank Product Provider).

 

15.16.   
Financial Examination Reports; Confidentiality; Disclaimers by Lenders; Other Reports and Information. By becoming
a party to this Agreement, each Lender:

 

(a)        
is deemed to have requested that Agent furnish such Lender, promptly after it becomes available, a copy of each financial examination
report respecting Borrower or its Subsidiaries (each, a "Report") prepared by or at the request of Agent,
and Agent shall so furnish each Lender with such Reports,

 

(b)        
expressly agrees and acknowledges that Agent does not (i) make any representation or warranty as to the accuracy of any Report,
and (ii) shall not be liable for any information contained in any Report,

 

(c)        
expressly agrees and acknowledges that the Reports are not comprehensive audits or examinations, that Agent or other party performing
any financial examination will inspect only specific information regarding Borrower and its Subsidiaries and will rely significantly
upon Borrower's and its Subsidiaries' books and records, as well as on representations of Borrower's personnel,

 

(d)       
agrees to keep all Reports and other material, non-public information regarding Borrower and its Subsidiaries and their
operations, assets, and existing and contemplated business plans in a confidential manner in accordance with Section 17.9,
and

 

(e)        
without limiting the generality of any other indemnification provision contained in this Agreement, agrees: (i) to hold Agent
and any other Lender preparing a Report harmless from any action the indemnifying Lender may take or fail to take or any conclusion
the indemnifying Lender may reach or draw from any Report in connection with any loans or other credit accommodations that the
indemnifying Lender has made or may make to Borrower, or the indemnifying Lender's participation in, or the indemnifying Lender's
purchase of, a loan or loans of Borrower, and (ii) to pay and protect, and indemnify, defend and hold Agent, and any such
other Lender preparing a Report harmless from and against, the claims, actions, proceedings, damages, costs, expenses, and other
amounts (including, attorneys' fees and costs) incurred by Agent and any such other Lender preparing a Report as the direct
or indirect result of any third parties who might obtain all or part of any Report through the indemnifying Lender.

 

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(f)        
In addition to the foregoing, (x) any Lender may from time to time request of Agent in writing that Agent provide to such
Lender a copy of any report or document provided by Borrower or its Subsidiaries to Agent that has not been contemporaneously
provided by Borrower or such Subsidiary to such Lender, and, upon receipt of such request, Agent promptly shall provide a copy
of same to such Lender, (y) to the extent that Agent is entitled, under any provision of the Loan Documents, to request additional
reports or information from Borrower or its Subsidiaries, any Lender may, from time to time, reasonably request Agent to exercise
such right as specified in such Lender's notice to Agent, whereupon Agent promptly shall request of Borrower the additional reports
or information reasonably specified by such Lender, and, upon receipt thereof from Borrower or such Subsidiary, Agent promptly
shall provide a copy of same to such Lender, and (z) any time that Agent renders to Borrower a statement regarding the Loan
Account, Agent shall send a copy of such statement to each Lender.

 

15.17.   
Several Obligations; No Liability. Notwithstanding that certain of the Loan Documents now or hereafter may have
been or will be executed only by or in favor of Agent in its capacity as such, and not by or in favor of the Lenders, any and
all obligations on the part of Agent (if any) to make any credit available hereunder shall constitute the several (and not
joint) obligations of the respective Lenders on a ratable basis, according to their respective Commitments, to make an amount
of such credit not to exceed, in principal amount, at any one time outstanding, the amount of their respective Commitments. Nothing
contained herein shall confer upon any Lender any interest in, or subject any Lender to any liability for, or in respect of, the
business, assets, profits, losses, or liabilities of any other Lender. Each Lender shall be solely responsible for notifying its
Participants of any matters relating to the Loan Documents to the extent any such notice may be required, and no Lender shall
have any obligation, duty, or liability to any Participant of any other Lender. Except as provided in Section 15.7,
no member of the Lender Group shall have any liability for the acts of any other member of the Lender Group. No Lender shall be
responsible to Borrower or any other Person for any failure by any other Lender (or Bank Product Provider) to fulfill its
obligations to make credit available hereunder, nor to advance for such Lender (or Bank Product Provider) or on its behalf,
nor to take any other action on behalf of such Lender (or Bank Product Provider) hereunder or in connection with the financing
contemplated herein.

 

	16.	WITHHOLDING
    TAXES.

 

16.1.       
Payments. All payments made by any Loan Party hereunder or under any note or other Loan Document will be made without
setoff, counterclaim, or other defense. In addition, any and all payments by or on account of any obligation of any Loan Party
under any Loan Document will be made free and clear of, and without deduction or withholding for any Taxes, except as required
by applicable law. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires
the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall
be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental
Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the Loan Party shall
be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings
applicable to additional sums payable under this Section 16, the applicable Recipient receives an amount equal to the sum
it would have received had no such deduction or withholding been made. Borrower will furnish to Agent as promptly as possible
after the date the payment of any Indemnified Tax is due pursuant to applicable law, certified copies of tax receipts issued by
the applicable Governmental Authority imposing the Tax evidencing such payment by Borrower. Borrower agrees to timely pay to the
relevant Governmental Authority in accordance with applicable law, or at the option of the Agent timely reimburse it for the payment
of, any Other Taxes.

 

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16.2.       
Exemptions.

 

(a)       
If a Lender or Participant is entitled to claim an exemption or reduction from United States withholding tax, such Lender or Participant
agrees with and in favor of Agent, to deliver to Agent (or, in the case of a Participant, to the Lender granting the participation
only) one of the following before receiving its first payment under this Agreement:

 

(i)       
if such Lender or Participant is a Foreign Lender and is claiming the benefits of the exemption from United States withholding
tax pursuant to the portfolio interest exception under Section 881(c) of the IRC, (A) a certificate substantially in the
form of Exhibit T-1 to the effect that such Foreign Lender is not (I) a "bank" within the meaning of Section 881(c)(3)(A) of
the IRC, (II) a 10% shareholder of Borrower within the meaning of Section 881(c)(3)(B) of the IRC), or (III) a
controlled foreign corporation related to Borrower within the meaning of Section 861(c)(3)(C) of the IRC (a "U.S.
Tax Compliance Certificate"), and (B) a properly completed and executed copy of IRS Form W-8BEN or IRS Form W-8BEN-E;

 

(ii)       
if such Lender or Participant is a Foreign Lender claiming the benefits of an income Tax treaty to which the United States is
a party, a properly completed and executed copy of IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction
of, U.S. federal withholding Tax pursuant to the "interest" article or the "business profits" or "other
income" article of such income Tax treaty, as applicable;

 

(iii)       
if such Lender or Participant is entitled to claim that interest paid under this Agreement is exempt from United States
withholding tax because it is effectively connected with a United States trade or business of such Lender, a properly completed
and executed copy of IRS Form W-8ECI;

 

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

 

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(v)        
a properly completed and executed copy of any other form or forms, including IRS Form W-9, as may be required under the IRC or
other laws of the United States as a condition to exemption from, or reduction of, United States withholding or backup withholding
tax.

 

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

 

(c)       If
a payment to a Lender or Participant under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA
if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section
1471(b) or 1472(b) of the IRC, as applicable), such Lender or Participant shall deliver to the Borrower and the Agent at the time
or times prescribed by law and at such time or times reasonably requested by Borrower or Agent such documentation prescribed by
applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the IRC) and such additional documentation reasonably requested
by Borrower or Agent as may be necessary for the Borrower and the Agent to comply with their obligations under FATCA or to determine
the amount to deduct and withhold from such payment.

 

(d)       
If a Lender or Participant claims an exemption from withholding Tax in a jurisdiction other than the United States, such
Lender or such Participant agrees with and in favor of Agent, to deliver to Agent (or, in the case of a Participant, to the Lender
granting the participation only) any such form or forms, as may be required under the laws of such jurisdiction as a condition
to exemption from, or reduction of, foreign withholding or backup withholding Tax before receiving its first payment under this
Agreement, but only if such Lender or such Participant is legally able to deliver such forms, provided, that nothing in
this Section 16.2(d) shall require a Lender or Participant to disclose any information that it deems to be confidential
(including without limitation, its Tax returns). Each Lender and each Participant shall provide new forms (or successor forms) upon
the expiration or obsolescence of any previously delivered forms and to promptly notify Agent (or, in the case of a Participant,
to the Lender granting the participation only) of any change in circumstances which would modify or render invalid any claimed
exemption or reduction.

 

(e)       If
a Lender or Participant claims exemption from, or reduction of, withholding Tax and such Lender or Participant sells, assigns,
grants a participation in, or otherwise transfers all or part of the Obligations of Borrower to such Lender or Participant, such
Lender or Participant agrees to notify Agent (or, in the case of a sale of a participation interest, to the Lender granting the
participation only) of the percentage amount in which it is no longer the beneficial owner of Obligations of Borrower to
such Lender or Participant. To the extent of such percentage amount, Agent will treat such Lender's or such Participant's documentation
provided pursuant to Section 16.2(a) or 16.2(d) as no longer valid. With respect to such percentage
amount, such Participant or Assignee may provide new documentation, pursuant to Section 16.2(a) or 16.2(d),
if applicable. Borrower agrees that each Participant shall be entitled to the benefits of this Section 16 with respect
to its participation in any portion of the Commitments and the Obligations so long as such Participant complies with the obligations
set forth in this Section 16 with respect thereto.

 

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16.3.       
Indemnification.

 

(a)       
Indemnification by the Borrower. The Loan Parties shall jointly and severally indemnify each Recipient, within 10
days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or
attributable to amounts payable under this Section 16) payable or paid by such Recipient (or its Affiliates) or required
to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto
(including reasonable attorneys' and tax advisor fees and expenses), whether or not such Indemnified Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered
to the Borrower by a Lender (with a copy to the Agent) or by the Agent on its own behalf or on behalf of a Lender, shall be conclusive
absent manifest error.

 

(b)        
Indemnification by the Lenders. Each Lender shall severally indemnify the Agent, within 10 days after demand therefor,
for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that the Borrower has not already indemnified
the Agent for such Indemnified Taxes and without limiting the obligation of the Borrower to do so), (ii) any Taxes attributable
to such Lender's failure to comply with the provisions of Section 13.1(i) relating to the maintenance of a Participant Register
and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Agent in connection with
any Loan Document, and any reasonable expenses arising therefrom or with respect thereto (including reasonable attorneys' and
tax advisor fees and expenses), whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Agent shall be conclusive
absent manifest error. Each Lender hereby authorizes the Agent to set off and apply any and all amounts at any time owing to such
Lender under any Loan Document or otherwise payable by the Agent to the Lender from any other source against any amount due to
the Agent under this paragraph (b).

 

16.4.       
Refunds. If Agent or a Lender determines, in its sole discretion, that it has received a refund of any Indemnified
Taxes to which Borrower has paid additional amounts pursuant to this Section 16, so long as no Default or Event of
Default has occurred and is continuing, it shall pay over such refund to Borrower (but only to the extent of payments made, or
additional amounts paid, by Borrower under this Section 16 with respect to Indemnified Taxes giving rise to such a
refund), net of all out-of-pocket expenses of Agent or such Lender and without interest (other than any interest paid by the applicable
Governmental Authority with respect to such a refund); provided, that Borrower, upon the request of Agent or such Lender,
agrees to repay the amount paid over to Borrower (plus any penalties, interest or other charges, imposed by the applicable Governmental
Authority, other than such penalties, interest or other charges imposed as a result of the willful misconduct or gross negligence
of Agent hereunder) to Agent or such Lender in the event Agent or such Lender is required to repay such refund to such Governmental
Authority. Notwithstanding anything in this Agreement to the contrary, this Section 16 shall not be construed to require
Agent or any Lender (i) to make available its tax returns (or any other information which it deems confidential) to Borrower
or any other Person or (ii) to pay any amount pursuant to this Section 16.4 the payment of which would place such
Lender or Agent (or their Affiliates) in a less favorable net after-Tax position than such Person would have been in if the Tax
subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification
payments or additional amounts with respect to such Tax had never been paid.

 

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16.5.       
Survival. Each party’s obligations under this Section 16 shall survive the resignation or replacement
of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments
and the repayment, satisfaction or discharge of all obligations under any Loan Document.

 

	17.	GENERAL
    PROVISIONS.

 

17.1.       
Effectiveness. This Agreement shall be binding and deemed effective when executed by Borrower, Agent, and each Lender
whose signature is provided for on the signature pages hereof.

 

17.2.       
Section Headings. Headings and numbers have been set forth herein for convenience only. Unless the contrary
is compelled by the context, everything contained in each Section applies equally to this entire Agreement.

 

17.3.       
Interpretation. Neither this Agreement nor any uncertainty or ambiguity herein shall be construed against the Lender
Group or Borrower, whether under any rule of construction or otherwise. On the contrary, this Agreement has been reviewed by all
parties and shall be construed and interpreted according to the ordinary meaning of the words used so as to accomplish fairly
the purposes and intentions of all parties hereto.

 

17.4.       
Severability of Provisions. Each provision of this Agreement shall be severable from every other provision of this
Agreement for the purpose of determining the legal enforceability of any specific provision.

 

17.5.       
Bank Product Providers. Each Bank Product Provider in its capacity as such shall be deemed a third party beneficiary
hereof and of the provisions of the other Loan Documents for purposes of any reference in a Loan Document to the parties for whom
Agent is acting. Agent hereby agrees to act as agent for such Bank Product Providers and, by virtue of entering into a Bank Product
Agreement, the applicable Bank Product Provider shall be automatically deemed to have appointed Agent as its agent and to have
accepted the benefits of the Loan Documents. It is understood and agreed that the rights and benefits of each Bank Product Provider
under the Loan Documents consist exclusively of such Bank Product Provider's being a beneficiary of the Liens and security interests
(and, if applicable, guarantees) granted to Agent and the right to share in payments and collections out of the Collateral
as more fully set forth herein. In addition, each Bank Product Provider, by virtue of entering into a Bank Product Agreement,
shall be automatically deemed to have agreed that Agent shall have the right, but shall have no obligation, to establish, maintain,
relax, or release reserves in respect of the Bank Product Obligations and that if reserves are established there is no obligation
on the part of Agent to determine or insure whether the amount of any such reserve is appropriate or not. In connection with any
such distribution of payments or proceeds of Collateral, Agent shall be entitled to assume no amounts are due or owing to any
Bank Product Provider unless such Bank Product Provider has provided a written certification (setting forth a reasonably detailed
calculation) to Agent as to the amounts that are due and owing to it and such written certification is received by Agent
a reasonable period of time prior to the making of such distribution. Agent shall have no obligation to calculate the amount due
and payable with respect to any Bank Products, but may rely upon the written certification of the amount due and payable from
the applicable Bank Product Provider. In the absence of an updated certification, Agent shall be entitled to assume that the amount
due and payable to the applicable Bank Product Provider is the amount last certified to Agent by such Bank Product Provider as
being due and payable (less any distributions made to such Bank Product Provider on account thereof). Borrower may obtain Bank
Products from any Bank Product Provider, although Borrower is not required to do so. Borrower acknowledges and agrees that no
Bank Product Provider has committed to provide any Bank Products and that the providing of Bank Products by any Bank Product Provider
is in the sole and absolute discretion of such Bank Product Provider. Notwithstanding anything to the contrary in this Agreement
or any other Loan Document, no provider or holder of any Bank Product shall have any voting or approval rights hereunder (or be
deemed a Lender) solely by virtue of its status as the provider or holder of such agreements or products or the Obligations
owing thereunder, nor shall the consent of any such provider or holder be required (other than in their capacities as Lenders,
to the extent applicable) for any matter hereunder or under any of the other Loan Documents, including as to any matter relating
to the Collateral or the release of Collateral or Guarantors.

 

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17.6.       
Debtor-Creditor Relationship. The relationship between the Lenders and Agent, on the one hand, and the Loan Parties,
on the other hand, is solely that of creditor and debtor. No member of the Lender Group has (or shall be deemed to have) any
fiduciary relationship or duty to any Loan Party arising out of or in connection with the Loan Documents or the transactions contemplated
thereby, and there is no agency or joint venture relationship between the members of the Lender Group, on the one hand, and the
Loan Parties, on the other hand, by virtue of any Loan Document or any transaction contemplated therein.

 

17.7.       
Counterparts; Electronic Execution. This Agreement may be executed in any number of counterparts and by different
parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which,
when taken together, shall constitute but one and the same Agreement. Delivery of an executed counterpart of this Agreement by
telefacsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart
of this Agreement. Any party delivering an executed counterpart of this Agreement by telefacsimile or other electronic method
of transmission also shall deliver an original executed counterpart of this Agreement but the failure to deliver an original executed
counterpart shall not affect the validity, enforceability, and binding effect of this Agreement. The foregoing shall apply to
each other Loan Document mutatis mutandis.

 

17.8.       
Revival and Reinstatement of Obligations; Certain Waivers.

 

(a)        
If any member of the Lender Group or any Bank Product Provider repays, refunds, restores, or returns in whole or in part, any
payment or property (including any proceeds of Collateral) previously paid or transferred to such member of the Lender Group
or such Bank Product Provider in full or partial satisfaction of any Obligation or on account of any other obligation of any Loan
Party under any Loan Document or any Bank Product Agreement, because the payment, transfer, or the incurrence of the obligation
so satisfied is asserted or declared to be void, voidable, or otherwise recoverable under any law relating to creditors' rights,
including provisions of the Bankruptcy Code relating to fraudulent transfers, preferences, or other voidable or recoverable obligations
or transfers (each, a "Voidable Transfer"), or because such member of the Lender Group or Bank Product Provider
elects to do so on the reasonable advice of its counsel in connection with a claim that the payment, transfer, or incurrence is
or may be a Voidable Transfer, then, as to any such Voidable Transfer, or the amount thereof that such member of the Lender Group
or Bank Product Provider elects to repay, restore, or return (including pursuant to a settlement of any claim in respect thereof),
and as to all reasonable costs, expenses, and attorneys' fees of such member of the Lender Group or Bank Product Provider related
thereto, (i) the liability of the Loan Parties with respect to the amount or property paid, refunded, restored, or returned
will automatically and immediately be revived, reinstated, and restored and will exist and (ii) Agent's Liens securing such
liability shall be effective, revived, and remain in full force and effect, in each case, as fully as if such Voidable Transfer
had never been made. If, prior to any of the foregoing, (A) Agent's Liens shall have been released or terminated or (B) any
provision of this Agreement shall have been terminated or cancelled, Agent's Liens, or such provision of this Agreement, shall
be reinstated in full force and effect and such prior release, termination, cancellation or surrender shall not diminish, release,
discharge, impair or otherwise affect the obligation of any Loan Party in respect of such liability or any Collateral securing
such liability. This provision shall survive the termination of this Agreement and the repayment in full of the Obligations.

