Document:

Exhibit 10.1

 

EXECUTION VERSION

 

AMENDMENT AND RESTATEMENT AGREEMENT dated as of
March 18, 2022 (this “Agreement”), to the Credit Agreement dated as of June 27, 2011 (as heretofore
amended, amended and restated, supplemented or otherwise modified, the “Existing Credit Agreement”), among IRON
MOUNTAIN INCORPORATED, a Delaware corporation (the “Parent”), IRON MOUNTAIN INFORMATION MANAGEMENT, LLC,
a Delaware limited liability company (the “Company”), the Subsidiaries of the Company party thereto as BORROWERS,
the LENDERS and the ISSUING BANKS party thereto, JPMORGAN CHASE BANK, N.A., as Administrative Agent, and JPMORGAN CHASE BANK, N.A., TORONTO
BRANCH, as Canadian Administrative Agent.

 

Capitalized terms used but not otherwise defined
herein (including in the preamble and recitals hereto) have the meanings assigned to them in the Existing Credit Agreement or the Restated
Credit Agreement (as defined below), as the context requires.

 

WHEREAS, the Lenders and the Issuing Banks party
to the Existing Credit Agreement have agreed to extend credit to the Borrowers under the Existing Credit Agreement on the terms and subject
to the conditions set forth therein;

 

WHEREAS, (i) the Borrowers intend to, pursuant
to Section 2.13 of the Existing Credit Agreement, (x) refinance all of the outstanding Revolving Commitments with 2022 Revolving
Commitments and (y) refinance all of the outstanding Term Loans (other than any Term Loans that constitute Existing Term B Loans)
with 2022 Term A Loans and (ii) the 2022 Revolving Lenders and the 2022 Term A Lenders have agreed to so provide the 2022 Revolving
Commitments and the 2022 Term A Loans to the Borrower, on the terms and conditions set forth herein;

 

WHEREAS, the Borrowers have requested to make certain
other amendments to the Existing Credit Agreement; and

 

WHEREAS, the Administrative Agent, the Canadian
Administrative Agent and each of the Lenders and the Issuing Banks party hereto (including any new Lenders and Issuing Banks party hereto),
which Lenders and Issuing Banks constitute the Majority Lenders under the Restated Credit Agreement and all of the 2022 Revolving Lenders,
the 2022 Term A Lenders and the Issuing Banks under the Restated Credit Agreement, are willing to agree to the foregoing, in each case
on the terms and subject to the conditions set forth herein.

 

NOW THEREFORE, in consideration of the mutual agreements
herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, and intending
to be legally bound, the parties hereto hereby agree as follows:

 

Section 1.          Amendment
and Restatement of the Basic Documents.

 

(a)            Effective
as of the A&R Closing Date (as defined below), the Existing Credit Agreement (including the Exhibits and Schedules thereto) is
hereby amended and restated in its entirety to be in the form attached as Annex I hereto (the Existing Credit Agreement, as
so amended and restated, being referred to herein as the “Restated Credit Agreement”).

 

    

     

    

 

(b)            Effective
as of the A&R Closing Date, each of (i) the Parent Guaranty, the Company Guaranty and the Subsidiary Guaranty shall be amended
and restated in their entireties to be in the forms attached as Annex II hereto and (ii) each of the Parent Pledge Agreement,
Company Pledge Agreement, Canadian Borrower Pledge Agreement and Subsidiary Pledge Agreement shall be amended and restated in their entireties
in to be in the forms attached as Annex III hereto.

 

Section 2.           Representations
and Warranties. Each of Parent and the Company jointly and severally represents and warrants to the Administrative Agent, the Canadian
Administrative Agent and to each of the Lenders and the Issuing Banks party hereto, as of the A&R Closing Date, that:

 

(a)            each
of the Parent and the other Obligors party hereto has all necessary corporate or limited liability company power and authority to execute
and deliver this Agreement and to perform its obligations under this Agreement and the Restated Credit Agreement; the execution and delivery
of this Agreement and performance by each of the Parent and the other Obligors party hereto have been duly authorized by all necessary
corporate or limited liability company action; and this Agreement has been duly and validly executed and delivered by each of the Parent
and the other Obligors party hereto and constitutes its legal, valid and binding obligation, enforceable in accordance with its terms,
except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization or moratorium or other similar laws relating
to the enforcement of creditors’ rights generally and by general equitable principles;

 

(b)            the
representations and warranties made by each of the Borrowers and the other Obligors in each Basic Document (as amended and restated as
contemplated herein) to which it is a party are true in all material respects (except for those representations and warranties qualified
by materiality, which shall be true in all respects) on and as of the A&R Closing Date (except to the extent such representations
and warranties relate to an earlier date, in which event they shall be true in all material respects (except for those representations
and warranties qualified by materiality, which shall be true in all respects) on and as of such earlier date); and

 

(c)            at
the time of and immediately after giving effect to this Agreement and the 2022 Revolving Commitments established hereby and any making
of Loans or issuance or deemed issuance of any Letters of Credit under the Restated Credit Agreement to be made on the A&R Closing
Date, no Default or Event of Default has occurred and is continuing.

 

Section 3.           Effectiveness.
This Agreement and the amendment and restatement of the Existing Credit Agreement as set forth in Section 1 hereof shall become effective
on the first date on which the following conditions shall have been satisfied (the “A&R Closing Date”):

 

(a)            The
Administrative Agent (or its counsel) shall have received (1) from (i) Parent and the Company, (ii) each other Borrower,
(iii) Lenders that together constitute the Majority Lenders under the Restated Credit Agreement, (iv) each Lender listed on
Schedule I or Schedule II to this Agreement and (v) each Issuing Bank either (A) a counterpart of this Agreement signed
on behalf of each such party or (B) evidence satisfactory to the Administrative Agent (which may include facsimile or other electronic
transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement, (2) from
each Obligor party thereto a counterpart of each of the amended and restated Company Guarantee, the amended and restated Company Pledge
Agreement, the amended and restated Parent Guaranty, the amended and restated Parent Pledge Agreement, the amended and restated Subsidiary
Guaranty, the amended and restated Subsidiary Pledge Agreement and the amended and restated Canadian Borrower Pledge Agreement, in each
case signed on behalf of each such party, and (3) to the extent any Lender so requests, from the Borrowers, a Note, signed on behalf
of each Borrower.

 

    2 

     

    

 

(b)            The
Administrative Agent shall have received, on behalf of itself and the Lenders, a favorable written opinion of (i) Weil, Gotshal &
Manges LLP, New York, Delaware and California counsel for the Obligors, (ii) CMS Derks Star Busmann N.V., Dutch counsel for the Obligors,
(iii) Stikeman Elliott LLP, Canadian counsel for the Obligors, and (iv) CMS Cameron McKenna Nabarro Olswang LLP, counsel for
the Obligors in England and Wales, in each case (A) dated the A&R Closing Date, (B) addressed to the Administrative Agent,
the Lenders and the Issuing Banks party hereto and (C) covering such matters relating to this Agreement and the transactions contemplated
hereunder and under the Restated Credit Agreement as the Administrative Agent shall reasonably request. The Borrower hereby requests such
counsel to deliver such opinions.

 

(c)            The
Administrative Agent shall have received (i) a copy of the certificate or articles of incorporation (or equivalent documents), including
all amendments thereto, of each Obligor, which certificate or articles of incorporation (or equivalent documents) shall be (x) in
the case of any Obligor organized in the United States (or any state thereof, but excluding Puerto Rico) certified as of a recent date
by the Secretary of State of the state of its organization and (y) in the case of any other Obligor, certified by a responsible officer
of the applicable Borrower as a true and complete copy of the certificate or articles of incorporation (or equivalent document) as of
the A&R Closing Date of such Obligor, and, in the case of any Obligor organized in the United States (or any state thereof) a certificate
as to the good standing (or equivalent) of each such Obligor as of a recent date to, from such Secretary of State; (ii) a certificate
of an authorized officer of each Obligor dated the A&R Closing Date and certifying (A) that attached thereto is a true and complete
copy of the by-laws (or equivalent documents) of such Obligor as in effect on the A&R Closing Date and at all times since a date prior
to the date of the resolutions described in clause (B) below, (B) that attached thereto is a true and complete copy of resolutions
duly adopted by the Board of Directors (or its equivalent) of such Obligor authorizing the execution, delivery and performance of this
Agreement and the transactions contemplated hereunder and under the Restated Credit Agreement and, in the case of the Borrower, the borrowings
under the Restated Credit Agreement, and that such resolutions have not been modified, rescinded or amended and are in full force and
effect, (C) that (x) in the case of any Obligor organized in the United States (or any state thereof, but excluding Puerto Rico),
the certificate or articles of incorporation of such Obligor have not been amended since the date of certification thereof by the Secretary
of State of the state of such Obligor’s organization furnished pursuant to clause (i) above or (y) in the case of any
other Obligor, that such certificate or articles of incorporation (or equivalent document) is a true and complete copy of the certificate
or articles of incorporation (or equivalent document) of such Obligor as of the A&R Closing Date, and (D) as to the incumbency
and specimen signature of each officer executing this Agreement, any Basic Document or any other document delivered in connection herewith
on behalf of such Obligor; and (iii) a certificate of another authorized officer as to the incumbency and specimen signature of the
authorized officer executing the certificate pursuant to clause (ii) above.

 

    3 

     

    

 

(d)            The
representations set forth in Section 2 shall be true and correct on and as of the A&R Closing Date, and the Administrative Agent
shall have received a certificate, dated the A&R Closing Date and signed by a financial officer of the Parent, confirming that the
representations set forth in Section 2(b) and 2(c) are true and correct.

 

(e)            Each
document (including any Uniform Commercial Code financing statement) required by the Security Documents or under applicable law or reasonably
requested by the Administrative Agent to be filed, registered or recorded in order to grant, preserve, protect and perfect the validity
and first priority of the security interests created or intended to be created by the Security Documents shall be in proper form for filing,
registration or recordation.

 

(f)            The
Administrative Agent shall have received all fees and other amounts due and payable on or prior to the A&R Closing Date, including,
to the extent invoiced at least 3 Business Days prior to the A&R Closing Date, reimbursement or payment of all out-of-pocket expenses
(including fees, charges and disbursements of counsel) required to be reimbursed or paid by the Obligors hereunder, under the Restated
Credit Agreement, under any other Basic Document or under any engagement letter or other fee letter entered into in connection with the
credit facilities established hereunder.

 

(g)            The
Administrative Agent shall have received a solvency certificate from a financial officer of the Parent on behalf of the Parent in form
and substance satisfactory to the Administrative Agent certifying that Parent and its subsidiaries, on a consolidated basis after giving
effect to the transactions contemplated hereunder and under the Restated Credit Agreement to occur on the A&R Closing Date, are solvent.

 

(h)            The
Lenders shall have received, at least three Business Days prior to the A&R Closing Date, to the extent requested at least 10 Business
Days prior to the A&R Closing Date, all documentation and other information required by regulatory authorities under applicable “know
your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act.

 

(i)            To
the extent any Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, the Lenders
shall have received a Beneficial Ownership Certification in relation to such Borrower if requested at least ten Business Days prior to
the A&R Closing Date.

 

(j)            The
Borrower shall make a borrowing request in accordance with Section 5.05 of the Restated Credit Agreement.

 

The Administrative Agent shall notify Parent, the
Borrower, the Lenders and the Issuing Banks of the A&R Closing Date, and such notice shall be conclusive and binding.

 

    4 

     

    

 

Section 4.           Effect
of Amendment and Restatement; No Novation.

  

(a)            Effective
as of the A&R Closing Date, the Revolving Commitment of each Lender party to the Existing Credit Agreement that had a Revolving Commitment
thereunder immediately prior to the effectiveness of this Agreement but that does not have a 2022 Revolving Commitment immediately following
the effectiveness of this Agreement (each, an “Exiting Lender”) shall terminate, and each Exiting Lender shall
exit the Existing Credit Agreement and will no longer be a Lender or a Revolving Lender under the Existing Credit Agreement or the Restated
Credit Agreement.

 

(b)            Except
as expressly set forth herein or in the Restated Credit Agreement, this Agreement and the Restated Credit Agreement shall not by implication
or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Administrative Agent, the Canadian
Administrative Agent, the Issuing Banks or the Lenders under the Existing Credit Agreement or any other Basic Document, and shall not
alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Existing
Credit Agreement or any other Basic Document, all of which shall continue in full force and effect in accordance with the provisions thereof.
Nothing herein shall be deemed to entitle any Obligor to a consent to, or a waiver, amendment, modification or other change of, any of
the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement, the Restated Credit Agreement
or any other Basic Document in similar or different circumstances.

 

(c)            On
and after the A&R Closing Date, each reference in the Restated Credit Agreement to “this Agreement”, “hereunder”,
 “hereof”, “herein”, or words of like import, as used in the Restated Credit Agreement, shall refer to the Existing
Credit Agreement as amended and restated in the form of the Restated Credit Agreement, and the term “Credit Agreement”,
as used in any Basic Document, shall mean the Restated Credit Agreement. This Agreement shall constitute a “Basic Document”
for all purposes of the Restated Credit Agreement and the other Basic Documents.

 

(d)            Neither
this Agreement nor the effectiveness of the Restated Credit Agreement shall extinguish the obligations for the payment of money outstanding
under the Existing Credit Agreement or discharge or release any Guarantee thereof. Nothing expressed or implied in this Agreement, the
Restated Credit Agreement or any other document contemplated hereby or thereby shall be construed as a release or other discharge of Parent
or the Borrower under the Existing Credit Agreement or any Obligor under any Basic Document (as defined in the Existing Credit Agreement)
from any of its obligations and liabilities thereunder.

 

(e)            It
is the intent of the parties hereto, and the parties hereto agree, that this Agreement shall not constitute a novation of the Existing
Credit Agreement, any other Basic Document (as defined in the Existing Credit Agreement) or any of the rights, obligations or liabilities
thereunder.

 

    5 

     

    

 

Section 5.           GOVERNING
LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS; JURY TRIAL WAIVER. THE PROVISIONS CONCERNING GOVERNING LAW AND WAIVER OF JURY TRIAL
AND JURISDICTION AND CONSENT TO SERVICE OF PROCESS SET FORTH IN SECTION 12.11 OF THE RESTATED CREDIT AGREEMENT SHALL APPLY TO THIS
AGREEMENT AND ARE INCORPORATED HEREIN BY THIS REFERENCE, MUTATIS MUTANDIS.

  

Section 6.           Counterparts.
This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument,
and any of the parties hereto may execute this Agreement by signing any such counterpart. The provisions concerning execution set forth
in Section 12.10 of the Restated Credit Agreement shall apply to this Agreement and incorporated herein by this reference, mutatis
mutandis.

 

Section 7.           Severability.
Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

Section 8.           Headings.
Captions and section headings appearing herein are included solely for convenience of reference and are not intended to affect the interpretation
of any provision of this Agreement.

 

Section 9.           Release
and Termination. Effective as of the A&R Closing Date:

 

(a)            each
of (x) Iron Mountain Fulfillment Services, LLC, (y) Iron Mountain Cloud, LLC and (z) ITRenew Worldwide, Inc. (collectively,
the “Released Subsidiaries”) (i) shall be released from, and shall no longer be a party to, and shall have no
obligations under, each of the Subsidiary Guaranty and the amended and restated Subsidiary Guaranty and the Subsidiary Pledge Agreement
and the amended and restated Subsidiary Pledge Agreement, (ii) shall cease to be a Subsidiary Guarantor, an Obligor or a Pledgor
for all purposes under the Restated Credit Agreement, the amended and restated Subsidiary Guaranty and the amended and restated Subsidiary
Pledge Agreement, as applicable and (iii) all security interests and other liens granted to or held by the Administrative Agent or
the Canadian Administrative Agent in any assets or property of the Released Subsidiaries pursuant to the Subsidiary Pledge Agreement shall
be terminated and released and of no further force or effect and all guarantees provided by the Released Subsidiaries under the Subsidiary
Guaranty shall be terminated and of no further force or effect;

 

(b)            the
security interests and other liens granted to or held by the Administrative Agent or the Canadian Administrative Agent in the Capital
Stock of the Released Subsidiaries pursuant to the Parent Pledge Agreement, Company Pledge Agreement and/or the Subsidiary Pledge Agreement,
as applicable, shall be terminated and released and of no further force or effect;

 

(c)            the
Amended and Restated Canadian Borrower Pledge Agreement, dated as of July 2, 2015 (as modified, amended, restated and/or supplemented
prior to the date hereof), by and among certain Canadian Borrowers and the Canadian Administrative Agent, shall be terminated and shall
be of no further force or effect and the pledges provided by any Obligor thereunder shall be terminated and of no further force or effect;
and

 

    6 

     

    

 

(d)            on
and after the A&R Closing Date, the Lenders party hereto hereby authorize and direct each of the Administrative Agent and the Canadian
Administrative Agent, and the Administrative Agent and the Canadian Administrative Agent, as applicable, agree to promptly execute and
deliver and file or cause to be filed, any UCC-3 termination statements, any PPSA termination statements and any other releases, notices
or documents necessary or reasonably requested by the Obligors to effect or evidence the release of the guarantees and security interests
and liens described in clauses (a) through (c) above. Each of the Lenders party hereto also authorize Stikeman Elliott LLP,
Canadian counsel for the Obligors, on and after the A&R Closing Date, to file a discharge of Registration No. 6960371 filed against
Iron Mountain Secure Shredding Canada, Inc. under the Personal Property Security Act (British Columbia).

   

Section 10.         Post-Closing
Obligations. Notwithstanding anything to the contrary in any Basic Document (as amended and restated on the A&R Closing Date),
stock certificates (and accompanying endorsements) representing Capital Stock pledged on the A&R Closing Date under the Parent Pledge
Agreement, Company Pledge Agreement, Subsidiary Pledge Agreement and/or the Canadian Borrower Pledge Agreement shall not be required to
be delivered on the A&R Closing Date (and shall not be required to be delivered until the Post-Closing Deadline (as defined below).
Each of the Parent, the Company and the other Obligors hereby covenants to deliver to the Administrative Agent or the Canadian Administrative
Agent, as applicable, all certificates representing Capital Stock pledged on the A&R Closing Date under the Parent Pledge Agreement,
Company Pledge Agreement, Subsidiary Pledge Agreement and/or the Canadian Borrower Pledge Agreement, together with all endorsements thereto,
on or prior to the date that is 30 days following the A&R Closing Date (as such date may be extended by the Administrative Agent in
its sole discretion, the “Post-Closing Deadline”), in each case, to the extent such stock certificates and endorsements
are required to be delivered to the Administrative Agent and/or the Canadian Administrative Agent, as applicable, under the Parent Pledge
Agreement, the Company Pledge Agreement, the Subsidiary Pledge Agreement or the Canadian Borrower Pledge Agreement, as applicable.

 

[Signature pages follow.]

 

    7 

     

    

 

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

 

	 	BORROWERS:
	 	 
	 	 
	 	IRON MOUNTAIN INCORPORATED
	 	IRON MOUNTAIN INFORMATION MANAGEMENT, LLC 
	 	IRON MOUNTAIN SECURE SHREDDING, INC.
	 	IRON MOUNTAIN INFORMATION MANAGEMENT
    SERVICES, INC.
	 	IRON MOUNTAIN CANADA OPERATIONS ULC
	 	IRON MOUNTAIN INFORMATION MANAGEMENT
    SERVICES CANADA, INC. 
	 	IRON MOUNTAIN SECURE SHREDDING CANADA, INC.
	 	 
	 	 
	 	By:	/s/ Deborah Marson 
	 	 	Name: Deborah Marson 
	 	 	Title: Executive Vice President, General Counsel
    and Secretary
	 	 
	 	IRON MOUNTAIN INTERNATIONAL (HOLDINGS)
    LIMITED
	 	IRON MOUNTAIN (UK) PLC
	 	 
	 	By:	/s/ Nicholas Ben Ford  
	 	 	Name: Nicholas Ben Ford 
	 	 	Title: Director
	 	 
	 	IRON MOUNTAIN INTERNATIONAL HOLDINGS
    BV
	 	 
	 	By:	/s/ Eric Boonstra 
	 	 	Name: Eric Boonstra
	 	 	Title: Managing Director

 

    

     

    

 

	 	SUBSIDIARY GUARANTORS
	 	 
	 	 
	 	IRON MOUNTAIN SECURE SHREDDING, INC.
	 	IRON MOUNTAIN INFORMATION MANAGEMENT SERVICES, INC.
	 	IRON MOUNTAIN INTELLECTUAL PROPERTY MANAGEMENT, INC.
	 	IRON MOUNTAIN GLOBAL LLC
	 	IRON MOUNTAIN US HOLDINGS, INC.
	 	IRON MOUNTAIN DATA CENTERS, LLC
	 	IRON MOUNTAIN DATA CENTERS SERVICES, LLC
	 	IM MORTGAGE SOLUTIONS, LLC
	 	IRON MOUNTAIN GLOBAL HOLDINGS, INC.
	 	NETTLEBED ACQUISITION CORP.
	 	IRON MOUNTAIN RECORDS MANAGEMENT (PUERTO RICO), INC.
	 	IRON MOUNTAIN CANADA OPERATIONS ULC
	 	 
	 	 
	 	By:	/s/ Deborah Marson
	 	Name: Deborah Marson
	 	Title:   Executive Vice
    President, General Counsel and Secretary
	 	 
	 	 
	 	INTERCEPT PARENT, INC.
	 	ITRENEW, INC.
	 	ESISO, LLC
	 	 
	 	 
	 	By:	/s/ Deborah Marson
	 	Name: Deborah Marson
	 	Title:   Secretary
	 	 
	 	 
	 	IRON MOUNTAIN (UK) PLC
	 	 
	 	 
	 	By:	/s/ Nicholas Ben Ford
	 	Name: Nicholas Ben Ford
	 	Title:   Director

 

     

     

    

 

	 	ADMINISTRATIVE
    AGENT:
	 	 
	 	 
	 	JPMORGAN CHASE BANK, N.A.
	 	 
	 	 
	 	By:	/s/ Eric Guggenheimer
	 	 	Name:	Eric Guggenheimer
	 	 	Title:	Executive Director
	 	 
	 	 
	 	CANADIAN
    ADMINISTRATIVE AGENT:
	 	 
	 	 
	 	JPMORGAN CHASE BANK, TORONTO BRANCH
	 	 
	 	 
	 	By:	/s/ Jeffrey Coleman
	 	 	Name:	Jeffrey Coleman
	 	 	Title:	Executive Director

 

     

     

    

 

	 	LENDERS:
	 	 
	 	JPMORGAN CHASE BANK, N.A., as a 2022 Term A Lender, a 2022 Revolving Lender and an Issuing Bank
	 	 
	 	By: 	/s/ Eric Guggenheimer
	 	 	Name:	 Eric Guggenheimer
	 	 	Title:	Executive Director

 

     

     

    

 

	 	LENDERS:
	 	 
	 	Bank of America, N.A., as a 2022 Term A Lender, a 2022
Revolving Lender and an Issuing Bank
	 	 
	 	By: 	/s/ John F. Lynch
	 	 	Name: 	John F. Lynch
	 	 	Title:   	Senior Vice President

 

     

     

    

 

	 	LENDERS:
	 	 
	 	BARCLAYS BANK PLC, as a 2022 Term Loan A Lender, a 2022 Revolving Lender and an Issuing Bank
	 	 
	 	By:	/s/ Sean Duggan
	 	Name: 	Sean Duggan
	 	Title: 	Director

 

     

     

    

 

	 	LENDERS:
	 	 
	 	Citizens Bank N.A., as a 2022 Term A Lender and a 2022 Revolving Lender
	 	 
	 	 
	 	By:	/s/ Michael Makaitis
	 	 	Name:	Michael Makaitis
	 	 	Title:	Senior Vice President

 

     

     

    

 

	 	LENDERS:
	 	 
	 	 
	 	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK as
2022 Term A Lender and 2022 Revolving Lender
	 	 
		By:	/s/ Paul Arens
	 	 	Name: Paul Arens
	 	 	Title: Director
	 	 	 
	 	 	 
	 	By:	/s/ Gordon Yip
	 	 	Name: Gordon Yip
	 	 	Title: Director

 

     

     

    

 

	 	LENDERS:
	 	 
	 	Morgan Stanley Bank, N.A., as a 2022 Term A
Lender, and a 2022 Revolving Lender
	 	 
	 	 
	 	By: 	/s/ Michael King
	 	 	Name:	Michael King
	 	 	Title:	Authorized Signatory

 

     

     

    

 

	 	LENDERS:
	 	 
	 	Morgan Stanley Senior Funding, Inc., as
a 2022 Term A Lender, and a 2022 Revolving Lender
	 	 
	 	 
	 	By: 	/s/ Michael King
	 	 	Name:	Michael King
	 	 	Title:	Vice President

 

     

     

    

 

	 	LENDERS:
	 	 
	 	 
	 	TRUIST BANK, as a 2022 Term A Lender and a 2022 Revolving Lender
	 	 
	 	By:	/s/ David Miller
	 	 	Name:	David Miller
	 	 	Title:	 Director

 

    

    

    

 

	 	LENDERS:
	 	 
	 	 
	 	PNC Bank, National Association, as a 2022 Term A Lender and a 2022 Revolving Lender
	 	 
	 	By:	/s/ Anthony Frasso
	 	 	Name:	Anthony Frasso
	 	 	Title:	Senior Vice President

 

    

    

    

 

	 	LENDERS:
	 	 
	 	 
	 	PNC Bank Canada Branch, as a 2022 Term A Lender and a 2022 Revolving Lender
	 	 
	 	By:	/s/ Martin Peichl
	 	 	Name:	Martin Peichl
	 	 	Title:	Senior Vice President

 

    

    

    

 

	 	LENDERS:
	 	 
	 	 
	 	MUFG Bank, Ltd., as a 2022 Term A Lender and a 2022 Revolving Lender:
	 	 
	 	By:	/s/ Deborah L. White
	 	 	Name:	Deborah L. White
	 	 	Title:	Director

 

    

    

    

 

	 	LENDERS:
	 	 
	 	 
	 	Wells Fargo Bank, N.A., as a 2022 Term A Lender, and a 2022 Revolving Lender
	 	 
	 	 
	 	By:	/s/ James Nealon
	 	 	Name:	James Nealon
	 	 	Title:	Vice President

 

     

     

    

 

	 	LENDERS:
	 	 
	 	 
	 	GOLDMAN SACHS BANK USA, as a 2022 Revolving Lender
	 	 
	 	 
	 	By:	/s/ Jonathan Dworkin
	 	 	Name:	 Jonathan Dworkin
	 	 	Title:	Authorized Signatory

 

     

     

    

 

	 	LENDERS:
	 	 
	 	TD BANK, N.A., as a 2022 Term A Lender, and a 2022 Revolving Lender
	 	 
	 	 
	 	By:	/s/ Steve Levi
	 	 	Name:	 Steve Levi
	 	 	Title:	Senior Vice President

 

     

     

    

 

	 	LENDERS:
	 	 
	 	 
	 	MIZUHO BANK, LTD., as a 2022 Term A Lender and a 2022 Revolving
Lender
	 	 
	 	 
	 	By:	/s/ Donna DeMagistris
	 	 	Name:	
Donna DeMagistris 
	 	 	Title:	Executive Director

 

     

     

    

 

	 	LENDERS:
	 	 
	 	 
	 	BNP PARIBAS, as a 2022 Term A Lender and a 2022 Revolving
    Lender
	 	 
	 	 
	 	By:	/s/ Rick Pace
	 	 	Name:	Rick Pace
	 	 	Title:	Managing Director
	 	 	 	 
	 	 	 	 
		By:	/s/ Michael Lefkowitz
	 	 	Name:	Michael Lefkowitz
	 	 	Title:	Director

 

    	 	 	 

     

    

  

	 	LENDERS:
	 	 
	 	 
	 	CAPITAL ONE, NATIONAL ASSOCIATION as a 2022 Term A Lender
    and a 2022 Revolving Lender
	 	 
	 	 
	 	By:	/s/ Elizabeth Masciopinto
	 	 	Name:	Elizabeth Masciopinto
	 	 	Title:	Duly Authorized Signatory

 

    	 	 	 

     

    

 

	 	LENDERS:
	 	 
	 	 
	 	SUMITOMO MITSUI BANKING CORPORATION, as a 2022 Term A Lender,
    and a 2022 Revolving Lender
	 	 
	 	 
	 	By:	/s/ Nabeel Shah
	 	 	Name:	Nabeel Shah
	 	 	Title:	Director

 

    	 	 	 

     

    

 

	 	LENDERS:
	 	 
	 	 
	 	People’s United Bank, National Association, as a 2022 Term
    A Lender and a 2022 Revolving Lender
	 	 
	 	 
	 	By:	/s/ Kathryn Williams
	 	 	Name:	Kathryn Williams
	 	 	Title:	SVP

 

    	 	 	 

     

    

 

 

	 	LENDERS:
	 	 
	 	 
	 	The
Huntington National Bank, as a 2022 Term A Lender and a 2022 Revolving Lender
	 	 
	 	 
	 	By:	/s/ Scott Pritchett
	 	 	Name:	Scott Pritchett
	 	 	Title:	Assistant Vice President

 

     

     

    

 

	 	LENDERS:
	 	 
	 	 
	 	Webster Bank, N.A., as a 2022 Term A Lender, and a 2022
Revolving Lender
	 	 
	 	 
	 	By:	/s/ Salpi Donoyan
	 	 	Name: 	Salpi Donoyan
	 	 	Title: 	Vice President

 

     

     

    

 

 

Schedule I

 

[Omitted]

 

    

     

    

 

Schedule II

 

[Omitted]

 

    

     

    

 

Annex I

 

    

     

    

 

EXECUTION VERSION 

 

 

 

IRON MOUNTAIN INCORPORATED

 

CREDIT AGREEMENT

 

Dated as of June 27, 2011,

as amended and restated as of July 2, 2015,

as further amended and restated as of August 21, 2017,

as further amended and restated as of March 18, 2022

 

JPMORGAN
CHASE BANK, N.A., BOFA SECURITIES INC., BARCLAYS BANK PLC, 

CITIZENS BANK N.A., CREDIT AGRICOLE CIB, MORGAN STANLEY SENIOR

 FUNDING, INC.,
TRUIST BANK, PNC BANK, N.A., MUFG BANK, LTD., WELLS 

FARGO BANK, N.A. AND GOLDMAN SACHS BANK USA,

as Joint Lead Arrangers, Joint Bookrunners and Co-Syndication Agents,

 

TD
BANK, N.A., MIZUHO BANK LTD. AND BNP PARIBAS,

as Co-Syndication Agents,

 

CAPITAL
ONE, N.A. AND SUMITOMO MITSUI BANKING CORPORATION,

as Co-Documentation Agents,

 

JPMORGAN
CHASE BANK, N.A.,

as Administrative Agent,

 

and

 

JPMORGAN
CHASE BANK, N.A., TORONTO BRANCH,

as Canadian Administrative Agent

 

 

 

     

     

    

 

TABLE OF CONTENTS

 

Page 

 

	Section 1. Definitions and Accounting Matters	1

 

		1.01.	Certain Defined Terms	1
		1.02.	Accounting Terms and Determinations	47
		1.03.	Types of Loans	48
		1.04.	Currency	48
		1.05.	Additional Alternate Currencies	48
		1.06.	Basket Compliance and Limited Conditionality Provisions	49
		1.07.	Sustainability Adjustments	52
		1.08.	Interest Rates; Benchmark Notification	53

 

	Section 2. Loans, Etc.	53

 

		2.01.	Revolving Loans; Term Loans; Incremental Loans	53
		2.02.	Reductions of Commitments	59
		2.03.	Fees	59
		2.04.	Lending Offices	59
		2.05.	Several Obligations: Remedies Independent	59
		2.06.	Notes	60
		2.07.	Use of Proceeds	60
		2.08.	Letters of Credit	60
		2.09.	[Reserved]	65
		2.10.	Defaulting Lenders	65
		2.11.	Term Loan Purchases	68
		2.12.	Extension Offers	69
		2.13.	Refinancing Facilities	71

 

	Section 3. Borrowings, Conversions and Prepayments	73

 

		3.01.	Procedure for Borrowing	73
		3.02.	Prepayments and Conversions	73

 

	Section 4. Payments of Principal and Interest	76

 

		4.01.	Repayment of Loans	76
		4.02.	Interest	76

 

	Section 5. Payments; Pro Rata Treatment; Computations; Etc.	78

 

		5.01.	Payments	78
		5.02.	Pro Rata Treatment	79
		5.03.	Computations	79
		5.04.	Minimum and Maximum Amounts; Types	79
		5.05.	Certain Notices	80
		5.06.	Non-Receipt of Funds by the Administrative Agent	81
		5.07.	Sharing of Payments; Waiver of Enforcement Without Consent, Etc.	82
		5.08.	Taxes	82
		5.09.	Judgment Currency	88

 

     

     

    

 

TABLE OF CONTENTS

(continued)

 

Page

  

	Section 6. Yield Protection and Illegality	88

 

		6.01.	Additional Costs	88
		6.02.	Alternate Rate of Interest	90
		6.03.	Illegality	93
		6.04.	Substitute ABR Loans	93
		6.05.	Compensation	93
		6.06.	Capital Adequacy	94
		6.07.	Mitigation Obligations; Substitution of Lender	95
		6.08.	Additional Costs in Respect of Letters of Credit	95

 

	Section 7. Conditions Precedent	96

 

		7.01.	[Reserved]	96
		7.02.	[Reserved]	96
		7.03.	Initial and Subsequent Loans	96

 

	Section 8. Representations and Warranties	96

 

		8.01.	Corporate Existence	96
		8.02.	Information	97
		8.03.	Litigation	97
		8.04.	No Breach	98
		8.05.	Corporate Action	98
		8.06.	Approvals	98
		8.07.	Regulations U and X	98
		8.08.	ERISA and the Canadian Pension Plans	98
		8.09.	Taxes	99
		8.10.	Subsidiaries, Etc.	99
		8.11.	Investment Company Act	99
		8.12.	Reserved	99
		8.13.	Ownership and Use of Properties	99
		8.14.	Environmental Compliance	100
		8.15.	Solvency	100
		8.16.	[Reserved]	100
		8.17.	Anti-Corruption Laws and Sanctions	100
		8.18.	Affected Financial Institutions	100

 

	Section 9. Covenants	101

 

		9.01.	Financial Statements and Other Information	101
		9.02.	Taxes and Claims	103
		9.03.	Insurance	103
		9.04.	Maintenance of Existence; Conduct of Business	103
		9.05.	Maintenance of and Access to Properties	104
		9.06.	Compliance with Applicable Laws	105
		9.07.	Litigation	105

 

    ii

     

    

  

TABLE OF CONTENTS

(continued)

 

Page

 

		9.08.	Indebtedness	105
		9.09.	Net Total Lease Adjusted Leverage Ratio	108
		9.10.	[Reserved]	108
		9.11.	Fixed Charges Coverage Ratio	108
		9.12.	Mergers, Asset Dispositions. Etc.	108
		9.13.	Liens	110
		9.14.	Investments	110
		9.15.	Restricted Payments	112
		9.16.	Transactions with Affiliates	113
		9.17.	Subordinated Indebtedness	113
		9.18.	Lines of Businesses	114
		9.19.	[Reserved]	114
		9.20.	Use of Proceeds	114
		9.21.	Certain Obligations Respecting Subsidiaries	115
		9.22.	Environmental Matters	116
		9.23.	[Reserved]	116
		9.24.	Further Assurances	116
		9.25.	Unrestricted Subsidiaries	117

 

	Section 10. Defaults	117

 

		10.01.	Events of Default	117
		10.02.	Ratable Treatment of Lenders	120

 

	Section 11. The Administrative Agent; Other Agents	121

 

		11.01.	Appointment Powers and Immunities	121
		11.02.	Administrative Agent’s Reliance, Limitation of Liability, Etc.	124
		11.03.	Indemnification	125
		11.04.	Non-Reliance on Administrative Agent and Other Lenders	126
		11.05.	Failure to Act	128
		11.06.	Resignation or Removal of Administrative Agent	128
		11.07.	Lead Arrangers, Joint Bookrunners, Co-Documentation Agents and Co-Syndication Agents	129
		11.08.	Collateral Sub-Agents	129
		11.09.	Additional Ministerial Powers of the Administrative Agent	129
		11.10.	Canadian Administrative Agent	130
		11.11.	Posting of Communications	130
		11.12.	Collateral Matters	131
		11.13.	Credit Bidding	132
		11.14.	Certain ERISA Matters	133
		11.15.	CAM	134

 

	Section 12. Miscellaneous	134

 

		12.01.	Waiver	134
		12.02.	Notices	135

 

    iii

     

    

 

TABLE OF CONTENTS

(continued)

 

Page

 

		12.03.	Expenses Etc.	135
		12.04.	Indemnification; Limitation of Liability	136
		12.05.	Amendments. Etc.	137
		12.06.	Successors and Assigns	139
		12.07.	Confidentiality	141
		12.08.	Survival	142
		12.09.	Captions	142
		12.10.	Counterparts; Integration	143
		12.11.	GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL	144
		12.12.	Borrowers’ Agent	145
		12.13.	[Reserved]	145
		12.14.	Acknowledgements	145
		12.15.	USA PATRIOT Act	145
		12.16.	Additional Borrowers	146
		12.17.	Releases of Guaranties and Liens	147
		12.18.	Amendment and Restatement	148
		12.19.	Right to Setoff	149
		12.20.	[Reserved]	149
		12.21.	Severability	149
		12.22.	Payments Set Aside	149
		12.23.	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	150
		12.24.	Acknowledgement Regarding Any Supported QFCs	150
		12.25.	Existing Term B Loans	151

 

    iv

     

    

 

TABLE OF CONTENTS

(continued)

 

Schedules

 

	SCHEDULE I	-	[Reserved]
	SCHEDULE II	-	Subsidiaries; Immaterial Subsidiaries; Investments in Joint Ventures and Other Persons
	SCHEDULE III	-	Credit Agreements, Indentures, Leases
	SCHEDULE IV	-	Existing Letters of Credit
	SCHEDULE V	-	Borrowers
	SCHEDULE VI	-	Unrestricted Subsidiaries

 

Exhibits

 

	EXHIBIT A-1	-	Form of Revolving Credit Note
	EXHIBIT A-2	-	Form of Term Note
	EXHIBIT B	-	Company Guaranty
	EXHIBIT C	-	Company Pledge Agreement
	EXHIBIT D	-	Parent Guaranty
	EXHIBIT E	-	Parent Pledge Agreement
	EXHIBIT F	-	Subsidiary Guaranty
	EXHIBIT G	-	Subsidiary Pledge Agreement
	EXHIBIT H	-	Canadian Borrower Pledge Agreement
	EXHIBIT I	-	[Reserved]
	EXHIBIT J	-	[Reserved]
	EXHIBIT K	-	[Reserved]
	EXHIBIT L	-	[Reserved]
	EXHIBIT M	-	[Reserved]
	EXHIBIT N	-	Form of Assignment and Assumption
	EXHIBIT O-1	-	Form of Borrowing Subsidiary Agreement
	EXHIBIT O-2	-	Form of Borrowing Subsidiary Termination
	EXHIBIT P	-	Form of U.S. Tax Compliance Certificate

 

    v

     

    

 

CREDIT AGREEMENT dated as
of June 27, 2011, as amended and restated as of July 2, 2015, and as further amended and restated as of August 21, 2017,
and as further amended and restated as of March 18, 2022 (as may be further amended, restated, amended and restated, supplemented
or otherwise modified, this “Agreement”), among: IRON MOUNTAIN INCORPORATED, a corporation duly organized and validly
existing under the laws of the State of Delaware (together with its successors permitted under this Agreement, the “Parent”);
IRON MOUNTAIN INFORMATION MANAGEMENT, LLC, a limited liability company duly organized and validly existing under the laws of the State
of Delaware (together with its successors permitted under this Agreement, the “Company”); the other Subsidiaries of
the Company party hereto from time to time as Borrowers; each of the banks, financial institutions and other entities party hereto from
time to time as Lenders and Issuing Banks; JPMORGAN CHASE BANK, N.A., BOFA SECURITIES INC., BARCLAYS BANK PLC, CITIZENS BANK N.A., CREDIT
AGRICOLE CIB, MORGAN STANLEY SENIOR FUNDING, INC., TRUIST BANK, PNC BANK, N.A., MUFG BANK, LTD., WELLS FARGO BANK, N.A. AND
GOLDMAN SACHS BANK USA, as Joint Lead Arrangers, Joint Bookrunners and Co-Syndication Agents, TD BANK, N.A., MIZUHO BANK LTD. AND BNP
PARIBAS, as Co-Syndication Agents, CAPITAL ONE, N.A. AND SUMITOMO MITSUI BANKING CORPORATION, as Co-Documentation Agents, JPMORGAN CHASE
BANK, N.A., TORONTO BRANCH, as Canadian Administrative Agent (in such capacity, together with its successors in such capacity, the “Canadian
Administrative Agent”), and JPMORGAN CHASE BANK, N.A. as agent for the Lenders (in such capacity, together with its successors
in such capacity and any of its designated branch offices or affiliates, the “Administrative Agent”).

 

RECITALS

 

WHEREAS, the Parent and the
Company are party to the Credit Agreement, dated as of June 27, 2011 (as amended and restated as of July 2, 2015, and as further
amended and restated as of August 21, 2017 and as further amended and in effect prior to the A&R Closing Date, the “Existing
Credit Agreement”), among the Parent, the Company, the Administrative Agent and certain other agents and parties party thereto.

 

WHEREAS, the Parent and the
Company wish to (i) refinance the existing revolving credit facility and the existing term loan A facility pursuant to Section 2.13
of the Existing Credit Agreement and (ii) amend and restate the Existing Credit Agreement on the terms set forth herein.

 

NOW, THEREFORE, in consideration
of the premises and the mutual covenants herein contained, the parties hereto agree to amend and restate the Existing Credit Agreement
as of the A&R Closing Date, and the Existing Credit Agreement is hereby amended and restated in its entirety as follows as of the
A&R Closing Date:

 

Section 1.
Definitions and Accounting Matters.

 

1.01.            Certain
Defined Terms. As used herein, the following terms shall have the following meanings (all terms defined in this Section 1.01
or in other provisions of this Agreement in the singular to have the same meanings when used in the plural and vice versa):

 

“2022 Revolving
Commitments” shall mean, as to each 2022 Revolving Lender, the obligation of such 2022 Revolving Lender to make 2022 Revolving
Loans, in an aggregate principal or stated amount at any one time outstanding up to but not exceeding the amount set forth opposite such
2022 Revolving Lender’s name on Schedule II to the Amendment and Restatement Agreement or, in the case of a Person that is party
to an assignment permitted under Section 12.06 hereof after the A&R Closing Date, as specified in the respective instrument
of assignment pursuant to which such assignment is effected (as the same may be reduced at any time or from time to time pursuant to
Section 3.02 hereof). The original aggregate amount of the 2022 Revolving Commitments is $2,250,000,000.

 

     

     

    

 

“2022 Revolving
Facility” shall mean the 2022 Revolving Commitments and the 2022 Revolving Loans.

 

“2022 Revolving
Lenders” shall mean each Lender that has a 2022 Revolving Commitment or holds a 2022 Revolving Loan.

 

“2022 Revolving
Loan Maturity Date” shall mean the date that is five years after the A&R Closing Date; provided if such date is
not a Business Day, the 2022 Revolving Loan Maturity Date shall mean the first Business Day preceding such date.

 

“2022 Revolving
Loans” shall have the meaning assigned to such term in Section 2.01(b).

 

“2022 Term A Commitment”
shall mean, as to each 2022 Term A Lender, the obligation of such 2022 Term A Lender to make 2022 Term A Loans on the A&R Closing
Date, in an aggregate principal or stated amount at any one time outstanding up to but not exceeding the amount set forth opposite such
2022 Term A Lender’s name on Schedule I to the Amendment and Restatement Agreement. The original aggregate principal amount of
the 2022 Term A Commitments is $250,000,000.

 

“2022 Term A Lenders”
shall mean each Lender that holds a 2022 Term A Commitment or a 2022 Term A Loan.

 

“2022 Term A Loan”
shall have the meaning assigned to such term in Section 2.01(a).

 

“2022 Term A Loan
Maturity Date” shall mean the date that is five years after the A&R Closing Date; provided if such date is not a
Business Day, the 2022 Term A Loan Maturity Date shall mean the first Business Day preceding such date.

 

“A&R Closing
Date” shall have the meaning set forth in the Amendment and Restatement Agreement.

 

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

 

“Accounts Receivable
Asset” means (a) any accounts receivable, revenue stream or other right of payment, real estate asset, or mortgage receivable
or any Related Security and (b) collections, contract rights, lockbox accounts and records with respect to such assets customarily
transferred therewith, in each case subject to an Accounts Receivable Financing.

 

    2

     

    

 

“Accounts Receivable
Financing” shall mean any accounts receivable sale arrangement, credit facility or conditional purchase contract or similar
arrangement providing financing secured directly or indirectly by Accounts Receivable Assets of the Parent or its Subsidiaries that meets
the following conditions: (a) the Parent shall have determined in good faith that the terms of such Accounts Receivable Financing
(including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable
to the Parent and its Subsidiaries; (b) all sales or contributions (as applicable) of Accounts Receivable Assets and related assets
by the Parent or any Subsidiary to any Accounts Receivable Subsidiary or any other Person are made for a price that is no less than fair
market value (as determined in good faith by the Parent); (c) the financing terms, covenants, termination events and other provisions
thereof shall be on market terms (as determined in good faith by the Parent) and may include Standard Securitization Undertakings; and
(d) the obligations under such Accounts Receivable Financing are non-recourse (except to the extent customary for similar transactions
in the applicable jurisdiction) to the Parent or any of its Subsidiaries (other than an Accounts Receivable Subsidiary).

 

“Accounts Receivable
Subsidiary” shall mean any Subsidiary formed for the purpose of facilitating or entering into one or more Accounts Receivable
Financings and that engages only in activities reasonably related or incidental thereto, or another Person formed for the purposes of
engaging in an Accounts Receivable Financing in which the Parent or any Subsidiary makes an Investment and to which the Parent or any
Subsidiary transfers Account Receivable Assets.

 

“Acquired Debt”
shall mean, with respect to the Parent or any Subsidiary, Indebtedness of any other Person, existing at the time such other Person
merged with or into or became a Subsidiary of the Parent or any Subsidiary thereof in connection with a Permitted Acquisition occurring
after the A&R Closing Date, provided that such Indebtedness was not created by such other Person in contemplation of such acquisition.

 

“Acquisition”
shall mean an acquisition of assets of, or a majority of the Capital Stock of, another business by the Parent and/or one or more of its
Subsidiaries.

 

“Acquisition Consideration”
shall mean, with respect to any Acquisition, the aggregate amount of consideration paid by the Parent and its Subsidiaries in connection
therewith, including, without limitation, (a) Stock Consideration and (b) other consideration on account of (i) any expenses
incurred in connection with such Acquisition, (ii) liabilities under agreements not to compete incurred in connection with such
Acquisition, (iii) the principal amount of Indebtedness assumed in connection with such Acquisition and (iv) Additional Expenditures
related to such Acquisition.

 

“Additional Borrowers”
shall mean any Subsidiary of the Parent that becomes a party hereto as a Borrower pursuant to Section 12.16.

 

“Additional Costs”
shall have the meaning provided in Section 6.01.

 

    3

     

    

 

“Additional Expenditures”
shall mean, with respect to any Acquisition, amounts expended or to be expended by the Parent and its Subsidiaries within twelve months
after the date of such Acquisition to acquire or construct facilities and equipment that are not part of the assets acquired pursuant
to such Acquisition but which are deemed by the Parent to be essential for the integration or restructuring of the assets so acquired.

 

“Adjusted Daily
Simple SOFR” shall means an interest rate per annum equal to (a) the Daily Simple SOFR, plus (b) 0.10%; provided
that if the Adjusted Daily Simple SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the
Floor for the purposes of this Agreement.

 

“Adjusted Term SOFR
Rate” shall mean, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest
Period, plus (b) 0.10%; provided that if the Adjusted Term SOFR Rate as so determined would be less than the Floor,
such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.

 

“Adjusted Financial
Covenant Period” shall have the meaning provided in Section 9.09.

 

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

 

“Affected Financial
Institution” shall mean (a) any EEA Financial Institution or (b) any UK Financial Institution.

 

“Affiliate”
shall mean, as to any Person, any other Person directly or indirectly controlling, controlled by, or under direct or indirect common
control with, such Person. A Person shall be deemed to be “controlled by” any other Person if such other Person possesses,
directly or indirectly, power to direct or cause the direction of the management and policies of such Person whether by contract or otherwise.

 

“Agreed Currencies”
shall mean Dollars and each Alternate Currency.

 

“Alternate Base
Rate” shall mean, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the
NYFRB Rate in effect on such day plus 1⁄2 of 1% and (c) the Adjusted Term SOFR Rate for a one month Interest Period as published
two U.S. Government Securities Business Days prior to such day (or if such day is not a Business Day, the immediately preceding Business
Day) plus 1%; provided that for the purpose of this definition, the Adjusted Term SOFR Rate for any day shall be based on the
Term SOFR Reference Rate at approximately 5:00 a.m. Chicago time on such day (or any amended publication time for the Term SOFR
Reference Rate, as specified by the CME Term SOFR Administrator in the Term SOFR Reference Rate methodology). Any change in the Alternate
Base Rate due to a change in the Prime Rate, the NYFRB Rate or the Adjusted Term SOFR Rate shall be effective from and including the
effective date of such change in the Prime Rate, the NYFRB Rate or the Adjusted Term SOFR Rate, respectively. If the Alternate Base Rate
is being used as an alternate rate of interest pursuant to Section 6.02 (for the avoidance of doubt, only until the Benchmark Replacement
has been determined pursuant to Section 6.02(b)), then the Alternate Base Rate shall be the greater of clauses (a) and (b) above
and shall be determined without reference to clause (c) above. For the avoidance of doubt, if the Alternate Base Rate as determined
pursuant to the foregoing would be less than 0.00%, such rate shall be deemed to be 0.00% for purposes of this Agreement.

 

    4

     

    

 

“Alternate Currency”
shall mean Canadian Dollars and each other currency that is approved in accordance with Section 1.05.

 

“Amendment and Restatement
Agreement” shall mean the Amendment and Restatement Agreement dated as of March 18, 2022 to the Credit Agreement dated
as of June 27, 2011 (as amended, amended and restated, supplemented or otherwise modified prior to the A&R Closing Date), among
the Parent, the Company, the Subsidiaries of the Company party thereto as Borrowers, the Lenders and the Issuing Banks party thereto,
JPMorgan Chase Bank, N.A., as Administrative Agent, and JPMorgan Chase Bank, N.A., Toronto Branch, as Canadian Administrative Agent.

 

“Anti-Corruption
Laws” shall mean, with respect to any Person, all laws, rules and regulations of any jurisdiction applicable to such Person
or its Affiliates from time to time concerning or relating to bribery or corruption.

 

“Applicable Commitment
Fee Rate” shall mean at any time, the percentage per annum set forth in the schedule below opposite the Applicable Leverage
Ratio in effect at such time:

 

	Applicable Leverage Ratio	 	Applicable Commitment Fee Rate	 
	Level 3 
Greater than or equal to 4.75 to 1.00	 	 	0.300	%
	Level 2 
Less than 4.75 to 1.00 and greater than or equal to 3.75 to 1.00	 	 	0.250	%
	Level 1 
Less than 3.75 to 1.00	 	 	0.200	%

 

“Applicable L/C
Percentage” shall mean, at any time, the Applicable Margin in effect at such time with respect to Term Benchmark Loans that
are Revolving Loans (irrespective of whether at the time any Term Benchmark Loan is outstanding).

 

“Applicable Lending
Office” shall mean, for each Lender and for each Type of Loan, the lending office of such Lender (or of an affiliate of such
Lender) designated for such Type of Loan in the Administrative Questionnaire of such Lender or such other lending office of such Lender
(or of an affiliate of such Lender) as such Lender may from time to time specify to the Administrative Agent and the Company as the office
by which its Loans of such Type are to be made and maintained.

 

“Applicable Leverage
Ratio” shall mean, at any time, the Consolidated Leverage Ratio as at the end of the most recent fiscal quarter of the Parent
in respect of which financial statements have been (or were required to be) delivered by the Parent pursuant to either Section 9.01(1) or
9.01(2) hereof; provided, that to the extent that the required financial statements described in Section 9.01(1) or
9.01(2), as applicable, and the accompanying certificate described in the fourth to last paragraph of Section 9.01 have not been
delivered within the time periods set forth therein, commencing on (and including) the date that is three Business Days after the date
such financial statements were required to be delivered pursuant to Section 9.01(1) or 9.01(2), as applicable, until the date
that is three Business Days after the date such financial statements and such certificate are delivered, the Applicable Leverage Ratio
shall be deemed to be greater than 4.75 to 1.00; provided, further, that no change in the Applicable Leverage Ratio will
take effect until the date that is three Business Days following receipt by the Administrative Agent of the applicable financial statements
and accompanying certificate. Notwithstanding the foregoing, from the A&R Closing Date until (but not including) the date that is
three Business Days after the first financial statements are required to be delivered pursuant to Section 9.01(1) or 9.01(2),
as applicable, solely for the purposes of determining the Applicable Commitment Fee Rate and the Applicable Margin for the 2022 Revolving
Loans and the 2022 Term A Loans, the Applicable Leverage Ratio shall be deemed to be 4.75 to 1.00 (i.e., Level 3).

 

    5

     

    

 

“Applicable Margin”
shall mean:

 

(i)            with
respect to the 2022 Revolving Loans and the 2022 Term A Loans, the rate for the applicable Type of Loan set forth below opposite the
Applicable Leverage Ratio in effect at such time:

 

		 	Applicable Margin	 
	Applicable Leverage Ratio	 	ABR &

    C$ Prime Loans	 	 	Term
    Benchmark and
 CDOR Loans	 
	Level 3 
Greater than or equal to 4.75 to 1.00	 	 	0.75	%	 	 	1.75	%
	Level 2 
Less than 4.75 to 1.00 and greater than or equal to 3.75 to 1.00	 	 	0.50	%	 	 	1.50	%
	Level 1 
Less than 3.75 to 1.00	 	 	0.25	%	 	 	1.25	%

 

(ii)            with
respect to the Existing Term B Loans, (x) 0.75% per annum for ABR Loans and (y) 1.75% for Term Benchmark Loans; and

 

(iii)            for
Incremental Loans, such rates per annum as shall be agreed to by the Company and the applicable Lenders as shown in the applicable Incremental
Facility Amendment.

 

“Applicable Percentage”
shall mean (a) with respect to any Term Lender of any Class, a percentage equal to a fraction the numerator of which is the aggregate
outstanding principal amount of the Term Loans and unused Commitments of such Term Lender under such Class and the denominator of
which is the aggregate outstanding principal amount of the Term Loans and unused Commitments of all Term Lenders under such Class and
(b) with respect to any Revolving Lender of any Class, the percentage of the aggregate amount of the Revolving Commitments of such
Class represented by such Lender’s Revolving Commitment of such Class; provided that when there is a Defaulting Lender,
such Defaulting Lender’s Revolving Commitments shall be disregarded for any relevant calculation; provided, further,
in the case of clause (b), in the event that the Revolving Commitments of any Class have expired or been terminated, the Applicable
Percentage of any Revolving Lender of such Class shall be determined on the basis of the aggregate amount of Revolving Loans and
Letter of Credit Liabilities of such Revolving Lender with respect to such Class, after giving effect to any assignments thereof and
to any Revolving Lender’s status as a Defaulting Lender at the time of determination.

 

    6

     

    

 

“Arrangers”
shall mean JPMorgan Chase Bank, N.A., BofA Securities Inc., Barclays Bank PLC, Citizens Bank N.A., Credit Agricole CIB, Morgan Stanley
Senior Funding, Inc., Truist Bank, PNC Bank, N.A., MUFG Bank, Ltd., Wells Fargo Bank, N.A. and Goldman Sachs Bank USA.

 

“Asset
Sale Prepayment Percentage” shall mean, as of any date of determination, (a) if the First Lien Net Secured Leverage Ratio
is greater than 1.15 to 1.00, 100%, (b) if the First Lien Net Secured Leverage Ratio is less than or equal to 1.15 to 1.00 and greater
than 0.90 to 1.00, 50% and (c) if the First Lien Net Secured Leverage Ratio is less than or equal to 0.90 to 1.00, 0%; it
being understood and agreed that, for purposes of determining the Asset Sale Prepayment Percentage, the First Lien Net Secured Leverage
Ratio shall be determined on the date on which such proceeds are received by the Parent or applicable Subsidiary (giving pro forma effect
to the subject asset sales and/or Recovery Events).

 

“Australian Credit
Agreement” shall mean the Amended and Restated Syndicated Facility Agreement originally dated as of September 28, 2016,
among Ausdoc Group Pty Limited, Iron Mountain Australia Group Pty Ltd, the several banks and other financial institutions or entities
from time to time parties thereto as lenders and Barclays Bank PLC, as administrative agent, and Barclays Bank PLC, as security trustee,
as amended, restated, supplemented or otherwise modified from time to time.

 

“Available Tenor”
shall mean, as of any date of determination and with respect to the then-current Benchmark for any Agreed Currency, as applicable, any
tenor for such Benchmark (or component thereof) or payment period for interest calculated with reference to such Benchmark (or component
thereof), as applicable, that is or may be used for determining the length of an Interest Period for any term rate or otherwise, for
determining any frequency of making payments of interest calculated pursuant to this Agreement as of such date and not including, for
the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant
to clause (e) of Section 6.02.

 

“Bail-In Action”
shall mean the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of
an Affected Financial Institution.

 

“Bail-In Legislation”
shall mean (a) 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, regulation, rule or requirement for such EEA Member Country from
time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of
the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United
Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates
(other than through liquidation, administration or other insolvency proceedings).

 

    7

     

    

 

“Bankruptcy Code”
shall mean the United States Bankruptcy Code, as now or hereafter in effect, or any successor statute.

 

“Bankruptcy Event”
shall mean, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver,
conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization
or liquidation of its business appointed for it, or has indicated its consent to, approval of, or acquiescence in, any such proceeding
or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition
of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, so long as such ownership interest
does not result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement
of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject,
repudiate, disavow or disaffirm any contracts or agreements made by such Person.

 

“Basic Documents”
shall mean this Agreement and each amendment hereto, the Notes, the Letter of Credit Documents, the Parent Guaranty, the Company Guaranty,
the Subsidiary Guaranty, the Security Documents, any Refinancing Facility Agreement entered into pursuant to the terms hereof, any Incremental
Facility Amendment entered into pursuant to the terms hereof and any other agreement or document designated as such by the Company and
the Administrative Agent.

 

“Benchmark”
shall mean, initially, with respect to any (i) RFR Loan, the Daily Simple SOFR, (ii) with respect to any Term Benchmark Loan,
the Term SOFR Rate or (iii) any CDOR Loan, the CDOR Rate; provided that if a Benchmark Transition Event, and the related
Benchmark Replacement Date have occurred with respect to the Relevant Rate, or the then-current Benchmark for such Agreed Currency, then
 “Benchmark” shall mean the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such
prior benchmark rate pursuant to clause (b) of Section 6.02.

 

“Benchmark
Replacement” shall mean, for any Available Tenor, the sum of: (a) the alternate benchmark rate that has been selected
by the Administrative Agent and the Borrower as the replacement for the then-current Benchmark for the applicable Corresponding Tenor
giving due consideration to (i) any selection or recommendation of a replacement benchmark 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 benchmark
rate as a replacement for the then-current Benchmark for syndicated credit facilities denominated in the applicable Agreed Currency at
such time in the United States and (b) the related Benchmark Replacement Adjustment. If the Benchmark Replacement as determined
pursuant to the above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this
Agreement and the other Basic Documents.

 

“Benchmark Replacement
Adjustment” shall mean, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement
for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement, 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 the Administrative Agent and the Parent for the applicable Corresponding Tenor 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 such
Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement
Date and/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 such Benchmark with the applicable Unadjusted Benchmark Replacement for
syndicated credit facilities denominated in the applicable Agreed Currency at such time.

 

    8

     

    

 

“Benchmark Replacement
Conforming Changes” shall mean, with respect to any Benchmark Replacement and/or any Term Benchmark Loan, any technical, administrative
or operational changes (including changes to the definition of “Alternate Base Rate,” the definition of “Business Day,”
the definition of “U.S. Government Securities Business Day,” the definition of “Interest Period,” timing and
frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation
notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters)
that the Administrative Agent (in consultation with the Parent) decides may be appropriate to reflect the adoption and implementation
of such Benchmark and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market
practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible
or if the Administrative Agent determines that no market practice for the administration of such Benchmark exists, in such other manner
of administration as the Administrative Agent (in consultation with the Parent) decides is reasonably necessary in connection with the
administration of this Agreement and the other Basic Documents).

 

“Benchmark Replacement
Date” shall mean, with respect to any Benchmark, the earliest to occur of the following events with respect to such then-current
Benchmark:

 

(1)            in
the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (a) the date
of the public statement or publication of information referenced therein and (b) the date on which the administrator of such Benchmark
(or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such
Benchmark (or such component thereof); or

 

(2)            in
the case of clause (3) of the definition of “Benchmark Transition Event,” the first date on which such Benchmark (or
the published component used in the calculation thereof) has been determined and announced by the regulatory supervisor for the administrator
of such Benchmark (or such component thereof) to be no longer representative; provided, that such non-representativeness will
be determined by reference to the most recent statement or publication referenced in such clause (c) and even if any Available Tenor
of such Benchmark (or such component thereof) continues to be provided on such date.

 

For the avoidance of doubt,
(i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in
respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination
and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (1) or (2) with
respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available
Tenors of such Benchmark (or the published component used in the calculation thereof).

 

    9

     

    

 

“Benchmark Transition
Event” shall mean, with respect to any Benchmark, the occurrence of one or more of the following events with respect to such
then-current Benchmark:

 

(1) a public statement
or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation
thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component
thereof), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator
that will continue to provide any Available Tenor of such Benchmark (or such component thereof);

 

(2) a public statement
or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in
the calculation thereof), the Federal Reserve Board, the NYFRB, the CME Term SOFR Administrator, the central bank for the Agreed Currency
applicable to such Benchmark, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component),
a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar
insolvency or resolution authority over the administrator for such Benchmark (or such component), in each case, which states that the
administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such
component thereof) permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor
administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or

 

(3) a public statement
or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in
the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer, or as of a
specified future date will no longer be, representative.

 

For the avoidance of doubt,
a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement or publication
of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component
used in the calculation thereof).

 

“Benchmark Unavailability
Period” shall mean, with respect to any Benchmark, the period (if any) (x) beginning at the time that a Benchmark Replacement
Date pursuant to clauses (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced
such then-current Benchmark for all purposes hereunder and under any Basic Document in accordance with Section 6.02 and (y) ending
at the time that a Benchmark Replacement has replaced such then-current Benchmark for all purposes hereunder and under any Basic Document
in accordance with Section 6.02.

 

“Beneficial Ownership
Certification” shall mean a certification regarding beneficial ownership or control as required by the Beneficial Ownership
Regulation.

 

    10

     

    

 

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

 

“Borrower DTTP Filing”
shall mean an HM Revenue & Customs’ Form DTTP2, duly completed and filed by the relevant Borrower within the applicable
time limit, which contains the scheme reference number and jurisdiction of tax residence provided by the Lender to the Borrowers and
the Administrative Agent.

 

“Borrowers”
shall mean each of the Parent, the Company, each entity listed on Schedule V hereto and each Additional Borrower.

 

“Borrowing Date”
shall mean any Business Day specified by the Company as a date on which the Company requests the relevant Lenders to make Loans hereunder.

 

“Business Day”
shall mean any day (other than a Saturday or a Sunday) on which banks are open for business in New York City or Chicago; provided,
that (a) when used in connection with a Loan denominated in Canadian Dollars shall also exclude any day on which banks are not open
for dealings in Toronto and (b) in relation to Term SOFR Loans and RFR Loans and any interest rate settings, fundings, disbursements,
settlements or payments of any such RFR Loan, or any other dealings of such Term SOFR Loan or RFR Loan, any such day that is only an
U.S. Government Securities Business Day.

 

“Calculation Date”
shall mean (a) with respect to any Revolving Loan denominated in an Alternate Currency, each of the following: (i) the Borrowing
Date of such Revolving Loan, (ii) each date of any conversion or continuation of such Revolving Loan, (iii) the last day of
each fiscal quarter and (iv) the date of any voluntary reduction of a Revolving Commitment; and (b) with respect to any Letter
of Credit denominated in any Alternate Currency, each of the following: (i) each date of issuance of such Letter of Credit, (ii) each
date of an amendment of such Letter of Credit that would have the effect of increasing the face amount thereof and (iii) the last
day of each fiscal quarter; and (c) any additional date as the Administrative Agent shall determine or the Majority Revolving Lenders
shall require, in each case under this clause (c), at any time when an Event of Default has occurred and is continuing.

 

“CAM Agreement”
shall mean the Amended and Restated Collateral Allocation Agreement, dated as of March 15, 2022, among JPMorgan Chase Bank, N.A.,
as Administrative Agent on behalf of the Lenders, and Barclays Bank PLC, as Australian agent, global payment agent and Australian security
trustee.

 

“CAM Percentage”
shall have the meaning assigned to such term in the CAM Agreement.

 

“Canadian Borrowers”
shall mean Iron Mountain Canada Operations ULC, a British Columbia unlimited company, Iron Mountain Information Management Services
Canada, Inc., a British Columbia corporation, and Iron Mountain Secure Shredding Canada, Inc., a British Columbia corporation,
and any other Additional Borrower that is organized under the laws of Canada (or any province or territory thereof).

 

“Canadian Borrower
Pledge Agreement” shall mean the pledge agreement, dated as of the Effective Date, to which the Canadian Borrowers and the
Administrative Agent are parties, as the same shall be modified and supplemented and in effect from time to time, in substantially the
form of Exhibit H.

 

    11

     

    

 

“Canadian Dollars”
shall mean the lawful currency of Canada.

 

“Canadian Pension
Plan” shall mean any plan, program, arrangement or understanding that is a pension plan for the purposes of any applicable
pension benefits or tax laws of Canada (whether or not registered under any such laws) which is maintained or contributed to by (or to
which there is or may be an obligation to contribute of), the Parent, the Company or any other Subsidiary of the Parent in respect of
any person’s employment in Canada or a province or territory thereof with the Parent, the Company or any other Subsidiary of the
Parent and all related agreements, arrangements and understandings in respect of, or related to, any benefits to be provided thereunder
or the effect thereof on any other compensation or remuneration of any employee.

 

“Canadian PPSA”
shall mean the Personal Property Security Act (Ontario) or any other applicable personal property security act or laws of any applicable
province or territory of Canada.

 

“Canadian Security
Documents” shall mean the Canadian Borrower Pledge Agreement and all other security documents hereafter delivered to the Administrative
Agent granting a Lien on the stock of the Canadian Borrowers or any other Canadian Subsidiary to secure the obligations and liabilities
of the Canadian Borrowers hereunder and under any of the other Basic Documents.

 

“Capital Expenditures”
shall mean capital expenditures by the Parent or any of its Subsidiaries during the relevant period determined in accordance with GAAP.

 

“Capital Lease Obligations”
shall mean, as to any Person, the obligations of such Person to pay rent or other amounts under a lease of (or other agreement conveying
the right to use) real and/or personal property, which obligations are required to be classified and accounted for as a capital lease
on a balance sheet of such Person under GAAP (including Statement of Financial Accounting Standards No. 13 of the Financial Accounting
Standards Board) and, for purposes of this Agreement, the amount of such obligations shall be the capitalized amount thereof at such
time, determined in accordance with GAAP (including such Statement No. 13).

 

“Capital Stock”
shall mean, with respect to any Person, any and all shares, interests, participations or other equivalents (however designated, whether
voting or non-voting) of such Person’s capital stock or other ownership interests, including, without limitation, all common stock,
all preferred stock, all partnership interests and all limited liability company interests.

 

“Captive Insurance
Subsidiary” shall mean any Subsidiary of the Parent that is subject to regulation as an insurance company (or any Subsidiary
thereof).

 

“Cash Management
Agreement” shall mean any agreement to provide cash management services, including treasury, depository, cash pooling, netting
or composite accounting, overdraft, credit or debit procurement card, electronic funds transfer and other cash management arrangements.

 

    12

     

    

 

“Casualty Event”
shall mean, with respect to any property of any Person, any loss of or damage to, or any condemnation or other taking of, such property
for which such Person or any of its Subsidiaries receives insurance proceeds, or proceeds of a condemnation award or other compensation.

 

“Change of Control”
shall mean that:

 

(1)            any
 “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) is or
becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly,
of more than 50% of the voting power of all classes of Voting Stock of the Parent,

 

(2)            in
any consecutive 25-month period, individuals who at the beginning of such period constituted the Board of Directors of the Parent (together
with any new directors whose election to such Board of Directors, or whose nomination for election by the stockholders of the Parent
was approved by a vote of at least 66-2/3% of the directors still in office who were either directors at the beginning of such period
or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of
Directors then in office;

 

(3)            [reserved];
or

 

(4)            the
Company shall cease to be wholly-owned by the Parent or any other Borrower shall cease to be wholly-owned, directly or through other
Subsidiaries of the Parent, by the Parent.

 

“Class”
when used in reference to (a) any Loan, refers to whether such Loan is a 2022 Revolving Loan, a 2022 Term A Loan, an Existing Term
B Loan, an Incremental Loan and/or Loans established pursuant to Section 2.12 and/or 2.13 and (b) any Commitment, refers to
whether such Commitment is a 2022 Revolving Commitment, a 2022 Term A Commitment, a Commitment to provide an Incremental Loan and/or
a Commitment established pursuant to Section 2.12 and/or 2.13.

 

“CME Term SOFR Administrator”
shall mean CME Group Benchmark Administration Limited as administrator of the forward-looking term Secured Overnight Financing Rate (SOFR)
(or a successor administrator).

 

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

 

“Collateral”
shall have the meaning assigned to such term in the Security Documents.

 

“Collateral Account”
shall mean a cash collateral account in the name and under the control of the Administrative Agent maintained in accordance with the
terms of the Security Documents.

 

“Commitment Termination
Date” shall mean with respect to the 2022 Revolving Commitments, the 2022 Revolving Loan Maturity Date.

 

    13

     

    

 

“Commitments”
shall mean the Revolving Commitments, the 2022 Term A Commitments and, as applicable, the Commitments for any Incremental Loans and/or
any Commitments established pursuant to Section 2.12 and/or 2.13, in each case, as in effect from time to time.

 

“Company”
shall have the meaning set forth in the preamble.

 

“Company Guaranty”
shall mean the amended and restated guaranty, dated as of A&R Closing Date, as said agreement shall be modified and supplemented
and in effect from time to time, pursuant to which the Company guarantees the obligations of the Parent and the other Borrowers under
the Basic Documents, in substantially the form of Exhibit D.

 

“Company Pledge
Agreement” shall mean the amended and restated pledge agreement, dated as of the A&R Closing Date, to which the Company
and the Administrative Agent are parties, as the same shall be modified and supplemented and in effect from time to time, in substantially
the form of Exhibit E.

 

“Consolidated Leverage
Ratio” shall mean the ratio, calculated as at the end of each fiscal quarter of the Parent for the period of four fiscal quarters
then ended, of (a) the excess of (i) the aggregate outstanding principal amount of Funded Indebtedness (on a consolidated basis)
of the Parent and its Subsidiaries at such date over (ii) the aggregate amount of cash and Liquid Investments of the Parent and
Subsidiaries at such date to (b) EBITDA for such period.

 

“Controlled Group”
shall mean all members of a controlled group of corporations and all trades or businesses (whether or not incorporated) under common
control which, together with the Parent, are treated as a single employer under Section 414 of the Code.

 

“Corresponding Tenor”
with respect to any Available Tenor, shall mean, as applicable, either a tenor (including overnight) or an interest payment period having
approximately the same length (disregarding business day adjustment) as such Available Tenor.

 

“Credit Party”
shall mean the Administrative Agent, the Canadian Administrative Agent, any Issuing Bank or any other Lender.

 

“CRD IV”
means (a) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements
for credit institutions and investment firms, and (b) Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013
on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms.

 

“Currency Agreement”
shall mean any foreign exchange contract, currency swap agreement or other similar agreement or arrangements (including derivative agreements
or arrangements) between the Parent or any Subsidiary and any financial institution.

 

“C$ Prime Loans”
shall mean a Loan denominated in Canadian Dollars that bears interest at a rate based upon the C$ Prime Rate.

 

    14

     

    

 

“C$ Prime Rate”
shall mean, on any day, the rate determined by the Administrative Agent to be the higher of (i) the rate equal to the PRIMCAN Index
rate that appears on the Bloomberg screen at 10:15 a.m. Toronto time on such day (or, in the event that the PRIMCAN Index is not
published by Bloomberg, any other information services that publishes such index from time to time, as selected by the Administrative
Agent in its reasonable discretion) and (ii) the average rate for thirty (30) day Canadian Dollar bankers’ acceptances that
appears on the Reuters Screen CDOR Page (or, in the event such rate does not appear on such page or screen, on any successor
or substitute page or screen that displays such rate, or on the appropriate page of such other information service that publishes
such rate from time to time, as selected by the Administrative Agent in its reasonable discretion) at 10:15 a.m. Toronto time on
such day, plus 1% per annum; provided, that if any the above rates shall be less than 0.00%, such rate shall be deemed to be 0.00% for
purposes of this Agreement. Any change in the Canadian Prime Rate due to a change in the PRIMCAN Index or the CDOR shall be effective
from and including the effective date of such change in the PRIMCAN Index or CDOR, respectively.

 

“CDOR Loans”
shall mean a Loan denominated in Canadian Dollars that bears interest at a rate based upon the CDOR Rate.

 

“CDOR Rate”
shall mean on any day for the relevant Interest Period, the annual rate of interest equal to the average rate applicable to Canadian
dollar Canadian bankers’ acceptances for the applicable period that appears on the “Reuters Screen CDOR Page” as defined
in the International Swap Dealer Association, Inc. definitions, as modified and amended from time to time (or, in the event such
rate does not appear on such page or screen, on any successor or substitute page or screen that displays such rate, or on the
appropriate page of such other information service that publishes such rate from time to time, as selected by the Administrative
Agent in its reasonable discretion), rounded to the nearest 1/100th of 1% (with .005% being rounded up), as of 10:15 a.m. Toronto
local time on the first day of such Interest Period and, if such day is not a Business Day, then on the immediately preceding Business
Day (as adjusted by Administrative Agent after 10:15 a.m. Toronto local time to reflect any error in the posted rate of interest
or in the posted average annual rate of interest). If the CDOR Rate shall be less than 0.00%, the CDOR Rate shall be deemed to be 0.00%
for purposes of this Agreement.

 

“Daily Simple SOFR”
shall mean, for any day (a “SOFR Rate Day”), a rate per annum equal SOFR for the day (such day “SOFR Determination
Date”) that is five (5) U.S. Government Securities Business Day prior to (i) if such SOFR Rate Day is a U.S. Government
Securities Business Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a U.S. Government Securities Business Day, the
U.S. Government Securities Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR
Administrator on the SOFR Administrator’s Website. Any change in Daily Simple SOFR due to a change in SOFR shall be effective from
and including the effective date of such change in SOFR without notice to any Borrower.