 

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(b)       
Anything to the contrary contained herein notwithstanding, if Agent or any Lender accepts a guaranty of only a portion of the
Obligations pursuant to any guaranty, Borrower hereby waives its right under Section 2822(a) of the California Civil
Code or any similar laws of any other applicable jurisdiction to designate the portion of the Obligations satisfied by the applicable
guarantor's partial payment.

 

17.9.       
Confidentiality.

 

(a)        
Agent and Lenders each individually (and not jointly or jointly and severally) agree that material, non-public information
regarding Borrower and its Subsidiaries, their operations, assets, and existing and contemplated business plans ("Confidential
Information") shall be treated by Agent and the Lenders in a confidential manner, and shall not be disclosed by
Agent and the Lenders to Persons who are not parties to this Agreement, except: (i) to attorneys for and other advisors,
accountants, auditors, and consultants to any member of the Lender Group and to employees, directors and officers of any member
of the Lender Group (the Persons in this clause (i), "Lender Group Representatives") on a "need to
know" basis in connection with this Agreement and the transactions contemplated hereby and on a confidential basis, (ii) to
Subsidiaries and Affiliates of any member of the Lender Group (including the Bank Product Providers), provided that any such Subsidiary
or Affiliate shall have agreed to receive such information hereunder on a confidential basis, (iii) as may be required by
regulatory authorities so long as such authorities are informed of the confidential nature of such information, (iv) as may
be required by statute, decision, or judicial or administrative order, rule, or regulation; provided that (x) prior
to any disclosure under this clause (iv), the disclosing party agrees to provide Borrower with prior notice thereof, to the extent
that it is practicable to do so and to the extent that the disclosing party is permitted to provide such prior notice to Borrower
pursuant to the terms of the applicable statute, decision, or judicial or administrative order, rule, or regulation and (y) any
disclosure under this clause (iv) shall be limited to the portion of the Confidential Information as may be required by such
statute, decision, or judicial or administrative order, rule, or regulation, (v) as may be agreed to in advance in writing
by Borrower, (vi) as requested or required by any Governmental Authority pursuant to any subpoena or other legal process,
provided, that, (x) prior to any disclosure under this clause (vi) the disclosing party agrees to provide Borrower
with prior written notice thereof, to the extent that it is practicable to do so and to the extent that the disclosing party is
permitted to provide such prior written notice to Borrower pursuant to the terms of the subpoena or other legal process and (y) any
disclosure under this clause (vi) shall be limited to the portion of the Confidential Information as may be required by such
Governmental Authority pursuant to such subpoena or other legal process, (vii) as to any such information that is or becomes
generally available to the public (other than as a result of prohibited disclosure by Agent or the Lenders or the Lender Group
Representatives), (viii) in connection with any assignment, participation or pledge of any Lender's interest under this Agreement,
provided that prior to receipt of Confidential Information any such assignee, participant, or pledgee shall have agreed in writing
to receive such Confidential Information either subject to the terms of this Section 17.9 or pursuant to confidentiality
requirements substantially similar to those contained in this Section 17.9 (and such Person may disclose such Confidential
Information to Persons employed or engaged by them as described in clause (i) above), (ix) in connection with any litigation
or other adversary proceeding involving parties hereto which such litigation or adversary proceeding involves claims related to
the rights or duties of such parties under this Agreement or the other Loan Documents; provided, that, prior to any disclosure
to any Person (other than any Loan Party, Agent, any Lender, any of their respective Affiliates, or their respective counsel) under
this clause (ix) with respect to litigation involving any Person (other than Borrower, Agent, any Lender, any of their respective
Affiliates, or their respective counsel), the disclosing party agrees to provide Borrower with prior written notice thereof, (x) in
connection with, and to the extent reasonably necessary for, the exercise of any secured creditor remedy under this Agreement
or under any other Loan Document and (xi) in connection with any public filing required under applicable law or regulation as
determined in the reasonable discretion of Agent or any Lender.

 

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(b)        
Anything in this Agreement to the contrary notwithstanding, Agent and Lenders may disclose information concerning the terms and
conditions of this Agreement and the other Loan Documents to loan syndication and pricing reporting services or in its marketing
or promotional materials, with such information to consist of deal terms and other information customarily found in such publications
or marketing or promotional materials and may otherwise use the name, logos, and other insignia of Borrower or the other Loan
Parties and the Commitments provided hereunder in any "tombstone" or other advertisements, on its website or
in other marketing materials of the Agent.

 

(c)       
Each Loan Party agrees that Agent may make materials or information provided by or on behalf of Borrower hereunder (collectively,
"Borrower Materials") available to the Lenders by posting the Communications on IntraLinks, SyndTrak or a substantially
similar secure electronic transmission system (the "Platform"). The Platform is provided "as is" and
"as available." Agent does not warrant the accuracy or completeness of the Borrower Materials, or the adequacy of the
Platform and expressly disclaim liability for errors or omissions in the communications. No warranty of any kind, express, implied
or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of third party rights
or freedom from viruses or other code defects, is made by Agent in connection with the Borrower Materials or the Platform. In
no event shall Agent or any of the Agent-Related Persons have any liability to the Loan Parties, any Lender or any other person
for damages of any kind, including direct or indirect, special, incidental or consequential damages, losses or expenses (whether
in tort, contract or otherwise) arising out of any Loan Party's or Agent's transmission of communications through the Internet,
except to the extent the liability of such person is found in a final non-appealable judgment by a court of competent jurisdiction
to have resulted from such person's gross negligence or willful misconduct. Each Loan Party further agrees that certain of the
Lenders may be "public-side" Lenders (i.e., Lenders that do not wish to receive material non-public information with
respect to the Loan Parties or their securities) (each, a "Public Lender"). The Loan Parties shall be deemed
to have authorized Agent and its Affiliates and the Lenders to treat Borrower Materials marked "PUBLIC" or otherwise
at any time filed with the SEC as not containing any material non-public information with respect to the Loan Parties or their
securities for purposes of United States federal and state securities laws. All Borrower Materials marked "PUBLIC" are
permitted to be made available through a portion of the Platform designated as "Public Investor" (or another similar
term). Agent and its Affiliates and the Lenders shall be entitled to treat any Borrower Materials that are not marked "PUBLIC"
or that are not at any time filed with the SEC as being suitable only for posting on a portion of the Platform not marked as "Public
Investor" (or such other similar term).

 

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17.10.   
Survival. All representations and warranties made by the Loan Parties in the Loan Documents and in the certificates
or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered
to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Loan Documents and the
making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on
its behalf and notwithstanding that Agent, Issuing Bank, or any Lender may have had notice or knowledge of any Default or Event
of Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force
and effect as long as the principal of, or any accrued interest on, any Loan or any fee or any other amount payable under this
Agreement is outstanding or unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or been
terminated.

 

17.11.   
Patriot Act. Each Lender that is subject to the requirements of the Patriot Act hereby notifies Borrower that pursuant
to the requirements of the Act, it is required to obtain, verify and record information that identifies Borrower, which information
includes the name and address of Borrower and other information that will allow such Lender to identify Borrower in accordance
with the Patriot Act. In addition, if Agent is required by law or regulation or internal policies to do so, it shall have the
right to periodically conduct (a) Patriot Act searches, OFAC/PEP searches, and customary individual background checks for
the Loan Parties and (b) OFAC/PEP searches and customary individual background checks for the Loan Parties' senior management
and key principals, and Borrower agrees to cooperate in respect of the conduct of such searches and further agrees that the reasonable
costs and charges for such searches shall constitute Lender Group Expenses hereunder and be for the account of Borrower.

 

17.12.   
Integration. This Agreement, together with the other Loan Documents, reflects the entire understanding of the parties
with respect to the transactions contemplated hereby and shall not be contradicted or qualified by any other agreement, oral or
written, before the date hereof. The foregoing to the contrary notwithstanding, all Bank Product Agreements, if any, are independent
agreements governed by the written provisions of such Bank Product Agreements, which will remain in full force and effect, unaffected
by any repayment, prepayments, acceleration, reduction, increase, or change in the terms of any credit extended hereunder, except
as otherwise expressly provided in such Bank Product Agreement.

 

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17.13.   
Amendment and Restatement of Second Amended and Restated Credit Agreement. The execution and delivery of this Agreement
and the consummation of the transactions contemplated hereby and by the other Loan Documents are not intended by the parties to
be, and shall not constitute, a novation or an accord and satisfaction of the Obligations or any other obligations owing to Agent
or the Lenders under the Second Amended and Restated Credit Agreement or any other existing Loan Document including any Bank Product
Obligations outstanding on the Closing Date. On the Closing Date, the credit facilities and the terms and conditions thereof described
in the Second Amended and Restated Credit Agreement shall be amended and replaced in their entirety by the credit facilities and
the terms and conditions described herein, and all Loans, Letters of Credit, Bank Product Obligations and other Obligations of
each Borrower outstanding as of such date under the Second Amended and Restated Credit Agreement shall be deemed to be Loans,
Letters of Credit, Bank Product Obligations, and other Obligations outstanding under the corresponding facilities described herein
(such that all Obligations which are outstanding on the Closing Date under the Second Amended and Restated Credit Agreement shall
become Obligations under this Agreement), without further action by any Person. Each of the parties hereto hereby acknowledges
and agrees that the reaffirmation of the grant of the security interests in the Collateral pursuant to the Guaranty and Security
Agreement and in any other Loan Document is not intended to constitute, nor shall it be construed as constituting, a release of
any prior security interests granted by any Loan Party in favor of Agent for the benefit of itself, the Lenders, and the Bank
Product Providers in or to any Collateral or any other assets of the Loan Parties, but is intended to constitute a restatement
and reconfirmation of the existing security interests granted by each Loan Party in favor of Agent for the benefit of itself,
the Lenders, and the Bank Product Providers in and to the Collateral. As a material part of the consideration for Agent and
Lenders entering into this Agreement and in order to induce Lenders to extend credit pursuant to this Agreement, on
the date hereof each Loan Party hereby releases and forever discharges Agent and each Lender (under the Second Amended and Restated
Credit Agreement) and their directors, officers, employees, agents, attorneys, affiliates, subsidiaries, successors and assigns
from any and all liabilities, obligations, actions, contracts, claims, causes of action, damages, demands, costs and expenses
whatsoever (collectively "Current Claims"), of every kind and nature, however evidenced or created, whether known
or unknown, arising prior to the Closing Date involving the extension of credit under or administration of the Second Amended
and Restated Credit Agreement or any other Loan Documents (as defined in the Second Amended and Restated Credit Agreement), the
Obligations (as defined in the Second Amended and Restated Credit Agreement) incurred prior to the Closing Date by Borrower or
any other transactions evidenced by the Second Amended and Restated Credit Agreement or the Loan Documents (as defined in
the Second Amended and Restated Credit Agreement). Upon the effectiveness of this Agreement on the Closing Date, the Lenders hereby
agree to make such inter-Lender assignments among themselves on the Closing Date as may be required to cause the Revolving Loan
Commitment and Term Loan Commitments of each Lender as of the Closing Date to match the Revolving Loan Commitments and Term Loan
Commitments set forth on Schedule C-1 to this Agreement. On the Closing Date, each Lender agrees that such Lender holds
the Commitments and Loans set forth on Schedule C-1 to this Agreement.

 

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17.14.   
Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in
any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges
that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured,
may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges
and agrees to be bound by:

 

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

 

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

 

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

 

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

 

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

 

    -91-

     

    

 

17.15.   
Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee
or otherwise, for Hedge Agreements or any other agreement or instrument that is a QFC (such support, "QFC Credit Support"
and each such QFC a "Supported QFC"), the parties acknowledge and agree as follows with respect to the resolution
power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall
Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the "U.S. Special Resolution
Regimes") in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding
that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or
of the United States or any other state of the United States): In the event a Covered Entity that is party to a Supported QFC
(each, a "Covered Party") becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer
of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC
and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered
Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the
Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws
of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes
subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply
to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised
to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC
and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the
foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no
event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.

 

[Signature
pages to follow.]

 

    -92-

     

    

 

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

 

	 	BORROWER:
	 	 	 
	 	ASURE
SOFTWARE, INC.,
 a Delaware corporation
	 	 
	 	By:	 /s/
Patrick Goepel
	 	Name:	Patrick Goepel
	 	Title:   	Chief Executive
Officer

 

Signature Page to Third Amended and Restated Credit Agreement 

 

     

     

    

 

	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as Agent and as a Lender
	 	 	 
	 	By:	/s/ Reid Landers
	 	Name:	Reid Landers
	 	Title:	Director

 

Signature
Page to Third Amended and Restated Credit Agreement

 

     

     

    

 

SCHEDULE
1.1

 

As
used in the Agreement, the following terms shall have the following definitions:

 

"Accounting
Changes" means changes in accounting principles required by the promulgation of any rule, regulation, pronouncement or
opinion by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants (or successor thereto
or any agency with similar functions).

 

"Acquired
Indebtedness" means Indebtedness of a Person whose assets or Equity Interests are acquired by Borrower or any of its
Subsidiaries in a Permitted Acquisition; provided, that such Indebtedness (a) is either purchase money Indebtedness
or a Capital Lease with respect to Equipment or mortgage financing with respect to Real Property, (b) was in existence prior
to the date of such Permitted Acquisition, and (c) was not incurred in connection with, or in contemplation of, such Permitted
Acquisition.

 

"Acquisition"
means (a) the purchase or other acquisition by a Person or its Subsidiaries of all or substantially all of the assets of
(or any division or business line of) any other Person, or (b) the purchase or other acquisition (whether by means of
a merger, consolidation, or otherwise) by a Person or its Subsidiaries of all or substantially all of the Equity Interests
of any other Person.

 

"Additional
Documents" has the meaning specified therefor in Section 5.12 of the Agreement.

 

"Administrative
Questionnaire" has the meaning specified therefor in Section 13.1(a) of the Agreement.

 

"Affected
Lender" has the meaning specified therefor in Section 2.13(b) of the Agreement.

 

"Affiliate"
means, as applied to any Person, any other Person who controls, is controlled by, or is under common control with, such Person.
For purposes of this definition, "control" means the possession, directly or indirectly through one or more intermediaries,
of the power to direct the management and policies of a Person, whether through the ownership of Equity Interests, by contract,
or otherwise; provided, that, for purposes of Section 6.10 of the Agreement: (a) any Person which owns
directly or indirectly 10% or more of the Equity Interests having ordinary voting power for the election of directors or other
members of the governing body of a Person or 10% or more of the partnership or other ownership interests of a Person (other than
as a limited partner of such Person) shall be deemed an Affiliate of such Person, (b) each director (or comparable manager) of
a Person shall be deemed to be an Affiliate of such Person, and (c) each partnership in which a Person is a general partner
shall be deemed an Affiliate of such Person.

 

"Agent"
has the meaning specified therefor in the preamble to the Agreement.

 

Schedule
1.1

    Page 1

     

    

 

"Agent-Related
Persons" means Agent, together with its Affiliates, officers, directors, employees, attorneys, and agents.

 

"Agent's
Account" means the Deposit Account of Agent identified on Schedule A-1 to the Agreement (or such other Deposit
Account of Agent that has been designated as such, in writing, by Agent to Borrower and the Lenders).

 

"Agent's
Liens" means the Liens granted by Borrower or its Subsidiaries to Agent under the Loan Documents and securing the Obligations.

 

"Agreement"
means the Third Amended and Restated Credit Agreement to which this Schedule 1.1 is attached.

 

"Anti-Corruption
Laws" means the FCPA, the U.K. Bribery Act of 2010, as amended, and all other applicable laws and regulations or ordinances
concerning or relating to bribery, money laundering or corruption in any jurisdiction in which any Loan Party or any of its Subsidiaries
or Affiliates is located or is doing business.

 

"Anti-Money
Laundering Laws" means the applicable laws or regulations in any jurisdiction in which any Loan Party or any of its Subsidiaries
or Affiliates is located or is doing business that relates to money laundering, any predicate crime to money laundering, or any
financial record keeping and reporting requirements related thereto.

 

"Applicable
Margin" means, as of any date of determination and with respect to Base Rate Loans or LIBOR Rate Loans, as applicable,
the applicable margin set forth in the following table that corresponds to the most recent Leverage Ratio calculation delivered
to Agent pursuant to Section 5.1 of the Agreement (the "Leverage Ratio Calculation"); provided,
that for the period from the Closing Date through and including December 31, 2020, the Applicable Margin shall be set at the margin
in the row styled "Level III"; provided further, that any time an Event of Default has occurred and is
continuing, the Applicable Margin shall be set at the margin in the row styled "Level III":

 

	Level	Leverage
    Ratio Calculation	Applicable
    Margin Relative

    to Base Rate Loans (the 

    "Base Rate Margin")	Applicable
    Margin 

    Relative to LIBOR Rate 

    Loans (the "LIBOR Rate 

    Margin")
	I	If
    the Leverage Ratio is less than 2.00:1.00	2.25%
    percentage points	3.25%
    percentage points
	II	If
    the Leverage Ratio is less than 3.00:1.00 and greater than or equal to 2.00 to 1.00	2.75%
    percentage points	3.75%
    percentage points
	III	If
    the Leverage Ratio is equal to or greater than 3.00:1.00	3.25%
    percentage points	4.25%
    percentage points

 

Schedule
1.1

    Page 2

     

    

 

Except
as set forth in the foregoing proviso, the Applicable Margin shall be based upon the most recent Leverage Ratio Calculation, which
will be calculated as of the end of each fiscal quarter. Except as set forth in the foregoing proviso, the Applicable Margin shall
be re-determined quarterly on the first day of the month following the date of delivery to Agent of the certified calculation
of the Leverage Ratio pursuant to Section 5.1 of the Agreement; provided, that if Borrower fails to provide
such certification when such certification is due, the Applicable Margin shall be set at the margin in the row styled "Level
III" as of the first day of the month following the date on which the certification was required to be delivered until
the date on which such certification is delivered (on which date (but not retroactively), without constituting a waiver of any
Default or Event of Default occasioned by the failure to timely deliver such certification, the Applicable Margin shall be set
at the margin based upon the calculations disclosed by such certification. In the event that the information regarding the Leverage
Ratio contained in any certificate delivered pursuant to Section 5.1 of the Agreement is shown to be inaccurate, and
such inaccuracy, if corrected, would have led to the application of a higher Applicable Margin for any period (an "Applicable
Period") than the Applicable Margin actually applied for such Applicable Period, then (i) Borrower shall immediately
deliver to Agent a correct certificate for such Applicable Period, (ii) the Applicable Margin shall be determined as if the
correct Applicable Margin (as set forth in the table above) were applicable for such Applicable Period, and (iii) Borrower
shall immediately deliver to Agent full payment in respect of the accrued additional interest as a result of such increased Applicable
Margin for such Applicable Period, which payment shall be promptly applied by Agent to the affected Obligations.