 

“DCC”
means Dutch Civil Code.

 

“Debtor Relief Laws”
shall mean the Bankruptcy Code and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium,
rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions
from time to time in effect.

 

    15

     

    

 

“Default”
shall mean an Event of Default or an event which with notice or lapse of time or both would, unless cured or waived, become an Event
of Default.

 

“Defaulting Lender”
shall mean any Lender that (a) has failed, within two Business Days of the date required to be funded or paid, to (i) fund
any portion of its Loans, (ii) fund any portion of its participations in Letters of Credit or (iii) pay over to any Credit
Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Lender notifies the Administrative
Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding
(specifically identified and including the particular default, if any) has not been satisfied, (b) has notified any Borrower or
any Credit Party in writing, or has made a public statement to the effect, that it does not intend or expect to comply with any of its
funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s
good faith determination that a condition precedent (specifically identified and including the particular default, if any) to funding
a loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has
failed, within three Business Days after request by a Borrower or a Credit Party, acting in good faith, to provide a certification in
writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able to meet such obligations)
to fund prospective Loans and participations in then outstanding Letters of Credit under this Agreement; provided that such Lender
shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Borrower’s or such Credit Party’s receipt
of such certification in form and substance satisfactory to it and the Administrative Agent, or (d) has become the subject of a
Bankruptcy Event or a Bail-In Action.

 

“Designation Removal”
shall have the meaning assigned to such term in Section 9.25.

 

“Disregarded U.S.
Subsidiary” shall mean any Domestic Subsidiary that has no material assets other than the Capital Stock and/or Indebtedness
of one or more Foreign Subsidiaries and/or other Disregarded U.S. Subsidiaries.

 

“Dividend Payments”
shall have the meaning assigned to such term in Section 9.15.

 

“Dollar Equivalent”
shall mean, on any date of determination, with respect to any amount in any Alternate Currency, the equivalent in Dollars of such amount,
determined by the Administrative Agent or the Canadian Administrative Agent (or, with respect to Letter of Credit Liabilities, the applicable
Issuing Bank) using the Exchange Rate with respect to such Alternate Currency then in effect.

 

“Dollars”,
 “US$” and “$” shall mean lawful money of the United States of America.

 

“Domestic Subsidiary”
shall mean any Subsidiary of the Parent organized under the laws of the United States of America, a State thereof or the District of
Columbia.

 

“Dutch Borrower”
means (i) Iron Mountain International Holdings B.V., a besloten vennootschap met beperkte aansprakelijkheid incorporated under Dutch
law having its corporate seat (statutaire zetel) in Amsterdam, the Netherlands and (ii) any other Borrower organized in the Netherlands.

 

    16

     

    

 

“EBITDA”
shall mean, for any period, the total of the following (without duplication), determined on a consolidated basis for the Parent and its
Subsidiaries:

 

(a)            net
income for such period,

 

(b)            plus
depreciation and amortization expense deducted in determining net income for such period,

 

(c)            to
the extent not disregarded in determining net income for such period, plus other non-cash expenses (including minority interest expense)
for such period and minus other income (including interest income) (including gains attributable to minority interest in its Subsidiaries),
for such period,

 

(d)            plus
Interest Expense, plus any amortization of deferred financing charges, deducted in determining net income for such period,

 

(e)            plus
any provision for, and minus any benefit from, income taxes each as deducted or added in determining net income for such period,

 

(f)            excluding
any extraordinary, exceptional, unusual, infrequently occurring or nonrecurring gain, loss, charge or expense; restructuring costs, charges,
accruals or reserves (including without limitation losses arising from any natural disasters, debt extinguishment expenses, foreign currency
transaction losses and losses on investments; and whether or not classified as such under GAAP); costs and expenses incurred in connection
with any strategic initiative or other Specified Transaction, and any other business optimization expenses (including, without limitation,
incentive costs and expenses relating to any Specified Transaction or other business optimization program; any integration costs; and
any charge, expense, cost, accrual or reserve of any kind associated with acquisition-related litigation and settlements thereof); start-up
or initial costs for any project or new division or new line of business; costs associated with the closure or exiting of any division
or line of business; severance costs and expenses, onetime compensation charges, signing, retention and completion bonuses and recruiting
costs; costs relating to facility or property disruptions, casualties, natural disasters or shutdowns; costs relating to the integration,
consolidation, pre-opening, opening, closing and conversion of facilities; costs and expenses incurred in connection with non-ordinary
course product and intellectual property development; costs associated with new systems design or improvements to IT or accounting functions
to protect against cyberattacks; charge, expense, cost, accrual or reserve associated with any cyberattack (including any related litigation
and settlements thereof); curtailments or modifications to pension and post-retirement employee benefit plans (including any settlement
of pension liabilities); and professional, legal, accounting, consulting and other service fees incurred in connection with any of the
foregoing,

 

(g)            plus
losses, and minus gains, on sales of fixed assets (including real estate) not in the ordinary course of business or on sales of discontinued
operations, each as deducted, or added, in determining net income for such period, after giving effect to any related charges for, reductions
of or provisions for taxes thereon,

 

    17

     

    

 

(h)            plus
losses, and minus gains, from discontinued operations, each as deducted, or added, in determining net income for such period (it being
understood that once an operation becomes a discontinued operation it will remain so for all purposes hereunder),

 

(i)            [reserved],

 

(j)            plus
(x) the aggregate amount of “run-rate” net income for such period projected by the Parent in good faith attributable
to any customer installation and backlog occurring or existing during such period (or following such period but prior to the date of
determination) (which amount shall be calculated on a pro forma basis as though the full amount of such net income attributable to such
installation and backlog had been realized from the commencement of such period) plus (y) the amount of cost savings, operating
expense reductions, other operating improvements and synergies projected by the Parent in good faith to be realized as a result of specified
actions taken or with respect to which steps have been initiated, or which are reasonably expected to be initiated, within 24 months
of the closing or effective date of the Specified Transaction (in the good faith determination of the Parent) (calculated on a pro forma
basis as though such cost savings, operating expense reductions, other operating improvements and synergies had been realized during
the entirety of the applicable period), net of the amount of actual benefits realized during such period from such actions; provided
that the aggregate amount included in EBITDA pursuant to this clause (j) and clause (k) below for any period shall not exceed
35% of EBITDA in the aggregate for such period (calculated prior to giving effect to any adjustments pursuant to this clause (j) or
clause (k) below),

 

(k)            plus
an amount of pro forma “run-rate” adjustments equal to the incremental value (if positive) that the Parent in good
faith reasonably believes would have been realized or achieved as a contribution to EBITDA from (i) any increased pricing or volume
initiative (collectively, “New Pricing or Volume”) and/or (ii) the entry into (and performance under) (A) any
binding and effective new agreement by the Parent or any of its Subsidiaries with any new customers or (B) if the same generates
incremental contract value, any binding and effective new agreement (or any binding and effective amendment to any existing agreement)
by the Parent or any of its Subsidiaries with any existing customer (collectively, “New Contracts”) during the relevant
period as if the relevant New Contract or New Pricing or Volume had been effective and, in the case of New Contracts performance thereunder,
had commenced as of the beginning of the relevant period (which incremental value shall be calculated on a pro forma basis as though
the full run rate effect of such incremental value had been realized as a contribution to EBITDA on the first day of such period), including,
without limitation, such incremental value attributable to any New Contract or New Pricing or Volume that is in excess of (but without
duplication and in all cases net of) the value attributable to any New Contract or New Pricing or Volume that has been actually realized
as a contribution to EBITDA during such period; provided that the aggregate amount included in EBITDA pursuant to this clause (k) and
clause (j) above for any period shall not exceed 35% of EBITDA in the aggregate for such period (calculated prior to giving effect
to any adjustments pursuant to this clause (k) or clause (j) above).

 

For the purposes of calculating
the Consolidated Leverage Ratio, the Net Secured Leverage Ratio, the First Lien Net Secured Leverage Ratio and the ratios set forth in
Sections 9.09 and 9.11, the Parent may at its option (such option to be consistently applied with respect to each Specified Transaction
for purposes of all subsequent calculations), adjust EBITDA for any relevant period to give effect to any Specified Transaction on a
pro forma basis. For the avoidance of doubt, if the Parent has elected to adjust EBITDA for any Specified Transaction in accordance with
this paragraph, it shall also elect to adjust Rent Expense for such Specified Transaction in accordance with the last paragraph of the
definition of the term “Rent Expense”.

 

    18

     

    

 

“EBITDAR”
shall mean, for any period, the sum (without duplication), determined on a consolidated basis for the Parent and its Subsidiaries, of
(a) EBITDA for such period plus (b) Rent Expense for such period.

 

“EEA Financial Institution”
shall mean (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 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”
shall mean any of the member states of the European Union, Iceland, Liechtenstein and Norway.

 

“EEA Resolution
Authority” shall mean 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.

 

“Electronic
Signature” shall mean an electronic sound, symbol, or process attached to, or associated with, a contract or other record
and adopted by a Person with the intent to sign, authenticate or accept such contract or record.

 

“Environmental Laws”
shall mean any and all federal, state, local and foreign statutes, laws (including common law), regulations, ordinances, rules, judgments,
orders, decrees, codes, plans, injunctions, permits, concessions, grants, franchises, licenses or other governmental restrictions, contracts,
indemnities, assumptions of liability or agreements relating to the environment or to emissions, discharges or releases of pollutants,
contaminants, petroleum or petroleum products, chemicals or industrial, toxic or hazardous substances or wastes into the environment
including, without limitation, ambient air, surface water, ground water or land, or otherwise relating to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport or handling of pollutants, contaminants, petroleum or petroleum products,
chemicals or industrial, toxic or hazardous substances or wastes or the clean-up or other remediation thereof.

 

“Environmental Liabilities”
shall mean all liabilities of the Parent and each Subsidiary, whether vested or unvested, contingent or fixed, actual or potential which
arise under or relate to Environmental Laws.

 

“ERISA”
shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time.

 

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

 

    19

     

    

 

“ERISA Event”
shall mean (a) any “reportable event”, as defined in Section 4043(c) of ERISA or the regulations issued thereunder
with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) any failure by any Plan to satisfy
the minimum funding standard (within the meaning of Sections 412 and 430 of the Code or Sections 302 and 303 of ERISA) applicable to
such Plan; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Parent or any ERISA Affiliate of
any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by the Parent or any ERISA Affiliate
from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan under Section 4041 of ERISA or
to appoint a trustee to administer any Plan under Section 4042 of ERISA; (f) the incurrence by the Parent or any ERISA Affiliate
of any liability with respect to a withdrawal from a Plan subject to Section 4063 of ERISA during a plan year in which it was a
 “substantial employer” (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated
as such a withdrawal under Section 4062(e) of ERISA, or a complete withdrawal or partial withdrawal (within the meanings of
Sections 4203 and 4205 of ERISA) from any Multiemployer Plan; or (g) the receipt by the Parent or any ERISA Affiliate of any notice
from any Multiemployer Plan concerning the imposition of Withdrawal Liability on the Parent or any ERISA Affiliate or a determination
that a Multiemployer Plan is insolvent (within the meaning of Section 4245 of ERISA).

 

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

 

“Events of Default”
shall have the meaning assigned to such term in Section 10.01.

 

“Exchange Act”
shall mean the Securities Exchange Act of 1934, as amended from time to time.

 

“Exchange Rate”
shall mean with respect to any Alternate Currency on a particular date, the rate at which such Alternate Currency may be exchanged into
Dollars in London on a spot basis, as set forth on the display page of the Reuters System applicable to such Alternate Currency
as reasonably determined by the Administrative Agent (or, in the case of Letter of Credit Liabilities, by the applicable Issuing Bank
through its principal foreign exchange funding office). In the event that such rate does not appear on any Reuters display page, the
Exchange Rate with respect to such Alternate Currency shall be determined by reference to such other publicly available service for displaying
exchange rates as may be agreed upon by the Administrative Agent and the Company; provided, however, that if at the time
of any such determination, for any reason, no such spot rate is being quoted and no other methods for determining the Exchange Rate can
be determined as set forth above or in the absence of such agreement, the Administrative Agent (or applicable Issuing Bank) may use any
reasonable method it deems applicable to determine such rate, and such determination shall be conclusive absent manifest error.

 

    20

     

    

 

 

“Excluded Subsidiary”
shall mean:

 

(a)        any
Subsidiary of the Parent that is not a Wholly-Owned Subsidiary,

 

(b)        any
Immaterial Subsidiary,

 

(c)        any
Subsidiary that is prohibited or restricted by law, rule or regulation or contractual obligation existing on the A&R Closing
Date or at the time such Person becomes a Subsidiary (in the case of contractual obligations not existing on the A&R Closing Date,
pursuant to a contractual obligation with any third party not entered into expressly in contemplation of such Person becoming a Subsidiary)
from Guaranteeing the Obligations or that would require a governmental (including regulatory) or third party consent, approval, license
or authorization (in the case of contractual obligations, pursuant to a contractual obligation existing on the A&R Closing Date or
at the time such Person becomes a Subsidiary and not entered into expressly in contemplation of such Person becoming a Subsidiary) to
provide a Guarantee of the Obligations (including under any financial assistance, corporate benefit, thin capitalization, capital maintenance,
liquidity maintenance or similar legal principles) unless such consent, approval, license or authorization has been received or obtained,
it being understood that the Parent and its Subsidiaries shall have no obligation to obtain any such consent, approval, license or authorization,

 

(d)        any
not-for-profit subsidiary,

 

(e)        any
Captive Insurance Subsidiary or any subsidiary that is a broker-dealer,

 

(f)        any
Foreign Subsidiary,

 

(g)        any
SPE,

 

(h)        (i) any
Disregarded U.S. Subsidiary and (ii) any Subsidiary that is a subsidiary of any Foreign Subsidiary,

 

(i)        any
Unrestricted Subsidiary,

 

(j)        any
Subsidiary acquired pursuant to an acquisition or investment permitted by this Agreement that has assumed secured Indebtedness that is
permitted under this Agreement and is not incurred in contemplation of such acquisition or investment and any Subsidiary thereof that
guarantees such other secured Indebtedness, in each case to the extent the terms of such secured Indebtedness prohibit such Subsidiary
from becoming a Subsidiary Guarantor; provided that each such Subsidiary shall cease to be an Excluded Subsidiary solely pursuant to
this clause (j) if such secured Indebtedness is repaid or becomes unsecured, if such Subsidiary ceases to Guarantee such secured
Indebtedness or such prohibition no longer exists, as applicable,

 

(k)        any
Subsidiary if the provision of a Guarantee of the Obligations could reasonably be expected to result in materially adverse tax or regulatory
consequences to any Obligor or any of its subsidiaries as determined by the Parent in good faith, and

 

(l)        any
other Subsidiary with respect to which, in the good faith judgment of the Parent (in consultation with the Administrative Agent), the
burden or cost of providing a Guarantee of the Obligations outweighs the benefits afforded thereby.

 

    21

     

    

 

Notwithstanding anything
to the contrary herein or in any other Basic Document, the Parent may, in its sole discretion, cause any Excluded Subsidiary (any
such Person, a “Discretionary Obligor”) to guarantee the Obligations and grant a security in its assets pursuant to
such documentation as the Parent and the Administrative Agent may reasonably agree; provided, that in the case of any Discretionary Obligor
that is a Foreign Subsidiary, the jurisdiction of such person is reasonably acceptable to the Administrative Agent on the basis (A) that
any guarantee or collateral provided by such entity can reasonably be expected to be enforceable by the Administrative Agent or (B) of
any Requirements of Law applicable to the Administrative Agent acting in such capacity with respect to such jurisdiction; provided, further,
the Administrative Agent shall have received all documentation and other information reasonably requested in writing by the Administrative
Agent in connection with customary “know your customer” requirements with respect to such Discretionary Obligor. On the A&R
Closing Date, each of (1) Intercept Parent, Inc. and its Domestic Subsidiaries (other than ITRenew Worldwide, Inc. and
its subsidiaries), (2) Iron Mountain Canada Operations ULC and (3) Iron Mountain (UK) PLC shall be Discretionary Obligors.
Upon such notice, the Parent shall cause such Subsidiary to comply with Section 9.21 and such Subsidiary shall no longer be an “Excluded
Subsidiary” for the purposes of this Agreement or any of the other Basic Documents until such time as its guarantee of the obligations
hereunder and the security interest on its assets are released in accordance with Section 12.17.

 

“Excluded Taxes”
shall mean, with respect to the Administrative Agent, any Lender, the Issuing Bank or any other recipient of any payment to be made by
or on account of any Obligation, (a) Taxes imposed on or measured by its overall net income (however denominated), franchise Taxes
imposed on it, Canadian capital Taxes, and branch profits or similar Taxes imposed on it, in each case by the jurisdiction (or any political
subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located or, in the case
of any Lender, in which its Applicable Lending Office is located; (b) any Other Connection Taxes; (c) in the case of a Lender,
any United States and United Kingdom withholding tax that is imposed on amounts payable to such Lender at the time such Lender becomes
a party hereto (other than pursuant to an assignment request by the Company under Section 6.07(b)) or designates a new lending office,
except to the extent that such Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or
assignment), to receive additional amounts from such Borrower with respect to such withholding Tax pursuant to Section 5.08(a);
(d) Taxes attributable to a recipient’s failure or inability to comply with Section 5.08(f) and (g); (e) any
U.S. Federal withholding Taxes imposed under FATCA; (f) Canadian federal withholding Taxes imposed on a payment to such recipient
by reason of any recipient (i) not dealing at arm’s length (within the meaning of the Income Tax Act (Canada)) with
the relevant Canadian Borrower at the time of such payment or (ii) being a “specified shareholder” (as defined in subsection
18(5) of the Income Tax Act (Canada)) of a Canadian Borrower or not dealing at arm’s length with a “specified
shareholder” of a Canadian Borrower (other than where the non-arm’s length relationship arises, or where such Person is a
 “specified shareholder” or does not deal at arm’s length with a “specified shareholder”, in connection
with or as a result of such Person having become a party to, performed its obligations under, received or perfected a security interest
under, engaged in any other transaction pursuant to or enforced any Basic Document); and (g) any Dutch withholding tax imposed under
the Withholding Tax Act 2021 (Wet bronbelasting 2021) in effect on the date on which such Lender acquires such interest in the
Loan, Letter of Credit or Commitment and by reason of the relevant beneficiary of the interest either being resident in, or for this
purpose operating through a permanent establishment located in, a jurisdiction that is listed in the Dutch Regulation on low-taxing states
and non-cooperative jurisdictions for tax purposes (Regeling laagbelastende staten en niet-coöperatieve rechtsgebieden voor belastingdoeleinden)
on the date on which (A) such Lender acquires such interest in the Loan, Letter of Credit or Commitment or (B) such Lender
changes its lending office, its place of incorporation or its place of tax residence to such jurisdiction.

 

    22

     

    

 

“Existing Credit
Agreement” shall have meaning assigned to such term in the Recitals hereto.

 

“Existing Letters
of Credit” shall mean, collectively, all letters of credit identified on Schedule IV hereto and outstanding on the A&R
Closing Date.

 

“Existing Term B
Lenders” shall mean each Lender that holds an Existing Term B Loan.

 

“Existing Term B
Loan” shall mean each Loan extended to the Company pursuant to the Incremental Activation Notice, dated as of March 22,
2018, sent to the Administrative Agent by the Company. The aggregate principal amount of the Existing Term B Loans existing on the A&R
Closing Date is $673,750,000.

 

“Existing Term B
Loan Maturity Date” shall mean January 2, 2026.

 

“Extension”
shall have the meaning provided in Section 2.12(a).

 

“Extension Offer”
shall have the meaning provided in Section 2.12(a).

 

“Extension Revolving
Commitments” shall have the meaning provided in Section 2.12(a).

 

“Extension Term
Loans” shall have the meaning provided in Section 2.12(a).

 

“Facility”
shall mean any of (a) the 2022 Revolving Commitments and the extensions of credit thereunder, (b) the 2022 Term A Commitments
and the 2022 Term A Loans, (c) the Existing Term B Loans, (d) each tranche of Incremental Loans and (e) each tranche of
Refinancing Loans.

 

“FATCA”
shall mean Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively
comparable and not mate-rially more onerous to comply with), any current or future regulations or official interpretations thereof, and
any fiscal or regulatory legislation, rules or practices adopted pursuant to any inter-governmental agreement, treaty or convention
among Governmental Authorities and implement-ing such Sections of the Code.

 

“Federal Funds Effective
Rate” shall mean, for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary
institutions, as determined in such manner as shall be set forth on the NYFRB’s Website from time to time, and published on the
next succeeding Business Day by the NYFRB as the effective federal funds rate; provided that if the Federal Funds Effective Rate
as so determined would be less than 0.00%, such rate shall be deemed to be 0.00% for the purposes of this Agreement.

 

    23

     

    

 

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

 

“Financial Covenants”
shall mean the covenants set forth in Section 9.09 and 9.11.

 

“First Lien Net
Secured Leverage Ratio” shall mean, with respect to any TTM Period, the ratio of (i) (x) the sum of the aggregate
outstanding principal amount of First Lien Secured Debt (on a consolidated basis) of the Parent and its Subsidiaries on the last day
of such TTM Period less (y) the aggregate amount of cash and Liquid Investments of the Parent and Subsidiaries on the last day of
such TTM Period to (ii) EBITDA for such TTM Period.

 

“First Lien Secured
Debt” shall mean, with respect to a Person as of any given date, the aggregate principal amount of (i) the 2022 Revolving
Loans, the 2022 Term A Loans and the Existing Term B Loans and (ii) all other Funded Indebtedness of such Person outstanding on
such date that is secured in any manner by any Lien on any property of such Person which Lien is pari passu (without regard to the control
of remedies) with the Liens securing the 2022 Revolving Loans, the 2022 Term A Loans and the Existing Term B Loans.

 

“Fixed Charges”
shall mean for any period the sum of (i) Scheduled Amortization for such period plus (ii) Interest Expense for such
period plus (iii) all dividend payments (other than redemptions) on any series of preferred stock during such period plus
(iv) the aggregate amount of Rent Expense for such period.

 

“Floor”
shall mean the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification,
amendment or renewal of this Agreement or otherwise) with respect to the Adjusted Term SOFR Rate, the Adjusted Daily Simple SOFR or the
CDOR Rate, as applicable. For the avoidance of doubt the initial Floor for each of Adjusted Term SOFR Rate, the Adjusted Daily Simple
SOFR and the CDOR Rate shall be 0.00%.

 

“Foreign Lender”
shall mean as to any Borrower, any Lender to such Borrower that is organized under the laws of a jurisdiction other than that in which
such Borrower is resident for any tax purposes. For purposes of this definition, the United States of America, each State thereof and
the District of Columbia shall be deemed to constitute a single jurisdiction.

 

“Foreign Subsidiary”
shall mean a Subsidiary organized under the laws of a jurisdiction other than the United States of America, a State thereof or the District
of Columbia.

 

“Funded Indebtedness”
shall mean, without duplication, (a) all third party Indebtedness for borrowed money (including any Indebtedness for borrowed money
incurred to finance, or assumed in connection with, any acquisition or investment permitted under this Agreement) that matures or otherwise
becomes due more than one year after the incurrence thereof or is extendible, renewable or refundable, at the option of the obligor,
to a date more than one year after the incurrence thereof (including the current portion thereof) of the Parent and its Subsidiaries,
(b) all Indebtedness outstanding under this Agreement, (c) to the extent not otherwise included, any Guarantee by any of the
Parent and its Subsidiaries of the obligations of the type referred to in clause (a) above of another Person and (d) to the
extent not otherwise included, obligations of the type referred to in clause (a) above of another person secured by a Lien on any
property or other asset owned by the Parent or its Subsidiaries (whether or not such Indebtedness is assumed by the Parent or any of
its Subsidiaries) in an amount equal to the lesser of: (x) the fair market value of such property or other asset at such date of
determination, and (y) the amount of such Indebtedness of such other Person secured by such assets; provided that in no event shall
Funded Indebtedness include (i) amounts in respect of undrawn letters of credit, (ii) amounts owing under any Accounts Receivables
Financings or (iii) amounts in respect of indemnification, purchase price adjustment, earn-outs, holdback and contingency payment
obligations, except for any amounts that have become fixed, due and payable and have not been paid within 60 days after becoming so due
and payable (or, to the extent any such amount is disputed in accordance with the dispute resolution mechanics set forth in the applicable
agreement governing the applicable transaction, 60 days following the earlier of (x) expiration of such dispute resolution mechanics
and (y) the resolution of such dispute in accordance with such dispute resolution mechanics)).

 

    24

     

    

 

“Funds From Operations”
shall mean with respect to any fiscal period, an amount equal to the net income (or deficit) of the Parent and its Subsidiaries for that
period computed on a consolidated basis in accordance with GAAP, excluding gains (or losses) from sales of property, plus depreciation
and amortization and after adjustments for unconsolidated partnerships and joint ventures; provided, that Funds From Operations
shall exclude one-time or non-recurring charges and impairment charges, charges from the early extinguishment of indebtedness and other
non-cash charges. Adjustments for unconsolidated partnerships and joint ventures will be calculated to reflect Funds From Operations
on the same basis. To the extent not inconsistent with the foregoing, Funds From Operations shall be reported in accordance with the
NAREIT Policy Bulletin dated April 5, 2002, as amended, restated, supplemented or otherwise modified from time to time.

 

“GAAP”
shall mean generally accepted accounting principles as in effect from time to time in the United States of America consistently applied.

 

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

 

“Guaranty”
by any Person shall mean any obligation, contingent or otherwise, of such Person directly or indirectly guaranteeing any Indebtedness
of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise,
of such Person (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness (whether arising
by virtue of partnership arrangements, by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay,
or to maintain financial statement conditions or otherwise, other than agreements to purchase goods at an arm’s length price in
the ordinary course of business) or (ii) entered into for the purpose of assuring in any other manner the holder of such Indebtedness
of the payment thereof or to protect such holder against loss in respect thereof (in whole or in part), provided that the term
Guaranty shall not include endorsements for collection or deposit in the ordinary course of business. The term “Guarantee”
used as a verb has a corresponding meaning.

 

    25

     

    

 

“Hazardous Substances”
shall mean any toxic, caustic or otherwise hazardous substance, including petroleum, its derivatives, by-products and other hydrocarbons,
including any substance regulated under Environmental Laws.

 

“Hedging Agreement”
shall mean any Interest Rate Agreement or Currency Agreement between the Parent or any Subsidiary and any financial institution.

 

“HMRC DT Treaty
Passport scheme” shall mean the Board of H.M. Revenue and Customs Double Taxation Treaty Passport scheme.

 

“Immaterial
Subsidiary” shall mean, as of any date, any Subsidiary of the Parent (1) that does not have assets (x) individually,
in excess of 5% of the consolidated total assets of the Parent and its Subsidiaries and (y) when taken together with each other
Immaterial Subsidiary, in excess of 10% of the consolidated total assets of the Parent and its Subsidiaries and (2) that does not
contribute revenue (x) individually, in excess of 5% of the consolidated revenue of the Parent and its Subsidiaries and (y) when
taken together with the revenue contributed by each other Immaterial Subsidiary, in excess of 10% of the consolidated revenue of the
Parent and its Subsidiaries, in each case, as of the last day of the most recently ended TTM Period. The Subsidiaries on Schedule
II identified as “Immaterial Subsidiaries” are designated Immaterial Subsidiaries as of the A&R Closing Date.

 

“Incremental Cap”
shall mean, as of any date of determination:

 

(a)        the
greater of $1,600,000,000 and 100% of EBITDA as of the last day of the most recently ended TTM Period, calculated on a pro forma basis,
minus the aggregate principal amount of Incremental Facilities and Incremental Equivalent Debt outstanding on such date and incurred
in reliance on this clause (a) (after giving effect to any reclassification as having been incurred under clause (c) in accordance
with the terms of this definition on or prior to such date), plus

 

(b)        (i) the
amount of any optional prepayment of any Term Loan (including any Incremental Term Loan) in accordance with Section 3.02 and the
amount of any permanent reduction of any Revolving Commitment and (ii) the amount of any optional prepayment, redemption, repurchase
or retirement of any other Indebtedness (which, in the case of any Indebtedness under any revolving facility, is accompanied by a permanent
reduction of the applicable revolving commitments) that is secured on a pari passu basis on the Collateral with the Obligations, which
amount under this subclause (ii) shall be limited, in the case of any repurchases of Indebtedness below par, to the amount paid
to repurchase such debt; provided that for each of subclauses (i) and (ii), the relevant prepayment, redemption, repurchase, retirement,
assignment and/or purchase was not funded with the proceeds of any long-term Indebtedness (other than revolving Indebtedness), minus
the aggregate principal amount of Incremental Facilities and Incremental Equivalent Debt outstanding on such date and incurred in reliance
on this clause (b) (after giving effect to any reclassification as having been incurred under clause (c) in accordance with
the terms of this definition on or prior to such date), plus

 

    26

     

    

 

(c)        an
unlimited amount so long as, in the case of this clause (c), on a pro forma basis as of the last day of the period of four fiscal quarters
most recently completed for which financial statements have been (or were required to be) delivered pursuant to Section 9.01(1) or
9.01(2), after giving effect to the incurrence of the Incremental Facility or Incremental Equivalent Debt (calculated as if any Incremental
Commitments or Incremental Equivalent Debt in respect of Revolving Loans or delayed drawn term loans were fully drawn as of such date
of calculation) and the application of the proceeds thereof (without netting the cash proceeds thereof, but giving effect to any related
transaction) and to any relevant Specified Transaction, (i) if such Indebtedness is secured by a Lien on the Collateral that is
pari passu with the Liens securing the Obligations, the First Lien Net Secured Leverage Ratio does not exceed 2.50 to 1.00 (ii) if
such Indebtedness is secured by a Lien on the Collateral that is junior to the Liens securing the Obligations, the Net Secured Leverage
Ratio does not exceed 3.00 to 1.00 and (iii) if such Indebtedness is unsecured, the Parent will be in compliance with the Financial
Covenants;

 

provided that:

 

(1)        any
Incremental Facility or Incremental Equivalent Debt may be incurred under one or more of clauses (a) through (c) of this definition
as selected by the Parent in its sole discretion,

 

(2)        if
any Incremental Facility or Incremental Equivalent Debt is intended to be incurred or implemented under clause (c) of this definition
and any other clause of this definition in a single transaction or series of related transactions, (A) the incurrence of the portion
of such Incremental Facility or Incremental Equivalent Debt to be incurred or implemented under clause (c) of this definition shall
be calculated first without giving effect to any Incremental Facility or Incremental Equivalent Debt to be substantially simultaneously
incurred or implemented under any other clause of this definition, but giving full pro forma effect to the use of proceeds of the entire
amount of the Incremental Facility or Incremental Equivalent Debt to be incurred in such transaction (or series of related transactions)
and any related Specified Transactions (without netting the cash proceeds thereof) and (B) the substantially simultaneous incurrence
of the portion of such Incremental Facility or Incremental Equivalent Debt to be incurred or implemented under the other applicable clauses
of this definition shall be calculated thereafter,

 

(3)        any
portion of any Incremental Facility or Incremental Equivalent Debt that is incurred or implemented under clause (a) or (b) of
this definition, unless otherwise elected by the Parent, shall automatically and without need for action by any Person, be reclassified
as having been incurred under clause (c) of this definition if, at any time after the incurrence or implementation thereof, upon
delivery of any financial statements required to be delivered pursuant to Section 9.01(1) or Section 9.01(2), such portion
of such Incremental Facility or Incremental Equivalent Debt would, using the figures reflected in such financial statements, be (or have
been) permitted under clause (c) of this definition, and

 

(4)         in
the case of any Incremental Commitments or Incremental Equivalent Debt in the form of revolving loans or a revolving facility, if a full
drawing thereunder is permitted at the time the commitments in respect thereof are established, then the obligors thereunder may thereafter
borrow, repay, prepay and reborrow amounts thereunder, in whole or in part, from time to time, without further compliance with the provisions
of this definition.

 

“Incremental Commitment”
shall mean any commitment made by a lender to provide all or any portion of any Incremental Facility or Incremental Loans.

 

    27

     

    

 

“Incremental Equivalent
Debt” shall mean any Indebtedness that satisfies the following conditions:

 

(a)        the
aggregate principal amount thereof does not exceed the Incremental Cap as in effect at the time of determination (after giving effect
to any reclassification on or prior to such date of determination),

 

(b)        any
such Indebtedness in the form of revolving loans shall mature no earlier than, and require no scheduled mandatory commitment reduction
prior to, the 2022 Revolving Loan Maturity Date,

 

(c)        the
final maturity date with respect to (x) any such Indebtedness that does not constitute Term B Loans shall be no earlier than the
2022 Term A Loan Maturity Date at the time of the incurrence thereof and (y) any such Indebtedness that constitutes Term B Loans
shall be no earlier than the Latest Maturity Date applicable at the time of the incurrence thereof; provided, that the foregoing
limitation shall not apply to (1) customary bridge loans with a maturity date not longer than one year which, subject to customary
conditions, would either be automatically converted into or required to be exchanged for permanent financing which would otherwise comply
with this clause (c), or (2) Indebtedness in an aggregate principal amount not to exceed the Inside Maturity Amount,

 

(d)        the
Weighted Average Life to Maturity of (x) any such Indebtedness that does not constitute Term B Loans shall be no shorter than the
remaining Weighted Average Life to Maturity of the 2022 Term A Loans at the time of incurrence thereof and (y) any such Indebtedness
that constitutes Term B Loans shall be no shorter than the remaining Weighted Average Life to Maturity of any outstanding Class of
Term Loans at the time of incurrence thereof; provided, that the foregoing limitation shall not apply to (1) customary bridge
loans with a maturity date of not longer than one year which, subject to customary conditions, would either be automatically converted
into or required to be exchanged for permanent financing which would otherwise comply with this clause (d), or (2) Indebtedness
in an aggregate principal amount not to exceed the Inside Maturity Amount,

 

(e)        (1) such
Indebtedness may, at the option of the Company, rank pari passu with or junior to the 2022 Term A Loans, the 2022 Revolving Loans and
the Existing Term B Loans in each case in right of payment; (2) such Indebtedness, at the option of the Company, may be unsecured
or secured by Liens on the Collateral that rank pari passu with or junior to the Liens on the Collateral securing the 2022 Term A Loans,
the 2022 Revolving Loans and the Existing Term B Loans; provided that, to the extent any such Indebtedness is secured by Liens
on the Collateral, the lenders providing such Incremental Facility shall be subject to an intercreditor agreement on terms and conditions
reasonably satisfactory to the Company and the Administrative Agent; and (3) no such Indebtedness may be (x) guaranteed by
any Person which is not an Obligor or (y) secured by Liens on any assets other than the Collateral, and

 

(f)        any
such Indebtedness may provide for the ability to participate (x) on a pro rata basis or non-pro rata basis in any voluntary prepayment
of Term Loans made pursuant to Section 3.02(a) and (y) on a pro rata or less than pro rata basis (but not on a greater
than pro rata basis, other than in the case of prepayment with proceeds of Indebtedness refinancing such Incremental Term Loans) in any
mandatory prepayment of Term Loans required pursuant to Section 3.02(b) or (c).

 

    28

     

    

 

“Incremental Facility
Amendment” shall mean an amendment to this Agreement that is reasonably satisfactory to the Administrative Agent and the Parent
executed by each of (a) the applicable Borrowers, (b) the Administrative Agent and (c) each Lender that agrees to provide
all or any portion of the Incremental Facility being incurred pursuant thereto and in accordance with Section 2.01(d).

 

“Incremental Lender”
shall mean, with respect to each Incremental Facility, each Lender providing any portion of such Incremental Facility.

 

“Indebtedness”
shall mean, as to any Person (determined without duplication):

 

(i)         indebtedness
of such Person for borrowed money (whether by loan or the issuance and sale of debt securities) or for the deferred purchase or acquisition
price of property or services (including amounts payable under agreements not to compete and other similar arrangements), other than
accounts payable (other than for borrowed money) incurred in the ordinary course of business and accrued expenses incurred in the ordinary
course of business;

 

(ii)        obligations
of such Person in respect of letters of credit or similar instruments issued or accepted by banks and other financial institutions for
the account of such Person;

 

(iii)       Capital
Lease Obligations and Synthetic Lease Obligations of such Person;

 

(iv)       obligations
of such Person to redeem or otherwise retire shares of Capital Stock of such Person;

 

(v)        for
purposes of Section 10.01(2) only, indebtedness of such Person under any Hedging Agreement and any Cash Management Agreement;

 

(vi)       indebtedness
of others of the type described in clauses (i) through (v) (in the case of clause (v), for purposes of Section 10.01(2) only)
above secured by a Lien on the property of such Person, whether or not the respective obligation so secured has been assumed by such
Person;

 

(vii)      indebtedness
of others of the type described in clauses (i) through (v) (in the case of clause (v), for purposes of Section 10.01(2) only)
above Guaranteed by such Person; and

 

(viii)     Accounts
Receivable Financings and Permitted Mortgage Financings of such Person;

 

Notwithstanding anything
to the contrary contained in clause (i) of the preceding paragraph, indebtedness of any Person in respect of amounts payable
under an agreement not to compete shall be the amount carried on the balance sheet of such Person in respect of such agreement in accordance
with GAAP.

 

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“Indemnified Taxes”
shall mean (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation
of any Borrower under any Basic Document and (b) to the extent not otherwise described in (a), Other Taxes.

 

“Inside Maturity
Amount” shall mean as of any date of determination, an amount equal to (i) the greater of $800,000,000 and 50% of EBITDA
as of the last day of the most recently ended TTM Period, calculated on a pro forma basis, less (ii) the aggregate principal
amount of Existing Term B Loans outstanding as of the A&R Closing Date plus (iii) the aggregate principal amount of Refinancing
Term Loans in respect of any Existing Term B Loans that have (1) a Weighted Average Life to Maturity that is no shorter than the
remaining Weighted Average Life to Maturity of any outstanding Class of Term Loans at the time of incurrence thereof and (2) a
final maturity date that is no earlier than the Latest Maturity Date applicable at the time of the incurrence thereof, less (iii) the
aggregate principal amount of Indebtedness incurred in reliance on the “Inside Maturity Amount” since the A&R Closing
Date.

 

“Interest Expense”
shall mean, for any period, the sum (determined without duplication) of the aggregate amount of interest accruing during such period
on Indebtedness of the Parent and its Subsidiaries (on a consolidated basis), including the interest portion of rental or similar payments
under Capital Lease Obligations and Synthetic Leases and any capitalized interest, and excluding amortization of debt discount and expense,
interest paid in kind and any swap “breakage” or similar costs.

 

“Interest Payment
Date” shall mean (a) with respect to any ABR Loan or C$ Prime Loan, the last day of each March, June, September and
December and the applicable Maturity Date, (b) with respect to any RFR Loan, (1) each date that is on the numerically
corresponding day in each calendar month that is one month after the Borrowing of such Loan (or, if there is no such numerically corresponding
day in such month, then the last day of such month) and (2) the Maturity Date, and (c) with respect to any Term Benchmark Loan
or CDOR Loan, the last day of each Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Term
Benchmark Borrowing or CDOR Loan with an Interest Period of more than three months’ duration, each day prior to the last day of
such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period, and the applicable
Maturity Date.

 

“Interest Period”
shall mean with respect to any Term Benchmark Borrowing or Borrowing of CDOR Loans, the period commencing on the date of such Borrowing
and ending on the numerically corresponding day in the calendar month that is one, three or, (other than in respect of any CDOR Loan)
six months thereafter (in each case, subject to the availability for the Benchmark applicable to the relevant Loan or Commitment), as
any applicable Borrower may elect; provided, that (i) if any Interest Period would end on a day other than a Business Day,
such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the
next calendar month, in which case such Interest Period shall end on the next preceding Business Day, (ii) any Interest Period that
commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar
month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period and (iii) no
tenor that has been removed from this definition pursuant to Section 6.02(e) shall be available for specification in such borrowing
request or request to continue any Term Benchmark Loan or CDOR Loan or to convert any Loan to a Term Benchmark Loan or a CDOR Loan. For
purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and, in the case of a Revolving
Borrowing, thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.

 

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“Interest Rate Agreement”
shall mean an interest rate swap agreement, interest rate cap agreement or similar arrangement between the Parent or any Subsidiary and
any financial institution.

 

“Investments”
shall have the meaning assigned to such term in Section 9.14 hereof.

 

“ISP”
shall mean, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the Institute of
International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance).

 

“Issuing Bank”
shall mean (a) JPMorgan Chase Bank or any Affiliate thereof, (b) Bank of America, N.A. or any Affiliate thereof, (c) Barclays
Bank PLC or any Affiliate thereof, or (d) any other Lender so designated with the consent of such other Lender, JPMorgan Chase Bank
and the Company.

 

“Issuing
Bank Sublimit” shall mean (a) $83,333,333.34 in the case of JPMorgan Chase Bank and its Affiliates, (b) $83,333,333.34
in the case of Bank of America, N.A. and its Affiliates, (c) $83,333,333.34 in the case of Barclays Bank PLC and its Affiliates
and (d) in the case of any other Issuing Bank, an amount agreed by such Issuing Bank and the Company.

 

“JPMorgan Chase
Bank” shall mean JPMorgan Chase Bank, N.A. and its successors.

 

“Latest Maturity
Date” shall mean, at any date of determination, the latest Maturity Date applicable to any Loan or Commitment hereunder at
such time, including in respect of any Incremental Loans and including any Maturity Date that has been extended from time to time in
accordance with this Agreement.

 

“L/C Exposure”
shall have the meaning provided in Section 2.10.

 

“Lenders”
shall mean the Revolving Lenders, the Term Lenders and any other Person that shall have become a party hereto pursuant to a Refinancing
Facility Agreement.

 

“Letter of Credit
Documents” shall mean, with respect to any Letter of Credit, collectively, any application therefor and any other agreements,
instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or
providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any
collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

 

“Letter of Credit
Liability” shall mean, without duplication, at any time and in respect of any Letter of Credit, the sum of (a) the undrawn
stated amount of such Letter of Credit plus (b) the aggregate unpaid principal amount of all Reimbursement Obligations at
such time due and payable in respect of all drawings made under such Letter of Credit. For purposes of this Agreement, a Lender (other
than the Issuing Bank) shall be deemed to hold a Letter of Credit Liability in an amount equal to its participation interest in the related
Letter of Credit under Section 2.08 hereof, as the case may be, and the Issuing Bank shall be deemed to hold a Letter of Credit
Liability in an amount equal to its retained interest in the related Letter of Credit after giving effect to the acquisition by the Lenders
other than the Issuing Bank of their participation interests under said Section 2.08. For all purposes of this Agreement, if on
any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation
of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amounts so remaining available
to be drawn.

 

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“Letter of Credit
Sublimit” shall mean $250,000,000, as such amount may be decreased from time to time by the Company.

 

“Letters of Credit”
shall have the meaning assigned to such term in Section 2.08 hereof.

 

“Liabilities”
shall mean any losses, claims (including intraparty claims), demands, damages or liabilities of any kind.

 

“Lien”
shall mean, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of
such asset. For the purposes of this Agreement, the Parent and each of its Subsidiaries shall be deemed to own subject to a Lien any
asset which it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, capital lease
or other title retention agreement relating to such asset.

 

“Liquid Investments”
shall mean:

 

(i)         securities
with maturities of one year or less from the date of acquisition, issued, fully guaranteed or insured by the government of a Participating
Member State, the United Kingdom or the U.S. (or any agency thereof), as applicable, having a rating of Baa3 or better by Moody’s
or BBB– or better by S&P (in each case, with a stable or better outlook), or carrying an equivalent rating by an internationally
recognized rating agency if both of the two named rating agencies cease publishing ratings of investments;

 

(ii)        certificates
of deposit, time deposits, overnight bank deposits, bankers’ acceptances and repurchase agreements issued by a Qualified Issuer
having maturities of 270 days or less from the date of acquisition;

 

(iii)       commercial
paper of an issuer rated at least A-2 by S&P, or P-2 by Moody’s, or carrying an equivalent rating by a nationally recognized
rating agency if both of the two named rating agencies cease publishing ratings of investments, and having maturities of 270 days or
less from the date of acquisition;

 

(iv)       money
market accounts or funds with or issued by Qualified Issuers;

 

(v)        Investments
in money market funds substantially all of the assets of which are comprised of securities and other obligations of the types described
in clauses (i) through (iii) above or (vi) below; and

 

(vi)       any
U.S. Dollar denominated demand deposits with a Qualified Issuer, and, with respect to any Excluded Subsidiary, any non-U.S. Dollar denominated
demand deposits with a Qualified Issuer.

 

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The term “Liquid Investments”
shall also include (x) Investments of the type and maturity described in this definition of “Liquid Investments” of
foreign obligors, which Investments or obligors (or the parent companies thereof) have the ratings (if any) described in such clauses
or equivalent ratings from comparable foreign rating agencies and (y) other short-term Investments utilized by Foreign Subsidiaries
in accordance with normal investment practices for cash management in Investments analogous to the Investments described in this definition
of “Liquid Investments” and in this paragraph.

 

“Loans”
shall mean the Revolving Loans, the Term Loans and any loans made by the Lenders to the Borrowers pursuant to any Refinancing Facility
Agreement.

 

“Majority Lenders”
shall mean Lenders having more than 50% of (a) the aggregate amount of (i) the Revolving Commitments and (ii) the aggregate
unpaid principal amount of the Term Loans or (b) if the Revolving Commitments shall have terminated, the aggregate unpaid principal
amount of the Loans and Letter of Credit Liabilities; provided that, solely for the purposes of determining whether Majority Lenders
have consented to (x) any amendment or modification to any of the Financial Covenants, the definition of “Net Total Lease
Adjusted Leverage Ratio”, “EBITDAR” or “Fixed Charges” (or any component definitions thereof as applied
in such sections) or (y) any waiver of a Default or Event of Default under the Financial Covenants, the Term B Loans and Commitments
in respect of Term B Loans of the Term B Lenders shall be disregarded.

 

“Majority Revolving
Lenders” shall mean Lenders having more than 50% of (a) the Revolving Commitments or (b) if the Revolving Commitments
shall have terminated, the aggregate unpaid principal amount of the Loans and Letter of Credit Liabilities.

 

“Material Adverse
Effect” shall mean a material adverse effect on (a) the business, assets, property or condition (financial or otherwise)
of the Parent and its Subsidiaries taken as a whole, (b) the rights and remedies of the Lenders, the Administrative Agent and/or
the Canadian Administrative Agent under any of the Basic Documents or (c) the Obligors’ ability to make timely payment of
the principal of or interest on the Loans or the Reimbursement Obligations or other amounts payable under this Agreement.

 

“Maturity Date”
shall mean (a) with respect to the 2022 Revolving Facility, the 2022 Revolving Loan Maturity Date, (b) with respect to the
2022 Term A Loans, the 2022 Term A Loan Maturity Date, (c) with respect to the Existing Term B Loans, the Existing Term B Loan Maturity
Date, (d) with respect to any Incremental Facility, the final maturity date set forth in the applicable Incremental Facility Amendment,
(e) with respect to any Extension Term Loans or Extension Revolving Commitments, the final maturity date set forth in the applicable
amendment effecting such Extension Term Loans or Extension Revolving Commitments and (f) with respect to any Refinancing Term Loans
or Refinancing Revolving Commitments, the final maturity date set forth in the applicable amendment effecting such Refinancing Term Loans
or Refinancing Revolving Commitments.

 

    33

     

    

 

“Minimum Extension
Condition” shall have the meaning provided in Section 2.12(b).

 

“Multiemployer Plan”
shall mean at any time an employee pension benefit plan within the meaning of Section 4001 (a)(3) of ERISA to which the Parent
or any member of the Controlled Group is then making or accruing an obligation to make contributions or has within the preceding five
plan years made contributions, including for these purposes, any Person which ceased to be a member of the Controlled Group during such
five year period.

 

“Net Cash Proceeds”
shall mean, in each case as set forth in a statement in reasonable detail delivered to the Administrative Agent:

 

(a)        with
respect to the disposition of any asset by the Parent or any of its Subsidiaries, the excess, if any, of (i) the cash received in
connection with such disposition over (ii) the sum of (A) the principal amount of any Indebtedness which (except in the case
of Indebtedness of any Excluded Subsidiary permitted under clause (ix)(k) of Section 9.08 hereof) is secured by such asset
and which is required to be repaid in connection with the disposition thereof, plus (B) the reasonable out-of-pocket expenses
incurred by the Parent or such Subsidiary, as the case may be, in connection with such disposition, plus (C) any Taxes paid
or payable or REIT distributions distributed or to be distributed pursuant to Section 9.15, in each case, as reasonably determined
by the Parent, in each case, attributable to the disposition of such asset;

 

(b)        with
respect to the issuance or incurrence of any Indebtedness of the Parent or any its Subsidiaries, the gross proceeds received by the Parent
or such Subsidiary from such issuance or incurrence less all reasonable legal expenses, discounts and commissions and other fees and
expenses incurred or to be incurred and all federal, state, local and foreign Taxes assessed or to be assessed in connection therewith;
and

 

(c)        in
the case of any Casualty Event, the aggregate amount of proceeds of insurance, condemnation awards and other compensation received by
the Parent and its Subsidiaries in respect of such Casualty Event net of (i) reasonable expenses incurred by the Parent and its
Subsidiaries in connection therewith and (ii) contractually required repayments of Indebtedness to the extent secured by a Lien
on such property and any Taxes paid or payable or REIT distributions distributed or to be distributed pursuant to Section 9.15 by
the Parent or any of its Subsidiaries, in each case, in respect of such Casualty Event, in each case, as reasonably determined by the
Parent.

 

“Net Secured Leverage
Ratio” shall mean, for any TTM Period, the ratio of (i) (x) the sum of the aggregate outstanding principal amount
of Secured Debt (on a consolidated basis) of the Parent and its Subsidiaries on the last day of such TTM Period less (y) the aggregate
amount of cash and Liquid Investments of the Parent and Subsidiaries on the last day of such TTM Period to (ii) EBITDA for such
TTM Period.

 

“Net Total Lease
Adjusted Leverage Ratio” shall have the meaning assigned to such term in Section 9.09 hereof.

 

“Non-Consenting
Lender” shall have the meaning assigned to such term in Section 12.05(b) hereof.

 

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“Non-public Lender”
means any Person which does not belong to the “public” within the meaning of CRD IV.

 

“Notes”
shall mean the promissory notes provided for by Section 2.06 hereof and all promissory notes delivered in substitution or exchange
therefor, in each case as the same shall be modified and supplemented and in effect from time to time.

 

“NYFRB”
shall mean the Federal Reserve Bank of New York.

 

“NYFRB’s
Website” shall mean the website of the NYFRB at http://www.newyorkfed.org, or any successor source.

 

“NYFRB Rate”
shall mean, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank
Funding Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided
that if none of such rates are published for any day that is a Business Day, the term “NYFRB Rate” shall mean the rate
for a federal funds transaction quoted at 11:00 a.m. on such day received by the Administrative Agent from a federal funds broker
of recognized standing selected by it; provided, further, that if any of the aforesaid rates as so determined be less than 0.00%, such
rate shall be deemed to be 0.00% for purposes of this Agreement.

 

“Obligations”
shall mean (a) all indebtedness (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or
other similar proceeding, regardless of whether allowed or allowable in such proceeding) and other monetary obligations of any of the
Obligors to any of the Lenders, the Issuing Banks, the Administrative Agent and their respective Affiliates, individually or collectively,
existing on the A&R Closing Date or arising thereafter (direct or indirect, joint or several, absolute or contingent, matured or
unmatured, liquidated or unliquidated, secured or unsecured) arising or incurred under this Agreement or any of the other Basic Documents
(including under any of the Loans made or reimbursement or other monetary obligations incurred or any of the Letters of Credit or other
instruments at any time evidencing any thereof), in each case whether now existing or hereafter arising, whether all such obligations
arise or accrue before or after the commencement of any bankruptcy, insolvency or receivership proceedings (and whether or not such claims,
interest, costs, expenses or fees are allowed or allowable in any such proceeding), and (b) all obligations under Cash Management
Agreements and Hedging Agreements to one or more of the Administrative Agent, the Canadian Administrative Agent, the Lenders,
the Issuing Banks and/or any of their respective Affiliates or to Persons who were (or whose Affiliates were) the Administrative Agent,
the Canadian Administrative Agent, a Lender or an Issuing Bank at the time the applicable Hedging Agreement or Cash Management Agreement
was entered into; provided, that obligations under Cash Management Agreements and Hedging Agreements shall cease to constitute
Obligations on and after the date all Obligations under clause (a) are paid in full in cash (other than any contingent indemnification
obligations for which no claim has been asserted) and all Commitments hereunder have been terminated.

 

“Obligor”
shall mean, collectively, each of the Parent, the Company, each of the other Borrowers and each of the Subsidiary Guarantors (including
any Discretionary Obligors).

 

    35

     

    

 

“Original Closing
Date” shall mean August 21, 2017.

 

“Other Connection
Taxes” shall mean, with respect to any Administrative Agent, Lender, the Issuing Bank or any other recipient, Taxes imposed
as a result of a present or former connec-tion between such Person and the jurisdiction imposing such Tax (other than connections arising
from such Person having executed, delivered, become a party to, performed its obligations under, received payments under, received or
perfected a security interest under, engaged in any other transaction pursuant to or enforced any Basic Document, or sold or assigned
an interest in any Loan or Basic Document).

 

“Other Taxes”
shall mean all present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies arising
from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement, ex-cept
any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 6.07(b)).

 

“Overnight Bank
Funding Rate” shall mean, for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions
denominated in Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the
NYFRB as set forth on the NYFRB’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as
an overnight bank funding rate.

 

“Parent”
shall have the meaning set forth in the preamble.

 

“Parent Guaranty”
shall mean the amended and restated guaranty, dated as of the A&R Closing Date, as said agreement shall be modified and supplemented
and in effect from time to time, pursuant to which the Parent guarantees the obligations of the Borrowers under the Basic Documents,
in substantially the form of Exhibit E hereto.

 

“Parent Pledge Agreement”
shall mean the amended and restated pledge agreement, dated as of the A&R Closing Date, to which the Parent and the Administrative
Agent are parties, as the same shall be modified and supplemented and in effect from time to time, in substantially the form of Exhibit D
hereto.

 

“Participant Register”
shall have the meaning set forth in Section 12.06.

 

“Participating Member
State” shall mean any of the member states of the European Union that have adopted and continue to retain a common single currency
through monetary union in accordance with European Union treaty law (as amended from time to time).

 

“PBGC”
shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA or any entity succeeding to any or all of its functions.

 

“Permitted Acquisition”
shall have the meaning set forth in Section 9.14.

 

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“Permitted Mortgage”
shall mean any mortgage subjecting property of any Subsidiary of the Parent to a Lien where (i) the Parent shall agree, for the
benefit of the Administrative Agent and the Lenders, not to permit any Subsidiary owning any interest in such property to create, incur
or suffer to exist any Indebtedness other than a Permitted Mortgage Financing or the Indebtedness hereunder and (ii) such mortgage
(and the other documentation, if any, relating thereto) does not contain any covenants or other provisions limiting or restricting the
ability of the Parent and its Subsidiaries to guarantee the obligations of the Obligors or to provide collateral to secure the obligations
of the Obligors, in each case under the Basic Documents except for any such restrictions that apply solely to the SPE which consummates
such Permitted Mortgage Financing.

 

“Permitted Mortgage
Financing” shall mean any financing (or series of related financings) by the Parent or any of its Subsidiaries that is secured
by a mortgage on one or more Physical Facilities, provided that (a) such financings are permitted by the terms of Section 9.08
hereof and (b) in the case of each such mortgage financing by a Subsidiary of the Parent, each such mortgage created thereby is
a Permitted Mortgage.

 

“Person”
shall mean an individual, a corporation, a company, a voluntary association, a partnership, a limited liability company, a trust, an
unincorporated organization or a government or any agency, instrumentality or political subdivision thereof.

 

“Physical Facility”
shall mean any facility, or part of a facility (including, without limitation, related office buildings, parking lots or other related
real property), now or hereafter owned by the Parent or any of its Subsidiaries, in each case including, without limitation, the land
on which such facility is located, all buildings and other improvements thereon, including leasehold improvements, all fixtures, furniture,
equipment, inventory and other tangible personal property located in or used in connection with such facility and all accounts receivable
and other intangible personal property (other than motor vehicles) related to the ownership, lease or operation of such facility, all
whether now existing or hereafter acquired.

 

“Plan”
shall mean an employee pension benefit plan which is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412
of the Code and is either (a) maintained by the Parent or any member of the Controlled Group for employees of the Parent or any
member of the Controlled Group or (b) maintained pursuant to a collective bargaining agreement or any other arrangement under which
more than one employer makes contributions and to which the Parent or any member of the Controlled Group is then making or accruing an
obligation to make contributions or has within the preceding five plan years made contributions.

 

“Post-Default Rate”
shall mean (a) as to any overdue amounts constituting the principal of any Loan or any Reimbursement Obligation payable by the Company
or any other Borrower hereunder, a rate equal to the sum of 2% plus the interest rate otherwise applicable thereto, and (b) as
to overdue interest, fees and other amounts payable under this Agreement, a rate equal to the sum of 2% plus the interest rate
otherwise applicable to ABR Loans.

 

“Prime Rate”
shall mean the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall Street
Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical
Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein,
any similar rate quoted therein (as determined by the Administrative Agent) or any similar release by the Federal Reserve Board (as determined
by the Administrative Agent). Each change in the Prime Rate shall be effective from and including the date such change is publicly announced
or quoted as being effective.

 

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“pro forma basis”
shall mean (i) with respect to compliance with any test or covenant or calculation of any ratio under this Agreement (including,
for the avoidance of doubt, for the purposes of Sections 9.09 and 9.11 hereof) as of any date, the determination or calculation of any
applicable tests or ratios shall be calculated assuming that all Specified Transactions taking place (x) during the most recently
ended TTM Period, and (y) other than for the purposes of (1) determining compliance with Sections 9.09 or 9.11, (2) determining
the Applicable Margin and (iii) determining the Applicable Commitment Fee Rate, after such TTM Period but prior to such date or
concurrently with the transaction or initiative for which such test or covenant or calculation is being made (and any increase or decrease
in EBITDA or EBITDAR and the component financial definitions used therein attributable to any Specified Transaction) had occurred on
the first day of the applicable TTM Period and (ii) whenever pro forma effect is to be given to a Specified Transaction, the pro
forma calculations shall be made in good faith by an officer of the Parent.

 

“Proposed Change”
shall have the meaning assigned to such term in Section 12.05(b).

 

“Public-Sider”
shall mean a Lender whose representatives may trade in securities of the Parent, the Company or any of their respective Subsidiaries
while in possession of the financial statements provided by the Parent under the terms of this Agreement.

 

“Qualified Issuer”
shall mean (i) any Lender or (ii) any commercial bank or financial institution the outstanding short-term debt securities of
which are rated at least A-2 by S&P or at least P-2 by Moody’s, or carry an equivalent rating by a nationally recognized rating
agency if both of the two named rating agencies cease publishing ratings of investments.

 

“Quarterly Dates”
shall mean the last Business Day of March, June, September and December of each year.

 

“RCRA”
shall mean the Resource Conservation and Recovery Act, as amended.

 

“Recovery Event”
shall mean any settlement of or payment in respect of any property or casualty insurance claim or any condemnation proceeding relating
to any asset of the Parent or any of its Subsidiaries.

 

“Reference Time”
with respect to any setting of the then-current Benchmark shall mean (1) if such Benchmark is the Term SOFR Rate, 5:00 a.m. (Chicago
time) on the day that is two Business Days preceding the date of such setting, (2) if the RFR for such Benchmark is Daily Simple
SOFR, then four Business Days prior to such setting or (3) if such Benchmark is none of the Term SOFR Rate or Daily Simple SOFR,
the time determined by the Administrative Agent in its reasonable discretion.

 

“Refinancing Commitments”
shall mean a Refinancing Revolving Commitment or a Refinancing Term Loan Commitment.

 

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“Refinancing Facility
Agreement” shall mean an amendment to this Agreement, in form and substance reasonably satisfactory to the Administrative Agent
and the Company, among the Borrowers, the Administrative Agent and one or more Refinancing Lenders, establishing Refinancing Commitments
and effecting such other amendments hereto and to the other Basic Documents as are contemplated by Section 2.13.

 

“Refinancing Lenders”
shall mean the Refinancing Revolving Lenders and the Refinancing Term Lenders.

 

“Refinancing Loans”
shall mean the Refinancing Revolving Loans and the Refinancing Term Loans.

 

“Refinancing Revolving
Commitments” shall have the meaning given thereto in Section 2.13(a).

 

“Refinancing Revolving
Lender” shall have the meaning given thereto in Section 2.13(a).

 

“Refinancing Revolving
Loans” shall have the meaning given thereto in Section 2.13(a).

 

“Refinancing Term
Lender” shall have the meaning given thereto in Section 2.13(a).

 

“Refinancing Term
Loan Commitments” shall have the meaning given thereto in Section 2.13(a).

 

“Refinancing Term
Loans” shall have the meaning given thereto in Section 2.13(a).

 

“Register”
shall have the meaning given thereto in Section 12.06(e).

 

“Regulation D”
shall mean Regulation D of the Board of Governors of the Federal Reserve System as the same may be amended or supplemented from time
to time.

 

“Regulatory Change”
shall mean, with respect to any Lender, any change on or after the Original Closing Date in United States federal, state or foreign laws
or regulations, including as a result of (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules,
guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated
by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the
United States or foreign regulatory authorities, in each case pursuant to each of the principal agreements on capital, liquidity and
leverage standards comprising the Basel III Accord (in the case of each of (x) and (y), whether or not such change was on or after
the Original Closing Date), and including Regulation D, or the adoption or making on or after the Original Closing Date of any interpretations,
directives or requests applying to a class of lenders including such Lender of or under any United States federal or state, or any foreign,
laws or regulations (whether or not having the force of law) by any court or governmental or monetary authority charged with the interpretation
or administration thereof.

 

“Reimbursement Obligations”
shall mean, at any time, the obligations of the Borrowers to reimburse amounts paid by any Issuing Bank in respect of any drawings under
a Letter of Credit.

 

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“REIT”
shall mean a real estate investment trust as defined and taxed under Sections 856-860 of the Code.

 

“Related Parties”
shall mean, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees, agents
and advisors of such Person and such Person’s Affiliates.

 

“Related
Security” means, with respect to any accounts receivable, revenue stream or other right of payment, (a) all of
the interest in the inventory and goods (including returned or repossessed inventory or goods), if any, the financing or lease of which
gave rise to such accounts receivable, revenue stream or other right of payment and all insurance contracts with respect thereto, (b) all
other security interests or liens and property subject thereto from time to time, if any, purporting to secure payment of such accounts
receivable, revenue stream or other right of payment, whether pursuant to the contract related thereto or otherwise, together with all
financing statements and security agreements describing any collateral securing such accounts receivable, revenue stream or other right
of payment, (c) all guaranties, letters of credit, letter-of-credit rights, supporting obligations, insurance and other agreements
or arrangements of whatever character from time to time supporting or securing payment of such accounts receivable, revenue stream or
other right of payment, whether pursuant to the contract related thereto or otherwise, (d) all service contracts and other contracts
and agreements associated with such accounts receivable, revenue stream or other right of payment, (e) all records related thereto,
and all of the applicable Accounts Receivable Subsidiary’s right, title and interest in, to and under the applicable documentation.

 

“Release”
shall have the meaning set forth in 42 U.S.C. Section 9601(22), but shall not include any “federally permitted release”
as defined in 42 U.S.C. Section 9601(10). The term “Released” shall have a corresponding meaning.

 

“Relevant Governmental
Body” shall mean (i) with respect to a Benchmark Replacement in respect of Loans denominated in Dollars, the Federal Reserve
Board and/or the NYFRB, the CME Term SOFR Administrator, as applicable, or a committee officially endorsed or convened by the Federal
Reserve Board and/or the NYFRB or, in each case, any successor thereto, and (ii) with respect to a Benchmark Replacement in respect
of Loans denominated in any other currency, (a) the central bank for the currency in which such Benchmark Replacement is denominated
or any central bank or other supervisor which is responsible for supervising either (1) such Benchmark Replacement or (2) the
administrator of such Benchmark Replacement or (b) any working group or committee officially endorsed or convened by (1) the
central bank for the currency in which such Benchmark Replacement is denominated, (2) any central bank or other supervisor that
is responsible for supervising either (A) such Benchmark Replacement or (B) the administrator of such Benchmark Replacement,
(3) a group of those central banks or other supervisors or (4) the Financial Stability Board or any part thereof.

 

“Relevant Rate”
shall mean (i) with respect to any Term Benchmark Borrowing, the Adjusted Term SOFR Rate, (ii) with respect to any RFR Borrowing,
the Adjusted Daily Simple SOFR, and (iii) with respect to any Borrowing of CDOR Loans, the CDOR Rate, as applicable.

 

“Rent Expense”
shall mean the consolidated real property rent expense of the Parent and its Subsidiaries, as determined in accordance with GAAP, it
being understood that (i) common area maintenance charges, any other contingent rent and any other non-rent charges (including property
taxes and insurance obligations) and (ii) rent expense payable under leases that are treated as Capital Lease Obligations, shall
in each case be excluded from the calculation of Rent Expense.

 

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“Resolution Authority”
shall mean an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

 

“Restricted Payment”
shall mean dividends (in cash, property or obligations) on, or other payments or distributions on account of, or the setting apart of
money for a sinking or other analogous fund for the purchase, redemption, retirement or other acquisition of, any shares of any class
of Capital Stock of the Parent, or any payment in respect of any option or warrant to purchase any shares of any class of Capital Stock
of the Parent or the exchange or conversion of any shares of any class of Capital Stock of the Parent for or into any obligations of
or shares of any other class of Capital Stock of the Parent or any other property, but excluding dividends payable solely in, or exchanges
or conversions for or into, shares of common stock of the Parent.

 

“Revolving Commitments”
shall mean the 2022 Revolving Commitments, any Incremental Revolving Commitments, any Extension Revolving Commitments and any Refinancing
Revolving Commitments.

 

“Revolving Facility”
shall mean the 2022 Revolving Commitments and the 2022 Revolving Loans, any Incremental Revolving Facility, any Extension Revolving Commitments
(and the loans thereunder) and any Refinancing Revolving Commitments (and the loans thereunder).

 

“Revolving Lenders”
shall mean any Lender that has a Revolving Commitment.

 

“Revolving Loans”
shall mean the 2022 Revolving Loans and any other Loans made in respect of the Revolving Commitments.

 

“RFR Borrowing”
shall mean, as to any Borrowing, the RFR Loans comprising such Borrowing.

 

“RFR Loan”
shall mean a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

 

“Sanctioned Country”
shall mean, at any time, a country, region or territory which is itself the subject or target of any Sanctions (at the time of this Agreement,
the Crimea Region of Ukraine, the Donetsk People’s Republic, the Luhansk People’s Republic, Cuba, Iran, North Korea
and Syria).

 

“Sanctioned Person”
shall mean, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign
Assets Control of the U.S. Department of the Treasury or the U.S. Department of State or by the United Nations Security Council, the
European Union, Canada, Her Majesty’s Treasury of the United Kingdom or any European Union member state, (b) any Person operating,
organized or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons described in the
foregoing clauses (a) or (b).

 

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“Sanctions”
shall mean, economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S.
government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department
of State or (b) the United Nations Security Council, the European Union, any European Union member state, Canada or Her Majesty’s
Treasury of the United Kingdom.

 

“Scheduled Amortization”
shall mean, for any period, the sum (calculated without duplication) of all scheduled payments of principal of Indebtedness (other than
any Indebtedness hereunder) of the Parent and its Subsidiaries (excluding, for the avoidance of doubt, any balloon, bullet or similar
principal payment which repays or refinances such Indebtedness in full) made during such period; provided that any reduction in
amortization as a result of optional prepayments shall be disregarded for purposes of calculating Fixed Charges.

 

“Secured Debt”
shall mean, with respect to a Person as of any given date, the aggregate principal amount of all Funded Indebtedness of such Person outstanding
on such date that is secured in any manner by any Lien on any property of such Person.

 

“Securitization
Repurchase Obligation” means any obligation of a seller (or any guaranty of such obligation) of assets subject to an Accounts
Receivable Facility to repurchase such assets arising as a result of a breach of a representation, warranty or covenant or otherwise,
including, without limitation, as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset
or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to such seller.

 

“Security Documents”
shall mean, collectively, the Company Pledge Agreement, the Canadian Borrower Pledge Agreement, the Parent Pledge Agreement, the Subsidiary
Pledge Agreement and all Uniform Commercial Code or applicable Canadian PPSA financing statements and similar items required by said
agreements to be filed with respect to the security interests in personal property created pursuant thereto.

 

“Seller Indebtedness”
shall mean Indebtedness incurred after the A&R Closing Date and payable to sellers in connection with Permitted Acquisitions that
by its terms is subordinated to the payment of the principal of and interest on the Loans and Reimbursement Obligations.

 

“Significant Subsidiary”
shall mean, at any time of determination, any (a) Obligor or (b) any other Subsidiary of the Parent that, on a consolidated
basis with its Subsidiaries, has aggregate assets or aggregate revenues greater than 5% of the aggregate assets or aggregate revenues
of the Parent and its Subsidiaries, taken as a whole, at such time.

 

“SOFR”
shall mean a rate equal to the secured overnight financing rate as administered by the SOFR Administrator.

 

“SOFR Administrator”
shall mean the NYFRB (or a successor administrator of the secured overnight financing rate).

 

“SOFR Administrator’s
Website” shall mean the NYFRB’s website, currently at http://www.newyorkfed.org, or any successor source for the secured
overnight financing rate identified as such by the SOFR Administrator from time to time.

 

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“SOFR Determination
Date” shall have the meaning assigned to such term in the definition of “Daily Simple SOFR”.

 

“SOFR Rate Day”
shall have the meaning assigned to such term in the definition of “Daily Simple SOFR”.

 

“SPE”
shall mean (x) each Accounts Receivable Subsidiary and (y) each special purpose entity formed by the Parent or any Subsidiary
for the purposes of engaging in, and whose sole business is to conduct a Permitted Mortgage Financing. On the A&R Closing Date, the
only SPEs are Iron Mountain Receivables QRS, LLC, Iron Mountain Receivables TRS, LLC, Iron Mountain Mortgage Finance Holdings,
LLC and Iron Mountain Mortgage Finance I, LLC.

 

“Specified Time”
shall mean (a) with respect to any Type of Loan other than CDOR Loans, 11:00 a.m., London time and (b) with respect to CDOR
Loans, 10:15 A.M., Toronto time.

 

“Specified Transaction”
shall mean any of the following transactions or initiatives: (a) any Investment that results in a Person becoming a Subsidiary,
(b) (i) any Permitted Acquisition having an Acquisition Consideration of more than $1,000,000 or (ii) any other acquisition
of the stock or other equity interests of a Person whose assets consist or will consist of data centers or data storage facilities for
use in connection with the records and information management services, data management services or data center services business or
activities of the Parent and its Subsidiaries (regardless of whether such Person is or becomes a Subsidiary after giving effect thereto),
(c) any sale, transfer or disposition outside the ordinary course of business involving the sale, transfer or disposition of assets
with an aggregate book value in excess of $1,000,000, (d) any designation of a Subsidiary that results in a Subsidiary ceasing to
be a Subsidiary or any re-designation of an Unrestricted Subsidiary that results in an Unrestricted Subsidiary becoming a Subsidiary,
(e) any acquisition or Investment constituting an acquisition of assets or equity constituting a business unit, line of business
or division of another Person and (f) any operating improvement, restructuring, cost savings initiative or any similar initiative.

 

“Standard Securitization
Undertakings” shall mean representations, warranties, covenants and indemnities entered into by the Parent or any Subsidiary
of the Parent which the Parent has determined in good faith to be customary in an Accounts Receivable Financing, including, without limitation,
those relating to the servicing of the assets of an Accounts Receivable Subsidiary, it being understood that any Securitization Repurchase
Obligation shall be deemed to be a Standard Securitization Undertaking.

 

“Stock Consideration”
shall mean, with respect to any Acquisition, the aggregate amount of consideration paid by the Parent and its Subsidiaries in connection
therewith consisting of the Parent’s common stock or proceeds of the issuance of the Parent’s common stock in the case of
an Acquisition within twelve months prior to the date of such Acquisition. For purposes hereof, the amount of Stock Consideration paid
by the Parent in respect of any Acquisition where the Stock Consideration consists of the Parent’s common stock shall be deemed
to be equal to the fair market value of the Parent’s respective common stock so paid, determined in good faith by the Parent at
the time of such Acquisition.

 

“Stock Repurchases”
shall have the meaning assigned to such term in Section 9.15.

 

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“Subordinated Indebtedness”
shall mean, (a) Funded Indebtedness of the Parent or any of its Subsidiaries that is expressly contractually subordinated in right
of payment to the 2022 Revolving Loans, the 2022 Term A Loans and the Existing Term B Loans and (b) Seller Indebtedness.

 

“Subsidiary”
shall mean, with respect to any Person, any corporation, partnership, limited liability company or other entity of which at least a majority
of the securities or other ownership interests having by the terms thereof ordinary voting power to elect a majority of the board of
directors or other persons performing similar functions of such corporation, partnership, limited liability company or other entity (irrespective
of whether or not at the time securities or other ownership interests of any other class or classes of such corporation, partnership,
limited liability company or other entity shall have or might have voting power by reason of the happening of any contingency) is at
the time directly or indirectly owned or controlled by such Person or one or more Subsidiaries of such Person or by such Person and one
or more Subsidiaries of such Person. Unrestricted Subsidiaries shall not be a “Subsidiary” or “Subsidiaries”
of the Parent for the purposes of this Agreement.

 

“Subsidiary Guarantor”
shall mean (i) as of the A&R Closing Date, each of the subsidiaries of the Parent identified as a Subsidiary Guarantor in Part 1
of Schedule II hereto and (ii) each other subsidiary of the Parent (other than any Excluded Subsidiary) that from time to time is
required to become a party to the Subsidiary Guaranty pursuant to Section 9.21 or otherwise guarantees the Obligations hereunder,
in each case, until such time as the relevant subsidiary is released from its obligations under the Subsidiary Guaranty in accordance
with the terms and provisions hereof.

 

“Subsidiary Guaranty”
shall mean the amended and restated subsidiary guaranty, dated as of the A&R Closing Date, among the Subsidiary Guarantors and the
Administrative Agent, as said agreement shall be modified and supplemented and in effect from time to time and pursuant to which the
Subsidiary Guarantors guarantee the Obligations under the Basic Documents, any Hedging Agreements and any Cash Management Agreements
with any Lender or any Affiliate thereof, in substantially the form of Exhibit F hereto.

 

“Subsidiary Pledge
Agreement” shall mean the amended and restated pledge agreement, dated as of the A&R Closing Date, to which the Subsidiary
Guarantors and the Administrative Agent are parties, as the same shall be modified and supplemented and in effect from time to time,
in substantially the form of Exhibit G hereto.

 

“Synthetic Lease”
shall mean a lease of property or assets designed to permit the lessee (i) to claim depreciation on such property or assets under
U.S. tax law and (ii) to treat such lease as an operating lease or not to reflect the leased property or assets on the lessee’s
balance sheet under GAAP.