 

"Application
Event" means the occurrence of (a) a failure by Borrower to repay all of the Obligations in full on the Maturity
Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds
of Collateral be applied pursuant to Section 2.4(b)(ii) of the Agreement.

 

"Assignee"
has the meaning specified therefor in Section 13.1(a) of the Agreement.

 

"Assignment
and Acceptance" means an Assignment and Acceptance Agreement substantially in the form of Exhibit A-1 to the Agreement.

 

"Authorized
Person" means any one of the individuals identified on Schedule A-2 to the Agreement, as such schedule is updated
from time to time by written notice from Borrower to Agent.

 

"Availability"
means, as of any date of determination, the amount that Borrower is entitled to borrow as Revolving Loans under Section 2.1
of the Agreement (after giving effect to the then outstanding Revolver Usage).

 

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

 

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

 

Schedule
1.1

    Page 3

     

    

 

"Bank
Product" means any one or more of the following financial products or accommodations extended to Borrower or its Subsidiaries
by a Bank Product Provider: (a) credit cards (including commercial cards (including so-called "purchase cards",
"procurement cards" or "p-cards")), (b) credit card processing services, (c) debit cards, (d) stored
value cards, (e) Cash Management Services, or (f) transactions under Hedge Agreements.

 

"Bank
Product Agreements" means those agreements entered into from time to time by Borrower or its Subsidiaries with a Bank
Product Provider in connection with the obtaining of any of the Bank Products.

 

"Bank
Product Collateralization" means providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to
be held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by
Agent as sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing Bank Product Obligations
(other than Hedge Obligations).

 

"Bank
Product Obligations" means (a) all obligations, liabilities, reimbursement obligations, fees, or expenses owing
by Borrower or its Subsidiaries to any Bank Product Provider pursuant to or evidenced by a Bank Product Agreement and irrespective
of whether for the payment of money, whether direct or indirect, absolute or contingent, due or to become due, now existing or
hereafter arising, (b) all Hedge Obligations, and (c) all amounts that Agent or any Lender is obligated to pay to a
Bank Product Provider as a result of Agent or such Lender purchasing participations from, or executing guarantees or indemnities
or reimbursement obligations to, a Bank Product Provider with respect to the Bank Products provided by such Bank Product Provider
to Borrower or its Subsidiaries.

 

"Bank
Product Provider" means Wells Fargo or any of its Affiliates, including each of the foregoing in its capacity, if applicable,
as a Hedge Provider.

 

"Bank
Product Reserves" means, as of any date of determination, those reserves that Agent deems necessary or appropriate to
establish (based upon the Bank Product Providers' determination of the liabilities and obligations of Borrower and its Subsidiaries
in respect of Bank Product Obligations) in respect of Bank Products then provided or outstanding.

 

"Bankruptcy
Code" means title 11 of the United States Code, as in effect from time to time.

 

"Base
Rate" means the greatest of (a) 2.00 percent per annum, (b) the Federal Funds Rate plus 1⁄2%, (c) the
LIBOR Rate (which rate shall be calculated based upon an Interest Period of 1 month and shall be determined on a daily basis),
plus 1 percentage point, and (d) the rate of interest announced, from time to time, within Wells Fargo at its principal office
in San Francisco as its "prime rate", with the understanding that the "prime rate" is one of Wells Fargo's
base rates (not necessarily the lowest of such rates) and serves as the basis upon which effective rates of interest are
calculated for those loans making reference thereto and is evidenced by the recording thereof after its announcement in such internal
publications as Wells Fargo may designate (and, if any such announced rate is below zero, then the rate determined pursuant to
this clause (d) shall be deemed to be zero).

 

Schedule
1.1

    Page 4

     

    

 

"Base
Rate Loan" means each portion of the Revolving Loans or the Term Loan that bears interest at a rate determined by reference
to the Base Rate.

 

"Base
Rate Margin" has the meaning set forth in the definition of Applicable Margin.

 

"Benchmark
Replacement" means the sum of: (a) the alternate benchmark rate (which may include Term SOFR) that has been selected
by Agent and Borrower giving due consideration to (i) any selection or recommendation of a replacement rate or the mechanism
for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for
determining a rate of interest as a replacement to the LIBOR Rate for United States dollar-denominated syndicated credit facilities
and (b) the Benchmark Replacement Adjustment; provided that, if the Benchmark Replacement as so determined would be
less than zero, the Benchmark Replacement shall be deemed to be zero for the purposes of this Agreement.

 

"Benchmark
Replacement Adjustment" means, with respect to any replacement of the LIBOR Rate with an Unadjusted Benchmark Replacement
for each applicable Interest Period, the spread adjustment, or method for calculating or determining such spread adjustment, (which
may be a positive or negative value or zero) that has been selected by Agent and Borrower giving due consideration to (i) any
selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement
of the LIBOR Rate with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body or (ii) any evolving
or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread
adjustment, for the replacement of the LIBOR Rate with the applicable Unadjusted Benchmark Replacement for United States dollar-denominated
syndicated credit facilities at such time.

 

“Benchmark
Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational
changes (including changes to the definition of “Base Rate”, the definition of “Interest Period”, timing
and frequency of determining rates and making payments of interest and other administrative matters) that Agent decides may be
appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof
by Agent in a manner substantially consistent with market practice (or, if Agent decides that adoption of any portion of such
market practice is not administratively feasible or if Agent determines that no market practice for the administration of the
Benchmark Replacement exists, in such other manner of administration as Agent decides is reasonably necessary in connection with
the administration of this Agreement).

 

“Benchmark
Replacement Date” means the earlier to occur of the following events with respect to the LIBOR Rate:

 

(a)         
in the case of clause (a) or (b) of the definition of “Benchmark Transition Event,” the later of (i) the
date of the public statement or publication of information referenced therein and (ii) the date on which the administrator
of the LIBOR Rate permanently or indefinitely ceases to provide the LIBOR Rate; or

 

Schedule
1.1

    Page 5

     

    

 

(b)           in
the case of clause (c) of the definition of “Benchmark Transition Event,” the date of the public statement or publication
of information referenced therein.

 

“Benchmark
Transition Event” means the occurrence of one or more of the following events with respect to the LIBOR Rate:

 

(a)          a
public statement or publication of information by or on behalf of the administrator of the LIBOR Rate announcing that such administrator
has ceased or will cease to provide the LIBOR Rate, permanently or indefinitely, provided that, at the time of such statement
or publication, there is no successor administrator that will continue to provide the LIBOR Rate;

 

(b)           
a public statement or publication of information by the regulatory supervisor for the administrator of the LIBOR Rate,
the Federal Reserve System of the United States (or any successor), an insolvency official with jurisdiction over the administrator
for the LIBOR Rate, a resolution authority with jurisdiction over the administrator for the LIBOR Rate or a court or an entity
with similar insolvency or resolution authority over the administrator for the LIBOR Rate, which states that the administrator
of the LIBOR Rate has ceased or will cease to provide the LIBOR Rate permanently or indefinitely, provided that, at the time of
such statement or publication, there is no successor administrator that will continue to provide the LIBOR Rate; or

 

(c)           a
public statement or publication of information by the regulatory supervisor for the administrator of the LIBOR Rate announcing
that the LIBOR Rate is no longer representative.

 

“Benchmark
Transition Start Date” means (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable
Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of information
of a prospective event, the 90th day prior to the expected date of such event as of such public statement or publication of information
(or if the expected date of such prospective event is fewer than 90 days after such statement or publication, the date of such
statement or publication) and (b) in the case of an Early Opt-in Election, the date specified by Agent or the Required Lenders,
as applicable, by notice to Borrower, Agent (in the case of such notice by the Required Lenders) and the Lenders.

 

“Benchmark
Unavailability Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred
with respect to the LIBOR Rate and solely to the extent that the LIBOR Rate has not been replaced with a Benchmark Replacement,
the period (x) beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement
has replaced the LIBOR Rate for all purposes hereunder in accordance with Section 2.12(d)(iii) and (y) ending at the
time that a Benchmark Replacement has replaced the LIBOR Rate for all purposes hereunder pursuant to Section 2.12(d)(iii).

 

"Benefit
Plan" means a "defined benefit plan" (as defined in Section 3(35) of ERISA) for which Borrower
or any of its Subsidiaries or ERISA Affiliates has been an "employer" (as defined in Section 3(5) of ERISA) within
the past six years.

 

Schedule
1.1

    Page 6

     

    

 

"Beneficial
Ownership Certification" means a certification regarding beneficial ownership as required by the Beneficial Ownership
Regulations.

 

"Beneficial
Ownership Regulation" means 31 C.F.R. § 1010.230.

 

"BHC
Act Affiliate" of a Person means an "affiliate" (as such term is defined under, and interpreted in accordance
with, 12 U.S.C. 1841(k)) of such Person.

 

"Board
of Directors" means, as to any Person, the board of directors (or comparable managers) of such Person, or any committee
thereof duly authorized to act on behalf of the board of directors (or comparable managers).

 

"Board
of Governors" means the Board of Governors of the Federal Reserve System of the United States (or any successor).

 

"Borrower"
has the meaning specified therefor in the preamble to the Agreement.

 

"Borrower
Materials" has the meaning specified therefor in Section 17.9(c) of the Agreement.

 

"Borrowing"
means a borrowing consisting of Revolving Loans made on the same day by the Lenders (or Agent on behalf thereof), or by Swing
Lender in the case of a Swing Loan, or by Agent in the case of a Protective Advance.

 

"Business
Day" means any day that is not a Saturday, Sunday, or other day on which banks are authorized or required to close in
the state of California, except that, if a determination of a Business Day shall relate to a LIBOR Rate Loan, the term "Business
Day" also shall exclude any day on which banks are closed for dealings in Dollar deposits in the London interbank market.

 

"Capital
Expenditures" means, with respect to any Person for any period, the amount of all expenditures by such Person and its
Subsidiaries during such period that are capital expenditures as determined in accordance with GAAP, whether such expenditures
are paid in cash or financed, but excluding, without duplication (a) expenditures made during such period in connection with
the replacement, substitution, or restoration of assets or properties pursuant to Section 2.4(e)(ii) of the Agreement,
(b) with respect to the purchase price of assets that are purchased substantially contemporaneously with the trade-in of
existing assets during such period, the amount that the gross amount of such purchase price is reduced by the credit granted by
the seller of such assets for the assets being traded in at such time, (c) expenditures made during such period to consummate
one or more Permitted Acquisitions, (d) capitalized software development costs to the extent such costs are deducted from
net earnings under the definition of EBITDA for such period, and (e) expenditures during such period that, pursuant to a
written agreement, are reimbursed by a third Person (excluding Borrower or any of its Affiliates).

 

"Capitalized
Lease Obligation" means that portion of the obligations under a Capital Lease that is required to be capitalized in accordance
with GAAP.

 

Schedule
1.1

    Page 7

     

    

 

"Capital
Lease" means a lease that is required to be capitalized for financial reporting purposes in accordance with GAAP.

 

"Cash
Equivalents" means (a) marketable direct obligations issued by, or unconditionally guaranteed by, the United States
or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within 1 year
from the date of acquisition thereof, (b) marketable direct obligations issued or fully guaranteed by any state of the United
States or any political subdivision of any such state or any public instrumentality thereof maturing within 1 year from the date
of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either Standard
& Poor's Rating Group ("S&P") or Moody's Investors Service, Inc. ("Moody's"), (c) commercial
paper maturing no more than 270 days from the date of creation thereof and, at the time of acquisition, having a rating of at
least A-1 from S&P or at least P-1 from Moody's, (d) certificates of deposit, time deposits, overnight bank deposits
or bankers' acceptances maturing within 1 year from the date of acquisition thereof issued by any bank organized under the laws
of the United States or any state thereof or the District of Columbia or any United States branch of a foreign bank having at
the date of acquisition thereof combined capital and surplus of not less than $1,000,000,000, (e) Deposit Accounts maintained
with (i) any bank that satisfies the criteria described in clause (d) above, or (ii) any other bank organized under
the laws of the United States or any state thereof so long as the full amount maintained with any such other bank is insured by
the Federal Deposit Insurance Corporation, (f) repurchase obligations of any commercial bank satisfying the requirements
of clause (d) of this definition or recognized securities dealer having combined capital and surplus of not less than $1,000,000,000,
having a term of not more than seven days, with respect to securities satisfying the criteria in clauses (a) or (d) above,
(g) debt securities with maturities of six months or less from the date of acquisition backed by standby letters of credit
issued by any commercial bank satisfying the criteria described in clause (d) above, and (h) Investments in money market
funds substantially all of whose assets are invested in the types of assets described in clauses (a) through (g) above.

 

"Cash
Management Services" means any cash management or related services including treasury, depository, return items, overdraft,
controlled disbursement, merchant store value cards, e-payables services, electronic funds transfer, interstate depository network,
automatic clearing house transfer (including the Automated Clearing House processing of electronic funds transfers through the
direct Federal Reserve Fedline system) and other cash management arrangements.

 

"CFC"
means a controlled foreign corporation (as that term is defined in the IRC) in which any Loan Party is a "United States shareholder"
within the meaning of Section 951(b) of the IRC.

 

"Change
of Control" means that:

 

(a)          any
Person or two or more Persons acting in concert (other than the Permitted Holders), shall have acquired beneficial ownership,
directly or indirectly, of Equity Interests of Borrower (or other securities convertible into such Equity Interests) representing
30% or more of the combined voting power of all Equity Interests of Borrower entitled (without regard to the occurrence of any
contingency) to vote for the election of members of the Board of Directors of Borrower; or

 

Schedule
1.1

    Page 8

     

    

 

(b)          
any Person or two or more Persons acting in concert (other than the Permitted Holders), shall have acquired by contract
or otherwise, or shall have entered into a contract or arrangement that, upon consummation thereof, will result in its or their
acquisition of the power to exercise, directly or indirectly, a controlling influence over the management or policies of Borrower
or control over the Equity Interests of such Person entitled to vote for members of the Board of Directors of Borrower on a fully-diluted
basis (and taking into account all such Equity Interests that such Person or group has the right to acquire pursuant to any option
right) representing 30% or more of the combined voting power of such Equity Interests; or

 

(c)          
during any period of 24 consecutive months commencing on or after the First Amended and Restated Closing Date, the occurrence
of a change in the composition of the Board of Directors of Borrower such that a majority of the members of such Board of Directors
are not Continuing Directors; or

 

(d)          
Borrower fails to own and control, directly or indirectly, 100% of the Equity Interests of each other Loan Party.

 

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

 

"Closing
Date" means the date on which Agent sends Borrower a written notice that each of the conditions precedent set forth on
Schedule 3.1 either have been satisfied or have been waived.

 

"Code"
means the California Uniform Commercial Code, as in effect from time to time.

 

"Collateral"
means all assets and interests in assets and proceeds thereof now owned or hereafter acquired by Borrower or its Subsidiaries
in or upon which a Lien is granted by such Person in favor of Agent or the Lenders under any of the Loan Documents.

 

"Collateral
Access Agreement" means a landlord waiver, bailee letter, or acknowledgement agreement of any lessor, warehouseman, processor,
consignee, or other Person in possession of, having a Lien upon, or having rights or interests in Borrower's or its Subsidiaries'
books and records, Equipment, or Inventory, in each case, in form and substance reasonably satisfactory to Agent.

 

Schedule
1.1

    Page 9

     

    

 

"Commitment"
means, with respect to each Lender, its Revolver Commitment, or its Term Loan Commitment as the context requires, and, with respect
to all Lenders, their Revolver Commitments, or their Term Loan Commitments as the context requires, in each case as such Dollar
amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 to the Agreement or in the
Assignment and Acceptance pursuant to which such Lender became a Lender under the Agreement, as such amounts may be reduced or
increased from time to time pursuant to assignments made in accordance with the provisions of Section 13.1 of the
Agreement.

 

"Commodity
Exchange Act" means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor
statute.

 

"Compliance
Certificate" means a certificate substantially in the form of Exhibit C-1 to the Agreement delivered by the
chief financial officer of Borrower to Agent.

 

"Confidential
Information" has the meaning specified therefor in Section 17.9(a) of the Agreement.

 

"Continuing
Director" means (a) any member of the Board of Directors who was a director (or comparable manager) of Borrower
on the First Amended and Restated Closing Date, and (b) any individual who becomes a member of the Board of Directors after
the First Amended and Restated Closing Date if such individual was approved, appointed or nominated for election to the Board
of Directors by either the Permitted Holders or a majority of the Continuing Directors, but excluding any such individual originally
proposed for election in opposition to the Board of Directors in office at the First Amended and Restated Closing Date in an actual
or threatened election contest relating to the election of the directors (or comparable managers) of Borrower and whose initial
assumption of office resulted from such contest or the settlement thereof.

 

"Control
Agreement" means a control agreement, in form and substance reasonably satisfactory to Agent, executed and delivered
by Borrower or one of its Subsidiaries, Agent, and the applicable securities intermediary (with respect to a Securities Account) or
bank (with respect to a Deposit Account).

 

"Copyright
Security Agreement" has the meaning specified therefor in the Guaranty and Security Agreement.

 

"Covered
Entity" means any of the following:

 

(a)       a
"covered entity" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);

 

(b)       a
"covered bank" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or

 

Schedule
1.1

    Page 10

     

    

 

(c)       a
"covered FSI" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

 

"Covered
Party" has the meaning specified therefor in Section 17.15 of this Agreement.

 

"Current
Assets" means, as at any date of determination, the total assets of Borrower and its Subsidiaries (other than cash, Cash
Equivalents and funds held for clients) which may properly be classified as current assets on a consolidated balance sheet
of Borrower and its Subsidiaries in accordance with GAAP.

 

"Current
Liabilities" means, as at any date of determination, the total liabilities of Borrower and its Subsidiaries which may
properly be classified as current liabilities (other than the current portion of the Term Loan , the Swing Loans, the Revolving
Loans and Borrower's client fund obligations) on a consolidated balance sheet of Borrower and its Subsidiaries in accordance
with GAAP.

 

"Default"
means an event, condition, or default that, with the giving of notice, the passage of time, or both, would be an Event of Default.