 

“Synthetic Lease
Obligations” shall mean, with respect to any Synthetic Lease, at any time, an amount equal to the higher of (x) the aggregate
termination value or purchase price or similar payments in the nature of principal payable thereunder and (y) the then aggregate
outstanding principal amount of the notes or other instruments issued by, and the amount of the equity investment, if any, in, the lessor
under such Synthetic Lease.

 

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

 

“Term B Lender”
shall mean the Existing Term B Lenders any other Lender that holds any Term B Loans.

 

“Term B Loan”
shall mean (i) the Existing Term B Loans and (ii) any Incremental Term Loan which has terms that are customary market terms
for “B” term loans at the time of incurrence thereof (as determined in good faith by the Company and so designated
in the applicable Incremental Facility Amendment).

 

“Term Benchmark”
when used in reference to any Loan or Borrowing, shall refer to whether such Loan, or the Loans comprising such Borrowing, are bearing
interest at a rate determined by reference to the Adjusted Term SOFR Rate.

 

“Term Lenders”
shall mean the collective reference to the 2022 Term A Lenders, the Existing Term B Lenders and each other Lender that holds a Term Loan.

 

“Term Loans”
shall mean the collective reference to the 2022 Term A Loans, the 2022 Term B Loans, the Incremental Term Loans, the Extension Term Loans
and the Refinancing Term Loans.

 

“Term SOFR Determination
Day” shall have the meaning assigned to such term in the definition of “Term SOFR Reference Rate”.

 

“Term SOFR Rate”
shall mean, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR
Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such
tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator.

 

“Term SOFR Reference
Rate” shall mean, for any day and time (such day, the “Term SOFR Determination Day”), with respect to any
Term Benchmark Borrowing denominated in Dollars and for any tenor comparable to the applicable Interest Period, the rate per annum determined
by the Administrative Agent as the forward-looking term rate based on SOFR. If by 5:00 pm (New York City time) on such Term SOFR Determination
Day, the “Term SOFR Reference Rate” for the applicable tenor has not been published by the CME Term SOFR Administrator and
a Benchmark Replacement Date with respect to the Term SOFR Rate has not occurred, then the Term SOFR Reference Rate for such Term SOFR
Determination Day will be the Term SOFR Reference Rate as published in respect of the first preceding U.S. Government Securities Business
Day for which such Term SOFR Reference Rate was published by the CME Term SOFR Administrator, so long as such first preceding Business
Day is not more than five (5) Business Days prior to such Term SOFR Determination Day.

 

“TTM Period”
shall mean, on any date, the most recent period of four consecutive fiscal quarters of the Parent ended on or prior to such date (taken
as one accounting period) in respect of which financial statements were (or were required to be) delivered pursuant to Section 9.01(1) or
9.02(2). A TTM Period may be designated by reference to the last day thereof (i.e., the “December 31st TTM Period”
of a particular year refers to the period of four consecutive fiscal quarters of the Parent ended on December 31st of
such year), and a TTM Period shall be deemed to end on the last day thereof.

 

    45

     

    

 

“Type”
shall have the meaning assigned to such term in Section 1.03 hereof.

 

“UK Borrower”
shall mean any Borrower (i) that is organized or formed under the laws of the United Kingdom or (ii) payments from which under
this Agreement or any other Basic Document are subject to withholding Taxes imposed by the laws of the United Kingdom.

 

“UK Financial Institution”
shall mean any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United
Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated
by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates
of such credit institutions or investment firms.

 

“UK Resolution Authority”
shall mean the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial
Institution.

 

“Unadjusted
Benchmark Replacement” shall mean the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

 

“Unrestricted Subsidiary”
shall mean (i) each SPE, (ii) each subsidiary of the Parent listed on Schedule VI hereto and (iii) each other subsidiary
of the Parent that is designated by the Parent as such after the A&R Closing Date pursuant to Section 9.25, in each case, unless
and until any such subsidiary’s designation as an Unrestricted Subsidiary is removed pursuant to a Designation Removal in accordance
with Section 9.25.

 

“U.S. Government
Securities Business Day” shall mean any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which
the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the
entire day for purposes of trading in United States government securities.

 

“U.S. Tax Compliance
Certificate” shall have the meaning assigned to such term in Section 5.08(f)(ii)(II)(3).

 

“Voting Stock”
shall mean, with respect to any Person, any class or classes of Capital Stock pursuant to which the holders thereof have the general
voting power under ordinary circumstances to elect at least a majority of the board of directors, managers or trustees of such Person
(irrespective of whether or not, at the time, stock of any other class or classes has, or might have, voting power by reason of the happening
of any contingency).

 

“Weighted Average
Life to Maturity” shall mean, when applied to any Indebtedness at any date, the number of years obtained by dividing: (a) the
sum of the products obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity or
other required payments of principal, including payment at final maturity, in respect thereof, by (ii) the number of years (calculated
to the nearest one-twelfth) that will elapse between such date and the making of such payment; by (b) the then outstanding principal
amount of such Indebtedness.

 

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“Wholly-Owned Subsidiary”
shall mean as to any Person, a Subsidiary of such Person all of whose outstanding shares of Capital Stock (except directors’ qualifying
shares) are directly or indirectly owned by such Person.

 

“Withdrawal Liability”
shall mean liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms
are defined in Title IV of ERISA.

 

“Write-Down and
Conversion Powers” shall mean, (a) 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, and (b) with respect to the United Kingdom, any powers
of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any
UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into
shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect
as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In
Legislation that are related to or ancillary to any of those powers.

 

1.02.            Accounting
Terms and Determinations. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be
construed in accordance with GAAP, as in effect from time to time; provided that, if the Company notifies the Administrative Agent
that the Company requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof
in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Company that the
Majority Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before
or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect
and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision
amended in accordance herewith. Notwithstanding any other provision contained herein, (i) all terms of an accounting or financial
nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect
to any election under Financial Accounting Standards Board Accounting Standards Codification 825 (or any other Financial Accounting Standards
having similar result or effect) to value any Indebtedness or other liabilities of the Parent or any Subsidiary at “fair value”,
as defined therein and (ii) the accounting for any lease (and whether the obligations thereunder shall constitute “Capitalized
Lease Obligations”) shall be based on GAAP as in effect on the Original Closing Date and without giving effect to any subsequent
changes in GAAP (or the required implementation of any previously promulgated changes in GAAP) relating to the treatment of a lease as
an operating lease or capitalized lease.

 

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1.03.            Types
of Loans. Loans hereunder are distinguished by “Type”. The “Type” of a Loan refers to the determination of
whether such Loan is a Term Benchmark Loan, CDOR Loan, C$ Prime Loan or an ABR Loan.

 

1.04.            Currency.
Whenever any amount is to be determined for purposes of Sections 2 through 6 hereof or otherwise for the purposes of calculating any
amount outstanding under this Agreement (other than any such amount which is plainly to be determined in any Alternate Currency), such
amount shall be determined by the Administrative Agent (or, in the case of Letter of Credit Liabilities, by the applicable Issuing Bank)
in Dollars by calculating the Dollar Equivalent (rounded to the nearest unit of such Alternative Currency, with 0.5 of a unit being rounded
upward) of any portion of such amount denominated in any Alternate Currency and adding such amount to any Dollar-denominated portion
of such amount.

 

1.05.            Additional
Alternate Currencies.

 

(a)            The
Company may from time to time request that Revolving Loans be made and/or Letters of Credit be issued in a currency other than Dollars
and those specifically listed in the definition of “Alternate Currencies”; provided that such requested
currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In
the case of any such request with respect to the making of Revolving Loans in any additional Alternate Currency, such request shall be
subject to the approval of the Administrative Agent and each of the Revolving Lenders of the applicable Class; and in the case of
any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative
Agent and each applicable Issuing Bank.

 

(b)            Any
such request shall be made to the Administrative Agent not later than 11:00 a.m., fifteen (15) Business Days prior to the date of the
first desired borrowing of Loans in such additional Alternate Currency (or such other time or date as may be agreed by the Administrative
Agent and, in the case of any such request pertaining to Letters of Credit, the Issuing Banks, in its or their sole discretion). In the
case of any such request pertaining to Alternate Currency Loans, the Administrative Agent shall promptly notify each Revolving Lender
of the applicable Class thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent
shall also promptly notify each applicable Issuing Bank thereof. Each Revolving Lender of the applicable Class (in the case of any
such request pertaining to Revolving Loans) and each applicable Issuing Bank (in the case of a request pertaining to Letters of Credit)
shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it
consents, in its sole discretion, to the making of Loans, or the issuance of Letters of Credit, as the case may be, in such requested
currency.

 

(c)            Any
failure by a Revolving Lender or an Issuing Bank, as the case may be, to respond to such request within the time period specified in
the preceding sentence shall be deemed to be a refusal by such Revolving Lender or such Issuing Bank, as the case may be, to permit Loans
to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Lenders consent
to making Loans in such requested currency, the Administrative Agent shall so notify the Company and such currency shall thereupon be
deemed for all purposes to be an Alternate Currency hereunder for purposes of any borrowings of Revolving Loans of the applicable Class;
and if the Administrative Agent and each applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency,
the Administrative Agent shall so notify the Company and such currency shall thereupon be deemed for all purposes to be an Alternate
Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request
for an additional currency under this Section 1.05, the Administrative Agent shall promptly so notify the Company, and the Company
may replace such non-consenting Lender, subject to Section 12.05(b). Any specified currency of an Existing Letter of Credit that
is neither Dollars nor one of the Alternate Currencies specifically listed in the definition of “Alternate Currencies” shall
be deemed an Alternate Currency with respect to such Existing Letter of Credit only.

 

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1.06.            Basket
Compliance and Limited Conditionality Provisions.

 

(a)            Notwithstanding
anything in this Agreement or any Basic Document to the contrary,

 

(i)            the
Parent and its Subsidiaries may rely on more than one basket or exception with respect to any covenant hereunder (including both ratio-based
and non-ratio based baskets and exceptions to such covenant, and including partial reliance on different baskets in respect of such covenant
that, collectively, permit the entire proposed transaction) at the time of any proposed transaction, and the Parent and its Subsidiaries
may, in the Parent’s sole discretion, at any later time divide, classify or reclassify such transaction (or any portion thereof)
in any manner that complies with the available baskets and exceptions with respect to such covenant hereunder at such later time;

 

(ii)            unless
the Parent elects otherwise, if, the Parent or any of its Subsidiaries, in connection with any transaction or series of such related
transaction (A) incurs Indebtedness, creates Liens, makes dispositions, makes Investments, designates any Subsidiary as restricted
or unrestricted or repays any Indebtedness or takes any other action under or as permitted by a ratio-based basket and (B) incurs
Indebtedness, creates Liens, makes dispositions, makes Investments, designates any Subsidiary as restricted or unrestricted or repays
any Indebtedness or takes any other action under a non-ratio-based basket (in each case, which shall occur substantially simultaneously
with the events in clause (A) above), then the applicable ratio will be calculated with respect to any such action under the applicable
ratio-based basket without regard to any such substantially simultaneous action under such non-ratio-based basket made in connection
with such transaction or series of related transactions;

 

(iii)            if
the Parent or any of its Subsidiaries enters into any revolving, delayed draw or other committed debt facility, the Parent may elect
to determine compliance of such debt facility (including the incurrence of Indebtedness and Liens from time to time in connection therewith)
with this Agreement and each other Basic Document on the date commitments with respect thereto are first received, assuming the full
amount of such facility is incurred (and any applicable Liens are granted) on such date, in which case such committed amount may thereafter
be borrowed or reborrowed, in whole or in part, from time to time, without further compliance with such applicable ratio-based basket
hereunder, in lieu of determining such compliance on any subsequent date (including any date on which Indebtedness is incurred pursuant
to such facility); provided that (A) in each case, for as long as such election is in effect (and except in the case of a
revolving facility) any future calculation of such ratio-based basket shall only include amounts borrowed and outstanding as of such
date of determination and (B) in the case of any committed facility with a delayed draw feature, at the Parent’s election
commitments in respect thereof may be obtained prior to the Parent’s ability to incur such Indebtedness in accordance with the
terms of this Agreement as long as such Indebtedness is permitted to be incurred in accordance with the terms of this Agreement on the
date such delayed draw commitments are funded (and only to the extent so funded);

 

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(iv)            if
the Parent or any Subsidiary incurs Indebtedness under a ratio-based basket, such ratio-based basket (together with any other ratio-based
basket utilized in connection therewith) will be calculated excluding the cash proceeds of such Indebtedness for netting purposes, provided
that the actual application of such proceeds to reduce Indebtedness may be included for purposes of determining compliance with any
such applicable ratio-based basket; and

 

(v)            without
prejudice to subclause (i) above, if the Parent or any Subsidiary relies in full or in part on a non-ratio based basket or exception
in connection with any proposed transaction, all or any portion of which transaction subsequently is eligible to be reclassified as having
been incurred pursuant to a ratio-based basket or exception, then such amounts originally permitted under the non-ratio-based basket
or exception shall automatically be reclassified as having been incurred pursuant to a ratio-based basket or exception to the maximum
extent then permitted under such ratio-based basket or exception without the Parent needing to make any election, give any notice or
take any action to effect such reclassification.

 

(b)            Notwithstanding
anything in this Agreement or any Basic Document to the contrary, to the extent that the terms of this Agreement require (i) pro
forma compliance with any financial ratio or test (including, without limitation, pro forma compliance with the Financial Covenants,
any First Lien Net Secured Leverage Ratio test or any Net Secured Leverage Ratio test, any Net Total Lease Adjusted Leverage Ratio test
or any Fixed Charges Coverage Ratio test) and/or any cap expressed as a percentage of EBITDA or consolidated total assets, (ii) the
absence of a Default or Event of Default (or any type of Default or Event of Default), (iii) the making or accuracy of any representation
and/or warranty or (iv) compliance with availability under any basket (including any basket expressed as a percentage of EBITDA),
in each case, as a condition to (A) the consummation of any transaction (including the assumption or incurrence of Indebtedness
other than the incurrence or issuance of any Loan or Letter of Credit under any existing Revolving Facility) in connection with any acquisition
or similar Investment the consummation of which is not conditioned on the availability of, or on obtaining, third party financing, (B) the
making of any Restricted Payment requiring irrevocable notice or declaration in advance thereof, (C) the making of any payments
of Subordinated Indebtedness requiring irrevocable notice or declaration in advance thereof and/or (D) the making of any disposition
(the transactions described in the foregoing clauses (A) through (D), “Limited Conditionality Transactions”),
the determination of whether the relevant condition is satisfied may be made, at the election of the Parent:

 

(i)            in
the case of any acquisition or similar Investment (including with respect to any Indebtedness contemplated, assumed or incurred in connection
therewith), at the time of (or on the basis of the financial statements for the most recently ended four fiscal quarter period for which
financial statements were (or were required to be) delivered pursuant to Section 9.01(1) or 9.01(2) at the time of) any
of (x) the execution of the definitive agreement with respect to such acquisition or Investment, (y) in connection with an
acquisition to which the United Kingdom City Code on Takeover and Mergers (or any comparable requirement of law) applies, the date on
which a “Rule 2.7 announcement” of a firm intention to make an offer in respect of the target of an acquisition
(or equivalent notice under comparable law) or (z) the consummation of such acquisition or Investment,

 

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(ii)            in
the case of any Restricted Payment (including with respect to any Indebtedness contemplated or incurred in connection therewith), at
the time of (or on the basis of the financial statements for the most recently ended four fiscal quarter period for which financial statements
were (or were required to be) delivered pursuant to Section 9.01(1) or 9.01(2) at the time of) either (x) the irrevocable
declaration of such Restricted Payment or (y) the making of such Restricted Payment,

 

(iii)            in
the case of any payment of Subordinated Indebtedness (including with respect to any Indebtedness contemplated or incurred in connection
therewith), at the time of (or on the basis of the financial statements for the most recently ended four fiscal quarter period for which
financial statements were (or were required to be) delivered pursuant to Section 9.01(1) or 9.01(2) at the time of) either
(x) delivery of irrevocable (which may be conditional) notice with respect to such payment of Subordinated Indebtedness or (y) the
making of such Subordinated Indebtedness, and

 

(iv)            in
the case of any disposition (including with respect to any repayment of Indebtedness contemplated or made in connection therewith), at
the time of (or on the basis of the financial statements for the most recently ended four fiscal quarter period for which financial statements
were (or were required to be) delivered pursuant to Section 9.01(1) or 9.01(2) at the time of) any of (x) the execution
of the definitive agreement with respect to such disposition, (y) in connection with a disposition to which the United Kingdom City
Code or Takeover and Mergers (or any comparable law) applies, the date on which a “Rule 2.7 announcement” of a firm
intention to make an offer in respect of the target (or equivalent notice under comparable law) or (z) the consummation of such
disposition,

 

in each case, after giving effect,
on a pro forma basis, to (I) the Limited Conditionality Transaction and/or any related incurrence and/or repayment of Indebtedness
(including the intended use of proceeds thereof) and (II) to the extent definitive documents in respect thereof have been executed,
the Restricted Payment has been declared or delivery of notice with respect to a payment of subordinated Indebtedness has been given
(which definitive documents, declaration or notice has not terminated or expired without the consummation thereof), as applicable, any
other transaction to be entered into in connection with such Limited Conditionality Transaction that the Parent has elected to treat
in accordance with this Section 1.06(b); provided that if the Parent has made such any such election, in connection with the calculation
of any basket, financial ratio or test and/or cap expressed as a percentage of EBITDA or consolidated total assets under this Agreement
on or following the date of such election and prior to the earlier of the date on which such Limited Conditionality Transaction is consummated
or the definitive agreement for such Limited Conditionality Transaction (or, if applicable, the notice or declaration of such Limited
Conditionality Transaction) is terminated, any such basket, financial ratio or test and/or cap shall be calculated on a pro forma basis
assuming such Limited Conditionality Transactions and other transactions in connection therewith (including any incurrence of Indebtedness
and the use of proceeds thereof) have been consummated, except to the extent that such calculation would result in a lower First Lien
Net Secured Leverage Ratio, Net Secured Leverage Ratio or Net Total Lease Adjusted Leverage Ratio or a higher Fixed Charges Coverage
Ratio or larger basket or cap, as applicable, than would apply if such calculation was made without giving pro forma effect to such Limited
Conditionality Transaction and the other transactions to be entered into in connection therewith (including any incurrence of Indebtedness
and the use of proceeds thereof).

 

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The provisions in this Section 1.06(b) shall
be referred to as the “Limited Conditionality Provisions” for the purposes of this Agreement.

 

1.07.            Sustainability
Adjustments. The Parent, in consultation with the Administrative Agent, shall be entitled to establish specified key performance
indicators (“KPIs”) with respect to certain environmental, social and governance (“ESG”) targets
of the Parent and its Subsidiaries. The Administrative Agent and the Borrowers may amend this Agreement (such amendment, the “ESG
Amendment”) with respect to one or more Class of Loans and/or Commitments solely for the purpose of incorporating the
KPIs and other related provisions (the “ESG Pricing Provisions”) into this Agreement, and any such amendment shall
become effective at 5:00 p.m., New York City time, on the tenth Business Day after the Administrative Agent shall have posted such proposed
amendment to all Lenders of the applicable Class and the Borrowers unless, prior to such time, Lenders comprising the Majority Lenders
of any applicable Class have delivered to the Administrative Agent (who shall promptly notify the Parent) written notice that such
Majority Lenders object to such ESG Amendment. In the event that the Majority Lenders of any Class deliver a written notice objecting
to any such ESG Amendment, an alternative ESG Amendment applicable to such Class of Loans may be effectuated with the consent of
the Majority Lenders of such Class, the Parent and the Administrative Agent. Upon the effectiveness of any such ESG Amendment, based
on the Parent’s and/or its Subsidiaries’ performance against the KPIs, certain adjustments (increase, decrease or no adjustment)
to the otherwise applicable Applicable Commitment Fee Rate and/or Applicable Margin for such Class of Loans and Commitments will
be made; provided that the amount of such adjustments shall not exceed (i) in the case of the Applicable Commitment Fee Rate,
an increase and/or decrease of 0.05% and (ii) in the case of the Applicable Margin, an increase and/or decrease of 0.05%, provided
that in no event shall the Applicable Margin be less than zero. The pricing adjustments pursuant to the KPIs will require, among other
things, reporting and validation of the measurement of the KPIs in a manner that is agreed between the Parent and the Administrative
Agent (each acting reasonably).

 

Following the effectiveness
of the ESG Amendment:

 

(i)            any
modification to the ESG Pricing Provisions which has the effect of (x) reducing the Applicable Margin and/or the Applicable Commitment
Fee Rate to a level not otherwise permitted by this Section 1.07 shall (in each case) be subject to the consent of all Lenders;
and

 

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(ii)            any
other modification to the ESG Pricing Provisions (other than as provided for in clause (i) above) shall be subject only to the consent
of the Majority Lenders.

 

Notwithstanding anything
to the contrary in this Section 1.07, no ESG Amendment shall be effective as to any Existing Term B Loans, and no decrease to the
Applicable Margin applicable to the Existing Term B Loans may be effected, in each case, without the consent of each affected Existing
Term B Lender.

 

1.08.            Interest
Rates; Benchmark Notification. The interest rate on a Loan denominated in Dollars or an Alternate Currency may be derived from an
interest rate benchmark that may be discontinued or is, or may in the future become, the subject of regulatory reform. Upon the occurrence
of a Benchmark Transition Event, Section 6.02(b) provides a mechanism for determining an alternative rate of interest. The
Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration,
submission, performance or any other matter related to any interest rate used in this Agreement, or with respect to any alternative or
successor rate thereto, or replacement rate thereof, including without limitation, whether the composition or characteristics of any
such alternative, successor or replacement reference rate will be similar to, or produce the same value or economic equivalence of, the
existing interest rate being replaced or have the same volume or liquidity as did any existing interest rate prior to its discontinuance
or unavailability. The Administrative Agent and its affiliates and/or other related entities may engage in transactions that affect the
calculation of any interest rate used in this Agreement or any alternative, successor or alternative rate (including any Benchmark Replacement)
and/or any relevant adjustments thereto, in each case, in a manner adverse to the Borrowers. The Administrative Agent may select information
sources or services in its reasonable discretion to ascertain any interest rate used in this Agreement, any component thereof, or rates
referenced in the definition thereof, in each case pursuant to the terms of this Agreement, and shall have no liability to any Borrower
or other Obligor, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive,
incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity),
for any error or calculation of any such rate (or component thereof) provided by any such information source or service.

 

Section 2.
Loans, Etc.

 

2.01.            Revolving
Loans; Term Loans; Incremental Loans.

 

(a)            2022
Term A Loans. Subject to the terms and conditions of this Agreement and the Amendment and Restatement Agreement, each 2022 Term A
Lender severally agrees to make loans (the “2022 Term A Loans”) to the Company in a single drawing in Dollars on the
A&R Closing Date in an aggregate principal amount not to exceed its 2022 Term A Commitment. 2022 Term A Loans that are repaid or
prepaid may not be re-borrowed. Notwithstanding anything to the contrary herein, (i) the first Interest Period in respect of the
2022 Term A Borrowings made on the A&R Closing Date shall end on March 31, 2022 and (ii) the Adjusted Term SOFR Rate applicable
thereto for such first Interest Period ending on March 31, 2022 shall be determined by the Administrative Agent (which determination
shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between
Adjusted Term SOFR Rate for an Interest Period of one month and the Adjusted Daily Simple SOFR Rate, in each case, at such time.

 

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(b)            2022
Revolving Loans. Subject to the terms and conditions of this Agreement and the Amendment and Restatement Agreement, each 2022 Revolving
Lender severally agrees to make loans (the “2022 Revolving Loans”) to each Borrower at any time and from time to time
on during the period commencing (and including) the A&R Closing Date until the earlier of (x) the 2022 Revolving Loan Maturity
Date and (y) the date the 2022 Revolving Commitments are terminated in accordance with this Agreement, in Dollars and each Alternate
Currency; provided that, (A) no 2022 Revolving Lender shall be required to make any 2022 Revolving Loans at any time if (x) the
amount of the aggregate principal amount of 2022 Revolving Loans made by such 2022 Revolving Lender exceeds such 2022 Revolving Lender’s
2022 Revolving Commitment, (y) the sum of (1) the aggregate principal amount of all 2022 Revolving Loans made by such Lender
and (2) the aggregate amount of all Letter of Credit Liabilities outstanding of such Lender exceed the such 2022 Revolving Lender’s
2022 Revolving Commitment or (z) the sum of (1) the aggregate principal amount of all 2022 Revolving Loans outstanding and
(2) the aggregate amount of all Letter of Credit Liabilities outstanding at such time exceed the aggregate 2022 Revolving Commitments
of all 2022 Revolving Lenders and (B) C$ Prime Loans shall only be made to the Canadian Borrowers. Within the foregoing limits and
subject to the terms, conditions and limitations set forth herein, each applicable Borrower may borrow, pay or prepay and reborrow 2022
Revolving Loans.

 

(c)            Existing
Term B Loans. On March 22, 2018, the Existing Term B Lenders made Term B Loans (the “Existing Term B Loans”)
to the Company in a single drawing in Dollars on such date. The aggregate principal amount of Existing Term B Loans outstanding on the
A&R Closing Date is $673,750,000. Existing Term B Loans that are repaid or prepaid may not be re-borrowed.

 

(d)            Incremental
Facilities.

 

(i)            One
or more Borrowers (or Subsidiary Guarantors that will become Borrowers) may, at any time, on one or more occasions pursuant to an Incremental
Facility Amendment (i) add one or more new Classes of term facilities and/or increase the principal amount of the Term Loans of
any existing Class by requesting new term loan commitments to be added to such Loans (any such new Class or increase, an “Incremental
Term Facility” and any loans made pursuant to an Incremental Term Facility, “Incremental Term Loans”) and/or
(ii) add one or more new Classes of revolving commitments and/or increase the aggregate amount of the Revolving Commitments of any
existing Class (any such new Class or increase, an “Incremental Revolving Facility” and, together with any
Incremental Term Facility, “Incremental Facilities”, or either or any thereof, an “Incremental Facility”;
and the loans thereunder, “Incremental Revolving Loans” and, together with any Incremental Term Loans, “Incremental
Loans”) in an aggregate outstanding principal amount as of such date of determination not to exceed the Incremental Cap; provided
that:

 

(I)            no
Incremental Commitment in respect of any Incremental Facility may be in an amount that is less than $5,000,000 (or such lesser amount
to which the Administrative Agent may reasonably agree),

 

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(II)            except
as separately agreed from time to time between a Borrower and any Lender, no Lender shall be obligated to provide any Incremental Commitment,
and the determination to provide such commitments shall be within the sole and absolute discretion of such Lender (it being agreed that
no Borrower shall be obligated to offer the opportunity to any Lender to participate in any Incremental Facility),

 

(III)            no
Incremental Facility or Incremental Loan (nor the creation, provision or implementation thereof) shall require the approval of any existing
Lender other than in its capacity, if any, as a lender providing all or part of such Incremental Facility or Incremental Loan,

 

(IV)            any
such Incremental Revolving Facility shall either (x) be subject to the same terms and conditions as any then-existing Revolving
Facility (and be deemed added to, and made a part of, such Revolving Facility) (it being understood that, if required to consummate an
Incremental Revolving Facility, the Parent may increase the pricing, interest rate margins, rate floors and undrawn fees on the applicable
Revolving Facility being increased for all lenders under such Revolving Facility, but additional upfront or similar fees may be payable
to the lenders participating in such Incremental Revolving Facility without any requirement to pay such amounts to any existing Revolving
Lenders) or (y) mature no earlier than, and require no scheduled mandatory commitment reduction prior to, the 2022 Revolving Loan
Maturity Date and all other terms (other than, subject to the requirements of this clause (y), maturity, pricing, upfront, arrangement,
structuring, underwriting, ticking, consent, amendment and other fees and other immaterial terms, which shall be determined by the Company)
shall be (1) substantially consistent with the 2022 Revolving Loans or (2) otherwise reasonably acceptable the Administrative
Agent (it being understood that if any financial maintenance covenant or other more favorable provision is added for the benefit of any
Incremental Revolving Facility, no consent shall be required from the Administrative Agent or any Lender to the extent that such financial
maintenance covenant or other provision is also added for the benefit of any then-existing Revolving Facility or only applicable after
the applicable Latest Maturity Date applicable to any Class of Revolving Loans hereunder),

 

(V)            the
pricing, interest rate margins, rate floors, undrawn fees and other fees (and the components thereof) applicable to any Incremental Facility
may be determined by the Company and the lender or lenders providing such Incremental Facility,

 

(VI)            the
final maturity date with respect to (x) any Incremental Term Loans that are not Term B Loans shall be no earlier than the 2022 Term
A Loan Maturity Date at the time of the incurrence thereof and (y) any Incremental Term Loans that are Term B Loans shall be no
earlier than the Latest Maturity Date applicable at the time of the incurrence thereof; provided, that the foregoing limitation
shall not apply to (1) customary bridge loans with a maturity date not longer than one year which, subject to customary conditions,
would either be automatically converted into or required to be exchanged for permanent financing which otherwise complies with this clause
(VI), or (2) Indebtedness in an aggregate principal amount not to exceed the Inside Maturity Amount,

 

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(VII)            the
Weighted Average Life to Maturity of (x) any Incremental Term Facility that does not consist of Term B Loans shall be no shorter
than the remaining Weighted Average Life to Maturity of the 2022 Term A Loans at the time of incurrence thereof and (y) any Incremental
Term Facility that consists of Term B Loans shall be no shorter than the remaining Weighted Average Life to Maturity of any outstanding
Class of Term Loans at the time of incurrence thereof; provided, that the foregoing limitation shall not apply to (1) customary
bridge loans with a maturity date of not longer than one year which, subject to customary conditions, would either be automatically converted
into or required to be exchanged for permanent financing which otherwise complies with this clause (VII), or (2) Indebtedness in
an aggregate principal amount not to exceed the Inside Maturity Amount,

 

(VIII)            subject
to clauses (VI) and (VII) above, any Incremental Term Facility may otherwise have an amortization schedule as determined by
the Company and the lenders providing such Incremental Term Facility,

 

(IX)            (1) each
Incremental Facility may, at the option of the Company, rank pari passu with or junior to the 2022 Term A Loans, the 2022 Revolving Loans
and the Existing Term B Loans in each case in right of payment; (2) each Incremental Facility, at the option of the Company, may
be unsecured or secured by Liens on the Collateral that rank pari passu with or junior to the Liens on the Collateral securing the 2022
Term A Loans, the 2022 Revolving Loans and the Existing Term B Loans; provided that, to the extent any Incremental Facility is
secured by junior Liens on the Collateral, such Incremental Facility shall be documented in documentation other than the Credit Agreement
and the other Basic Documents governing the 2022 Term A Loans, the 2022 Revolving Loans and the Existing Term B Loans and the lenders
providing such Incremental Facility shall be subject to an intercreditor agreement on terms and conditions reasonably satisfactory to
the Company and the Administrative Agent; and (3) no Incremental Facility may be (x) guaranteed by any Person which is not
an Obligor or (y) secured by Liens on any assets other than the Collateral;

 

(X)            any
Incremental Term Facility may provide for the ability to participate (1) on a pro rata basis or non-pro rata basis in any voluntary
prepayment of Term Loans made pursuant to Section 3.02(a) and (2) on a pro rata or less than pro rata basis (but not on
a greater than pro rata basis, other than in the case of prepayment with proceeds of Indebtedness refinancing such Incremental Term Loans)
in any mandatory prepayment of Term Loans required pursuant to Section 3.02(b) or (c),

 

(XI)            subject
in all cases to the Limited Conditionality Provisions, no Event of Default under Section 10.01(1), (6) or (7) shall exist
immediately prior to or after giving effect to the effectiveness of such Incremental Facility,

 

(XII)            no
Incremental Term Facility shall contain covenants or events of default that, taken as a whole, are materially more restrictive on the
Parent and its Subsidiaries or are more favorable to the lenders in respect of such Incremental Term Facility prior to the Latest Maturity
Date than the covenants applicable to Term Loans in the Basic Documents, unless the Administrative Agent shall so consent (it being understood
that if any covenant or event of default is added for the benefit of any Incremental Term Facility, no consent shall be required from
the Administrative Agent or any Lender to the extent that such covenant or event of default is also added for the benefit of any then-existing
Term Facility);

 

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(XIII)            except
as otherwise required or permitted in Section 2.01(d)(i), all terms of any Incremental Term Facility shall be as agreed between
the Company and the lenders providing such Incremental Term Facility, and

 

(XIV)            on
the date of the making of any Incremental Term Loans that will be added to any Class of then existing Term Loans, and notwithstanding
anything to the contrary in this Agreement, such Incremental Term Loans shall be added to (and constitute a part of, be of the same Type
as and, at the election of the Company, have the same Interest Period as) each borrowing of outstanding Term Loans of such Class on
a pro rata basis (based on the relative sizes of such borrowings), so that each Term Lender providing such Incremental Term Loans will
participate proportionately in each then-outstanding Borrowing of Term Loans of such Class; it being acknowledged that the application
of this clause may result in new Incremental Term Loans having Interest Periods (the duration of which may be less than one month) that
begin during an Interest Period then applicable to outstanding Term Benchmark Loans or CDOR Loans of the relevant Class and which
end on the last day of such Interest Period.

 

(ii)            Incremental
Commitments may be provided by any existing Lender or by any other bank, financial institution or other Person (such other bank, financial
institution or other Person, an “Additional Lender”); provided that the Administrative Agent (and, in the case
of any Incremental Revolving Facility, each Issuing Bank) shall have consented (such consent not to be unreasonably withheld, conditioned
or delayed) to the relevant Additional Lender’s provision of Incremental Commitments if such consent would be required under Section 12.06(b) for
an assignment of Loans to such Additional Lender.

 

(iii)            Each
Lender or Additional Lender providing a portion of any Incremental Commitment shall execute and deliver to the Administrative Agent and
the Parent all such documentation (including the relevant Incremental Facility Amendment) as may be reasonably required by the Administrative
Agent to evidence and effectuate such Incremental Commitment. On the effective date of such Incremental Commitment, each Additional Lender
shall become a Lender for all purposes in connection with this Agreement.

 

(iv)            As
a condition precedent to the effectiveness of any Incremental Facility or the making of any Incremental Loans, (1) upon its request,
the Administrative Agent shall have received customary written opinions of counsel, as well as such reaffirmation agreements, supplements
and/or amendments as it shall reasonably require, (2) the Administrative Agent shall have received from each Additional Lender an
administrative questionnaire in the form provided to such Additional Lender by the Administrative Agent (the “Administrative
Questionnaire”) and such other documents as it shall reasonably require from such Additional Lender and (3) the Administrative
Agent and applicable Additional Lenders shall have received all fees required to be paid in respect of such Incremental Facility or Incremental
Loans.

 

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(v)            Upon
the implementation of any Incremental Revolving Facility pursuant to this Section 2.01(d):

 

(I)            if
such Incremental Revolving Facility establishes Revolving Commitments of the same Class as any then-existing Class of Revolving
Commitments, (1) each Revolving Lender immediately prior to such increase will automatically and without further act be deemed to
have assigned to each relevant lender under the Incremental Facility, and each such relevant lender will automatically and without further
act be deemed to have assumed a portion of such Revolving Lender’s participations hereunder in outstanding Letters of Credit such
that, after giving effect to each deemed assignment and assumption of participations, all of the Revolving Lenders of such Class hold participations
hereunder in Letters of Credit shall be held on a pro rata basis on the basis of their respective Revolving Commitments (after giving
effect to any increase in the Revolving Commitment pursuant to this Section 2.01(d)) and (ii) the existing Revolving Lenders
of the applicable Class shall assign Revolving Loans to certain other Revolving Lenders of such Class (including the Revolving
Lenders providing the relevant Incremental Revolving Facility), and such other Revolving Lenders (including the Revolving Lenders providing
the relevant Incremental Revolving Facility) shall purchase such Revolving Loans, in each case to the extent necessary so that all of
the Revolving Lenders of such Class participate in each outstanding borrowing of Revolving Loans pro rata on the basis of their
respective Revolving Commitments of such Class (after giving effect to any increase in the Revolving Commitment pursuant to this
Section 2.01(d)); it being understood and agreed that the minimum borrowing, pro rata borrowing and pro rata payment requirements
contained elsewhere in this Agreement shall not apply to the transactions effected pursuant to this clause (I); and

 

(II)            if
such Incremental Revolving Facility establishes Revolving Commitments of a new Class, (1) the borrowing and repayment (except for
(x) payments of interest and fees at different rates on any Revolving Facility, (y) repayments required upon the Maturity Date
of any Revolving Facility and (z) repayments made in connection with any permanent repayment and termination of any Revolving Commitments
(subject to clause (3) below)) of Incremental Revolving Loans after the effective date of such Incremental Revolving Facility Commitments
shall be made on a pro rata basis with any then-existing Revolving Facility, (2) all letters of credit made or issued, as applicable,
under such Incremental Revolving Facility shall be participated on a pro rata basis by all Revolving Lenders and (3) any permanent
repayment of Revolving Loans with respect to, and reduction or termination of Revolving Commitments under, any Incremental Revolving
Facility after the effective date of any Incremental Revolving Facility shall be made on a pro rata basis or less than pro rata basis
with all other Revolving Facilities, except that the applicable Borrowers shall be permitted to permanently repay Revolving Loans and
terminate Revolving Commitments of any Revolving Facility on a greater than pro rata basis (I) as compared to any other Revolving
Facilities with a later Maturity Date than such Revolving Facility or (II) to the extent refinanced or replaced in accordance with
Section 2.13 of this Agreement.

 

(vi)            The
Lenders hereby irrevocably authorize the Administrative Agent to enter into any Incremental Facility Amendment and/or any amendment to
any other Basic Document with the Parent, the Company and/or the applicable Borrowers as may be necessary in order to establish new or
any increase in any Classes or sub-Classes in respect of Loans or commitments pursuant to this Section 2.01(d) (including,
for instance, to increase the amortization of any existing Class of Term Loans (or to provide for any existing Class of Term
Loans to have (or to again have) amortization) in order to have such existing Class of Term Loans be “fungible”
with any Incremental Term Facility that is to be added to such Loans) and such technical amendments as may be necessary or appropriate
in the reasonable opinion of the Administrative Agent and the Company in connection with the establishment or increase, as applicable,
of such Classes or sub-Classes, in each case on terms consistent with this Section 2.01(d). This Section 2.01(d) shall
supersede any provision in Section 12.05 to the contrary.

 

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2.02.            Reductions
of Commitments.

 

(a)            Mandatory.
The 2022 Revolving Commitments shall terminate on the 2022 Revolving Loan Maturity Date. The 2022 Term A Commitments shall automatically
terminate on the A&R Closing Date (after the making of the 2022 Term A Loans on such date).

 

(b)            Optional.
The Company shall have the right to terminate or reduce any unused Commitments at any time or from time to time, provided that
(i) the Company shall give notice of each such termination or reduction to the Administrative Agent as provided in Section 5.05
hereof and (ii) each partial reduction of the Commitments of any Class shall be in an aggregate amount at least equal to $1,000,000.

 

(c)            No
Reinstatement. Once terminated or reduced pursuant to this Section 2.02, Commitments may not be reinstated.

 

2.03.            Fees.

 

(a)            Commitment
Fees. The Company shall pay to the Administrative Agent for the account of each 2022 Revolving Lender commitment fees in Dollars
on the daily average unused amount of such Lender’s 2022 Revolving Commitment, as the case may be for the period from (and including)
the A&R Closing Date to (but excluding) the earlier of the date the Revolving Commitments are terminated and the Commitment Termination
Date, at a rate per annum equal to the Applicable Commitment Fee Rate in effect from time to time. Accrued commitment fees under this
Section 2.03 shall be payable on the Quarterly Dates and on the earlier of the date the 2022 Revolving Commitments are terminated
and the 2022 Revolving Loan Maturity Date.

 

(b)            Agency
Fee. The Company shall pay to the Administrative Agent agency fees in the amounts and at the times agreed between the Company and
the Administrative Agent in writing.

 

2.04.            Lending
Offices. The Loans of each Type made by each Lender shall be made and maintained at such Lender’s Applicable Lending Office
for Loans of such Type.

 

2.05.            Several
Obligations: Remedies Independent. The failure of any Lender to make any Loan to be made by it on the date specified therefor shall
not relieve any other Lender of its obligation to make its Loan on such date, but neither the Administrative Agent nor any Lender shall
be responsible for the failure of any other Lender to make a Loan to be made by such other Lender.

 

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2.06.            Notes.
Each applicable Borrower, upon receipt of written notice from the relevant Lender, agrees to issue a Note to any Lender (each, a “Note”)
in substantially the form of Exhibit A-1 (in the case of Revolving Loans) or Exhibit A-2 (in the case of Term Loans) hereto,
payable to such Lender, evidencing the Indebtedness hereunder owed to such Lender. Each Lender is hereby authorized by the Borrowers
to endorse on the schedule (or a continuation thereof) attached to each Note of such Lender, to the extent applicable, the date, amount
and Type of and the Interest Period (if any) for each Loan made by such Lender to any applicable Borrower hereunder, and the date and
amount of each payment or prepayment of principal of such Loan received by such Lender, provided that any failure by such Lender to make
any such endorsement shall not affect the obligations of the Company under such Note or hereunder in respect of such Loan.

 

2.07.            Use
of Proceeds. The proceeds of the Loans shall be used for the general corporate purposes of the Parent, the Company and their Subsidiaries,
including, without limitation, the making of Permitted Acquisitions and capital expenditures and the refinancing of Indebtedness of the
Parent and its Subsidiaries. Neither the Administrative Agent nor any Lender shall have any responsibility as to the use of any of the
proceeds of any of the Loans or Letters of Credit.

 

2.08.            Letters
of Credit. Subject to the terms and conditions of this Agreement, each Issuing Bank severally agrees to issue standby letters of
credit (“Letters of Credit”) in Dollars or any Alternate Currency, for the account of the Parent or for the account
(jointly and severally with the Parent) of such of its Subsidiaries as the Company may specify, provided that in no event shall
(i) the aggregate amount of all Letter of Credit Liabilities, together with the aggregate outstanding principal amount of the Revolving
Loans, exceed the aggregate amount of the Revolving Commitments, as the case may be, as in effect from time to time, (ii) the aggregate
amount of all Letter of Credit Liabilities in respect of Letters of Credit issued by an Issuing Bank and its Affiliates exceed such Issuing
Bank’s Issuing Bank Sublimit at any time, (iii) the aggregate amount of all Letter of Credit Liabilities exceed the Letter
of Credit Sublimit at any time or (iv) the expiration date of any Letter of Credit extend beyond the earlier of the Latest Maturity
Date applicable to Revolving Loans and the date one year following the issuance of such Letter of Credit (provided that (A) any
Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods, which periods shall, subject
to the following clause (B), not extend beyond the Maturity Date applicable to Revolving Loans of the applicable Class and
(B) the expiration date of any Letter of Credit may expire after the Maturity Date applicable to Revolving Loans of the applicable
Class so long as the Obligors have complied with the requirements of clause (13) of this Section 3.08). On the A&R
Closing Date, all Existing Letters of Credit shall automatically, without any action on the part of any Person, be deemed to be Letters
of Credit issued and outstanding hereunder.

 

The following additional
provisions shall apply to Letters of Credit:

 

(1)            The
Company shall give the Administrative Agent at least three Business Days’ irrevocable prior notice (effective upon receipt) specifying
the Business Day (which shall be no later than five days preceding the Maturity Date applicable to Revolving Commitments of the applicable
Class) on which each Letter of Credit is to be issued, modified or supplemented and the account party or parties therefor and describing
in reasonable detail the proposed terms of such Letter of Credit (including the beneficiary thereof), or modification or supplement thereto,
and the nature of the transactions or obligations proposed to be supported thereby. Upon receipt of any such notice, the Administrative
Agent shall advise the applicable Issuing Bank of the contents thereof. Each Issuing Bank shall notify the Administrative Agent of the
issuance, modification or supplementation of any Letter of Credit and of any termination or expiry thereof.

 

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(2)            On
each day during the period commencing with the issuance by any Issuing Bank of any Letter of Credit and until such Letter of Credit shall
have expired or been terminated, the Revolving Commitment of each Revolving Lender shall be deemed to be utilized for all purposes of
this Agreement in an amount equal to such Lender’s Applicable Percentage, as the case may be, of the then undrawn stated amount
of such Letter of Credit. Each Lender (other than the Issuing Bank) agrees that, upon the issuance of any Letter of Credit hereunder,
it shall automatically acquire a participation in the Issuing Bank’s rights and obligations under such Letter of Credit in an amount
equal to such Lender’s Applicable Percentage of such rights and obligations, and each Lender thereby shall automatically, absolutely,
unconditionally and irrevocably assume, as primary obligor and not as surety, and be unconditionally obligated to the Issuing Bank to
pay and discharge when due, its Applicable Percentage of the Issuing Bank’s obligation to pay drawings under such Letter of Credit.

 

(3)            Upon
receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit that any Issuing Bank determines
to be in compliance with the terms of such Letter of Credit, such Issuing Bank shall promptly, upon determination of the date on which
payment is to be made, notify the Company (through the Administrative Agent) of the amount to be paid by such Issuing Bank as a result
of such demand and the date on which payment is to be made by such Issuing Bank to such beneficiary in respect of such demand. Notwithstanding
the identity of the account party of any Letter of Credit, each of the Parent and the Company (and each other account party) hereby unconditionally
agrees to pay and reimburse the Administrative Agent, for the account of such Issuing Bank, in Dollars or the applicable Alternate Currency
in immediately available funds for the amount of each demand for payment under such Letter of Credit at or prior to the date on which
payment is to be made by such Issuing Bank to the beneficiary thereunder, without presentment, demand, protest or other formalities of
any kind. The Parent’s and the Company’s (and each other account party’s) obligations under this paragraph (3) shall
be absolute, unconditional and irrevocable under any and all circumstances and irrespective of any setoff, counterclaim or defense to
payment that the Parent or the Company may have or have had against such Issuing Bank, any beneficiary of a Letter of Credit or any other
Person. The Parent and the Company (and each other account party) also agree with each Issuing Bank that no Issuing Bank shall be responsible
for, and the Reimbursement Obligations of the Parent and the Company (and each other account party) under this paragraph (3) shall
not be affected by, among other things, (a) any lack of validity or enforceability of any Letter of Credit or this Agreement, or
any term or provision therein, (b) any draft or other documents presented under a Letter of Credit proving to be invalid, fraudulent
or forged, in any respect or any statement therein being untrue or inaccurate in any respect, (c) any dispute between or among the
Obligors and any beneficiary of any Letter of Credit or any other party to which such Letter of Credit may be transferred or any claims
whatsoever of any Obligor against any beneficiary of such Letter of Credit or any such transferee, (d) payments by any Issuing Bank
under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit,
or (e) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions
of this paragraph, constitute a legal or equitable discharge of, or provide a right of setoff against, the obligations of the Parent
and the Company (and each other account party) hereunder. No Issuing Bank shall have any liability or responsibility by reason of or
in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective
of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission
or delivery of any draft, notice or message or advice, however transmitted, in connection with any Letter of Credit (including any document
required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond
the control of such Issuing Bank; provided that the foregoing shall not be construed to excuse any Issuing Bank from liability to the
Parent or the Company to the extent of any direct damages (as opposed to special, indirect, consequential or punitive damages, claims
in respect of which are hereby waived by the Parent and the Company (and each other account party) to the extent permitted by applicable
law) suffered by the Parent or the Company (or other account party) that are caused by such Issuing Bank’s failure to exercise
care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties
hereto expressly agree that, in the absence of gross negligence or willful misconduct, on the part of any Issuing Bank (as finally determined
by a court of competent jurisdiction), each Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance
of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear
on their face to be in substantial compliance with the terms of a Letter of Credit, each Issuing Bank may, in its sole discretion, either
accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information
to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms
of such Letter of Credit.

 

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(4)            Forthwith
upon its receipt of a notice referred to in paragraph (3) of this Section 2.08, the Company shall advise the Administrative
Agent whether or not the Company intends to borrow hereunder to finance its obligation to reimburse any Issuing Bank for the amount of
the related demand for payment and, if it does, submit a notice of such borrowing as provided in Section 5.05 hereof.

 

(5)            Each
Lender shall pay to the Administrative Agent for account of the Issuing Bank at an account in New York, New York specified by the Administrative
Agent in Dollars or the applicable Alternate Currency in immediately available funds the amount of such Lender’s Applicable Percentage
of any payment under a Letter of Credit, upon notice by any applicable Issuing Bank (through the Administrative Agent) to such Lender
requesting such payment and specifying such amount. Each such Lender’s obligation to make such payment to the Administrative Agent
for account of any Issuing Bank under this paragraph (5), and each Issuing Bank’s right to receive the same, shall be absolute
and unconditional and shall not be affected by any circumstance whatsoever, including, without limitation, the failure of any other Lender
to make its payment under this paragraph (5), the financial condition of the Parent or the Company (or any other account party), any
failure to satisfy any condition precedent to any Loan, the existence of any Default or the termination of the Commitments. Each such
payment to or for the account of each Issuing Bank shall be made without any offset, abatement, withholding or reduction whatsoever.
If any Lender shall default in its obligation to make any such payment to the Administrative Agent for account of any Issuing Bank, for
so long as such default shall continue, the Administrative Agent may, at the request of such Issuing Bank withhold from any payments
received by the Administrative Agent under this Agreement for account of such Lender the amount so in default and, to the extent so withheld,
pay the same to such Issuing Bank in satisfaction of such defaulted obligation.

 

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(6)            Upon
the issuance of any Letter of Credit hereunder, each Lender shall, automatically and without any further action on the part of the Administrative
Agent, any Issuing Bank or such Lender, acquire (i) a participation in an amount equal to the payment by such Lender to the Issuing
Bank pursuant to paragraph (5) above in the Reimbursement Obligation owing to the Issuing Bank hereunder and under the Letter of
Credit Documents relating to such Letter of Credit and (ii) a participation in a percentage equal to such Lender’s Applicable
Percentage of any interest or other amounts payable by the Company hereunder and under such Letter of Credit Documents in respect of
such Reimbursement Obligation (other than the commissions, charges, costs and expenses payable to the applicable Issuing Bank pursuant
to paragraph (7) of this Section 2.08). Upon receipt by any Issuing Bank from or for account of the Company or the Parent of
any payment in respect of any Reimbursement Obligation or any such interest or other amount (including by way of setoff or application
of proceeds of any collateral security) such Issuing Bank shall promptly notify the Administrative Agent of such receipt and pay to the
Administrative Agent for the account of each Lender entitled thereto such Lender’s Applicable Percentage of such payment, each
such payment by such Issuing Bank to be made in the same money and funds in which received by such Issuing Bank. In the event any payment
received by any Issuing Bank and so paid to the Lenders hereunder is rescinded or must otherwise be returned by such Issuing Bank, each
Lender shall, upon the request of such Issuing Bank (through the Administrative Agent), repay to such Issuing Bank (through the Administrative
Agent) the amount of such payment paid to such Lender, with interest at the rate specified in paragraph (10) of this Section 2.08.

 

(7)            The
Company shall pay to the Administrative Agent, for account of the Lenders (ratably in accordance with their respective Applicable Percentages)
a letter of credit fee in Dollars in respect of each Letter of Credit which shall accrue at a rate per annum equal to the Applicable
L/C Percentage on the daily average undrawn stated amount of such Letter of Credit for the period from and including the date of issuance
of such Letter of Credit (i) in the case of a Letter of Credit that expires in accordance with its terms, to but excluding such
expiration date and (ii) in the case of a Letter of Credit that is drawn in full or is otherwise terminated other than on the stated
expiration date of such Letter of Credit, to but excluding the date such Letter of Credit is drawn in full or is terminated (such fee
to be non-refundable, to be paid in arrears on each Quarterly Date and on the Maturity Date applicable to any Class of Revolving
Loans and on the date of expiry or termination or full utilization of such Letter of Credit and to be calculated for any day after giving
effect to any payments made under such Letter of Credit on such day). In addition, the Company shall pay to each Issuing Bank a fronting
fee in Dollars in respect of each Letter of Credit issued by such Issuing Bank which shall accrue at a rate equal to the rate agreed
by such Issuing Bank and the Company (but in any event not to exceed 0.125% per annum) of the daily average undrawn stated amount of
such Letter of Credit for the period from and including the date of issuance of such Letter of Credit (i) in the case of a Letter
of Credit that expires in accordance with its terms, to but excluding such expiration date and (ii) in the case of a Letter of Credit
that is drawn in full or is otherwise terminated other than on the stated expiration date of such Letter of Credit, to but excluding
the date such Letter of Credit is drawn in full or is terminated (such fee to be non-refundable, to be paid in arrears on each Quarterly
Date and on the Maturity Date applicable to any Class of Revolving Loans and to be calculated for any day after giving effect to
any payments made under such Letter of Credit on such day) plus all commissions, charges, costs and expenses in the amounts customarily
charged by such Issuing Bank from time to time in like circumstances with respect to the issuance of each Letter of Credit and drawings
and other transactions relating thereto. The Company may designate Lenders as Issuing Banks on the basis of competitive quotes of such
fronting fees.

 

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(8)            Promptly
following the end of each calendar month, the Administrative Agent shall deliver to each Lender and the Company a notice describing the
aggregate amount of all Letters of Credit outstanding at the end of such month (based on information previously received from the Issuing
Banks). Upon the request of any Lender from time to time, the Administrative Agent shall deliver any other information reasonably requested
by such Lender with respect to each Letter of Credit then outstanding.

 

(9)            The
issuance by any Issuing Bank of each Letter of Credit shall, in addition to the conditions precedent set forth in Section 7 hereof,
be subject to the conditions precedent that (i) such Letter of Credit shall be in such form, contain such terms and support such
transactions as shall be satisfactory to the applicable Issuing Bank consistent with its then current practices and procedures broadly
applied to all similarly situated borrowers with respect to letters of credit of the same type, (ii) subject to Section 1.05,
such Letter of Credit shall be denominated in Dollars or an Alternate Currency and (iii) the Company or the Parent shall have executed
and delivered such applications, agreements and other instruments relating to such Letter of Credit as the applicable Issuing Bank shall
have reasonably requested consistent with its then current practices and procedures with respect to letters of credit of the same type,
provided that in the event of any conflict between any such application, agreement or other instrument and the provisions of this
Agreement or any Security Document, the provisions of this Agreement and the Security Documents shall control.

 

(10)            To
the extent that any Lender shall fail to pay any amount required to be paid pursuant to paragraph (5) or (6) of this Section 2.08
on the due date therefor, such Lender shall pay interest to the applicable Issuing Bank (through the Administrative Agent) on such amount
from and including such due date to but excluding the date such payment is made at a rate per annum equal to the Federal Funds Effective
Rate or, in the case of any amount payable in a currency other than Dollars, the rate determined by the Administrative Agent in its discretion
as the appropriate rate for interbank settlements, provided that if such Lender shall fail to make such payment to any Issuing
Bank within three Business Days of such due date, then, retroactively to the due date, such Lender shall be obligated to pay interest
on such amount at the rate then payable by the Company on such amount.

 

(11)            The
issuance by any Issuing Bank of any modification or supplement to any Letter of Credit hereunder shall be subject to the same conditions
as are applicable under this Section 2.08 to the issuance of new Letters of Credit, and no such modification or supplement shall
be issued hereunder unless either (i) the respective Letter of Credit affected thereby would have complied with such conditions
had it originally been issued hereunder in such modified or supplemented form or (ii) each Lender shall have consented thereto.

 

(12)            The
Company and each other Borrower hereby agrees to indemnify and hold harmless each Lender, each Issuing Bank and the Administrative Agent
from and against any and all claims and damages, losses, liabilities, costs or expenses (including the reasonable fees, charges and disbursements
of counsel) that such Lender, such Issuing Bank or the Administrative Agent may incur (or that may be claimed against such Lender, such
Issuing Bank or the Administrative Agent by any Person whatsoever) by reason of or in connection with (i) the execution and delivery
or transfer of or payment or refusal to pay by any Issuing Bank under any Letter of Credit, the performance by the parties hereto of
their respective obligations hereunder or thereunder, the issuance of or drawing under the Letters of Credit or the consummation of any
other transactions contemplated hereby, (ii) any Letter of Credit or the use of the proceeds therefrom (including any refusal by
any Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do
not strictly comply with the terms of such Letter of Credit), or (iii) any actual or prospective claim, litigation, investigation
or proceeding relating to any of the foregoing, whether or not such claim, litigation, investigation or proceeding is brought by any
Obligor or its equity holders, Affiliates, creditors or any other Person and whether based on contract, tort or any other theory and
regardless of whether any indemnitee is a party thereto; provided that such indemnity shall not be available to the extent that
such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and
non-appealable judgment to have resulted from the gross negligence or willful misconduct of any indemnified party (or its Affiliates),
(y) are determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted from a material breach
of this Agreement or any of the Basic Documents by any indemnified party (or its Affiliates) or (z) arise in connection with or
from any proceeding that does not involve an act or omission by the Parent or the Company or any of their Affiliates and that is brought
by an indemnified person against any other indemnified person (other than in its capacity as a Lender, an Issuing Bank, the Administrative
Agent, a Lead Arranger or other agent hereunder).

 

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(a)            If
any Letter of Credit Liabilities remain outstanding after the Maturity Date applicable to Revolving Loans of the applicable Class, the
applicable Borrowers shall immediately deposit into the Collateral Account an amount in cash equal to 103% of the amount of the Letter
of Credit Liabilities as of such date plus any accrued and unpaid interest thereon. If any Letter or Credit has an expiration date after
the Maturity Date applicable to Revolving Loans of the applicable Class, on or prior to the date that is one year prior to such Maturity
Date, the applicable Borrowers shall deposit into and maintain in the Collateral Account an amount in cash equal to 103% of the amount
of the Letter of Credit Liabilities.

 

2.09.            [Reserved]
.

 

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

 

(a)            fees
shall cease to accrue on the unfunded portion of the Revolving Commitment of such Defaulting Lender pursuant to Section 2.03;

 

(b)            subject
to the second proviso to Section 12.05, the Revolving Commitments of such Defaulting Lender shall not be included in determining
whether all Lenders, the Majority Lenders or the Majority Revolving Lenders, as applicable, have taken or may take any action under this
Agreement (including any consent to any amendment or waiver pursuant to Section 12.05), provided that in the case of an amendment,
waiver or other modification requiring the consent of all Lenders or each Lender affected thereby which affects such Defaulting Lender
disproportionately and adversely relative to other affected Lenders shall require the consent of such Defaulting Lender;

 

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(c)            if
any Letter of Credit Liability under any of the Revolving Commitments exists at the time a Revolving Lender becomes a Defaulting Lender
then:

 

(i)            such
Defaulting Lender’s pro rata portion of Letter of Credit Liability based on such Lender’s share of the relevant Revolving
Commitments (“L/C Exposure”) shall be reallocated among the non-Defaulting Revolving Lenders in accordance with their
respective shares thereof but only to the extent (x) the sum of all non-Defaulting Revolving Lenders’ Revolving Loans under
such Revolving Commitments and their Letter of Credit Liabilities thereunder plus such Defaulting Lender’s L/C Exposure under such
Revolving Commitments does not exceed the total of all non-Defaulting Revolving Lenders’ Revolving Commitments under such Revolving
Commitments and (y) the conditions set forth in Section 7.03 are satisfied at such time;

 

(ii)            if
the reallocation described in clause (i) above cannot, or can only partially, be effected, the relevant Borrower shall within one
Business Day following notice by the Administrative Agent cash collateralize for the benefit of each Issuing Bank such Borrower’s
obligations corresponding to any such Defaulting Lender’s remaining L/C Exposure (after giving effect to any partial reallocation
pursuant to clause (i) above) in accordance with the procedures set forth in Section 10.01 for so long as such L/C Exposure
is outstanding;

 

(iii)            if
the Borrowers cash collateralize any portion of such Defaulting Lender’s L/C Exposure pursuant to Section 2.10(c)(ii), no
Borrower shall be required to pay any fees to such Defaulting Lender pursuant to Section 2.08(7) with respect to such L/C Exposure
during the period such Defaulting Lender’s L/C Exposure is cash collateralized;

 

(iv)            if
the L/C Exposure of the non-Defaulting Lenders is reallocated pursuant to Section 2.10(c)(i), then the fees payable to the Lenders
pursuant to Sections 2.03 and 2.08(7) shall be adjusted in accordance with such non-Defaulting Lenders’ Applicable Percentages
(after giving effect to such adjustment); or

 

(v)            if
all or any portion of such Defaulting Lender’s L/C Exposure is neither cash collateralized nor reallocated pursuant to Section 2.10(c)(i) or
(ii), then, without prejudice to any rights or remedies of any Issuing Bank or any other Lender under this Agreement, all letter of credit
fees payable under Section 2.08(7) with respect to such Defaulting Lender’s L/C Exposure shall be payable to such Issuing
Bank until and to the extent that such L/C Exposure is cash collateralized and/or reallocated;

 

(d)            so
long as any Revolving Lender is a Defaulting Lender, no Issuing Bank shall be required to issue, amend or increase any Letter of Credit,
unless it is satisfied that the related exposure and the Defaulting Revolving Lender’s then outstanding L/C Exposure will be 100%
covered by the Revolving Commitments of the relevant non-Defaulting Revolving Lenders and/or cash collateral will be provided by the
relevant Borrower in accordance with Section 2.10(c), and participating interests in any such newly issued or increased Letter of
Credit shall be allocated among such non-Defaulting Revolving Lenders in a manner consistent with Section 2.10(c)(i) (and such
Defaulting Lender shall not participate therein); and

 

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(e)            any
payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Section 10.01 or otherwise) or received by the Administrative Agent from
a Defaulting Lender pursuant to Section 12.19 shall be applied at such time or times as may be determined by the Administrative
Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder;
second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to any Issuing Bank hereunder; third,
to cash collateralize the Issuing Banks’ fronting exposure with respect to such Defaulting Lender in accordance with Section 2.10(c)(ii);
fourth, as the Company may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of
which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative
Agent; fifth, if so determined by the Administrative Agent and the Company, to be held in a deposit account and released pro rata
in order to (x) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement
and (y) cash collateralize the Issuing Banks’ future fronting exposure with respect to such Defaulting Lender with respect
to future Letters of Credit issued under this Agreement in accordance with Section 2.10(c)(ii); sixth, to the payment of
any amounts owing to the Lenders or the Issuing Banks as a result of any judgment of a court of competent jurisdiction obtained by any
Lender or the Issuing Banks against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under
this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrowers
as a result of any judgment of a court of competent jurisdiction obtained by any Borrower against such Defaulting Lender as a result
of such Defaulting Lender's breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise
directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of
any Loans or Reimbursement Obligations in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such
Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 7.03 were satisfied
or waived, such payment shall be applied solely to pay the Loans of, and Reimbursement Obligations owed to, all Non-Defaulting Lenders
on a pro rata basis prior to being applied to the payment of any Loans of, or Reimbursement Obligations owed to, such Defaulting Lender
until such time as all Loans and funded and unfunded participations in L/C Obligations are held by the Lenders pro rata in accordance
with the Commitments under the applicable Facility without giving effect to Section 2.10(c)(i). Any payments, prepayments or other
amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash
collateral pursuant to this Section 2.10(e) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender
irrevocably consents hereto.

 

In the event that the Administrative
Agent, the Company and each Issuing Bank agree that a Defaulting Lender has adequately remedied all matters that caused such Lender to
be a Defaulting Lender, then the L/C Exposure of the Revolving Lenders under the relevant Revolving Commitments shall be readjusted to
reflect the inclusion of such Lender’s relevant Revolving Commitment and on such date such Lender shall purchase at par such of
the Revolving Loans of such other Revolving Lenders as the Administrative Agent shall determine may be necessary in order for such Lender
to hold such Loans in accordance with its share of the relevant Revolving Commitments.

 

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(f)            If
any Lender becomes a Defaulting Lender, then the Company shall have the right, at its sole expense and effort, upon notice to such Lender
and the Administrative Agent, to require such Lender to assign and delegate, without recourse, all its interests, rights and obligations
under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such
assignment); provided that (i) the Company shall have received the prior written consent of the Administrative Agent (and
if a Revolving Commitment is being assigned, the Issuing Bank) which consent shall not be unreasonably withheld, to the extent such consent
would have been required pursuant to Section 12.06(b) and (ii) such Lender shall have received payment of an amount equal
to the outstanding principal of its Loans and participations in Letters of Credit, accrued interest thereon, accrued fees and all other
amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the
Borrowers (in the case of all other amounts). A Lender shall not be required to make any such assignment and delegation if, prior thereto,
as a result of a waiver by such Lender or otherwise, the circumstances entitling the Company to require such assignment and delegation
cease to apply.

 

2.11.            Term
Loan Purchases. So long as no Default or Event of Default has occurred and is continuing, the Company may from time to time purchase,
in accordance with this Section 2.11, Term Loans of any Class from one or more Lenders on a non-pro rata basis pursuant to
a Dutch auction or other process satisfactory to the Administrative Agent open to all applicable Lenders of such Class, on terms to be
agreed between the Company and the Lenders participating in such Dutch auction; provided that (i) the Company may not use
the proceeds of the Revolving Loans to fund such purchase, (ii) in connection with any such purchase the Parent either (x) makes
a customary representation that there is no undisclosed material non-public information (within the meaning of United States federal
securities laws) with respect to the Parent and its Subsidiaries and the Loans or (y) that it cannot make the representation set
forth in the foregoing clause (x), (iii) the procedures with respect to any such Dutch auction shall be approved by the Administrative
Agent and (iv) any principal and accrued interest and unpaid interest on the Term Loans purchased by the Company (or its Affiliates)
shall be cancelled and such Term Loans shall no longer be outstanding for all purposes of this Agreement and the other Basic Documents.

 

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2.12.            Extension
Offers.

 

(a)            Notwithstanding
anything to the contrary in this Agreement, pursuant to one or more offers (each, an “Extension Offer”) made from
time to time by the Company to all Lenders of Term Loans of any Class or Revolving Lenders of any Class on a pro rata
basis and on the same terms, the Company may from time to time extend the maturity date of the relevant Term Loans or the relevant Revolving
Commitments, as the case may be, and otherwise modify the terms of the relevant Term Loans or the relevant Revolving Commitments pursuant
to the terms of the relevant Extension Offer (including, without limitation, by increasing the interest rate or fees payable in respect
of the Term Loans or the relevant Revolving Commitments (and related Revolving Loans) and/or modifying the amortization schedule in respect
of such Lender’s Term Loans) (each, an “Extension”, and each group of relevant Term Loans or relevant Revolving
Commitments, as the case may be, as so extended, as well as the original relevant Term Loans or relevant Revolving Commitments (in each
case, not so extended), each being a “tranche”; any Extension Term Loans shall constitute a separate tranche of Term Loans
from the tranche of Term Loans from which they were converted and any Extension Revolving Commitments shall constitute a separate tranche
of Revolving Commitments from the tranche of relevant Revolving Commitments from which they were converted), so long as the following
terms are satisfied: (i) the conditions set forth in Section 7.03 shall be satisfied on and as of the date of such extension,
(ii) in respect of Term Loans, except as to interest rates, fees, amortization, final maturity date, premium, required prepayment
dates and participation in prepayments (which shall, subject to immediately succeeding clauses (iii), (iv) and (v), be determined
by the Company and set forth in the relevant Extension Offer), the Term Loans of any Lender extended pursuant to any Extension (“Extension
Term Loans”) shall have the same terms as the tranche of Term Loans subject to such Extension Offer, (iii) the final maturity
date of any Extension Term Loans (x) that do not constitute Term B Loans shall be no earlier than the applicable Latest Maturity
Date applicable to each then-outstanding Class of Term Loans that do not constitute Term B Loans and (y) that constitute Term
B Loans shall be no earlier than the Latest Maturity Date, (iv) the Weighted Average Life to Maturity of any Extension Term Loans
(x) that do not constitute Term B Loans shall be no shorter than the remaining Weighted Average Life to Maturity of each then-outstanding
Class of Term Loans that are not Term B Loans and (y) that constitute Term B Loans shall be no shorter than the remaining Weighted
Average Life to Maturity of each then-outstanding Class of Term Loans, (v) any Extension Term Loans may participate on a pro
rata basis or a less than pro rata basis (but not greater than a pro rata basis) in any voluntary or mandatory repayments
or prepayments hereunder, in each case as specified in the respective Extension Offer, (vi) if the aggregate principal amount of
Term Loans or Revolving Commitments, as applicable (calculated on the face amount thereof), in respect of which Lenders shall have accepted
the relevant Extension Offer shall exceed the maximum aggregate principal amount of Term Loans of the relevant Class or Revolving
Commitments of the relevant Class, as the case may be, offered to be extended by the Company pursuant to such Extension Offer, then the
relevant Term Loans or the relevant Revolving Commitments, as applicable, of such Lenders shall be extended ratably up to such maximum
amount based on the respective principal amounts (but not to exceed actual holdings of record) with respect to which such Lenders have
accepted such Extension Offer, (vii) all documentation in respect of such Extension shall be consistent with the foregoing, (viii) any
applicable Minimum Extension Condition shall be satisfied unless waived by the Company, and (ix) any tranche which is an Extension
of Revolving Commitments shall have the same terms (other than interest rate and fees and an extended maturity date) as the tranche of
Revolving Commitments subject to such Extension Offer unless otherwise agreed by the Administrative Agent. The relevant Revolving Commitments
of any Revolving Lender extended pursuant to any Extension (“Extension Revolving Commitments”) shall expire no earlier
than the termination date of the tranche of relevant Revolving Commitments subject to such Extension Offer; provided that to the
extent more than one Revolving Facility exists after giving effect to any such Extension Revolving Commitments, (1) the borrowing
and repayment (except for (i) payments of interest and fees at different rates on any Revolving Facility (and related outstandings),
(ii) repayments required upon the Maturity Date of any Revolving Facility and (iii) repayments made in connection with any
permanent repayment and termination of any Revolving Commitments (subject to clause (3) below)) of Revolving Loans thereunder after
the effective date of such Extension Revolving Commitments shall be made on a pro rata basis with all other Revolving Facilities, (2) all
Letters of Credit made or issued, as applicable, under any Extension Revolving Commitments shall be participated on a pro rata basis
by all Revolving Lenders of the applicable Class and (3) any permanent repayment of Revolving Loans with respect to Extension
Revolving Commitments, and reduction or termination of Extension Revolving Commitments, after the effective date of such Extension Revolving
Commitments shall be made on a pro rata basis or less than pro rata basis with all other Revolving Facilities, except that the applicable
Borrowers shall be permitted to permanently repay Revolving Loans and terminate Revolving Commitments of any Revolving Facility on a
greater than pro rata basis (I) as compared to any other Revolving Facilities with a later Maturity Date than such Revolving Facility
or (II) to the extent refinanced or replaced with Refinancing Revolving Commitments. For the avoidance of doubt, no Lender shall
be required to participate in any Extension.

 

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(b)            With
respect to all Extensions consummated pursuant to this Section 2.12, (i) such Extensions shall not constitute voluntary or
mandatory payments or prepayments for purposes of Section 3.02 and (ii) no Extension Offer is required to be in any minimum
amount or any minimum increment; provided that the Company may at its election specify as a condition (a “Minimum Extension
Condition”) to consummating any such Extension that a minimum amount (to be determined and specified in the relevant Extension
Offer in the Company’s reasonable judgment and which may be waived by the Company) of Term Loans or Revolving Commitments tendered.
The Administrative Agent and the Lenders hereby consent to the Extensions and the other transactions contemplated by this Section 2.12
(including, for the avoidance of doubt, payment of any interest, fees or premium in respect of any Extension Term Loans on such terms
as may be set forth in the relevant Extension Offer) and hereby waive the requirements of any provision of this Agreement or any other
Basic Document that may otherwise prohibit any such Extension or any other transaction contemplated by this Section 2.12

 

(c)            The
Lenders hereby irrevocably authorize the Administrative Agent to enter into amendments to this Agreement and the other Basic Documents
with the Obligors as may be necessary in order to establish new Classes, tranches or sub-tranches in respect of Term Loans or Revolving
Commitments so extended and such technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative
Agent and the Company in connection with the establishment of such new Classes, tranches or sub-tranches, in each case on terms consistent
with this Section 2.12.

 

(d)            In
connection with any Extension, the Company shall provide the Administrative Agent at least five Business Days’ (or such shorter
notice as may be agreed by the Administrative Agent) prior written notice thereof, and shall agree to such procedures, if any, as may
be established by, or acceptable to, the Administrative Agent, in each case acting reasonably to accomplish the purposes of this Section 2.12.
After such notice of an Extension is given to the Administrative Agent, should any existing Lenders choose not to participate in the
Extension the Borrowers will have the right to add an additional Lender party thereto to replace the Loans and/or Commitments of such
existing Lenders, subject to receipt of consents of the type required by Section 12.06(b).

 

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2.13.            Refinancing
Facilities.

 

(a)            The
Company may, on one or more occasions, by written notice to the Administrative Agent, request the establishment hereunder of (i) a
new Class of revolving commitments (the “Refinancing Revolving Commitments”) pursuant to which each Person providing
such a commitment (a “Refinancing Revolving Lender”) will make revolving loans to the Borrowers (“Refinancing
Revolving Loans”) and acquire participations in the Letters of Credit and (ii) one or more additional Classes of term
loan commitments (the “Refinancing Term Loan Commitments”) pursuant to which each Person providing such a commitment
(a “Refinancing Term Lender”) will make term loans to the Company (the “Refinancing Term Loans”);
provided that (A) each Refinancing Revolving Lender and each Refinancing Term Lender shall be a Person eligible to receive assignments
pursuant to Section 12.06(b) and, if not already a Lender, shall otherwise be reasonably acceptable to the Administrative Agent
and (B) to the extent as would be required to effect an assignment of Revolving Loans to such person pursuant to Section 12.06(b),
each Refinancing Revolving Lender shall be approved by each Issuing Bank (such approvals not to be unreasonably withheld).

 

(b)            The
Refinancing Commitments shall be effected pursuant to one or more Refinancing Facility Agreements executed and delivered by the applicable
Borrowers, each Refinancing Lender providing such Refinancing Commitments, the Administrative Agent and, in the case of Refinancing Revolving
Commitments, each Issuing Bank; provided that no Refinancing Commitments shall become effective unless (i) no Event of Default shall
have occurred and be continuing on the date of effectiveness thereof, (ii) on the date of effectiveness thereof, the representations
and warranties of each of the Parent and the Company set forth in the Basic Documents shall be true and correct (A) in the case
of the representations and warranties qualified as to materiality, in all respects and (B) otherwise, in all material respects,
in each case on and as of such date, except in the case of any such representation and warranty that specifically relates to an earlier
date, in which case such representation and warranty shall be so true and correct in all material respects (or if such representation
and warranty is qualified as to materiality, in all respects) on and as of such earlier date, (iii) the Company shall have delivered
to the Administrative Agent such legal opinions, board resolutions, secretary’s certificates, officer’s certificates and
other documents as shall reasonably be requested by the Administrative Agent in connection with any such transaction, (iv) in the
case of any Refinancing Revolving Commitments, substantially concurrently with the effectiveness thereof, Revolving Commitments then
in effect in an amount equal to the Refinancing Revolving Commitments shall be terminated, and all the Revolving Loans then outstanding
under such Revolving Commitments, together with all interest thereon, and all other amounts accrued for the benefit of the Revolving
Lenders, shall be repaid or paid (it being understood, however, that any Letters of Credit may continue to be outstanding hereunder),
and the aggregate amount of such Refinancing Revolving Commitments shall not exceed the aggregate amount of the Revolving Commitments
so terminated, and (v) in the case of any Refinancing Term Loan Commitments, substantially concurrently with the effectiveness thereof,
the Company shall obtain Refinancing Term Loans thereunder and shall repay or prepay then outstanding Term Loans of one or more Classes
in an aggregate principal amount equal to the aggregate amount of such Refinancing Term Loan Commitments (less the aggregate amount of
accrued and unpaid interest with respect to such outstanding Term Loans and any reasonable fees, premium and expenses relating to such
refinancing). The Company shall determine the amount of such prepayments allocated to each Class of outstanding Term Loans, and
any such prepayment of Term Loans of any Class shall be applied to reduce the subsequent scheduled repayments of Term Loans of such
Class to be made pursuant to Sections 4.01(b), 4.01(c) and 4.01(d) as directed by the Company.

 

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(c)            The
Refinancing Facility Agreement shall set forth, with respect to the Refinancing Commitments established thereby and the Refinancing Loans
and other extensions of credit to be made thereunder, to the extent applicable, the following terms thereof: (i) the designation
of such Refinancing Commitments and Refinancing Loans as a new “Class” for all purposes hereof (provided that with the consent
of the Administrative Agent, any Refinancing Commitments and Refinancing Loans may be treated as a single “Class” with any
then-outstanding existing Commitments or Loans), (ii) the stated termination and maturity dates applicable to the Refinancing Commitments
or Refinancing Loans of such Class, provided that (A) such stated termination and maturity dates shall not be earlier than that
of the Class of Loans so refinanced and (B) any Refinancing Term Loans shall not have a weighted average life to maturity shorter
than the Class of Term Loans so refinanced, (iii) in the case of any Refinancing Term Loans, any amortization applicable thereto
and the effect thereon of any prepayment of such Refinancing Term Loans, (iv) the interest rate or rates applicable to the Refinancing
Loans of such Class, (v) the fees applicable to the Refinancing Commitments or Refinancing Loans of such Class, (vi) in the
case of any Refinancing Term Loans, any original issue discount applicable thereto, (vii) the initial Interest Period or Interest
Periods applicable to Refinancing Loans of each Type, (viii) any voluntary or mandatory commitment reduction or prepayment requirements
applicable to Refinancing Commitments or Refinancing Loans of such Class (which prepayment requirements, in the case of any Refinancing
Term Loans, may provide that such Refinancing Term Loans may participate in any mandatory prepayment on a pro rata basis with any Class of
existing Term Loans, but may not provide for prepayment requirements that are more favorable to the Lenders holding such Refinancing
Term Loans than to the Lenders holding any existing Class of Term Loans) and any restrictions on the voluntary or mandatory reductions
or prepayments of Refinancing Commitments or Refinancing Loans of such Class and (ix) any financial covenant with which the
Company shall be required to comply (provided that if any Refinancing Term Loans have a financial covenant at any time prior to the Latest
Maturity Date in effect hereunder at the time of incurrence of such Refinancing Term Loans, then any then-outstanding Term Loans (to
the extent entitled to the benefits of a financial covenant at the time of incurrence) and the Refinancing Term Loans shall vote together
as a single class on all waivers, amendments or events of default related thereto). Except as contemplated by the preceding sentence,
the terms of the Refinancing Revolving Commitments and Refinancing Revolving Loans and other extensions of credit thereunder shall be
substantially the same as, or not materially less favorable to the Parent and its Subsidiaries than the terms (taken as a whole) of the
then outstanding Revolving Commitments and Revolving Loans, and the terms of the Refinancing Term Loan Commitments and Refinancing Term
Loans shall be substantially the same as, or not materially less favorable to the Parent and its Subsidiaries than the terms (taken as
a whole) of the then outstanding Term Loans (and any Commitments in respect thereof); provided that to the extent more than one
Revolving Facility exists after giving effect to any such Refinancing Revolving Commitments, except as expressly contemplated in the
preceding sentence, (1) the borrowing and repayment (except for (i) payments of interest and fees at different rates on any
Revolving Facility (and related outstandings), (ii) repayments required upon the Maturity Date of any Revolving Facility and (iii) repayments
made in connection with any permanent repayment and termination of any Revolving Commitments) of Revolving Loans thereunder after the
effective date of such Refinancing Revolving Commitments shall be made on a pro rata basis with all other Revolving Facilities and (2) all
Letters of Credit made or issued, as applicable, under any Refinancing Revolving Commitments shall be participated on a pro rata basis
by all Revolving Lenders of the applicable Class. The Administrative Agent shall promptly notify each Lender as to the effectiveness
of each Refinancing Facility Agreement. Each Refinancing Facility Agreement may, without the consent of any Lender other than the applicable
Refinancing Lenders, effect such amendments to this Agreement and the other Basic Documents as may be necessary or appropriate, in the
opinion of the Administrative Agent, to give effect to the provisions of this Section 2.13, including any amendments necessary to
treat the applicable Refinancing Commitments and Refinancing Loans as a new “Class” of loans and/or commitments hereunder.

 

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Section 3.
Borrowings, Conversions and Prepayments.

 

3.01.            Procedure
for Borrowing.

 

(a)            The
Company shall give the Administrative Agent notice of each Loan, to be made hereunder as provided in Section 5.05 hereof.

 

(b)            Not
later than 5:00 p.m. New York time on the date specified for each borrowing in Dollars hereunder, each applicable Lender shall make
available the amount of the Loan to be made by it on such date to the Administrative Agent, at an account in New York, New York specified
by the Administrative Agent, in immediately available funds, for account of the applicable Borrower. The amount so received by the Administrative
Agent shall, subject to the terms and conditions of this Agreement, be made available to the applicable Borrower by depositing the same,
in immediately available funds, in an account of such Borrower designated by such Borrower and maintained with the Administrative Agent.

 

(c)            Not
later than 2:00 p.m. New York time on the date specified for each borrowing in an Alternate Currency hereunder, each applicable
Lender shall make available the amount of the Loan to be made by it on such date to the Administrative Agent, at an account specified
by the Administrative Agent, in immediately available funds, for account of the applicable Borrower. The amount so received by the Administrative
Agent shall, subject to the terms and conditions of this Agreement, be made available to the applicable Borrower by depositing the same,
in immediately available funds, in an account of such Borrower designated by such Borrower and maintained with the Administrative Agent.

 

3.02.            Prepayments
and Conversions.

 

(a)            Optional
Prepayments and Conversions. The Company shall have the right to prepay Loans of any Class and to convert Loans from one Type
into Loans of another Type, at any time or from time to time subject to the limitations contained in Section 4.02; provided,
that the Company shall give the Administrative Agent notice of each such prepayment as provided in Section 5.05 hereof. Any prepayment
of Term Loans under this Section 3.02(a) shall be applied ratably to the Term Loans of the applicable Class being prepaid
and to the scheduled installments of principal of such Class of Term Loans in such order of application as the Company may direct
(in the absence of any such direction, in direct order of maturity) and such prepaid amounts may not be reborrowed. Revolving Loans in
one currency may not be converted to being Revolving Loans in another currency, but may be prepaid and reborrowed as provided herein.

 

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(b)            Mandatory
Prepayments from Incurrence of Indebtedness.

 

(i)            If
on any date, the Parent or any Subsidiary of the Parent shall receive Net Cash Proceeds from any issuance or incurrence of Indebtedness
subsequent to the A&R Closing Date, other than Indebtedness permitted to be incurred pursuant to Section 9.08 hereof (except
to the extent the relevant Indebtedness constitutes Refinancing Term Loans incurred to refinance all or a portion of any Class of
then outstanding Term Loans), then the Company shall, within five Business Days of the date the Parent and/or the relevant Subsidiaries
receive such Net Cash Proceeds, prepay the Term Loans (and/or provide cover for Letter of Credit Liabilities as specified in paragraph
(d) below) in an amount equal to such Net Cash Proceeds.

 

(ii)            Amounts
to be applied in connection with prepayments made pursuant to this Section 3.02(b) shall be applied ratably to the prepayment
of each Class of outstanding Term Loans (which may not be reborrowed) to the scheduled installments of principal thereof in such
order of application as the Company may direct (in the absence of any such direction, in direct order of maturity); provided that,
to the extent any prepayment is made in respect of Net Cash Proceeds of any Refinancing Term Loans, such Net Cash Proceeds shall be applied
to prepay only such Class of Term Loans being refinanced. Each prepayment of the Loans under this Section 3.02(b) shall
be accompanied by accrued interest to the date of such prepayment on the amount prepaid.

 

(c)            Mandatory
Prepayments from Asset Sales and Recovery Events.

 

(i)            If
on any date, the Parent or any Subsidiary of the Parent shall receive Net Cash Proceeds from (A) any non-ordinary course disposition
of assets pursuant to Section 9.12(iv)(y) to any Person other than the Company or a Subsidiary or (B) any Recovery Event,
in each case, in excess of (i) $10,000,000 for any transaction (or series of transactions) and (ii) $100,000,000 in any fiscal
year of the Parent (excluding any amounts previously excluded pursuant to this clause (i)), then, within ten Business Days of receipt
of such Net Cash Proceeds, the Company shall be prepay Term Loans in an amount equal to the Asset Sale Prepayment Percentage of such
Net Cash Proceeds. With respect to any Net Cash Proceeds realized or received with respect to any disposition or Recovery Event that,
in either case, is subject to the application of the immediately preceding sentence in this Section 3.02(c)(i), at the option of
the Parent or any of its Subsidiaries, the Parent or any of its Subsidiaries may (in lieu of making a prepayment pursuant to the foregoing
provisions) elect to (I) reinvest an amount equal to all or any portion of such Net Cash Proceeds in assets used or useful for the
business of the Parent and its Subsidiaries (1) within eighteen months following receipt of such Net Cash Proceeds or (2) if
the Parent or any of its Subsidiaries enters into a legally binding commitment to reinvest such Net Cash Proceeds within eighteen months
following receipt of such Net Cash Proceeds, no later than one hundred and eighty days after the end of such eighteen month period; provided
that if any portion of such amount is not so reinvested by such dates, subject to clause (iii) below, an amount equal to 100% of
any such Net Cash Proceeds shall be applied within ten Business Days after such dates to the prepayment of the Term Loans as set forth
in the immediately preceding sentence.

 

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(ii)            Amounts
to be applied in connection with prepayments made pursuant to this Section 3.02(c) shall be applied ratably to the prepayment
of each Class of outstanding Term Loans (which may not be reborrowed) to the scheduled installments of principal thereof in such
order of application as the Company may direct (in the absence of any such direction, in direct order of maturity). Each prepayment of
the Loans under this Section 3.02(c) shall be accompanied by accrued interest to the date of such prepayment on the amount
prepaid. The Company shall notify the Administrative Agent promptly upon the occurrence of any event giving rise to a prepayment under
this Section 3.02(c). Any prepayment of Term Loans pursuant to Section 3.02(b) or (c) shall be applied as specified
in Section 5.02. Any repayment or prepayment of Term Loans may not be reborrowed.

 

(iii)            Notwithstanding
anything in this Section 3.02(c) to the contrary, (x) the Company shall not be required to prepay any amount that would
otherwise be required to be paid pursuant to this Section 3.02(c) to the extent that the relevant disposition is consummated
by any Foreign Subsidiary or the relevant Net Cash Proceeds from a Recovery Event are received by any Foreign Subsidiary, as the case
may be, for so long as the Parent determines in good faith that the repatriation to the Company of any such amount would be prohibited
or delayed (beyond the time period during which such prepayment is otherwise required to be made pursuant to clause (i) above; provided
that, to the extent any such delayed amounts are later repatriated, the Parent shall prepay Term Loans as provided in this Section 3.02(b) as
promptly as practicable following such repatriation) under applicable law or would conflict with the fiduciary duties of such Foreign
Subsidiary’s directors, or result in, or could reasonably be expected to result in, a material risk of personal or criminal liability
for any officer, director, employee, manager, member of management or consultant of such Foreign Subsidiary (including on account of
financial assistance, corporate benefit, thin capitalization, capital maintenance or similar considerations); (y) the Company shall
not be required to prepay any amount that would otherwise be required to be paid pursuant to this Section 3.02(c) to the extent
that the relevant Net Cash Proceeds are received by any Subsidiary that is not a Wholly-Owned Subsidiary for so long as the Parent determines
in good faith that the distribution to the Company of such Net Cash Proceeds would be prohibited under any applicable (I) organizational
documents (or any relevant shareholders’ or similar agreement) governing the holders of the Capital Stock of such Subsidiary, (II) agreement
or instrument entered into with a Person other than the Parent or a Subsidiary and not in contemplation of such Net Cash Proceeds otherwise
being subject to the prepayment obligations under this Agreement or (III) judgment, decree, order, statute or governmental rule or
regulation; and (z) if the Parent determines in good faith that the repatriation (or other intercompany distribution) to the Company
of any amounts required to mandatorily prepay the Term Loans pursuant to this Section 3.02(c) would result in material and
adverse tax consequences for the Parent or any of its Subsidiaries, Affiliates or indirect or direct equity owners, taking into account
any foreign tax credit or benefit actually realized in connection with such repatriation (such amount, a “Restricted Amount”),
the amount the Company shall be required to mandatorily prepay pursuant to this Section 3.02(c) shall be reduced by the Restricted
Amount.

 

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(d)            Mandatory
Prepayments of Revolving Loans. In the event that on any Calculation Date, the aggregate amount of Revolving Loans and Letter of
Credit Liabilities outstanding under the Revolving Commitments of any Class exceeds the aggregate amount of the Revolving Commitments
of such Class then in effect, the applicable Borrowers shall, within five Business Days of receipt of notice from the Administrative
Agent, prepay the Revolving Loans and/or reduce the Letter of Credit Liabilities in an aggregate amount sufficient to reduce such outstanding
amount as of the date of such payment to an amount not to exceed the Revolving Commitments of such Class then in effect by taking
either or both of the following actions: (i) prepaying Revolving Loans or (ii) with respect to any excess Letter of Credit
Liabilities, cash collateralizing, “backstopping” or replacing the relevant Letters of Credit, in each case, in an amount
equal to 100% of such excess Letter of Credit Liabilities (minus any amount then on deposit in any Collateral Account).

 

Section 4.
Payments of Principal and Interest.

 

4.01.            Repayment
of Loans.

 

(a)            The
Borrowers hereby promise to pay to the Administrative Agent for the ratable account of each 2022 Revolving Lender the entire outstanding
principal amount of such 2022 Revolving Lender’s 2022 Revolving Loans, and each 2022 Revolving Loan shall mature, on the 2022 Revolving
Loan Maturity Date.

 

(b)            The
Company hereby promises to pay to the Administrative Agent for the account of each 2022 Term A Lender (i) on each Quarterly Date,
commencing with the first full fiscal quarter ending after the A&R Closing Date, a principal amount of the 2022 Term A Loans equal
to 1.25% of the aggregate principal amount of the 2022 Term A Loans funded to the Company on the A&R Closing Date and (ii) on
the 2022 Term A Loan Maturity Date, the unpaid principal amount of the 2022 Term A Loans outstanding on the 2022 Term A Loan Maturity
Date.

 

(c)            The
Company hereby promises to pay to the Administrative Agent for the ratable account of each Existing Term B Lender (i) on each Quarterly
Date, commencing with the June 30, 2018, a principal amount of the Existing Term B Loans equal to 0.25% of the aggregate principal
amount of Existing Term B Loans funded to the Company on March 22, 2018 (the “Existing Term B Funding Date”)
and (ii) on the Existing Term B Loan Maturity Date, the unpaid principal amount of the Existing Term B Loans outstanding on the
Existing Term B Loan Maturity Date.

 

(d)            The
Incremental Loans of each Incremental Lender shall mature as specified in the applicable Incremental Facility Amendment.

 

4.02.            Interest.
Each of the Borrowers will pay to the Administrative Agent, for the account of each Lender, interest on the unpaid principal amount of
each Loan made by such Lender to such Borrower for the period commencing on the date of such Loan to but excluding the date such Loan
shall be paid in full, at the following rates per annum:

 

(1)            if
such Loan is an ABR Loan, the Alternate Base Rate plus the Applicable Margin;

 

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(2)            if
such Loan is a Term Benchmark Loan, the Adjusted Term SOFR Rate plus the Applicable Margin;

 

(3)            if
such Loan is a CDOR Loan, the CDOR Rate plus the Applicable Margin; and

 

(4)            if
such Loan is a C$ Prime Loan, the C$ Prime Rate plus the Applicable Margin.

 

Notwithstanding the foregoing,
each of the Borrowers hereby promises to pay to the Administrative Agent, for account of each Lender, interest at the applicable Post-Default
Rate (x) on any overdue principal of any Loan made by such Lender to the Company or any other Borrower, on any Reimbursement Obligation
held by such Lender and on any other amount payable by the Company or any other Borrower hereunder to or for account of such Lender (but,
if such amount is interest, only to the extent legally enforceable), that shall not be paid in full when due (whether at stated maturity,
by acceleration, by mandatory prepayment or otherwise), for the period from and including the due date thereof to but excluding the date
the same is paid in full and (y) during any period when an Event of Default shall have occurred under Section 10.01(1) hereof
and for so long as such Event of Default shall be continuing, on any principal of any Loan made by such Lender to the Company or any
other Borrower.

 

Accrued interest on each
Loan shall be payable (i) on each Interest Payment Date for such Loan, (ii) in the case of Revolving Loans, upon the termination
of the Revolving Commitments and (iii) upon the payment, prepayment or conversion thereof, but only on the principal so paid or
prepaid or converted; provided that interest payable at the Post-Default Rate shall be payable from time to time on demand of
the Administrative Agent or the Majority Lenders. Promptly after the determination of any interest rate provided for herein or any change
therein, the Administrative Agent shall notify the Lenders and each Borrower thereof.

 

Notwithstanding the foregoing
provisions of this Section 4.02, if at any time the rate of interest set forth above on any Loan of any Lender (the “Stated
Rate” for such Loan) exceeds the maximum non-usurious interest rate permissible for such Lender to charge commercial borrowers
under applicable law (the “Maximum Rate” for such Lender), the rate of interest charged on such Loan of such Lender
hereunder shall be limited to the Maximum Rate for such Lender. In the event the Stated Rate for any Loan of a Lender that has theretofore
been subject to the preceding paragraph at any time is less than the Maximum Rate for such Lender, the principal amount of such Loan
shall bear interest at the Maximum Rate for such Lender until the total amount of interest paid to such Lender or accrued on its Loans
hereunder equals the amount of interest which would have been paid to such Lender or accrued on such Lender’s Loans hereunder if
the Stated Rate had at all times been in effect. In the event, upon payment in full of all amounts payable hereunder, the total amount
of interest paid to any Lender or accrued on such Lender’s Loans under the terms of this Agreement is less than the total amount
of interest which would have been paid to such Lender or accrued on such Lender’s Loans if the Stated Rate had, at all times, been
in effect, then the Company shall, to the extent permitted by applicable law, pay to the Administrative Agent, for the account of such
Lender an amount equal to the difference between (a) the lesser of (i) the amount of interest which would have accrued on such
Lender’s Loans if the Maximum Rate for such Lender had at all times been in effect or (ii) the amount of interest which would
have accrued on such Lender’s Loans if the Stated Rate had at all times been in effect and (b) the amount of interest actually
paid to such Lender or accrued on its Loans under this Agreement. In the event any Lender ever receives, collects or applies as interest
any sum in excess of the Maximum Rate for such Lender, such excess amount shall be applied to the reduction of the principal balance
of its Loans or to other amounts (other than interest) payable hereunder, and if no such principal is then outstanding, such excess or
part thereof remaining shall be paid to the Company.

 

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Notwithstanding anything
to the contrary in this Agreement: (i) all Loans denominated in Dollars shall be Term Benchmark Loans or ABR Loans, (ii) Term
Benchmark Loans and ABR Loans may only be denominated in Dollars, (iii) all Loans denominated in Canadian Dollars shall be C$ Prime
Loans or CDOR Loans and (iv) all C$ Prime Loans or CDOR Loans may only be denominated in Canadian Dollars.

 

For purposes of the Interest
Act (Canada), (i) whenever any interest or fee under this Agreement is calculated using a rate based on a year of 360 days or
365 days (or such other period that is less than a calendar year), as the case may be, the rate determined pursuant to such calculation,
when expressed as an annual rate, is equivalent to (A) the applicable rate based on a year of 360 days or 365 days (or such other
period that is less than a calendar year), as the case may be, (B) multiplied by the actual number of days in the calendar year
in which the period for which such interest or fee is payable (or compounded) ends, and (C) divided by 360 or 365 (or such other
period that is less than a calendar year), as the case may be, (ii) the principle of deemed reinvestment of interest does not apply
to any interest calculation under this Agreement, and (iii) the rates of interest stipulated in this Agreement are intended to be
nominal rates and not effective rates or yields.

 

Section 5.
Payments; Pro Rata Treatment; Computations; Etc.

 

5.01.            Payments.

 

(a)            Except
to the extent otherwise provided herein, all payments of principal, interest, Reimbursement Obligations and other amounts to be made
by the Borrowers under the Revolving Commitments or the Term Loans shall be made in Dollars (except in the case of payments of principal
and interest on Loans or Reimbursement Obligations denominated in an Alternate Currency, which shall be made in such Alternate Currency),
in immediately available funds, to the Administrative Agent at an account in New York, New York specified by the Administrative Agent,
not later than 11:00 a.m. New York time on the date on which such payment shall become due (each such payment made after such time
on such due date to be deemed to have been made on the next succeeding Business Day). Each payment received by the Administrative Agent
for the account of another Person shall be paid promptly to such Person, in immediately available funds, to the account specified by
such Person to the Administrative Agent (which shall be, in the case of a Lender, its Applicable Lending Office). If the due date of
any such payment would otherwise fall on a day which is not a Business Day such date shall be extended to the next succeeding Business
Day and interest shall be payable for any principal so extended for the period of such extension.

 

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(b)            [Reserved].

 

(c)            All
payments made by the Company hereunder shall be made without set-off, deduction or counterclaim.

 

5.02.            Pro
Rata Treatment. With respect to each Class of Loans, except to the extent otherwise provided herein: (i) each borrowing
of such Class of Loans under Section 2.01 hereof shall be made by, each payment of commitment fees under Section 2.03
hereof shall be made for the account of, and each termination or reduction of the Commitments of such Class under Section 2.02
hereof shall be applied, in each case, pro rata to the Lenders of such Class, in accordance with their respective percentages
of the Commitments of such Class (or to the extent no Commitments are outstanding, the outstanding Loans and, if applicable Letter
of Credit Liabilities, of such Class outstanding), (ii) each payment by the Company of principal of or interest on Loans of
such Class of a particular Type (other than payments in respect of Loans of individual Lenders as provided for by Section 6
hereof or repurchases of the Loans of any Lender pursuant to Section 2.11) shall be made to the Administrative Agent for the account
of the Lenders of such Class pro rata in accordance with their respective unpaid principal amounts of the Loans of such Class and
(iii) each conversion of Loans of any Class of a particular Type (other than conversions of Loans of individual Lenders pursuant
to Section 6.04 hereof) shall be made pro rata among the Lenders of such Class in accordance with their respective principal
amounts of the Loans of such Class.

 

5.03.            Computations.
Interest and fees shall be computed on the basis of a year of 360 days (or 365 or 366 days, as the case may be, in the case of (a) ABR
Loans the interest rate payable on which is then based on the Prime Rate or (b) Loans denominated in Canadian Dollars) and actual
days elapsed (including the first day but excluding the last day) occurring in the period for which payable. The applicable Alternate
Base Rate, Adjusted Term SOFR Rate, Term SOFR Rate, CDOR Rate or C$ Prime Rate shall be determined by the Administrative Agent, and such
determination shall be conclusive absent manifest error.

 

5.04.            Minimum
and Maximum Amounts; Types.

 

(a)            Dollar-Denominated
Loans. Each borrowing, conversion and prepayment of principal of Dollar-denominated Loans shall be in an aggregate principal amount
equal to (a) in the case of Term Benchmark Loans, $1,000,000 or a larger multiple of $100,000, and (b) in the case of ABR Loans,
$100,000 or a larger multiple of $100,000 (borrowings, conversions or prepayments of Loans of different Types or, in the case of Term
Benchmark Loans, having different Interest Periods, at the same time hereunder to be deemed separate borrowings, conversions and prepayments
for purposes of the foregoing); provided that (i) any Loan may be in the aggregate amount of the unused portion of the relevant
Commitments and (ii) Loans may be prepaid in full.

 

(b)            Alternate
Currency Loans. Each borrowing, conversion and prepayment of principal of Loans denominated in an Alternate Currency (other than
Canadian Dollars) shall be in an aggregate principal amount which is an integral multiple of 100,000 units of the relevant Alternate
Currency and equal to or greater than an amount the Dollar Equivalent of which is $1,000,000; provided that (i) any Loan
may be in the aggregate amount of the unused portion of the relevant Commitments and (ii) Loans may be prepaid in full. Each borrowing,
conversion and prepayment of Loans denominated in Canadian Dollars shall be in a minimum aggregate face amount of C$1,000,000 or a whole
multiple of C$100,000 in excess thereof; provided that (i) any Loan may be in the aggregate amount of the unused portion
of the relevant Commitments and (ii) Loans may be prepaid in full.

 

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(c)            Dutch
Loans. Each Loan from any Lender or Affiliate to any Dutch Borrower shall at all times be (i) at least €1,000,000 (or its
equivalent in another Agreed Currency) and (ii) provided by a Non-public Lender.

 

5.05.            Certain
Notices.

 

(a)            Dollar-Denominated
Loans. Notices to the Administrative Agent of terminations or reductions of Commitments denominated in Dollars, of borrowings, conversions
and prepayments of Loans denominated in Dollars and of the duration of Interest Periods shall be irrevocable and shall be effective only
if received by the Administrative Agent (i) in the case of a notice of borrowing of, prepayment of, or conversion into, Loans denominated
in Dollars as ABR Loans, not later than 2:00 p.m. New York time on the relevant Borrowing Date and (ii) in the case of any
other notice, not later than 12:00 p.m. New York time on the number of Business Days prior to the date of the relevant termination,
reduction, borrowing, conversion and/or prepayment specified below:

 

	Notice	Number
    of Business Days Prior
	Termination
    or reduction of Revolving Commitments	3
	Borrowing
    or prepayment of, conversion of or into, or duration of Interest Period for Dollar-denominated Term Benchmark Loans	3
	Prepayments
    required pursuant to Section 3.02(b) or 3.02(c) in Dollars	1

 

; provided that the notice in respect of Borrowings
to be made on the A&R Closing Date may be conditional upon satisfaction (or waiver in accordance with the terms of the Amendment
and Restatement Agreement and this Agreement) of the conditions set forth in the Amendment and Restatement Agreement and this Agreement
so long as such conditions are so satisfied or waived within three Business Days after the original date contemplated for such Borrowing
set forth in such notice.

 

Each such notice of termination
or reduction shall specify the amount thereof to be terminated or reduced. Each such notice of borrowing, conversion or prepayment shall
specify the amount and Type of the Loans to be borrowed, converted or prepaid (subject to Section 5.04 hereof), the date of borrowing,
conversion or prepayment (which shall be a Business Day) and, in the case of Term Benchmark Loans, the duration of the Interest Period
therefor (subject to the definition of Interest Period). Each such notice of duration of an Interest Period shall specify the Loans to
which such Interest Period is to relate. The Administrative Agent shall promptly notify the affected Lenders of the contents of each
such notice. In the event that a Borrower fails to select the duration of any Interest Period for any Term Benchmark Loans within the
time period and otherwise as provided in this Section 5.05, such Loans will be continued (or made) as Term Benchmark Loans with
an Interest Period of one month.

 

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(b)           Alternate
Currency Loans. Notices to the Administrative Agent of borrowings and prepayments of Loans denominated in an Alternate Currency and
of the duration of Interest Periods shall be irrevocable and shall be effective only if received by the Administrative Agent not later
than 12:00 p.m. New York time on the number of Business Days prior to the date of the relevant termination, reduction, borrowing
and/or prepayment specified below:

 

	Notice	Number
    of Business Days Prior
	Termination
    or reduction of Revolving Commitments	3
	Borrowing
    or prepayment of, conversion of or into, or duration of Interest Period for CDOR or C$ Prime Loans	3
	Prepayments
    required pursuant to Section 3.02(b) or 3.02(c) in an Alternate Currency	1

 

; provided that, beginning on the date on which
Sumitomo Mitsui Banking Corporation (“SMBC”) or any of its Affiliates delivers written notice to both the Administrative
Agent and the Company that SMBC or any of its Affiliates or Lending Offices is permitted to fund borrowings of C$ Prime Loans to the
Canadian Borrowers on the same Business Day that a notice of such Borrowing is received by the Administrative Agent, notices of a borrowing
of, prepayment of, or conversion into, Loans denominated in Canadian Dollars as C$ Prime Loans, shall be effective if received by the
Administrative Agent not later than 12:00 p.m. New York time on the relevant date of such borrowing, prepayment or conversion.

 

Each such notice of termination
or reduction shall specify the amount thereof to be terminated or reduced. Each such notice of borrowing or prepayment shall specify
the amount of the Loans to be borrowed or prepaid (subject to Section 5.04 hereof) and Type of the Loans to be borrowed, the date
of borrowing or prepayment (which shall be a Business Day) and, in the case of CDOR Loans, the duration of the Interest Period therefor
(subject to the definition of Interest Period) and the currency of Loans to be borrowed. Each such notice of duration of an Interest
Period shall specify the Loans to which such Interest Period is to relate. The Administrative Agent shall promptly notify the affected
Lenders of the contents of each such notice. In the event that a Borrower fails to select the duration of any Interest Period for any
CDOR Loans within the time period and otherwise as provided in this Section 5.05, such Loans will be continued (or made) as CDOR
Loans with an Interest Period of one month.

 

5.06.        Non-Receipt
of Funds by the Administrative Agent. Unless the Administrative Agent shall have been notified by a Lender or the Company (the “Payor”)
prior to the date on which such Lender is to make payment to the Administrative Agent of the proceeds of a Loan to be made by it hereunder
or a Borrower is to make a payment to the Administrative Agent for the account of one or more of the Lenders or Issuing Banks, as the
case may be (such payment being herein called the “Required Payment”), which notice shall be effective upon receipt,
that the Payor does not intend to make the Required Payment to the Administrative Agent, the Administrative Agent may assume that the
Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available
to the intended recipient on such date and, if the Payor has not in fact made the Required Payment to the Administrative Agent, the recipient
of such payment shall, on demand, pay to the Administrative Agent the amount made available to it together with interest thereon in respect
of the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative
Agent recovers such amount at a rate per annum equal to the Federal Funds Effective Rate for such period or, in the case of an amount
payable in a currency other than Dollars, the rate determined by the Administrative Agent in its discretion of the appropriate rate for
interbank settlements.

 

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5.07.        Sharing
of Payments; Waiver of Enforcement Without Consent, Etc.

 

(a)           If,
other than as expressly provided elsewhere herein, any Lender shall obtain payment in respect of any principal of or interest on account
of the Loans of a particular Class made by it (whether voluntary, involuntary, through the exercise of any right of setoff, or otherwise)
in excess of its ratable share (or other share contemplated hereunder) thereof, it shall promptly notify the Administrative Agent and
purchase from the other Lenders of such Class participations in the Loans of such Class made or Letter of Credit Liabilities
of such Class held by the other Lenders of such Class in such amounts, and make such other adjustments from time to time, such
that all the Lenders of such Class shall share the benefit of such payment (net of any expenses which may be incurred by such Lender
in obtaining or preserving such benefit) pro rata in accordance with the unpaid principal and interest on the Loans then due to
each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or
otherwise) if such payment is rescinded or must otherwise be restored (including the payment of interest to the extent that the Lender
obligated to return such funds is obligated to return interest). The provisions of this paragraph shall not be construed to apply to
(A) any payment made by any Borrower pursuant to and in accordance with the express terms of this Agreement as in effect from time
to time (including Section 2.11), (B) any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Loans to any assignee or participant permitted hereunder or (C) any payment received by such Lender
not in its capacity as a Lender.

 

(b)           Nothing
contained herein shall require any Lender to exercise any right of set-off, banker’s lien, counterclaim or similar right or shall
affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness
or obligation of any Borrower.

 

(c)           This
Section 5.07 is for the benefit of the Lenders only and does not constitute a waiver of any rights against any Borrower or any of
their Subsidiaries or against any property held as security for any obligations hereunder or under any other Basic Document.

 

5.08.        Taxes.

 

(a)           Payments
Free of Taxes. Any and all payments by or on account of any obligation of any Borrower hereunder shall be made free and clear of
and without reduction or withholding for any Taxes, except as required by applicable law; provided, that if any Indemnified Taxes
(including, for the avoidance of doubt, any Other Taxes) are required to be withheld or deducted from such payments, then (i) the
sum payable by the applicable Borrower shall be increased as necessary so that after making all required deductions (including deductions
applicable to additional sums payable under this Section) the Administrative Agent, the Canadian Administrative Agent, any Lender or
any Issuing Bank, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made and
(ii) if any Borrower was the party required to make such deductions or withholdings under applicable law, such party shall make
such deductions and shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law.

 

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(b)           Payment
of Other Taxes by the Borrowers. Without limiting the provisions of paragraph (a) above, each Borrower shall timely pay any
Other Taxes to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely
reimburse it for the payment of, any Other Taxes.

 

(c)           Indemnification
by the Borrowers. Each Borrower shall indemnify the Administrative Agent, each Lender and each Issuing Bank, as the case may be,
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 5.08) paid or payable by the Administrative Agent, such Lender or such Issuing
Bank, as the case may be, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes
were correctly or legally imposed or asserted by the relevant Governmental Authority; provided, however, that no Borrower shall be liable
to indemnify any Lender or participant for any Taxes attributable to a Lender’s failure to comply with the provisions of Section 12.06
relating to maintenance of a Participant Register. A certificate as to the amount of such payment or liability delivered to such Borrower
by a Lender or an Issuing Bank (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf
of a Lender or an Issuing Bank, shall be conclusive absent manifest error.

 

(d)           Indemnification
by the Lenders. Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for (i) any
Indemnified Taxes attributable to such Lender (but only to the extent that the Borrowers have not already indemnified such parties for
such Indemnified Taxes and without limiting the obligation of the Borrowers to do so), (ii) any Taxes attributable to such Lender’s
failure to comply with the provisions of Section 12.06 relating to the maintenance of a Participant Register, and (iii) any
Excluded Taxes attributable to such Lender, in each case, that are paid or payable by the Administrative Agent in connection with this
Agreement and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to
any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent
to set off and apply any and all amounts at any time owing to such Lender under any Basic Document or otherwise payable by the Administrative
Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (d).

 

(e)           Evidence
of Payments. As soon as practicable after any payment of Taxes by a Borrower to a Governmental Authority pursuant to this Section 5.08,
such Borrower shall deliver to the Administrative Agent or the Canadian Administrative Agent, as the case may be, the original or a certified
copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other
evidence of such payment reasonably satisfactory to the Administrative Agent or the Canadian Administrative Agent, as the case may be.

 

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(f)            Status
of Lenders.

 

(i)            Any
Lender that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which a Borrower is
resident for tax purposes, or any treaty to which such jurisdiction is a party, with respect to payments hereunder shall deliver to such
Borrower (with a copy to the Administrative Agent or the Canadian Administrative Agent, as the case may be), at the time or times prescribed
by applicable law or reasonably requested by such Borrower or the Administrative Agent or the Canadian Administrative Agent, as the case
may be, such properly completed and executed documentation prescribed by applicable law as will permit such payments to be made without
withholding or at a reduced rate of withholding. In addition, any Lender, if requested by a Borrower or the Administrative Agent or the
Canadian Administrative Agent, as the case may be, shall deliver such other documentation prescribed by applicable law or reasonably
requested by such Borrower or the Administrative Agent or the Canadian Administrative Agent, as the case may be, as will enable such
Borrower or the Administrative Agent or the Canadian Administrative Agent, as the case may be, to determine whether or not such Lender
is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the foregoing, the
completion, execution and submission of any such documentation for the benefit of a Borrower (other than such documentation set forth
in Section 5.08(f)(ii)(I), (II) and (IV) below) shall not be required if in the Lender’s judgment such completion,
execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal
or commercial position of such Lender.

 

(ii)           Without
limiting the generality of the foregoing, with respect to the Parent, the Company and any other Borrower that is resident for tax purposes
in the United States of America,

 

(I)            any
Lender that is resident for tax purposes in the United States of America shall deliver to the Parent, the Company or such other Borrower
and the Administrative Agent, as the case may be, on or prior to the date on which such Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the reasonable request of the Parent, the Company, any other Borrower or the Administrative Agent,
as the case may be), executed copies of Internal Revenue Service Form W-9 certifying that such Lender is exempt from United States
Federal backup withholding tax,

 

(II)          any
Foreign Lender (such term to mean, solely for purposes of this Section 5.08(f)(ii)(II), any Lender that is organized under the laws
of a jurisdiction other than the United States of America, each State thereof and the District of Columbia), or, in the case of clause
(4) below, any Lender, shall deliver to the Parent, the Company or any such other Borrower and the Administrative Agent, as the
case may be (in such number of copies as shall be requested by the recipient), on or prior to the date on which it becomes a Lender under
this Agreement (and from time to time thereafter upon the request of the Parent, the Company, any other Borrower or the Administrative
Agent, as the case may be, but only if such Lender is legally entitled to do so) whichever of the following is applicable:

 

(1)           in
the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect
to payments of interest under any Basic Document, duly completed copies of Internal Revenue Service Form W-8BEN or Form W-8BEN-E,
as applicable, establishing an exemption from, or reduction of, United States Federal withholding tax pursuant to the “interest”
article of such tax treaty and (y) with respect to any other applicable payments under any Basic Document, duly completed copies
of Internal Revenue Service Form W-8BEN or Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, United
States Federal withholding tax pursuant to the “business profits” or “other income” article of
such tax treaty,

 

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(2)           duly
completed copies of Internal Revenue Service Form W-8ECI,

 

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

 

(4)           to
the extent a Foreign Lender is not the beneficial owner, executed copies of Internal Revenue Service Form W-8IMY, accompanied by
Internal Revenue Service Form W-8ECI, Internal Revenue Service Form W-8BEN or Form W-8BEN-E, a U.S. Tax Compliance
Certificate substantially in the form of Exhibit P-2 or Exhibit P-3, Internal Revenue Service 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 P-4 on behalf of each such direct and indirect partner,

 

(III)         any
other form (including Internal Revenue Service Form W-8IMY (together with any applicable underlying Internal Revenue Service forms))
prescribed by applicable law as a basis for claiming exemption from or a reduction in United States Federal withholding tax duly completed
together with such supplementary documentation as may be prescribed by applicable law to permit the Parent, the Company, any other Borrower
or the Administrative Agent to determine the withholding or deduction required to be made, or

 

(IV)         if
a payment made to a Lender under this Agreement would be subject to United States 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 Code, as applicable), such Lender shall deliver to the Parent, the Company, any other Borrower or the Administrative
Agent, as the case may be, at the time or times prescribed by law and at such time or times reasonably requested by the Parent, the Company,
any other Borrower or the Administrative Agent, such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of
the Code) and such additional documentation reasonably requested by the Parent, the Company, any other Borrower or the Administrative
Agent as may be necessary for it to comply with its obligations under FATCA, to determine that such Lender has or has not complied with
such Lender's obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this
Section 5.08(f)(ii)(IV), “FATCA” shall include any amendments made to FATCA after the Original Closing Date.

 

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

 

(g)           Additional
United Kingdom Withholding Tax Matters.

 

(i)            Subject
to (ii) below, each Lender and each UK Borrower which makes a payment to such Lender shall cooperate in completing any procedural
formalities necessary for such UK Borrower to obtain authorization to make such payment without withholding or deduction for Taxes imposed
under the laws of the United Kingdom.

 

(ii)

 

(I)            A
Lender on the Effective Date that (x) holds a passport under the HMRC DT Treaty Passport scheme and (y) wishes such scheme
to apply to this Agreement, shall provide its scheme reference number and its jurisdiction of tax residence to each UK Borrower and the
Administrative Agent; and

 

(II)           a
Lender which becomes a Lender hereunder after the day on which this Agreement closes that (x) holds a passport under the HMRC DT
Treaty Passport scheme and (y) wishes such scheme to apply to this Agreement, shall provide its scheme reference number and its
jurisdiction of tax residence to each UK Borrower and the Administrative Agent, and

 

(III)         Upon
satisfying either clause (A) or (B) above, such Lender shall have satisfied its obligation under paragraph (g)(i) above.

 

(iii)          If
a Lender has confirmed its scheme reference number and its jurisdiction of tax residence in accordance with paragraph (g)(ii) above,
the UK Borrower(s) shall make a Borrower DTTP Filing with respect to such Lender, and shall promptly provide such Lender with a
copy of such filing; provided that, if:

 

(I)            each
UK Borrower making a payment to such Lender has not made a Borrower DTTP Filing in respect of such Lender; or

 

(II)          each
UK Borrower making a payment to such Lender has made a Borrower DTTP Filing in respect of such Lender but:

 

(1)           such
Borrower DTTP Filing has been rejected by HM Revenue & Customs; or

 

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(2)           HM
Revenue & Customs has not given such UK Borrower authority to make payments to such Lender without a deduction for tax within
60 days of the date of such Borrower DTTP Filing;

 

and in each case, such UK Borrower
has notified that Lender in writing of either (1) or (2) above, then such Lender and such UK Borrower shall co-operate in completing
any additional procedural formalities necessary for such UK Borrower to obtain authorization to make that payment without withholding
or deduction for Taxes imposed under the laws of the United Kingdom.

 

(iv)          If
a Lender has not confirmed its scheme reference number and jurisdiction of tax residence in accordance with paragraph (g)(ii) above,
no UK Borrower shall make a Borrower DTTP Filing or file any other form relating to the HMRC DT Treaty Passport scheme in respect of
that Lender’s Commitment(s) or its participation in any Loan unless the Lender otherwise agrees.

 

(v)           Each
UK Borrower shall, promptly on making a Borrower DTTP Filing, deliver a copy of such Borrower DTTP Filing to the Administrative Agent
for delivery to the relevant Lender.

 

(vi)          Each
Lender shall notify each Borrower and Administrative Agent if it determines in its sole discretion that it is ceases to be entitled to
claim the benefits of an income tax treaty to which the United Kingdom is a party with respect to payments made by any U.K. Borrower
hereunder.

 

(h)           FATCA
Grandfathering. For purposes of determining withholding taxes imposed under FATCA, from and after the Original Closing Date of this
Agreement, the Borrowers and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat)
the Existing Credit Agreement (together with any loans or other extensions of credit pursuant thereto) as not qualifying as a “grandfathered
obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i) and related temporary regulations.

 

(i)            Treatment
of Certain Refunds. If the Administrative Agent, the Canadian Administrative Agent, a Lender or an Issuing Bank determines, in its
sole discretion, that it has received a refund of any Indemnified Taxes or Other Taxes as to which it has been indemnified by a Borrower
or with respect to which any Borrower has paid additional amounts pursuant to this Section, it shall pay to such Borrower an amount equal
to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by such Borrower under this Section with
respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of the Administrative
Agent, such Lender or such Issuing Bank, as the case may be, and without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund), provided that each Borrower, upon the request of the Administrative Agent, agrees to repay the
amount paid over to such Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the
Administrative Agent, such Lender or such Issuing Bank in the event the Administrative Agent, such Lender or such Issuing Bank is required
to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (i), in no event will
the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (i) the payment of which
would place the indemnified party in a less favorable net after-Tax position than the indemnified party 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. This paragraph shall not be construed to require the Administrative
Agent, any Lender or any Issuing Bank to make available its Tax returns (or any other information relating to its Taxes that it deems
confidential) to the Borrowers or any other Person.

 

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(j)            Survival.
Each party's obligations under this Section 5.08 shall survive any resignation or replacement of the Administrative Agent or any
assignment of rights by, or the replacement of, a Lender, the termination of the Revolving Commitments and the repayment, satisfaction
or discharge of all other obligations under this Agreement.

 

5.09.        Judgment
Currency. If for the purpose of obtaining judgment in any court it is necessary to convert a sum due from a Borrower hereunder in
the currency expressed to be payable herein (the “specified currency”) into another currency, the parties hereto agree,
to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal
banking procedures the Administrative Agent could purchase the specified currency with other such currency at the Administrative Agent’s
New York Office on the Business Day that is on or immediately following the day on which final judgment is given. The obligations of
the Borrowers in respect of any sum due to any Lender, the Administrative Agent, the Canadian Administrative Agent or any Issuing Bank
hereunder shall, notwithstanding any judgment in a currency other than the specified currency, be discharged only to the extent that
on the Business Day following receipt by such Lender, the Administrative Agent, the Canadian Administrative Agent or such Issuing Bank
of any sum adjudged to be so due in such other currency, such Lender, the Administrative Agent, the Canadian Administrative Agent or
such Issuing Bank may in accordance with normal banking procedures purchase the specified currency with such other currency. If the amount
of the specified currency so purchased is less than the sum originally due to such Lender, the Administrative Agent, the Canadian Administrative
Agent or such Issuing Bank, as the case may be, in the specified currency, each of the Borrowers agrees, to the fullest extent it may
effectively do so, as a separate obligation and notwithstanding any such judgment, to indemnify such Lender, the Administrative Agent,
the Canadian Administrative Agent or such Issuing Bank, against such loss, and if the amount of the specified currency so purchased exceeds
the sum originally due to any Lender, the Administrative Agent, the Canadian Administrative Agent or such Issuing Bank in the specified
currency, such Lender, the Administrative Agent, the Canadian Administrative Agent or such Issuing Bank, agrees to remit such excess
to the Borrowers.

 

Section 6.
Yield Protection and Illegality.

 

6.01.        Additional
Costs.

 

(a)           The
Company shall pay to the Administrative Agent for the account of each Lender from time to time such amounts as such Lender may determine
to be necessary to compensate it for any costs incurred by such Lender which such Lender determines are attributable to its making, maintaining,
converting or continuing of any Loans hereunder to the Company or any other Borrower or its obligation to make any of such Loans hereunder
to the Company or any other Borrower, or any reduction in any amount receivable by such Lender in respect of any of such Loans or such
obligation (such increases in costs and reductions in amounts receivable being herein called “Additional Costs”),
in each case resulting from any Regulatory Change which:

 

(i)            subjects
the Lender or Issuing Bank to Taxes on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits,
reserves, other liabilities or capital attributable thereto (other than Indemnified Taxes covered by Section 5.08 and Excluded Taxes);
or

 

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(ii)           imposes,
modifies or deems applicable any reserve, special deposit, liquidity or similar requirement (including any compulsory loan requirement,
insurance charge or other assessment) against assets of, deposits with or for the account of, or credit extended by, any Lender (except
any such reserve requirement reflected in the Adjusted Term SOFR Rate) or Issuing Bank; or

 

(iii)          imposes
any other condition, cost or expense affecting this Agreement (or any of such extensions of credit or liabilities).

 

Each Lender (such term to
include the Issuing Bank for purposes of this Section 6.01(a), solely in the case of and with respect to (i) above) will notify
the Company through the Administrative Agent of any event occurring after the Original Closing Date which will entitle such Lender to
compensation pursuant to this Section 6.01(a) (an “Additional Cost Event”) as promptly as practicable after
it obtains knowledge thereof and determines to request such compensation, provided, that the Company shall not be obligated to
compensate such Lender for any such Additional Costs incurred more than 180 days prior to the time the Lender first notifies the Company
of such Additional Cost Event (or such longer period if such Additional Cost Event is given retroactive effect). Each Lender will furnish
the Company with a statement setting forth the calculations and the basis therefor, in each case in reasonable detail, and amount of
each request by such Lender for compensation under this Section 6.01(a). If any Lender requests compensation from the Company under
this Section 6.01(a), the Company may, by notice to such Lender through the Administrative Agent, suspend the obligation of such
Lender to make additional Loans of the Type for which compensation is requested to the Company until the Regulatory Change giving rise
to such request ceases to be in effect (in which case the provisions of Section 6.04 hereof shall be applicable).

 

(b)           Without
limiting the effect of the foregoing provisions of this Section 6.01, in the event that, by reason of any Regulatory Change, any
Lender either (i) incurs Additional Costs based on or measured by the excess above a specified level of the amount of a category
of deposits or other liabilities of such Lender which includes deposits by reference to which the interest rate on Term Benchmark Loans
or CDOR Loans, as the case may be, is determined as provided in this Agreement or a category of extensions of credit or other assets
of such Lender which includes Term Benchmark Loans or CDOR Loans, as the case may be, or (ii) becomes subject to restrictions on
the amount of such a category of liabilities or assets which it may hold, then, if such Lender so elects by notice to the Company (with
a copy to the Administrative Agent), the obligation of such Lender to make Term Benchmark Loans or CDOR Loans, as the case may be, hereunder
shall be suspended until the date such Regulatory Change ceases to be in effect (in which case the provisions of Section 6.04 hereof
shall be applicable).

 

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(c)           Determinations
and allocations by any Lender for purposes of this Section 6.01 of the effect of any Regulatory Change on its costs of maintaining
its obligations to make Loans or of making or maintaining Loans or on amounts receivable by it in respect of Loans, and of the additional
amounts required to compensate such Lender in respect of any Additional Costs, shall be conclusive absent manifest error, provided
that such determinations and allocations are made on a reasonable basis.

 

(d)           If
any Lender demands compensation under this Section, the Company may, at any time upon at least three (3) Business Days’ prior
notice to such Lender through the Administrative Agent, convert in full the then outstanding Term Benchmark Loans denominated in Dollars
of such Lender (in which case the Company shall be obligated, if such conversion is made on a day that is not the last day of the then
current Interest Period applicable to such affected Term Benchmark Loan, to reimburse such Lender, in accordance with Section 6.05,
for any resulting loss or expense incurred by it) to an ABR Loan.

 

6.02.        Alternate
Rate of Interest.

 

(a)           Subject
to clauses (b), (c), (d), (e) and (f) of this Section 6.02, if:

 

(i)          the
Administrative Agent determines (which determination shall be conclusive absent manifest error) (A) prior to the commencement of
any Interest Period for a Term Benchmark Borrowing or a CDOR Borrowing, that adequate and reasonable means do not exist for ascertaining
the Adjusted Term SOFR Rate, the Term SOFR Rate or the CDOR Rate (including because the Term SOFR Reference Rate or CDOR Rate is not
available or published on a current basis), for such Interest Period or (B) at any time, that adequate and reasonable means do not
exist for ascertaining the applicable Adjusted Daily Simple SOFR or Daily Simple SOFR; or

 

(ii)           the
Administrative Agent is advised by the Majority Lenders that (A) prior to the commencement of any Interest Period for a Term Benchmark
Borrowing or CDOR Borrowing, the Adjusted Term SOFR Rate or CDOR Rate for such Interest Period will not adequately and fairly reflect
the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest
Period or (B) at any time, Adjusted Daily Simple SOFR will not adequately and fairly reflect the cost to such Lenders (or Lender)
of making or maintaining their Loans (or its Loan) included in such Borrowing;

 

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then
the Administrative Agent shall give notice thereof to the Parent and the Lenders by telephone, telecopy or electronic mail as promptly
as practicable thereafter and, until (x) the Administrative Agent notifies the Parent and the Lenders that the circumstances giving
rise to such notice no longer exist with respect to the relevant Benchmark and (y) the applicable Borrower delivers a new Interest
Election Request in accordance with the terms of Section 2.08 or a new Borrowing Request in accordance with the terms of Section 2.03,
(A) for Loans denominated in Dollars, (1) any requests for the conversion of any Borrowing to, or continuation of any Borrowing
as, a Term Benchmark Borrowing and any borrowing request that requests a Term Benchmark Borrowing shall instead be deemed to be a request
for (x) an RFR Borrowing so long as the Adjusted Daily Simple SOFR is not also the subject of Section 6.02(a)(i) or
(ii) above or (y) an ABR Borrowing if the Adjusted Daily Simple SOFR also is the subject of Section 6.02(a)(i) or
(ii) above and (2) any Borrowing Request that requests an RFR Borrowing shall instead be deemed to be a Borrowing Request,
as applicable, for an ABR Borrowing, and (B) for Loans denominated in Canadian Dollars, any request for the conversion of any Borrowing
to, or continuation of any Borrowing as, a CDOR Borrowing and any borrowing request that requests a CDOR Borrowing shall instead be a
deemed a request for a C$ Prime Rate Borrowing; provided that if the circumstances giving rise to such notice affect only one Type
of Borrowings, then all other Types of Borrowings shall be permitted. Furthermore, if any Term Benchmark Loan, RFR Loan or CDOR Loan
is outstanding on the date of the Parent’s receipt of the notice from the Administrative Agent referred to in this Section 6.02(a) with
respect to a Relevant Rate applicable to such Term Benchmark Loan, RFR Loan or CDOR Loan, then until (x) the Administrative Agent
notifies the Parent and the Lenders that the circumstances giving rise to such notice no longer exist with respect to the relevant Benchmark
and (y) the applicable Borrower delivers a new request in accordance with the terms of Section 5.05, (A) for Loans denominated
in Dollars, (1) any Term Benchmark Loan shall on the last day of the Interest Period applicable to such Loan (or the next succeeding
Business Day if such day is not a Business Day), be converted by the Administrative Agent to, and shall constitute, (x) an RFR Borrowing
so long as the Adjusted Daily Simple SOFR is not also the subject of Section 6.02(a)(i) or (ii) above or (y) an ABR
Loan if the Adjusted Daily Simple SOFR also is the subject of Section 6.02(a)(i) or (ii) above, on such day, and (2) any
RFR Loan shall on and from such day be converted by the Administrative Agent to, and shall constitute an ABR Loan and (B) for Loans
denominated in an Canadian Dollars, any CDOR Loan shall on the last day of the Interest Period applicable to such Loan (or the next succeeding
Business Day if such day is not a Business Day), be converted by the Administrative Agent to, and shall constitute, a C$ Prime Rate Loan.

 

(b)           Notwithstanding
anything to the contrary herein or in any other Basic Document (and any Hedging Agreement or Cash Management Agreement shall be deemed
not to be a “Basic Document” for purposes of this Section 6.02), if a Benchmark Transition Event and its related Benchmark
Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then such Benchmark
Replacement will replace such Benchmark for all purposes hereunder and under any Basic Document in respect of any Benchmark setting at
or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided
to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Basic Document
so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders
comprising the Majority Lenders of each affected Class.

 

(c)           Notwithstanding
anything to the contrary herein or in any other Basic Document, the Administrative Agent will have the right, in consultation with the
Parent, to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in
any other Basic 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 or any other Basic Document.

 

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(d)           The
Administrative Agent will promptly notify the Parent and the Lenders of (i) any occurrence of a Benchmark Transition Event, (ii) the
implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes, (iv) the
removal or reinstatement of any tenor of a Benchmark pursuant to clause (f) below and (v) the commencement or conclusion of
any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administrative Agent or, if applicable,
any Lender (or group of Lenders) pursuant to this Section 6.02, 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 or
any selection, 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 to this Agreement or any other Basic Document, except, in each case, as expressly required pursuant to this Section 6.02.

 

(e)           Notwithstanding
anything to the contrary herein or in any other Basic Document, at any time (including in connection with the implementation of a Benchmark
Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR Rate or the CDOR Rate) and either (ii) any
tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected
by the Administrative Agent in its reasonable discretion or (iii) the regulatory supervisor for the administrator of such Benchmark
has provided a public statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative,
then the Administrative Agent may modify the definition of “Interest Period” for any Benchmark settings at or after such
time to remove such unavailable or non-representative tenor and (iv) if a tenor that was removed pursuant to clause (i) above
either (I) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (II) is
not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark (including a Benchmark
Replacement), then the Administrative Agent may modify the definition of “Interest Period” for all Benchmark settings at
or after such time to reinstate such previously removed tenor.

 

(f)            Upon
the Parent’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrowers may revoke any request for
a Term Benchmark Borrowing, RFR Borrowing or CDOR Borrowing of, conversion to or continuation of Term Benchmark Loans or CDOR Loans to
be made, converted or continued during any Benchmark Unavailability Period and, failing that, either (x) the applicable Borrowers
will be deemed to have converted any request for (1) a Term Benchmark Borrowing into a request for a Borrowing of or conversion
to (A) an RFR Borrowing so long as the Adjusted Daily Simple SOFR is not the subject of a Benchmark Transition Event or (B) an
ABR Borrowing if the Adjusted Daily Simple SOFR is the subject of a Benchmark Transition Event or (y) the applicable Borrowers will
be deemed to have converted any request for a CDOR Borrowing into a request for a C$ Prime Rate Borrowing. During any Benchmark Unavailability
Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of ABR based upon the then-current
Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of ABR and the component of the C$ Prime
Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of
C$ Prime Rate. Furthermore, if any Term Benchmark Loan, CDOR Loan or RFR Loan is outstanding on the date of the Parent’s receipt
of notice of the commencement of a Benchmark Unavailability Period with respect to a Relevant Rate applicable to such Term Benchmark
Loan, CDOR Loan or RFR Loan, then until such time as a Benchmark Replacement is implemented pursuant to this Section 6.02, (A) for
loans denominated in Dollars, (1) any Term Benchmark Loan shall on the last day of the Interest Period applicable to such Loan (or
the next succeeding Business Day if such day is not a Business Day), be converted by the Administrative Agent to, and shall constitute,
(x) an RFR Borrowing so long as the Adjusted Daily Simple SOFR is not the subject of a Benchmark Transition Event or (y) an
ABR Loan if the Adjusted Daily Simple SOFR is the subject of a Benchmark Transition Event, on such day and (2) any RFR Loan shall
on and from such day be converted by the Administrative Agent to, and shall constitute an ABR Loan and (B) for Loans denominated
in Canadian Dollars, any CDOR Loan shall on the last day of the Interest Period applicable to such Loan (or the next succeeding Business
Day if such day is not a Business Day), be converted by the Administrative Agent to, and shall constitute a C$ Prime Rate Loan.

 

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6.03.        Illegality.
If, in any applicable jurisdiction, the Administrative Agent, any Issuing Bank or any Lender determines that any law has made it unlawful,
or that any Governmental Authority has asserted that it is unlawful, for the Administrative Agent, any Issuing Bank or any Lender to
(i) perform its obligations hereunder or under any other Base Document with respect to Term Benchmark Loans or CDOR Loans, (ii) fund
or maintain its participation in any Term Benchmark Loan or CDOR Loan an or (iii) issue, make, maintain, fund or charge interest
with respect to any such Loan, such Person shall promptly notify the Administrative Agent, and upon the Administrative Agent notifying
the Parent, and until such notice by such Person is revoked, any obligation of such Person to issue, make, maintain, fund or charge interest
with respect to any such Loan shall be suspended, and to the extent required by applicable law, cancelled.

 

6.04.        Substitute
ABR Loans. If the obligation of any Lender to make Term Benchmark Loans shall be suspended pursuant to Section 6.01, 6.02 or
6.03 hereof, all Loans in Dollars which would otherwise be made by such Lender as Term Benchmark Loans shall be made instead as ABR Loans
(and, if an event referred to in Section 6.01(b) or 6.03 hereof has occurred and such Lender so requests by notice to the Company
with a copy to the Administrative Agent, each Dollar-denominated Term Benchmark Loan of such Lender then outstanding shall be automatically
converted into an ABR Loan on the date specified by such Lender in such notice) and, to the extent that Term Benchmark Loans are so made
as (or converted into) ABR Loans, all payments of principal which would otherwise be applied to such Term Benchmark Loans shall be applied
instead to such ABR Loans. If the obligation of any Lender to make CDOR Loans shall be suspended pursuant to Section 6.01, 6.02
or 6.03 hereof, all Loans in Canadian Dollars which would otherwise be made by such Lender as CDOR Loans shall be made instead as C$
Prime Loans (and, if an event referred to in Section 6.01(b) or 6.03 hereof has occurred and such Lender so requests by notice
to the Company with a copy to the Administrative Agent, each Canadian Dollar-denominated CDOR Loan of such Lender then outstanding shall
be automatically converted into a C$ Prime Loans Loan on the date specified by such Lender in such notice) and, to the extent that CDOR
Loans are so made as (or converted into) C$ Prime Loans, all payments of principal which would otherwise be applied to such CDOR Loans
shall be applied instead to such C$ Prime Loans.

 

6.05.        Compensation.
The Company shall pay to the Administrative Agent for the account of each Lender, upon the request of such Lender through the Administrative
Agent, such amount or amounts as shall be sufficient (in the reasonable opinion of such Lender) to compensate it for any loss, cost or
expense incurred by it as a result of:

 

(1)           any
payment, prepayment or conversion (including, without limitation, an automatic conversion pursuant to Section 10.02 hereof) of a
Term Benchmark Loan or CDOR Loan made by such Lender to the Company or any other Borrower on a date other than the last day of an Interest
Period for such Loan;

 

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(2)           any
failure by the Company or any other Borrower to borrow a Term Benchmark Loan or a CDOR Loan to be made by such Lender to the Company
or such other Borrower on the date for such borrowing specified in the relevant notice of borrowing under Section 5.05 hereof;

 

(3)           any
failure by the Company or any other Borrower to prepay a Term Benchmark Loan or a CDOR Loan on the date specified in a notice of prepayment;
or

 

(4)           any
substitution of a Lender under Section 6.07 hereof on a date other than the last day of an Interest Period for each Loan of such
Lender;

 

but excluding, in any event, loss of margin for
the period after any such payment, prepayment or conversion or failure to borrow; provided that such Lender shall have delivered
to the Company a certificate as to the amount of such loss and expense along with the calculation and the basis therefor, in each case
in reasonable detail.

 

6.06.        Capital
Adequacy. If any Lender shall determine that any Regulatory Change regarding capital adequacy or liquidity after the Original Closing
Date, or any change therein after the Original Closing Date, or any change after the Original Closing Date in the interpretation or administration
thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or
compliance by any Lender (or its Applicable Lending Office) with any request or directive regarding capital adequacy or liquidity (whether
or not having the force of law) of any such authority, central bank or comparable agency, has or would have the effect of reducing the
rate of return on capital of such Lender or any Person controlling such Lender (a “Lender Parent”) as a consequence
of its obligations hereunder to a level below that which such Lender (or its Lender Parent) could have achieved but for such Regulatory
Change (taking into consideration its policies with respect to capital adequacy and liquidity) by an amount deemed by such Lender to
be material, then from time to time, within 15 days after demand by such Lender (with a copy to the Administrative Agent), the Company
shall pay to such Lender such additional amount or amounts as will compensate such Lender for such reduction. A statement of any Lender
claiming compensation under this Section and setting forth the additional amount or amounts to be paid to it hereunder shall be
conclusive absent manifest error; provided that the determination thereof is made on a reasonable basis; and provided further
that the Company shall not be obligated to compensate such Lender for any such reduction occurring more than 180 days prior to the
time such Lender first notifies the Company of such Regulatory Change. In determining such amount, such Lender may use any reasonable
averaging and attribution methods.

 

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6.07.        Mitigation
Obligations; Substitution of Lender.

 

(a)           If
any Lender requests compensation under Section 6.01, 6.06 or 6.08, or requires the Company or any other Borrower to pay any Indemnified
Taxes (including, for the avoidance of doubt, any Other Taxes) or additional amounts to any Lender or any Governmental Authority for
the account of any Lender pursuant to Section 5.08, then such Lender shall (at the request of the Company) use reasonable efforts
to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder
to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would
eliminate or reduce amounts payable pursuant to Section 6.01, 6.06, 6.08 or 5.08, as the case may be, in the future, and (ii) would
not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Company hereby
agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.

 

(b)           If
(i) the obligation of any Lender to make Term Benchmark Loans or CDOR Loans or the right of the Company to convert ABR Loans of
any Lender to Term Benchmark Loans has been suspended pursuant to Section 6.03, (ii) any Lender has demanded compensation under
Section 6.01, 6.06 or 6.08, or (iii) any Lender requests reimbursement for amounts owing pursuant to Section 5.08, the
Company shall have the right, with the assistance of the Administrative Agent, to seek a substitute bank or banks (which may be one or
more of the Lenders) satisfactory to Company and the Administrative Agent to assume the Commitments and Loans of such Lender. Any such
Lender shall be obligated to sell Loans and Revolving Commitments for cash without recourse to such substitute bank or banks and to execute
and deliver an appropriately completed assignment and assumption agreement reasonably satisfactory to the Administrative Agent and the
Company and any other document or perform any act reasonably necessary to effect the assumption of the rights and obligations of such
substitute bank or banks.

 

6.08.        Additional
Costs in Respect of Letters of Credit. Without limiting the obligations of the Borrowers under Section 6.01 hereof (but without
duplication), if as a result of any Regulatory Change or any risk-based capital guideline or other requirement heretofore or hereafter
issued by any government or governmental or supervisory authority, there shall be imposed, modified or deemed applicable any Tax (other
than Indemnified Taxes covered by Section 5.08 and Excluded Taxes), reserve, special deposit, capital adequacy or similar requirement
against or with respect to or measured by reference to Letters of Credit issued or to be issued hereunder and the result shall be to
increase the cost to any Lender or Lenders of issuing (or purchasing participations in) or maintaining its obligation hereunder to issue
(or purchase participations in) any Letter of Credit hereunder or reduce any amount receivable by any Lender hereunder in respect of
any Letter of Credit (which increases in cost, or reductions in amount receivable, shall be the result of such Lender’s or Lenders’
reasonable allocation of the aggregate of such increases or reductions resulting from such event), then, upon demand by such Lender or
Lenders (through the Administrative Agent), the relevant Borrower shall pay immediately to the Administrative Agent for account of such
Lender or Lenders, from time to time as specified by such Lender or Lenders (through the Administrative Agent), such additional amounts
as shall be sufficient to compensate such Lender or Lenders (through the Administrative Agent) for such increased costs or reductions
in amount. A statement as to such increased costs or reductions in amount incurred by any such Lender or Lenders, showing calculations
and the basis therefor in reasonable detail, submitted by such Lender or Lenders to the relevant Borrower, shall be conclusive in the
absence of manifest error as to the amount thereof.

 

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Section 7.
Conditions Precedent.

 

7.01.        [Reserved].

 

7.02.        [Reserved].

 

7.03.        Initial
and Subsequent Loans. The obligation of each Lender to make any Loan to be made by it hereunder, and the obligation of any Issuing
Bank to issue any Letter of Credit hereunder, is subject to the conditions precedent that, as of the date of such Loan or such issuance,
and before and after giving effect thereto:

 

(1)           no
Default shall have occurred and be continuing; and

 

(2)           the
representations and warranties made by each of the Borrowers and the other Obligors in each Basic Document to which it is a party shall
be true in all material respects (except for those representations and warranties qualified by materiality, which shall be true in all
respects) on and as of the date of the making of such Loan or such issuance, with the same force and effect as if made on and as of such
date (except to the extent such representations and warranties relate to an earlier date, in which event they shall be true in all material
respects (except for those representations and warranties qualified by materiality, which shall be true in all respects) on and as of
such earlier date); provided that the representations and warranties set forth in Section 8.10 hereof need be true only as
of the A&R Closing Date.

 

Each notice of borrowing
by a Borrower hereunder shall constitute a certification by such Borrower to the effect set forth in the preceding sentence (both as
of the date of such notice and, unless any of the Borrowers otherwise notifies the Administrative Agent prior to the date of such borrowing
or issuance, as of the date of such borrowing or issuance).

 

Section 8.
Representations and Warranties. Each of the Parent and the Company jointly and severally represents and warrants to the
Administrative Agent, the Canadian Administrative Agent and to each of the Lenders and the Issuing Banks, as of the A&R Closing Date
and on the date of each Loan and of the issuance of each Letter of Credit, as follows:

 

8.01.        Corporate
Existence. Each of the Parent and its Subsidiaries: (a) is duly organized, validly existing and in good standing under the laws
of the jurisdiction of its formation except (other than in the case of the Parent or any Borrower) where the failure to be so duly organized,
validly existing or in good standing would not have a Material Adverse Effect; (b) has all requisite power, and has all governmental
licenses, authorizations, consents, permits and approvals (including any license, authorization, consent, permit and approval required
under any Environmental Law) necessary to own its assets and carry on its business as now being or as proposed to be conducted (except
such licenses, authorizations, consents and approvals the lack of which, in the aggregate, would not have a Material Adverse Effect);
and (c) is qualified to do business in all jurisdictions in which the nature of the business conducted by it makes such qualification
necessary and where failure so to qualify would have a Material Adverse Effect.

 

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8.02.        Information.

 

(a)           (i) The
Company has heretofore furnished to each of the Lenders the consolidated balance sheets of the Parent and its Subsidiaries as at December 31,
2021 and the related consolidated statements of income, retained earnings and cash flows of the Parent and its Subsidiaries, respectively,
for the fiscal year ended on said date, with the opinion thereon of the independent public accountants referred to therein. All such
financial statements are complete and correct and fairly present the consolidated financial condition of the Parent and its Subsidiaries
as at said dates and the consolidated results of their operations for the fiscal years ended on said dates, all in accordance with generally
accepted accounting principles and practices applied on a consistent basis.

 

(ii)           [Reserved].

 

(b)           The
information, reports, financial statements, exhibits and schedules furnished in writing by or on behalf of the Obligors to the Administrative
Agent or any Lender in connection with the negotiation, preparation or delivery of this Agreement and the other Basic Documents or included
herein or therein or delivered pursuant hereto or thereto (other than projections, forecasts or information of a general economic or
industry-specific nature), when taken as a whole, do not contain any untrue statement of material fact or omit to state any material
fact necessary to make the statements herein or therein, in light of the circumstances under which they were made, not materially misleading;
provided, that with respect to any such information, report, financial statement, exhibit or schedule to the extent that it was
based upon or constitutes a forecast or projection, the Company represents only that it acted in good faith and utilized assumptions
believed by it to be reasonable at the time (it being understood that forecasts and projections are subject to significant uncertainties
and contingencies, many of which are beyond the Company’s control, and that no assurances can be given that such forecasts and
projections will be realized).

 

(c)           Since
December 31, 2021, there has been no event, development or circumstance that has had or would reasonably be expected to have a Material
Adverse Effect.

 

(d)           As
of the A&R Closing Date, to the best knowledge of the Parent, the information included in the Beneficial Ownership Certification
provided on or prior to the A&R Closing Date to any Lender in connection with this Agreement is true and correct in all material
respects.

 

8.03.        Litigation.
There are no legal or arbitral proceedings or any proceedings by or before any Governmental Authority or agency, now pending or, to the
knowledge of the Company, threatened against or affecting the Parent or any of its Subsidiaries which has had, or would reasonably be
expected to have a Material Adverse Effect or, to the knowledge of the Company, which questions the validity or enforceability of any
Basic Document.

 

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8.04.        No
Breach. None of the execution and delivery of the Basic Documents, the consummation of the transactions therein contemplated or compliance
with the terms and provisions thereof by any Obligor will (i) conflict with or result in a breach of, or require any consent under
(x) the certificate of incorporation, LLC operating agreement or partnership agreements, or by-laws of the Parent or any other Obligors,
(y) any applicable law or regulation, or any order, writ, injunction or decree of any court or Governmental Authority binding on
any Obligor or (z) any other material agreement or instrument to which the Parent or any other Obligor is a party or by which it
is bound or to which it is subject, or (ii) constitute a default under any such lease, agreement or instrument, or (except for the
Liens created pursuant to, or permitted by, this Agreement and the Security Documents) result in the creation or imposition of any Lien
upon any of the revenues or assets of the Parent or any other Obligor pursuant to the terms of any such agreement or instrument, except
(1) in the case of clause (i)(y), (i)(z) or (ii), such conflicts, defaults or consents the failure of which to obtain would
not reasonably be expected to result in a Material Adverse Effect, (2) such consents that have been obtained or made and are in
full force and effect and (3) filings and recordings of the Liens created pursuant to, or required by, the Security Documents.

 

8.05.        Corporate
Action. Each of the Borrowers and the other Obligors has all necessary corporate or limited liability company power and authority
to execute, deliver and perform its obligations under the Basic Documents to which it is a party; the execution, delivery and performance
by each of the Borrowers and the other Obligors of the Basic Documents to which they are parties have been duly authorized by all necessary
corporate or limited liability company action; and this Agreement has been duly and validly executed and delivered by each of the Borrowers
and constitutes its legal, valid and binding obligation and each of the other Basic Documents to which such Borrower or any of the Obligors
is to be a party constitute its legal, valid and binding obligation, in each case enforceable in accordance with its terms, except as
the enforceability thereof may be limited by bankruptcy, insolvency, reorganization or moratorium or other similar laws relating to the
enforcement of creditors’ rights generally and by general equitable principles.

 

8.06.        Approvals.
Each of the Borrowers and the other Obligors has obtained all authorizations, approvals and consents of, and has made all filings and
registrations with, any governmental or regulatory authority or agency necessary for the execution, delivery or performance by it of
any Basic Document to which it is a party, or for the validity or enforceability thereof, except for (i) filings and recordings
of the Liens created pursuant to, or required by, the Security Documents and (ii) such authorizations, approvals, consents, filings
and registrations the failure to obtain or make would not reasonably be expected to result in a Material Adverse Effect.

 

8.07.        Regulations
U and X. None of the Parent or any of its Subsidiaries is engaged principally, or as one of its important activities, in the business
of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U or X of the Board of Governors
of the Federal Reserve System) and no part of the proceeds of any Loan hereunder will be used to purchase or carry any such margin stock.

 

8.08.        ERISA
and the Canadian Pension Plans.

 

(a)           The
Parent and each member of the Controlled Group have fulfilled their obligations under the minimum funding standards of ERISA and the
Code with respect to each Plan and are in compliance in all material respects with the presently applicable provisions of ERISA and the
Code, and have not incurred any liability to the PBGC or a Plan under Title IV of ERISA (other than to make contributions or premium
payments in the ordinary course or except as would not reasonably be expected to result in a Material Adverse Effect).

 

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(b)           Except
as would not reasonably be expected to have a Material Adverse Effect: each Canadian Pension Plan is in substantial compliance with all
applicable pension benefits and tax laws; no Canadian Pension Plan has any unfunded liabilities (either on a “going concern”
or on a “winding up” basis and determined in accordance with all applicable laws and using assumptions and methods
that are appropriate in the circumstances and in accordance with generally accepted actuarial principles and practices in Canada); and
all contributions (including any special payments to amortize any unfunded liabilities) required to be made in accordance with all applicable
laws and the terms of each Canadian Pension Plan have been made.

 

8.09.        Taxes.
Each of the Parent and its Subsidiaries has filed all United States Federal income Tax returns and all other material Tax returns which
are required to be filed by it and has paid all Taxes due pursuant to such returns or pursuant to any assessment received by it, except
to the extent the same may be contested as permitted by Section 9.02 hereof or the failure to so pay would not reasonably be expected
to result in a Material Adverse Effect. The charges, accruals and reserves on the books of such Persons in respect of Taxes and other
governmental charges are, in the opinion of the Company, adequate.