 

"Defaulting
Lender" means any Lender that (a) has failed to fund any amounts required to be funded by it under the Agreement
within 1 Business Day of the date that it is required to do so under the Agreement (including the failure to make available to
Agent amounts required pursuant to a Settlement or to make a required payment in connection with a Letter of Credit Disbursement),
(b) notified the Borrower, Agent, or any Lender in writing that it does not intend to comply with all or any portion of its
funding obligations under the Agreement, (c) has made a public statement to the effect that it does not intend to comply
with its funding obligations under the Agreement or under other agreements generally (as reasonably determined by Agent) under
which it has committed to extend credit, (d) failed, within 1 Business Day after written request by Agent, to confirm that
it will comply with the terms of the Agreement relating to its obligations to fund any amounts required to be funded by it under
the Agreement, (e) otherwise failed to pay over to Agent or any other Lender any other amount required to be paid by it under
the Agreement within 1 Business Day of the date that it is required to do so under the Agreement, or (f) (i) becomes
or is insolvent or has a parent company that has become or is insolvent or (ii) becomes the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee, or custodian or appointed for it, or has taken any action in furtherance
of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment or has a parent company that
has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, or custodian appointed
for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding
or appointment.

 

"Defaulting
Lender Rate" means (a) for the first 3 days from and after the date the relevant payment is due, the Base Rate,
and (b) thereafter, the interest rate then applicable to Revolving Loans that are Base Rate Loans (inclusive of the Base
Rate Margin applicable thereto).

 

Schedule
1.1

    Page 11

     

    

 

"Default
Right" has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§
252.81, 47.2 or 382.1, as applicable.

 

"Deposit
Account" means any deposit account (as that term is defined in the Code).

 

"Designated
Account" means the Deposit Account of Borrower identified on Schedule D-1 to the Agreement (or such other Deposit
Account of Borrower located at Designated Account Bank that has been designated as such, in writing, by Borrower to Agent).

 

"Designated
Account Bank" has the meaning specified therefor in Schedule D-1 to the Agreement (or such other bank that is
located within the United States that has been designated as such, in writing, by Borrower to Agent).

 

"Disbursement
Agreement" means a disbursement instruction letter, dated as of even date herewith, in form and substance reasonably
satisfactory to Agent, executed and delivered by Borrower.

 

"Disqualified
Equity Interests" shall mean any Equity Interest that, by its terms (or by the terms of any security or other Equity
Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures
or is mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise
(except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a
change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that
are accrued and payable and the termination of the Commitments), (b) is redeemable at the option of the holder thereof (other
than solely for Qualified Equity Interests), in whole or in part, (c) provides for the scheduled payments of dividends in
cash, or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute
Disqualified Equity Interests, in each case, prior to the date that is 180 days after the Maturity Date.

 

"Dollars"
or "$" means United States dollars.

 

"Drawing
Document" means any Letter of Credit or other document presented for purposes of drawing under any Letter of Credit,
including by electronic transmission such as SWIFT, electronic mail, facsimile or computer generated communication.

 

“Early
Opt-in Election” means the occurrence of:

 

(a)          (i) a
determination by Agent or (ii) a notification by the Required Lenders to Agent (with a copy to Borrower) that the Required
Lenders have determined that United States dollar-denominated syndicated credit facilities being executed at such time, or that
include language similar to that contained in Section 2.12(d)(iii) are being executed or amended, as applicable, to incorporate
or adopt a new benchmark interest rate to replace the LIBOR Rate, and

 

(b)          (i) the
election by Agent or (ii) the election by the Required Lenders to declare that an Early Opt-in Election has occurred and
the provision, as applicable, by Agent of written notice of such election to Borrower and the Lenders or by the Required Lenders
of written notice of such election to Agent.

 

Schedule
1.1

    Page 12

     

    

 

"Earn-Outs"
shall mean unsecured liabilities of a Loan Party arising under an agreement to make any deferred payment as a part of the Purchase
Price for a Permitted Acquisition, including performance bonuses or consulting payments in any related services, employment or
similar agreement, in an amount that is subject to or contingent upon the revenues, income, cash flow or profits (or the like) of
the target of such Permitted Acquisition.

 

"EBITDA"
means, with respect to any fiscal period:

 

(a)          Borrower's
consolidated net earnings (or loss),

 

minus

 

(b)          without
duplication, the sum of the following amounts of Borrower for such period to the extent included in determining consolidated net
earnings (or loss) for such period:

 

(i)          
any extraordinary, unusual, or non-recurring gains,

 

(ii)          interest
income,

 

(iii)          any
software development costs to the extent capitalized during such period,

 

(iv)          exchange,
translation or performance gains relating to any hedging transactions or foreign currency fluctuations, and

 

(v)          income
arising by reason of the application of FAS 141R, and

 

(vi)          any
sales commissions, costs and expenses to the extent capitalized during such period in accordance with ASC 606.

 

plus

 

(c)          without
duplication, the sum of the following amounts of Borrower for such period to the extent included in determining consolidated net
earnings (or loss) for such period:

 

(i)           any
extraordinary, unusual, or non-recurring non-cash losses,

 

(ii)          Interest
Expense,

 

(iii)           Tax
expense based on income, profits or capital, including federal, foreign, state, franchise and similar Taxes (and for the avoidance
of doubt, specifically excluding any sales Taxes or any other Taxes held in trust for a Governmental Authority),

 

(iv)           depreciation
and amortization for such period (including by way of clarification, amortization of deferred commission expenses to the extent
capitalized during such period in accordance with ASC 606),

 

Schedule
1.1

    Page 13

     

    

 

(v)           
with respect to any Permitted Acquisition or Permitted Disposition, costs, fees, charges, or expenses consisting of out-of-pocket
expenses owed by Borrower or any of its Subsidiaries to any Person for services performed by such Person in connection with such
Permitted Acquisition or such Permitted Disposition (including, for example, but without limitation, third-party costs and expenses
related to due diligence, quality of earnings analysis, SEC compliance, legal fees, valuation expenses and audit expenses related
to the business acquired in a Permitted Acquisition or a Permitted Disposition) incurred within 180 days prior to or after the
consummation of such Permitted Acquisition or such Permitted Disposition, (A) up to an aggregate amount (for all such items
in this clause (v)) for such Permitted Acquisition or such Permitted Disposition not to exceed the greater of (x) $500,000
or (y) 5.0% of the Purchase Price of such Permitted Acquisition or such Permitted Disposition and (B) in any amount to the
extent such costs, fees, charges, or expenses are paid with proceeds of new equity investments in exchange for Qualified Equity
Interests of Borrower contemporaneously made by Permitted Holders,

 

(vi)          with
respect to any Permitted Acquisitions after the First Amended and Restated Closing Date: (A) purchase accounting adjustments,
including, without limitation, a dollar for dollar adjustment for that portion of revenue that would have been recorded in the
relevant period had the balance of deferred revenue (unearned income) recorded on the closing balance sheet and before application
of purchase accounting not been adjusted downward to fair value to be recorded on the opening balance sheet in accordance with
GAAP purchase accounting rules; and (B) non-cash adjustments in accordance with GAAP purchase accounting rules under FASB Statement
No. 141 and EITF Issue No. 01-3, in the event that such an adjustment is required by Borrower's independent auditors, in each
case, as determined in accordance with GAAP,

 

(vii)         
fees, costs, charges and expenses, in respect of Earn-Outs incurred in connection with any Permitted Acquisition to the
extent permitted to be incurred under the Agreement that are required by the application of FAS 141R to be and are expensed by
Borrower and its Subsidiaries,

 

(viii)          non-cash
compensation expense (including deferred non-cash compensation expense), or other non-cash expenses or charges, arising from the
sale or issuance of Equity Interests, the granting of stock options, and the granting of stock appreciation rights and similar
arrangements (including any repricing, amendment, modification, substitution, or change of any such Equity Interests, stock option,
stock appreciation rights, or similar arrangements) minus the amount of any such expenses or charges when paid in cash to
the extent not deducted in the computation of net earnings (or loss),

 

(ix)          
one-time non-cash restructuring charges,

 

(x)           non-cash
exchange, translation, or performance losses relating to any hedging transactions or foreign currency fluctuations,

 

Schedule
1.1

    Page 14

     

    

 

(xi)          non-cash
losses on sales of fixed assets or write-downs of fixed or intangible assets,

 

(xii)          fees,
costs, charges and expenses, in respect for any Specified Equity Issuance, to the extent incurred within 180 days of the consummation
of the Specified Equity Issuance, up to an aggregate amount (for all such items in this clause (xii)) not to exceed $250,000,

 

(xiii)           fees
and expenses in respect of any amendment, waiver or consent with respect to this Agreement and the other Loan Documents, to the
extent (A) incurred within 180 days of the consummation of such amendment, waiver or consent and (B) paid to or on behalf of the
Agent or the Lenders or legal counsel engaged by the Borrower in connection with any amendment, waiver or consent (and including
the third party out-of-pocket expenses incurred by Borrower in connection with the quality of earnings report delivered to Agent
on December 14, 2019), and

 

(xiv)          (A) with
respect to any Permitted Acquisition, without duplication, one-time restructuring and integration charges to the extent actually
incurred (excluding, for purposes of clarity, anticipated charges) including employee severance payments, travel related to integration
activities, and with respect to the relocation or closing of business locations, lease terminations, moving costs, recruiting
fees, duplicate employee wages and other relocation or closing costs, in each case to the extent incurred within 180 days of the
consummation of such Permitted Acquisition (or solely with respect to closing of business locations, employee severance payments
and lease terminations, within 365 days of the consummation of such Permitted Acquisition), (B) pro forma adjustments attributable
to headcount reductions made during the period January 1, 2020 through June 30, 2020 (excluding, for purposes of clarity, anticipated
reductions),  and related severance expense, as supported by reasonably detailed calculations delivered and reasonably acceptable
to Agent up to an aggregate amount not to exceed $500,000, and (C) royalties associated with time clock vendors with contracts
expiring within six (6) months of the test date, up to an aggregate amount not to exceed $600,000 for any one Reference Period,
up to an aggregate amount (for all such items in this clause (xiv)) not to exceed 15% of EBITDA for any such Reference
Period (calculated without giving effect to this clause (xiv),

 

in
each case, determined on a consolidated basis in accordance with GAAP.

 

For
the purposes of calculating EBITDA hereunder, for any period of 4 consecutive fiscal quarters (each, a "Reference Period"),
if at any time during such Reference Period (and after the Closing Date), Borrower or any of its Subsidiaries shall have made
a Permitted Acquisition, EBITDA for such Reference Period shall be calculated after giving pro forma effect thereto (including
pro forma adjustments arising out of events which are directly attributable to such Permitted Acquisition, are factually
supportable, and are expected to have a continuing impact, in each case to be agreed by Agent) or in such other manner acceptable
to Agent as if any such Permitted Acquisition or adjustment occurred on the first day of such Reference Period.

 

Schedule
1.1

    Page 15

     

    

 

"EEA
Financial Institution" means (a) any credit institution or investment firm established in any EEA Member Country which
is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent
of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country
which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision
with its parent.

 

"EEA
Member Country" means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

 

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

 

"Employee
Benefit Plan" means an "employee benefit plan" within the meaning of Section 3(3) of ERISA which any Loan Party
establishes for the benefit of its employees or for which any Loan Party has liability to make a contribution, including by reason
of being an ERISA Affiliate.

 

"Environmental
Action" means any written complaint, summons, citation, notice, directive, order, claim, litigation, investigation, judicial
or administrative proceeding, judgment, letter, or other written communication from any Governmental Authority, or any third party
involving violations of Environmental Laws or releases of Hazardous Materials (a) from any assets, properties, or businesses
of any Borrower, any Subsidiary of a Borrower, or any of their predecessors in interest, (b) from adjoining properties or
businesses, or (c) from or onto any facilities which received Hazardous Materials generated by any Borrower, any Subsidiary
of a Borrower, or any of their predecessors in interest.

 

"Environmental
Law" means any applicable federal, state, provincial, foreign or local statute, law, rule, regulation, ordinance, code,
binding and enforceable guideline, binding and enforceable written policy, or rule of common law now or hereafter in effect and
in each case as amended, or any judicial or administrative interpretation thereof, including any judicial or administrative order,
consent decree or judgment, in each case, to the extent binding on Borrower or its Subsidiaries, relating to the environment,
the effect of the environment on employee health, or Hazardous Materials, in each case as amended from time to time.

 

"Environmental
Liabilities" means all liabilities, monetary obligations, losses, damages, costs and expenses (including all reasonable
fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines,
penalties, sanctions, and interest incurred as a result of any claim or demand, or Remedial Action required, by any Governmental
Authority or any third party, and which relate to any Environmental Action.

 

"Environmental
Lien" means any Lien in favor of any Governmental Authority for Environmental Liabilities.

 

"Equipment"
means equipment (as that term is defined in the Code).

 

Schedule
1.1

    Page 16

     

    

 

"Equity
Interest" means, with respect to a Person, all of the shares, options, warrants, interests, participations, or other
equivalents (regardless of how designated) of or in such Person, whether voting or nonvoting, including capital stock (or
other ownership or profit interests or units), preferred stock, or any other "equity security" (as such term
is defined in Rule 3a11-1 of the General Rules and Regulations promulgated by the SEC under the Exchange Act).

 

"ERISA"
means the Employee Retirement Income Security Act of 1974, as amended, and any successor statute thereto.

 

"ERISA
Affiliate" means (a) any Person subject to ERISA whose employees are treated as employed by the same employer as
the employees of Borrower or its Subsidiaries under IRC Section 414(b), (b) any trade or business subject to ERISA whose
employees are treated as employed by the same employer as the employees of Borrower or its Subsidiaries under IRC Section 414(c),
(c) solely for purposes of Section 302 of ERISA and Section 412 of the IRC, any organization subject to ERISA that
is a member of an affiliated service group of which Borrower or any of its Subsidiaries is a member under IRC Section 414(m),
or (d) solely for purposes of Section 302 of ERISA and Section 412 of the IRC, any Person subject to ERISA that
is a party to an arrangement with Borrower or any of its Subsidiaries and whose employees are aggregated with the employees of
Borrower or its Subsidiaries under IRC Section 414(o).

 

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

 

"European
Union" means the European Union, as formed by the Treaty on European Union on November 1, 1993 (the Maastricht Treaty).

 

"Event
of Default" has the meaning specified therefor in Section 8 of the Agreement.

 

"Excess"
has the meaning specified therefor in Section 2.14 of the Agreement.

 

"Excess
Cash Flow" means, with respect to any fiscal period and with respect to Borrower determined on a consolidated basis in
accordance with GAAP the result of:

 

(a)         
TTM EBITDA,

 

plus

 

(b)         
the sum of

 

(i)         
foreign, United States, state, or local Tax refunds,

 

(ii)         
interest
income,

 

(iii)         post-closing Purchase Price adjustments received in cash during such period in connection with a Permitted Acquisition,
and

 

(iv)         the amount of any decrease in Net Working Capital for such period,

 

Schedule
1.1

    Page 17

     

    

 

minus

 

(c)          
the sum of

 

(i)         
the
cash portion of Interest Expense and loan servicing fees paid during such fiscal period,

 

(ii)         the
cash portion of Taxes (on account of income, profits, or capital) paid during such period,

 

(iii)        all scheduled and voluntary principal payments permitted under the Agreement during such period (including permitted payments
of Seller Subordinated Indebtedness) and all voluntary prepayments in respect of the outstanding principal balance of the Term
Loan made by Borrower, each to the extent such payments are permitted under the Agreement,

 

(iv)         the
cash portion of Capital Expenditures (net of (y) any proceeds reinvested in accordance with the proviso to Section 2.4(e)(ii) of
the Agreement, and (z) any proceeds of related financings with respect to such expenditures) made during such period,

 

(v)         
the amount of cash items included in the calculation of EBITDA pursuant to clauses (c)(v), (vii), (xi), (xii) and (xiii) of
the definition of EBITDA for such period (to the extent that the applicable payments are not made with the proceeds of
Indebtedness (other than proceeds of Revolving Loans)),

 

(vi)         the
distributed earnings of Borrower or its Subsidiaries to the extent that the declaration or payment of dividends or similar distributions
by Borrower or such Subsidiary is permitted under the Agreement,

 

(vii)         the
amount of any increase in Net Working Capital for such period, and

 

(viii)         any
non-cash purchase accounting adjustments with respect to a Permitted Acquisition added to Borrower's net income (or loss) pursuant
to clause (c)(vi)(B) of the definition of EBITDA.

 

"Exchange
Act" means the Securities Exchange Act of 1934, as in effect from time to time.

 

"Excluded
Swap Obligation" means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion
of the guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or
any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity
Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor's failure
for any reason not to constitute an "eligible contract participant" as defined in the Commodity Exchange Act and the
regulations thereunder at the time the guarantee of such Guarantor or the grant of such security interest becomes effective with
respect to such related Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such
exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such guarantee or security
interest is or becomes illegal.

 

Schedule
1.1

    Page 18

     

    

 

"Excluded
Taxes" means any of the following Taxes imposed on or with respect to a Recipient, (a) Taxes imposed on the net
income or net profits of any such Recipient (including any branch profits Taxes), in each case (i) imposed by the jurisdiction
(or by any political subdivision or Taxing authority thereof) in which such Recipient is organized or the jurisdiction (or
by any political subdivision or taxing authority thereof) in which such Recipient's principal office is located in each case
as a result of a present or former connection between such Recipient and the jurisdiction or Taxing authority imposing the Tax
(other than any such connection arising solely from such Recipient having executed, delivered or performed its obligations or
received payment under, or enforced its rights or remedies under the Agreement or any other Loan Document); (ii) United States
Taxes resulting from a Lender's or a Participant's failure to comply with the requirements of Section 16.2 of the
Agreement, (iii) any United States federal withholding Taxes imposed on amounts payable to a Foreign Lender with respect
to an applicable interest in a Loan or Commitment pursuant to the applicable law and based upon the applicable withholding rate
in effect at the time such Foreign Lender becomes a party to the Agreement (or designates a new lending office), provided that
Excluded Taxes shall not include (A) any amount that such Foreign Lender (or its assignor, if any) was previously
entitled to receive pursuant to Section 16.1 of the Agreement, if any, with respect to such withholding Tax at the
time such Foreign Lender becomes a party to the Agreement (or designates a new lending office), and (B) additional United
States federal withholding Taxes that may be imposed after the time such Foreign Lender becomes a party to the Agreement (or designates
a new lending office), as a result of a change in law, rule, regulation, order or other decision with respect to any of the foregoing
by any Governmental Authority, and (iv) any United States federal withholding Taxes imposed under FATCA.

 

"Existing
Letters of Credit" means those letters of credit described on Schedule E-2 to the Agreement.