 

8.10.        Subsidiaries,
Etc. Schedule II hereto is a complete and correct list on the A&R Closing Date of all Subsidiaries of the Parent and of all equity
Investments held by the Parent or any of its Subsidiaries in any joint venture or other Person. Except for the Liens created by the Security
Documents and except as otherwise provided on Schedule III hereof, on the A&R Closing Date, the Parent owns, free and clear of Liens,
except for Liens permitted hereunder, all outstanding shares of such Subsidiaries set forth on Schedule II and all such shares are validly
issued, fully paid and non-assessable and the Parent (or the respective Subsidiary of the Parent) also owns, free and clear of Liens,
all such Investments.

 

8.11.        Investment
Company Act. None of the Parent or its Subsidiaries is an investment company under the Investment Company Act of 1940, as amended.

 

8.12.        Reserved.

 

8.13.        Ownership
and Use of Properties. Each of the Parent and its Subsidiaries will at all times have legal title to or ownership of, or the right
to use pursuant to enforceable and valid agreements or arrangements, all tangible property, both real and personal, and all franchises,
licenses, copyrights, patents and know-how which are material to the operation the business of the Parent and its Subsidiaries, taken
as a whole, in each case, except for (i) Liens permitted hereunder, (ii) defects in title that would do not materially interfere
with their ability to conduct their business as currently conducted or to utilize any such property or assets (including any such intellectual
property assets) for their intended purposes or (iii) where the failure to have such title or ownership, right to use, franchise,
license, copyright, patent or know-how would not reasonably be expected to result in a Material Adverse Effect.

 

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8.14.        Environmental
Compliance. (i) No notice, notification, demand, request for information, citation, summons, complaint or order has been issued,
no complaint has been filed, no penalty has been assessed and no investigation or review is pending or, to the Company’s knowledge,
threatened by any governmental or other entity with respect to any (A) alleged violation by the Parent or any Subsidiary of any
Environmental Law, (B) alleged failure by the Parent or any Subsidiary to have any environmental permit, certificate, license, approval,
registration or authorization required in connection with the conduct of its business or (C) generation, treatment, storage, recycling,
transportation or disposal or Release (each a “Regulated Activity”) of any Hazardous Substances except, in each case,
for such as would not reasonably be expected to have a Material Adverse Effect; (ii) neither the Parent nor any Subsidiary has engaged
in any Regulated Activity, other than as a generator (as such term is used in RCRA) in compliance with all applicable Environmental Laws
(except as could not reasonably be expected to result in a Material Adverse Effect); and (iii) neither the Parent nor any Subsidiary
has assumed from any third party, or indemnified any third party for, any Environmental Liability, except for Environmental Liabilities
of the Parent and its Subsidiaries (without duplication) that relate to or result from any matter referred to in this clause except for
such Environmental Liabilities as would not reasonably be expected to have a Material Adverse Effect.

 

8.15.        Solvency.
At the A&R Closing Date and after giving effect to the borrowing of the Loans and the use of proceeds therefrom on the A&R Closing
Date, the Parent and its Subsidiaries, on a consolidated basis, will (i) have capital, cash flows and sources of working capital
financing sufficient to carry on its business and transactions and all business and transactions in which it is about to engage, (ii) be
able to pay its debts as they mature, and (iii) have assets (tangible and intangible) whose fair salable value exceeds its total
liabilities (including contingent, subordinated, unmatured and unliquidated liabilities).

 

8.16.        [Reserved].

 

8.17.        Anti-Corruption
Laws and Sanctions. The Parent has implemented and maintains in effect policies and procedures designed to ensure compliance in all
material respects by the Parent, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption
Laws and applicable Sanctions, and the Parent, its Subsidiaries and their respective officers and employees, and, to the knowledge of
the Parent and the Company, its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material
respects and are not knowingly engaged in any activity that would reasonably be expected to result in the Parent or any of its Subsidiaries
being designated as a Sanctioned Person. None of (a) the Parent, any of its Subsidiaries or to the knowledge of the Parent or the
Company, any of the respective directors, officers or employees of the Parent and its Subsidiaries, or (b) to the knowledge of the
Parent and the Company, any agent of the Parent or any of its Subsidiaries that will act in any capacity in connection with or benefit
from the credit facility established hereby, is a Sanctioned Person. No Loan or Letter of Credit or the use of proceeds therefrom or
other transaction contemplated by this Agreement will violate Anti-Corruption Laws applicable to the Parent or its Subsidiaries or applicable
Sanctions. The foregoing representations in this ‎Section 8.17 will not apply to any party hereto to which Council Regulation
(EC) 2271/96 (the “Blocking Regulation”) applies, if and to the extent that such representations are or would be unenforceable
by or in respect of that party pursuant to, or would otherwise result in a breach and/or violation of, (i) any provision of the
Blocking Regulation (or any law or regulation implementing the Blocking Regulation in any member state of the European Union) or (ii) any
similar blocking or anti-boycott law in the United Kingdom.

 

8.18.        Affected
Financial Institutions. No Obligor is an Affected Financial Institution.

 

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Section 9.
Covenants. The Parent and the Company each agree that, on and after the A&R Closing Date until such time as (i) all
Commitments hereunder have been terminated, (ii) all Letters of Credit have been terminated (or 100% cash collateralized or otherwise
backstopped in a manner reasonably satisfactory to the applicable Issuing Bank) and (iii) all Loans, interest and other amounts
payable hereunder (other than amounts in respect of contingent obligations for which no claims have been made) have been paid in full,
unless the Majority Lenders shall agree otherwise pursuant to Section 12.05 hereof:

 

9.01.            Financial
Statements and Other Information. The Parent shall deliver:

 

(1)            to
the Administrative Agent (and the Administrative Agent will make such materials available to the Lenders), as soon as available and in
any event within 90 days after the end of each fiscal year of the Parent, consolidated statements of income, retained earnings and cash
flow of the Parent and its Subsidiaries for such year and the related consolidated balance sheet as at the end of such year, setting
forth in each case in comparative form the corresponding figures for the preceding fiscal year, and accompanied by an opinion thereon
(without qualification arising out of the scope of audit) of Deloitte & Touche LLP or other independent certified public accountants
of recognized national standing, which opinion shall state that said consolidated financial statements fairly present the consolidated
financial condition and results of operations of the Parent and its Subsidiaries as at the end of, and for, such fiscal year;

 

(2)            to
the Administrative Agent (and the Administrative Agent will make such materials available to the Lenders), as soon as available and in
any event within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Parent consolidated statements
of income, retained earnings and cash flow of the Parent and its Subsidiaries for such fiscal quarter and for the portion of the fiscal
year ended at the end of such fiscal quarter, and the related consolidated balance sheet as at the end of such fiscal quarter, and accompanied,
in each case, by a certificate of the chief financial officer or vice president-treasurer of the Parent which certificate shall state
that said consolidated financial statements fairly present the consolidated financial condition and results of operations of the Parent
and its Subsidiaries in accordance with GAAP (except for the absence of footnotes) consistently applied as at the end of, and for, such
fiscal quarter (subject to normal year-end audit adjustments);

 

(3)            [reserved];

 

(4)            to
the Administrative Agent (and the Administrative Agent will deliver such materials to each Lender that has requested the same), promptly
after the same has become publicly available, copies of all periodic and other reports, proxy statements and other materials publicly
filed by the Parent or its Subsidiaries with the Securities and Exchange Commission or distributed by the Parent to its shareholders
generally;

 

(5)            [reserved];

 

(6)            to
the Administrative Agent (and the Administrative Agent will make such materials available to the Lenders), if and when the Parent or
any member of the Controlled Group (i) gives or is required to give notice to the PBGC of any “reportable event”
(as defined in Section 4043 of ERISA) with respect to any Plan which might constitute grounds for a termination of such Plan under
Title IV of ERISA, or knows that the Plan administrator of any Plan has given or is required to give notice of any such reportable event,
a copy of the notice of such reportable event given or required to be given to the PBGC, (ii) receives notice of Withdrawal Liability
under Title IV of ERISA, a copy of such notice; or (iii) receives notice from the PBGC under Title IV of ERISA of an intent to terminate
or appoint a trustee to administer the Plan, a copy of such notice, that in any such case would reasonably be expected to result in a
Material Adverse Effect;

 

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(7)            to
the Administrative Agent (and the Administrative Agent will make such notice available to the Lenders), promptly after the chief executive
officer, chief financial officer, vice-president-treasurer, general counsel or senior vice president-finance of the Parent or the Company
obtains knowledge of the occurrence of any Default, a notice of such Default, describing the same in reasonable detail; and

 

(8)            to
the Administrative Agent and such Lender, promptly upon receipt of any such request, such additional financial and other information
as any Lender may from time to time reasonably request.

 

The Parent will furnish to
the Administrative Agent (and the Administrative Agent will make such notice available to each Lender), at the time it furnishes each
set of financial statements pursuant to paragraph (a) or (b) above, a certificate of its chief executive officer, chief financial
officer or vice president-treasurer (i) to the effect that, to the best of such Person’s knowledge after due inquiry, no Default
has occurred and is continuing (or, if any Default has occurred and is continuing, describing the same in reasonable detail), (ii) setting
forth in reasonable detail the computations for the Net Total Lease Adjusted Leverage Ratio, the Fixed Charges Coverage Ratio and the
Consolidated Leverage Ratio, in each case, as of the end of the applicable fiscal quarter or fiscal year and (iii) any changes to
the Persons designated as Unrestricted Subsidiaries.

 

Any financial statement or
other document required to be delivered pursuant to this Section 9.01 may be delivered electronically, and if so delivered, shall
be deemed to have been delivered on the date on which the Parent posts such financial statement or other document on the Parent’s
publicly available website on the Internet or on the Intralinks website on the Internet at www.intralinks.com, or such financial statement
or other document becomes available on the EDGAR system or any successor system of the Securities and Exchange Commission; provided
that, except with respect to the financial statements required to be delivered pursuant to Section 9.01(1) or 9.01(2),
the Parent shall give prompt notice of any such posting to the Administrative Agent (who shall then give prompt notice of any such posting
to the Lenders); provided, further, that the failure to so notify the Administrative Agent pursuant to the immediately
preceding proviso shall not constitute a Default and all documents shall be deemed to have been delivered pursuant to this Section 9.01
on the date on which the Parent posts such documents as contemplated above.

 

The Parent represents and
warrants that it and any of its Subsidiaries either (i) has no registered or publicly traded securities outstanding or (ii) files
its financial statements with the SEC and/or makes its financial statements available to potential holders of its 144A securities, and,
accordingly, each of the Parent and the Company hereby authorizes the Administrative Agent to make the financial statements to be provided
under Section 9.01(1) and (2) above, along with the Basic Documents, available to Public-Siders.

 

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The
Parent and the Company each hereby acknowledges that (a) the Administrative Agent will make available to the Lenders materials and/or
information provided by or on behalf of the Parent and/or the Company hereunder (collectively, “Borrower Materials”)
by posting the Borrower Materials on Intralinks or another similar electronic system (the “Platform”) and (b) certain
of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public information
with respect to the Parent or its Affiliates, or the respective securities of any of the foregoing within the meaning of federal and
state securities laws (“MNPI”), and who may be engaged in investment and other market-related activities with respect
to such Persons’ securities. The Parent and the Company each hereby agree that (a) all Borrower Materials that are to be made
available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that
the word “PUBLIC” shall appear prominently on the first page thereof; (b) by marking Borrower Materials “PUBLIC,”
the Parent and the Company shall be deemed to have authorized the Administrative Agent and the Lenders to treat such Borrower Materials
as not containing any MNPI; (c) all Borrower Materials marked “PUBLIC” are permitted to be made available through a
portion of the Platform designated “Public Side Information;” and (d) the Administrative Agent shall be entitled to
treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform
not designated “Public Side Information.” Neither the Parent nor the Company will request that any material be posted
to Public-Siders without expressly representing to the Administrative Agent that such materials do not constitute MNPI.

 

9.02.            Taxes
and Claims. The Parent will pay and discharge, and will cause each of its Subsidiaries to pay and discharge, all Taxes, assessments
and governmental charges or levies imposed upon it or upon its income or profits, or upon any property belonging to it, prior to the
date on which penalties attach thereto, and all lawful claims which, if unpaid, might become a Lien upon the property of the Parent or
such Subsidiary, if such Taxes, assessments or governmental charges or levies, or claims, if not paid, would result in a Material Adverse
Effect, provided that neither the Parent nor such Subsidiary shall be required to pay any such Tax, assessment, charge, levy or
claim the payment of which is being contested in good faith and by proper proceedings if it maintains adequate reserves with respect
thereto.

 

9.03.            Insurance.
Except where the failure to do so would not reasonably be expected to have a Material Adverse Effect, the Parent will maintain, and will
cause each of its Subsidiaries to maintain, in each case, as determined by the Parent in good faith, with financially sound and reputable
insurers, such insurance coverage with respect to liabilities, losses or damage in respect of the assets, properties and businesses of
the Parent and its Subsidiaries as may customarily be carried or maintained under similar circumstances by Persons of established reputation
engaged in similar businesses, in each case in such amounts (giving effect to self-insurance), with such deductibles, covering such risks
and otherwise on such terms and conditions as shall be customary for such Persons.

 

9.04.            Maintenance
of Existence; Conduct of Business.

 

(a)            The
Parent will preserve and maintain, and will cause each of its Subsidiaries to preserve and maintain, its legal existence and all of its
rights, privileges and franchises necessary or desirable in the normal conduct of its business, and will conduct its business in a regular
manner, except, other than with respect to the preservation of the legal existence of the Borrowers, to the extent that the failure to
do so would not reasonably be expected to result in a Material Adverse Effect; provided that any transaction expressly permitted
pursuant to Section 9.12 shall be permitted under this Section 9.04.

 

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(b)            The
Parent will maintain in effect and enforce policies and procedures designed to ensure compliance by the Parent, its Subsidiaries and
their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.

 

(c)            The
Parent will not change the ending dates with respect to its fiscal year or fiscal quarter; provided, however, that the Parent may, upon
written notice to the Administrative Agent, make any such changes that are (i) reasonably acceptable (such consent not to be unreasonably
withheld or delayed) to the Administrative Agent or (ii) otherwise not materially adverse to the interests of the Lenders (in their
capacities as such), in each case of (i) and (ii), the Parent and the Administrative Agent will, and are hereby authorized by the
Lenders to (without the consent of any other Person), make any adjustments to this Agreement that are necessary in order to reflect such
change in fiscal year or fiscal quarter, including adjustments to calculations determined by reference to any fiscal quarter or fiscal
year.

 

9.05.            Maintenance
of and Access to Properties.

 

(1)            The
Parent will keep, and will cause each of its Subsidiaries to keep, all of its properties necessary in its business in good working order
and condition (having regard to the condition of such properties at the time such properties were acquired by the Parent or such Subsidiary),
ordinary wear and tear excepted, except as expressly permitted by this Agreement or where the failure to so maintain its properties would
not reasonably be expected to have a Material Adverse Effect.

 

(2)            The
Parent will, and will cause its Subsidiaries to, do all things necessary to preserve and keep in full force and effect all trademarks,
patents, service marks, trade names, copyrights, franchises and licenses, and any rights with respect thereto, which are necessary for
to the conduct of the business of the Parent and its Subsidiaries taken as a whole, except as expressly permitted by this Agreement or
where the failure to do so would not reasonably be expected to have a Material Adverse Effect.

 

(3)            The
Parent will, and will cause its Subsidiaries to, permit any authorized representative designated by the Administrative Agent to visit
and inspect any of the properties of the Parent and its Subsidiaries at which the principal financial records and executive officers
of the applicable Person are located, to inspect, copy and take extracts from its and their respective financial and accounting records,
and to discuss its and their respective affairs, finances and accounts with its and their officers and independent public accountants
(subject to such accountants’ customary policies and procedures) (provided that the Parent (or any of its Subsidiaries) may, if
it so chooses, be present at or participate in any such discussion), all upon reasonable notice and at reasonable times during normal
business hours; provided that (x) only the Administrative Agent on behalf of the Lenders may exercise the rights of the Administrative
Agent and the Lenders under this Section 9.05(3), (y) the Administrative Agent shall not exercise such rights more often than
one time during any calendar year and (z) only one such time per calendar year shall be at the expense of the Parent; provided,
further, that when an Event of Default exists, the Administrative Agent (or any of its representatives or independent contractors) may
do any of the foregoing at the expense of the Parent at any time during normal business hours and upon reasonable advance notice; provided,
further that notwithstanding anything to the contrary herein, neither the Parent nor any Subsidiary shall be required to disclose, permit
the inspection, examination or making of copies of or taking abstracts from, or discuss any document, information or other matter (a) that
constitutes non-financial trade secrets or non-financial proprietary information of the Parent and its subsidiaries and/or any of its
customers and/or suppliers, (b) in respect of which disclosure to the Administrative Agent or any Lender (or any of their respective
representatives or contractors) is prohibited by applicable law, (c) that is subject to attorney-client or similar privilege or
constitutes attorney work product or (d) in respect of which the Parent or any Subsidiary owes confidentiality obligations to any
third party (provided such confidentiality obligations were not entered into in contemplation of the requirements of this Section 9.03).

 

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(4)            The
Parent will, and will cause its Subsidiaries to, maintain proper books of record and account containing entries of all material financial
transactions and matters involving the assets and business of the Parent and its Subsidiaries that are full, true and correct in all
material respects and permit the preparation of consolidated financial statements in accordance with GAAP.

 

9.06.            Compliance
with Applicable Laws. The Parent will comply, and will cause each of its Subsidiaries to comply, with the requirements of all applicable
laws, rules, regulations and orders of any governmental body or regulatory authority (including, without limitation, ERISA and all Environmental
Laws), in each case a breach of which would have a Material Adverse Effect, except where contested in good faith and by proper proceedings.

 

9.07.            Litigation.
The Company will promptly give to the Administrative Agent (which shall promptly notify each Lender) notice in writing of all litigation
and of all proceedings of which it is aware before any courts, arbitrators or governmental or regulatory agencies against the Parent
or any of its Subsidiaries as to which an adverse determination is probable and which, if adversely determined, could reasonably be expected
to have a Material Adverse Effect.

 

9.08.            Indebtedness.
The Parent will not, and will not permit any of its Subsidiaries to, create, incur or suffer to exist any Indebtedness except:

 

(i)            Indebtedness
constituting Obligations hereunder;

 

(ii)            the
Indebtedness existing on the A&R Closing Date and set forth in Schedule III hereto (including any extensions, renewals or refunding
of such Indebtedness, so long as the maximum principal amount of such Indebtedness is not increased);

 

(iii)            Incremental
Equivalent Debt;

 

(iv)            Indebtedness
of the Parent and the Subsidiary Guarantors in an aggregate outstanding principal amount not at any time exceeding the greater of (x) $400,000,000
and (y) 25% of EBITDA as of the last day of the most recently ended TTM Period, calculated on a pro forma basis;

 

(v)            Capital
Lease Obligations;

 

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(vi)            Acquired
Debt of the Parent or any Subsidiary; provided that, after giving effect to the incurrence or assumption of such Acquired Debt and any
related transactions, the Parent is compliance with the Financial Covenants on a pro forma basis as of the last day of the most recently
ended TTM Period;

 

(vii)            Indebtedness
of (A) the Parent to any Subsidiary, (B) any Subsidiary to any Subsidiary or (C) any Subsidiary to the Parent, provided
that any Indebtedness incurred pursuant to the foregoing clause (B) or (C) is permitted as an Investment by the lender thereof
under Section 9.14;

 

(viii)            Indebtedness
in respect of any Hedging Agreement and any Cash Management Agreement;

 

(ix)            so
long as no Default shall have occurred or be continuing hereunder at the time of such creation or incurrence,

 

(a)            Seller
Indebtedness;

 

(b)            Indebtedness
incurred pursuant to the instruments governing Permitted Mortgage Financings;

 

(c)            Indebtedness
in respect of agreements not to compete;

 

(d)            [reserved];

 

(e)            [reserved];

 

(f)            [reserved];

 

(g)            [reserved];

 

(h)            [reserved];

 

(i)            [reserved];

 

(j)            [reserved];
and

 

(k)            Indebtedness
of any Excluded Subsidiary to any minority shareholder or partner in such Excluded Subsidiary;

 

provided,
that Indebtedness incurred pursuant to the foregoing subclauses (a) and (c) may be incurred only in connection with Permitted
Acquisitions;

 

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(x)            so
long as no Default shall have occurred and be continuing hereunder at the time of such creation or incurrence, Indebtedness created
or incurred by any Excluded Subsidiary (including any Guarantees of such Indebtedness by the Parent and any Subsidiary), subject to the
limitations set forth in Section 9.09 hereof; provided that at the time of such incurrence and giving effect thereto: (A) the
aggregate then outstanding amount of Indebtedness of Excluded Subsidiaries (other than any Excluded Subsidiaries organized in Canada
or England and Wales or any state, province or territory thereof) does not exceed $1,000,000,000 (in each case, exclusive of any Indebtedness
incurred in the form of Loans or other obligations hereunder); (B) the aggregate outstanding amount of Indebtedness of Excluded
Subsidiaries organized in England and Wales or any state, province or territory thereof does not exceed £400,000,000; and (C) the
aggregate amount of Indebtedness of Excluded Subsidiaries organized in Canada or any state, province or territory thereof shall not exceed
an amount, as of the date of incurrence or creation, as applicable, which would cause the ratio (calculated on a pro forma basis as of
the last day of the most recently ended TTM Period) of (1)(x) the aggregate outstanding amount of Indebtedness of the Excluded Subsidiaries
organized in Canada or any state, province or territory thereof at the end of such fiscal quarter minus (y) the aggregate amount
of cash and Liquid Investments of the Excluded Subsidiaries organized in Canada or any state, province or territory thereof at such date
to (2) the EBITDA for such period attributable to Excluded Subsidiaries organized in Canada or any state, province or territory
thereof to exceed 5.0 to 1; provided, further, that an Excluded Subsidiary may create or incur additional Indebtedness (with Guarantees
of such Indebtedness by the Parent and any Subsidiary) in excess of the applicable threshold under subclause (A), (B) or (C) above
where such Indebtedness is intended to finance the redemption or retirement of Indebtedness previously incurred under such subclause
and such previously incurred Indebtedness is the subject of an irrevocable notice of redemption or a tender offer commenced on or prior
to the date of such incurrence to effect such retirement or redemption (and such tender offer or redemption, and any redemption commenced
after the settlement of such tender offer, is concluded within 45 days after the incurrence of such additional Indebtedness);

 

(xi)            guarantees
(including any co-issuance) by any Borrower and/or any Subsidiary of Indebtedness or other obligations of any Borrower, and/or any Subsidiary
with respect to Indebtedness otherwise permitted to be incurred pursuant to this Section 9.08 or other obligations not prohibited
by this Agreement; provided that in the case of any such guarantee by any Obligor of the obligations of any Subsidiary that is
not an Obligor, the related Investment is permitted under Section 9.14;

 

(xii)            Indebtedness
incurred connection with any Investment or acquisition (including Permitted Acquisitions) permitted hereunder in an outstanding principal
amount not at any time exceeding the greater of (x) $1,200,000,000 and (y) 75% of EBITDA as of the last day of the most recently
ended TTM Period, calculated on a pro forma basis; provided that any such Indebtedness shall comply with clauses (b) through (f) of
the definition of “Incremental Equivalent Debt” as if such Indebtedness were Incremental Equivalent Debt;

 

(xiii)            Indebtedness
in a principal amount consisting of reimbursement obligations in respect of bank guarantees or letters of credit issued by any bank for
the account of the Parent or any of its Subsidiaries (excluding, for the avoidance of doubt, any Letters of Credit), in an amount, when
aggregated with all other Indebtedness incurred in reliance on this clause (xiii), not exceeding $75,000,000 at any time;

 

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(xiv)            Indebtedness
incurred pursuant to the instruments governing Accounts Receivable Financings; and

 

(xv)            Indebtedness
constituting purchase price holdbacks, earn-out obligations or other similar arrangements incurred in connection with Permitted Acquisitions
or other Investments permitted pursuant to Section 9.14.

 

9.09.            Net
Total Lease Adjusted Leverage Ratio. The Parent will not, as at the end of any fiscal quarter, permit the ratio, as of the end of
the period of four fiscal quarters then ended on a pro forma basis, of (i) (x) the sum of the aggregate outstanding principal
amount of Funded Indebtedness (on a consolidated basis) of the Parent and its Subsidiaries at such date plus six times the Rent Expense
for such period less (y) the aggregate amount of cash and Liquid Investments of the Parent and Subsidiaries at such date
to (ii) EBITDAR for such period (the “Net Total Lease Adjusted Leverage Ratio”) to exceed 7.00 to 1; provided,
that Company may elect (by written notice to the Administrative Agent) to increase such maximum Net Total Lease Adjusted Leverage Ratio
to 7.50 to 1.00 for a period of up to four fiscal quarters commencing with the fiscal quarter during which a Permitted Acquisition in
which the Acquisition Consideration was at least $500,000,000 occurred (such four-fiscal quarter period, an “Adjusted Financial
Covenant Period”); provided that after the end of any Adjusted Financial Covenant Period, the Company may not elect to commence
another Adjusted Financial Covenant Period unless at least two full fiscal quarters as at the end of which the Net Total Lease Adjusted
Leverage Ratio did not exceed 7.00 to 1 have elapsed.

 

9.10.            [Reserved].

 

9.11.            Fixed
Charges Coverage Ratio. The Parent will not, as at the end of any fiscal quarter, permit the ratio, as of the end of such fiscal
quarter for the period of four fiscal quarters then ended on a pro forma basis, of (i) EBITDAR for such four fiscal quarters to
(ii) Fixed Charges for such four fiscal quarters to be less than 1.50 to 1.

 

9.12.            Mergers,
Asset Dispositions. Etc. The Parent will not, and will not permit any of its Subsidiaries to, be a party to any merger or consolidation,
or sell, lease, assign, transfer or otherwise dispose of any assets, except:

 

(i)            dispositions
of inventory in the ordinary course of business;

 

(ii)            dispositions
of worn out or obsolete tools or equipment no longer used or useful in the business of the Parent and its Subsidiaries, provided
that no single disposition of tools or equipment shall have a fair market value (determined in good faith by the Company at the time
of such disposition) in excess of $15,000,000;

 

(iii)            Capital
Expenditures;

 

(iv)            (x) Investments
permitted under Section 9.14 hereof and (y) dispositions of Investments described in clauses (i), (ii) and (iii) of
Section 9.14 hereof and dispositions of other assets; provided, that the Net Cash Proceeds of dispositions of such other
assets (other than any such dispositions in the ordinary course of business) shall be subject to the provisions of Section 3.02(c);

 

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(v)            the
sale, lease, assignment, transfer or other disposition of any assets by the Parent or any Subsidiary of the Parent to the Parent or any
Subsidiary thereof (other than Excluded Subsidiaries), provided, that (i) if such transfer is of material assets by the Parent,
the Company or a Subsidiary Guarantor, the recipient of such transfer shall also be the Parent, the Company or a Subsidiary Guarantor,
(ii) any Excluded Subsidiary may transfer assets to the Parent, the Company or any other Subsidiary (including any Excluded Subsidiary)
and (iii) the effect of any such sale, lease, assignment, transfer or other disposition, or of any series of any such transactions,
shall not be to substantially diminish the value of the collateral granted under the Security Documents;

 

(vi)            (a) the
merger and dissolution of any Subsidiary of the Company into the Company or any other Subsidiary of the Company so long as, (x) if
the Company is a party to such merger, the Company is the surviving Person and (y) if an Obligor is a party to such merger, an Obligor
is (or a Person who will become an Obligor is) the surviving Person; provided that, if a Borrower (other than the Company) is
a party to such merger and is not the surviving Person, such surviving Person shall expressly assume the Obligations of such Borrower
hereunder and shall become a Borrower upon consummation of such merger and shall be organized under the laws of the same jurisdiction
as the applicable Borrower and (b) the merger or consolidation of any Subsidiary of the Company with any Person pursuant to, or
to effect a transaction, permitted under any other clause of this Section 9.12; provided that, if a Borrower is a party to
such merger and is not the surviving Person, such surviving Person shall expressly assume the Obligations of such Borrower hereunder
and shall become a Borrower upon consummation of such merger and shall be organized under the laws of the same jurisdiction as the applicable
Borrower;

 

(vii)            dispositions
of accounts receivable and related general intangibles, and related lockbox and other collection accounts records and/or proceeds pursuant
to the instruments governing an Accounts Receivable Financing permitted by Section 9.08 hereof; and

 

(viii)            the
abandonment of any right, privilege or franchise (including any lease) not material in the aggregate to the business of the Parent and
its Subsidiaries

 

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9.13.            Liens.
The Parent will not, and will not permit any of its Subsidiaries to, create or suffer to exist any Lien upon any property or assets,
now owned or hereafter acquired, securing any Indebtedness or other obligation, except: (i) the Liens created pursuant to the Security
Documents; (ii) the Liens existing on the A&R Closing Date set forth in Schedule III and Liens arising out of the refinancing,
extension, renewal or refunding of any Indebtedness secured by any Lien set forth on Schedule III, provided that the principal
amount of such Indebtedness is not increased and is not secured by any additional assets; (iii) (A) Liens securing Indebtedness
permitted by clauses (iii), (v), (viii), (ix)(b), (xi) (solely to the extent the Indebtedness that is guaranteed is otherwise permitted
to be secured pursuant to this Section 9.13) and/or (xii) of Section 9.08; and (B) Liens securing Acquired Debt,
provided that such Liens cover only those assets that were covered by such Liens prior to the relevant acquisitions; (iv) Liens
for taxes and assessments not yet delinquent or which are being contested in good faith and by appropriate proceedings diligently conducted,
if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; (v) statutory
Liens of landlords and Liens of carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other
like Liens arising in the ordinary course of business which are not overdue for a period of more than 30 days or which are being contested
in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books
of the applicable Person; (vi) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of
customs duties in connection with the importation of goods; (vii) pledges or deposits in the ordinary course of business in connection
with workers’ compensation, unemployment insurance and other social security legislation, other than any Lien imposed by ERISA;
(viii) normal and customary banker’s Liens and rights of setoff arising in the ordinary course of business with respect to
cash and cash equivalents; provided that such cash and cash equivalents are not dedicated cash collateral in favor of such depository
institution and are not otherwise intended to provide collateral security (other than for customary account commissions, fees and reimbursable
expenses relating solely to deposit accounts, and for returned items); (ix) deposits to secure the performance of bids, trade contracts
and leases (other than Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like
nature incurred in the ordinary course of business; (x) Liens securing judgments for the payment of money not constituting an Event
of Default under Section 10.01(8)); (xi) leases, subleases, licenses and sublicenses which do not materially interfere with
the business of the Parent or any Subsidiary; (xii) Liens on properties or assets of an Excluded Subsidiary (other than a Subsidiary
Borrower) securing Indebtedness of such Excluded Subsidiary permitted hereunder; (xiii) other Liens arising in the ordinary course
of the business of the Parent or such Subsidiary which are not incurred in connection with the borrowing of money or the obtaining of
advances or credit and which do not materially detract from the value of its property or assets or materially impair the use thereof
in the operation of its business; (xiv) Liens under the instruments governing (A) an Accounts Receivable Financing or (B) a
Permitted Mortgage Financing permitted by Section 9.08 hereof; (xv) Liens securing other Indebtedness in an outstanding principal
amount not at any time exceeding the greater of (x) $400,000,000 and (y) 25% of EBITDA as of the last day of the most recently
ended TTM Period, calculated on a pro forma basis; (xvi) the reservations, limitations, provisos and conditions expressed in any
original grant from the Crown in right of Canada or any province or territory thereof, as applicable, of any real property or any interest
therein or in any comparable grant in jurisdictions other than Canada; provided that such reservations, limitations, provisos and conditions
do not reduce the value of the applicable property or assets or materially interfere with the use of such property or assets; (xvii) Liens
granted to a public utility or any municipality or governmental or other public authority when required by such utility or other authority
in connection with the operation of the business or the ownership of the property or assets; provided that such Liens do not reduce the
value of the property or assets or materially interfere with the use of such property or assets; and (xviii) servicing agreements,
development agreements, site plan agreements, subdivision agreements and other agreements with a Governmental Authority pertaining to
the use or development of any properties or assets; provided that such agreements are complied with and do not reduce the value of the
property or assets or materially interfere with the use of such property or assets.

 

9.14.            Investments.
The Parent will not, and will not permit any of its Subsidiaries to, directly or indirectly, make or permit to remain outstanding any
advances, loans or other extensions of credit or capital contributions (other than prepaid expenses in the ordinary course of business)
to (by means of transfers of property or assets or otherwise), or purchase or own any stocks, bonds, notes, debentures or other securities
of, any Person (all such transactions being herein called “Investments”), except:

 

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(i)            operating
deposit accounts with any bank or financial institution;

 

(ii)            Liquid
Investments (including Liquid Investments in the name and under the control of the Administrative Agent (or a collateral sub-agent for
the Administrative Agent) as contemplated by the Security Documents);

 

(iii)            subject
to Section 9.16 hereof, Investments in accounts and chattel paper as defined in the Uniform Commercial Code and notes receivable
acquired in the ordinary course of business as presently conducted;

 

(iv)            Investments
in an insurer required as a condition to the provision by such insurer of insurance coverage contemplated by Section 9.03;

 

(v)            by
the Parent or any Subsidiary of the Parent in the Parent or any Subsidiary of the Parent (or a Person that becomes a Subsidiary as a
result of such Investment); provided that, solely in the case of any such Investment by the Parent or any Subsidiary that is an Obligor
in a Subsidiary that is not an Obligor, after giving effect to such Investment, (x) no Event of Default shall have occurred and
be continuing and (y) the Parent is compliance with the Financial Covenants on a pro forma basis as of the last day of the most
recently ended TTM Period.

 

(vi)            Investments
consisting of loans or advances to officers and directors of the Parent and its Subsidiaries in an outstanding amount not to exceed $5,000,000
in the aggregate and loans or advances made to employees of the Parent to permit such employees to exercise options to purchase Capital
Stock of the Parent;

 

(vii)            Investments
in Persons that are not Subsidiaries of the Parent, so long as (A) after giving effect to any such Investment, the Parent is in
compliance with the Financial Covenants on a pro forma basis as of the last day of the most recently ended TTM Period and (B) immediately
after any such Investment, no Event of Default has occurred and is continuing;

 

(viii)            [reserved];

 

(ix)            subject
to Section 9.16 hereof and on terms and pursuant to documentation in all respects reasonably satisfactory to the Administrative
Agent, Investments in Affiliates of the Parent (which are not Subsidiaries of the Parent) to facilitate the construction or acquisition
of records management facilities including, without limitation, the acquisition of real estate for development purposes;

 

(x)            so
long as no Default shall have occurred and be continuing hereunder at the time of such Acquisition or transaction, Permitted Acquisitions
and related Additional Expenditures;

 

(xi)            [reserved];

 

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(xii)            equity
Investments and loans and advances and other extensions of credit to any Excluded Subsidiary;

 

(xiii)            Investments
constituted by Hedging Agreements and Cash Management Agreements;

 

(xiv)            Investments
by the Parent in any Subsidiary formed pursuant to the instruments governing an Accounts Receivable Financing permitted by Section 9.08
hereof; and

 

(xv)            other
Investments that do not exceed in the aggregate at any time outstanding of the greater of (x) $800,000,000 and (y) 50% of EBITDA
as of the last day of the most recently ended TTM Period, calculated on a pro forma basis (net of any repayments of principal in the
case of any Investment in the form of a loan and any return or reduction of capital or return on Investment in the case of any equity
Investment (whether as a distribution, dividend, redemption or sale)).

 

For purposes of
this Section 9.14, “Permitted Acquisition” shall mean any Acquisition complying with the following:

 

(1)            Compliance
With Financial Covenants. After giving effect to each such acquisition and any related incurrence of Indebtedness, the Parent is
in compliance with the Financial Covenants on a pro forma basis as of the last day of the most recently ended TTM Period.

 

(2)            Lines
of Business, Etc. Each such Acquisition shall not be “hostile” and shall be of assets relating to the records
and information management services, data management services or data center services business or activities related thereto (or of the
majority of the stock or other equity interests of Persons whose assets consist substantially of such assets) or through the merger or
consolidation of such a Person with a Subsidiary of the Parent (or transaction of similar effect), which merger, consolidation or transaction
shall comply with Section 9.04 hereof.

 

For purposes of
this Agreement, the amount of any Investment outstanding at any time shall be the original cost of such Investment, reduced by any dividend,
distribution, interest payment, return of capital, repayment, or other amount received by the Parent or any of its Subsidiaries in respect
of such Investment (provided that, with respect to amounts received other than in the form of cash or cash equivalents, such amount
shall be equal to the fair market value of such consideration).

 

9.15.            Restricted
Payments. The Parent will not, and will not permit any of the Parent’s Subsidiaries to, declare or make any Restricted Payment,
except that the Parent may make additional Restricted Payments constituting the purchase, redemption, retirement or other acquisition
of shares of any class of Capital Stock of the Parent (such Restricted Payments, “Stock Repurchases”) and declare
and make dividend payments on any shares of any class of Capital Stock of the Parent (such Restricted Payments, “Dividend Payments”)
so long as no Default has occurred and is continuing on the date of such Stock Repurchase or Dividend Payment and after giving effect
thereto.

 

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In addition, so long as the
Parent reasonably believes that it qualifies for taxation as a REIT, the Parent and its Subsidiaries may make Restricted Payments provided
that they do not exceed in the aggregate, the greater of (i) for any four consecutive fiscal quarters of the Parent, 95% of
Funds From Operations for such four fiscal quarter period or (ii) such amount as is reasonably determined to approximate the amount
required for the Parent to continue to be qualified for taxation as a REIT or to avoid the imposition of income or excise taxes on the
Parent.

 

Nothing herein shall be deemed
to prohibit the payment of dividends by any Subsidiary of the Parent to the Parent or to any other Subsidiary of the Parent.

 

9.16.            Transactions
with Affiliates. The Parent will not, and will not permit any of its Subsidiaries to, directly or indirectly sell, lease or otherwise
transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other
transactions with, any of its Affiliates, except:

 

(i)            Any
transaction with an Affiliate of the Parent if the monetary or business consideration arising therefrom would be substantially as advantageous
to the Parent or such Subsidiary as the monetary or business consideration which would obtain in a comparable arm’s length transaction
with a Person similarly situated to the Parent but not an Affiliate of the Parent;

 

(ii)            transactions
between or among the Parent and its Subsidiaries not involving any other Affiliate;

 

(iii)            any
Investment permitted by Section 9.14;

 

(iv)            any
Restricted Payment permitted by Section 9.15; and

 

(v)            any
Affiliate who is a natural person may serve as an employee or director of the Parent or any of its Subsidiaries and receive reasonable
compensation for his or her services in such capacity.

 

9.17.            Subordinated
Indebtedness . The Parent will not, nor will it permit any of its Subsidiaries to, purchase, redeem, retire or otherwise acquire
for value, or set apart any money for a sinking, defeasance or other analogous fund for the purchase, redemption, retirement or other
acquisition of, or make any voluntary payment or prepayment of the principal of or interest on, or any other amount owing in respect
of, any Subordinated Indebtedness, except for:

 

(i)            regularly
scheduled payments or prepayments of principal and interest in respect thereof required pursuant to the instruments evidencing such Subordinated
Indebtedness (other than Seller Indebtedness), including for the avoidance of doubt mandatory applicable high yield discount obligations
payments, if any;

 

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(ii)            so
long as no Default has occurred and is continuing, scheduled payments of principal of and interest on, and expenses and indemnities incurred
in connection with, Seller Indebtedness;

 

(iii)            [reserved];

 

(iv)            any
purchase, redemption or retirement of Subordinated Indebtedness, so long as (i) no Default has occurred and is continuing and (ii) (A) such
other purchase, redemption or retirement is in connection with a refinancing of such Subordinated Indebtedness with the proceeds of,
or in connection with an exchange of such Subordinated Indebtedness for a new series of, Subordinated Indebtedness issued within 180
days of the substantial completion of such purchase, redemption or retirement or (B) after giving effect to such purchase, redemption
or retirement and any related incurrence of Indebtedness, the Parent is in compliance with the Financial Covenants on a pro forma basis
as of the last day of the most recently ended TTM Period; and

 

(v)            any
other any purchase, redemption or retirement of Subordinated Indebtedness in an aggregate amount not exceeding, when aggregated with
all other purchases, redemptions or retirements of Subordinated Indebtedness in reliance on this clause (v), $50,000,000.

 

9.18.            Lines
of Businesses. Neither the Parent nor any of its Subsidiaries, taken as a whole, shall engage to any substantial extent in any business
activity other than the records and information management services and data management services or data centers services businesses
or activities related or incidental thereto.

 

9.19.            [Reserved].

 

9.20.            Use
of Proceeds. The Parent and the other Borrowers will not request any Loan or Letter of Credit, and the Borrowers shall not use, and
shall procure that their Subsidiaries and their respective directors, officers, employees and agents shall not use, the proceeds of any
Loan or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money,
or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or
facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or (C) in any
manner that would result in the violation of any Sanctions applicable to any party hereto. The foregoing clauses (B) and (C) of
this ‎Section 9.20 will not apply to any party hereto to which the Blocking Regulation applies, if and to the extent that such
representations are or would be unenforceable by or in respect of that party pursuant to, or would otherwise result in a breach and/or
violation of, (i) any provision of the Blocking Regulation (or any law or regulation implementing the Blocking Regulation in any
member state of the European Union) or (ii) any similar blocking or anti-boycott law in the United Kingdom.

 

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9.21.            Certain
Obligations Respecting Subsidiaries.

 

(1)            Subject
to any applicable limitation in any Basic Document, the Parent and the other Borrowers shall (and shall cause their Subsidiaries) take
the following actions at the Parent’s expense, upon (a) the formation or acquisition after the A&R Closing Date of any
Subsidiary that is not an Excluded Subsidiary, (b) the designation of any Unrestricted Subsidiary as a Subsidiary that is not an
Excluded Subsidiary or (c) any Subsidiary (including any Immaterial Subsidiary) ceasing to be an Excluded Subsidiary, (x) if
the event giving rise to the obligation under this Section 9.21 occurs during the first three fiscal quarters of any fiscal year,
on or before the later of (I) 60 days following the relevant formation, acquisition, designation or cessation and (II) the
date on which financial statements are required to be delivered pursuant to Section 9.01(2) for the fiscal quarter in which
such formation, acquisition, designation or cessation occurred or (y) if the event giving rise to the obligation under this Section 9.21
occurs during the fourth fiscal quarter of any fiscal year, on or before the date that is 90 days after the end of such fiscal quarter
(or, in the cases of clauses (x) and (y), such longer period as the Administrative Agent may reasonably agree) (or, in the cases
of clauses (x) and (y), such longer period as the Administrative Agent may reasonably agree) (i) cause the applicable Subsidiary
to execute and deliver a joinder to the Subsidiary Pledge Agreement and the Subsidiary Guaranty; (ii) cause the Subsidiary (and
any Obligor of which the applicable Subsidiary is a direct Subsidiary) to (A) deliver any and all certificates representing its
Capital Stock (to the extent certificated) that constitute Collateral and are required to be delivered pursuant to any Security Document,
accompanied by undated stock powers or other appropriate instruments of transfer executed in blank (or any other documents customary
under local law) and (B) deliver all instruments evidencing Indebtedness held by such Subsidiary that constitute Collateral and
are required to be delivered pursuant to any Security Document, endorsed in blank; and (iii) upon request of the Administrative
Agent deliver to the Administrative Agent a signed copy of a customary opinion, addressed to the Administrative Agent and the other Credit
Parties, of counsel for the such applicable Subsidiary as to such matters as the Administrative Agent may reasonably request; provided
that such matters are not inconsistent with those addressed in opinions delivered on the A&R Closing Date or customary market
practice.

 

(2)            Notwithstanding
anything to the contrary in this Section 9.21, but subject to clause (3) of this Section 9.21, (I) no Excluded
Subsidiary shall be required to be or become a party to the Subsidiary Guaranty or otherwise Guarantee the obligations of the Borrowers
hereunder, (II) the Parent and its Subsidiaries shall only be required to pledge 66% of the Voting Stock and 100% of the non-Voting
Stock of any Excluded Subsidiary that is an Excluded Subsidiary solely due to clause (f) of the definition thereof, in each case,
that is directly held and wholly owned by the Parent and/or other Obligors that are Domestic Subsidiaries of the Parent, (III) the
Parent and its Subsidiaries shall not be required to pledge any Capital Stock of any Excluded Subsidiary other than Excluded Subsidiaries
that are (x) Excluded Subsidiaries solely due to clause (f) of the definition thereof and (y) directly held by the Parent
and/or other Obligors that are Domestic Subsidiaries of the Parent, (IV) except as set forth in clause (3) of this Section 9.21,
no Obligor shall be required to take any action (a) in (x) Puerto Rico or (y) outside of any State of the United States
with respect to any assets located outside of any State of the United States, (b) in any jurisdiction other than a State of the
United States or (c) required by the laws of any jurisdiction other than the a State of the United States to create, perfect or
maintain any security interest and (V) no Foreign Subsidiary shall be required to become a party to the Subsidiary Pledge Agreement
or otherwise pledge its assets to secure the obligations hereunder.

 

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(3)            Notwithstanding
the other provisions of this Agreement, (i) Iron Mountain Canada Operations ULC shall be required to pledge 66% the Capital Stock
owned by it in its Subsidiaries and other property of the type constituting Collateral under the Canadian Borrower Pledge Agreement and
(ii) a PPSA financing statement shall be filed in the appropriate filing office evidencing the security interest granted under the
Canadian Borrower Pledge Agreement and the Canadian Borrower shall deliver certificated Capital Stock and promissory notes and take other
actions, in each case to the extent required by the Canadian Borrower Pledge Agreement.

 

9.22.            Environmental
Matters. The Company will promptly give to the Lenders notice in writing of any complaint, order, citation, notice or other written
communication from any Person with respect to, or if the Company becomes aware after due inquiry of, (i) the existence or alleged
existence of a violation of any applicable Environmental Law or the incurrence of any liability, obligation, remedial action, loss, damage,
cost, expense, fine, penalty or sanction resulting from any air emission, water discharge, noise emission, asbestos, Hazardous Substance
or any other environmental, health or safety matter at, upon, under or within any property now or previously owned, leased, operated
or used by the Parent or any of its Subsidiaries or any part thereof, or due to the operations or activities of the Parent, any Subsidiary
or any other Person on or in connection with such property or any part thereof (including receipt by the Company or any Subsidiary of
any notice of the happening of any event involving the Release or cleanup of any Hazardous Substance), (ii) any Release on such
property or any part thereof in a quantity that is reportable under any applicable Environmental Law, (iii) the commencement of
any cleanup pursuant to or in accordance with any applicable Environmental Law of any Hazardous Substances on or about such property
or any part thereof and (iv) any pending or threatened proceeding for the termination, suspension or non-renewal of any permit required
under any applicable Environmental Law, in each of the cases (i), (ii), (iii) and (iv), which individually or in the aggregate could
have a Material Adverse Effect.

 

9.23.            [Reserved].

 

9.24.            Further
Assurances. Promptly upon the reasonable request of the Administrative Agent and subject to the limitations described in Section 9.21:

 

(1)            the
Parent will, and will cause its Subsidiaries to, execute any and all further documents, financing statements, agreements, instruments,
certificates, notices and acknowledgments and take all such further actions that may be required under any applicable law and which the
Administrative Agent may reasonably request to ensure the creation, perfection and priority of the Liens created or intended to be created
under the Security Documents, all at the expense of the Parent.

 

(2)            the
Parent will, and will cause each other Obligor to, (a) correct any material defect or error that may be discovered in the execution,
acknowledgment, filing or recordation of any Security Document or other document or instrument relating to any Collateral and (b) do,
execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts (including notices
to third parties), deeds, certificates, assurances and other instruments as the Administrative Agent may reasonably request from time
to time in order to ensure the creation, perfection and priority of the Liens created under the Security Documents.

 

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9.25.            Unrestricted
Subsidiaries. The Parent may at any time after the A&R Closing Date designate any Subsidiary as an Unrestricted Subsidiary or
remove an Unrestricted Subsidiary’s designation as such (a “Designation Removal”); provided that (i) immediately
before and after any such designation, no Default or Event of Default has occurred and is continuing (including after giving effect to
the reclassification of Investments in, Indebtedness of, and Liens on the assets of, the applicable Subsidiary or Unrestricted Subsidiary)
and (ii) after giving effect to any such designation, the Parent shall be in compliance with the Financial Covenants on a pro
forma basis as of the last day of the most recently ended TTM Period and (iii) as of the date of the designation thereof, no
Unrestricted Subsidiary shall own any Capital Stock in any Subsidiary of the Parent (other than another Unrestricted Subsidiary) or hold
any Indebtedness of, or any Lien on, any property of the Parent and its Subsidiaries; provided, further, that any Unrestricted
Subsidiary that is re-designated as a Subsidiary pursuant to a Designation Removal may not subsequently be designated as an Unrestricted
Subsidiary. The designation of any Subsidiary as an Unrestricted Subsidiary shall constitute an Investment by the Parent (or its applicable
Subsidiary) therein at the date of designation in an amount equal to the portion of the fair market value of the net assets of such Subsidiary
attributable to the Parent’s (or its applicable Subsidiary’s) equity interests therein as reasonably estimated by the Parent
(and such designation shall only be permitted to the extent such Investment is permitted under Section 9.14). A Designation Removal
shall constitute the making, incurrence or granting, as applicable, at the time of designation of any then-existing Investment, Indebtedness
or Lien of such Subsidiary, as applicable; provided that upon any Designation Removal, the Parent shall be deemed to have received
a return on any Investment by the Parent and its Subsidiaries in the resulting Subsidiary in an amount equal to the portion of the fair
market value of the net assets of such Subsidiary attributable to the Parent’s equity therein at the time of such re-designation.

 

Section 10.
Defaults.

 

10.01.            Events
of Default. If one or more of the following events (herein called “Events of Default”) shall occur and be continuing:

 

(1)            failure
by any Borrower to pay (a) any principal of any Loan when due, whether at stated maturity, by acceleration, by notice of voluntary
prepayment, by mandatory prepayment or otherwise, (b) any Reimbursement Obligation when due or (c) any interest on any Loan,
any fee or other non-principal amount due hereunder within five Business Days after the date due;

 

(2)            the
Parent or any of its Subsidiaries shall default in the payment when due of any principal of or interest on (i) any Indebtedness
having an aggregate outstanding principal amount of at least $250,000,000 (other than the Loans and other than Indebtedness of any SPE
for which there is no recourse to the Parent or any Subsidiary other than an SPE and other than Indebtedness owed by Excluded Subsidiaries)
or (ii) any Indebtedness under the Australian Credit Agreement or the documents governing any refinancing thereof); or any event
or condition shall occur which results in the acceleration of the maturity of any such Indebtedness or enables (or, with the giving of
notice or lapse of time or both, would enable) the holder of any such Indebtedness or any Person acting on such holder’s behalf
to accelerate the maturity thereof; or

 

(3)            any
representation or warranty made or deemed made by any Borrower or any other Obligor in any Basic Document, or in any certificate or financial
information furnished to any Lender, the Administrative Agent or the Canadian Administrative Agent pursuant to the provisions of any
Basic Document, shall prove to have been false or misleading in any material respect as of the time made or furnished; or

 

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(4)            (i) the
Parent or the Company shall default in the performance of any of its obligations under Section 9.01(7), Section 9.04(a) (with
respect to the Parent or the Company), Sections 9.08 through 9.17 hereof and/or Section 9.20 hereof or (ii) any Borrower
or any other Obligor shall default in the performance of any of its other obligations in any Basic Document, and such default described
in this subclause (ii) shall continue unremedied for a period of 30 days after notice thereof to the Company by the Administrative
Agent or the Majority Lenders (through the Administrative Agent); provided that, notwithstanding anything to the contrary in this
clause (4), no breach or default under the Financial Covenants will constitute an Event of Default with respect to any Term B Loans unless
and until the Majority Lenders have accelerated the Revolving Loans and Term Loans (other than any Term B Loans), terminated the Revolving
Commitments and any Commitments with respect to Term Loans (other than any Term B Loans) and demanded repayment of, or otherwise accelerated,
the Indebtedness or other obligations hereunder (other than the Term B Loans and any obligations related thereto) and have not rescinded
such demand or acceleration; provided further, it is understood and agreed that no Event of Default shall arise under ‎the
Financial Covenants for any fiscal quarter unless and until the earlier of (x) the date the financial statements for such fiscal
quarter are delivered (or required to be delivered) pursuant to Section 9.01(1) or 9.01(2) and (y) the first date
following the end of such fiscal quarter that the chief financial officer of the Parent is certain, based on his/her review and knowledge
of internally prepared financial statements of the Parent and its Subsidiaries, that the Parent and its Subsidiaries were not in compliance
with any applicable Financial Covenant as of the last day of such fiscal quarter;

 

(5)            the
Parent or any Significant Subsidiary (or a group of Subsidiaries that, if consolidated, would constitute a Significant Subsidiary) shall
admit in writing its inability to, or be generally unable to, pay its debts as such debts become due; or

 

(6)            the
Parent or any Significant Subsidiary (or group of Subsidiaries that, if consolidated, would constitute a Significant Subsidiary) shall
(i) apply for or consent to the appointment of, or the taking of possession by, a receiver, interim receiver, receiver-manager,
custodian, trustee or liquidator or like official of itself or of all or a substantial part of its property, (ii) make a general
assignment for the benefit of its creditors, (iii) commence a voluntary case under the Bankruptcy Code or any other Debtor Relief
Law, (iv) file a petition, case or proceeding seeking to take advantage of any other law relating to bankruptcy, insolvency, reorganization,
or composition or readjustment of debts, (v) fail to controvert in a timely and appropriate manner, or acquiesce in writing to,
any petition filed against it in an involuntary case under the Bankruptcy Code or any other Debtor Relief Law, or (vi) take any
corporate action for the purpose of effecting any of the foregoing; or

 

(7)            a
proceeding or case shall be commenced, without the application or consent of the Parent or any Significant Subsidiary (or group of Subsidiaries
that, if consolidated, would constitute a Significant Subsidiary) in any court of competent jurisdiction, seeking (i) its liquidation,
reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (ii) the appointment of a trustee, receiver,
interim receiver, receiver-manager, custodian, liquidator or the like of such Person or of all or any substantial part of its assets,
or (iii) similar relief in respect of such Person under any law relating to bankruptcy, insolvency, reorganization, winding-up,
or composition or adjustment of debts, and such proceeding or case shall continue undismissed, or an order, judgment or decree approving
or ordering any of the foregoing shall be entered and continue unstayed and in effect, for a period of 60 days; or an order for relief
against such Person shall be entered in an involuntary case or proceeding under the Bankruptcy Code, any Debtor Relief Law or any other
law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or adjustment of debts; or

 

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(8)            one
or more judgments or decrees shall be entered against the Parent or any of its Significant Subsidiaries involving in the aggregate liabilities
(not paid or in excess of the amount recoverable by insurance) of $250,000,000 or more, and all such judgments and decrees shall not
have been vacated, discharged, stayed or appealed (as long as enforcement is effectively stayed during such appeal or such appeal is
bonded, if required) within 60 days from the entry thereof;

 

(9)            an
ERISA Event shall have occurred that, when taken together with all other ERISA Events that have occurred, would reasonably be expected
to result in a Material Adverse Effect;

 

(10)            any
Change of Control shall occur; or

 

(11)            (i) any
material provision of the Security Document or the Parent Guaranty or the Company Guaranty or the Subsidiary Guaranty shall cease, for
any reason, to be in full force and effect (other than as provided therein) or any party thereto (other than the Lenders) shall so assert
in writing; or (ii) any Security Document shall cease to be effective to grant a Lien on a material portion of the Collateral described
therein with the priority purported to be created thereby, in each case, other than as expressly permitted hereby.

 

THEREUPON: the Administrative
Agent may (and, if directed by the Majority Lenders, shall) (a) declare the Commitments terminated (whereupon the Commitments shall
be terminated) and/or (b) declare the principal amount then outstanding of and the accrued interest on the Loans, the Reimbursement
Obligations, and commitment fees and all other amounts payable hereunder to be forthwith due and payable, whereupon such amounts shall
be and become immediately due and payable, without notice (including, without limitation, notice of intent to accelerate), presentment,
demand, protest or other formalities of any kind, all of which are hereby expressly waived by each of the Borrowers; provided
that (A) in the case of the occurrence of an Event of Default with respect to any Borrower referred to in clause (6) or (7) of
this Section 10.01, the Commitments shall be automatically terminated and the principal amount then outstanding of and the accrued
interest on the Loans, the Reimbursement Obligations, and commitment fees and all other amounts payable hereunder shall be and become
automatically and immediately due and payable, without notice (including, without limitation, notice of intent to accelerate), presentment,
demand, protest or other formalities of any kind, all of which are hereby expressly waived by each of the Borrowers and (B) in the
case of the occurrence of an Event of Default arising under the Financial Covenants, after giving effect to the second proviso in Section 10.01(4),
the Administrative Agent may (and, if directed by the Majority Lenders, shall) (a) declare the Revolving Commitments terminated
(whereupon the Revolving Commitments shall be terminated) and the Commitments with respect to Term Loans (other than any Term B Loans)
terminated (whereupon such Commitments shall be terminated) and/or (b) declare the principal amount then outstanding of and the
accrued interest on the Loans (other than any Term B Loans), the Reimbursement Obligations, and commitment fees and all other amounts
payable hereunder (other than such fees and other amounts with respect to Term B Loans) to be forthwith due and payable, whereupon such
amounts shall be and become immediately due and payable, without notice (including, without limitation, notice of intent to accelerate),
presentment, demand, protest or other formalities of any kind, all of which are hereby expressly waived by each of the Borrowers.

 

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In addition, upon the occurrence
and during the continuance of any Event of Default (if the Administrative Agent has declared the principal amount then outstanding of,
and accrued interest on, the Loans and all other amounts payable by the Borrowers to be due and payable), the Company agrees that it
shall, if requested by the Administrative Agent or the Majority Lenders through the Administrative Agent (and, in the case of any Event
of Default referred to in clause (6) or (7) of this Section 10.01 with respect to any Borrower, forthwith, without any
demand or the taking of any other action by the Administrative Agent or such Lenders) provide cover for the Letter of Credit Liabilities
by paying to the Administrative Agent immediately available funds in an amount equal to 103% of the then aggregate undrawn stated amount
of all Letters of Credit, which funds shall be held by the Administrative Agent in the Collateral Account as collateral security in the
first instance for the Letter of Credit Liabilities.

 

10.02.            Ratable
Treatment of Lenders. In the event that the Loans and the Reimbursement Obligations shall be declared or become immediately due and
payable on any date (the “Acceleration Date”) pursuant to Section 10.01 hereof, each of the Borrowers and the
Revolving Lenders agree that the outstanding Revolving Loans and Reimbursement Obligations and accrued but unpaid interest thereon not
denominated in Dollars shall be automatically converted to Dollars on the Acceleration Date at the then applicable Exchange Rate and
any Reimbursement Obligation not denominated in Dollars thereafter arising shall be automatically converted to Dollars on the date of
the drawing giving rise thereto under the relevant Letter of Credit at the then applicable Exchange Rate. The Revolving Lenders hereby
irrevocably agree for the benefit of each other (and not for the benefit of any of the Borrowers or the other Obligors) that, effective
as of the Acceleration Date, each Revolving Lender shall acquire participations in each then outstanding Revolving Loan and Letter of
Credit Liability in proportion to the aggregate outstanding amount of Revolving Loans of such Revolving Lender plus such Revolving Lender’s
L/C Exposure, to the aggregate outstanding amount of Revolving Loans of all the Revolving Lenders plus all Revolving Lenders’ L/C
Exposure, in each case determined immediately prior to the Acceleration Date (such Revolving Lender’s “Proportion”).
On or promptly following the Acceleration Date, the Administrative Agent shall determine for each Revolving Lender the difference between
(a) such Revolving Lender’s Proportion of the aggregate principal amount of the outstanding Revolving Loans and Reimbursement
Obligations on the Acceleration Date after giving effect to the automatic conversion to Dollars and (b) the aggregate principal
amount of such Revolving Lender’s actual outstanding Revolving Loans and Reimbursement Obligations on the Acceleration Date after
giving effect to the automatic conversions to Dollars. Each Revolving Lender whose difference is positive shall make a payment which
is equal to such difference to the Administrative Agent in Dollars in immediately available funds on a date set by the Administrative
Agent promptly following the Acceleration Date. The Administrative Agent shall distribute such payment to the Revolving Lenders whose
differences are negative, with such distribution to be ratable based upon the respective amounts of such negative differences. On each
subsequent date on which a Reimbursement Obligation arises by virtue of a draw on a Letter of Credit, each Revolving Lender shall, promptly
after being notified thereof, make a payment to the Issuing Bank equal to its Proportion of such Reimbursement Obligation. To the extent
that any Revolving Lender shall fail to pay any amount required to be paid pursuant to this Section 10.02 on the due date therefor,
such Revolving Lender shall pay interest to the Administrative Agent for ratable distribution to the Revolving Lenders or Issuing Bank
entitled thereto on such amount from and including such due date to but excluding the date such payment is made at a rate per annum equal
to the Federal Funds Effective Rate, provided that if such Revolving Lender shall fail to make such payment within three Business
Days of such due date, then, retroactively to the due date, such Revolving Lender shall be obligated to pay interest on such amount at
the Alternate Base Rate.

 

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Section 11.
The Administrative Agent; Other Agents.

 

11.01.            Appointment
Powers and Immunities.

 

(a)            Each
Lender and each Issuing Bank hereby irrevocably appoints the entity named as Administrative Agent in the heading of this Agreement and
its successors and assigns to serve as the administrative agent and collateral agent under the Basic Documents and each Lender and each
Issuing Bank authorizes the Administrative Agent to take such actions as agent on its behalf and to exercise such powers under this Agreement
and the other Basic Documents as are delegated to the Administrative Agent under such agreements and to exercise such powers as are reasonably
incidental thereto. In addition, to the extent required under the laws of any jurisdiction other than within the United States, each
Lender and each Issuing Bank hereby grants to the Administrative Agent any required powers of attorney to execute and enforce any Security
Document governed by the laws of such jurisdiction on such Lender’s or such Issuing Bank’s behalf. Without limiting the foregoing,
each Lender and each Issuing Bank hereby authorizes the Administrative Agent to execute and deliver, and to perform its obligations under,
each of the Basic Documents to which the Administrative Agent is a party, and to exercise all rights, powers and remedies that the Administrative
Agent may have under such Basic Documents.

 

(b)            As
to any matters not expressly provided for herein and in the other Basic Documents (including enforcement or collection), the Administrative
Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and
shall be fully protected in so acting or refraining from acting) upon the written instructions of the Majority Lenders (or such other
number or percentage of the Lenders as shall be necessary, pursuant to the terms in the Basic Documents), and, unless and until revoked
in writing, such instructions shall be binding upon each Lender and each Issuing Bank; provided, however, that the Administrative Agent
shall not be required to take any action that (1) the Administrative Agent in good faith believes exposes it to liability unless
the Administrative Agent receives an indemnification and is exculpated in a manner satisfactory to it from the Lenders and the Issuing
Banks with respect to such action or (2) is contrary to this Agreement or any other Basic Document or applicable law, including
any action that may be in violation of the automatic stay under any requirement of law relating to bankruptcy, insolvency or reorganization
or relief of debtors or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of
any requirement of law relating to bankruptcy, insolvency or reorganization or relief of debtors; provided, further, that the Administrative
Agent may seek clarification or direction from the Majority Lenders prior to the exercise of any such instructed action and may refrain
from acting until such clarification or direction has been provided. Except as expressly set forth in the Basic Documents, the Administrative
Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to any Borrower,
any Subsidiary or any Affiliate of any of the foregoing that is communicated to or obtained by the Person serving as Administrative Agent
or any of its Affiliates in any capacity. Nothing in this Agreement shall require the Administrative Agent to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights
or powers if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability
is not reasonably assured to it.

 

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(c)            In
performing its functions and duties hereunder and under the other Basic Documents, the Administrative Agent is acting solely on behalf
of the Lenders and the Issuing Banks (except in limited circumstances expressly provided for herein relating to the maintenance of the
Register), and its duties are entirely mechanical and administrative in nature. Without limiting the generality of the foregoing:

 

(i)              the
Administrative Agent does not assume and shall not be deemed to have assumed any obligation or duty or any other relationship as the
agent, fiduciary or trustee of or for any Lender, Issuing Bank or holder of any other obligation other than as expressly set forth
herein and in the other Basic Documents, regardless of whether a Default or an Event of Default has occurred and is continuing (and it
is understood and agreed that the use of the term “agent” (or any similar term) herein or in any other Basic Document with
reference to the Administrative Agent is not intended to connote any fiduciary duty or other implied (or express) obligations arising
under agency doctrine of any applicable law, and that such term is used as a matter of market custom and is intended to create or reflect
only an administrative relationship between contracting parties); additionally, each Lender agrees that it will not assert any claim
against the Administrative Agent based on an alleged breach of fiduciary duty by the Administrative Agent in connection with this Agreement
and/or the transactions contemplated hereby;

 

(ii)             where
the Administrative Agent is required or deemed to act as a trustee in respect of any Collateral over which a security interest has been
created pursuant to a Basic Document expressed to be governed by the laws of Canada, or is required or deemed to hold any Collateral
 “on trust” pursuant to the foregoing, the obligations and liabilities of the Administrative Agent to the Credit Parties in
its capacity as trustee shall be excluded to the fullest extent permitted by applicable law; and

 

(iii)            nothing
in this Agreement or any Basic Document shall require the Administrative Agent to account to any Lender for any sum or the profit element
of any sum received by the Administrative Agent for its own account.

 

(d)            The
Administrative Agent may perform any of its duties and exercise its rights and powers hereunder or under any other Basic Document by
or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform
any of their respective duties and exercise their respective rights and powers through their respective Related Parties. The exculpatory
provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such
sub-agent, and shall apply to their respective activities pursuant to this Agreement. The Administrative Agent shall not be responsible
for the negligence or misconduct of any sub-agent except to the extent that a court of competent jurisdiction determines in a final and
nonappealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agent.

 

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

 

(i)               to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations
that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders,
the Issuing Banks and the Administrative Agent (including any claim under Sections 2.03, 4.02, 5.08, 6.01, 6.05, 6.06, 6.08, 12.03 and
12.04) allowed in such judicial proceeding; and

 

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

 

(iii)            and
any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such proceeding is hereby authorized
by each Lender, each Issuing Bank and each other Credit Party to make such payments to the Administrative Agent and, in the event that
the Administrative Agent shall consent to the making of such payments directly to the Lenders, the Issuing Banks or the other Credit
Parties, to pay to the Administrative Agent any amount due to it, in its capacity as the Administrative Agent, under the Basic Documents
(including under Sections 12.03 and 12.04). Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize
or consent to or accept or adopt on behalf of any Lender or Issuing Bank any plan of reorganization, arrangement, adjustment or composition
affecting the Obligations or the rights of any Lender or Issuing Bank or to authorize the Administrative Agent to vote in respect of
the claim of any Lender or Issuing Bank in any such proceeding.

 

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

 

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11.02.            Administrative
Agent’s Reliance, Limitation of Liability, Etc.

 

(a)            Neither
the Administrative Agent nor any of its Related Parties shall be (i) liable to any Lender or Issuing Bank for any action taken or
omitted to be taken by such party, the Administrative Agent or any of its Related Parties under or in connection with this Agreement
or the other Basic Documents (x) with the consent of or at the request of the Majority Lenders (or such other number or percentage
of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith to be necessary, under the circumstances
as provided in the Basic Documents) or (y) in the absence of its own gross negligence or willful misconduct (such absence to be
presumed unless otherwise determined by a court of competent jurisdiction by a final and non-appealable judgment) or (ii) responsible
in any manner to any of the Lenders for any recitals, statements, representations or warranties made by any Obligor or any officer thereof
contained in this Agreement or any other Basic Document or in any certificate, report, statement or other document referred to or provided
for in, or received by the Administrative Agent under or in connection with, this Agreement or any other Basic Document or for the value,
validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Basic Document (including, for the
avoidance of doubt, in connection with the Administrative Agent’s reliance on any Electronic Signature transmitted by telecopy,
emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page) or for any failure of any Obligor
to perform its obligations hereunder or thereunder.

 

(b)            The
Administrative Agent shall be deemed not to have knowledge of any notice of any Default or Event of Default unless and until written
notice thereof (stating that it is a “notice of Default” or a “notice of an Event of Default”) is given to the
Administrative Agent by a Borrower, a Lender or an Issuing Bank. Further, the Administrative Agent shall not be responsible for or have
any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Basic Document,
(ii) the contents of any certificate, report or other document delivered thereunder or in connection therewith, (iii) the performance
or observance of any of the covenants, agreements or other terms or conditions set forth in any Basic Document or the occurrence of any
Default or Event of Default, (iv) the sufficiency, validity, enforceability, effectiveness or genuineness of any Basic Document
or any other agreement, instrument or document, (v) the satisfaction of any condition set forth in Section 7, the Amendment
and Restatement Agreement or elsewhere in any Basic Document, other than to confirm receipt of items (which on their face purport to
be such items) expressly required to be delivered to the Administrative Agent or satisfaction of any condition that expressly refers
to the matters described therein being acceptable or satisfactory to the Administrative Agent, or (vi) the creation, perfection
or priority of Liens on the Collateral. Notwithstanding anything herein to the contrary, the Administrative Agent shall not be liable
for, or be responsible for any liabilities, costs or expenses suffered by any Lender or any Issuing Bank as a result of, any determination
of the amount of Revolving Loans or Letter of Credit Liabilities, any of the component amounts thereof or any portion thereof attributable
to each Lender or Issuing Bank.

 

(c)            Without
limiting the foregoing, the Administrative Agent (i) may treat the payee of any promissory note as its holder until such promissory
note has been assigned in accordance with Section 12.06, (ii) may rely on the Register to the extent set forth in Section 12.06(e),
(iii) may consult with legal counsel (including counsel to the Borrowers), independent public accountants and other experts selected
by it, and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such
counsel, accountants or experts, (iv) makes no warranty or representation to any Lender or Issuing Bank and shall not be responsible
to any Lender or Issuing Bank for any statements, warranties or representations made by or on behalf of any Obligor in connection with
this Agreement or any other Basic Document, (v) in determining compliance with any condition hereunder to the making of a Loan,
or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or an Issuing Bank, may presume
that such condition is satisfactory to such Lender or Issuing Bank unless the Administrative Agent shall have received notice to the
contrary from such Lender or Issuing Bank sufficiently in advance of the making of such Loan or the issuance of such Letter of Credit
and (vi) shall be entitled to rely on, and shall incur no liability under or in respect of this Agreement or any other Basic Document
by acting upon, any notice, consent, certificate or other instrument or writing (which writing may be a fax, any electronic message, Internet
or intranet website posting or other distribution) or any statement made to it orally or by telephone and believed by it to be genuine
and signed or sent or otherwise authenticated by the proper party or parties (whether or not such Person in fact meets the requirements
set forth in the Basic Documents for being the maker thereof).

 

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(d)            The
Administrative Agent Individually. With respect to its Commitment, Loans, Letter of Credit Sublimit and Letters of Credit, the Person
serving as the Administrative Agent shall have and may exercise the same rights and powers hereunder and is subject to the same obligations
and liabilities as and to the extent set forth herein for any other Lender or Issuing Bank, as the case may be. The terms “Issuing
Banks”, “Lenders”, “Majority Lenders”, “Majority Revolving Lenders” and any similar terms shall,
unless the context clearly otherwise indicates, include the Administrative Agent in its individual capacity as a Lender, Issuing
Bank or as one of the Majority Lenders, as applicable. The Person serving as the Administrative Agent and its Affiliates may accept deposits
from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any
kind of banking, trust or other business with, any Borrower, any Subsidiary or any Affiliate of any of the foregoing as if such Person
was not acting as the Administrative Agent and without any duty to account therefor to the Lenders or the Issuing Banks.

 

11.03.            Indemnification.
The Lenders agree to indemnify the Administrative Agent (to the extent not reimbursed under Section 12.03 or 12.04 hereof, but without
limiting the obligations of the Company and the Parent under said Sections 12.03 and 12.04), ratably in accordance with the principal
amount of their respective Loans and Reimbursement Obligations outstanding, or if no Loans or Reimbursement Obligations are outstanding,
ratably in accordance with their respective Revolving Commitments, for any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind and nature whatsoever which may be imposed on, incurred by or
asserted against the Administrative Agent in any way relating to or arising out of this Agreement or any other Basic Document or any
other documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby (including, without
limitation, the costs and expenses which the Company or the Parent is obligated to pay under Sections 12.03 and 12.04 hereof but excluding,
unless a Default has occurred and is continuing, normal administrative costs and expenses incident to the performance of its agency duties
hereunder) or the enforcement of any of the terms hereof or thereof or of any such other documents, provided, that no Lender shall
be liable for any of the foregoing to the extent they arise from the gross negligence or willful misconduct of the party to be indemnified.

 

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11.04.            Non-Reliance
on Administrative Agent and Other Lenders.

 

(a)            Each
Lender and each Issuing Bank represents and warrants that (i) the Basic Documents set forth the terms of a commercial lending facility,
(ii) it is engaged in making, acquiring or holding commercial loans and in providing other facilities set forth herein as may be
applicable to such Lender or Issuing Bank, in each case in the ordinary course of business, and not for the purpose of purchasing, acquiring
or holding any other type of financial instrument (and each Lender and each Issuing Bank agrees not to assert a claim in contravention
of the foregoing), (iii) it has, independently and without reliance upon the Administrative Agent, any Lead Arranger, any Joint
Bookrunner, any Co-Syndication Agent, any Co-Documentation Agent or any other Lender or Issuing Bank, or any of the Related Parties of
any of the foregoing, and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision
to enter into this Agreement as a Lender, and to make, acquire or hold Loans or Commitments hereunder and (iv) it is sophisticated
with respect to decisions to make, acquire and/or hold commercial loans and to provide other facilities set forth herein, as may be applicable
to such Lender or such Issuing Bank, and either it, or the Person exercising discretion in making its decision to make, acquire and/or
hold such commercial loans or to provide such other facilities, is experienced in making, acquiring or holding such commercial loans
or providing such other facilities. Each Lender and each Issuing Bank also acknowledges that it will, independently and without reliance
upon the Administrative Agent, any Lead Arranger, any Joint Bookrunner, any Co-Syndication Agent, any Co-Documentation Agent, or any
of the Related Parties of any of the foregoing, and based on such documents and information (which may contain material, non-public information
within the meaning of the United States securities laws concerning the Parent, the Company, any Borrower and their respective Affiliates)
as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon
this Agreement, any other Basic Document or any related agreement or any document furnished hereunder or thereunder.

 

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

 

(c)

 

(i)               Each
Lender or Issuing Bank hereby agrees that (x) if the Administrative Agent notifies such Lender or Issuing Bank that the Administrative
Agent has determined in its sole discretion that any funds received by such Lender or Issuing Bank from the Administrative Agent
or any of its Affiliates (whether as a payment, prepayment or repayment of principal, interest, fees or otherwise; individually and collectively,
a “Payment”) were erroneously transmitted to such Lender or Issuing Bank (whether or not known to such Lender or Issuing
Bank), and demands the return of such Payment (or a portion thereof), such Lender or Issuing Bank shall promptly, but in no event later
than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment (or portion thereof) as to which
such a demand was made in same day funds, together with interest thereon in respect of each day from and including the date such Payment
(or portion thereof) was received by such Lender or Issuing Bank to the date such amount is repaid to the Administrative Agent at the
greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation from time to time in effect, and (y) to the extent permitted by applicable law, such Lender or Issuing Bank shall not
assert, and hereby waives, as to the Administrative Agent, any claim, counterclaim, defense or right of set-off or recoupment with respect
to any demand, claim or counterclaim by the Administrative Agent for the return of any Payments received, including without limitation
any defense based on “discharge for value” or any similar doctrine. A notice of the Administrative Agent to any Lender or
Issuing Bank under this Section 11.06(c) shall be conclusive, absent manifest error.

 

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(ii)              Each
Lender and each Issuing Bank hereby further agrees that if it receives a Payment from the Administrative Agent or any of its Affiliates
(x) that is in a different amount than, or on a different date from, that specified in a notice of payment sent by the Administrative
Agent (or any of its Affiliates) with respect to such Payment (a “Payment Notice”) or (y) that was not preceded
or accompanied by a Payment Notice, it shall be on notice, in each such case, that an error has been made with respect to such Payment. 
Each Lender and each Issuing Bank agrees that, in each such case, or if it otherwise becomes aware a Payment (or portion thereof) may
have been sent in error, such Lender or Issuing Bank shall promptly notify the Administrative Agent of such occurrence and, upon demand
from the Administrative Agent, it shall promptly, but in no event later than one Business Day thereafter, return to the Administrative
Agent the amount of any such Payment (or portion thereof) as to which such a demand was made in same day funds, together with interest
thereon in respect of each day from and including the date such Payment (or portion thereof) was received by such Lender or Issuing Bank
to the date such amount is repaid to the Administrative Agent at the greater of the NYFRB Rate and a rate determined by the Administrative
Agent in accordance with banking industry rules on interbank compensation from time to time in effect.

 

(iii)            Each
Obligor hereby agrees that (x) in the event an erroneous Payment (or portion thereof) are not recovered from any Lender or Issuing
Bank that has received such Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all the rights
of such Lender or Issuing Bank with respect to such amount and (y) an erroneous Payment shall not pay, prepay, repay, discharge
or otherwise satisfy any Obligations owed by any Borrower or other Obligor; provided that, the immediately preceding clause (y) shall
not apply to the extent any such Payment is, and solely with respect to the amount of such Payment that is, comprised of funds received
by the Administrative Agent from any Borrower or any other Obligor for the purpose of making a Payment.

 

(iv)            Each
party’s obligations under this Section 11.06 shall survive the resignation or replacement of the Administrative Agent or any
transfer of rights or obligations by, or the replacement of, a Lender or Issuing Bank, the termination of the Commitments or the repayment,
satisfaction or discharge of all Obligations under any Basic Document.

 

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11.05.            Failure
to Act. Except for action expressly required of the Administrative Agent hereunder and under the other Basic Documents, the Administrative
Agent shall in all cases be fully justified in failing or refusing to act hereunder and thereunder unless it shall receive further assurances
to its satisfaction by the Lenders of their indemnification obligations under Section 11.03 hereof against any and all liability
and expense which may be incurred by it by reason of taking or continuing to take any such action.

 

11.06.            Resignation
or Removal of Administrative Agent.

 

(a)            Subject
to the appointment and acceptance of a successor Administrative Agent as provided below, the Administrative Agent may resign at any time
by giving notice thereof to the Lenders and the Company and the Administrative Agent may be removed at any time that it is a Defaulting
Lender by the Majority Lenders. Upon any such resignation or removal, the Majority Lenders shall have the right to appoint a successor
Administrative Agent reasonably acceptable to the Company (provided that the Company’s consent shall not be required during
the occurrence or continuance of an Event of Default under Section 10.01(1), (6) or (7)). Upon any such resignation or removal,
the Administrative Agent that resigned or was removed shall, to the extent that its annual agency fee was paid in advance, pay to the
Company an amount equal to such fee multiplied by a fraction the numerator of which shall be the number of days remaining on the date
of such resignation or removal until the next anniversary of the A&R Closing Date, and the denominator of which shall be 365. If
no successor Administrative Agent shall have been so appointed by the Majority Lenders and shall have accepted such appointment within
30 days after the retiring Administrative Agent’s giving of notice of resignation or the Majority Lenders’ removal of the
Administrative Agent that is a Defaulting Lender (the “Notice Date”), then the retiring Administrative Agent may,
on behalf of the Lenders, appoint a successor Administrative Agent reasonably acceptable to the Company. Any successor Administrative
Agent shall be (i) a Lender or (ii) if no Lender has accepted such appointment within 30 days after the Notice Date, a bank
which has an office in New York, New York with a combined capital and surplus of at least $250,000,000. Upon the acceptance of any appointment
as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to
and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative
Agent shall be discharged from its duties and obligations hereunder. After any retiring Administrative Agent’s resignation or removal
hereunder as Administrative Agent, the provisions of this Section 11 shall continue in effect for its benefit in respect of any
actions taken or omitted to be taken by it while it was acting as the Administrative Agent.

 

(b)            Notwithstanding
paragraph (a) of this Section, in the event no successor Administrative Agent shall have been so appointed and shall have accepted
such appointment within 30 days after the Notice Date, the retiring Administrative Agent may give notice of the effectiveness of its
resignation to the Lenders, the Issuing Banks and the Company, whereupon, on the date of effectiveness of such resignation stated in
such notice, (i) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other
Basic Documents; provided that, solely for purposes of maintaining any security interest granted to the Administrative Agent under
any Security Document for the benefit of the Credit Parties, the retiring Administrative Agent shall continue to be vested with such
security interest as collateral agent for the benefit of the Credit Parties, and continue to be entitled to the rights set forth in such
Security Document and Basic Document, and, in the case of any Collateral in the possession of the Administrative Agent, shall continue
to hold such Collateral, in each case until such time as a successor Administrative Agent is appointed and accepts such appointment in
accordance with this Section (it being understood and agreed that the retiring Administrative Agent shall have no duty or obligation
to take any further action under any Security Document, including any action required to maintain the perfection of any such security
interest), and (ii) the Majority Lenders shall succeed to and become vested with all the rights, powers, privileges and duties of
the retiring Administrative Agent; provided that (I) all payments required to be made hereunder or under any other Basic
Document to the Administrative Agent for the account of any Person other than the Administrative Agent shall be made directly to such
Person and (II) all notices and other communications required or contemplated to be given or made to the Administrative Agent shall
directly be given or made to each Lender and each Issuing Bank. Following the effectiveness of the Administrative Agent’s resignation
from its capacity as such, the provisions of this Section and Sections 12.03 and 12.04, as well as any exculpatory, reimbursement
and indemnification provisions set forth in any other Basic Document, shall continue in effect for the benefit of such retiring Administrative
Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while
the retiring Administrative Agent was acting as Administrative Agent and in respect of the matters referred to in the proviso under clause
(i) above.

 

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(c)            Notwithstanding
anything to the contrary contained herein, if at any time any Issuing Bank assigns all of its Commitment and Loans hereunder, such Issuing
Bank may, upon 30 days’ notice to the Parent and the Revolving Lenders, resign as Issuing Bank. If any Issuing Bank resigns as
Issuing Bank, it shall retain all the rights, powers, privileges and duties of Issuing Bank hereunder with respect to all Letters of
Credit outstanding as of the effective date of such resignation until such Letters of Credit are terminated.

 

11.07.            Lead
Arrangers, Joint Bookrunners, Co-Documentation Agents and Co-Syndication Agents. None of any Lead Arranger, Joint Bookrunner, Co-Documentation
Agent or Syndication Agent shall have obligations or duties whatsoever in such capacity under this Agreement or any other Basic Document
and shall incur no liability hereunder or thereunder in such capacity, but all such persons shall have the benefit of the indemnities
provided for hereunder.

 

11.08.            Collateral
Sub-Agents. Each Lender by its execution and delivery of this Agreement agrees, as contemplated by the Security Documents, that,
in the event it shall hold any Liquid Investments referred to therein, such Liquid Investments shall be held in the name and under the
control of such Lender and such Lender shall hold such Liquid Investments as a collateral sub-agent for the Administrative Agent thereunder.

 

11.09.            Additional
Ministerial Powers of the Administrative Agent. The Administrative Agent is hereby irrevocably authorized by each of the Lenders
to (a) execute any document creating any Lien and to release any Lien covering any asset of the Parent or any of its Subsidiaries
that is the subject of a disposition, sale or assignment which is permitted under this Agreement and (b) take any other action to
release or subordinate Guaranties and Liens as provided in Section 12.17.

 

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11.10.            Canadian
Administrative Agent. The Canadian Administrative Agent shall be deemed to be a sub-agents of the Administrative Agent for all purposes
of this Agreement and entitled to the benefits of this Section 11.

 

11.11.            Posting
of Communications.

 

(a)            The
Parent, the Company and each Borrower agree that the Administrative Agent may, but shall not be obligated to, make any Communications
available to the Lenders and the Issuing Banks by posting the Communications on IntraLinksTM, DebtDomain, SyndTrak, ClearPar or
any other electronic platform chosen by the Administrative Agent to be its electronic transmission system (the “Approved Electronic
Platform”).

 

(b)            Although
the Approved Electronic Platform and its primary web portal are secured with generally-applicable security procedures and policies implemented
or modified by the Administrative Agent from time to time (including, as of the A&R Closing Date, a user ID/password authorization
system) and the Approved Electronic Platform is secured through a per-deal authorization method whereby each user may access the Approved
Electronic Platform only on a deal-by-deal basis, each of the Lenders, each of the Issuing Banks, the Parent, the Company and each Borrower
acknowledges and agrees that the distribution of material through an electronic medium is not necessarily secure, that the Administrative
Agent is not responsible for approving or vetting the representatives or contacts of any Lender that are added to the Approved Electronic
Platform, and that there may be confidentiality and other risks associated with such distribution. Each of the Lenders, each of the Issuing
Banks, the Parent, the Company and each Borrower hereby approves distribution of the Communications through the Approved Electronic Platform
and understands and assumes the risks of such distribution.

 

(c)            THE
APPROVED ELECTRONIC PLATFORM AND THE COMMUNICATIONS ARE PROVIDED "AS IS" AND "AS AVAILABLE". THE APPLICABLE
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS, OR THE ADEQUACY OF THE APPROVED ELECTRONIC
PLATFORM AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS OR OMISSIONS IN THE APPROVED ELECTRONIC PLATFORM AND 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 THE APPLICABLE PARTIES
IN CONNECTION WITH THE COMMUNICATIONS OR THE APPROVED ELECTRONIC PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT, ANY LEAD ARRANGER,
ANY JOINT BOOKRUNNER, ANY CO-DOCUMENTATION AGENT, ANY CO-SYNDICATION AGENT OR ANY OF THEIR RESPECTIVE RELATED PARTIES (COLLECTIVELY,
 “APPLICABLE PARTIES”) HAVE ANY LIABILITY TO ANY OBLIGOR, ANY LENDER, ANY ISSUING BANK OR ANY OTHER PERSON OR ENTITY
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 OBLIGOR’S OR THE ADMINISTRATIVE AGENT'S TRANSMISSION OF COMMUNICATIONS THROUGH
THE INTERNET OR THE APPROVED ELECTRONIC PLATFORM, EXCEPT TO THE EXTENT ARISING FROM THE BAD FAITH, GROSS NEGLIGENCE OR WILLFUL MISCONDUCT
OF SUCH PARTY, OR THE MATERIAL BREACH BY SUCH PARTY OF SECTION 12.07.

 

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“Communications”
means, collectively, any notice, demand, communication, information, document or other material provided by or on behalf of any Obligor
pursuant to any Basic Document or the transactions contemplated therein which is distributed by the Administrative Agent, any Lender
or any Issuing Bank by means of electronic communications pursuant to this Section, including through an Approved Electronic Platform.

 

(d)            Each
Lender and each Issuing Bank agrees that notice to it (as provided in the next sentence) specifying that Communications have been posted
to the Approved Electronic Platform shall constitute effective delivery of the Communications to such Lender for purposes of the Basic
Documents. Each Lender and Issuing Bank agrees (1) to notify the Administrative Agent in writing (which could be in the form of
electronic communication) from time to time of such Lender’s or Issuing Bank’s (as applicable) email address to which the
foregoing notice may be sent by electronic transmission and (2) that the foregoing notice may be sent to such email address.

 

(e)            Each
of the Lenders, each of the Issuing Banks, the Parent, the Company and each Borrower agrees that the Administrative Agent may, but (except
as may be required by applicable law) shall not be obligated to, store the Communications on the Approved Electronic Platform in accordance
with the Administrative Agent’s generally applicable document retention procedures and policies.

 

(f)            Nothing
herein shall prejudice the right of the Administrative Agent, any Lender or any Issuing Bank to give any notice or other communication
pursuant to any Basic Document in any other manner specified in such Basic Document.

 

11.12.            Collateral
Matters.

 

(a)            Except
with respect to the exercise of setoff rights in accordance with Section 12.19 or with respect to a Credit Party’s right to
file a proof of claim in an insolvency proceeding, no Credit Party shall have any right individually to realize upon any of the Collateral
or to enforce any Guarantee of the Obligations, it being understood and agreed that all powers, rights and remedies under the Basic Documents
may be exercised solely by the Administrative Agent on behalf of the Credit Parties in accordance with the terms thereof.

 

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

 

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(c)            The
Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding
the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s Lien
thereon or any certificate prepared by any Obligor in connection therewith, nor shall the Administrative Agent be responsible or liable
to the Lenders or any other Credit Party for any failure to monitor or maintain any portion of the Collateral.

 

11.13.            Credit
Bidding. The Credit Parties hereby irrevocably authorize the Administrative Agent, at the direction of the Majority Lenders, to credit
bid all or any portion of the Obligations (including by accepting some or all of the Collateral in satisfaction of some or all of the
Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase (either directly or through one or more
acquisition vehicles) all or any portion of the Collateral (1) at any sale thereof conducted under the provisions of the Bankruptcy
Code, including under Sections 363, 1123 or 1129 of the Bankruptcy Code, or any similar laws in any other jurisdictions to which an Obligor
is subject, or (2) at any other sale, foreclosure or acceptance of collateral in lieu of debt conducted by (or with the consent
or at the direction of) the Administrative Agent (whether by judicial action or otherwise) in accordance with any applicable law. In
connection with any such credit bid and purchase, the Obligations owed to the Credit Parties shall be entitled to be, and shall be, credit
bid by the Administrative Agent at the direction of the Majority Lenders on a ratable basis (with Obligations with respect to contingent
or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that shall vest upon the liquidation
of such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests)
for the asset or assets so purchased (or for the equity interests or debt instruments of the acquisition vehicle or vehicles that are
issued in connection with such purchase). In connection with any such bid, (a) the Administrative Agent shall be authorized to form
one or more acquisition vehicles and to assign any successful credit bid to such acquisition vehicle or vehicles, (b) each of the
Credit Parties’ ratable interests in the Obligations which were credit bid shall be deemed without any further action under this
Agreement to be assigned to such vehicle or vehicles for the purpose of closing such sale, (c) the Administrative Agent shall be
authorized to adopt documents providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the Administrative
Agent with respect to such acquisition vehicle or vehicles, including any disposition of the assets or equity interests thereof, shall
be governed, directly or indirectly, by, and the governing documents shall provide for, control by the vote of the Majority Lenders or
their permitted assignees under the terms of this Agreement or the governing documents of the applicable acquisition vehicle or vehicles,
as the case may be, irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the
Majority Lenders contained in Section 12.05 of this Agreement), (d) the Administrative Agent on behalf of such acquisition
vehicle or vehicles shall be authorized to issue to each of the Credit Parties, ratably on account of the relevant Obligations which
were credit bid, interests, whether as equity, partnership interests, limited partnership interests or membership interests, in any such
acquisition vehicle and/or debt instruments issued by such acquisition vehicle, all without the need for any Credit Party or acquisition
vehicle to take any further action, and (e) to the extent that Obligations that are assigned to an acquisition vehicle are not used
to acquire Collateral for any reason (as a result of another bid being higher or better, because the amount of Obligations assigned to
the acquisition vehicle exceeds the amount of Obligations credit bid by the acquisition vehicle or otherwise), such Obligations shall
automatically be reassigned to the Credit Parties pro rata with their original interest in such Obligations and the equity interests
and/or debt instruments issued by any acquisition vehicle on account of such Obligations shall automatically be cancelled, without the
need for any Credit Party or any acquisition vehicle to take any further action. Notwithstanding that the ratable portion of the Obligations
of each Credit Party are deemed assigned to the acquisition vehicle or vehicles as set forth in clause (ii) above, each Credit Party
shall execute such documents and provide such information regarding the Credit Party (and/or any designee of the Credit Party which will
receive interests in or debt instruments issued by such acquisition vehicle) as the Administrative Agent may reasonably request in connection
with the formation of any acquisition vehicle, the formulation or submission of any credit bid or the consummation of the transactions
contemplated by such credit bid.

 

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11.14.            Certain
ERISA Matters.

 

(a)            Each
Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the
date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative
Agent, and each Lead Arranger, Joint Bookrunner, Co-Syndication Agent and Co-Documentation Agent and their respective Affiliates, and
not, for the avoidance of doubt, to or for the benefit of any Borrower or any other Obligor, that at least one of the following is and
will be true:

 

(i)              such
Lender is not using “plan assets” (within the meaning of the Plan Asset Regulations) of one or more Benefit Plans in connection
with the Loans, the Letters of Credit or the Commitments,

 

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

 

(iii)            (A) such
Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE
84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate
in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements
of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements
of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in,
administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or

 

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

 

(b)            In
addition, unless sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or such Lender has
provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such
Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants,
from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of,
the Administrative Agent, and each Lead Arranger, Joint Bookrunner, Co-Syndication Agent and Co-Documentation Agent and their respective
Affiliates, and not, for the avoidance of doubt, to or for the benefit of any Borrower or any other Obligor, that none of the Administrative
Agent, or any Lead Arranger, Joint Bookrunner, Co-Syndication Agent and Co-Documentation Agent or any of their respective Affiliates
is a fiduciary with respect to the Collateral or the assets of such Lender (including in connection with the reservation or exercise
of any rights by the Administrative Agent under this Agreement, any Basic Document or any documents related to hereto or thereto).

 

(c)            The
Administrative Agent, and each Lead Arranger, Joint Bookrunner, Co-Syndication Agent and Co-Documentation Agent and their respective
Affiliates hereby informs the Lenders that each such Person is not undertaking to provide investment advice or to give advice in a fiduciary
capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions
contemplated hereby in that such Person or an Affiliate thereof (i) may receive interest or other payments with respect to the Loans,
the Letters of Credit, the Commitments, this Agreement and any other Basic Documents (ii) may recognize a gain if it extended the
Loans, the Letters of Credit or the Commitments for an amount less than the amount being paid for an interest in the Loans, the Letters
of Credit or the Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated
hereby, the Basic Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees,
underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter
of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s
acceptance fees, breakage or other early termination fees or fees similar to the foregoing.

 

11.15.            CAM.
Each Credit Party hereby authorizes the Administrative Agent to enter into the CAM, and each Credit Party hereby acknowledges that the
CAM is binding upon them. Each Credit Party (a) agrees that it will be bound by, and will not take any action contrary to, the provisions
of CAM and (b) hereby authorizes and instructs the Administrative Agent to enter into the CAM and to subject the Liens on the applicable
Collateral to the provisions thereof.

 

Section 12.
Miscellaneous.

 

12.01.            Waiver.
No failure on the part of the Administrative Agent or any Lender to exercise and no delay in exercising, and no course of dealing with
respect to, any right, power or privilege under any Basic Document shall operate as a waiver thereof, nor shall any single or partial
exercise of any right, power or privilege thereunder preclude any other or further exercise thereof or the exercise of any other right,
power or privilege. The remedies provided in the Basic Documents are cumulative and not exclusive of any remedies provided by law.

 

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12.02.            Notices.
All notices and other communications provided for herein (including, without limitation, any modifications of, or waivers or consents
under, this Agreement) shall be given or made by telecopy or other writing and telecopied, mailed or delivered to the intended recipient
(a) in the case of each of the Borrowers or the Administrative Agent at the “Address for Notices” specified below
its name on the signature pages hereof; (b) in the case of any Lender, at its address (or telecopy number) set forth in its
Administrative Questionnaire; or, as to any party, at such other address as shall be designated by such party in a notice to the each
of the Borrowers and the Administrative Agent given in accordance with this Section 12.02. Except as otherwise provided in this
Agreement, all such communications shall be deemed to have been duly given when transmitted by telecopier (and receipt is electronically
confirmed), personally delivered or, in the case of a mailed notice, upon receipt, in each case given or addressed as aforesaid. In addition,
such notices and other communications may be delivered or furnished by electric communications pursuant to procedures approved by the
Administrative Agent.

 

12.03.            Expenses
Etc. The Company agrees to pay or reimburse, without duplication of any amounts otherwise already so paid or reimbursed by the Company
elsewhere under this Agreement, each of the Lenders, the Administrative Agent and the Arrangers for paying: (a) the reasonable fees
and expenses of Simpson Thacher & Bartlett LLP, special counsel to the Administrative Agent, in connection with (i) the
preparation, execution and delivery of this Agreement (including the Exhibits hereto) and the Security Documents and the making of the
Loans hereunder and (ii) any modification, supplement or waiver of any of the terms of this Agreement or any other Basic Document
(including, without limitation, the amendment and restatement evidenced hereby); (b) all reasonable costs and expenses of the Lenders,
the Administrative Agent and the Arrangers (including reasonable counsels’ fees) in connection with the enforcement of this Agreement
or any other Basic Document or any bankruptcy, insolvency or other proceedings); (c) all mortgage, intangible, transfer, stamp,
documentary or other similar taxes, assessments or charges levied by any governmental or revenue authority in respect of this Agreement
or any other Basic Document or any other document referred to herein or therein; and (d) all costs, expenses, taxes, assessments
and other charges incurred in connection with any filing, registration, recording or perfection of any security interest contemplated
by this Agreement, any Security Document or any document referred to herein or therein.

 

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12.04.            Indemnification;
Limitation of Liability.

 

(a)            Indemnity.
The Parent shall indemnify the Administrative Agent, the Canadian Administrative Agent and the Arrangers and the other agents identified
on the cover page of this Agreement, the Lenders, the Issuing Banks and each affiliate thereof and their respective directors, officers,
employees, advisors and agents (each, an “Indemnitee”) from, and hold each of them harmless against, any and all losses,
liabilities, claims or damages to which any of them may become subject, insofar as such losses, liabilities, claims or damages arise
out of, relate to or result from any (i) Loan by any Lender hereunder or any extension of credit in respect of any Letter of Credit
or (ii) breach by any Borrower of this Agreement or any other Basic Document or (iii) any Environmental Liabilities (whether
known or unknown) or (iv) any investigation, litigation or other proceeding (including any threatened investigation or proceeding)
as well as any amendment or waiver relating to the foregoing or to any Basic Document, and the Company shall reimburse the Administrative
Agent, the Canadian Administrative Agent and each Lender, and each affiliate and their respective directors, officers, employees, advisors
and agents, upon demand for any reasonable expenses (including legal fees (but limited, in the case of legal fees and expenses, to the
actual reasonable and documented out-of-pocket fees, disbursements and other charges of one counsel to all Indemnitees taken as a whole
and, if reasonably necessary, one local counsel in any relevant jurisdiction to all Indemnitees taken as a whole and, solely in the case
of an actual or perceived conflict of interest after the affected Person notifies the Parent of such conflict, (x) one additional
counsel to all similarly situated affected Indemnitees taken as a whole and (y) one additional local counsel in any relevant jurisdiction
to all similarly situated affected Indemnitees taken as a whole)) incurred in connection with any such investigation or proceeding; provided
that neither the Parent nor any Obligor shall be required to indemnify any Indemnitee for any losses, liabilities, claims or damages
to the extent they arise (x) from the willful misconduct or gross negligence of such Indemnitee or its Affiliates, as determined
by a final judgment of a court of competent jurisdiction, (y) from a material breach of any Basic Document by such Indemnitee or
its Affiliates, as determined by a final judgment of a court of competent jurisdiction or (z) from any proceeding that does not
involve an act or omission by the Parent or the Company or any of their Affiliates and that is brought by an Indemnitee against any other
Indemnitee, other than claims against any agent or arranger in its capacity or in fulfilling its role as agent or arranger or any similar
role in respect of the credit facilities provided hereunder. Notwithstanding anything to the contrary in this Agreement or any other
Basic Document, this Section 12.04 shall not apply with respect to Taxes other than Taxes that represent losses, liabilities, claims
or damages arising from a non-Tax claim.

 

(b)            Limitation
of Liability. To the extent permitted by applicable law (i) none of the Obligors shall assert, and each Obligor hereby waives,
any claim against the Administrative Agent, the Canadian Administrative Agent, any Lead Arranger, any Joint Bookrunner, any Co-Syndication
Agent, any Co-Documentation Agent, any Issuing Bank and any Lender, and any Related Party of any of the foregoing Persons (each such
Person being called a “Lender-Related Person”) for any Liabilities arising from the use by others of information or
other materials (including, without limitation, any personal data) obtained through telecommunications, electronic or other information
transmission systems (including the Internet), except to the extent arising from the bad faith, gross negligence or willful misconduct
of such Lender-Related Person or the material breach by such party of Section 12.07 and (ii) no party hereto shall assert,
and each such party hereby waives, any Liabilities against any other party hereto, on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this
Agreement, any other Basic Document, or any agreement or instrument contemplated hereby or thereby, the transactions contemplated by
the Basic Documents, any Loan or Letter of Credit or the use of the proceeds thereof; provided that, nothing in this ‎Section 12.04(b) shall
relieve any Obligor of any obligation it may have to indemnify an Indemnitee, as provided in ‎12.04(a), against any special, indirect,
consequential or punitive damages asserted against such Indemnitee by a third party.

 

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12.05.            Amendments.
Etc.

 

(a)            Subject
as provided in the last sentence of this Section 12.05(a) and in Section 6.02, no amendment or waiver of any provision
of this Agreement, nor any consent to any departure by any Borrower therefrom, shall in any event be effective unless the same shall
be agreed or consented to by the Majority Lenders and the Company, and each such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given; provided that, subject as provided in the last sentence of this Section 12.05(a),
no such change, waiver, discharge or termination shall, without the consent of each Lender directly affected thereby, (i) extend
the Maturity Date applicable to any tranche of Loans and/or Commitments (it being understood that any waiver of any prepayment of, or
the method of application of any prepayment to the amortization of, Loans shall not constitute any such extension), or extend the stated
maturity of any Letter of Credit beyond the Maturity Date applicable to the applicable Class of Revolving Loans, or extend the scheduled
date of payment of principal of any Loan, or reduce the rate or extend the time of payment of interest (other than as a result of waiving
the applicability of any post-default increase in interest rates) or fees (it being agreed that any amendment or modification of defined
terms used in the financial covenants in this Agreement shall not constitute a reduction in interest or fees for purposes of this clause
(i)), or reduce the principal amount thereof, or increase any Commitment of any Lender over the amount thereof then in effect (it being
understood that a waiver of any Default or Event of Default or of a mandatory reduction in the Commitments shall not constitute a change
in the terms of a Commitment of a Lender), (ii) amend, modify or waive any provision of this Section 12.05 or 12.06(a), (iii) amend,
modify or waive any provision of Section 12.16, (iv) amend or modify the definition of Alternate Currency, except as expressly
permitted pursuant to Section 1.05, (v) reduce the percentage specified in, or otherwise modify, the definition of Majority
Lenders or Majority Revolving Lenders, (vi) (A) except as expressly permitted herein (including pursuant to permitted dispositions
hereunder), release all or substantially all of the Collateral or (B) other than pursuant to any debtor-in-possession financing, subordinate
the Liens on all or substantially all of the Collateral securing the Obligations (or any Class thereof) to any other Lien securing
any Indebtedness or subordinate the Obligations (or any Class thereof) in right of payment to any other Indebtedness; provided
that for the purposes of this clause (vi)(B), only those Lenders that have not been provided a reasonable opportunity to participate
on a pro rata basis on the same terms in any new loans or other Indebtedness permitted to be issued or incurred as a result of such amendment,
waiver or modification, shall be deemed directly affected by such amendment, waiver or modification, (vii) change the order of any
mandatory prepayment provided for in Section 3.02(b) or (c) hereof without the consent of Term Lenders having more than
50% of the aggregate principal amount of the Term Loans, (viii) release all or substantially all of the Subsidiary Guarantors from
their obligations under the Subsidiary Guaranty (except as expressly provided in the Subsidiary Guaranty or Section 12.17) or (ix) amend,
modify or waive any provision of (A) Sections 5.02 or 5.07(a) or any other provision of any Basic Document that would alter
the pro-rata sharing of payments thereby or (B) Section 5.9 of the Parent Pledge Agreement, Section 5.9 of the Company
Pledge Agreement or Section 5.9 of the Subsidiary Pledge Agreement,; provided that a Defaulting Lender’s vote shall
not be required except that (A) such Defaulting Lender’s Commitment may not be increased or extended without its consent and
(B) the principal amount of, or interest or fees payable on, Loans or Letter of Credit Liabilities owed to a Defaulting Lender may
not be reduced or excused or the scheduled date of payment may not be postponed as to such Defaulting Lender without such Defaulting
Lender’s consent. Notwithstanding anything in this Section 12.05 to the contrary (1) no amendment, waiver or consent
shall be made (w) affecting the rights or duties of any Issuing Bank under this Agreement or any Letter of Credit Document, in each
case relating to Letters of Credit issued or to be issued by it, without the consent of such Issuing Bank, (x) with respect to Section 11
without the consent of the Administrative Agent, or (y) with respect to Section 2.10 hereto without the consent of the Administrative
Agent and the Issuing Bank, (2) any waiver, amendment or modification that by its terms only affects a single Class of Commitments
and/or Loans hereunder (and not any other Class of Commitments and/or Loans) shall require the Majority Lenders for such Class (calculated
as if the Loans and Commitments of such Class were the only Loans and Commitments outstanding hereunder) voting as a single Class or
all affected Lenders of such Class, as applicable, rather than the Majority Lenders of all Classes or all affected Lenders, as applicable
and (3) any waiver, amendment or modification to, or determination as to the satisfaction of the conditions set forth in, Section 7.03
with respect to the making of any Revolving Borrowing or issuance of any Letter of Credit shall only require the consent of the Majority
Revolving Lenders.

 

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Furthermore, notwithstanding
the foregoing, the Administrative Agent, with the consent of the Company, may amend, modify or supplement any Basic Document without
the consent of any Lender or the Majority Lenders (x) in order to correct, amend or cure any ambiguity, inconsistency or defect
or correct any typographical error or other manifest error in any Basic Document or (y) to implement the provisions of Sections
2.01(d), Section 2.12 and Section 2.13.

 

(b)            In
connection with any proposed amendment, modification, waiver or termination (a “Proposed Change”) requiring the consent
of all Lenders or all affected Lenders (or all Lenders or all affected Lenders of any Class, as applicable), if the consent of the Majority
Lenders (or the Majority Lenders of any Class, as applicable) to such Proposed Change is obtained, but the consent to such Proposed Change
of other Lenders of such Class whose consent is required is not obtained (any such Lender whose consent is not obtained as described
in paragraph (a) of this Section 12.05 being referred to as a “Non-Consenting Lender”), then, the Company
may, at its sole expense and effort, upon notice to such Non-Consenting Lender and the Administrative Agent, require such Non-Consenting
Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 12.06),
all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may
be another Lender, if a Lender accepts such assignment); provided that (i) to the extent such consent would be required for
such assignment pursuant to Section 12.06, the Company shall have received the prior written consent of the Administrative Agent
(and, if a Revolving Commitment is being assigned, each Issuing Bank), which consent shall not unreasonably be withheld, (ii) such
Non-Consenting Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in
payments made by an Issuing Bank pursuant to Letters of Credit, accrued interest thereon, accrued fees and all other amounts payable
to it hereunder from the assignee (in the case of such principal and accrued interest and fees) or the applicable Borrower (in the case
of all other amounts) (upon receipt of such amounts such Non-Consenting Lender shall be deemed to have assigned its interest pursuant
to this Section), (iii) the Company or such assignee shall have paid to the Administrative Agent the processing and recordation
fee specified in Section 12.06(b), (iv) such assignment does not conflict with applicable law and (v) the assignee shall
have given its consent to such Proposed Change and, as a result of such assignment and delegation and any contemporaneous assignments
and delegations and consents, such Proposed Change can be effected.

 

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12.06.            Successors
and Assigns.

 

(a)            This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns except that
the Borrowers may not assign their rights or obligations hereunder (other than as expressly permitted pursuant to Section 9.12)
without the prior written consent of all of the Lenders.

 

(b)            Each
Lender may assign all or a portion of its rights and obligations under this Agreement (i) with respect to the Term Loans (x) to
any other Lender, to any affiliate of a Lender or to any entity (an “Approved Fund”) (whether a corporation, partnership,
trust or otherwise) that is engaged in making, purchasing, holding or otherwise investing in bank loans and similar extensions of credit
in the ordinary course of its business and is administered or managed by a Lender, an affiliate of such Lender or an entity or an affiliate
of an entity that administers or manages a Lender, or (y) with the consent of the Administrative Agent and of the Company (provided
that the consent of the Company shall not be required if an Event of Default under Section 10.01(1), (6) or (7) has
occurred or is continuing, and provided further that the Company shall be deemed to have consented to any assignment to the extent
that it has not indicated otherwise to the Administrative Agent within five Business Days of written notice thereof), to any bank or
financial institution, and (ii) with respect to the Revolving Commitments, (x) with the consent of each Issuing Bank, to any
other Lender, to any affiliate of a Lender or to an Approved Fund, or (y) with the consent of the Administrative Agent, of each
Issuing Bank and of the Company (provided, that the consent of the Company to any assignment shall not be required if an Event
of Default under Section 10.01(1), (6) or (7) shall have occurred and be continuing, and provided further that
the Company shall be deemed to have consented to any assignment to the extent that it has not indicated otherwise to the Administrative
Agent within five Business Days of written notice thereof), to any bank or financial institution, which consents shall not be unreasonably
withheld or delayed, provided that any such partial assignment shall not, unless the Company and the Administrative Agent otherwise
agree (provided that the consent of the Company shall not be required if an Event of Default under Section 10.01(1), (6) or
(7) has occurred or is continuing), be less than $5,000,000 (or, in the case of Term Loans, $1,000,000), or if the remainder of
the Lender’s Commitment or Term Loans is less than $5,000,000 or $1,000,000, as applicable, such lesser amount. Upon execution
and delivery to the Administrative Agent of an Assignment and Assumption substantially in the form of Exhibit N hereto by the assignor
and the assignee together with payment by such assignee to the Administrative Agent of a processing fee of $3,500, such assignee shall
have, to the extent of such assignment (unless otherwise provided therein), the same rights and benefits as it would have if it were
a Lender hereunder and the assignor shall be, to the extent of such assignment (unless otherwise provided therein), released from its
obligations under this Agreement.

 

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(c)            Each
Lender may (without the consent of any other party to this Agreement) sell participations in all or any part of any Loan or Loans or
any Commitment or Commitments made by it to another bank or other entity, in which event the participant shall not have any rights under
this Agreement (except as provided in the next succeeding sentence hereof) (the participant’s rights against such Lender in respect
of such participation to be those set forth in the agreement executed by such Lender in favor of the participant relating thereto, which
agreement shall not give the participant the right to consent to any modification, amendment or waiver other than one described in clause
(i), (ii), (vi) or (viii) of Section 12.05 hereof); provided that (A) such Lender’s obligations under this
Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance
of such obligations, and (C) the Borrowers, the Administrative Agent, the Issuing Banks and Lenders shall continue to deal solely
and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Each Borrower agrees
that each participant shall be entitled to the benefits of Sections 5.08, 6.01, 6.05, 6.06 and 6.08 of this Agreement (subject to the
requirements and limitations herein, including the requirements under Sections 5.08(f) and (g) of this Agreement (it being
understood that the documentation required under Section 5.08(f) shall be delivered to the participating Lender and the information
and documentation required under Section 5.08(g) will be delivered to the applicable Borrower and the Administrative Agent))
to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section;
provided that such participant (A) agrees to be subject to the provisions of Sections 6.07 as if it were an assignee under paragraph
(b) of this Section; and (B) shall not be entitled to receive any greater payment under Sections 5.08, 6.01, 6.06 and 6.08
of this Agreement with respect to any participation than its participating Lender would have been entitled to receive, except to the
extent such entitlement to receive a greater payment results from a Regulatory Change that occurs after the participant acquired the
applicable participation. Each Lender that sells a participation agrees, at the Company’s request and expense, to use reasonable
efforts to cooperate with the Company to effectuate the provisions of Section 6.07(b) with respect to any participant. To the
extent permitted by law, each participant also shall be entitled to the benefits of Section 12.19 as though it were a Lender; provided
that such Participant agrees to be subject to Section 5.07 as though it were a Lender. Each Lender may furnish any information concerning
the Parent and its Subsidiaries in the possession of such Lender from time to time to assignees and participants (including prospective
assignees and participants) which have agreed in writing to be bound by the provisions of Section 12.07 hereof or other provisions
at least as restrictive as Section 12.07. The Administrative Agent and the Company may, for all purposes of this Agreement, treat
any Lender as the holder of any Note drawn to its order (and owner of the Loans evidenced thereby) until written notice of assignment,
participation or other transfer shall have been received by them from such Lender. No assignment may be made or participation sold to
(x) the Parent or any of its Subsidiaries except as allowed by Section 2.11 or (y) a natural Person (or a holding company,
investment vehicle or trust for, or owned or operated for the primary benefit of, a natural Person).

 

(d)            In
addition to the assignments and participations permitted in the foregoing provisions of this Section 12.06, any Lender may (without
notice to any of the Borrowers, the Administrative Agent, any Issuing Bank or any other Lender and without payment of any fee) assign
and pledge all or any portion of its Loans and its Notes (i) to secure obligations of such Lender, including to any Federal Reserve
Bank or other central bank as collateral security pursuant to Regulation A of the Board of Governors of the Federal Reserve System and
any Operating Circular issued by such Federal Reserve Bank or any other central bank, and (ii) with respect to any Lender which
is a fund, to its trustee or creditors in support of its obligations to its trustee or creditors, and such Loans and Notes shall be fully
transferable as provided therein. No such assignment pursuant to the preceding sentence shall release the assigning Lender from its obligations
hereunder.

 

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(e)            The
Administrative Agent, acting for this purpose as a non-fiduciary agent of the Company, shall maintain at one of its United States offices
a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders,
and the Commitments of, and principal amount (and stated interest) of the Loans and Letter of Credit Liabilities owing to, each Lender
pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent
manifest error, and the Company, the Administrative Agent, the Issuing Bank and the Lenders shall treat each Person whose name is recorded
in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the
contrary. The Register shall be available for inspection by the Borrowers, at any reasonable time and from time to time upon reasonable
prior notice. In addition, each Lender that sells a participation, acting solely for this purpose as a non-fiduciary agent of the applicable
Borrower, shall maintain a register on which it enters the name and address of each participant and the principal amounts (and stated
interest) of each participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”);
provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including
the identity of any participant or any information relating to a participant’s interest in any Commitments, Loans, Letters of Credit
or its other obligations under this Agreement) except to the extent that such disclosure is necessary to establish that such Commitment,
Loan, Letter of Credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.
The entries in the Participant Register shall be conclusive absent manifest error, and such Lender, the applicable Borrower and the Administrative
Agent shall treat each Person whose name is recorded in the Participant Register pursuant to the terms hereof as the owner of such participation
for all purposes of this Agreement, notwithstanding notice to the contrary.

 

12.07.            Confidentiality.
Each Lender agrees to exercise all reasonable efforts to keep any information delivered or made available by or on behalf of the Parent
to it which has not been publicly disclosed confidential from anyone other than persons employed or retained by such Lender who are or
are expected to become engaged in evaluating, approving, structuring or administering the Loans; provided that nothing herein
shall prevent any Lender from disclosing such information (i) to any other Lender, (ii) to the officers, directors, employees,
agents, attorneys and accountants of such Lender or its affiliates who have a need to know such information in accordance with customary
banking practices and who receive such information having been made aware of the restrictions set forth in this Section, (iii) upon
the order of any court or administrative agency (in which case such Person shall (a) to the extent practicable and permitted by
law, rule or regulation, inform the Parent promptly in advance thereof and (b) to use commercially reasonable efforts to ensure
that any such information so disclosed is accorded confidential treatment), (iv) upon the request or demand of any regulatory agency
or authority having jurisdiction over such Lender (in which case such Person shall (a) to the extent practicable and permitted by
law, rule or regulation and except with respect to any audit or examination conducted by bank accountants or any regulatory authority
exercising examination or regulatory authority, inform the Parent promptly in advance thereof and (b) use commercially reasonable
efforts to ensure that any such information so disclosed is accorded confidential treatment), (v) to the extent reasonably required
in connection with any litigation or proceeding to which the Administrative Agent, any Lender, any Borrower, any Subsidiary Guarantor
or their respective affiliates may be a party (in which case such Person shall (a) to the extent permitted by law, inform the Parent
promptly in advance thereof and (b) use commercially reasonable efforts to ensure that any such information so disclosed is accorded
confidential treatment), (vi) to the extent reasonably required in connection with the exercise of any remedy hereunder, (vii) to
such Lender’s legal counsel and independent auditors, (viii) to any actual or proposed participant or assignee of all or part
of its rights hereunder which has agreed in writing to be bound by the provisions of this Section 12.07 or other provisions at least
as restrictive as Section 12.07, (ix) to any direct or indirect contractual or proposed counterparty to any derivatives agreement
(or any professional advisor to such counterparty) which has agreed in writing to be bound by the provisions of this Section 12.07
or other provisions at least as restrictive as Section 12.07, (x) to the extent such information becomes publicly available
other than by reason of disclosure by the Administrative Agent, any Lender or their respective affiliates in breach of this Agreement
and (xi) to any credit insurance broker or provider which has agreed in writing to be bound by the provisions of this Section 12.07
or other provisions at least as restrictive as Section 12.07. Any Person required to maintain the confidentiality of information
as provided in this Section 12.07 shall be considered to have complied with its obligation to do so if such Person has exercised
the same degree of care to maintain the confidentiality of such information as such Person would accord to its own confidential information.
For the avoidance of doubt, information relating to this Agreement routinely provided by arrangers to data service providers, including
league table providers, that serve the lending interest shall be deemed not to be confidential.

 

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12.08.            Survival.
The obligations of the Borrowers under Sections 6.01, 6.05, 6.06, 6.08, 12.03 and 12.04 hereof and the obligations of the Lenders under
Section 11.03 shall survive the repayment of the Loans and the termination of the Commitments.

 

12.09.            Captions.
Captions and section headings appearing herein are included solely for convenience of reference and are not intended to affect the interpretation
of any provision of this Agreement.

 

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12.10.            Counterparts;
Integration. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the
same instrument, and any of the parties hereto may execute this Agreement by signing any such counterpart. This Agreement, together with
the schedules and exhibits hereto, the Basic Documents and any separate letter agreements with respect to fees payable to the Administrative
Agent constitute the entire agreement and understanding among the parties hereto and supersedes any and all prior agreements and understandings,
oral and written, relating to the subject matter hereof. Delivery of an executed counterpart of a signature page of (x) this
Agreement, (y) any other Basic Document and/or (z) any document, amendment, approval, consent, information, notice (including,
for the avoidance of doubt, any notice delivered pursuant to ‎Section 12.02), certificate, request, statement, disclosure or
authorization related to this Agreement, any other Basic Document and/or the transactions contemplated hereby and/or thereby (each an
 “Ancillary Document”) that is an Electronic Signature transmitted by telecopy, emailed pdf. or any other electronic
means that reproduces an image of an actual executed signature page shall be effective as delivery of a manually executed counterpart
of this Agreement, such other Basic Document or such Ancillary Document, as applicable. The words “execution,” “signed,”
 “signature,” “delivery,” and words of like import in or relating to this Agreement, any other Basic Document
and/or any Ancillary Document shall be deemed to include Electronic Signatures, deliveries or the keeping of records in any electronic
form (including deliveries by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature
page), each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery
thereof or the use of a paper-based recordkeeping system, as the case may be; provided that nothing herein shall require the Administrative
Agent to accept Electronic Signatures in any form or format without its prior written consent and pursuant to procedures approved by
it; provided, further, without limiting the foregoing, to the extent the Administrative Agent has agreed to accept any Electronic Signature,
the Administrative Agent, each of the Lenders and each of the Issuing Banks shall be entitled to rely on such Electronic Signature purportedly
given by or on behalf of any of the Obligors without further verification thereof and without any obligation to review the appearance
or form of any such Electronic Signature. Without limiting the generality of the foregoing, each Obligor hereby (A) agrees that,
for all purposes, including without limitation, in connection with any workout, restructuring, enforcement of remedies, bankruptcy proceedings
or litigation among the Administrative Agent, the Lenders and each Obligor, Electronic Signatures transmitted by telecopy, emailed pdf.
or any other electronic means that reproduces an image of an actual executed signature page and/or any electronic images of this
Agreement, any other Basic Document and/or any Ancillary Document shall have the same legal effect, validity and enforceability as any
paper original, (B) the Administrative Agent, each of the Lenders and each of the Issuing Banks may, at its option, create one or
more copies of this Agreement, any other Basic Document and/or any Ancillary Document in the form of an imaged electronic record in any
format, which shall be deemed created in the ordinary course of such Person’s business, and destroy the original paper document
(and all such electronic records shall be considered an original for all purposes and shall have the same legal effect, validity and
enforceability as a paper record), (C) waives any argument, defense or right to contest the legal effect, validity or enforceability
of this Agreement, any other Basic Document and/or any Ancillary Document based solely on the lack of paper original copies of this Agreement,
such other Basic Document and/or such Ancillary Document, respectively, including with respect to any signature pages thereto and
(D) waives any claim against any Lender-Related Person for any liabilities arising solely from the Administrative Agent’s
and/or any Lender’s or Issuing Bank’s reliance on or use of Electronic Signatures and/or transmissions by telecopy, emailed
pdf. or any other electronic means that reproduces an image of an actual executed signature page, including any liabilities arising as
a result of the failure of any Obligor to use any available security measures in connection with the execution, delivery or transmission
of any Electronic Signature.

 

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12.11.            GOVERNING
LAW; SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL.

 

(a)            THIS
AGREEMENT AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK. EACH OF THE OBLIGORS
HEREBY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK (OR IF SUCH COURT
LACKS SUBJECT MATTER JURISDICTION, THE SUPREME COURT OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY IN THE BOROUGH OF MANHATTAN),
AND ANY APPELLATE COURT FROM ANY THEREOF, FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER
BASIC DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH OF THE OBLIGORS IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT
AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. EACH OF THE OBLIGORS HEREBY
AGREES THAT THE ADMINISTRATIVE AGENT AND THE LENDERS RETAIN THE RIGHT TO BRING PROCEEDINGS AGAINST ANY OBLIGOR IN THE COURTS OF ANY OTHER
JURISDICTION IN CONNECTION WITH THE EXERCISE OF ANY RIGHTS UNDER ANY BASIC DOCUMENT OR THE ENFORCEMENT OF ANY JUDGMENT. EACH OF THE BORROWERS,
THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING
OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER BASIC DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

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(b)            To
the extent any Obligor has or hereafter may acquire any immunity from any legal action, suit or proceeding, from jurisdiction of any
court or from set-off or any legal process (whether service or notice, attachment prior to judgment, attachment in aid of execution of
judgment, execution of judgment or otherwise) with respect to itself or any of its property, to the maximum extent permitted by law,
such Obligor hereby irrevocably waives and agrees not to plead or claim such immunity in respect of its obligations under this Agreement
and the other Basic Documents.

 

12.12.            Borrowers’
Agent. Each of the Borrowers, by execution and delivery of this Agreement, irrevocably appoints the Company as its agent and attorney-in-fact
for all purposes of this Agreement, irrevocably designates, appoints and empowers the Company, as its designee and agent, for service
of any and all legal process, summons, notices and documents which may be served in any such action or proceeding and hereby ratifies
and confirms, and agrees to be bound by, all actions taken by the Company on its behalf pursuant to the foregoing authorization. The
Company irrevocably accepts such appointment. Without limiting the generality of the foregoing, all notices from and to any of the Borrowers
hereunder shall be given by or to the Company on its behalf. Each Lender, the Parent and the Administrative Agent and the Canadian Administrative
Agent may conclusively rely on the authority of the Company to act on behalf of each of the Borrowers.

 

12.13.            [Reserved].

 

12.14.            Acknowledgements.
Each of the Borrowers hereby acknowledges that (i) neither the Administrative Agent nor any Lender has any fiduciary relationship
with or duty to such Obligor arising out of or in connection with this Agreement or any of the other Basic Documents, and the relationship
between Administrative Agent and Lenders, on one hand, and the Obligors, on the other hand, in connection herewith or therewith is solely
that of debtor and creditor and (ii) the Administrative Agent, each Lender and their respective Affiliates may have economic interests
that conflict with those of the Obligors and their stockholders and/or Affiliates.

 

12.15.            USA
PATRIOT Act.

 

(1)            Each
Lender that is subject to the Act (as hereinafter defined) hereby notifies the Company that pursuant to the requirements of the USA Patriot
Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”) and the Beneficial Ownership
Regulation, it is required to obtain, verify and record information that identifies each Borrower, which information includes the name
and address of such Borrower and other information that will allow such Lender to identify such Borrower in accordance with the Act and
the Beneficial Ownership Regulation.

 

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(2)            Canadian
Anti-Money Laundering Legislation.

 

Each Obligor acknowledges
that, pursuant to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada), the Criminal Code (Canada) and the United
Nations Act (Canada), including the Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism (Canada)
and the United Nations Al-Qaida and Taliban Regulations (Canada) promulgated under the United Nations Act (Canada), and other applicable
anti-money laundering, anti-terrorist financing, government sanction and “know your client” laws, policies, regulations,
or rules (collectively, including any rules, regulations, directives, guidelines or orders thereunder, “AML Legislation”)
the Lenders and the Administrative Agent may be required to obtain, verify and record information regarding each Obligor, its directors,
authorized signing officers, direct or indirect shareholders or other Persons in control of each Obligor, and the transactions contemplated
hereby. Each Obligor shall promptly provide all such information, including supporting documentation and other evidence, as may be reasonably
requested by any Lender or the Administrative Agent, or any prospective assign or participant of a Lender or the Administrative Agent,
in order to comply with any applicable AML Legislation, whether now or hereafter in existence. If the Administrative Agent has ascertained
the identity of any Obligor or any authorized signatories of any Obligor for the purposes of applicable AML Legislation, then the Administrative
Agent:

 

(a)            shall
be deemed to have done so as an agent for each Lender and this Agreement shall constitute a “written agreement” in such regard
between each Lender and the Administrative Agent within the meaning of the applicable AML Legislation; and

 

(b)            shall
provide to the Lenders, copies of all information obtained in such regard without any representation or warranty as to its accuracy or
completeness.

 

Notwithstanding the preceding
sentence and except as may otherwise be agreed in writing, each Lender agrees that the Administrative Agent has no obligation to ascertain
the identity of the Obligors or any authorized signatories of the Obligors on behalf of any Lender, or to confirm the completeness or
accuracy of any information it obtains from any Obligor or any such authorized signatory in doing so.

 

12.16.            Additional
Borrowers. From time to time on or after the A&R Closing Date, the Parent may designate any Subsidiary Guarantor as an additional
Borrower (each such person, an “Additional Borrower”) under any Revolving Facility; provided that such Person
is incorporated in the United States (or any state or territory thereof) or another jurisdiction approved by all Lenders under such Revolving
Facility. Such Subsidiary Guarantor shall for all purposes of this Agreement be a Borrower under such Revolving Facility no earlier than
the later of (a) ten (10) Business Days (or such shorter period as the Administrative Agent may in its discretion agree) after
delivery to the Administrative Agent of a Borrowing Subsidiary Agreement substantially in the form of Exhibit O-1 executed by such
Subsidiary Guarantor and the Company, and (b) receipt by the Administrative Agent or a Revolving Lender (through the Administrative
Agent) of such documentation and other information reasonably requested by the Administrative Agent for purposes of complying with all
necessary “know your customer” or other similar checks under all applicable laws and regulations and internal processes.
A Subsidiary shall cease to be a Borrower hereunder at such time as no Loans, fees or any other amounts due in connection therewith pursuant
to the terms hereof shall be outstanding by such Subsidiary, no Letters of Credit issued for the account of such Subsidiary shall be
outstanding and such Subsidiary and the Company shall have executed and delivered to the Administrative Agent a Borrowing Subsidiary
Termination substantially in the form of Exhibit O-2.

 

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12.17.            Releases
of Guaranties and Liens.

 

(a)            Notwithstanding
anything herein to the contrary, (x) any Subsidiary Guarantor shall automatically be released from its obligations hereunder and
under the other Basic Documents (and its guarantees of the obligations hereunder and any Liens on its property constituting Collateral
shall be automatically released) (i) upon the consummation of any permitted transaction or series of related transactions or the
occurrence of any other permitted event or circumstance if as a result thereof such Subsidiary Guarantor ceases to be a Subsidiary (included
by merger or dissolution) or becomes an Excluded Subsidiary, (ii) upon the occurrence of the circumstances in clause (c) below
and (iii) if approved, authorized or ratified in accordance with Section 12.05 and (y) any Subsidiary Guarantor that qualifies
as an “Excluded Subsidiary” shall be released from its obligations hereunder and under the other Basic Documents (and its
guarantees of the obligations hereunder and any Liens on its property constituting Collateral shall be automatically released) by the
Administrative Agent promptly following the request therefor by the Parent.

 

(b)            Notwithstanding
anything herein to the contrary, any Lien on any asset or property granted to or held by the Administrative Agent under any Basic Document
shall be automatically released without the need for further action by any Person (i) upon the occurrence of the circumstances in
clause (c) below, (ii) upon the sale or other transfer of such asset or property as part of or in connection with any disposition
or Investment permitted under the Basic Documents to a Person that is not an Obligor, (iii) if such asset or property does not constitute
(or ceases to constitute) Collateral, (iv) if the property subject to such Lien is owned by a Subsidiary Guarantor, upon the release
of such Subsidiary Guarantor from its guarantee of the obligations hereunder in accordance with the Basic Documents, (v) as provided
for in any other Basic Document or (vii) if approved, authorized or ratified in accordance with Section 12.05. Without limiting
the foregoing, in the event that Accounts Receivable Assets become subject to an Accounts Receivable Financing, whether by transfer or
conveyance or by placing a security interest, trust or other encumbrance required by an Accounts Receivable Financing with respect to
such Accounts Receivable Assets, the Liens under the Basic Documents on such Accounts Receivable Assets (including proceeds thereof and
any deposit accounts holding exclusively such proceeds), if any, shall be automatically released (or such Accounts Receivables Assets,
proceeds or deposit accounts re-assigned).

 

(c)            At
such time as the Loans, the Reimbursement Obligations and the other obligations under the Basic Documents (other than obligations under
or in respect of Hedging Agreements) shall have been paid in full, the Revolving Commitments have been terminated and no Letters of Credit
shall be outstanding, the Collateral shall be released from the Liens created by the Security Documents, and the Security Documents and
all obligations (other than those expressly stated to survive such termination) of the Administrative Agent and each Obligor under the
Security Documents shall terminate, all without delivery of any instrument or performance of any act by any Person.

 

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(d)            The
Administrative Agent shall, and is hereby irrevocably authorized by each Lender (without requirement of notice to or consent of any Lender
except as expressly required by Section 12.05) to, promptly take any action and execute any documents requested by the Parent having
the effect of releasing (or subordinating the liens on) or evidencing the release (or subordination of the liens on) any Collateral or
guarantee obligations to the extent such release (or subordination) is permitted pursuant to any Basic Document (including pursuant to
clauses (a) and (b) above).

 

12.18.            Amendment
and Restatement.

 

(a)            The
Obligors, the Administrative Agent, the Canadian Administrative Agent, the Issuing Banks and the Lenders hereby agree that upon the A&R
Closing Date, the terms and provisions of the Existing Credit Agreement shall be and hereby are amended and restated in their entirety
by the terms and conditions of this Agreement and the terms and provisions of the Existing Credit Agreement, except as otherwise provided
in this Agreement (including, without limitation, paragraph (b) of this Section 12.18), shall be superseded by this
Agreement.

 

(b)            Notwithstanding
the amendment and restatement of the Existing Credit Agreement by this Agreement, the Obligors shall be liable in accordance with the
terms and subject to the limitations set forth in the Existing Credit Agreement to each indemnitee under Section 12.04 of the Existing
Credit Agreement with respect to agreements under the Existing Credit Agreement to indemnify and hold harmless such indemnitee from and
against all losses, liabilities, claims, and damages to which such indemnitee may be subject arising in connection with the Existing
Credit Agreement. This Agreement is given as a substitution of, and not as a payment of, the obligations of the Obligors under the Existing
Credit Agreement and is not intended to constitute a novation of the Existing Credit Agreement.

 

(c)            By
execution of this Agreement all parties hereto agree that on and after the A&R Closing Date (i) each relevant Basic Document
is hereby amended such that all references to the Existing Credit Agreement and the Loans and Commitments thereunder shall be deemed
to refer to this Agreement and the continuation of the Loans and Commitments hereunder, (ii) all obligations under the Parent Guaranty,
the Company Guaranty, the Subsidiary Guaranty and the Security Documents are reaffirmed and remain in full force and effect on a continuous
basis after giving effect to this Agreement, subject to any applicable limitations and conditions set forth therein, and (iii) all
security interests and liens granted under the Security Documents and the other Basic Documents are reaffirmed and shall continue and
secure the obligations hereunder and thereunder, and the obligations of the Obligors under the Parent Guaranty, the Company Guaranty,
the Subsidiary Guaranty and the other Basic Documents after giving effect to this Agreement and the Parent Guaranty, the Company Guaranty
and the Subsidiary Guaranty are reaffirmed subject to any applicable limitations and conditions set forth therein. After giving effect
to this Agreement and the transactions contemplated hereby, neither the modification of the Existing Credit Agreement effected pursuant
to this amendment and restatement nor the execution, delivery, performance or effectiveness of this Agreement (i) impairs the validity,
effectiveness or priority of the Liens granted pursuant to the Basic Documents, and such Liens continue unimpaired with the same priority
to secure repayment of all obligations purported to be secured thereby, whether heretofore or hereafter incurred, or (ii) requires
that any new filings be made or other actions taken to perfect or to maintain the perfection of such Lien.

 

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12.19.            Right
to Setoff. If an Event of Default shall have occurred and be continuing, each Lender, each Issuing Bank and each of their respective
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and
all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such
Lender, Issuing Bank or any Affiliate thereof to or for the credit or the account of any Borrower or other Obligor against any of
and all the obligations of such Borrower or Obligor now or hereafter existing under this Agreement or other Basic Document held by such
Lender, Issuing Bank or Affiliate, irrespective of whether or not such Lender, Issuing Bank or Affiliate shall have made any
demand under this Agreement and although such obligations may be unmatured. The rights of each Lender and Issuing Bank and Affiliate
under this Section 12.19 are in addition to other rights and remedies (including other rights of setoff) which such Lender, Issuing
Bank and Affiliate may have.

 

12.20.            [Reserved].

 

12.21.            Severability.
Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

12.22.            Payments
Set Aside. To the extent that any payment by or on behalf of the Borrowers is made to the Administrative Agent, the Canadian Administrative
Agent, any Issuing Bank or any Lender, or the Administrative Agent, Canadian Administrative Agent, any Issuing Bank or any Lender exercises
its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be
fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the
Canadian Administrative Agent, such Issuing Bank or such Lender in its discretion) to be repaid to a trustee, receiver or any other party,
in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation
or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not
been made or such setoff had not occurred, and (b) each Lender and each Issuing Bank severally agrees to pay to the Administrative
Agent or the Canadian Administrative Agent, as applicable, upon demand its applicable share (without duplication) of any amount so recovered
from or repaid by the Administrative Agent or the Canadian Administrative Agent, plus interest thereon from the date of such demand to
the date such payment is made at a rate per annum equal to the Federal Funds Effective Rate from time to time in effect. The obligations
of the Lenders and the Issuing Banks under clause (b) of the preceding sentence shall survive the payment in full of the Obligations
and the termination of this Agreement.

 

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

  

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

 

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

 

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

 

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

 

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

 

12.24.            Acknowledgement
Regarding Any Supported QFCs.

 

To the extent that the Basic
Documents provide support, through a guarantee or otherwise, for Hedging 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 Basic 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 Basic 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 Basic 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.

 

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For purposes of this Section 12.24:

 

“BHC Act Affiliate”
of a party shall mean an “affiliate’ (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k))
of such party.

 

“Covered Entity”
shall mean any of the following:

 

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

 

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

 

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

 

“Default Right”
shall have 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.

 

“QFC”
shall have 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).

 

12.25.            Existing
Term B Loans

 

Notwithstanding anything
to the contrary in this Agreement (including any provision that purports to override or supersede any other provision in this Agreement),
interest in respect of the Existing Term B Loans will continue to be calculated and accrue pursuant to the terms of the Existing Credit
Agreement, and all terms in respect of interest, interest periods, notices, borrowings and related terms and provisions applicable to
the Existing Term B Loans set forth in the Existing Credit Agreement shall continue to apply to the Existing Term B Loans, mutatis
mutandis, unless and until this Agreement shall have been amended in accordance with the terms of this Agreement or the interest
rate applicable in respect of the Existing Term B Loans shall have been amended in accordance with Section 6.02(c)(iii) of
the Existing Credit Agreement. The Administrative Agent and the Company may enter into an amendment or attach an annex to or otherwise
modify this Agreement in order to effect the terms of the immediately preceding sentence without the consent of any Lender. It is understood
and agreed that, in the event of any conflict or inconsistency between the provisions of this Section 12.25 and any other provision
of this Agreement (including any other provision that purports to override or supersede any other provision of this Agreement), the provisions
of this Section 12.25 shall govern and control.

 

[Signature Pages Removed]

 

    151

     

    

 

Schedules to Credit Agreement

 

[Omitted]

 

    

     

    

 

Exhibits to Credit Agreement

 

[Omitted]

 

    

     

    

 

Annex II

 

[Omitted]

 

    

     

    

 

Annex III

 

[Omitted]EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 

AMENDMENT NO. 1 TO TERM LOAN CREDIT AGREEMENT 

This AMENDMENT NO. 1 TO TERM LOAN CREDIT AGREEMENT (this “Amendment”), dated as of October 19, 2021, is among TEAM, INC.,
a Delaware corporation (the “Borrower”), and each of the Lenders party hereto. 
 W I T N E S S E T H: 

WHEREAS, the Borrower, Atlantic Park Strategic Capital Fund, L.P., as agent for the Lenders and the Secured Parties (the
“Agent”), and the Lenders have entered into that certain Term Loan Credit Agreement, dated as of December 18, 2020 (from time to time further amended, supplemented, restated, amended and restated or otherwise modified the
“Credit Agreement”; capitalized terms used in this Amendment not otherwise defined herein shall have the respective meanings given thereto in the Credit Agreement), pursuant to which the Lenders have extended credit to the Borrower
in the form of the Initial Term Loans; and 
 WHEREAS, the Borrower has requested that the Lenders agree to amend the Credit
Agreement to extend certain interest payment dates with respect to the Initial Term Loans to November 5, 2021; and 
 WHEREAS,
the Borrower and the Lenders are willing to effect such amendment on the terms and conditions contained in this Amendment. 
 NOW, THEREFORE,
in consideration of the premises and further valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

1. Amendments to the Credit Agreement. 
 The Credit
Agreement is, effective as of the Amendment No. 1 Effective Date, hereby amended to delete the stricken text (indicated textually in the same manner as the following sample: stricken text) and to add the underlined text (indicated textually in the same manner as the following example:
double underlined text), in each case, as set forth in the
Credit Agreement attached as Annex A hereto 
 2. Effectiveness; Conditions Precedent. 

The amendments contained herein shall only be effective upon the satisfaction or waiver of each of the following conditions precedent (the date
of satisfaction or waiver, the “Amendment No. 1 Effective Date”): 
 (a) the Agent shall have received
counterparts of this Amendment executed by the Borrower and each Lender; and 
 (b) each of the representations and warranties made by the
Borrower in Section 3 hereof shall be true and correct. 

 The Administrative Agent shall, upon the satisfaction or waiver of the conditions contained
in this Section 2, promptly provide written notice to the Borrower and the Lenders of the effectiveness of this Amendment. 
  

	3.	 Representations and Warranties. 

In order to induce the Lenders to enter into this Amendment, the Borrower represents and warrants to the Lenders, for itself and for each other
Loan Party, as follows: 
  

	 	(a)	 that both immediately prior to and immediately after giving effect to this Amendment, no Default or Event of
Default exists; 

  

	 	(b)	 the execution, delivery and performance by the Borrower of this Amendment and the consummation of the
transactions contemplated hereby have been duly authorized by all necessary corporate action, do not contravene the Borrower’s Governing Documents and do not and will not contravene any Material Contract; 

 

	 	(c)	 this Amendment has been duly executed and delivered on behalf of the Borrower; and 

 

	 	(d)	 this Amendment constitutes a legal, valid and binding obligation of the Borrower enforceable against the
Borrower in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, Debtor Relief Laws or similar laws affecting the enforcement of creditors’ rights generally and by general
principles of equity. 

  

	4.	 Entire Agreement. 

This Amendment, the Credit Agreement (including giving effect to the amendments set forth in Section 1 above), and the other Loan
Documents (collectively, the “Relevant Documents”) constitute the entire agreement among the parties, supersede any prior written and verbal agreements among them with respect to the subject matter hereof and thereof, and shall bind
and benefit the parties and their respective successors and permitted assigns. This Agreement shall be deemed to have been jointly drafted, and no provision of it shall be interpreted or construed for or against a party because such party
purportedly prepared or requested such provision, any other provision or this Amendment as a whole. No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no
such party has relied on any such promise, condition, representation or warranty. Each of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or
implied, have been made by any party to any other party in relation to the subject matter hereof or thereof. None of the terms or conditions of this Amendment may be changed, modified, waived or cancelled orally or otherwise, except in writing and
in accordance with Section 12.5 of the Credit Agreement (Amendments, Waivers and Consents). 

  
 2 

	5.	 Full Force and Effect of Credit Agreement. 

This Amendment is a Loan Document (and the Borrower agrees that the “Obligations” secured by the Collateral shall include any and all
obligations of the Borrower under this Amendment). Except as expressly modified hereby, all terms and provisions of the Credit Agreement and all other Loan Documents remain in full force and effect and nothing contained in this Amendment shall in
any way impair the validity or enforceability of the Credit Agreement or the Loan Documents, or alter, waive, annul, vary, affect, or impair any provisions, conditions, or covenants contained therein or any rights, powers, or remedies granted
therein. This Amendment shall not constitute a modification of the Credit Agreement or any of the other Loan Documents or a course of dealing with Agent or the Lenders at variance with the Credit Agreement or the other Loan Documents such as to
require further notice by Agent or any Lender to require strict compliance with the terms of the Credit Agreement and the other Loan Documents in the future, except in each case as expressly set forth herein. The Borrower acknowledges and expressly
agrees that Agent and the Lenders reserve the right to, and do in fact, require strict compliance with all terms and provisions of the Credit Agreement and the other Loan Documents (subject to any qualifications set forth therein), as amended
herein. 
  

	6.	 Counterparts; Effectiveness. 

This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an
original, but all of which when taken together shall constitute a single contract. Except as provided in Section 3 above, this Amendment shall become effective when the Agent shall have received counterparts hereof that,
when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Amendment by facsimile, electronic email or other electronic imaging means (e.g., “pdf” or
“tif”) shall be effective as delivery of a manually executed counterpart of this Amendment. 
 The words “execution,”
“execute”, “signed,” “signature,” and words of like import in or related to this Amendment or any document to be signed in connection with this Amendment and the transactions contemplated hereby (including without
limitation assignment and assumptions, amendments or other borrowing requests, waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms
approved by the Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based 

  
 3 

 
recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York
State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. Each of the parties represents and warrants to the other parties that it has the corporate capacity and authority to
execute this Amendment through electronic means and there are no restrictions for doing so in that party’s constitutive documents. 
  

	7.	 Governing Law; Jurisdiction; Waiver of Jury Trial. 

THE VALIDITY, INTERPRETATION AND ENFORCEMENT OF THIS AMENDMENT AND ANY DISPUTE ARISING OUT OF OR IN CONNECTION WITH THIS AMENDMENT, WHETHER
SOUNDING IN CONTRACT, TORT OR EQUITY OR OTHERWISE, SHALL BE GOVERNED BY THE INTERNAL LAWS (AS OPPOSED TO THE CONFLICTS OF LAW PROVISIONS OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW) AND
DECISIONS OF THE STATE OF NEW YORK. Sections 12.15 (Submission to Jurisdiction) and 12.17 (Jury Trial) of the Credit Agreement are hereby incorporated herein by this reference. 

 

	8.	 Severability. 

In case any provision in or obligation under this Amendment shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or of such provisions or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby. 

 

	9.	 References. 

All references in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import
referring to the Credit Agreement and each reference to the “Credit Agreement”, (or the defined term “Agreement”, “thereunder”, “thereof” of words of like import referring to the Credit Agreement) in the other
Loan Documents shall mean and be a reference to the Credit Agreement as amended hereby and giving effect to the amendments contained in this Amendment. 