 

"Extraordinary
Receipts" means (a) so long as no Event of Default has occurred and is continuing, proceeds of judgments, proceeds
of settlements, or other consideration of any kind received in connection with any cause of action or claim, and (b) if an
Event of Default has occurred and is continuing, any payments received by Borrower or any of its Subsidiaries not in the ordinary
course of business (and not consisting of proceeds described in Section 2.4(e)(ii) of the Agreement) consisting
of (i) proceeds of judgments, proceeds of settlements, or other consideration of any kind received in connection with any
cause of action or claim, (ii) indemnity payments (other than to the extent such indemnity payments are immediately payable
to a Person that is not an Affiliate of Borrower or any of its Subsidiaries, and (iii) any purchase price adjustment received
in connection with any purchase agreement.

 

"FATCA"
means Sections 1471 through 1474 of the IRC, as of the date of the Agreement (or any amended or successor version that is substantively
comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations
thereof and any agreement entered into pursuant to Section 1471(b)(1) of the IRC.

 

Schedule
1.1

    Page 19

     

    

 

"FCPA"
means the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder.

 

"Fee
Letter" means that certain amended and restated fee letter, dated effective as of January 1, 2019, between Borrower and
Agent, in form and substance reasonably satisfactory to Agent, as such fee letter is amended, amended and restated, or otherwise
modified from time to time

 

"Federal
Funds Rate" means, for any period, a fluctuating interest rate per annum equal to, for each day during such period,
the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published
on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day
which is a Business Day, the average of the quotations for such day on such transactions received by Agent from three Federal
funds brokers of recognized standing selected by it (and, if any such rate is below zero, then the rate determined pursuant to
this definition shall be deemed to be zero).

 

“Federal
Reserve Bank of New York’s Website” means the website of the Federal Reserve Bank of New York at http://www.newyorkfed.org,
or any successor source.

 

"First
Amended and Restated Closing Date" means May 25, 2017.

 

"Fixed
Charges" means, with respect to any fiscal period and with respect to Borrower determined on a consolidated basis in
accordance with GAAP, the sum, without duplication, of (a) Interest Expense accrued (other than interest paid-in-kind, amortization
of financing fees, and other non-cash Interest Expense) during such period, (b) principal payments in respect of Indebtedness
that are required to be paid during such period, and (c) all federal, state, and local income Taxes accrued during such period,
and (d) all Restricted Payments paid (whether in cash or other property, other than common Equity Interest) during such
period.

 

"Fixed
Charge Coverage Ratio" means, with respect to any fiscal period and with respect to Borrower determined on a consolidated
basis in accordance with GAAP, the ratio of (a) EBITDA for such period minus Capital Expenditures made (to the extent not
already incurred in a prior period) or incurred during such period, to (b) Fixed Charges for such period.

 

"Foreign
Lender" means any Lender or Participant that is not a U.S. Person.

 

"Fourth
Amendment" means that certain Waiver and Amendment No. 4 to Credit Agreement dated as of November 11, 2019 among Borrower,
Agent and Lenders.

 

"Funded
Indebtedness" means, as of any date of determination, all Indebtedness for borrowed money (including by way of clarification,
Earn-Outs) or letters of credit of Borrower, determined on a consolidated basis in accordance with GAAP, including, in any event,
but without duplication, with respect to Borrower and its Subsidiaries, the Revolver Usage, the Term Loan, and the amount of their
Capitalized Lease Obligations.

 

"Funding
Date" means the date on which a Borrowing occurs.

 

Schedule
1.1

    Page 20

     

    

 

"Funding Losses"
has the meaning specified therefor in Section 2.12(b)(ii) of the Agreement.

 

"GAAP"
means generally accepted accounting principles as in effect from time to time in the United States, consistently applied.

 

"Governing
Documents" means, with respect to any Person, the certificate or articles of incorporation, by-laws, or other organizational
documents of such Person.

 

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

 

"Guarantor"
means (a) each Subsidiary of Borrower, and (b) each other Person that becomes a guarantor after the Closing Date pursuant
to Section 5.11 of the Agreement.

 

"Guaranty and
Security Agreement" means the Amended and Restated Guaranty and Security Agreement, dated as of March 29, 2018 with the
Agreement, in form and substance reasonably satisfactory to Agent, executed and delivered by Borrower and each of the Guarantors
to Agent.

 

"Hazardous
Materials" means (a) substances that are defined or listed in, or otherwise classified pursuant to, any applicable
laws or regulations as "hazardous substances," "hazardous materials," "hazardous wastes,"
"toxic substances," or any other formulation intended to define, list, or classify substances by reason of deleterious
properties such as ignitability, corrosivity, reactivity, carcinogenicity, reproductive toxicity, or "EP toxicity",
(b) oil, petroleum, or petroleum derived substances, natural gas, natural gas liquids, synthetic gas, drilling fluids, produced
waters, and other wastes associated with the exploration, development, or production of crude oil, natural gas, or geothermal resources,
(c) any flammable substances or explosives or any radioactive materials, and (d) asbestos in any form or electrical equipment
that contains any oil or dielectric fluid containing levels of polychlorinated biphenyls in excess of 50 parts per million.

 

"Hedge Agreement"
means a "swap agreement" as that term is defined in Section 101(53B)(A) of the Bankruptcy Code.

 

"Hedge Obligations"
means any and all obligations or liabilities, whether absolute or contingent, due or to become due, now existing or hereafter arising,
of Borrower or its Subsidiaries arising under, owing pursuant to, or existing in respect of Hedge Agreements entered into with
one or more of the Hedge Providers.

 

"Hedge Provider"
means Wells Fargo or any of its Affiliates.

 

"Increase"
has the meaning specified therefor in Section 2.14.

 

 Schedule 1.1

    Page 21

     

    

 

"Increase
Date" has the meaning specified therefor in Section 2.14.

 

"Increase
Joinder" has the meaning specified therefor in Section 2.14.

 

"Indebtedness"
as to any Person means (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced
by bonds, debentures, notes, or other similar instruments and all reimbursement or other obligations in respect of letters of
credit, bankers acceptances, or other financial products, (c) all obligations of such Person as a lessee under Capital Leases,
(d) all obligations or liabilities of others secured by a Lien on any asset of such Person, irrespective of whether such
obligation or liability is assumed, (e) all obligations of such Person to pay the deferred purchase price of assets (other
than trade payables incurred in the ordinary course of business and repayable in accordance with customary trade practices and,
for the avoidance of doubt, other than royalty payments payable in the ordinary course of business in respect of non-exclusive
licenses), including by way of clarification, Earn-Outs, (f) all monetary obligations of such Person owing under Hedge Agreements
(which amount shall be calculated based on the amount that would be payable by such Person if the Hedge Agreement were terminated
on the date of determination), (g) any Disqualified Equity Interests of such Person, and (h) any obligation of such
Person guaranteeing or intended to guarantee (whether directly or indirectly guaranteed, endorsed, co-made, discounted, or sold
with recourse) any obligation of any other Person that constitutes Indebtedness under any of clauses (a) through (g) above.
For purposes of this definition, (i) the amount of any Indebtedness represented by a guaranty or other similar instrument
shall be the lesser of the principal amount of the obligations guaranteed and still outstanding and the maximum amount for which
the guaranteeing Person may be liable pursuant to the terms of the instrument embodying such Indebtedness, and (ii) the amount
of any Indebtedness which is limited or is non-recourse to a Person or for which recourse is limited to an identified asset shall
be valued at the lesser of (A) if applicable, the limited amount of such obligations, and (B) if applicable, the fair
market value of such assets securing such obligation.

 

"Indemnified
Liabilities" has the meaning specified therefor in Section 10.3 of the Agreement.

 

"Indemnified
Person" has the meaning specified therefor in Section 10.3 of the Agreement.

 

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

 

"Insolvency
Proceeding" means any proceeding commenced by or against any Person under any provision of the Bankruptcy Code or under
any other state or federal bankruptcy or insolvency law, assignments for the benefit of creditors, formal or informal moratoria,
compositions, extensions generally with creditors, or proceedings seeking reorganization, arrangement, or other similar relief.

 

"Installment
Amount" has the meaning specified therefor in Section 2.2 of the Agreement.

 

 Schedule 1.1

    Page 22

     

    

 

"Intercompany
Subordination Agreement" means the Amended and Restated Intercompany Subordination Agreement, dated as of even date with
the Agreement, executed and delivered by Borrower, each of its Subsidiaries, and Agent, the form and substance of which is reasonably
satisfactory to Agent.

 

"Interest
Expense" means, for any period, the aggregate of the interest expense of Borrower for such period, determined on a consolidated
basis in accordance with GAAP.

 

"Interest
Period" means, with respect to each LIBOR Rate Loan, a period commencing on the date of the making of such LIBOR Rate
Loan (or the continuation of a LIBOR Rate Loan or the conversion of a Base Rate Loan to a LIBOR Rate Loan) and ending 1,
3, or 6 months thereafter; provided, that (a) interest shall accrue at the applicable rate based upon the LIBOR Rate
from and including the first day of each Interest Period to, but excluding, the day on which any Interest Period expires, (b) any
Interest Period that would end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless
such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business
Day, (c) with respect to an Interest Period that begins on the last Business Day of a calendar month (or on a day for which
there is no numerically corresponding day in the calendar month at the end of such Interest Period), the Interest Period shall
end on the last Business Day of the calendar month that is 1, 3, or 6 months after the date on which the Interest Period began,
as applicable, and (d) Borrower may not elect an Interest Period which will end after the Maturity Date.

 

"Investment"
means, with respect to any Person, any investment by such Person in any other Person (including Affiliates) in the form of
loans, guarantees, advances, capital contributions (excluding (a) commission, travel, and similar advances to officers and
employees of such Person made in the ordinary course of business, and (b) bona fide accounts receivable arising in
the ordinary course of business), or acquisitions of Indebtedness, Equity Interests, or all or substantially all of the assets
of such other Person (or of any division or business line of such other Person), and any other items that are or would be classified
as investments on a balance sheet prepared in accordance with GAAP. The amount of any Investment shall be the original cost of
such Investment plus the cost of all additions thereto, without any adjustment for increases or decreases in value, or write-ups,
write-downs, or write-offs with respect to such Investment.

 

"IP
Reporting Certificate" means a certificate in the form of Exhibit I-1 to the Agreement.

 

"IRC"
means the Internal Revenue Code of 1986, as in effect from time to time.

 

"ISH"
means iSystems Holdings, LLC, a Delaware limited liability company.

 

"ISIH"
means iSystems Intermediate Holdco, Inc., a Delaware corporation.

 

"ISP"
means, with respect to any Letter of Credit, the International Standby Practices 1998 (International Chamber of Commerce Publication
No. 590) and any version or revision thereof accepted by the Issuing Bank for use.

 

 Schedule 1.1

    Page 23

     

    

 

"Issuer
Document" means, with respect to any Letter of Credit, a letter of credit application, a letter of credit agreement,
or any other document, agreement or instrument entered into (or to be entered into) by Borrower in favor of Issuing Bank
and relating to such Letter of Credit.

 

"Issuing
Bank" means Wells Fargo or any other Lender that, at the request of Borrower and with the consent of Agent, agrees, in
such Lender's sole discretion, to become an Issuing Bank for the purpose of issuing Letters of Credit pursuant to Section 2.11
of the Agreement, and Issuing Bank shall be a Lender.

 

"IT
Assets" means the computer software, hardware, firmware, middleware and platforms, interfaces, systems, networks, information
technology equipment, facilities, websites, infrastructure and associated documentation owned, operated or controlled by or on
behalf of each Loan Party or its Subsidiaries.

 

"Lender"
has the meaning set forth in the preamble to the Agreement, shall include Issuing Bank and the Swing Lender, and shall also include
any other Person made a party to the Agreement pursuant to the provisions of Section 13.1 of the Agreement and "Lenders"
means each of the Lenders or any one or more of them.

 

"Lender
Group" means each of the Lenders (including Issuing Bank and the Swing Lender) and Agent, or any one or more of
them.

 

"Lender
Group Expenses" means all (a) costs or expenses (including Taxes and insurance premiums) required to be paid
by Borrower or its Subsidiaries under any of the Loan Documents that are paid, advanced, or incurred by the Lender Group, (b) reasonable
documented out-of-pocket fees or charges paid or incurred by Agent in connection with the Lender Group's transactions with Borrower
or its Subsidiaries under any of the Loan Documents, including, photocopying, notarization, couriers and messengers, telecommunication,
public record searches, filing fees, recording fees, publication, real estate surveys, real estate title policies and endorsements,
and environmental audits, (c) Agent's customary fees and charges imposed or incurred in connection with any background checks
or OFAC/PEP searches related to Borrower or its Subsidiaries, (d) Agent's customary and reasonable fees and charges (as adjusted
from time to time) with respect to the disbursement of funds (or the receipt of funds) to or for the account of Borrower
(whether by wire transfer or otherwise), together with any out-of-pocket costs and expenses incurred in connection therewith,
(e) customary and reasonable charges imposed or incurred by Agent resulting from the dishonor of checks payable by or to
any Loan Party, (f) reasonable documented out-of-pocket costs and expenses paid or incurred by the Lender Group to correct
any default or enforce any provision of the Loan Documents, or during the continuance of an Event of Default, in gaining possession
of, maintaining, handling, preserving, storing, shipping, selling, preparing for sale, or advertising to sell the Collateral,
or any portion thereof, irrespective of whether a sale is consummated, (g) financial examination, appraisal, and valuation
fees and expenses of Agent related to any financial examinations, appraisals, or valuation to the extent of the fees and charges
(and up to the amount of any limitation) provided in Section 2.10 of the Agreement, (h) Agent's and each
Initial Lender's reasonable costs and expenses (including reasonable documented attorneys' fees and expenses) relative to
third party claims or any other lawsuit or adverse proceeding paid or incurred, whether in enforcing or defending the Loan Documents
or otherwise in connection with the transactions contemplated by the Loan Documents , Agent's Liens in and to the Collateral,
or the Lender Group's relationship with Borrower or any of its Subsidiaries, (i) Agent's and each Initial Lender's reasonable
documented out-of-pocket third-party costs and expenses (including reasonable documented attorneys' fees and due diligence expenses) incurred
in advising, structuring, drafting, reviewing, administering (including travel, meals, and lodging), syndicating (including reasonable
costs and expenses relative to the rating of the Term Loan , CUSIP, DXSyndicateTM, SyndTrak or other communication costs
incurred in connection with a syndication of the loan facilities), or amending, waiving, or modifying the Loan Documents , and
(j) Agent's and each Lender's reasonable documented costs and expenses (including reasonable documented attorneys, accountants,
consultants, and other advisors fees and expenses) incurred in terminating, enforcing (including attorneys, accountants,
consultants, and other advisors fees and expenses incurred in connection with a "workout," a "restructuring,"
or an Insolvency Proceeding concerning Borrower or any of its Subsidiaries or in exercising rights or remedies under the Loan
Documents ), or defending the Loan Documents irrespective of whether a lawsuit or other adverse proceeding is brought, or in taking
any enforcement action or any Remedial Action with respect to the Collateral.

 

Schedule 1.1

    Page 24

     

    

 

"Lender
Group Representatives" has the meaning specified therefor in Section 17.9 of the Agreement.

 

"Lender-Related
Person" means, with respect to any Lender, such Lender, together with such Lender's Affiliates, officers, directors,
employees, attorneys, and agents.

 

"Letter
of Credit" means a letter of credit (as that term is defined in the Code) issued by Issuing Bank.

 

"Letter
of Credit Collateralization" means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory
to Agent (including that Agent has a first priority perfected Lien in such cash collateral), including provisions that specify
that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of
the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to
be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage,
(b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably
satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries' rights under the Letters of Credit, or (c) providing
Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable
to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood
that the Letter of Credit Fee and all fronting fees set forth in this Agreement will continue to accrue while the Letters of Credit
are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

 

"Letter
of Credit Disbursement" means a payment made by Issuing Bank pursuant to a Letter of Credit.

 

Schedule 1.1

    Page 25

     

    

 

"Letter
of Credit Exposure" means, as of any date of determination with respect to any Lender, such Lender's participation in
the Letter of Credit Usage pursuant to Section 2.11(e) on such date.

 

"Letter
of Credit Fee" has the meaning specified therefor in Section 2.6(b) of the Agreement.

 

"Letter
of Credit Indemnified Costs" has the meaning specified therefor in Section 2.11(f) of the Agreement.

 

"Letter
of Credit Related Person" has the meaning specified therefor in Section 2.11(f) of the Agreement.

 

"Letter
of Credit Usage" means, as of any date of determination, the sum of (a) the aggregate undrawn amount of all outstanding
Letters of Credit, plus (b) the aggregate amount of outstanding reimbursement obligations with respect to Letters
of Credit which remain unreimbursed or which have not been paid through a Revolving Loan.

 

"Leverage
Ratio" means, as of any date of determination the result of (a) the sum of the amount of Borrower's Funded Indebtedness
as of such date to (b) Borrower's TTM EBITDA as of such date.

 

"LIBOR
Deadline" has the meaning specified therefor in Section 2.12(b)(i) of the Agreement.

 

"LIBOR
Notice" means a written notice in the form of Exhibit L-1 to the Agreement.

 

"LIBOR
Option" has the meaning specified therefor in Section 2.12(a) of the Agreement.

 

"LIBOR
Rate" means the rate per annum as published by ICE Benchmark Administration Limited (or any successor page or
other commercially available source as the Agent may designate from time to time) as of 11:00 a.m., London time, two Business
Days prior to the commencement of the requested Interest Period, for a term, and in an amount, comparable to the Interest Period
and the amount of the LIBOR Rate Loan requested (whether as an initial LIBOR Rate Loan or as a continuation of a LIBOR Rate Loan
or as a conversion of a Base Rate Loan to a LIBOR Rate Loan) by Borrower in accordance with this Agreement (and, if any such published
rate is below zero, then the LIBOR Rate shall be deemed to be zero). Each determination of the LIBOR Rate shall be made by the
Agent and shall be conclusive in the absence of manifest error.

 

"LIBOR
Rate Loan" means each portion of a Revolving Loan or the Term Loan that bears interest at a rate determined by reference
to the LIBOR Rate.

 

"LIBOR
Rate Margin" has the meaning set forth in the definition of Applicable Margin.

 

"Lien"
means any mortgage, deed of trust, pledge, hypothecation, assignment, charge, deposit arrangement, encumbrance, easement, lien
(statutory or other), security interest, or other security arrangement and any other preference, priority, or preferential arrangement
of any kind or nature whatsoever, including any conditional sale contract or other title retention agreement, the interest of
a lessor under a Capital Lease and any synthetic or other financing lease having substantially the same economic effect as any
of the foregoing.

 

Schedule 1.1

    Page 26

     

    

 

"Liquidity"
means, as of any date of determination, the sum of Availability and Qualified Cash.

 

"Loan"
shall mean any Revolving Loan, Swing Loan, Protective Advance, or Term Loan made (or to be made) hereunder.

 

"Loan
Account" has the meaning specified therefor in Section 2.9 of the Agreement.

 

"Loan
Documents" means the Agreement, the Control Agreements, the Copyright Security Agreement, the Fee Letter, the Guaranty
and Security Agreement, the Intercompany Subordination Agreement, any Issuer Documents, the Letters of Credit, the Mortgages,
the Trademark Security Agreement, any note or notes executed by Borrower in connection with the Agreement and payable to any member
of the Lender Group, and any other instrument or agreement entered into, now or in the future, by Borrower or any of its Subsidiaries
and any member of the Lender Group in connection with the Agreement.

 

"Loan
Party" means Borrower or any Guarantor.

 

"Margin
Stock" as defined in Regulation U of the Board of Governors as in effect from time to time.

 

"Material
Adverse Effect" means (a) a material adverse effect in the business, operations, results of operations, assets,
liabilities or financial condition of Borrower and its Subsidiaries, taken as a whole, (b) a material impairment of Borrower's
and its Subsidiaries ability to perform their obligations under the Loan Documents to which they are parties or of the Lender
Group's ability to enforce the Obligations or realize upon the Collateral (other than as a result of as a result of an action
taken or not taken that is solely in the control of Agent), or (c) a material impairment of the enforceability or priority
of Agent's Liens with respect to all or a material portion of the Collateral.

 

"Material
Contract" means, with respect to any Person, (a) each contract or agreement to which such Person or any of its Subsidiaries
is a party involving aggregate consideration payable to or by such Person or such Subsidiary of $1,000,000 or more (other than
purchase orders in the ordinary course of the business of such Person or such Subsidiary and other than contracts that by their
terms may be terminated by such Person or Subsidiary in the ordinary course of its business upon less than 60 days' notice without
penalty or premium), and (b) all other contracts or agreements, the loss of which could reasonably be expected to result
in a Material Adverse Effect.

 

"Maturity
Date" means December 31, 2024.

 

"Maximum
Revolver Amount" means $10,000,000 minus the aggregate amount of reserves, if any, established by Agent under
Section 2.1(c) of the Agreement, and also decreased by the amount of reductions in the Revolver Commitments made
in accordance with Section 2.4(c) of the Agreement.

 

Schedule 1.1

    Page 27

     

    

 

"Minor
Acquisition" means an Acquisition for which the purchase price consideration is less than $2,500,000 and any Indebtedness
incurred with respect to such Acquisition constitutes Seller Subordinated Indebtedness under clause (j) of such definition.

 

"Moody's"
has the meaning specified therefor in the definition of Cash Equivalents.

 

"Mortgages"
means, individually and collectively, one or more mortgages, deeds of trust, or deeds to secure debt, executed and delivered by
Borrower or its Subsidiaries in favor of Agent, in form and substance reasonably satisfactory to Agent, that encumber the Real
Property Collateral.

 

"Net
Cash Proceeds" means:

 

(a)              
with respect to any sale or disposition by Borrower or any of its Subsidiaries of assets, the amount of cash proceeds received
(directly or indirectly) from time to time (whether as initial consideration or through the payment of deferred consideration) by
or on behalf of Borrower or its Subsidiaries, in connection therewith after deducting therefrom only (i) the amount of any
Indebtedness secured by any Permitted Lien on any asset (other than (A) Indebtedness owing to Agent or any Lender under the
Agreement or the other Loan Documents and (B) Indebtedness assumed by the purchaser of such asset) which is required
to be, and is, repaid in connection with such sale or disposition, (ii) reasonable fees, commissions, and expenses related
thereto and required to be paid by Borrower or such Subsidiary in connection with such sale or disposition, (iii) Taxes paid
or payable to any Taxing authorities by Borrower or such Subsidiary in connection with such sale or disposition, in each case
to the extent, but only to the extent, that the amounts so deducted are, at the time of receipt of such cash, actually paid or
payable to a Person that is not an Affiliate of Borrower or any of its Subsidiaries, and are properly attributable to such transaction;
and (iv) all amounts that are set aside as a reserve (A) for adjustments in respect of the purchase price of such assets,
(B) for any liabilities associated with such sale or casualty, to the extent such reserve is required by GAAP, and (C) for
the payment of unassumed liabilities relating to the assets sold or otherwise disposed of at the time of, or within 30 days after,
the date of such sale or other disposition, to the extent that in each case the funds described above in this clause (iv) are
(x) deposited into escrow with a third party escrow agent or set aside in a separate Deposit Account that is subject to a
Control Agreement in favor of Agent and (y) paid to Agent as a prepayment of the applicable Obligations in accordance with
Section 2.4(e) of the Agreement at such time when such amounts are no longer required to be set aside as such
a reserve; and

 

(b)              
with respect to the issuance or incurrence of any Indebtedness by Borrower or any of its Subsidiaries, or the issuance by Borrower
or any of its Subsidiaries of any Equity Interests, the aggregate amount of cash received (directly or indirectly) from time
to time (whether as initial consideration or through the payment or disposition of deferred consideration) by or on behalf
of Borrower or such Subsidiary in connection with such issuance or incurrence, after deducting therefrom only (i) reasonable
fees, commissions, and expenses related thereto and required to be paid by Borrower or such Subsidiary in connection with such
issuance or incurrence, (ii) Taxes paid or payable to any Taxing authorities by Borrower or such Subsidiary in connection
with such issuance or incurrence, in each case to the extent, but only to the extent, that the amounts so deducted are, at the
time of receipt of such cash, actually paid or payable to a Person that is not an Affiliate of Borrower or any of its Subsidiaries,
and are properly attributable to such transaction.

 

Schedule 1.1

    Page 28

     

    

 

"Net
Working Capital" means, as of any date of determination, Current Assets as of such date minus Current Liabilities as
of such date.

 

"Non-Consenting
Lender" has the meaning specified therefor in Section 14.2(a) of the Agreement.

 

"Non-Defaulting
Lender" means each Lender other than a Defaulting Lender.

 

"Obligations"
means (a) all loans (including the Term Loan and the Revolving Loans (inclusive of Protective Advances and Swing Loans)),
debts, principal, interest (including any interest that accrues after the commencement of an Insolvency Proceeding, regardless
of whether allowed or allowable in whole or in part as a claim in any such Insolvency Proceeding), reimbursement or indemnification
obligations with respect to Letters of Credit (irrespective of whether contingent), premiums, liabilities (including all amounts
charged to the Loan Account pursuant to the Agreement), obligations (including indemnification obligations), fees (including the
fees provided for in the Fee Letter), Lender Group Expenses (including any fees or expenses that accrue after the commencement
of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any such Insolvency
Proceeding), guaranties, and all covenants and duties of any other kind and description owing by any Loan Party arising out of,
under, pursuant to, in connection with, or evidenced by the Agreement or any of the other Loan Documents and irrespective of whether
for the payment of money, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter
arising, and including all interest not paid when due and all other expenses or other amounts that Borrower is required to pay
or reimburse by the Loan Documents or by law or otherwise in connection with the Loan Documents, and (b) all Bank Product
Obligations; provided that, anything to the contrary contained in the foregoing notwithstanding, the Obligations shall
exclude any Excluded Swap Obligation. Without limiting the generality of the foregoing, the Obligations of Borrower under the
Loan Documents include the obligation to pay (i) the principal of the Revolving Loans and the Term Loan , (ii) interest
accrued on the Revolving Loans and the Term Loan , (iii) the amount necessary to reimburse Issuing Bank for amounts paid
or payable pursuant to Letters of Credit, (iv) Letter of Credit commissions, fees (including fronting fees) and charges,
(v) Lender Group Expenses, (vi) fees payable under the Agreement or any of the other Loan Documents, and (vii) indemnities
and other amounts payable by any Loan Party under any Loan Document. Any reference in the Agreement or in the Loan Documents to
the Obligations shall include all or any portion thereof and any extensions, modifications, renewals, or alterations thereof,
both prior and subsequent to any Insolvency Proceeding.

 

"OFAC"
means The Office of Foreign Assets Control of the U.S. Department of the Treasury.

 

"Original
Closing Date" means March 20, 2014.

 

"Original
Term Loan" has the meaning specified therefor in Section 2.2 of the Agreement.

 

 Schedule 1.1

    Page 29

     

    

 

"Originating
Lender" has the meaning specified therefor in Section 13.1(e) of the Agreement.

 

"Other
Taxes" means all present or future stamp, value added, court or documentary, intangible, excise or property Taxes, recording,
filing or similar Taxes or charges that arise from any payment made under, from the execution, delivery, performance, enforcement
or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to this Agreement or
any Loan Document.

 

"Participant"
has the meaning specified therefor in Section 13.1(e) of the Agreement.

 

"Participant
Register" has the meaning set forth in Section 13.1(i) of the Agreement.

 

"Patriot
Act" has the meaning specified therefor in Section 4.13 of the Agreement.

 

"Paydown
Date" means December 2, 2019.

 

"Perfection
Certificate" means a certificate in the form of Exhibit P-1 to the Agreement.

 

"Permitted
Acquisition" means any Acquisition so long as:

 

(a)              
no Default or Event of Default shall have occurred and be continuing or would result from the consummation of the proposed Acquisition
and the proposed Acquisition is consensual,

 

(b)              
no Indebtedness will be incurred, assumed, or would exist with respect to Borrower or its Subsidiaries as a result of such Acquisition,
other than Indebtedness permitted under clauses (f), (g) or (m) of the definition of Permitted Indebtedness, and no Liens will
be incurred, assumed, or would exist with respect to the assets of Borrower or its Subsidiaries as a result of such Acquisition
other than Permitted Liens,

 

(c)              
other than with respect to the first two (2) Minor Acquisitions in any fiscal quarter, Borrower has provided Agent with written
confirmation, supported by reasonably detailed calculations, that on a pro forma basis (including pro forma adjustments arising
out of events which are directly attributable to such proposed Acquisition, are factually supportable, and are expected to have
a continuing impact, in each case, determined as if the combination had been accomplished at the beginning of the relevant period;
such eliminations and inclusions to be acceptable to Agent) created by adding the historical combined financial statements of
Borrower (including the combined financial statements of any other Person or assets that were the subject of a prior Permitted
Acquisition during the relevant period) to the historical consolidated financial statements of the Person to be acquired (or the
historical financial statements related to the assets to be acquired) pursuant to the proposed Acquisition, Borrower and its Subsidiaries
(i) would have been in compliance with the financial covenants in Section 7 of the Agreement for the 4 fiscal quarter period ended
immediately prior to the proposed date of consummation of such proposed Acquisition, and (ii) are projected to be in compliance
with the financial covenants in Section 7 of the Agreement for the 4 fiscal quarter period ended one year after the proposed date
of consummation of such proposed Acquisition,

 

 Schedule 1.1

    Page 30

     

    

 

(d)              
other than with respect to a Minor Acquisition, at least five (5) Business Days prior to the consummation of the proposed Acquisition,
Borrower has provided Agent with its due diligence package relative to the proposed Acquisition, including forecasted balance
sheets, profit and loss statements, and cash flow statements of the Person or assets to be acquired, all prepared on a basis consistent
with such Person's (or assets') historical financial statements, together with appropriate supporting details and a statement
of underlying assumptions for the 1 year period following the date of the proposed Acquisition, on a quarter by quarter basis),
in form and substance (including as to scope and underlying assumptions) reasonably satisfactory to Agent,

 

(e)              
immediately after giving effect to the consummation of the proposed Acquisition, Borrower shall have Availability plus Qualified
Cash in an amount equal to or greater than (i) $11,000,000 at all times prior to the date that Borrower has delivered a Compliance
Certificate pursuant to Section 5.1 for the fiscal quarter ending December 31, 2020 and (ii) $6,000,000 at all times thereafter,

 

(f)               
the assets being acquired or the Person whose Equity Interests are being acquired, on a pro forma basis after giving effect to
any eliminations and inclusions set forth in clause (c) above, did not have negative EBITDA during the 12 consecutive month period
most recently concluded prior to the date of the proposed Acquisition,

 

(g)              
Borrower has provided Agent with written notice of the proposed Acquisition at least 10 Business Days (or 5 Business Days with
respect to a Minor Acquisition) prior to the anticipated closing date of the proposed Acquisition and, not later than 5 Business
Days prior to the anticipated closing date of the proposed Acquisition, copies of the acquisition agreement and other material
documents relative to the proposed Acquisition, which agreement and documents must be reasonably acceptable to Agent,

 

(h)              
the assets being acquired (other than a de minimis amount of assets in relation to Borrower's and its Subsidiaries' total assets),
or the Person whose Equity Interests are being acquired, are useful in or engaged in, as applicable, the business of Borrower
and its Subsidiaries or a business reasonably related thereto,

 

(i)                
the assets being acquired or the Person whose Equity Interests are being acquired (other than: (x) a de minimis amount of assets
or Equity Interests in relation to the assets or Equity Interests being acquired or (y) subject to the clause (k) below, assets
or Equity Interests for which the total purchase consideration does not exceed $5,000,000 in the aggregate) are located within
the United States or the Person whose Equity Interests are being acquired is organized in a jurisdiction located within the United
States (or Canada and the United Kingdom so long as Agent obtains a first priority Lien in the assets being acquired),

 

(j)                
the subject assets or Equity Interests, as applicable, are being acquired directly by a Borrower or one of its Subsidiaries that
is a Loan Party, and, in connection therewith, Borrower or the applicable Loan Party shall have complied with Section 5.11 or
5.12 of the Agreement, as applicable, of the Agreement and, in the case of an acquisition of Equity Interests, Borrower or the
applicable Loan Party shall have demonstrated to Agent that the new Loan Parties have received consideration sufficient to make
the joinder documents binding and enforceable against such new Loan Parties, and

 

 Schedule 1.1

    Page 31

     

    

 

(k)              
the purchase consideration payable in respect of all Permitted Acquisitions (including by way of clarification, each Minor Acquisition)
occurring after the Closing Date (including the proposed Acquisition and including deferred payment obligations) shall not exceed
$30,000,000 plus any Net Cash Proceeds from the Specified Equity Issuance (to the extent such Net Cash Proceeds are received within
12 months prior to such Acquisition) in the aggregate; provided, that the purchase consideration payable in respect of any single
Acquisition or series of related Acquisitions shall not exceed $12,000,000 plus any Net Cash Proceeds from the Specified Equity
Issuance (to the extent such Net Cash Proceeds are received within 12 months prior to such Acquisition) in the aggregate.

 

"Permitted
Discretion" means a determination made in the exercise of reasonable (from the perspective of a secured commercial lender) business
judgment.

 

"Permitted
Dispositions" means:

 

(a)              
sales, abandonment, or other dispositions of Equipment that is worn, damaged, or obsolete or no longer used or useful in the ordinary
course of business and leases or subleases of Real Property not useful in the conduct of the business of Borrower and its Subsidiaries,

 

(b)              
sales of inventory to buyers in the ordinary course of business,

 

(c)              
the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of the Agreement or the other
Loan Documents,

 

(d)              
the licensing, on a non-exclusive basis, of patents, trademarks, copyrights, and other intellectual property rights in the ordinary
course of business,

 

(e)              
the granting of Permitted Liens,

 

(f)               
the sale or discount, in each case without recourse, of accounts receivable arising in the ordinary course of business, but only
in connection with the compromise or collection thereof,

 

(g)              
any involuntary loss, damage or destruction of property,

 

(h)              
any involuntary condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, or confiscation or requisition
of use of property,

 

(i)                
the leasing or subleasing of assets of Borrower or its Subsidiaries in the ordinary course of business,

 

(j)                
the sale or issuance of Equity Interests (other than Disqualified Equity Interests) of Borrower,

 

 Schedule 1.1

    Page 32

     

    

 

(k)              
(i) the lapse of registered patents, trademarks, copyrights and other intellectual property of Borrower and its Subsidiaries
to the extent not economically desirable in the conduct of their business or (ii) the abandonment of patents, trademarks,
copyrights, or other intellectual property rights in the ordinary course of business so long as (in each case under clauses (i) and
(ii)), (A) with respect to copyrights, such copyrights are not material revenue generating copyrights, and (B) such
lapse is not materially adverse to the interests of the Lender Group,

 

(l)                
the making of Restricted Payments that are expressly permitted to be made pursuant to the Agreement,

 

(m)            
the making of Permitted Investments,

 

(n)              
so long as no Event of Default has occurred and is continuing or would immediately result therefrom, transfers of assets (i) from
Borrower or any of its Subsidiaries to a Loan Party, and (ii) from any Subsidiary of Borrower that is not a Loan Party to
any other Subsidiary of Borrower,

 

(o)              
dispositions of assets acquired by Borrower and its Subsidiaries pursuant to a Permitted Acquisition consummated within 12 months
of the date of the proposed disposition so long as (i) the consideration received for the assets to be so disposed is at
least equal to the fair market value of such assets, (ii) the assets to be so disposed are not necessary or economically
desirable in connection with the business of Borrower and its Subsidiaries, and (iii) the assets to be so disposed are readily
identifiable as assets acquired pursuant to the subject Permitted Acquisition,

 

(p)              
regularly scheduled payment (but not prepayments or payments following acceleration) by Borrower (directly or indirectly) of
interest on the Seller Subordinated Indebtedness, in each case to the extent such payments are permitted to be made under the
applicable Seller Subordination Agreement, and

 

(q)              
sales or dispositions of assets (other than Equity Interests of Subsidiaries of Borrower or intellectual property of Borrower
or its Subsidiaries) not otherwise permitted in clauses (a) through (o) above so long as made at fair market value
and the aggregate fair market value of all assets disposed of in fiscal year (including the proposed disposition) would not
exceed $50,000.

 

"Permitted
Holder" means Red Oak Partners, LLC.