[Signature pages follow] 

  
 4 

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

			
	TEAM, INC., as Borrower
		
	By:	 	/s/ Andre C. Bouchard
	Name:	 	Andre C. Bouchard
	Title:	 	EVP, Chief Legal Officer

 [Team, Inc. Term Loan Credit Agreement 

Amendment No.1 Signature Page] 

 
			
	APSC HOLDCO I, L.P., as Lender
		
	By:	 	/s/ George Fan
	Name:	 	George Fan
	Title:	 	Authorized Signatory

 [Team, Inc. Term Loan Credit Agreement 

Amendment No.1 Signature Page] 

  

			
	Acknowledged and Agreed:
	
	ATLANTIC PARK STRATEGIC CAPITAL FUND, L.P., as Agent
		
	By:	 	/s/ George Fan
	Name:	 	George Fan
	Title	 	Authorized Signatory

 [Team, Inc. Term Loan Credit Agreement 

Amendment No.1 Signature Page] 

 Execution
VersionANNEX A 
  

 
 TERM LOAN CREDIT AGREEMENT 

among 
 TEAM, INC. 

as Borrower, 
 THE LENDERS FROM
TIME TO TIME PARTY HERETO, 
 and 

ATLANTIC PARK STRATEGIC CAPITAL FUND, L.P., 

as Agent 
 Dated as of
December 18, 2020 
  
  

 TABLE OF CONTENTS 
  

							
	 	  	 	  	Page	 
	 ARTICLE I. DEFINITIONS
	  	 	1	 
			
	 1.1
	  	Definitions	  	 	1	 
			
	 1.2
	  	Accounting Terms and Determinations	  	 	5054	 
			
	 1.3
	  	Divisions	  	 	5054	 
			
	 1.4
	  	Other Terms; Headings	  	 	5055	 
			
	 1.5
	  	Dutch Terms. In this Agreement, a reference to:	  	 	5156	 
			
	 1.6

	  	Quebec Matters	  	 	57 	 
		
	ARTICLE II. THE CREDIT FACILITIES	  	 	5257	 
			
	 2.1
	  	The Loans	  	 	5257	 
			
	 2.2
	  	[Reserved]	  	 	5358	 
			
	 2.3
	  	Procedure for Borrowing; Notices of Borrowing; Notices of Conversion	  	 	5358	 
			
	 2.4
	  	Application of Proceeds	  	 	5662	 
			
	 2.5
	  	Mandatory Prepayments; Optional Prepayments	  	 	5762	 
			
	 2.6
	  	[Reserved]	  	 	5864	 
			
	 2.7
	  	[Reserved]	  	 	5864	 
			
	 2.8
	  	Term	  	 	5864	 
			
	 2.9
	  	Payment Procedures	  	 	5864	 
			
	 2.10
	  	Designation of a Different Lending Office	  	 	5965	 
			
	 2.11
	  	Replacement of Lenders	  	 	5965	 
			
	 2.12
	  	[Reserved]	  	 	6066	 
			
	 2.13
	  	[Reserved]	  	 	6066	 
			
	 2.14
	  	Sharing of Payments, Etc.	  	 	6066	 
			
	 2.15
	  	[Reserved]	  	 	6066	 
			
	 2.16
	  	Incremental Term Loans	  	 	6067	 
		
	ARTICLE III. [RESERVED]	  	 	6268	 
		
	ARTICLE IV. INTEREST, FEES AND EXPENSES	  	 	6268	 
			
	 4.1
	  	Interest	  	 	6268	 
			
	 4.2
	  	Interest After Event of Default	  	 	6369	 
			
	 4.3
	  	Applicable Premium	  	 	6369	 
			
	 4.4
	  	[Reserved]	  	 	6470	 
			
	 4.5
	  	[Reserved]	  	 	6470	 
			
	 4.6
	  	[Reserved]	  	 	6470	 

  
 -i- 

							
	 4.7
	  	[Reserved]	  	 	6470	 
			
	 4.8
	  	[Reserved]	  	 	6470	 
			
	 4.9
	  	Calculations	  	 	6470	 
			
	 4.10
	  	Increased Costs	  	 	6571	 
			
	 4.11
	  	Taxes	  	 	6672	 
		
	 ARTICLE V. CONDITIONS OF LENDING
	  	 	6976	 
			
	 5.1
	  	Conditions to Initial Term Loan	  	 	6976	 
			
	 5.2
	  	Conditions Precedent to Each Loan	  	 	7481	 
		
	 ARTICLE VI. REPRESENTATIONS AND WARRANTIES
	  	 	7581	 
			
	 6.1
	  	Representations and Warranties of Borrower	  	 	7581	 
		
	 ARTICLE VII. AFFIRMATIVE COVENANTS OF THE BORROWER
	  	 	8593	 
			
	 7.1
	  	Existence	  	 	8593	 
			
	 7.2
	  	Maintenance of Property	  	 	8693	 
			
	 7.3
	  	[reserved]	  	 	8693	 
			
	 7.4
	  	Taxes	  	 	8693	 
			
	 7.5
	  	Requirements of Law	  	 	8693	 
			
	 7.6
	  	Insurance	  	 	8794	 
			
	 7.7
	  	Books and Records; Inspections	  	 	8794	 
			
	 7.8
	  	Notification Requirements	  	 	8895	 
			
	 7.9
	  	[Reserved]Independent Director	  	 	9198	 
			
	 7.10
	  	Qualify to Transact Business	  	 	9198	 
			
	 7.11
	  	Financial Reporting	  	 	9199	 
			
	 7.12
	  	Payment of Liabilities	  	 	93101	 
			
	 7.13
	  	ERISA	  	 	94101	 
			
	 7.14
	  	Environmental Matters	  	 	94102	 
			
	 7.15
	  	Intellectual Property	  	 	94102	 
			
	 7.16
	  	Solvency	  	 	94102	 
			
	 7.17
	  	Further AssurancesAccess to Employees	  	 
	95102
	 
			
	 7.18
	  	[Reserved]	  	 	95102	 
			
	 7.19
	  	Anti-Money Laundering Laws and Anti-Corruption Laws	  	 	95102	 
			
	 7.20
	  	Formation of SubsidiariesFurther Assurances	  	 
	95103
	 
			
	 7.21
	  	Post-Closing Covenants	  	 	96103	 

							
	 7.22
	  	People with Significant Control Regime[Reserved]	  	 	96103	 
			
	 7.23
	  	Residency for Dutch Tax Purposes	  	 	96103	 
			
	 7.24
	  	Fiscal Unity for Dutch Tax Purposes	  	 	96104	 
			
	 7.25
	  	Allocation of Tax Losses upon Termination of Fiscal Unity for Dutch Tax Purposes	  	 	96104	 
		
	ARTICLE VIII. NEGATIVE COVENANTS	  	 	96104	 
			
	 8.1
	  	Indebtedness	  	 	97104	 
			
	 8.2
	  	[Reserved]	  	 	99106	 
			
	 8.3
	  	Entity Changes, Etc.	  	 	99106	 
			
	 8.4
	  	Change in Nature of Business	  	 	99107	 
			
	 8.5
	  	Sales, Etc. of Assets	  	 	100107	 
			
	 8.6
	  	Use of Proceeds	  	 	101109	 
			
	 8.7
	  	[Reserved]	  	 	101109	 
			
	 8.8
	  	Liens	  	 	101109	 
			
	 8.9
	  	Dividends, Redemptions, Distributions, Etc.	  	 	101109	 
			
	 8.10
	  	Investments	  	 	102110	 
			
	 8.11
	  	[Reserved]	  	 	103111	 
			
	 8.12
	  	Fiscal Year	  	 	103111	 
			
	 8.13
	  	[Reserved]Accounting Changes. 	  	 	103111	 
			
	 8.14
	  	[Reserved]	  	 	103111	 
			
	 8.15
	  	ERISA Compliance	  	 	103111	 
			
	 8.16
	  	[Reserved].UK Pensions.	  	 	104112	 
			
	 8.17
	  	Prepayments and Amendments	  	 	104113	 
			
	 8.18
	  	Lease Obligations	  	 	105114	 
			
	 8.19
	  	[Reserved]	  	 	105115	 
			
	 8.20
	  	[Reserved]	  	 	105115	 
			
	 8.21
	  	[Reserved].Securities and Deposit Accounts.	  	 	105115	 
			
	
8.22
	  	Negative Pledge	  	 	105115	 
			
	 8.23
	  	Affiliate Transactions	  	 	106116	 
			
	
8.24
	  	Collateral Located in Quebec. 	  	 	116	 
		
	ARTICLE IX. FINANCIAL COVENANT(S)	  	 	107116	 
			
	 9.1
	  	Maximum Net Leverage Ratio	  	 	107116	 
	 9.2
	  	Maximum Annual Capital Expenditures	  	 	107117	 

							
		
	 ARTICLE X. EVENTS OF DEFAULT
	  	 	107117	 
			
	 10.1
	  	Events of Default	  	 	107117	 
			
	 10.2
	  	Acceleration and Termination	  	 	109119	 
			
	 10.3
	  	Other Remedies	  	 	109119	 
			
	 10.4
	  	License for Use of Software and Other Intellectual Property	  	 	110120	 
			
	 10.5
	  	Post-Default Allocation of Payments	  	 	110120	 
			
	 10.6
	  	No Marshaling; Deficiencies; Remedies Cumulative	  	 	111121	 
			
	 10.7
	  	Waivers	  	 	111121	 
			
	 10.8
	  	Further Rights of Agent and the Lenders	  	 	112122	 
			
	 10.9
	  	Interest After Event of Default	  	 	112122	 
			
	 10.10
	  	Receiver	  	 	112122	 
			
	 10.11
	  	Rights and Remedies not Exclusive	  	 	112122	 
		
	 ARTICLE XI. THE AGENT
	  	 	113123	 
			
	 11.1
	  	Appointment of Agent	  	 	113123	 
			
	 11.2
	  	Nature of Duties of Agent	  	 	113123	 
			
	 11.3
	  	Lack of Reliance on Agent	  	 	113123	 
			
	 11.4
	  	Certain Rights of Agent	  	 	114124	 
			
	 11.5
	  	Reliance by Agent	  	 	114124	 
			
	 11.6
	  	Indemnification of Agent	  	 	114124	 
			
	 11.7
	  	Agent in Its Individual Capacity	  	 	114124	 
			
	 11.8
	  	Holders of Notes	  	 	114125	 
			
	 11.9
	  	Successor Agent	  	 	115125	 
			
	 11.10
	  	Collateral Matters	  	 	115125	 
			
	 11.11
	  	Actions with Respect to Defaults	  	 	116127	 
			
	 11.12
	  	Delivery of Information	  	 	116127	 
			
	 11.13
	  	English Law Governed Transaction Security	  	 	116127	 
		
	 ARTICLE XII. GENERAL PROVISIONS
	  	 	120130	 
			
	 12.1
	  	Notices	  	 	120130	 
			
	 12.2
	  	Delays; Partial Exercise of Remedies	  	 	121131	 
			
	 12.3
	  	Right of Setoff	  	 	121131	 
			
	 12.4
	  	Indemnification; Reimbursement of Expenses of Collection.	  	 	121132	 
			
	 12.5
	  	Amendments, Waivers and Consents	  	 	122133	 
			
	 12.6
	  	Nonliability of Agent and Lenders	  	 	123134	 

							
	 12.7
	  	Assignments and Participations	  	 	123134	 
			
	 12.8
	  	Counterparts; Facsimile Signatures	  	 	126137	 
			
	 12.9
	  	Severability	  	 	126137	 
			
	 12.10
	  	Maximum Rate	  	 	127137	 
			
	 12.11
	  	[Reserved]	  	 	127138	 
			
	 12.12
	  	Entire Agreement; Successors and Assigns; Interpretation	  	 	127138	 
			
	 12.13
	  	LIMITATION OF LIABILITY	  	 	128138	 
			
	 12.14
	  	GOVERNING LAW	  	 	128139	 
			
	 12.15
	  	SUBMISSION TO JURISDICTION	  	 	128139	 
			
	 12.16
	  	[RESERVED]	  	 	129140	 
			
	 12.17
	  	JURY TRIAL	  	 	129140	 
			
	 12.18
	  	Attorney	  	 	129140	 
			
	 12.19
	  	Agent Titles	  	 	129140	 
			
	 12.20
	  	Publicity	  	 	129140	 
			
	 12.21
	  	No Third Party Beneficiaries	  	 	130141	 
			
	 12.22
	  	Confidentiality	  	 	130141	 
			
	 12.23
	  	Patriot Act Notice, etc.	  	 	131142	 
			
	 12.24
	  	Advice of Counsel	  	 	131142	 
			
	 12.25
	  	Captions	  	 	131142	 
			
	 12.26
	  	Platform	  	 	131142	 
			
	 12.27
	  	Right to Cure	  	 	132143	 
			
	 12.28
	  	Acknowledgment and Consent to Bail-In of Affected Financial Institutions	  	 	132143	 
			
	 12.29
	  	Time	  	 	133144	 
			
	 12.30
	  	Keepwell	  	 	133144	 
			
	 12.31
	  	Sovereign Immunity	  	 	133144	 
			
	 12.32
	  	Tax Treatment	  	 	133145	 

			
	 Schedules
	  	
		
	Schedule E-1	  	Eligible Inventory
	Schedule E-2	  	Existing Letters of Credit
	Schedule 3.4(a)	  	Commercial Tort Claims
	Schedule 6.1(a)	  	Loan Parties
	Schedule 6.1(b)	  	Locations of Collateral and Real Property
	Schedule 6.1(f)	  	Consents and Authorizations
	Schedule 6.1(g)	  	Ownership; Subsidiaries
	Schedule 6.1(p)	  	Judgments; Litigation
	Schedule 6.1(v)	  	ERISA Plans
	Schedule 6.1(w)	  	Intellectual Property
	Schedule 6.1(x)	  	Labor Contracts
	Schedule 6.1(ii)	  	Common Enterprise
	Schedule 6.1(nn)	  	Responsible Officers
	Schedule 7.21	  	Post-Closing Covenants
	Schedule 8.1(b)	  	Existing Indebtedness
	Schedule 8.2	  	Contingent Obligations
	Schedule 8.5	  	Dispositions
	Schedule 8.8	  	Existing Liens
	Schedule 8.23	  	Affiliate Transactions of Loan Parties
		
	Annexes	  	
		
	Annex A	  	Lenders and Commitments
	Exhibits	  	
	Exhibit A	  	Note
	Exhibit B	  	Notice of Borrowing
	Exhibit C	  	Notice of Conversion
	Exhibit D	  	[Reserved]
	Exhibit E	  	Perfection Certificate
	Exhibit F	  	Financial Condition Certificate
	Exhibit G	  	Closing Certificate
	Exhibit H	  	Compliance Certificate
	Exhibit I	  	[Reserved]
	Exhibit J	  	Assignment and Acceptance
	Exhibits K-1 to K-4	  	U.S. Tax Compliance Certificates

  

  
 -i- 

 TERM LOAN CREDIT AGREEMENT 

This CREDIT AGREEMENT, is entered into as of December 18, 2020, among (i) TEAM, INC., a Delaware corporation (the
“Borrower”), (ii) each of the lenders identified as a “Lender” on Annex A attached hereto (together with each of its respective successors and assigns, if any, and any Additional Lenders, each a
“Lender” and, collectively, the “Lenders”), and (iii) ATLANTIC PARK STRATEGIC CAPITAL FUND, L.P. (“Atlantic Park”), acting not individually but as agent on behalf of, and
for the benefit of, the Lenders and all other Secured Parties (in such capacity, together with its successors and assigns, if any, in such capacity, herein called the “Agent”). 

W I T N E S S E T H : 

WHEREAS, upon the terms and subject to the conditions set forth herein, the Lenders are willing to make loans to the Borrower
consisting, on the Closing Date, of a term loan in an amount of up to $250,000,000 and have requested that Atlantic Park act as Agent in connection with such credit extensions; 

NOW, THEREFORE, in respect of the foregoing premises and other valuable consideration, the receipt and sufficiency of which are
hereby mutually acknowledged, the Borrower, the Lenders, and the Agent, each intending to be legally bound, hereby agree as follows: 

ARTICLE I. 
 DEFINITIONS

 1.1 Definitions. Any terms (whether capitalized or lower case) used in this Agreement that are defined in the UCC (including
Account, Account Debtor, Chattel Paper, Commercial Tort Claims, Deposit Account, Drafts, Documents, Equipment, Farm Products, Fixtures, General Intangibles, Inventory, Investment Property, Instruments, Promissory Notes, Proceeds, Securities Account
and Supporting Obligations) shall be construed and defined as set forth in the UCC unless otherwise defined herein. In addition, as used herein, the following terms shall have the meanings herein specified (to be equally applicable to both the
singular and plural forms of the terms defined): 
 “2017 Senior Convertible Notes” means the 5.00% Convertible
Senior Notes due 2023 issued by the Borrower as of the Closing Date. 
 “ABL Agent” means Citibank, N.A., in its
capacity as administrative agent and/or collateral agent for the lenders under the ABL Credit Agreement, or the administrative agent and/or collateral agent (or similar agent) under any other ABL Facility, and any successor thereto in any such
capacity. 
 “ABL Credit Agreement” means that certain Credit Agreement, dated as of the date hereof, by and among
the Borrower, the lenders party thereto from time to time and ABL Agent, as amended, restated, supplemented or otherwise modified (including increasing the amount loaned thereunder) or extended or refinanced from time to time in accordance with the
Loan Documents. 

 “ABL Facility” means Indebtedness under (a) the ABL Credit
Agreement and (b) any customary asset-based revolving credit facility that refunds, replaces (whether upon termination or otherwise) or refinances in whole or in part any Indebtedness under the ABL Credit Agreement from time to time;
provided that any such Indebtedness is Incurred in accordance with Section 8.1. 
 “ABL
Obligations” means all “ABL Debt Obligations” (as defined in the Intercreditor Agreement). 
 “ABL Loan
Documents” means (a) the ABL Credit Agreement and (b) each of the other agreements, instruments and other documents with respect to the ABL Obligations, all as in effect on the date hereof or as may be amended, modified
or supplemented from time to time in accordance with the Intercreditor Agreement. 
 “Acceptance Date” has the
meaning specified in Section 12.7(b). 
 “Acquired Indebtedness” means Indebtedness of a Person
whose assets or Equity Interests are acquired by a Loan Party or any of its Subsidiaries in a Permitted Acquisition; provided, that 

(i) such Indebtedness (i) was in existence prior to the date of such Permitted Acquisition, and (ii) was not incurred in connection
with, or in contemplation of, such Permitted Acquisition, 
 (ii) no Person (other than such Person so acquired in such Permitted
Acquisition or any other Person that such Person merges with or that acquires the assets of such Person in connection with such Permitted Acquisition) shall have any liability or other obligation with respect to such Indebtedness and 

(iii) if such Indebtedness is secured, no Lien thereon shall extend to or cover any other assets other than the assets acquired in such
Permitted Acquisition (other than the proceeds or products thereof, accessions or additions thereto and improvements thereon) or attach to any other property of any Loan Party. 

“Acquisition” means (i) 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 (ii) the purchase or other acquisition (whether by means of a merger, consolidation, or otherwise) by a Person or its Subsidiaries of all of the Equity Interests of
any other Person. 
 “Additional Lender” has the meaning specified in Section 2.16(b). 

“Advance” means amounts advanced by the Lenders (or any of them, as applicable) to or for the benefit of Borrower
pursuant to Section 2.1 hereof on the occasion of any borrowing and which are of the same initial Type, and “Advances” shall mean more than one Advance. 

  
 2 

 “Affected Financial Institution” means (a) any EEA Financial
Institution or (b) any UK Financial Institution. 
 “Affiliate” means, as to any Person, any other Person who
directly or indirectly Controls, is under common Control with, is Controlled by or is a director, officer, manager or general partner of such Person, provided that, in any event, any Person who owns directly or indirectly 15% or more
of the Voting Interests of a Person, shall be deemed to control such Person. Without limitation of the foregoing, the following Persons shall at all times constitute Affiliates of the Borrower: (i) the Borrower, (iii) each Guarantor and
(iv) all Subsidiaries. 
 “Agent” has the meaning specified in the preamble to this Agreement. 

“Agent Parties” has the meaning specified in Section 12.25(b). 

“Agent’s Payment Account” means an account designated on the Closing Date and from time to time thereafter by
Agent to the Lenders and Borrower as the “Agent’s Payment Account”. 
 “Agreement” means this Credit
Agreement, as amended, amended and restated, supplemented or otherwise modified from time to time. 
 “AHYDO Catch-Up Payment” has the meaning specified in Section 2.5(c). 

“AHYDO Catch-Up Payment Date” has the meaning specified in
Section 2.5(c). 
 “All-In Yield” means, as to any
Indebtedness, the annual yield thereof, whether in the form of interest rate margins, original issue discount (“OID”) or upfront fees and any LIBOR Index Rate floors (with such increased amount being equated to interest margins for
purposes of determining any increase to the Applicable Margin); provided that, (i) OID and upfront fees shall be equated to interest rates assuming a four year life to maturity and (ii)
“All-In Yield” shall not include arrangement fees, structuring fees, underwriting fees or similar fees that are not paid to all Lenders providing the relevant Indebtedness. 

“
Amendment No. 
1” means
that certain Amendment No. 1 to Term Loan Credit Agreement, dated as of the Amendment No. 1 Effective Date, between the Borrower and the Lenders party
thereto. 
 “Amendment
No. 1 Effective Date” means
 October 19, 2021. 

“Anti-Corruption Laws” means the United States Foreign Corrupt Practices Act of 1977, the U.K. Bribery Act of 2010, the
Corruption of Foreign Public Officials Act (Canada), each as amended, and all other applicable laws and regulations or ordinances concerning or relating to bribery or corruption in any jurisdiction in which any Loan Party or any of its Subsidiaries
or Affiliates is located or is doing business. 

  
 3 

 “Anti-Money Laundering Laws” means the applicable statutes, laws,
regulations, or rules 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, including, but not limited to, the Bank Secrecy Act (31 U.S.C. § 5311 et seq.), the Patriot Act and the Proceeds of Crime Money Laundering and Terrorist Financing Act (Canada). 

“Applicable Margin” means, (a) for LIBOR Loans, 7.50% and (b) for Base Rate Loans, 6.50%. 

“Applicable Premium” means 

(i) in connection with the occurrence of an Applicable Premium Trigger Event specified in clause (i), (iii), or
(iv) of the definition thereof: 
 (A) during the period from and after the Closing Date up to and
including the date that is the second anniversary of the Closing Date, an amount equal to the Make-Whole Amount; 
 (B)
during the period after the second anniversary of the Closing Date up to and including the date that is the third anniversary of the Closing Date, an amount equal to 4.00% of (x) in connection with the occurrence of an Applicable Premium
Trigger Event specified in clause (i) of the definition thereof, the aggregate principal amount of the Term Loans being paid on such date or (y) in connection with the occurrence of an Applicable Premium Trigger Event specified in clauses
(iii) or (iv) of the definition thereof, the aggregate principal amount of the Term Loans outstanding on such date; 

(C) during the period after the third anniversary of the Closing Date up to and including the date that is the fourth
anniversary of the Closing Date, an amount equal to 2.00% of (x) in connection with the occurrence of an Applicable Premium Trigger Event specified in clause (i) of the definition thereof, the aggregate principal amount of the Term Loans
being paid on such date or (y) in connection with the occurrence of an Applicable Premium Trigger Event specified in clauses (iii) or (iv) of the definition thereof, the aggregate principal amount of the Term Loans outstanding on such
date; and 
 (D) thereafter, zero; and 

(ii) in connection with the occurrence of a Corporate Change of Control Trigger Event: 

(A) during the period from and after the Closing Date up to and including the date that is the first anniversary of the
Closing Date, an amount equal to the Make-Whole Amount; 
 (B) during the period after the first anniversary of the Closing
Date up to and including the date that is the second anniversary of the Closing Date, an amount equal to 6.00% of the aggregate principal amount of the Term Loans being paid on such date; 

  
 4 

 (C) during the period after second anniversary of the Closing Date up to and
including the date that is the third anniversary of the Closing Date, an amount equal to 4.00% of the aggregate principal amount of the Term Loans being paid on such date; 

(D) during the period after the third anniversary of the Closing Date up to and including the date that is the fourth
anniversary of the Closing Date, an amount equal to 2.00% of the aggregate principal amount of the Term Loans being paid on such date; and 

(E) thereafter, zero. 

“Applicable Premium Trigger Event” means 

(i) any payment by any Loan Party of all, or any part, of the principal balance of any Term Loan for any reason (including any optional
prepayment or mandatory prepayment other than any prepayment made pursuant to Section 2.5(b)(i) but excluding a Corporate Change of Control) whether before or after (A) the occurrence of an Event of Default, (B) the
commencement of any Insolvency Event, and notwithstanding any acceleration (for any reason) of the Obligations or (C) pursuant to Section 2.11 ; 

(ii) any prepayment made substantially concurrently with a Corporate Change of Control (any such Applicable Premium Trigger Event pursuant to
this clause (ii), a “Corporate Change of Control Trigger Event”); 
 (iii) the acceleration of the
Obligations following an Event of Default, including acceleration in accordance with Section 10.2 , including as a result of the commencement of an Insolvency Event; or 

(iv) the satisfaction, release, payment, restructuring, reorganization, replacement, reinstatement, defeasance or compromise of any of the
Obligations in any Insolvency Event, foreclosure (whether by power of judicial proceeding or otherwise) or deed in lieu of foreclosure or the making of a distribution of any kind in any Insolvency Event to Agent, for the account of the Lenders in
full or partial satisfaction of the Obligations. 
 “Asset Disposition” means any direct or indirect sale, lease
(other than an operating lease entered into in the ordinary course of business), transfer, issuance or other disposition, or a series of related sales, leases, transfers, issuances or dispositions that are part of a common plan, of shares of Equity
Interests of a Subsidiary (other than directors’ qualifying shares), property or other assets (each referred to for the purposes of this definition as a “disposition”) by the Borrower or any of its Subsidiaries,
including any disposition by means of a merger, amalgamation, consolidation or similar transaction. 
 “Assignment and
Acceptance” means an Assignment and Acceptance entered into by a Lender and its assignee, and accepted by Agent, to be substantially in the form of Exhibit J-1, or such other form as
acceptable to Agent. 
 “Atlantic Park” has the meaning specified in the preamble to this Agreement. 

  
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 “Auditors” means a nationally recognized firm of independent public
accountants selected by Borrower and reasonably satisfactory to Agent. 
 “Available Tenor” means, as of any date of
determination and with respect to the then-current Benchmark, as applicable, any tenor for such Benchmark or payment period for interest calculated with reference to such Benchmark, as applicable, that is or may be used for determining the length of
an interest period pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is eliminated pursuant to Section 2.3(j) titled “Benchmark Replacement Setting.”

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

“Bail-In Legislation” means (a) 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, regulation, rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the
United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings). 

“Bank Product” means any of the following products, services or facilities extended to any Loan Party or any of its
Subsidiaries: 
 (i) Cash Management Services; and 

(ii) products under Hedging Agreements for non-speculative purposes. 

“Bank Product Obligations” means Indebtedness and other obligations of any Loan Party or any of its Subsidiaries
arising from Bank Products. 
 “Bankruptcy Code” means Title 11 of the United States Code entitled
“Bankruptcy,” as that title may be amended from time to time, or any successor statute. 
 “Base Rate”
means, for any period, a fluctuating interest rate per annum at all times equal to the greatest of: (i) the Federal Funds Rate plus 0.50%, (ii) the Prime Rate, and (iii) the LIBOR Index Rate that would be payable on such day for a LIBOR
Index Rate Loan with a one-month Interest Period plus 1.00% per annum. If, for any reason, Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable, after
due inquiry, to ascertain LIBOR Index Rate, for any reason, including the inability or failure of Agent to obtain sufficient quotations in accordance with the terms hereof, the Base Rate shall be determined without regard to clause
(iii) of the first sentence of this definition until the circumstances giving rise to such inability no longer exist. Any change in the Base Rate due to a change in the Prime Rate or LIBOR Index Rate shall be effective on the effective date
of such change in the Prime Rate or LIBOR Index Rate, respectively, automatically and without notice to any Person. Notwithstanding anything in this Agreement to the contrary, if the Base Rate determined as provided above would be less than 2.00%,
then the Base Rate shall be deemed to be 2.00%. 

  
 6 

 “Base Rate Advance” means an Advance that bears interest as provided
in Section 4.1(a). 
 “Base Rate Loans” means Loans the rate of interest applicable to which is based upon
the Base Rate. 
 “Benchmark” means, initially, USD LIBOR; provided that if a Benchmark Transition Event or
an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred with respect to USD LIBOR or the then-current Benchmark, then “Benchmark” means the applicable
Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 2.3(j) titled “Benchmark Replacement Setting.” 

“Benchmark Replacement” means, for any Available Tenor, the first alternative set forth in the order below that can be
determined by the Agent for the applicable Benchmark Replacement Date: 
 (i) the sum of: (a) Term SOFR and (b) the related
Benchmark Replacement Adjustment; 
 (ii) the sum of: (a) Daily Simple SOFR and (b) the related Benchmark Replacement Adjustment;

 (iii) the sum of: (a) the alternate benchmark rate that has been selected by the Agent and the Borrower as the replacement for the
then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (1) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or
(2) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for U.S. dollar-denominated syndicated credit facilities at such time and (b) the related Benchmark
Replacement Adjustment; provided that, in the case of clause (i), such Unadjusted Benchmark Replacement is displayed on a screen or other information service that publishes such rate from time to time as selected by the Agent in
its reasonable discretion. 
 If the Benchmark Replacement as determined pursuant to clause (i), (ii) or
(iii) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents. 

“Benchmark Replacement Adjustment” means, with respect to any replacement of the then current Benchmark with an
Unadjusted Benchmark Replacement for any applicable interest period and Available Tenor for any setting of such Unadjusted Benchmark Replacement: 

(i) for purposes of clauses (i) and (ii) of the definition of “Benchmark Replacement,” the first
alternative set forth in the order below that can be determined by the Agent: (a) the 

  
 7 

 spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive
or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for an applicable interest period that has been selected or recommended by the Relevant Governmental Body for the replacement of such Benchmark with the
applicable Unadjusted Benchmark Replacement for the applicable Corresponding Tenor; (b) the spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such interest
period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be effective upon an index cessation event with respect to such Benchmark for the applicable Corresponding Tenor; and 

(ii) for purposes of clause (iii) of the definition of “Benchmark Replacement,” 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 the Agent and the Borrower for the applicable Corresponding Tenor giving due consideration to (a) any selection
or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable
Benchmark Replacement Date or (b) 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 such Benchmark with the applicable
Unadjusted Benchmark Replacement for U.S. dollar denominated syndicated credit facilities; provided that, in the case of clause (i) above, such adjustment is displayed on a screen or other information service
that publishes such Benchmark Replacement Adjustment from time to time as selected by the Agent in its reasonable discretion. 

“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical,
administrative or operational changes (including changes to the definition of “ABR,” the definition of “Business Day,” the applicable interest period, timing and frequency of determining rates and making payments of interest,
timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Agent decides may be
appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Agent in a manner substantially consistent with market practice (or, if the Agent decides that adoption of any
portion of such market practice is not administratively feasible or if the Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Agent decides is
reasonably necessary in connection with the administration of this Agreement and the other Loan Documents). 
 “Benchmark
Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark: 
 (i) in the
case of clause (i) or (ii) of the definition of “Benchmark Transition Event,” the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on
which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); 

  
 8 

 (ii) in the case of clause (iii) of the definition of “Benchmark
Transition Event,” the date of the public statement or publication of information referenced therein; or 
 (iii) in the case of an
Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, so long as the Agent has not
received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising the Required Lenders. 
 For the avoidance of doubt, (a) if the event giving
rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination
and (b) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (i) or (ii) with respect to any Benchmark upon the occurrence of the applicable event or events set forth
therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof). 

“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the
then-current Benchmark: 
 (i) a public statement or publication of information by or on behalf of the administrator of such Benchmark (or
the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely, provided that, at the
time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); 

(ii) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published
component used in the calculation thereof), the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a
resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states
that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such statement or
publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or 

(iii) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published
component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer representative. 

  
 9 

 For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with
respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof). 

“Benchmark Unavailability Period” means the period (if any) (x) beginning at the time that a Benchmark
Replacement Date pursuant to clauses (i) or (ii) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan
Document in accordance with Section 2.3(j) titled “Benchmark Replacement Setting” and (y) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under
any Loan Document in accordance with Section 2.3(j) titled “Benchmark Replacement Setting.” 

“Beneficial Ownership Certification” means a certification regarding beneficial ownership as required by the
Beneficial Ownership Regulation. 
 “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230. 

“Borrower” has the meaning specified in the preamble to this Agreement. 

“Borrowing” has the meaning specified in Section 2.3(a). 

“Borrowing Date” means the date on which a Borrowing is obtained. 

“Business Day” means any day other than a Saturday, a Sunday or any other day on which commercial banks in New York,
New York are required or permitted by law to close. When used in connection with any LIBOR Rate Advance, a Business Day shall also exclude any day on which commercial banks are not open for dealings in Dollar deposits in the London interbank market.

 “Business Plan” means a business plan of the Loan Parties and their Subsidiaries, consisting of consolidated
projected balance sheets, related cash flow statements and related profit and loss statements, together with appropriate supporting details and a statement of the underlying assumptions, which (i) as of the Closing Date, covers a four-year
period and (ii) for business plans delivered after the Closing Date, covers a one-year period, and, in each case, which is prepared on a monthly basis for the first year and a quarterly basis thereafter.

 “Canadian Guarantor” means any Guarantor organized under Canadian law. 

“Canadian Registered Pension Plan” means a pension plan subject to (i) the Pension Benefits Act (Ontario) or any
other applicable provincial, territorial, or federal pension benefits standards legislation as amended from time to time and any successor statute or (ii) a “registered pension plan” as that term is defined in subsection 248(1) of the
Tax Act. 
 “Canadian Security Agreement” means a guaranty and security agreement, dated as of even date with this
Agreement, in form and substance reasonably satisfactory to Agent, executed and delivered by each of the Canadian Loan Parties to Agent. 

  
 10 

 “Canadian Security Documents” means the Canadian Security Agreement,
any share pledge agreement governed by Canadian law which provides for a Lien in favor of the Agent as security for any of the Obligations, and each other agreement, document or instrument executed by any Loan Party governed by Canadian law which
provides for a Lien in favor of the Agent as security for any of the Obligations. 
 “Capital Expenditures” means,
for any period of four consecutive fiscal quarters, for Borrower and its Subsidiaries on a consolidated basis, consolidated expenditures during such period that are required to be included in or are reflected by the consolidated property, plant, or
equipment accounts of Borrower or any of its Subsidiaries, or any similar fixed asset or improvements, replacements, substitutions or additions thereto or therefor which have a useful life of more than one year, and shall include all payments in
respect of Capitalized Lease Obligations and leasehold improvements, in each case on the balance sheet of Borrower and its Subsidiaries in conformity with GAAP. 

“Capital Lease” means a lease that is required to be capitalized for financial reporting purposes in accordance with
GAAP. 
 “Capitalized Lease Obligations” means that portion of the obligations under a Capital Lease which, under
GAAP, is or will be required to be capitalized on the books of the lessee, taken at the amount thereof accounted for as Indebtedness (net of Interest Expense) in accordance with GAAP. 

“
Catch Up Interest Payment Date” means
 the date on which all interest originally scheduled to become due during the period commencing on
October 18, 2021 and ending on October 28, 2021 (disregarding the proviso set forth in the defintion of “ Interest
 Payment
Date” )
 has been paid in full in cash and no interest payments on the Initial Term Loans are due and outstanding. 

“Cash Equivalents” means 

(i) securities issued, guaranteed or insured by the United States or any of its agencies with maturities of not more than one year from the
date acquired; 
 (ii) certificates of deposit with maturities of not more than one year from the date acquired, issued by (a) a Lender
or its Affiliates; (b) any U.S. federal or state chartered commercial bank of recognized standing which has capital and unimpaired surplus in excess of $500,000,000; or (c) any bank or its holding company that has a short-term commercial
paper rating of at least A 1 or the equivalent by Standard & Poor’s Ratings Services or at least P 1 or the equivalent by Moody’s Investors Service, Inc.; 

(iii) repurchase agreements and reverse repurchase agreements with terms of not more than thirty days from the date acquired, for securities
of the type described in clause (i) above and entered into only with commercial banks having the qualifications described in clause (ii) above or such other financial institutions with a short-term
commercial paper rating of at least A 1 or the equivalent by Standard & Poor’s Ratings Services or at least P 1 or the equivalent by Moody’s Investors Service, Inc.; 

  
 11 

 (iv) commercial paper, other than commercial paper issued by Borrower or any of its
Affiliates, issued by any Person incorporated under the laws of the United States or any state thereof and rated at least A 1 or the equivalent thereof by Standard & Poor’s Ratings Services or at least P 1 or the equivalent thereof by
Moody’s Investors Service, Inc., in each case with maturities of not more than one year from the date acquired; and 
 (v) investments
in money market funds registered under the Investment Company Act of 1940, which have net assets of at least $500,000,000 and at least eighty-five percent (85%) of whose assets consist of securities and other obligations of the type described in
clauses (i) through (iv) above. 
 “Cash Management Services” means any one
or more of the following types of services or facilities: 
 (i) credit cards, merchant card services, purchase or debit cards, including non-card e-payables services, or electronic funds transfer services, 

(ii) treasury management services (including controlled disbursement, overdraft automatic clearing house fund transfer services, return items,
and interstate depository network services) and 
 (iii) any other demand deposit or operating account relationships or other cash
management services. 
 “Casualty Events” means any event (not constituting an Asset Disposition) occurring after
the Closing Date that gives rise to the receipt by a Loan Party or any of its Subsidiaries of any casualty insurance proceeds (including business interruption insurance proceeds in excess of $5,000,000 in the aggregate) or condemnation awards in
respect of any equipment, fixed assets or real property (including any improvements thereon) to replace or repair such equipment, fixed assets or real property. 

“CFC” means a “controlled foreign corporation” within the meaning of Section 957 of the Code in which
any Loan Party or direct or indirect owner of a Loan Party is a “United States shareholder” within the meaning of Section 951(b) of the Code; provided that, notwithstanding anything under any Loan Documents, none of the
entities organized in the United Kingdom, Canada or the Netherlands (or successors thereto) shall be considered a CFC or a Foreign Subsidiary, be subject to any Section 956 Limitations, or be or become owned by any entity other than Loan
Parties. For purposes of the foregoing, “Section 956 Limitation” means any exclusion or limitation on an entity providing guarantees, pledging its assets, engaging in any repayment or repatriation transaction or on the pledge of
Equity Interests issued by any entity, in each case, as a result of such entity being considered a “controlled foreign corporation” under Section 957 of the Code or any adverse tax, cost or impact under Section 956 of the Code or
any similar provision. 

  
 12 

 “Change in Law” means the occurrence, after the date of this
Agreement, of any of the following: 
 (i) the adoption or taking effect of any law, rule, regulation or treaty; 

(ii) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any
Governmental Authority; or 
 (iii) the making or issuance of any request, rule, guideline or directive (whether or not having the force of
law) by any Governmental Authority; 
 provided that notwithstanding anything herein to the contrary, 

(A) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder
or issued in connection therewith, and 
 (B) all requests, rules, guidelines or directives promulgated by the Bank for
International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a
“Change in Law”, regardless of the date enacted, adopted or issued. 
 “Change of Control” means that:

 (i) any Person or two or more Persons acting in concert, shall have acquired beneficial ownership, directly or indirectly, of Equity
Interests of the Borrower (or other securities convertible into such Equity Interests) representing 35% or more of the combined voting power of all Equity Interests of the Borrower entitled (without regard to the occurrence of any contingency) to
vote for the election of members of the Governing Body of the Borrower, 
 (ii) Borrower fails to own and control, directly or indirectly,
100% of the Equity Interests of each other Loan Party except where such failure is as a result of a transaction permitted under the Loan Documents, 

(iii) a change in control or similar event with respect to any Loan Party, as defined or described under any indenture or agreement in respect
of Material Indebtedness to which any Loan Party is a party, shall have occurred or 
 (iv) sale of all or substantially all the assets of
the Borrower and its Subsidiaries. 
 “Claims” has the meaning specified in Section 12.4(a). 

“Closing Date” means the date of the making of the Initial Term Loans under this Agreement. 

“Code” means the Internal Revenue Code of 1986, as in effect from time to time, and all regulations and guidelines
promulgated thereunder. 

  
 13 

 “Collateral” means all assets and interests in assets and proceeds
thereof now owned or hereafter acquired by any Loan Party 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. 

“Commitments” means, collectively, the Term Commitments and any other commitments that the Lenders may from time to
time make to Borrowers pursuant hereto for the extension of any credit or other financial accommodation. 
 “Commodity Exchange
Act” means the Commodity Exchange Act (7 U.S.C. Section 1 et seq.), as amended from time to time, and any successor statute, and all regulations and guidelines promulgated thereunder. 

“Communications” has the meaning specified in Section 12.25(b). 

“Compliance Certificate” has the meaning specified in Section 7.11(d). 

“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however
denominated) or that are franchise Taxes or branch profits Taxes. 
 “Consolidated Funded Indebtedness” means, as of
any date of determination, for the Borrower and its Subsidiaries on a consolidated basis, the sum of 
 (i) the outstanding principal amount
of all obligations, whether current or long-term, for borrowed money (including Obligations hereunder) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, other than amounts owed pursuant to
insurance premium financings, 
 (ii) all purchase money Indebtedness, 

(iii) all direct obligations arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties,
surety bonds and similar instruments, 
 (iv) all obligations in respect of the deferred purchase price of property or services (other than
trade accounts payable in the ordinary course of business), 
 (v) Capitalized Leases Obligations, 

(vi) all obligations to purchase, redeem, retire, defease or otherwise make any payment prior to the Termination Date in respect of any Equity
Interests of such Person or any other Person or any warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued
and unpaid dividends; 
 (vii) without duplication, all guarantees with respect to outstanding Indebtedness of the types specified in
clauses (a) through (f) above of Persons other than the Borrower or any Subsidiary, and 

  
 14 

 (viii) all Indebtedness of the types referred to in clauses (a) through
(g) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which the Borrower or a Subsidiary is a general partner or joint venturer, unless such Indebtedness is
expressly made non-recourse to the Borrower or such Subsidiary. 

“Consolidated” means, when used with reference to financial statements or financial statement items of the Borrower
and its Subsidiaries or any other Person, such statements or items on a consolidated basis in accordance with the consolidation principles of GAAP. 

“Consolidated Tangible Assets” means, as of any date of determination, Consolidated total assets of the Borrower and
its Subsidiaries as of that date, determined in accordance with GAAP minus the Intangible Assets of the Borrower and its Subsidiaries on that date. 

“Contingent Acquisition Indebtedness” means a seller note, any earn-out
obligation or similar deferred or contingent obligation of Borrower or any Subsidiary of a Borrower incurred or created in connection with hereunder; provided that all such obligations in an aggregate amount in excess of $2,000,000
shall be subordinated to the Obligations as to right and time of payment and as to other rights and remedies thereunder and having such subordination and other terms as are, in each case, satisfactory to Agent. 

“Contribution Notice” means a contribution notice issued by the Pensions Regulator under section 38 or section 47 of
the Pensions Act 2004. 
 “Control” shall mean the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a person, whether through the ownership of voting securities, by contract or otherwise, and the terms “Controlling” and “Controlled” shall have meanings correlative thereto.

 “Convert,” “Conversion” and “Converted” each refers to conversion
of Advances of one Type into Advances of another Type pursuant to Section 2.3(c). 
 “Copyright Security
Agreement” means a copyright security agreement, in form and substance reasonably satisfactory to Agent, pursuant to which each Loan Party that has Copyrights shall grant a specific security interest as security for the Obligations, as
amended, restated, supplemented or otherwise modified from time to time. 
 “Copyrights” means 

(i) any and all copyright rights in any works subject to the copyright laws of the United States, Canada, the United Kingdom or the
Netherlands or any other country or group of countries, whether as author, assignee, transferee or otherwise, 
 (ii) all registrations and
applications for registration of any such copyright in the United States, Canada, the United Kingdom or the Netherlands or any other country or group of countries, including registrations, supplemental registrations and pending applications for
registration in the United States Copyright Office and the right to obtain all renewals thereof, including those listed on Schedule 6.1(w); 

  
 15 

 (iii) all income, royalties, damages and payments now and hereafter due or payable under and
with respect thereto, including payments under all licenses entered into in connection therewith and damages and payments for past, present or future infringements thereof; 

(iv) the right to sue for past, present, and future infringements thereof; and all rights corresponding thereto throughout the world. 

“Corporate Acquiror” means a publicly traded company or any privately held company (including a company held by a
financial sponsor), and shall not include a financial sponsor (other than via a bona fide extant portfolio company of a financial sponsor). 

“Corporate Change of Control” means a Change of Control pursuant to clause (i) or (iv) of the
definition thereof where the Person or Persons acquiring the beneficial ownership, directly or indirectly, of Equity Interests of the Borrower is a Corporate Acquiror or purchase of all or substantially all of the Equity Interests of the Borrower or
all or substantially all of the assets of the Borrower and its Subsidiaries is Corporate Acquiror. 
 “Corresponding
Tenor” with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period having approximately the same length (disregarding business day adjustment) as such Available Tenor.

 “Covered Entity” means any of the following: (i) a “covered entity” as that term is defined in,
and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a “covered FSI” as that term is defined
in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). 
 “Daily Simple SOFR” means, for any day, SOFR,
with the conventions for this rate (which will include a lookback) being established by the Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple
SOFR” for syndicated business loans; provided, that if the Agent decides that any such convention is not administratively feasible for the Agent, then the Agent may establish another convention in its reasonable discretion. 

“Debtor Relief Laws” means the Bankruptcy Code, the Bankruptcy and Insolvency Act (Canada), the
Companies’ Creditors Arrangement Act (Canada), the Winding up and Restructuring Act (Canada), the debt and/or securities reorganization provisions of the Canada Business Corporations Act or the Business Corporations
Act (Ontario), the Insolvency Act 1986 and all other liquidation, conservatorship, receivership, insolvency, reorganization or similar debtor relief laws of the United States or other any other comparable and applicable jurisdictions from
time to time in effect and affecting the rights of creditors generally. 
 “Default” means any of the events
specified in Section 10.1, which, with the giving of notice or lapse of time, or both, or the satisfaction of any other condition, would constitute an Event of Default. 

  
 16 

 “Disqualified Institutions” means: 

(i) (a) any Person that is a competitor of the Borrower or any of its Subsidiaries and identified by the Borrower in writing to the Agent
on or prior to the Closing Date; 
 (b) any Person that is a competitor of the Borrower or any of its Subsidiaries and
identified by the Borrower in writing to the Agent from time to time after the Closing Date; and 
 (c) together with any
Affiliates of such competitors described in the foregoing clauses (a) and (b) that are reasonably identifiable as such on the basis of such Affiliate’s name or otherwise identified in writing by the Borrower to
the Agent from time to time (other than any such Affiliate that is a bank, financial institution or fund (other than a Person described in clause (ii) below) that regularly invests in commercial loans or similar extensions of
credit in the ordinary course of business and for which no personnel involved with the relevant competitor (1) make investment decisions or (2) have access to non-public information relating to the
Borrower or any Person that forms part of the Borrower’s business (including its Subsidiaries)); or 
 (ii) certain banks, financial
institutions, other institutional lenders and investors and other entities that are identified by the Borrower in writing to the Agent on or prior to the Closing Date, together with any Affiliates of such identified entities that are reasonably
identifiable as such on the basis of such Affiliate’s name or otherwise identified in writing by the Borrower to the Agent from time to time. 

provided that, notwithstanding anything herein to the contrary, no written notice shall apply retroactively to disqualify any Person that has
previously acquired an assignment or participation interest in any Loans or entered into a trade for either of the foregoing; provided, further, notwithstanding anything herein to the contrary, (a) the Agent shall not be
responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Disqualified Institutions and (b) the Borrowers (on behalf of themselves and the other
Loan Parties) and the Lenders acknowledge and agree that the Agent shall have no responsibility or obligation to determine whether any Lender or potential Lender is a Disqualified Institution and that the Agent shall have no liability with respect
to any assignment or participation made to a Disqualified Institution. 
 “Disqualified Equity Interests” means any
Equity Interests that, by their terms (or by the terms of any security or other Equity Interests into which they are convertible or for which they are exchangeable), or upon the happening of any event or condition 

(i) mature automatically or are mandatorily redeemable (other than solely for Equity Interests issued by Borrower (and not by one or more of
its Subsidiaries) that are not Disqualified 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), 

  
 17 

 (ii) are redeemable at the option of the holder thereof (other than solely for Equity
Interests issued by Borrower (and not by one or more of its Subsidiaries) that are not Disqualified Equity Interests), in whole or in part, 

(iii) provide for the scheduled payments of dividends in cash that are payable without further action or decision of Borrower, or 

(iv) are or become 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 120 days after the Termination Date. 
 “Dollars” and the sign
“$” means freely transferable lawful currency of the United States of America. 
 “Dutch Guarantor”
means any Guarantor organized under Dutch law. 
 “Dutch Loan Party” means any Loan Party organized under Dutch law.

 “Dutch Security Agreements” means the following Dutch law governed security agreements: 

(i) the senior ranking security agreement among the Agent as pledgee and the Loan Parties party thereto as pledgors in relation to the Term
Loan Priority Collateral; and 
 (ii) the junior ranking security agreement among the Agent as pledgee and the Loan Parties party thereto as
pledgors in relation to the ABL Priority Collateral. 
 “Dutch Security Documents” means the Dutch Security
Agreements, the Dutch Share Pledges, and each other agreement, document or instrument executed by any Loan Party governed by Dutch law which provides for a Lien in favor of the Agent as security for any of the Obligations. 

“Dutch Share Pledges” means the following Dutch law governed notarial deeds of pledge of shares: 

(i) the deed of pledge of shares among the Agent as pledgee, Team Industrial Services Europe B.V. as pledgor and Team Industrial Services
Netherlands B.V. as company; 
 (ii) the deed of pledge of shares among the Agent as pledgee, Quest Integrity EU Holdings B.V. as pledgor
and Quest Integrity NLD B.V. as company; 
 (iii) the deed of pledge of shares among the Agent as pledgee, Team Industrial Services Europe
B.V. as pledgor and Threshold Inspection & Application Training Europe B.V. as company; 
 (iv) the deed of pledge of shares among
the Agent as pledgee, Team Industrial Services Europe B.V. as pledgor and Quality Inspection Services B.V. as company; 

  
 18 

 (v) the deed of pledge of shares among the Agent as pledgee, A&M Beheer B.V. as pledgor
and Turbinate International B.V. as company; 
 (vi) the deed of pledge of shares among the Agent as pledgee, Team Industrial Services
Europe B.V. as pledgor and Team Valve Repair Services B.V. as company; 
 (vii) the deed of pledge of shares among the Agent as pledgee,
Quest Integrity EU Holdings B.V. as pledgor and A&M Beheer B.V. as company; 
 (viii) the deed of pledge of shares among the Agent as
pledgee, Quest Integrity Group, LLC as pledgor and Quest Integrity EU Holdings, B.V. as company; 
 (ix) the deed of pledge of shares among
the Agent as pledgee, Quest Integrity NLD B.V. as pledgor and P3 Pullen Polyurethane Products B.V. as company; 
 (x) the deed of pledge of
shares among the Agent as pledgee, Team Industrial Services Netherlands B.V. as pledgor and Teaminc Europe B.V. as company; 
 (xi) the deed
of pledge of shares among the Agent as pledgee, Team Industrial Services Europe B.V. as pledgor and Furmanite B.V. as company; 
 (xii) the
deed of pledge of shares among the Agent as pledgee, Team Industrial Services International, Inc. as pledgor and Team Industrial Services Europe B.V. as company; and 

(xiii) the deed of pledge of shares among the Agent as pledgee, Team Industrial Services Europe B.V. as pledgor and Furmanite Holding B.V. as
company. 
 “Early Opt-in Election” means, if the then-current Benchmark is
USD LIBOR, the occurrence of the following on or after December 31, 2020: 
 (i) a notification by the Agent to (or the request by the
Borrower to the Agent to notify) each of the other parties hereto that at least five currently outstanding U.S. Dollar-denominated syndicated credit facilities in the U.S. syndicated loan market at such time contain (as a result of amendment or as
originally executed) a SOFR-based rate (including SOFR, a term SOFR or any other rate based upon SOFR) as a benchmark rate (and such syndicated credit facilities are identified in such notice and are publicly available for review), and 

(ii) the joint election by the Agent and the Borrower to trigger a fallback from USD LIBOR and the provision by the Agent of written notice of
such election to the Lenders. 
 “EBITDA” means, for any period, with respect to the Borrower and its Subsidiaries
on a consolidated basis in accordance with GAAP, Net Income for such period, 

  
 19 

 (i) plus in each case, to the extent deducted in determining Net Income for
such period: 
 (A) the amount of depreciation and amortization of fixed and intangible assets during such period,
plus 
 (B) all Interest Expense and all fees for the use of money or the availability of money, including
commitment, facility and like fees and charges upon Indebtedness (including Indebtedness to Agent or Lenders) paid or payable during such period, without duplication, plus 

(C) net Tax Expense paid or accrued during such period, without duplication, plus 

(D) the amount of all stock based compensation during such period, plus 

(E) the amount of all unusual or non-recurring charges or expenses during such period
(not to exceed in the aggregate with clause (i)(L) below $10,000,000 for any such period without giving effect to this clause (i)(E) or clause (i)(L)), plus 

(F) the amount of out-of-pocket expenses
incurred during such period and prior to or 180 days after the Closing Date in connection with this Agreement, the Loan Documents, the ABL Loan Documents and the repurchase of the 2017 Senior Convertible Notes in an aggregate amount not to exceed
$5,000,000, plus 
 (G) financing fees, financial and other advisory fees, accounting fees, legal fees (and
similar advisory and consulting fees), and related costs and expenses incurred during such period by the Borrower or any Subsidiary in connection with Permitted Acquisitions and asset sales permitted by Section 8.5 (whether or not
consummated) (not to exceed with respect to any such transaction, $2,500,000), plus 
 (H) any loss in
connection with any disposition of assets during such period, plus 
 (I)
non-cash adjustments during such period for currency exchanges in accordance with GAAP, plus 

(J) non-cash losses from foreign exchange conversions and mark-to-market adjustments to foreign exchange hedge agreements (or other derivatives) during such period, plus 

(K) the aggregate amount of all non-cash charges, expenses, fees or losses during such
period, plus 
 (L) business optimization expenses and other restructuring charges or reserves (which, for the
avoidance of doubt, shall include the effect of inventory optimization programs, facility, district, office or business unit closures, facility, district, office or business unit consolidations, retention, severance, systems establishment costs,
contract termination costs, future lease commitments and excess pension charges) (not to exceed 

  
 20 

 in the aggregate with clause (i)(E) above $10,000,000 for any such period
without giving effect to this clause (i)(L) or clause (i)(E)). 
 (ii) less in each case, to the
extent included in determining Net Income for such period: 
 (A) the amount of all
non-recurring gains during such period, less 
 (B) any gain in
connection with any disposition of assets, less 
 (C) non-cash
positive adjustments for currency exchanges in accordance with GAAP, less 
 (D)
non-cash gains from foreign exchange conversions and mark-to-market adjustments to foreign exchange hedge agreements (or other
derivatives), less 
 (E) the aggregate amount of non-cash gains during
such period. 
 Notwithstanding anything to the contrary contained herein, (1) EBITDA for the fiscal quarter ended on December 31, 2019 shall be
deemed to be $22,915,000, (2) EBITDA for the fiscal quarter ended on March 31, 2020 shall be deemed to be ($3,599,000), (3) EBITDA for the fiscal quarter ended June 30, 2020 shall be deemed to be $13,461,000, (4) EBITDA for the fiscal
quarter ended September 30, 2020 shall be deemed to be $19,163,000 and (5) EBITDA for the fiscal quarter ended on December 31, 2020 shall be deemed to be $22,000,000. 

“EEA Financial Institution” means (i) any credit institution or investment firm established in any EEA Member
Country which is subject to the supervision of an EEA Resolution Authority, (ii) any entity established in an EEA Member Country which is a parent of an institution described in clause (i) of this definition, or
(iii) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (i) or (ii) 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. 

“Eligible Assignee” means any 

(i) a Lender or any Affiliate thereof; or 

(ii) any other Person; 
 provided,
that 

  
 21 

 (A) none of any owner of Equity Interests of a Loan Party, any Loan Party or any of their
respective Affiliates shall qualify as an Eligible Assignee, 
 (B) a natural person shall not qualify as an Eligible Assignee, 

(C) each Eligible Assignee under clauses (ii) hereof shall be reasonably acceptable to and subject to the consent of Agent (not to
be unreasonably withheld), 
 (D) nothing herein shall restrict or require the consent of any Person to the pledge by any Lender of all or
any portion of its rights and interests under this Agreement or any other Loan Document to any Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the Federal Reserve System or U.S. Treasury Regulation 31 CFR 203.14,
and such Federal Reserve Bank may enforce such pledge in any manner permitted by applicable law, and 
 (E) a Disqualified Institution shall
not qualify as an Eligible Assignee. 
 “English Security Documents” means: (i) the English law governed
debenture to be made between the UK Loan Parties as chargors and the Agent (the “English Debenture”); (ii) the English law governed share charge and subordinated debt assignment to be made between each Loan Party which is the
holder of the shares in the UK Loan Parties (other than UK Loan Parties which are already party to the English Debenture as chargors) in favor of the Agent (the “English Share Charge”) and (iii) each other agreement,
deed, instrument or document executed by any Loan Party governed by English law which provides for a Lien in favor of the Agent as security for any of the Obligations, in each case in form and substance satisfactory to the Agent. 

“Entity” for each Loan Party (other than an individual), means its status, as applicable, as a corporation, limited
liability company or limited partnership. 
 “Environment” means ambient air, indoor air, surface water (including
potable waters, navigable waters and wetlands), groundwater, surface and subsurface strata, natural resources, wildlife, plant life, biota, and the work place or as otherwise defined in Environmental Laws. 

“Environmental Action” means any summons, citation, notice of investigation or judicial or administrative proceeding,
action, suit, abatement order or other order, judgment, decree or directive (conditional or otherwise) from any Governmental Authority, or any written notice of violation, complaint, claim, or other demand from any Person arising (i) pursuant
to Environmental Laws, (ii) in connection with any actual or alleged violation of, or liability pursuant to, Environmental Laws, including any Permits issued pursuant to Environmental Laws, (iii) in connection with any Hazardous Materials,
including the presence or Release of, or exposure to, any Hazardous Materials and any abatement, removal, remedial, corrective or other response action related to Hazardous Materials, or (iv) in connection with any actual or alleged damage,
injury, threat or harm to health, safety or the Environment. 
 “Environmental Laws” means all federal, state,
provincial and local statutes, laws (including common laws), rulings, regulations, ordinances, codes, legally binding and enforceable policies or guidelines or governmental, administrative or judicial directives, judgments, orders or interpretations
of any of the foregoing now or hereafter in effect relating to pollution or protection of human health or the Environment including laws and regulations 

  
 22 

 relating to emissions, discharges, Releases or threatened Releases of Hazardous Materials, or otherwise
relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of or exposure to any 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, feasibility study, removal, remediation or post remediation monitoring or action), fines, penalties, sanctions, and interest
incurred as a result of any Environmental Action. 
 “Environmental Lien” means any Lien in favor of any
Governmental Authority for Environmental Liabilities. 
 “Equity Interests” means (i) in the case of a
corporation, its capital stock, (ii) in the case of a limited liability company, its membership interests, and (iii) in the case of a limited partnership, its general and limited partnership interests, including in each case, all of the
following rights relating to such Equity Interests, whether arising under the Governing Documents of the Entity issuing such Equity Interests or under any applicable law of such Entity’s jurisdiction of organization or formation: (x) all
economic rights (including all rights to receive dividends and distributions) relating to such Equity Interests; (y) all voting rights and rights to consent to any particular actions by the applicable issuer; and (z) all management rights
with respect to such issuer, but, in each case, excluding any debt security convertible into, or exchangeable for, Equity Interests. 

“ERISA” means the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1000 et seq.,
amendments thereto, successor statutes, and regulations or guidelines promulgated thereunder. 
 “ERISA Affiliate”
means any entity that, together with a Loan Party is required to be treated as a single employer under Section 414(b), (c), (m) or (o) of the Code, or under Section 4001(a)(14) of ERISA. Any former ERISA Affiliate of any Loan Party
shall continue to be considered an ERISA Affiliate of such Loan Party for purposes of this definition with respect to the period such entity was an ERISA Affiliate of such Loan Party and with respect to liabilities arising after such period for
which such Loan Party would be liable under the Code or ERISA. 
 “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. 

“Event of Default” means the occurrence of any of the events specified in Section 10.1. 

“Excess” has the meaning specified in Section 2.16(d). 

“Excess Availability” means “Excess Availability” (as defined in the ABL Credit Agreement). 

  
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 “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 “Excluded Property” means: 

(i) Voting Interests of any CFC (other than a Protected CFC) held by any Loan Party, except to the extent that such Voting Interests represent
no more than 65% of the Voting Interests and 100% of all other interests of a first tier CFC (other than a Protected CFC); 
 (ii) any 

(x) rights or interest in any contract, lease, permit, license, franchise, charter, authorization or license agreement covering
real or personal property of any Loan Party (including any governmental licenses or approvals and state or local franchises, charters and authorizations, to the extent a security interest in any such license, approval, franchises, charters, or
authorizations are prohibited or restricted thereby) and 
 (y) equipment owned by any Loan Party that is subject to a
purchase money lien or a capital lease obligation if (but only to the extent that and only for so long as such purchase money Indebtedness or capital lease restricts the granting of a Lien therein to Agent) 

the grant of a security interest therein would constitute a violation of a valid and enforceable restriction in favor of a third party if under the terms of
such contract, lease, permit, license, franchise, charter, authorization or license agreement, or applicable law with respect thereto, the grant of a security interest or lien therein is prohibited as a matter of law or under the terms of such
contract, lease, permit, license, franchise, charter, authorization or license agreement and such prohibition or restriction has not been waived or the consent of the other party to such contract, lease, permit, license, franchise, charter,
authorization or license agreement has not been obtained (provided, that 
 (A) the foregoing exclusions of
this clause (ii) shall in no way be construed 
 (1) to apply to the extent that any described prohibition
or restriction is ineffective under Section 9-406, 9-407, 9-408, or 9-409 of the UCC
(or any successor provision or provisions) or other applicable law, or 
 (2) to apply to the extent that any consent or
waiver has been obtained that would permit Agent’s security interest or lien to attach notwithstanding the prohibition or restriction on the pledge of such contract, lease, permit, license, franchise, charter, authorization or license agreement
and 
 (B) the foregoing exclusions of clauses (i) and (ii) shall in no way be construed to
limit, impair, or otherwise affect any of Agent’s or any Lender’s continuing security interests in and liens upon any rights or interests of any Loan Party in or to 

  
 24 

 (1) monies due or to become due under or in connection with any described
contract, lease, permit, license, franchise, charter, authorization, license agreement, or Equity Interests (including any Receivables or Equity Interests), or 

(2) any proceeds from the sale, license, lease, or other dispositions of any such contract, lease, permit, license, franchise,
charter, authorization, license agreement, or Equity Interests); 
 (iii) any United States intent-to-use Trademark applications to the extent that, and solely during the period in which, the grant of a security interest therein would impair the validity or enforceability of such intent-to-use Trademark applications or any registrations issuing therefrom under applicable federal law; provided, that upon submission and acceptance by the
United States Patent and Trademark Office of a statement of use or an amendment to allege use, such intent-to-use Trademark application shall be considered Collateral;

 (iv) all leasehold Real Property interests; 

(v) fee simple Real Property interests located outside of the United States (other than in the United Kingdom if perfected by means of a
floating charge); 
 (vi) fee simple Real Property interests located in the United States having a fair market value (as determined in good
faith by Borrower) less than $2,500,000 on a per-property basis, and any fee-owned Real Property that is subject to a Permitted Lien of the type described in
clause (v)(B) of the definition thereof (to the extent the documents creating such Permitted Lien prohibits junior liens); 

(vii) to the extent subject to certificates of title (or the local law equivalent), motor vehicles and other assets subject to certificates of
title or any rolling stock; 
 (viii) [reserved]; 

(ix) [reserved]; 
 (x) any
demand deposit account, securities account, commodity account or other deposit account of any Loan Party that (A) is used solely and exclusively for payroll, payroll taxes, and other employee wage and benefit payments to or for any Loan
Party’s employees or (B) held as cash collateral to secure Indebtedness permitted by Section 8.1(j)(ii) (but only to the extent that and only for so long as that the determination with respect to such Indebtedness
restricts the granting of a Lien therein to Agent); 
 (xi) any asset in circumstances where the cost of obtaining a security interest
therein, including the cost of title insurance, surveys or flood insurance (if necessary) would be excessive in light of the practical benefit to the Lenders afforded thereby as reasonably determined by the Agent; and 

(xii) the last day of the term of any lease, sublease or agreement to sublease now held or subsequently acquired by any of the Loan Parties
which is organized under the laws of Canada or any province or territory therein (it being understood and agreed that the Loan Parties shall stand possessed of such last day in trust for the assignment and disposal of it as the Agent may direct).

  
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 “Excluded Swap Obligation” means any obligation of any Loan Party to
pay or perform under any Swap Obligation if, and to the extent that, all or a portion of the guaranty of such Loan Party (including by virtue of the joint and several liability provisions of Section 12.11) of, or the grant by such Loan Party
of a security interest to secure, such Swap Obligation (or any guaranty 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 the Loan Party’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time such guaranty or
the grant of such security interest becomes effective with respect to such Swap Obligation (after giving effect to Section 12.29). 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 guaranty or security interest is or becomes illegal. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld
or deducted from a payment to a Recipient, 
 (i) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and
branch profits Taxes, in each case, (A) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing
such Tax (or any political subdivision thereof) or (B) that are Other Connection Taxes, 
 (ii) in the case of a Lender, U.S. federal
withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (A) such Lender acquires such interest in the Loan
or Commitment (other than pursuant to an assignment request by Borrower under Section 2.11) or (B) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 4.11, amounts with
respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office, 

(iii) Taxes attributable to such Recipient’s failure to comply with Section 4.11(g), and 

(iv) any U.S. federal withholding Taxes imposed under FATCA. 

“Existing Credit Agreement” means that certain Ninth Amendment to Third Amended and Restated Credit Agreement, dated
as of June 17, 2020 (as amended, supplemented or otherwise modified from time to time prior to the date hereof), by and among the Borrower, the guarantors and lenders party thereto, and Bank of America, N.A., as administrative agent. 

“FATCA” mean Sections 1471 and 1474 of the Code, as of the date of this Agreement (or any amended or successor version
that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, and any agreements entered into pursuant to Section 1471(b)(1) of the Code, and any fiscal
or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code. 

  
 26 

 “Federal Funds Rate” means, for any day, the fluctuating interest
rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System, as published for such day (or, if such day is not a Business Day, for the next preceding
Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day on such transactions received by Agent from three federal funds brokers of
recognized standing selected by it, as determined in good faith by Agent. 
 “Federal Reserve Board” means the Board
of Governors of the Federal Reserve System or any Person succeeding to the functions thereof. 
 “Financial
Covenant” means the covenant set forth in Article VIII. 
 “Financial Statements” means, with
respect to the Borrower and its Subsidiaries, the consolidated balance sheets, consolidated profit and loss statements and statements of cash flow of the Borrower and its Subsidiaries for the period specified, prepared in accordance with GAAP and
consistent with prior practices and, except in the case of annual audited Financial Statements, a comparison in reasonable detail to (i) the projected balance sheets, profit and loss statements and statements of cash flow set forth in the
Business Plan for the same year-to-date and month periods and (ii) the balance sheets, profit and loss statements and statements of cash flow for the same year-to-date and month periods of the immediately preceding year. 

“Financial Support Directions” means a financial support direction issued by the Pensions Regulator under section 43
of the Pensions Act 2004. 
 “Flood Hazard Property” means any Real Property with respect to which a Mortgage is
granted that is in an area designated by the Federal Emergency Management Agency as having special flood or mudslide hazards. 

“Floor” means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this
Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to USD LIBOR. 
 “Foreign
Lender” means a Lender that is not a U.S. Person. 
 “Foreign Plan” has the meaning specified in
Section 7.13. 
 “Foreign Subsidiary” means, subject to the proviso included in the definition of the
term “CFC”, any direct or indirect subsidiary of any Loan Party that is organized under the laws of any jurisdiction other than the United States, any State thereof or the District of Columbia. 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board that are applicable to the circumstances as of the date of determination. 

  
 27 

 “Governing Body” means (i) in the case of a corporation (or a
limited liability company incorporated in the United Kingdom), its board of directors and/or shareholders (as the case may be), (ii) in the case of a limited liability company, its managers or members, and (iii) in the case of a limited
partnership, its general partner(s), or in each case, another comparable governing body of the applicable Entity. 
 “Governing
Documents” means 
 (i) in the case of a corporation, its articles (or certificate) of incorporation and bylaws, 

(ii) in the case of a limited liability company, its articles (or certificate) of organization (or formation) and its operating agreement,

 (iii) in the case of a limited partnership, its articles (or certificate) of limited partnership and its limited partnership agreement,
or in each case, another comparable governing document of the applicable Entity, 
 (iv) in the case of a limited liability company
incorporated in the United Kingdom, its articles of association and memorandum (as the case may be) and its certificate of incorporation and any certificate of incorporation on a change of name, and 

(v) in relation to any Dutch Loan Party in each case including its deed of incorporation (oprichtingsakte), articles of association
(statuten) and an extract (uittreksel) from the commercial register (handelsregister) of the Dutch Chamber of Commerce (Kamer van Koophandel). 

“Governmental Authority” means any nation or government, any state or other political subdivision thereof, or any
entity exercising executive, legislative, judicial, regulatory or administrative functions thereof or pertaining thereto. 

“Guarantors” means the Borrower and each other Person that guarantees, in whole or in part, the Obligations on the
Closing Date or at any time thereafter. 
 “Guaranty and Security Agreement” means a guaranty and security
agreement, dated as of even date with this Agreement, in form and substance reasonably satisfactory to Agent, executed and delivered by each of the Loan Parties to Agent. 

“Hazardous Materials” means any and all pollutants, contaminants and toxic, caustic, radioactive and hazardous
materials, substances and wastes including petroleum or petroleum distillates, urea formaldehyde foam insulation, asbestos or asbestos-containing materials, whether or not friable, polychlorinated biphenyls, radon gas, infectious or medical wastes
and all other substances or wastes of any nature, that are regulated under any Environmental Laws. 

  
 28 

 “Hedging Agreement” means any interest rate protection agreement,
foreign currency exchange agreement, commodity price protection agreement or other interest or currency exchange rate or commodity price hedging agreement. The term “Hedging Agreement,” as used herein, shall extend to and
include any Swap Obligation. 
 “Highest Lawful Rate” has the meaning specified in Section 12.10.

 “Historical Financials” has the meaning specified in Section 5.1(a)(xiii). 

“Incremental Term Loans” has the meaning specified in Section 2.16(a). 

“Indebtedness” means, with respect to any Person, as of the date of determination thereof (without duplication of the
same obligation under any other clause hereof), 
 (i) all obligations of such Person for borrowed money of any kind or nature, including
funded and unfunded debt, 
 (ii) all monetary obligations of such Person owing under Hedging Agreements (which amount shall be calculated
based on the amount that would be payable by such Person if the Hedging Agreement were terminated on the date of determination), 
 (iii)
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) and any earn-out or similar obligations, 

(iv) all Capitalized Lease Obligations, 

(v) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right to be secured) a Lien on any
asset of such Person whether or not the Indebtedness is assumed by such Person, 
 (vi) all obligations of such Person created or arising
under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreements in the event of default are limited to repossession or
sale of such property), 
 (vii) any Disqualified Equity Interests, 

(viii) 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, and 
 (ix) 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 (i) through (viii) above. 

  
 29 

 For purposes of this definition, (A) 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 (B) 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 (1) if
applicable, the limited amount of such obligations, and (2) if applicable, the fair market value of such assets securing such obligation. 

“Indemnified Party” has the meaning specified in Section 12.4(a). 

“Indemnified Taxes” means (i) 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 (ii) to the extent not otherwise described in clause (i), Other Taxes. 

“Information” has the meaning specified in Section 12.21. 

“Initial Term Loan” means a Loan made to the Borrower on the Closing Date pursuant to Section 2.01(a).

 “Insolvency Event” means, with respect to any Person (other than any UK Loan Party in respect of clauses
(ii), (iii) or (vi) below), the occurrence of any of the following: 
 (i) such Person shall be
adjudicated insolvent or bankrupt, institutes or, in the case of a Canadian Guarantor, consents, to the institution of proceedings under any Debtor Relief Laws or shall generally fail to pay or admit in writing its inability to pay its debts as they
become due, 
 (ii) such Person shall seek reorganization or the appointment of a receiver, interim receiver, receiver and manager, trustee,
monitor custodian, administrator, administrative receiver, compulsory manager, liquidator or similar officer for it or a substantial portion of its property, assets or business or to effect a plan or other arrangement with its creditors, 

(iii) such Person shall make a general assignment for the benefit of its creditors, or consent to or acquiesce in the appointment of a
receiver, interim receiver, receiver and manager, trustee, monitor, custodian administrator, administrative receiver, compulsory manager, liquidator or similar officer for a substantial portion of its property, assets or business, 

(iv) such Person shall file a voluntary petition under, or shall seek the entry of an order for relief under any Debtor Relief Laws, 

(v) such Person shall take any corporate, limited liability company, partnership or similar act, as applicable, in furtherance of any of the
foregoing, or 
 (vi) such Person, or a substantial portion of its property, assets or business, shall become the subject of an involuntary
proceeding or petition for 

  
 30 

 (A) its dissolution, the suspension of payments, a moratorium of any
indebtedness, winding-up, administration, or reorganization (by way of voluntary arrangement scheme or arrangement or otherwise) or 

(B) the appointment of a receiver, interim receiver, receiver and manager, trustee, monitor, custodian, liquidator,
administrator for it or restructuring official (herstructureringsdeskundige) for all or any material part of its property and (I) such proceeding shall not be dismissed or stayed within sixty (60) days or (II) such receiver,
interim receiver, receiver and manager, trustee, monitor, custodian, liquidator, administrator or restructuring official (herstructureringsdeskundige) shall be appointed; provided, however, that the Lenders shall
have no obligation to make any Loans during the pendency of any sixty-(60) day period described in this definition, or 
 (C)
any proceeding under any Debtor Relief Law relating to a Canadian Guarantor or any material part of its property is instituted and such proceeding shall not be dismissed or stayed within 60 (days); provided, however, that the Lenders
shall have no obligation to make any Loans during the pendency of any sixty-(60) day period described in this definition. 
 and in respect
of any UK Loan Parties, means any corporate action, legal proceedings or other procedure or step is taken in relation to: (1) the suspension of payments, a moratorium of any indebtedness, winding-up,
dissolution, administration or reorganization (by way of voluntary arrangement, scheme of arrangement or otherwise) of that UK Loan Party; (2) by reason of actual or anticipated financial difficulties, a composition, compromise, assignment or
arrangement with or for the benefit of any creditor of that UK Loan Party; (3) the appointment of a liquidator, receiver, administrative receiver, administrator, compulsory manager or other similar officer in respect of that UK Loan Party or a
substantial portion of its assets; or (4) enforcement of any Liens over a substantial portion of the assets of that UK Loan Party, or any procedure or step with analogous effect is taken in any jurisdiction and/or any expropriation, attachment,
sequestration, distress or execution (or any process with analogous effect) affects a substantial portion of the assets of a UK Loan Party (the proceedings and procedures set out in clause (1) to (4) above being the
“Insolvency Proceedings”; any winding-up petition which is frivolous or vexatious and is discharged, stayed or dismissed within fifteen (15) Business Days of commencement will not be deemed
Insolvency Proceedings). 
 “Intangible Assets” means assets that are considered to be intangible assets under GAAP,
including customer lists, goodwill, computer software, copyrights, trade names, trademarks, patents, franchises, licenses, unamortized deferred charges, unamortized debt discount and capitalized research and development costs. 

“Intellectual Property” means any and all Patents, Copyrights, Trademarks, trade secrets, know-how, inventions (whether or not patentable), algorithms, software programs (including source code and object code), processes, product designs, industrial designs, blueprints, drawings, data, customer lists,
URLs and domain names, specifications, documentations, reports, catalogs, literature, and any other forms of technology or proprietary information of any kind, including all rights therein and all applications for registration or registrations
thereof. 

  
 31 

 “Intercompany Subordination Agreement” means an intercompany
subordination agreement, dated as of even date with this Agreement, in form and substance satisfactory to Agent, executed and delivered by each Loan Party and each of its Subsidiaries, and Agent, as amended, restated, supplemented or otherwise
modified from time to time. 
 “Intercreditor Agreement” means that certain Intercreditor Agreement, dated as of
even date with this Agreement, between Agent and ABL Agent. 
 “Interest Expense” means, for any period, all
interest with respect to Indebtedness (including the interest component of Capitalized Lease Obligations) accrued or capitalized during such period (whether or not actually paid during such period) determined in accordance with GAAP. 

“Interest Payment Date” means 

(i) with respect to any Base Rate Advance, the first Business Day of each calendar month during any period in which such Advance is
outstanding, 
 (ii) with respect to any LIBOR Rate Advance, the last day of the Interest Period applicable to the Borrowing of which such
Advance is a part and, in the case of a LIBOR Rate Advance with an Interest Period of more than three (3) months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three (3) months’
duration after the first day of such Interest Period and
; provided
that any Interest Payment Date with respect to any LIBOR Rate Advance that is scheduled to
occur in accordance with this clause (ii) during the period commencing on October 18, 2021 and ending on
October 28, 2021 shall instead be deemed to occur on October 29, 2021; and 

(iii) with respect to any Loans, the Termination Date or such earlier date on which the Commitments are terminated. 

“Interest Period” means the period commencing on the date of a LIBOR Rate Advance and ending one (1), two (2), three
(3) or six (6) months thereafter (or, if available to all of the Lenders, twelve months or any shorter period in the Agent’s discretion), as selected by Borrower; provided, however, that 

(i) Borrower may not select any Interest Period that ends after the Termination Date; 

(ii) whenever the last day of an Interest Period would otherwise occur on a day other than a Business Day, the last day of such Interest
Period shall be extended to occur on the next succeeding Business Day, except that, if such extension would cause the last day of such Interest Period to occur in the next following calendar month, then the last day of such Interest Period shall
occur on the next preceding Business Day; and 
 (iii) any 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) shall end on the last Business Day of the calendar month at the end of such Interest Period. For purposes hereof, the date of a
Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 

  
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 “Interests” has the meaning specified in Section
8.9. 
 “Internal Revenue Service” or “IRS” means the United States Internal
Revenue Service and any successor agency. 
 “Investment” in any Person means, as of the date of determination, 

(i) any payment or contribution in or to such Person including property contributed to such Person for or in connection with its acquisition
of any stock, bonds, notes, indebtedness, debentures, partnership or other ownership interest or any other security of such Person, 
 (ii)
any payment or contribution for all or substantially all of the assets of such Person (or of any division or business line of such other Person) and 

(iii) any loan, advance or other extension of credit or guaranty of or other surety obligation for any Indebtedness made to, or for the
benefit of, such Person. 
 In determining the aggregate amount of Investments outstanding at any particular time, 

(A) a guaranty (or other surety obligation) shall be valued at not less than the principal outstanding amount of the primary obligation; 

(B) returns of capital (but only by repurchase, redemption, retirement, repayment, liquidating dividend or liquidating distribution) shall be
deducted; 
 (C) earnings, whether as dividends, interest or otherwise, shall not be deducted; and 

(D) decreases in the market value shall not be deducted unless such decreases are computed in accordance with GAAP. 

For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or
decreases in the value of such Investment. 
 “ISDA Definitions” means the 2006 ISDA Definitions published by the
International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International Swaps
and Derivatives Association, Inc. or such successor thereto. 
 “Joinder” means a joinder agreement substantially in
the form of Exhibit J-2 to this Agreement. 
 “Lender” and
“Lenders” have the respective meanings specified in the preamble to this Agreement. 