 

"Permitted
Indebtedness" means:

 

(a)              
Indebtedness evidenced by the Agreement or the other Loan Documents,

 

(b)              
Indebtedness set forth on Schedule 4.14 to the Agreement and any Refinancing Indebtedness in respect of such Indebtedness,

 

(c)              
Permitted Purchase Money Indebtedness and any Refinancing Indebtedness in respect of such Indebtedness,

 

 Schedule 1.1

    Page 33

     

    

 

(d)              
endorsement of instruments or other payment items for deposit,

 

(e)              
Indebtedness consisting of (i) unsecured guarantees incurred in the ordinary course of business with respect to surety and
appeal bonds, performance bonds, bid bonds, appeal bonds, completion guarantee and similar obligations; (ii) unsecured guarantees
arising with respect to customary indemnification obligations to purchasers in connection with Permitted Dispositions; and (iii) unsecured
guarantees with respect to Indebtedness of Borrower or one of its Subsidiaries, to the extent that the Person that is obligated
under such guaranty could have incurred such underlying Indebtedness,

 

(f)               
unsecured Indebtedness of Borrower that is incurred on the date of the consummation of a Permitted Acquisition solely for the
purpose of consummating such Permitted Acquisition so long as (i) no Event of Default has occurred and is continuing or would
result therefrom, (ii) such unsecured Indebtedness is not incurred for working capital purposes, (iii) such unsecured
Indebtedness does not mature prior to the date that is 12 months after the Maturity Date, (iv) such unsecured Indebtedness
does not amortize until 12 months after the Maturity Date, (v) such unsecured Indebtedness does not provide for the payment
of interest thereon in cash or Cash Equivalents prior to the date that is 12 months after the Maturity Date, and (vi) such
Indebtedness is subordinated in right of payment to the Obligations on terms and conditions reasonably satisfactory to Agent,

 

(g)              
Acquired Indebtedness in an amount not to exceed $500,000 outstanding at any one time,

 

(h)              
Indebtedness incurred in the ordinary course of business under performance, surety, statutory, or appeal bonds,

 

(i)                Indebtedness owed to any Person providing property, casualty, liability, or other insurance to Borrower or any of its Subsidiaries,
so long as the amount of such Indebtedness is not in excess of the amount of the unpaid cost of, and shall be incurred only to
defer the cost of, such insurance for the year in which such Indebtedness is incurred and such Indebtedness is outstanding only
during such year,

 

(j)                the incurrence by Borrower or its Subsidiaries of Indebtedness under Hedge Agreements that are incurred for the bona fide
purpose of hedging the interest rate, commodity, or foreign currency risks associated with Borrower's and its Subsidiaries' operations
and not for speculative purposes,

 

(k)              
Indebtedness incurred in the ordinary course of business in respect of credit cards, credit card processing services, debit cards,
stored value cards, commercial cards (including so-called "purchase cards", "procurement cards" or "p-cards"),
or Cash Management Services,

 

(l)                unsecured Indebtedness of Borrower owing to former employees, officers, or directors (or any spouses, ex-spouses, or estates of
any of the foregoing) incurred in connection with the repurchase by Borrower of the Equity Interests of Borrower that has
been issued to such Persons, so long as (i) no Default or Event of Default has occurred and is continuing or would result
from the incurrence of such Indebtedness, (ii) the aggregate amount of all such Indebtedness outstanding at any one time
does not exceed $500,000, and (iii) such Indebtedness is subordinated to the Obligations on terms and conditions reasonably
acceptable to Agent,

 

 Schedule 1.1

    Page 34

     

    

 

(m)              
Seller Subordinated Indebtedness,

 

(n)               
contingent liabilities in respect of any indemnification obligation, adjustment of purchase price, non-compete, or similar obligation
of Borrower or the applicable Loan Party incurred in connection with the consummation of one or more Permitted Acquisitions,

 

(o)               
Indebtedness composing Permitted Investments,

 

(p)              
unsecured Indebtedness incurred in respect of netting services, overdraft protection, and other like services, in each case, incurred
in the ordinary course of business,

 

(q)              
[reserved],

 

(r)                
Indebtedness in an aggregate outstanding principal amount not to exceed $50,000 at any time outstanding for all Subsidiaries of
Borrower that are CFCs; provided, that such Indebtedness is not directly or indirectly recourse to any of the Loan Parties
or of their respective assets,

 

(s)               
accrual of interest, accretion or amortization of original issue discount, or the payment of interest in kind, in each case, on
Indebtedness that otherwise constitutes Permitted Indebtedness, and

 

(t)                
any other unsecured Indebtedness incurred by Borrower or any of its Subsidiaries in an aggregate outstanding amount not to exceed
$50,000 at any one time.

 

"Permitted
Intercompany Advances" means loans made by (a) a Loan Party to another Loan Party, (b) a Subsidiary of Borrower
that is not a Loan Party to another Subsidiary of Borrower that is not a Loan Party, (c) a Subsidiary of Borrower that is
not a Loan Party to a Loan Party, so long as the parties thereto are party to the Intercompany Subordination Agreement, (d) a
Loan Party to a Subsidiary of Borrower that is not a Loan Party so long as (i) the aggregate amount of all such loans (by
type, not by the borrower) does not exceed $250,000 outstanding at any one time, (ii) at the time of the making of such
loan, no Event of Default has occurred and is continuing or would result therefrom, and (iii) Borrower has Availability plus
Qualified Cash of $3,000,000 or greater immediately after giving effect to each such loan.

 

"Permitted
Investments" means:

 

(a)              
Investments in cash and Cash Equivalents,

 

(b)              
Investments in negotiable instruments deposited or to be deposited for collection in the ordinary course of business,

 

 Schedule 1.1

    Page 35

     

    

 

(c)              
advances made in connection with purchases of goods or services in the ordinary course of business,

 

(d)              
Investments received in settlement of amounts due to any Loan Party or any of its Subsidiaries effected in the ordinary course
of business or owing to any Loan Party or any of its Subsidiaries as a result of Insolvency Proceedings involving an account debtor
or upon the foreclosure or enforcement of any Lien in favor of a Loan Party or its Subsidiaries,

 

(e)              
Investments owned by any Loan Party or any of its Subsidiaries on the Closing Date and set forth on Schedule P-1 to the
Agreement,

 

(f)               
guarantees permitted under the definition of Permitted Indebtedness,

 

(g)              
Permitted Intercompany Advances,

 

(h)              
Equity Interests or other securities acquired in connection with the satisfaction or enforcement of Indebtedness or claims due
or owing to a Loan Party or its Subsidiaries (in bankruptcy of customers or suppliers or otherwise outside the ordinary course
of business) or as security for any such Indebtedness or claims,

 

(i)                
deposits of cash made in the ordinary course of business to secure performance of operating leases,

 

(j)                
(i) non-cash loans and advances to employees, officers, and directors of Borrower or any of its Subsidiaries for the purpose
of purchasing Equity Interests in Borrower so long as the proceeds of such loans are used in their entirety to purchase such Equity
Interests in Borrower, and (ii) loans and advances to employees and officers of Borrower or any of its Subsidiaries in the
ordinary course of business for any other business purpose and in an aggregate amount not to exceed $25,000 at any one time,

 

(k)              
Permitted Acquisitions,

 

(l)                
Investments resulting from entering into (i) Bank Product Agreements, or (ii) agreements relative to Indebtedness that
is permitted under clause (j) of the definition of Permitted Indebtedness,

 

(m)             
equity Investments by any Loan Party in any Subsidiary of such Loan Party which is required by law to maintain a minimum net capital
requirement or as may be otherwise required by applicable law,

 

(n)              
Investments held by a Person acquired in a Permitted Acquisition to the extent that such Investments were not made in contemplation
of or in connection with such Permitted Acquisition and were in existence on the date of such Permitted Acquisition, and

 

(o)              
so long as no Event of Default has occurred and is continuing or would result therefrom, any other Investments in an aggregate
amount not to exceed $25,000 during the term of the Agreement.

 

 Schedule 1.1

    Page 36

     

    

 

"Permitted
Liens" means

 

(a)               
Liens granted to, or for the benefit of, Agent to secure the Obligations,

 

(b)              
Liens for unpaid Taxes, assessments, or other governmental charges or levies that either (i) are not yet delinquent, or (ii) do
not have priority over Agent's Liens and the underlying Taxes, assessments, or charges or levies are the subject of Permitted
Protests,

 

(c)               
judgment Liens arising solely as a result of the existence of judgments, orders, or awards that do not constitute an Event of
Default under Section 8.3 of the Agreement,

 

(d)              
Liens set forth on Schedule P-2 to the Agreement; provided, that to qualify as a Permitted Lien, any such Lien described
on Schedule P-2 to the Agreement shall only secure the Indebtedness that it secures on the First Amended and Restated Closing
Date and any Refinancing Indebtedness in respect thereof,

 

(e)               
the interests of lessors under operating leases and non-exclusive licensors under license agreements,

 

(f)               
purchase money Liens or the interests of lessors under Capital Leases to the extent that such Liens or interests secure Permitted
Purchase Money Indebtedness and so long as (i) such Lien attaches only to the asset purchased or acquired and the proceeds
thereof, and (ii) such Lien only secures the Indebtedness that was incurred to acquire the asset purchased or acquired or
any Refinancing Indebtedness in respect thereof,

 

(g)              
Liens arising by operation of law in favor of warehousemen, landlords, carriers, mechanics, materialmen, laborers, or suppliers,
incurred in the ordinary course of business and not in connection with the borrowing of money, and which Liens either (i) are
for sums not yet delinquent, or (ii) are the subject of Permitted Protests,

 

(h)              
Liens on amounts deposited to secure Borrower's and its Subsidiaries' obligations in connection with worker's compensation or
other unemployment insurance,

 

(i)                
Liens on amounts deposited to secure Borrower's and its Subsidiaries' obligations in connection with the making or entering into
of bids, tenders, or leases in the ordinary course of business and not in connection with the borrowing of money,

 

(j)                
Liens on amounts deposited to secure Borrower's and its Subsidiaries' reimbursement obligations with respect to surety or appeal
bonds obtained in the ordinary course of business,

 

(k)      
         with respect to any Real Property, easements, rights of way, and zoning
restrictions that do not materially interfere with or impair the use or operation thereof,

 

(l)                
non-exclusive licenses of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business,

 

Schedule
1.1

    Page 37

     

    

 

(m)              
Liens that are replacements of Permitted Liens to the extent that the original Indebtedness is the subject of permitted Refinancing
Indebtedness and so long as the replacement Liens only encumber those assets that secured the original Indebtedness,

 

(n)              
rights of setoff or bankers' liens upon deposits of funds in favor of banks or other depository institutions, solely to the extent
incurred in connection with the maintenance of such Deposit Accounts in the ordinary course of business,

 

(o)              
Liens granted in the ordinary course of business on the unearned portion of insurance premiums securing the financing of insurance
premiums to the extent the financing is permitted under the definition of Permitted Indebtedness,

 

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

 

(q)               
Liens solely on any cash earnest money deposits made by Borrower or any of its Subsidiaries in connection with any letter of intent
or purchase agreement with respect to a Permitted Acquisition,

 

(r)                
Liens assumed by Borrower or its Subsidiaries in connection with a Permitted Acquisition that secure Acquired Indebtedness,

 

(s)               
Liens granted to ISH solely on the equity interests of ISIH to secure obligations under the iSystems Subordinated Note, subject
to the provisions of the iSystems Subordination Agreement,

 

(t)                
[reserved], and

 

(u)              
other Liens which do not secure Indebtedness for borrowed money or letters of credit and as to which the aggregate amount of the
obligations secured thereby does not exceed $50,000.

 

"Permitted
Protest" means the right of Borrower or any of its Subsidiaries to protest any Lien (other than any Lien that secures
the Obligations), Taxes (other than payroll Taxes or Taxes that are the subject of a United States federal Tax lien), or rental
payment, provided that (a) a reserve with respect to such obligation is established on Borrower's or its Subsidiaries' books
and records in such amount as is required under GAAP, (b) any such protest is instituted promptly and prosecuted diligently
by Borrower or its Subsidiary, as applicable, in good faith, and (c) Agent is satisfied that, while any such protest is pending,
there will be no impairment of the enforceability, validity, or priority of any of Agent's Liens.

 

"Permitted
Purchase Money Indebtedness" means, as of any date of determination, Indebtedness (other than the Obligations, but including
Capitalized Lease Obligations), incurred after the Closing Date and at the time of, or within 20 days after, the acquisition of
any fixed assets for the purpose of financing all or any part of the acquisition cost thereof, in an aggregate principal amount
outstanding at any one time not in excess of $1,500,000.

 

 Schedule 1.1

    Page 38

     

    

 

"Person"
means natural persons, corporations, limited liability companies, limited partnerships, general partnerships, limited liability
partnerships, joint ventures, trusts, land trusts, business trusts, or other organizations, irrespective of whether they are legal
entities, and governments and agencies and political subdivisions thereof.

 

"Personal
Information" means any information relating to an identified or identifiable individual and that any Loan Party or its
Subsidiaries owns, licenses, maintains or possesses, or over which it retains custody or control, including but not limited to,
name; postal address; email address or other online contact information (such as an online user ID); telephone number; date of
birth; Social Security number (or its equivalent); driver’s license number (or other government-issued identification number);
account information (including, without limitation, financial account information); payment card data (including, without limitation,
primary account number, expiration date, service code, full magnetic stripe data or equivalent on a chip, CAV2/CVC2/CVV2/CID and
PIN number); access code, password, security questions and answers; medical information; health insurance information; biometric
data; persistent device identifiers (including, without limitation, internet protocol (IP) address); or any other unique identifier
or one or more factors specific to the individual’s physical, physiological, mental, economic, cultural or social identity.

 

"Platform"
has the meaning specified therefor in Section 17.9(c) of the Agreement.

 

"Privacy
Laws" means (i) all applicable international, federal, state, provincial and local laws, regulations, directives and
governmental requirements relating in any way to the privacy, confidentiality or security of Personal Information or IT Assets;
(ii) all applicable industry standards concerning privacy, data protection, confidentiality or information security of Personal
Information or IT Assets, including but not limited to, the Payment Card Industry (“PCI”) Data Security Standard and
any other applicable security standards, requirements, and assessment procedures published by PCI Security Standards Council (“PCI
SSC”) in connection with a PCI SSC program; and (iii) applicable provisions of each Loan Party’s and its Subsidiaries’
privacy and information security policies, statements or notices.

 

"Projections"
means Borrower's forecasted (a) balance sheets, (b) profit and loss statements, and (c) cash flow statements, all
prepared on a basis consistent with Borrower's historical financial statements, together with appropriate supporting details and
a statement of underlying assumptions.

 

"Pro
Rata Share" means, as of any date of determination:

 

(a)              
with respect to a Lender's obligation to make all or a portion of the Revolving Loans, with respect to such Lender's right to
receive payments of interest, fees, and principal with respect to the Revolving Loans, and with respect to all other computations
and other matters related to the Revolver Commitments or the Revolving Loans, the percentage obtained by dividing (i) the
Revolving Loan Exposure of such Lender by (ii) the aggregate Revolving Loan Exposure of all Lenders,

 

 Schedule 1.1

    Page 39

     

    

 

(b)              
with respect to a Lender's obligation to participate in the Letters of Credit, with respect to such Lender's obligation to reimburse
Issuing Bank, and with respect to such Lender's right to receive payments of Letter of Credit Fees, and with respect to all other
computations and other matters related to the Letters of Credit, the percentage obtained by dividing (i) the Revolving Loan
Exposure of such Lender by (ii) the aggregate Revolving Loan Exposure of all Lenders; provided, that if all of the
Revolving Loans have been repaid in full and all Revolver Commitments have been terminated, but Letters of Credit remain outstanding,
Pro Rata Share under this clause shall be determined as if the Revolver Commitments had not been terminated and based upon the
Revolver Commitments as they existed immediately prior to their termination,

 

(c)              
with respect to a Lender's obligation to make all or a portion of the Term Loan, with respect to such Lender's right to receive
payments of interest, fees, and principal with respect to the Term Loan, and with respect to all other computations and other
matters related to the Term Loan Commitments or the Term Loan, the percentage obtained by dividing (i) the Term Loan Exposure
of such Lender by (ii) the aggregate Term Loan Exposure of all Lenders,

 

(d)              
[Reserved], and

 

(e)              
with respect to all other matters and for all other matters as to a particular Lender (including the indemnification obligations
arising under Section 15.7 of the Agreement), the percentage obtained by dividing (i) the sum of the Term Loan
Exposure of such Lender plus the Revolving Loan Exposure by (ii) the sum of the aggregate Term Loan Exposure of all Lenders
plus the aggregate Revolving Loan Exposure, in any such case as the applicable percentage may be adjusted by assignments permitted
pursuant to Section 13.1; provided, that if all of the Loans have been repaid in full, all Letters of Credit
have been made the subject of Letter of Credit Collateralization, and all Commitments have been terminated, Pro Rata Share under
this clause shall be determined as if the Revolving Loan Exposures and Term Loan Exposures had not been repaid, collateralized,
or terminated and shall be based upon the Revolving Loan Exposures and Term Loan Exposures as they existed immediately prior to
their repayment, collateralization, or termination.

 

"Protective
Advances" has the meaning specified therefor in Section 2.3(d)(i) of the Agreement.

 

"Public
Lender" has the meaning specified therefor in Section 17.9(c) of the Agreement.

 

"Purchase
Price" means, with respect to any Acquisition, an amount equal to the aggregate consideration, whether cash, property
or securities (including the fair market value of any Equity Interests of Borrower issued in connection with such Acquisition
and including the maximum amount of Earn-Outs), paid or delivered by Borrower or one of its Subsidiaries in connection with such
Acquisition (whether paid at the closing thereof or payable thereafter and whether fixed or contingent), but excluding therefrom
(a) any cash of the seller and its Affiliates used to fund any portion of such consideration and (b) any cash or Cash
Equivalents acquired in connection with such Acquisition.

 

"QFC"
has the meaning assigned to the term "qualified financial contract" in, and shall be interpreted in accordance with,
12 U.S.C. § 5390(c)(8)(D).

 

 Schedule 1.1

    Page 40

     

    

 

"QFC Credit
Support" has the meaning specified therefor in Section 17.15 of this Agreement.

 

"Qualified
Cash" means, as of any date of determination, the amount of unrestricted cash and Cash Equivalents of Borrower and its
Subsidiaries that is in Deposit Accounts or in Securities Accounts, or any combination thereof, and which such Deposit Account
or Securities Account is the subject of a Control Agreement and is maintained by a branch office of the bank or securities intermediary
located within the United States.

 

"Qualified
Equity Interest" means and refers to any Equity Interests issued by Borrower (and not by one or more of its Subsidiaries) that
is not a Disqualified Equity Interest.

 

"Real Property"
means any estates or interests in real property now owned or hereafter acquired by Borrower or its Subsidiaries and the improvements
thereto.

 

"Real Property
Collateral" means any Real Property hereafter acquired by Borrower or its Subsidiaries with a fair market value in excess
of $250,000.

 

"Recipient"
means (a) the Agent, (b) any Lender, (c) any Participant; or (d) any Issuing Bank, as applicable.

 

"Record"
means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable
in perceivable form.

 

"Reference
Period" has the meaning set forth in the definition of EBITDA.

 

"Refinancing
Indebtedness" means refinancings, renewals, or extensions of Indebtedness so long as:

 

(a)              
such refinancings, renewals, or extensions do not result in an increase in the principal amount of the Indebtedness so refinanced,
renewed, or extended, other than by the amount of premiums paid thereon and the fees and expenses incurred in connection therewith
and by the amount of unfunded commitments with respect thereto,

 

(b)              
such refinancings, renewals, or extensions do not result in a shortening of the average weighted maturity (measured as of
the refinancing, renewal, or extension) of the Indebtedness so refinanced, renewed, or extended, nor are they on terms or
conditions that, taken as a whole, are or could reasonably be expected to be materially adverse to the interests of the Lenders,

 

(c)              
if the Indebtedness that is refinanced, renewed, or extended was subordinated in right of payment to the Obligations, then
the terms and conditions of the refinancing, renewal, or extension must include subordination terms and conditions that are at
least as favorable to the Lender Group as those that were applicable to the refinanced, renewed, or extended Indebtedness, and

 

Schedule 1.1

    Page 41

     

    

 

(d)             
the Indebtedness that is refinanced, renewed, or extended is not recourse to any Person that is liable on account of the
Obligations other than those Persons which were obligated with respect to the Indebtedness that was refinanced, renewed, or extended.

 

"Register"
has the meaning set forth in Section 13.1(h) of the Agreement.

 

"Registered
Loan" has the meaning set forth in Section 13.1(h) of the Agreement.

 

"Related Fund"
means any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in bank loans and
similar extensions of credit in the ordinary course and that is administered, advised or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers, advises or manages a Lender.

 

"Remedial Action"
means all actions taken to (a) clean up, remove, remediate, contain, treat, monitor, assess, evaluate, or in any way address
Hazardous Materials in the indoor or outdoor environment, (b) prevent or minimize a release or threatened release of Hazardous
Materials so they do not migrate or endanger or threaten to endanger public health or welfare or the indoor or outdoor environment,
(c) restore or reclaim natural resources or the environment, (d) perform any pre-remedial studies, investigations, or
post-remedial operation and maintenance activities, or (e) conduct any other actions with respect to Hazardous Materials required
by Environmental Laws.

 

"Replacement
Lender" has the meaning specified therefor in Section 2.13(b) of the Agreement.

 

"Report"
has the meaning specified therefor in Section 15.16 of the Agreement.

 

"Required Availability"
means that the sum of (a) Availability, plus (b) Qualified Cash exceeds $35,000,000.

 

"Required Lenders"
means, at any time, Lenders having or holding more than 50% of the sum of (a) the aggregate Revolving Loan Exposure of all
Lenders, plus (b) the aggregate Term Loan Exposure of all Lenders; provided, that (i) the Revolving Loan Exposure
and the Term Loan Exposure of any Defaulting Lender shall be disregarded in the determination of the Required Lenders, and (ii) at
any time there are 2 or more Lenders, "Required Lenders" must include at least 2 Lenders (who are not Affiliates of one
another).

 

"Restricted
Payment" means to (a) declare or pay any dividend or make any other payment or distribution, directly or indirectly,
on account of Equity Interests issued by Borrower (including any payment in connection with any merger or consolidation involving
Borrower) or to the direct or indirect holders of Equity Interests issued by Borrower in their capacity as such (other than
dividends or distributions payable in Qualified Equity Interests issued by Borrower, or (b) purchase, redeem, make any sinking
fund or similar payment, or otherwise acquire or retire for value (including in connection with any merger or consolidation involving
Borrower) any Equity Interests issued by Borrower, and (c) make any payment to retire, or to obtain the surrender of,
any outstanding warrants, options, or other rights to acquire Equity Interests of Borrower now or hereafter outstanding.

 

Schedule 1.1

    Page 42

     

    

 

"Revolver Commitment"
means, with respect to each Revolving Lender, its Revolver Commitment, and, with respect to all Revolving Lenders, their Revolver
Commitments, in each case as such Dollar amounts are set forth beside such Revolving Lender's name under the applicable heading
on Schedule C-1 to the Agreement or in the Assignment and Acceptance pursuant to which such Revolving Lender became a Revolving
Lender under the Agreement, as such amounts may be reduced or increased from time to time pursuant to assignments made in accordance
with the provisions of Section 13.1 of the Agreement. The Revolver Commitment with respect to each Revolving Lender
shall be a new Revolver Commitment to replace the "Revolver Commitment" that was terminated on the Paydown Date.

 

"Revolver Usage"
means, as of any date of determination, the sum of (a) the amount of outstanding Revolving Loans (inclusive of Swing Loans
and Protective Advances), plus (b) the amount of the Letter of Credit Usage.

 

"Revolving
Lender" means a Lender that has a Revolving Loan Commitment or that has an outstanding Revolving Loan.

 

"Revolving
Loan Exposure" means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination
of the Revolver Commitments, the amount of such Lender's Revolver Commitment, and (b) after the termination of the Revolver
Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender.

 

"Revolving
Loans" has the meaning specified therefor in Section 2.1(a) of the Agreement.

 

"Sanctioned
Entity" means (a) a country or territory or a government of a country or territory, (b) an agency of the government
of a country or territory, (c) an organization directly or indirectly controlled by a country or territory or its government,
or (d) a Person resident in or determined to be resident in a country or territory, in each case of clauses (a) through (d)
that is a target of Sanctions, including a target of any country sanctions program administered and enforced by OFAC.

 

"Sanctioned
Person" means, at any time (a) any Person named on the list of Specially Designated Nationals and Blocked Persons
maintained by OFAC, OFAC's consolidated Non-SDN list or any other Sanctions-related list maintained by any Governmental Authority,
(b) a Person or legal entity that is a target of Sanctions, (c) any Person operating, organized or resident in a Sanctioned
Entity, or (d) any Person directly or indirectly owned or controlled (individually or in the aggregate) by or acting on behalf
of any such Person or Persons described in clauses (a) through (c) above.

 

"Sanctions"
means individually and collectively, respectively, any and all economic sanctions, trade sanctions, financial sanctions, sectoral
sanctions, secondary sanctions, trade embargoes anti-terrorism laws and other sanctions laws, regulations or embargoes, including
those imposed, administered or enforced from time to time by: (a) the United States of America, including those administered
by OFAC, the U.S. Department of State, the U.S. Department of Commerce, or through any existing or future executive order, (b) the
United Nations Security Council, (c) the European Union or any European Union member state, (d) Her Majesty's Treasury
of the United Kingdom, or (e) any other Governmental Authority with jurisdiction over any member of Lender Group or any Loan
Party or any of their respective Subsidiaries or Affiliates.

 

Schedule 1.1

    Page 43

     

    

 

"S&P"
has the meaning specified therefor in the definition of Cash Equivalents.

 

"SEC"
means the United States Securities and Exchange Commission and any successor thereto.

 

"Securities
Account" means a securities account (as that term is defined in the Code).

 

"Securities
Act" means the Securities Act of 1933, as amended from time to time, and any successor statute.

 

"Second Amended
and Restated Closing Date" means March 29, 2018.

 

"Seller
Subordinated Indebtedness" means Indebtedness owing under (a) the Subordinated Amended and Restated Promissory
Note from Asure Software, Inc. dated September 30, 2018, in favor of Michael R. Gilberstadt, as Seller Representative and
attorney-in-fact., so long as (i) the aggregate principal amount for all such Indebtedness does not exceed $817,818.80
at any one time outstanding, and (ii) such Indebtedness is subordinated to the Obligations pursuant to a Seller
Subordination Agreement, (b) Subordinated Promissory Note from Asure Software, Inc. dated January 1, 2018 in favor of Debra
P. Berg, as Seller Representative and attorney-in-fact, so long as (i) the aggregate principal amount for all such
Indebtedness does not exceed $569,893.50 at any one time outstanding, and (ii) such Indebtedness is subordinated to the
Obligations pursuant to a Seller Subordination Agreement, (c) Contingent Payments owed to Austin HR, LLC under and pursuant
to Section 2.8 of that certain Asset Purchase Agreement dated April 1, 2018, by and among Asure Software, Inc., Austin HR,
LLC, Laurie Howell and David Hughen so long as (i) the aggregate principal amount for all such Indebtedness does not
exceed $1,125,000.00 at any one time outstanding, and (ii) such Indebtedness is subordinated to the Obligations pursuant
to a Seller Subordination Agreement, (d) Subordinated Promissory Note from Asure Software, Inc. dated April 1, 2018 to Wells
Fargo Bank, N.A. so long as (i) the aggregate principal amount for all such Indebtedness does not exceed $450,000.00 at
any one time outstanding, and (ii) such Indebtedness is subordinated to the Obligations pursuant to a Seller
Subordination Agreement, (e) Amended and Restated Subordinated Promissory Note from Asure Software, Inc. dated July 1, 2018,
n favor of Ralph A. Fornuto and The Canandaigua National Bank and Trust Company so long as (i) the aggregate
principal amount for all such Indebtedness does not exceed $2,207,534.46 at any one time outstanding, and (ii) such
Indebtedness is subordinated to the Obligations pursuant to a Seller Subordination Agreement, (f) Subordinated Promissory
Note dated July 1, 2018 from USA Payrolls, Inc. in favor of Freedom Pay, LLC d/b/a USA Payrolls of GA, so long as
(i) the aggregate principal amount for all such Indebtedness does not exceed $700,000.00 at any one time outstanding,
and (ii) such Indebtedness is subordinated to the Obligations pursuant to a Seller Subordination Agreement, (g)
Subordinated Promissory Note dated July 1, 2018 from USA Payrolls, Inc. in favor of USA Payrolls-Orlando, LLC, so long as
(i) the aggregate principal amount for all such Indebtedness does not exceed $162,500.00 at any one time outstanding,
and (ii) such Indebtedness is subordinated to the Obligations pursuant to a Seller Subordination Agreement, (h)
Subordinated Promissory Note dated July 1, 2018 from Asure Software, Inc. in favor of Sherwood Grand Ventures, so long as
(i) the aggregate principal amount for all such Indebtedness does not exceed $270,800.00 at any one time outstanding,
and (ii) such Indebtedness is subordinated to the Obligations pursuant to a Seller Subordination Agreement, (i) Amended
and Restated Subordinated Promissory Note dated July 1, 2019 from Evolution Payroll Processing LLC and Asure Software, Inc..
in favor of Gregory D. Erwin, Trustee of the Gregory D. Erwin 2016 Revocable Trust dated January 6, 2016, Daniel G. Pankow,
Gary L. Vander Woude and William F, Harvey, so long as (i) the aggregate principal amount for all such Indebtedness does
not exceed $1,918,802.16 at any one time outstanding, and (ii) such Indebtedness is subordinated to the Obligations
pursuant to a Seller Subordination Agreement, (j) unsecured Indebtedness (including Earn-Outs) owing to the seller(s) of
assets or Equity Interests to a Loan Party that is incurred by the applicable Loan Party solely for the purpose of
consummating a Permitted Acquisition (and is not incurred for working capital purposes) so long as (i) the aggregate
principal amount for all such unsecured Indebtedness does not exceed $15,000,000 at any one time outstanding, (ii) such
unsecured Indebtedness is subordinated to the Obligations on terms and conditions reasonably acceptable to Agent, (iii) no
Event of Default has occurred and is continuing or would result therefrom and (iv) such unsecured Indebtedness is
otherwise on terms and conditions (including all economic terms and the absence of covenants) reasonably acceptable to
Agent.

 

Schedule 1.1

    Page 44

     

    

 

"Seller Subordination
Agreement" means, any subordination agreement or provisions entered in connection with any Seller Subordinated Indebtedness
of the type set forth in clauses (a) through (j) of the definition thereof, in each case in form and substance satisfactory to
Agent, as each such agreement or provision is amended, restated, supplemented or otherwise modified from time to time.

 

"Senior Leverage
Ratio" means, as of any date of determination the result of (a) the sum of the amount of Borrower's Funded Indebtedness
(excluding Funded Indebtedness that is contractually subordinated to the Obligations in form and substance satisfactory to Agent)
as of such date to (b) Borrower's TTM EBITDA as of such date.

 

"Settlement"
has the meaning specified therefor in Section 2.3(e)(i) of the Agreement.

 

"Settlement
Date" has the meaning specified therefor in Section 2.3(e)(i) of the Agreement.

 

“SOFR”
with respect to any day means the secured overnight financing rate published for such day by the Federal Reserve Bank of New York,
as the administrator of the benchmark, (or a successor administrator) on the Federal Reserve Bank of New York’s Website.

 

"Solvent"
means, with respect to any Person as of any date of determination, that (a) at fair valuations, the sum of such
Person's debts (including contingent liabilities) is less than all of such Person's assets, (b) such Person is not
engaged or about to engage in a business or transaction for which the remaining assets of such Person are unreasonably small
in relation to the business or transaction or for which the property remaining with such Person is an unreasonably small
capital, and (c) such Person has not incurred and does not intend to incur, or reasonably believe that it will incur,
debts beyond its ability to pay such debts as they become due (whether at maturity or otherwise), and (d) such Person is
"solvent" or not "insolvent", as applicable within the meaning given those terms and similar terms under
applicable laws relating to fraudulent transfers and conveyances. For purposes of this definition, the amount of any
contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances
existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability
(irrespective of whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting
Standard No. 5).

 

Schedule 1.1

    Page 45

     

    

 

"Specified
Amendment" has the meaning specified therefor in the Fourth Amendment.

 

"Specified
Equity Issuance" means, an issuance of Equity Interests by Borrower on one or more occasions after the Closing Date so
long as (i) the proceeds of such issuance are used solely to fund all or a portion of the purchase price of a Permitted Acquisition
or Permitted Acquisitions (to the extent such proceeds are received within 12 months prior to such Acquisition), (ii) at the time
of such issuance, no Event of Default has occurred and is continuing or would result therefrom, (iii) any such issuance is made
in accordance with Borrower’s Governing Documents and applicable law and (iv) such Equity Interests are not Disqualified
Equity Interests.

 

"Standard Letter
of Credit Practice" means, for Issuing Bank, any domestic or foreign law or letter of credit practices applicable in the
city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices
applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the case may be, in each case,
(a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which
laws or letter of credit practices are required or permitted under ISP or UCP, as chosen in the applicable Letter of Credit.

 

"Subject Holder"
has the meaning specified therefor in Section 2.4(e)(v) of the Agreement.

 

"Subsidiary"
of a Person means a corporation, partnership, limited liability company, or other entity in which that Person directly or indirectly
owns or controls the Equity Interests having ordinary voting power to elect a majority of the Board of Directors of such corporation,
partnership, limited liability company, or other entity.

 

"Supported
QFC" has the meaning specified therefor in Section 17.15 of this Agreement.

 

"Swing Lender"
means Wells Fargo or any other Lender that, at the request of Borrower and with the consent of Agent agrees, in such Lender's sole
discretion, to become the Swing Lender under Section 2.3(b) of the Agreement.

 

"Swing Loan"
has the meaning specified therefor in Section 2.3(b) of the Agreement.

 

"Swing Loan
Exposure" means, as of any date of determination with respect to any Lender, such Lender's Pro Rata Share of the Swing
Loans on such date.

 

"Taxes"
means any all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding),
fees, assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction or by any political
subdivision or Taxing authority thereof or therein, and all interest, additions to Tax, penalties or similar liabilities with
respect thereto.

 

Schedule 1.1

    Page 46

     

    

 

"Tax Lender"
has the meaning specified therefor in Section 14.2(a) of the Agreement.

 

"Term Loan"
has the meaning specified therefor in Section 2.2 of the Agreement.

 

"Term Loan
Commitment" means, with respect to each Lender, its Term Loan Commitment, and, with respect to all Lenders, their Term
Loan Commitments, in each case as such Dollar amounts were set forth beside such Lender's name under the applicable heading on
Schedule C-1 hereto or in the Assignment and Acceptance pursuant to which such Lender became a Lender under the Agreement, as such
amounts may be reduced or increased from time to time pursuant to assignments made in accordance with the provisions of Section 13.1
of the Agreement.

 

"Term Loan
Exposure" means, with respect to any Term Loan Lender, as of any date of determination (a) prior to the funding of
the Term Loan, the amount of such Lender's Term Loan Commitment, and (b) after the funding of the Term Loan, the outstanding
principal amount of the Term Loan held by such Lender.

 

"Term Loan
Lender" means a Lender that has a Term Loan Commitment or that has a portion of the Term Loan.

 

“Term SOFR”
means the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

 

"Trademark
Security Agreement" has the meaning specified therefor in the Guaranty and Security Agreement.

 

"TTM EBITDA"
means, as of any date of determination, EBITDA of Borrower determined on a consolidated basis in accordance with GAAP, for the
12 month period most recently ended.

 

"TTM Recurring
Revenue" means all annually recurring software as a service, recurring hardware as a service, and cloud (all as determined
by Borrower’s accountants and satisfactory to Agent) subscription revenue and maintenance support revenue attributable to
Borrower or any of its Subsidiaries earned during such period, calculated on a basis consistent with the financial statements delivered
to Agent prior to the Closing Date, for the 12 month period most recently ended.

 

"UCP"
means, with respect to any Letter of Credit, the Uniform Customs and Practice for Documentary Credits 2007 Revision, International
Chamber of Commerce Publication No. 600 and any version or revision thereof accepted by Issuing Bank for use.

 

"Unfinanced
Capital Expenditures" means Capital Expenditures (a) not financed with the proceeds of any incurrence of
Indebtedness (other than the incurrence of any Revolving Loans), the proceeds of any sale or issuance of Equity Interests or
equity contributions, the proceeds of any asset sale (other than the sale of Inventory in the ordinary course of business) or
any insurance proceeds, and (b) that are not reimbursed by a third person (excluding any Loan Party or any of its
Affiliates) in the period such expenditures are made pursuant to a written agreement.

 

Schedule 1.1

    Page 47

     

    

 

"United States"
means the United States of America.

 

"Unused Line
Fee" has the meaning specified therefor in Section 2.10(b) of the Agreement.

 

"U.S. Person"
means any Person that is a "United States Person" as defined in Section 7701(a)(30) of the IRC.

 

"U.S. Special
Resolution Regimes" has the meaning specified therefor in Section 17.15 of this Agreement.

 

"Voidable Transfer"
has the meaning specified therefor in Section 17.8 of the Agreement.

 

"Wells Fargo"
means Wells Fargo Bank, National Association, a national banking association.

 

"Withholding
Agent" means Borrower or the Agent, as applicable.

 

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

 

Schedule 1.1

    Page 48

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