  
 33 

 “Lender Group Expenses” means all 

(i) [reserved], 
 (ii)
reasonable and documented out-of-pocket fees or charges paid or incurred by Agent in connection with transactions under any of the Loan Documents, 

(iii) Agent’s customary fees and charges imposed or incurred in connection with any background checks or OFAC/PEP searches related to any
Loan Party or its Subsidiaries performed in connection with the transactions contemplated under the Loan Documents, 
 (iv) [reserved], 

(v) reasonable and documented out-of-pocket costs and expenses
paid or incurred by 
 Agent and the Lenders, or any of them, to correct any default or enforce any provision of the Loan Documents, 

(vi) [reserved], 
 (vii)
Agent’s and the Lenders’ reasonable and documented costs and expenses (including reasonable 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 relationship of Agent and the Lenders, or any of them, with any Loan Party or
any of its Subsidiaries, 
 (viii) Agent’s reasonable and documented costs and expenses (including reasonable attorneys’ fees for
one primary counsel for the Agent, and, if reasonably necessary, one local counsel and one regulatory counsel in each relevant jurisdiction and due diligence expenses) incurred in advising, drafting, reviewing, administering, or amending, waiving,
or modifying the Loan Documents, and 
 (ix) Agent’s and each Lender’s reasonable and documented costs and expenses (including
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 Event concerning any Loan Party or any of its Subsidiaries or in exercising rights or remedies under the Loan
Documents or, after the Amendment
No. 1 Effective Date, in connection with Amendment No. 1 or otherwise. 

“LIBOR Index Rate” means a rate per annum equal to (a) the London interbank offered rate as administered by the
ICE Benchmark Administration Limited (or any other Person that takes over the administration of such rate) as displayed on the applicable Bloomberg screen page that displays such rate at 11:00 a.m. (London time), two (2) Business Days prior to
the commencement of such Interest Period, for deposits in Dollars (for delivery on the first day of such Interest Period) and with a term equivalent to such Interest Period, or (b) in the event the rate referenced in the preceding clause
(a) is not available, the rate per annum (rounded upwards to the nearest 1/100 of 1%) equal to the offered quotation rate by major banks in the London 
  

  
 34 

 interbank market quoted to the Agent for deposits in Dollars (for delivery on the Interest Rate
Determination Date), with a term equivalent to such Interest Period and in amounts in same day funds comparable to the principal amount of the applicable Loan for which the LIBOR Index Rate is then being determined as of approximately 11:00 a.m.
(London, England time) two Business Days commencement of such Interest Period; provided, that, if any LIBOR Index Rate as determined pursuant to this definition shall be less than 1.00%, the LIBOR Index Rate shall be deemed to be 1.00%
for purposes of this Agreement. If the Board of Governors of the Federal Reserve System (or any successor) imposes a LIBOR Reserve Percentage with respect to LIBOR deposits, then, the LIBOR Index Rate shall be the foregoing rate divided by 1 minus
the LIBOR Reserve Percentage. 
 “LIBOR Loans” means Loans the rate of interest applicable to which is based upon
the LIBOR Index Rate. 
 “LIBOR Rate Advance” means an Advance that bears interest as provided in Section
4.1(b). 
 “LIBOR Reserve Percentage” for any LIBOR Rate Advance, means the reserve percentage applicable during
a one (1) month interest period (or if more than one such percentage shall be so applicable, the daily average of such percentages for those days in such interest period during which any such percentage shall be so applicable) under regulations
issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to
liabilities or assets consisting of or including Eurocurrency liabilities having a term equal to such interest period. 

“Lien” means any lien, claim, charge, pledge, security interest, assignment, hypothecation, deed of trust, mortgage,
lease, conditional sale, retention of title, attachment or other preferential arrangement having substantially the same economic effect as any of the foregoing, whether voluntary or imposed by law. 

“Liquidity” means, at any time of determination, the sum of (a) unrestricted cash and Cash Equivalents of
Borrower and its Subsidiaries at such time (including, for the avoidance of doubt, any cash or Cash Equivalents subject to a Lien in favor of the Agent for the benefit of the Secured Parties) and (b) Excess Availability. 

“Loan Documents” means this Agreement, the Security Documents, the Intercompany Subordination Agreement, the
Intercreditor Agreement and any other documents and instruments entered into, now or in the future, by any Loan Party or any of its Subsidiaries under or in connection with this Agreement, as each of the same may be amended, restated, supplemented
or otherwise modified from time to time. 
 “Loan Party” means the Borrower and each Guarantor. 

“Loans” means the loans and financial accommodations made by the Lenders hereunder or under this Agreement, including
the Term Loans. 

  
 35 

 “Make-Whole Amount” means, as of any date of determination, an
amount equal to the present value, as determined in accordance with generally accepted financial practices at the date of such Applicable Premium Trigger Event, of 

(i) the aggregate amount of interest which would have otherwise been payable on the principal amount of the Loans paid on such date (or in the
case of an Applicable Premium Trigger Event specified in clauses (ii), (iii), or (iv) or (v)
of the definition thereof, the principal amount of the Term Loans outstanding on such date) from the date of the occurrence of the Applicable Premium Trigger Event until the applicable Make-Whole End Date (calculated based upon using an interest
rate equal to (x) the LIBOR Index Rate for an Interest Period of three months in effect on the third Business Day prior to such Applicable Premium Trigger Event plus (y) the Applicable Margin for LIBOR Loans), plus 

(ii) an amount equal to the Applicable Premium that would otherwise be payable, as if such Applicable Premium Trigger Event had occurred on
the day after the applicable Make-Whole End Date 
 in each case, discounted to the date of such Applicable Premium Trigger Event on a quarterly basis
assuming a 360-day year and actual days elapsed at a rate equal to the Treasury Rate plus 0.50%. 

“Make-Whole End Date” means 

(i) in the case of a Corporate Change of Control Trigger Event, the first anniversary of the Closing Date and 

otherwise, the second anniversary of the Closing Date. 

“Material Adverse Effect” means (i) a material adverse effect on the business, operations, results of operations,
assets, liabilities, or financial condition of the Loan Parties, taken as a whole or (ii) the material impairment of (A) the Loan Parties’ ability to perform their payment or other material obligations under the Loan Documents to
which they are a party or (B) the ability of Agent or the Lenders to enforce the Obligations or realize upon the Collateral, or (iii) a material adverse effect upon the enforceability or priority of Agent’s Liens with respect to all
or a material portion of the Collateral other than any material impairment caused by any action or inaction of Agent. 

“Material Contract” means any agreement or arrangement to which a Loan Party is party (other than the Loan
Documents) (i) for which breach, termination, nonperformance or failure to renew could reasonably be expected to have a Material Adverse Effect; or (ii) that relates to Material Indebtedness. 

“Material Indebtedness” means (a) the ABL Obligations and (b) any other Indebtedness (other than the Loans),
or obligations in respect of one or more Hedging Agreements in an aggregate principal amount exceeding $12,500,000. For purposes of this definition, the “principal amount” of the obligations of any Loan Party in respect of any Hedging
Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that such Loan Party would be required to pay if such Hedging Agreement were terminated at such time. 

  
 36 

 “Material Subsidiary” means, at any date of determination 

(i) the Borrower; and 
 (ii) each Subsidiary of the Borrower
that, as of the end of the most recently ended fiscal year for which Financial Statements are required to be delivered pursuant to Section 7.11, (A) owns at least 5.0% of the consolidated total assets of the Loan Parties
and their Subsidiaries as of such date, (B) generated at least 5.0% of the consolidated revenues of the Loan Parties and their Subsidiaries during such fiscal year or (C) is part of any group comprising Subsidiaries of the Borrower that
each would not have been a Material Subsidiary under clauses (A) or (B) but that, taken together, had revenues or total assets in excess of 7.5% of the consolidated revenues for any fiscal year or total assets as of such date, as applicable, of
the Loan Parties and their Subsidiaries. 
 “Maturity Trigger Date” means the date that is 120 days prior to the
maturity date of the 2017 Convertible Notes. 
 “Maximum Accrual” has the meaning specified in Section
2.5(c). 
 “Mortgage” means each mortgage, deed of trust or security deed between the applicable Loan Party
and Agent, in form and substance reasonably satisfactory to Agent, relating to the Real Property covered thereby, as amended, restated, supplemented or otherwise modified from time to time. 

“Mortgaged Property” means any owned Real Property listed on Schedule 7.21 and, thereafter, shall
include each other Real Property with respect to which a Mortgage is granted, so long as such Real Property does not constitute Excluded Property. 

“Multiemployer Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which Borrower or
any ERISA Affiliate has contributed within the past six years or with respect to which Borrower or any ERISA Affiliate has any liability, whether fixed or contingent, excluding any Canadian Registered Pension Plan. 

“Net Cash Proceeds” means 

(i) with respect to any Asset Disposition by any Loan Party or any of its Subsidiaries, or any Casualty Event, the excess, if any, of 

(A) the sum of cash and Cash Equivalents received in connection with such transaction (including any cash or Cash Equivalents
received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) over 

(B) the sum of 

  
 37 

 (I) the principal amount of any Indebtedness that is secured by the
applicable asset and that is required to be repaid in connection with such transaction (other than Indebtedness under the Loan Documents), 

(II) in respect of an Asset Sale, any bona fide direct costs incurred in connection with such Asset Disposition, including 

(1) income or gains taxes payable by the seller as a result of any gain recognized in connection with such Asset Disposition,

 (2) payment of the outstanding principal amount of, premium or penalty, if any, and interest on any Indebtedness (other
than the Loans) that, in the case of a Loan Party, is secured by a Lien on the stock or assets in question and that is required to be repaid under the terms thereof as a result of such Asset Disposition, 

(3) a reasonable reserve for any indemnification payments (fixed or contingent) attributable to seller’s indemnities and
representations and warranties to purchaser in respect of such Asset Disposition undertaken by the Borrower or any of its Subsidiaries in connection with such Asset Disposition or for any other liabilities retained by the Borrower or any of its
Subsidiaries associated with such Asset Disposition, 
 (4) bona fide selling fees, costs, commissions and expenses
(including reasonable brokers’ fees or commissions, legal, accounting and other professional and transactional fees, transfer and similar taxes) and 

(5) the Borrower’s good faith estimate of payments required to be made with respect to unassumed liabilities relating to
the properties sold within 180 days of such Asset Disposition; provided that, to the extent such cash proceeds are not used to make payments in respect of such unassumed liabilities within 180 days of such Asset Disposition, such Cash
proceeds shall constitute Net Cash Proceeds; 
 (III) in respect of a Casualty Event, 

(1) any actual and reasonable costs incurred by the Borrower or any of its Subsidiaries in connection with the collection,
adjustment or settlement of any claims of the Borrower or such Subsidiary in respect thereof, and 
 (2) any bona fide
direct costs incurred in connection with any sale of such assets as a result of a taking or condemnation or otherwise, including income taxes paid or payable as a result of any gain recognized in connection therewith and the costs and expenses
incurred in connection with the preparation of assets for transfer upon a taking or condemnation, and 

  
 38 

 (ii) with respect to any Prohibited Debt Issuance, the excess of (i) the sum of the
cash and Cash Equivalents received by the Borrower or any Material Subsidiary in connection with such issuance over (ii) reasonable underwriting discounts and commissions, and other reasonable and customary out-of-pocket expenses, incurred by the Borrower or such Subsidiary in connection therewith. 

“Net Income” means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, the net income of
the Borrower and its Subsidiaries (excluding extraordinary gains and extraordinary losses) for that period, determined in accordance with GAAP. 

“Net Leverage Ratio” means, as of any date of determination, for the Borrower and its Subsidiaries on a consolidated
basis, the ratio of 
 (i) Consolidated Funded Indebtedness as of such date minus unrestricted cash of the Loan Parties in an aggregate
amount up to $30,000,000 (provided such unrestricted cash is free and clear of all Liens other than the Liens securing the Obligations hereunder and the ABL Obligations or Liens arising in the ordinary course of business by virtue of
rights of setoff or similar rights and remedies as to deposit accounts and such cash does not Collateralize (as defined in the ABL Credit Agreement as of the date hereof) any letters of credit or Bank Product Obligations) to 

(ii) EBITDA for the period of four consecutive Fiscal Quarters ending on such date. 

“Non-Consenting Lender” means any Lender that does not approve any consent,
waiver or amendment that (i) requires the approval of all or all affected Lenders in accordance with the terms of Section 12.7 and (ii) has been approved by the Required Lenders. 

“Notice of Borrowing” has the meaning specified in Section 2.3(a). 

“Notice of Conversion” has the meaning specified in Section 2.3(c). 

“Obligations” means and includes all loans (including the Loans), advances, debts, liabilities, obligations, covenants
and duties owing by the Loan Parties to Agent, the Lenders, or any of them, or any of their respective Affiliates, of any kind or nature, present or future, whether or not evidenced by any note, guaranty or other instrument, which may arise under,
out of, or in connection with, this Agreement, the other Loan Documents (including the guaranty contained in the Guaranty and Security Agreement) or any other agreement executed in connection herewith or therewith. The term “Obligations”
includes all interest, charges, Applicable Premium, Lender Group Expenses, commitment, facility, closing and collateral management fees, letter of credit fees, cash management and other fees, interest, charges, expenses, fees, attorneys’ fees
and disbursements, and any other sum chargeable to any of the Loan Parties under this Agreement or the other Loan Documents (including, in each case, any such amounts accruing on or after an Insolvency Event, whether or not such amounts are allowed
or allowable following such Insolvency Event). Notwithstanding the foregoing, the term “Obligations” shall not include any Excluded Swap Obligations. 

  
 39 

 “OFAC” means the Office of Foreign Assets Control of the U.S.
Department of Treasury. 
 “Operating Account” means a deposit account of Borrower that Borrower designates in
writing to Agent on the Closing Date as Borrower’s “operating account” for purposes hereof in regard to the receipt and distribution of the proceeds any Borrowings, or such other deposit account of Borrower as Borrower may from time
to time subsequent to the Closing Date so designate in writing to Agent as such account. 
 “Other Connection Taxes”
means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a
party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan
Document). 
 “Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing,
sales, value added or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any
Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.10 or Section 2.11). 

“Participant” has the meaning specified in Section 12.7(f). 

“Participant Register” has the meaning specified in Section 12.17. 

“Patent Security Agreement” means a patent security agreement, in form and substance reasonably satisfactory to Agent,
pursuant to which each Loan Party that has rights in any Patents shall grant a specific security interest in its Patents as security for the Obligations, as amended, restated, supplemented or otherwise modified from time to time. 

“Patents” means patents and patent applications, including (i) all continuations, divisionals, continuations-in-part, re-examinations, reissues, and renewals thereof and improvements thereon, (ii) all income, royalties,
damages and payments now and hereafter due or payable under and with respect thereto, including payments under all licenses entered into in connection therewith and damages and payments for past, present, or future infringements thereof,
(iii) the right to sue for past, present, and future infringements thereof, and (iv) all rights corresponding thereto throughout the world. 

“Patriot Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001 (Title II of Pub. L. No. 107-56 (signed into law October 26, 2001). 

  
 40 

 “Payment in Full” or “Paid in Full” (or
words of similar import) means with respect to any Obligations, 
 (i) the payment or repayment in full in cash of all Obligations (other
than contingent indemnification obligations as to which no claim has been asserted) and 
 (ii) all Commitments related to such Obligations
have expired or been terminated. 
 “PBGC” means the Pension Benefit Guaranty Corporation and any Person succeeding
to the functions thereof. 
 “Pension Plan” means a pension plan (as defined in Section 3(2) of ERISA) subject
to Title IV of ERISA (other than a Multiemployer Plan) which a Borrower or any ERISA Affiliate sponsors or maintains, under which a Borrower or any ERISA Affiliate has any liability, whether fixed or contingent, or to which it is making or is
obligated to make contributions, or, in the case of a multiple employer plan (as described in Section 4063 or 4064(a) of ERISA), has made contributions at any time during the immediately preceding six (6) plan years. For the avoidance of
doubt, any Canadian Registered Pension Plan shall not be considered a Pension Plan for purposes of this Agreement. 
 “Pensions
Regulator” means the body corporate called the Pensions Regular established under part 1 of the Pensions Act 2004. 

“Permits” means, in respect of any Person, all licenses, permits, franchises, consents, rights, privileges,
certificates, authorizations, approvals, registrations and similar consents granted or issued by any Governmental Authority to which or by which such Person is bound. 

“Permitted Acquisition” means any Acquisition so long as 

(i) no Event of Default shall have occurred and be continuing or would result from the consummation of the proposed Acquisition and the
proposed Acquisition is non-hostile, 
 (ii) the subject assets or Equity Interests are being
acquired directly by a Loan Party and the applicable Loan Party shall have complied with Section 7.20, 
 (iii) Borrower has
provided Agent with written notice of the proposed Acquisition at least ten (10) Business Days prior to the anticipated closing date of the proposed Acquisition and, not later than five (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, and 

(iv) with respect to any Acquisition with a purchase price over $20,000,000, Borrowers have provided Agent with their 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 one-year period following the date of the proposed Acquisition, on a month-to-month basis), in form (including as to scope) and containing underlying assumptions reasonably satisfactory to Agent, and 

  
 41 

 (v) Permitted Acquisitions of entities that are not Loan Parties shall not exceed at any
time an aggregate amount equal to $10,000,000. 
 “Permitted Hedging Agreement” means a Hedging Agreement made by a
Loan Party or its Subsidiary in the ordinary course of its business in accordance with the reasonable requirements of its business, and not for speculative purposes, and in any such case, if the counterparty to such Permitted Hedging Agreement is
not a Lender or an Affiliate of a Lender, such Permitted Hedging Agreement shall be unsecured (except for Permitted Liens of the type described in clause (xii) of the definition thereof). 

“Permitted Intercompany Advances” means loans or advances made by 

(i) a Loan Party to another Loan Party, 

(ii) a Subsidiary of a Loan Party that is not a Loan Party to another Subsidiary of a Loan Party that is not a Loan Party, 

(iii) a Subsidiary of a Loan Party that is not a Loan Party to a Loan Party, so long as the parties thereto are party to the Intercompany
Subordination Agreement, and 
 (iv)
, a Loan Party to a Subsidiary of a Loan Party that is not a Loan
Party so long as the aggregate principal amount outstanding at any time of such advance (when combined with any Investment made pursuant to Sections 8.10(k)(ii) and (n)) does not exceed $20,000,000 at any time (and, prior to the Catch Up Interest Payment Date, solely in the ordinary course of business and consistent with past
practices). 
 “Permitted Investments” has the meaning
specified in Section 8.10. 
 “Permitted Liens” means the following: 

(i) Liens created hereunder and by the Security Documents; 

(ii) Liens securing Indebtedness permitted by Section 8.1(c); provided that (A) such Liens
shall be created substantially simultaneously with the acquisition of such assets or within 90 days after the acquisition or the completion of the construction or improvements thereof, (B) such Liens do not at any time encumber any assets other
than the assets financed by such Indebtedness, and (C) the principal amount of Indebtedness secured by any such Lien shall at no time exceed the cost of acquiring, constructing or improving such assets; 

(iii) Liens on any property or asset of Borrower or its Subsidiaries existing on the Closing Date and set forth on Schedule 8.8
and any Lien granted as a replacement or substitute therefor; provided that any such replacement or substitute Lien (A) does not secure an aggregate principal amount of Indebtedness, if any, greater than that secured on the
Closing Date and (B) does not encumber any property in any material manner other than the property that secured such original Indebtedness (or would have been required to secure such original Indebtedness pursuant to the terms thereof); 

  
 42 

 (iv) Liens assumed by any Loan Party or its Subsidiaries in connection with a Permitted
Acquisition that secure Acquired Indebtedness permitted under Section 8.1(i); provided that (A) such Lien is not created in contemplation of or in connection with such acquisition and (B) such Lien shall not
apply to or cover any other asset or property other than assets or property so acquired; 
 (v) Liens for taxes, assessments and other
governmental charges or levies not yet delinquent or that are being contested by a Borrower or the applicable Subsidiary in good faith by appropriate proceedings diligently conducted and for which adequate reserves are being maintained in accordance
with GAAP; 
 (vi) Liens imposed by law, including landlord’s, carriers’, warehousemen’s. mechanics’,
materialmen’s, repairmen’s, construction or other like Liens arising in the ordinary course of business securing obligations that are not overdue by more than thirty (30) days or that are being contested in good faith by appropriate
proceedings diligently conducted and for which adequate reserves are being maintained in accordance with GAAP; 
 (vii) deposits to secure
the performance of bids, trade contracts (other than for Indebtedness), leases (other than Capitalized Lease Obligations), statutory obligations, surety and appeal bonds, performance and return of money bonds, bids, leases, government contracts,
trade contracts, agreements with utilities, and other obligations of a like nature (including letters of credit in lieu of any such bonds or to support the issuance thereof) incurred by a Borrower or any of its Subsidiaries in the ordinary course of
business, including those incurred to secure health, safety and environmental obligations in the ordinary course of business; 

(viii) (a) zoning restrictions, easements, encroachments, licenses, restrictions or covenants on the use of any Real Property which do
not materially impair either the use of such Real Property in the operation of the business of the applicable Borrower or its Subsidiaries or the value of such Real Property or (b) and any other permitted encumbrances described in the
Mortgages; 
 (ix) rights of general application reserved to or vested in any Governmental Authority to control or regulate any Real
Property, or to use any Real Property in a manner which does not materially impair the use of such Real Property for the purposes for which it is held by a Borrower or any of its Subsidiaries; 

(x) any interest or title of a lessor or sublessor under any leases or subleases entered into by a Borrower or any of its Subsidiaries in the
ordinary course of business; 
 (xi) (A) Liens on demand deposit account, securities account, commodity account or other deposit
account of any Loan Party held as cash collateral to secure Indebtedness permitted by Section 8.1(j)(ii) and (B) rights of set-off, banker’s lien, netting agreements and other
Liens arising by operation of law or by the terms of documents of banks or other financial institutions (including for the avoidance of doubt any general banking terms and conditions) in relation to the maintenance of administration of deposit
accounts, securities accounts, cash management arrangements or in connection with the issuance of letters of credit, bank guarantees or other similar instruments and so long as such Liens do not secure borrowed money; 

  
 43 

 (xii) Liens arising under the ABL Credit Agreement subject to the Intercreditor Agreement;

 (xiii) pledges or deposits in the ordinary course of business in connection with workers’ compensation, unemployment insurance and
other social security legislation, other than any Lien imposed by ERISA; 
 (xiv) Liens granted in the ordinary course of business on
insurance policies and the proceeds thereof securing any financing of the premiums with respect thereto permitted under the terms of this Agreement; 

(xv) Liens in favor of customs and revenue authorities arising as a matter of applicable law to secure payment of customs duties in connection
with the importation of goods; 
 (xvi) Liens arising by reason of deposits with or giving of any form of security to any Governmental
Authority as required by applicable law in the ordinary course of Borrower or any of its Subsidiaries as a condition to the transaction of any business or the exercise of any privilege or license; 

(xvii) Liens arising from precautionary UCC or PPSA financing statements that do not secure Indebtedness; 

(xviii) the reservations, limitations, provisos and conditions, if any, expressed in any original grant from the Crown of any real property or
any interest therein or in any comparable grant in jurisdictions other than Canada; 
 (xix) applicable municipal and other governmental
restrictions, including municipal by-laws and regulations, affecting the use of land or the nature of any structures which may be erected thereon; 

(xx) Liens on any cash earnest money deposits made by the Borrower in connection with any letter of intent or purchase agreement with respect
to a Permitted Acquisition; provided, that the aggregate amount of cash earnest money deposits and cash in any escrow accounts maintained in connection with Permitted Acquisitions shall not exceed $5,000,000 outstanding at any time;

 (xxi) Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods permitted hereunder
entered into by the Borrower or its Subsidiaries in the ordinary course of business; 
 (xxii) [reserved]; 

(xxiii) Liens arising from judgments, writs or warrants of attachment or similar process in circumstances not constituting an Event of Default
under Section 10.1(g); 

  
 44 

 (xxiv) [reserved]; 

(xxv) [reserved]; 
 (xxvi) Liens
solely on the assets of Subsidiaries of the Borrower that are not organized under the laws of a Security Jurisdiction, in each case securing Indebtedness permitted by Section 8.1(p); and 

(xxvii) other Liens, provided that (A) the value (determined as the lesser of cost or market value) of the property covered thereby does
not exceed, as to any single item of property or all items of property in the aggregate, $2,500,000 and (B) the Liens incurred pursuant to this clause (xxvi) do not secure debt for borrowed money. 

“Person” means any individual, sole proprietorship, partnership, limited liability company, joint venture, trust,
unincorporated organization, joint stock company, association, corporation, institution, entity, party or government (including any division, agency or department thereof) or any other legal entity, whether acting in an individual, fiduciary or
other capacity, and, as applicable, the successors, heirs and assigns of each. 
 “Plan” means any employee benefit
plan, other than a Canadian Registered Pension Plan, as defined in Section 3(3) of ERISA, maintained or contributed to by a Borrower or any ERISA Affiliate or with respect to which any of them may incur liability (whether fixed or contingent)
even if such plan is not covered by ERISA pursuant to Section 4(b)(4) thereof. 
 “Platform” means Debt Domain,
Intralinks, Syndtrak, DebtX or a substantially similar electronic transmission system. 
 “Pledged Interests” means
all of each Loan Party’s right, title and interest in and to all of the Equity Interests now owned or hereafter acquired by such Loan Party, regardless of class or designation, and all substitutions therefor and replacements thereof, all
proceeds thereof and all rights relating thereto, also including any certificates representing the Equity Interests, the right to receive any certificates representing any of the Equity Interests, all warrants, options, share appreciation rights and
other rights, contractual or otherwise, in respect thereof and the right to receive all dividends, distributions of income, profits, surplus, or other compensation by way of income or liquidating distributions, in cash or in kind, and all cash,
instruments, and other property from time to time received, receivable, or otherwise distributed in respect of or in addition to, in substitution of, on account of, or in exchange for any or all of the foregoing. 

“Pledged Interests Addendum” means a Pledged Interests Addendum to the Guaranty and Security Agreement, in form and
substance reasonably satisfactory to Agent. 
 “PPSA” means the Personal Property Security Act (Ontario), or any
other applicable Canadian federal or provincial statute pertaining to the granting, perfecting, priority or making of security interests, liens, hypothecs on personal property, and any successor statutes, together with any regulations thereunder, in
each case, as in effect from time to time, including, without limitation, the Civil Code of Quebec. References to sections of the PPSA shall be construed to also refer to any successor sections 

  
 45 

 “Preliminary Business Plan” means a preliminary high-level business
plan for the next fiscal year, which shall only consist of a consolidated profit and loss statement forecast. 
 “Prime
Rate” means the rate of interest per annum publicly announced from time to time by The Wall Street Journal as the “Prime Rate” in the United States (or, if The Wall Street Journal ceases to quote such rate, the
highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any similar rate
quoted therein (as determined by the Agent) or any similar release by the Federal Reserve Board (as determined by the Agent)); each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being
effective. 
 “Pro Rata Share” of any amount means, with respect to any Lender, a fraction (expressed as a
percentage), the numerator of which is the aggregate amount of the outstanding Loans of such Lender and the denominator of which is the aggregate outstanding amount of the Loans of all of the Lenders. The initial Pro Rata Share of such Lender shall
be as set forth opposite such Lender’s name on Annex A or in the Assignment and Acceptance pursuant to which such Lender becomes a party hereto, as applicable. 

“Prohibited Debt Issuance” means the issuance by any Loan Party or any Subsidiary of any Indebtedness other than
Indebtedness permitted under Section 7.1. 
 “Prohibited Transaction” has the meaning specified in Section
6.1(v)(v). 
 “Protected CFC” means any “controlled foreign corporation” within the meaning of Section
957 of the IRC all of whose United States shareholders as defined in Section 951(b) of the IRC are treated as domestic “C-corporations” for federal income tax purposes that are eligible for the
deduction under Section 245A of the IRC with respect to dividends from such controlled foreign corporation and with respect to all income inclusions under Sections 951(a)(1)(B) and 956 of the IRC. 

“Qualified ECP Guarantor” means, in respect of any Swap Obligation, each Loan Party that has total assets exceeding
Ten Million Dollars ($10,000,000) (or whatever greater or lesser sum as is then prescribed for such purposes under the Commodity Exchange Act) at the time that the relevant guaranty or grant of the relevant security interest becomes effective with
respect to such Swap Obligation or such other Person as constitutes an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an “eligible contract participant” at such time by
entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 “Real Property” means
any real property owned or leased by a Loan Party or any Subsidiary of a Loan Party. 
 “Receivables” means all
present and future accounts, including, whether or not constituting “accounts”, any rights to payment for the sale or lease of goods or rendition of services. 

  
 46 

 “Recipient” means (i) Agent or (ii) any Lender, as
applicable. 
 “Recovery Plan” means: (i) the most recent recovery plan relating to the Furmanite International
Limited Pension Plan agreed between Team Industrial Services (UK) Limited and the trustee of the Furmanite International Limited Pension Plan prior to the date of this Agreement (as amended or varied from time to time); and (ii) any recovery
plan or schedule of contributions entered into between the trustee of the Furmanite International Limited Pension Plan and any employer (within the meaning set out in Section 318 of the Pensions Act 2004 and regulations made thereunder) under
that Furmanite International Limited Pension Plan, in accordance with sections 226 and 227 of the Pensions Act 2004 that is additional to, or replaces and supersedes, the recovery plan referred to in clause (i). 

“Reference Time” with respect to any setting of the then-current Benchmark means (1) if such Benchmark is USD
LIBOR, 11:00 a.m. (London time) on the day that is two Business Days preceding the date of such setting, and (2) if such Benchmark is not USD LIBOR, the time determined by the Agent in its reasonable discretion. 

“Refinancing Indebtedness” means refinancings, renewals, or extensions of Indebtedness so long as 

(i) 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, the fees and expenses incurred in connection therewith, any accrued and unpaid interest and by the amount of unfunded commitments with respect thereto, 

(ii) such refinancings, renewals, or extensions do not result in a shortening of the final stated maturity or 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 materially adverse to the interests of the Lenders, 

(iii) 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 not less favorable to the Lenders as those that were applicable to the refinanced, renewed, or extended Indebtedness in any material
respect, 
 (iv) 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, 
 (v)
if the Indebtedness that is refinanced, renewed or extended was unsecured, such refinancing, renewal or extension shall be unsecured, and 

(vi) if the Indebtedness that is refinanced, renewed, or extended was secured (A) such refinancing, renewal, or extension shall be
secured by substantially the same or less collateral as secured such refinanced, renewed or extended Indebtedness on terms no less favorable to Agent or the Lenders and (B) the Liens securing such refinancing, renewal or extension shall not
have a priority more senior than the Liens securing such Indebtedness that is refinanced, renewed or extended. 

  
 47 

 “Register” has the meaning specified in Section
12.7(d). 
 “Release” means any release, spill, emission, leaking, pumping, pouring, injection, escaping,
deposit, disposal, discharge, dispersal, dumping, leaching into the Environment (including the abandonment or disposal of any barrels, containers or other closed receptacles containing Hazardous Materials) and the migration through Environment,
including movement through the air, soil, surface water or groundwater, 
 “Relevant Governmental Body” means the
Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or any
successor thereto. 
 “Remedial Action” means all actions taken to (i) clean up, remove, remediate, treat,
monitor, assess or evaluate Hazardous Materials in the environment, (ii) prevent or minimize a release or threatened release of Hazardous Materials so they do not migrate or endanger or threaten to endanger public or employee health or welfare
or the environment, (iii) restore or reclaim natural resources or the environment, (iv) perform any pre-remedial environmental-related studies, investigations, or post-remedial environmental-related
operation and maintenance activities, or (v) conduct any other remedial actions with respect to Hazardous Materials required by Environmental Laws. 

“Reportable Event” means any of the events described in Section 4043 of ERISA and the regulations issued
thereunder other than a reportable event for which the thirty-day notice requirement to the PBGC has been waived. 

“Required Lenders” means Lenders having more than 50% of the sum of all Loans outstanding. 

“Requirement of Law” or “Requirements of Law” means (i) the Governing Documents,
(ii) any law, treaty, rule, regulation, order or determination of an arbitrator, court or other Governmental Authority, or (iii) any franchise, license, lease, permit, certificate, authorization, qualification, easement, right of way, or
other right or approval binding on a Loan Party or any of its property. 
 “Resolution Authority” means an EEA
Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority. 
 “Responsible
Officer” means, with respect to 
 (i) any Loan Party other than a Dutch Loan Party, the chairman, president, chief executive
officer, chief financial officer, chief operating officer, vice president, secretary, treasurer or any other individual designated in writing to Agent by an existing Responsible Officer of such Loan Party as an authorized signatory of any
certificate or other document to be delivered hereunder; and 

  
 48 

 (ii) a Dutch Loan Party, any director of that Dutch Loan Party authorized to represent that
Dutch Loan Party or any other Person with express irrevocable authority to act on behalf of that Dutch Loan Party designated as such by the board of directors of that Dutch Loan Party. 

“Restricted Payments” has the meaning specified in Section 8.9. 

“Secured Parties” mean Agent and the Lenders. 

“Securitization” has the meaning specified in Section 12.7(e). 

“Security Documents” means this Agreement, the Guaranty and Security Agreement, any Copyright Security Agreement, any
Patent Security Agreement, any Trademark Security Agreement, each Mortgage (if any), any Canadian Security Document, any English Security Document, any Dutch Security Document, and any other agreement delivered in connection herewith which grants or
purports to grant a Lien in favor of Agent or any other Secured Party to secure all or any of the Obligations. 
 “Security
Jurisdiction” shall mean each of England, Wales, the Netherlands, Canada, any province thereof, the United States, any State thereof or the District of Columbia, and any other jurisdiction which may be agreed to from time to time by the
Borrower and the Agent. 
 “SOFR” means, with respect to any Business Day, a rate per annum equal to the secured
overnight financing rate for such Business Day published by the SOFR Administrator on the SOFR Administrator’s Website on the immediately succeeding Business Day. 

“SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight
financing rate). 
 “SOFR Administrator’s Website” means the website of the Federal Reserve Bank of New York,
currently at http://www.newyorkfed.org, or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time. 

“Solvent” means: 

(i) when used with respect to any Person (other than a UK Loan Party), that as of the date as to which such Person’s solvency is to be
measured: 
 (A) the fair saleable value of its assets is in excess of (A) the total amount of its liabilities
(including contingent, subordinated, absolute, fixed, matured, unmatured, liquidated and unliquidated liabilities) and (B) the amount that will be required to pay the probable liability of such Person on its debts as such debts become absolute
and matured; 
 (B) it has sufficient capital to conduct its business; and 

  
 49 

 (C) it is able to meet its debts as they mature; and 

(ii) in respect of any UK Loan Party, means: 

(I) that Person: (A) is able or does not admit inability to pay its debts as they fall due; (B) is not deemed to, or is not declared to be unable to
pay its debts under applicable law; (C) by reason of actual or anticipated financial difficulties, has not suspended or threatened making payments on any of its debts; or (D) by reason of actual or anticipated financial difficulties, has
not commenced negotiations with one or more of its creditors (excluding any Lenders in their capacity as such) with a view to rescheduling any of its indebtedness; and/or (II) the value of that Person’s assets is not less than its
liabilities (taking into account contingent and prospective liabilities); and/or (I) no moratorium has been declared in respect of any of that Person’s indebtedness (and the ending of a moratorium will not remedy any Event of Default so
caused by that moratorium). 
 “Subordinated Debt” means any Indebtedness incurred by Loan Parties that by its terms
is subordinated in right of payment to any of the Obligations pursuant to a Subordination Agreement. 
 “Subordination
Agreement” means an agreement among the Agent, the applicable Borrower or Subsidiary of the Borrower and the holder of any Subordinated Debt, pursuant to which such Indebtedness is made subordinate in right of payment to Payment in Full
of all Obligations on terms reasonably satisfactory to the Agent. 
 “Subsidiary” means, as to any Person, any
Entity in which that Person directly or indirectly owns or controls more than 50% of the issued and outstanding Voting Interests of such Entity. Unless otherwise stated herein, any reference herein to a “Subsidiary” means a direct or
indirect Subsidiary of Borrower. 
 “Swap Obligation” means with respect to any Loan Party, any obligation to pay or
perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act. 

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

“Tax Act” means the Income Tax Act (Canada), as amended from time to time. 

“Tax Expense” shall mean, for any period, the tax expense (including federal, state, provincial, local, foreign,
franchise, excise and foreign withholding taxes) of the Loan Parties and their Subsidiaries, including any penalties and interest relating to any tax examinations for such period, determined on a consolidated basis in accordance with GAAP. 

  
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 “Term Commitment” means the commitment of each Lender to make Term
Loans, subject to the terms and conditions set forth herein, up to the maximum amount specified for such Lender on Annex A, as it may change from time to time pursuant to Section 2.16. 

“Term Loan” means an Initial Term Loan or an Incremental Term Loan, as the context may require. 

“Term Priority Collateral” has the meaning assigned to the term “Term Priority Collateral” in the
Intercreditor Agreement. 
 “Term SOFR” means, for the applicable Corresponding Tenor as of the applicable Reference
Time, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body. 

“Termination Date” means the earlier of (i) the Maturity Trigger Date unless (x) the outstanding principal
amount of the 2017 Senior Convertible Notes is less than $50,000,000 on the Maturity Trigger Date or (y) the maturity date of the 2017 Senior Convertible Notes is extended past the date that is 91 days after the sixth (6th) anniversary of the
Closing Date or (ii) the sixth (6th) anniversary of the Closing Date. 
 “Termination Event” means 

(i) a Reportable Event with respect to any Pension Plan, any failure to make a required contribution to any Plan that could reasonably be
expected to result in the imposition of a Lien, or the arising of a Lien with respect to a Pension Plan; 
 (ii) the withdrawal of a
Borrower or any ERISA Affiliate from a Pension Plan during a plan year in which it was a “substantial employer” (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as a withdrawal under
Section 4062(e) of ERISA; 
 (iii) the provision of notice by the administrator of any Pension Plan of intent to terminate a Pension
Plan in a distress termination (as described in Section 4041(c) of ERISA), or the imposition of liability on a Borrower or any ERISA Affiliate of liability under Section 4062(e) or 4069 of ERISA; 

(iv) the institution by the PBGC of proceedings to terminate a Pension Plan under Section 4042 of ERISA; 

(v) the occurrence of any event or condition that (A) constitutes grounds under Section 4042 of ERISA for the termination of, or the
appointment of a trustee to administer, any Pension Plan, or (B) could reasonably be expected to result in the termination of a Multiemployer Plan pursuant to Section 4041A of ERISA; 

(vi) the partial or complete withdrawal, within the meaning of Sections 4203 or 4205 of ERISA, of a Borrower or any ERISA Affiliate from a
Multiemployer Plan; 

  
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 (vii) receipt by a Borrower or any ERISA Affiliate of notice that a Multiemployer Plan is
“insolvent” or in “reorganization” within the meaning of Section 4245(b) or 4241of ERISA, is in “at-risk” status (as defined in Section 430(i)(4) of the Code or
Section 303(i)(4) of ERISA), is in “critical and declining” status (within the meaning of Section 305 of ERISA), or has become subject to the limitations of Section 436 of the Code; or 

(viii) the imposition of any liability under Title IV of ERISA, other than for premiums due but not delinquent, upon a Borrower or any ERISA
Affiliate. 
 “Trademark Security Agreement” means a trademark security agreement, in form and substance reasonably
satisfactory to Agent, pursuant to which each Loan Party that has rights in any Trademarks shall grant a specific security interest in its Trademarks as security for the Obligations, as amended, restated, supplemented or otherwise modified from time
to time. 
 “Trademarks” means any and all trademarks, trade names, registered trademarks, trademark applications,
service marks, registered service marks and service mark applications, including (i) all renewals thereof, (ii) all income, royalties, damages and payments now and hereafter due or payable under and with respect thereto, including payments
under all licenses entered into in connection therewith and damages and payments for past or future infringements or dilutions thereof, (iii) the right to sue for past, present and future infringements and dilutions thereof, (iv) the
goodwill symbolized by the foregoing or connected therewith, and (v) all rights corresponding thereto throughout the world. 

“Transactions” means the execution and delivery of the Loan Documents to be entered into on the Closing Date and the
funding of the Initial Term Loans on the Closing Date, together with each of the following transactions to be consummated in connection therewith: 

(i) the repayment in full of the principal, accrued and unpaid interest, fees, premium, if any, and other amounts under the Existing Credit
Agreement and the issuance of the Warrants; 
 (ii) the repurchase of certain 2017 Senior Convertible Notes substantially concurrently with
the Closing Date; and 
 (iii) the payment of all fees, costs and expenses incurred in connection with the transactions described in the
foregoing provisions of this definition. 
 “Treasury Rate” means, with respect to any prepayment, a rate per annum
(computed on the basis of actual days elapsed over a year of 360 days) equal to the rate determined by the Agent on the date 3 Business Days prior to the date of such prepayment, to be the yield expressed as a rate listed in The Wall Street Journal
for United States Treasury securities most nearly equal to the period from the date of such prepayment, repayment or date of required repayment to and including the applicable Make Whole End Date. 

“Type” means a Base Rate Advance or a LIBOR Rate Advance. 

“UCC” shall mean the Uniform Commercial Code as from time to time in effect in the State of New York;
provided, however, that if by reason of mandatory provisions of law, the perfection or the effect of perfection or non-perfection of the security interest in any Collateral or the
availability of any remedy hereunder is governed by the Uniform Commercial Code as in effect on or after the date hereof in any other jurisdiction, then the term “UCC” shall mean the Uniform Commercial Code as in effect in
such other jurisdiction for purposes of the provisions hereof relating to such perfection or effect of perfection or non-perfection or availability of such remedy. 

  
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 “UK Financial Institution” means any BRRD Undertaking (as such term
is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United
Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. 

“UK Loan Party” means any Loan Party incorporated under the laws of England and Wales. 

“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility
for the resolution of any UK Financial Institution. 
 “Unadjusted Benchmark Replacement” means the applicable
Benchmark Replacement excluding the related Benchmark Replacement Adjustment. 
 “USD LIBOR” means the London
interbank offered rate for U.S. Dollars. 
 “U.S. Person” means any Person that is a “United States
Person” as defined in Section 7701(a)(30) of the Code. 
 “U.S. Tax Compliance Certificate” has the
meaning specified in Section 4.11(g)(ii)(B)(3). 
 “Voting Interests” means Equity
Interests having ordinary voting power for the election of the Governing Body of such Person. 
 “Warrants” means
that certain common stock purchase warrant, dated as of December 18, 2020, issued to APSC Holdco II, L.P., to purchase in the aggregate up to 3,582,949 shares of common stock, $0.01 par value per share, of the Borrower. 

“Withholding Agent” means any Loan Party or Agent. 

“Write-Down and Conversion Powers” means (a) 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 and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel,
reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any
other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that
Bail-In Legislation that are related to or ancillary to any of those powers. 

  
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 1.2 Accounting Terms and Determinations. Unless otherwise defined or specified
herein, all accounting terms used in this Agreement shall be construed in accordance with GAAP, applied on a basis consistent in all material respects with the Financial Statements delivered to Agent on or before the Closing Date. All accounting
determinations for purposes of determining compliance with the covenants contained herein shall be made in accordance with GAAP as in effect on the Closing Date and applied on a basis consistent in all material respects with the audited Financial
Statements delivered to Agent on or before the Closing Date. The Financial Statements required to be delivered hereunder from and after the Closing Date, and all financial records, shall be maintained in accordance with GAAP. In the event that any
Accounting Change (as defined below) occurs and such change results in a change in the method of calculation of financial covenants, standards or terms in this Agreement, then upon the written request of Borrower or Agent (acting upon the request of
the Required Lenders), Borrower, Agent and the Lenders will enter into good faith negotiations in order to amend such provisions of this Agreement so as to equitably reflect such Accounting Change with the desired result that the criteria for
evaluating Borrower’s financial condition will be the same after such Accounting Change as if such Accounting Change had not occurred; provided that provisions of this Agreement in effect on the date of such Accounting Change will
be calculated as if no such Accounting Change had occurred until the effective date of such amendment effected in accordance with this Agreement. “Accounting Change” means (i) any change 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 (ii) any change in the application of GAAP by Borrower. Anything in
this Agreement to the contrary notwithstanding, any obligations of a Person under a lease (whether existing now or entered into in the future) that is not (or would not be) required to be classified and accounted for as a capital lease on a balance
sheet of such Person under GAAP as in effect on December 31, 2018 shall not be treated as Capital Lease solely as a result of changes in the application of GAAP, in each case, after December 31, 2018. For purposes of calculating the Net
Leverage Ratio as of any date, EBITDA shall be calculated on a pro forma basis (as certified by the Borrower to the Agent) assuming that all acquisitions made, and all dispositions completed, during the four consecutive fiscal quarters then most
recently ended had been made on the first day of such period (but without any adjustment for projected cost savings or other synergies unless otherwise approved by the Agent). 

1.3 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. 

  
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 1.4 Other Terms; Headings. An Event of Default shall “continue” or
be “continuing” unless and until such Event of Default has been cured or waived in writing by Agent and the Required Lenders (or all Lenders, as applicable). The headings and the Table of Contents are for convenience only and shall not
affect the meaning or construction of any provision of this Agreement. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. The term “or” has, except
where otherwise specifically indicated, the inclusive meaning represented by the phrase “and/or.” Unless the context requires otherwise 

(i) any definition of or reference to any agreement, instrument or other document herein or in any other Loan Document shall be construed as
referring to such agreement, instrument or other document as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments, restatements, supplements or modifications set forth herein or in
any other Loan Document), 
 (ii) any reference herein to any Person shall be construed to include such Person’s successors and
assigns, 
 (iii) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be
construed to refer to this Agreement in its entirety and not to any particular provision hereof, 
 (iv) all references herein to Articles,
Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, 

(v) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all
tangible and intangible assets and properties, including cash, securities, accounts and contract rights, 
 (vi) time of day means time of
day New York, New York, except as otherwise expressly provided; and 
 (vii) the “discretion” of Agent, the Required Lenders or
the Lenders means the sole and absolute discretion of such Person(s). 
 Any reference to any law will include all statutory and regulatory provisions
consolidating, amending, replacing or interpreting such law and any reference to any law or regulation means unless otherwise specified, such law or regulation as amended, modified or supplemented from time to time. All making of Loans and payments
of Obligations shall be in Dollars and, unless the context otherwise requires, all determinations (including calculations of the Financial Covenants) made from time to time under the Loan Documents shall be made in light of the circumstances
existing at such time. No provision of any Loan Documents shall be construed against any party by reason of such party having, or being deemed to have, drafted the provision. Whenever the phrase “to the knowledge of” or words of similar
import are used in any Loan Documents, it means actual knowledge of a Responsible Officer of the applicable Loan Party or knowledge that such Responsible Officer would have obtained if he or she had engaged in good faith and diligent performance of
his or her duties, including reasonably specific inquiries of employees or agents and a good faith attempt to ascertain the matter to which such phrase relates. 

  
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 1.5 Dutch Terms. In this Agreement, a reference to:a “board of
directors” means a managing board (bestuur) when a Dutch Loan Party; 
 (b) a “director” means a managing director
(bestuurder) when a Dutch Loan Party is concerned; 
 (c) a “lien” includes any mortgage (hypotheek), pledge
(pandrecht), retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and, in general, any right in rem
(beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht) when a Dutch Loan Party is concerned; 

(d) any “evidence of authorization” where applicable, includes: 

(i) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and 

(ii) obtaining an unconditional positive advice (advies) from the competent works council(s) if a positive advice is
required pursuant to the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); 
 (e) a “winding up”,
“administration” or “dissolution” includes a bankruptcy (faillissement) or dissolution (ontbinding); 

(f) a “moratorium” includes surseance van betaling and “a moratorium is declared” or “occurs” includes
surseance verleend; 
 (g) any “action” taken in connection with insolvency proceedings includes a Dutch Loan Party having
filed (i) a notice under section 36 of the Dutch Tax Collection Act (Invorderingswet 1990), or (ii) any notice under Section 60 of the Social Insurance Financing Act of the Netherlands (Wet Financiering Sociale
Verzekeringen) in conjunction with Section 36 of the Dutch Tax Collection Act (Invorderingswet 1990); 
 (h) a
“liquidator” includes a curator; 
 (i) an “administrator” includes a bewindvoerder; 

(j) an “attachment” or any form thereof including “attached” includes a beslag; 

(k) “gross negligence” means grove schuld; 

(l) “willful misconduct” means opzet; 

(m) “the Netherlands” means the European part of the Kingdom of The Netherlands and Dutch means in or of the Netherlands; 

  
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 (n) “works council” includes a works council (ondernemingsraad), central
works council (centrale ondernemingsraad), group works council (groepsondernemingsraad), SE works council (SE-ondernemingsraad) and staff meeting (personeelsvergadering); 

(o) “insolvency” includes a bankruptcy (faillissement) and moratorium (surseance van betaling); and 

(p) a “Subsidiary” includes a dochtermaatschappij as defined in section 2:24a of the Dutch Civil Code (Burgerlijk
Wetboek). 
 1.6
Quebec Matters. For purposes of any Collateral located in the Province of Québec or charged by the Security Documents governed by the laws of the Province of Québec and
for all other purposes pursuant to which the interpretation or construction of a Loan Document may be subject to the laws of the Province of Québec or a court or tribunal exercising jurisdiction in the Province of Québec, (a)
“personal property” shall be deemed to include “movable property”, (b) “real property” shall be deemed to include “immovable property”, (c) “tangible property” shall be deemed to include
“corporeal property”, (d) “intangible property” shall be deemed to include “incorporeal property”, (e) “security interest” and “mortgage” shall be deemed to include a “hypothec”, (f) all
references to filing, registering or recording shall be deemed to include publication under the Civil Code of Québec, (g) all references to “perfection” of or “perfected” Liens shall be deemed to include a reference
to the “opposability” of such Liens to third parties, (h) any “right of offset”, “right of setoff” or similar expression shall be deemed to include a “right of compensation”, (i) “goods” shall
be deemed to include “corporeal movable property” other than chattel paper, documents of title, instruments, money and securities, (j) an “agent” shall be deemed to include a “mandatary”, (k) “joint and
several” shall be deemed to include “solidary”, (l) “gross negligence or willful misconduct” shall be deemed to be “intentional or gross fault” and (m) “beneficial ownership” shall be deemed to include
“ownership on behalf of another as mandatory”. 
 ARTICLE II. 

THE CREDIT FACILITIES 

2.1 The Loans. 

(a) Each Lender agrees (severally, not jointly or jointly and severally), subject to the terms and conditions of this Agreement, to make term
loans (the “Initial Term Loans”) to Borrower, on the Closing Date, at Borrower’s request to Agent, in an amount not to exceed such Lender’s Term Commitment as of the Closing Date. All Term Commitments of the Closing
Date shall automatically terminate on the Closing Date (whether or not drawn). 
 (b) [reserved]. 

(c) The Loans made by each Lender may, at the request of such Lender, be evidenced by a single promissory note payable to such Lender,
substantially in the form of Exhibit A (as amended, restated, supplemented or otherwise modified from time to time, a “Note” and, collectively, the “Notes”), executed by Borrower and
delivered to such Lender in a stated maximum principal amount equal to such Lender’s Loan. 

  
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 (d) Borrowers hereby promise to pay all of the Loans and all other Obligations in respect
thereof (including principal, interest, fees, costs, and expenses payable under this Agreement and the other Loan Documents) in full on the Termination Date or, if earlier, on the date on which the Loans and the Obligations become due and payable
pursuant to the terms of this Agreement. Once prepaid or repaid, Loans may not be reborrowed. 
 2.2 [Reserved]. 

2.3 Procedure for Borrowing; Notices of Borrowing; Notices of Conversion. 

(a) Borrowing. Each borrowing of a Loan (each, a “Borrowing”) shall be made on notice, given not later than
1:00 p.m. (New York time) on the third Business Day prior to the date of the proposed Borrowing in the case of a LIBOR Rate Advance, and not later than 1:00 p.m. (New York time) one Business Day prior to the date of the proposed Borrowing in the
case of a Base Rate Advance, by Borrower to Agent; provided that any Borrowing made on the Closing Date must be made as a Base Rate Advance unless Borrower shall have given the notice required for a LIBOR Rate Advance under
Section 2.3(d) and provided an indemnity letter extending the benefits of Section 4.10 to Lenders in respect of such Borrowing. Each such notice of a Borrowing shall be in writing (by electronic transmission or otherwise
as permitted hereunder), substantially in the form of Exhibit B (a “Notice of Borrowing”), specifying therein the requested (i) the date of such Borrowing, (ii) the Type of Advance comprising such
Borrowing, (iii) if it is a LIBOR Rate Advance, the applicable Interest Period, (iv) the Borrower’s wire instructions, and (v) the aggregate principal amount of such Borrowing. 

(b) [reserved]. 
 (c)
Conversions. Borrower may on any Business Day by giving a notice to Agent in writing (by electronic transmission or otherwise as permitted hereunder), substantially in the form of Exhibit C (a “Notice of
Conversion”), and subject to the provisions of Section 2.3(d), convert the entire amount of or a portion of an Advance of one Type into an Advance of another Type; provided, however, that any
Conversion of a LIBOR Rate Advance into a Base Rate Advance shall be made on, and only on, the last day of the Interest Period. Each such Notice of Conversion shall be given not later than 1:00 p.m. (New York time) one Business Day prior to the date
of any proposed Conversion into a Base Rate Advance and on the third Business Day prior to the date of any proposed Conversion into a LIBOR Rate Advance. Subject to the restrictions specified above, each Notice of Conversion shall be in writing (by
electronic transmission or otherwise as permitted hereunder), specifying (i) the requested date of such Conversion, (ii) the Type of Advance to be Converted, (iii) if a LIBOR Rate Advance the applicable Interest Period and
(iv) the amount of such Advance to be Converted and whether such amount comprises part (or all) of the Term Loans. Each Conversion shall be in an aggregate amount not less than $2,000,000 or an integral multiple of $500,000 in excess thereof.
If the Borrower fails to specify an Interest Period in its Notice of Conversion for a LIBOR Rate Advance, the Borrower will be deemed to have selected an Interest Period of one month. If the Borrower fails to give a timely notice requesting a
conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Advance, effective as of the last day of the Interest Period then in effect with respect to the applicable LIBOR Rate Advance. 

  
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 (d) Limitations on Use of LIBOR Index Rate. Anything in subsection
(b) or (c) above to the contrary notwithstanding, 
 (i) if, at least one (1) Business
Day before the date of any requested LIBOR Rate Advance, the introduction of or any change in or in the interpretation of any law or regulation makes it unlawful, or any central bank or other Governmental Authority asserts that it is unlawful, for
the Lenders or any of its Affiliates to perform its obligations hereunder to make a LIBOR Rate Advance or to fund or maintain a LIBOR Rate Advance hereunder (including in the case of a Conversion), Agent shall promptly give written notice of such
circumstance to Borrower, and the right of Borrower to select a LIBOR Rate Advance for such Borrowing or any subsequent Borrowing (including a Conversion) shall be suspended until the circumstances causing such suspension no longer exist, and any
Advance comprising such requested Borrowing (or Conversion) shall be a Base Rate Advance; 
 (ii) if Agent is unable to
determine the LIBOR Index Rate for LIBOR Rate Advances comprising any requested Borrowing or Conversion, Agent shall promptly give written notice of such circumstance to Borrower, and the right of Borrower to select or maintain LIBOR Rate Advances
for such Borrowing (or Conversion) or any subsequent Borrowing shall be suspended until Agent shall notify Borrower that the circumstances causing such suspension no longer exist, and any Advance comprising such Borrowing (or Conversion) shall be a
Base Rate Advance; 
 (iii) if any Lender shall, at least one (1) Business Day before the date of any requested
Borrowing of, or Conversion into, a LIBOR Index Rate Advance, notify Agent and Borrower that the LIBOR Index Rate for Advances comprising such Borrowing or Conversion will not adequately reflect the cost to such Lender of making or funding Advances
for such Borrowing, the right of Borrower to select LIBOR Rate Advances shall be suspended until such Lender shall notify Agent and Borrower that the circumstances causing such suspension no longer exist, and any Advance comprising such Borrowing
(or Conversion) shall be a Base Rate Advance; 
 (iv) there shall not be outstanding at any time more than eight (8)
Borrowings which consist of LIBOR Rate Advances; 
 (v) each Borrowing which consists of LIBOR Rate Advances shall be in an
amount equal to $2,000,000 or a whole multiple of $500,000 in excess thereof; and 
 (vi) if a Default or Event of Default
has occurred and is continuing, no LIBOR Rate Advances may be borrowed or continued as such and no Base Rate Advance may be Converted into a LIBOR Rate Advance. 

(e) Effect of Notice. Each Notice of Borrowing and each Notice of Conversion shall be irrevocable and binding on Borrower. Borrower
agrees to indemnify Agent and the Lenders against any loss, cost or expense incurred by Agent or any Lender as a result of (i) default by Borrower in making a Borrowing of, Conversion into a LIBOR Rate Advance after Borrower has given notice
requesting the same or (ii) default by Borrower in payment when due of the principal amount of or interest on any LIBOR Rate Advance, including any loss (including loss of anticipated profits), cost or expense incurred by reason of the
liquidation or reemployment of deposits or other funds acquired by Agent or any Lender to fund such Advance. 

  
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 (f) Disbursements. Promptly after its receipt of a Notice of Borrowing under
Section 2.3(a), Agent shall notify each Lender of the amount of its Pro Rata Share of the Term Commitment, and Agent shall elect, in its discretion, to have the terms of Section 2.3(g) apply to the requested Borrowings. In the
case of a Borrowing, each Lender shall make the amount of its Loan available to the Agent in immediately available funds by wire transfer to the Agent’s Payment Account not later than 1:00 p.m., New York City time, on the Business Day specified
in the applicable Notice of Borrowing. Upon receipt of all requested funds and satisfaction of the applicable conditions set forth in Section 5.1, the Agent shall make all funds so received available to the Borrower in like funds as
received by the Agent by wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Agent by the Borrower. 

(g) [Reserved]. 
 (h)
[Reserved]. 
 (i) [Reserved]. 

(j) Benchmark Replacement Setting. 

(i) Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Loan Document, if a
Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current
Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause (i) or (ii) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such
Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party
to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with clause (iii) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date,
such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of
such Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as the Agent has not received, by such time, written notice of
objection to such Benchmark Replacement from Lenders comprising the Required Lenders. 

  
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 (ii) Benchmark Replacement Conforming Changes. In connection
with the implementation of a Benchmark Replacement, the 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 or any other Loan Document. 

(iii) Notices; Standards for Decisions and Determinations. The Agent will promptly notify the Borrower and the
Lenders of (A) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date, (B) the implementation of any Benchmark
Replacement, (C) the effectiveness of any Benchmark Replacement Conforming Changes, (D) the removal or reinstatement of any tenor of a Benchmark pursuant to clause (iv) below and (E) the commencement or conclusion
of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section titled “Benchmark Replacement Setting,” 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 or any
selection, 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 to this Agreement or any other Loan Document, except, in each case, as expressly required
pursuant to this Section titled “Benchmark Replacement Setting”. 
 (iv) Unavailability of Tenor of
Benchmark. Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (A) if the then-current Benchmark is a term rate (including
Term SOFR or USD LIBOR) and either (x) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Agent in its reasonable discretion or (y) the
regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative, then the Agent may modify the interest
period for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (B) if a tenor that was removed pursuant to clause (A) above either
(x) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (y) is not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark
(including a Benchmark Replacement), then the Agent may modify the interest period for all Benchmark settings at or after such time to reinstate such previously removed tenor. 

(v) Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a
Benchmark Unavailability Period, the Borrower may revoke any request for a LIBOR Rate Advance of, conversion to or continuation of LIBOR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the
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 or at any time that a tenor for the then-current Benchmark is not an Available
Tenor, the component of Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of Base Rate. 

  
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 (vi) Disclaimer. The Agent does not warrant or accept any
responsibility for, and shall not have any liability with respect to (A) the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “Eurodollar Rate” or with
respect to any alternative or successor rate thereto, or replacement rate thereof (including any Benchmark Replacement implemented hereunder), (B) the composition or characteristics of any such Benchmark Replacement, including whether it is similar
to, or produces the same value or economic equivalence to USD LIBOR (or any other Benchmark) or have the same volume or liquidity as did USD LIBOR (or any other Benchmark), (C) any actions or use of its discretion or other decisions or
determinations made with respect to any matters covered by this Section titled “Benchmark Replacement Setting” including whether or not a Benchmark Transition Event has occurred, the removal or lack thereof of unavailable or non-representative tenors, the implementation or lack thereof of any Benchmark Replacement Conforming Changes, the delivery or non-delivery of any notices required by clause
(d) above or otherwise in accordance herewith, and (D) the effect of any of the foregoing provisions of this Section titled “Benchmark Replacement Setting”. 

2.4 Application of Proceeds. The proceeds of the Loans shall be used by Borrower to refinance existing Indebtedness, for their
general working capital purposes, for expenses incurred by Borrower in connection herewith and for other, general purposes consistent with the terms of this Agreement. 

2.5 Mandatory Prepayments; Optional Prepayments. 

(a) [Reserved]. 
 (b)
Mandatory Prepayments. The Borrower shall provide written notice to the Agent by 1:00 p.m. (New York time) one Business Day prior to any mandatory prepayment hereunder. In addition to any prepayment required in accordance with
Section 10.2 as a result of an Event of Default hereunder, the Loans shall be subject to mandatory prepayment as follows: 

(i) in an aggregate amount equal to 100% of the Net Cash Proceeds received by any Loan Party or any Subsidiary from all Asset
Dispositions permitted by Section 8.5(l) or Casualty Events within three (3) Business Days of the receipt of such Net Cash Proceeds by such Person; provided, however, that so long as no Event of Default
shall have occurred and be continuing, such Net Cash Proceeds shall not be required to be so applied at the election of the Borrower to the extent such Loan Party or such Subsidiary reinvests, within twelve (12) months of receipt of such Net
Cash Proceeds, all or any portion of such Net Cash Proceeds in assets used in the business of the Loan Parties and their Subsidiaries; provided that if, prior to the expiration of such twelve (12) month period, the Borrower,
directly or through its Subsidiaries, shall have entered into a binding agreement providing for such investment on or prior to the date that is six (6) months after the expiration of such twelve (12) month period, such twelve
(12) month period shall be extended to an eighteen (18) month period; provided further, 

  
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 if such Net Cash Proceeds shall have not been so reinvested, such Net Cash Proceeds shall be
immediately applied to prepay the Loans; provided further, that, notwithstanding the foregoing, no such prepayment shall be required if the aggregate Net Cash Proceeds received in any calendar year from Asset Dispositions and Casualty
Events is less than $5,000,000 (which amount shall be increased by any unused portion of such $5,000,000 exclusion from the immediately preceding year), 

(i) Immediately upon the receipt by the Borrower or any Material Subsidiary of the Net Cash Proceeds of any Prohibited Debt
Issuance, in an aggregate amount equal to 100% of such Net Cash Proceeds. 
 (ii) the entire outstanding principal amount of
the Loans, together with all accrued and unpaid interest thereon and all fees and Lender Group Expenses payable by Borrower hereunder, shall become due and payable on the Termination Date. 

(c) Voluntary Prepayments. 

(i) Borrower may, at any time and from time to time, prepay any tranche of the Loans, in whole or in part (subject, in the
case of the Payment in Full of all the Loans, to the additional requirements of Section 4.7), upon at least one (1) Business Days’ irrevocable notice by Borrower to Agent by 1:00 p.m. (New York time) in the case of Base
Rate Advances, and three (3) Business Days’ irrevocable notice by Borrower to Agent by 1:00 p.m. (New York time) in the case of LIBOR Rate Advances, specifying the date and amount of prepayment; provided that a notice of
optional prepayment may state that such notice is conditioned upon the effectiveness of other credit facilities or the receipt of the proceeds from the incurrence of other Indebtedness or any other event, in which case such notice of prepayment may
be revoked by the Borrower (by written notice to the Agent on or prior to the specified date) if such condition is not satisfied. If such notice is given, Borrower shall make such prepayment, and the payment amount specified in such notice shall be
due and payable, on the date specified therein accompanied by the amount of accrued and unpaid interest thereon. Each such prepayment shall be paid to the Lenders in accordance with their respective Pro Rata Share in respect of the tranche of Loans
being prepaid. 
 (ii) If the Borrower determines that the Loan is an “applicable high yield discount obligation”
within the meaning of Section 163(i)(1) of the Code, then, notwithstanding anything in this Agreement to the contrary, if at the end of any “accrual period” (as defined in Section 1272(a)(5) of the Code) ending after the fifth
anniversary of the issue date of the Loans, the aggregate amount of accrued and unpaid interest and “original issue discount” (as defined in Section 1273(a)(1) of the Code) would, but for this Section 2.5(c), exceed
an amount equal to the Loan’s “issue price” (as defined in Section 1273(b) and 1274(a) of the Code) multiplied by the Loan’s “yield to maturity” (as defined in Treasury Regulations
Section 1.1272-1(b)(1)(i)) (such product, the “Maximum Accrual”), the Borrower shall redeem at each such applicable date (an “AHYDO
Catch-Up Payment Date”), without premium or penalty, the amount of principal plus accrued and unpaid interest, if any, on the amount of principal to be redeemed, to, but excluding, the applicable
AHYDO Catch-Up Payment Date, equal to all accrued and 

  
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 unpaid interest and original issue discount on the Loans as of the end of such accrual
period in excess of an amount equal to the Maximum Accrual (the “AHYDO Catch-Up Payment”), and such AHYDO Catch-Up Payment shall be treated for
purposes of Section 163(i) of the Code as interest paid under the Loan. For the avoidance of doubt, there shall be no prepayments under this paragraph on or prior to the fifth anniversary of the date of this Agreement. 

(d) Application of Prepayments. Each prepayment made pursuant to Section 2.5 shall be accompanied by the payment of
accrued and unpaid interest to the date of such payment on the amount prepaid and, in the case of any prepayment made pursuant to Section 2.5(b)(ii) or Section 2.5(c) shall be accompanied by the Applicable
Premium, if any, payable in connection with such prepayment of the Loans. Each such prepayment shall be applied against the remaining installments of principal due on the Term Loan in the inverse order of maturity. 

2.6 [Reserved]. 

2.7 [Reserved]. 

2.8 Term. The term of this Agreement shall be for a period from the Closing Date through and including the Termination Date.
Notwithstanding the foregoing, Borrower shall have no right to terminate this Agreement at any time that any principal of or interest on any of the Loans is outstanding, except upon Payment in Full of all Obligations. 

2.9 Payment Procedures. 

(a) [Reserved]. 
 (b) Time of
Payment. Each payment by Borrower on account of principal, interest, fees or Lender Group Expenses hereunder shall be made to Agent. All payments to be made by Borrower hereunder, whether on account of principal, interest, fees or otherwise,
shall be made without setoff, deduction or counterclaim and shall be made prior to 1:00 p.m. (New York time) on the due date thereof to Agent, for the account of the Lenders according to their Pro Rata Shares (except as expressly otherwise
provided), at Agent’s Payment Account in immediately available funds. All payments received by the Agent after 1:00 p.m. (New York City time), may, in the Agent’s discretion, be deemed received on the next succeeding Business Day and any
applicable interest or fee shall continue to accrue. Except for payments which are expressly provided to be made for the account of Agent only, Agent shall promptly distribute all payments to the Lenders following receipt in like funds as received.
Notwithstanding anything to the contrary contained in this Agreement, if a Lender or any of its Affiliates exercises its right of setoff under Section 12.3 or otherwise, any amounts so recovered shall promptly be shared by such Lender with
the other Lenders according to their respective Pro Rata Shares. 
 (c) Next Business Day. Whenever any payment to be made hereunder
shall be stated to be due on a day that is not a Business Day, the payment may be made on the next succeeding Business Day (with respect to the Interest Period rules) and such extension of time shall be included in the computation of the amount of
interest due hereunder. 

  
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 (d) Application. Subject to Section 10.5, Agent shall have the continuing
and exclusive right, if an Event of Default exists, to apply or reverse and re-apply any payment and any and all proceeds of Collateral to any portion of the Obligations. To the extent that any Borrower makes
a payment or Agent receives any payment or proceeds of the Collateral for any Borrower’s benefit, which is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, debtor in
possession, receiver, custodian or any other party under any bankruptcy law, common law or equitable cause, then, to such extent, the Obligations or part thereof intended to be satisfied shall be revived and continue as if such payment or proceeds
had not been received by Agent. 
 2.10 Designation of a Different Lending Office. If any Lender requests compensation under
Section 4.10, or requires any Borrower to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 4.11, then such Lender (at the request of
Borrower) shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of
such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 4.10 or Section 4.11, as the case may be, in the future, and (ii) would not subject such Lender to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

2.11 Replacement of Lenders. If any Lender requests compensation under Section 4.10, or if any Borrower is required
to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 4.11 and, in each case, such Lender has declined or is unable to designate a different
lending office in accordance with Section 2.10, or if any Lender is a Non-Consenting Lender, then Borrower may, at their sole expense and effort, upon notice by Borrower to such Lender and Agent,
require such Lender to assign and delegate (and such Lender agrees to assign and delegate), without recourse (in accordance with and subject to the restrictions contained in, and the consents required by, Section 12.7), all of its
interests, rights (other than its existing rights to payments pursuant to Section 4.10 or Section 4.11) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such
obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that 
 (a) Borrower shall
have paid to Agent the assignment fee (if any) specified in Section 12.7; 
 (b) such Lender shall have received payment of an
amount equal to the outstanding principal of all Loans owed to it, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 4.3 and
4.10) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or Borrower (in the case of all other amounts); 

  
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 (c) in the case of any such assignment resulting from a claim for compensation under
Section 4.10 or payments required to be made pursuant to Section 4.11, such assignment will result in a reduction in such compensation or payments thereafter; 

(d) such assignment does not conflict with applicable law; and 

(e) in the case of any assignment resulting from a Lender becoming a Non-Consenting Lender, the
applicable assignee shall consent, at the time of such assignment, to each applicable amendment, waiver or consent. 
 A Lender shall not be required to
make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling Borrower to require such assignment and delegation cease to apply. 

2.12 [Reserved]. 

2.13 [Reserved]. 

2.14 Sharing of Payments, Etc.. If any Lender shall obtain at any time any payment (whether voluntary, involuntary, through the
exercise of any right of setoff, or otherwise) on account of Obligations payable to such Lender hereunder at such time in excess of its ratable share (according to the proportion of (a) the amount of such Obligations to (b) the aggregate
amount of the Obligations payable to all Lenders hereunder at such time), such Lender shall forthwith purchase from the other Lenders such participations in the Obligations payable to them as shall be necessary to cause such purchasing Lender to
share the excess payment ratably with each of them; provided, however, that, if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from each other Lender shall be
rescinded and such other Lender shall repay to the purchasing Lender the purchase price to the extent of such other Lender’s ratable share (according to the proportion of (i) the purchase price paid to such Lender to (ii) the
aggregate purchase price paid to all Lenders) of such recovery together with an amount equal to such Lender’s ratable share (according to the proportion of (A) the amount of such other Lender’s required repayment to (B) the total
amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered. The Borrower agrees that any Lender so purchasing a participation from another
Lender pursuant to this Section 2.14 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of setoff) with respect to such participation as fully as if such Lender were the direct creditor
of such Borrower in the amount of such participation. 
 2.15 [Reserved]. 

  
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 2.16 Incremental Term Loans. 

(a) Borrower may by written notice to the Agent increase the then-effective amount of the Initial Term Loans or establish a new tranche of
term loans hereunder (any such increase or new tranche, “Incremental Term Loans”) to repay or retire the 2017 Senior Convertible Notes (provided, up to $7,000,000 may be used in a single borrowing for working
capital purposes or to fund a Permitted Acquisition); provided that: 
 (i) the principal amount of Incremental
Term Loans established pursuant to this Section 2.16, shall not exceed $100,000,000 (such amount, after deducting any Incremental Term Loans borrowed hereunder, the “Incremental Basket”); 

(ii) Borrower shall execute and deliver such documents and instruments and take such other actions as may be required by Agent
in connection with such increases and at the time of any such proposed increase; 
 (iii) no Default or Event of Default
shall have occurred and be continuing or would occur after giving effect to such increase and all representations and warranties by or on behalf of each Loan Party and its Subsidiaries set forth in the Loan Documents shall be true and correct in all
material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects) on and as
of the date of such increase or, to the extent such representations and warranties expressly relate to an earlier date, true and correct in all material respects on and as of such earlier date; 

(iv) (A) the Incremental Term Loans provided under this Section 2.16 shall have a maturity date no earlier
than the Termination Date and (B) the weighted average life to maturity of any Incremental Term Loans shall be no shorter than the weighted average life to maturity of the Initial Term Loans; 

(v) Borrower shall be in pro forma compliance with a Net Leverage Ratio of not more than 6.50 to 1.00 calculated as of the most
recently ended Fiscal Quarter for which financial statements have been delivered and as if such Incremental Term Loans had been established (and fully funded) as of the first day of the relevant period for testing compliance and 

(vi) All other terms and conditions with respect to the Incremental Term Loans, except with respect to All-in Yield (which shall be subject to clause (d) below), be no more favorable to the Borrower than those applicable to the Initial Term Loans (including in respect of guarantees and collateral) or added for
the benefit of the Initial Term Loans; provided, the addition of Loan Parties organized in jurisdictions other than the United States, Canada, England and the Netherlands shall be subject to approval of the Agent. 

(b) No Lender shall have any obligation, express or implied, to offer to increase the aggregate principal amount of its Loans. Only the
consent of the Lenders agreeing to provide Incremental Term Loans (each such lender being an “Additional Lender”) shall be required pursuant to this Section 2.16. 

  
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 (c) Subject to subsections (a) and (b) of this Section 2.16,
any Incremental Term Loans requested by Borrower shall be effective upon delivery to Agent of each of the following documents (the date of such effectiveness, the “Incremental Effective Date”): 

(i) an originally executed copy of any instrument of joinder signed by a duly authorized officer of each Additional Lender, in
form and substance reasonably acceptable to Agent; 
 (ii) a notice to the Additional Lenders, in form and substance
reasonably acceptable to Agent, signed by a Responsible Officer of Borrower; 
 (iii) a certificate of Borrower signed by a
Responsible Officer, in form and substance acceptable to Agent, certifying that each of the conditions in subsection (a) of this Section 2.16 has been satisfied: and 

(iv) any other certificates or documents that Agent shall request, each in form and substance satisfactory to Agent. 

(d) Anything to the contrary contained herein notwithstanding, the All-In Yield that is to be
applicable to the Incremental Term Loans may be lower than, equal to or higher than the All-In Yield applicable to the Initial Term Loans hereunder immediately prior to the Incremental Effective Date;
provided that if the All-In Yield that is to be applicable to the Incremental Term Loans is higher than the All-In Yield applicable to the Initial Term
Loans hereunder immediately prior to the Incremental Effective Date by more than 0.50% (the amount by which the All-In Yield is higher than 0.50%, the “Excess”), then the interest
margin applicable to the Initial Term Loans immediately prior to the Incremental Effective Date shall be increased by the amount of the Excess, subject to the occurrence of and effective upon the Incremental Effective Date and without the necessity
of any action by any party hereto. 
 (e) [Reserved]. 

(f) Unless otherwise specifically provided herein, all references in this Agreement and any other Loan Document to Loans shall be deemed,
unless the context otherwise requires, to include Loans made pursuant to the Incremental Term Loans pursuant to this Section 2.16. 

ARTICLE III. 
 [RESERVED]

 ARTICLE IV. 

INTEREST, FEES AND EXPENSES 

4.1 Interest. Subject to Section 4.2, Borrower shall pay to Agent for the ratable benefit of the Lenders interest on
the Advances, payable in arrears on each Interest Payment Date, at the following rates per annum: 
 (a) Base Rate Advances. If such
Advance is a Base Rate Advance, at a fluctuating rate which is equal to (i) the Base Rate then in effect plus (ii) the Applicable Margin. 

  
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 (b) LIBOR Rate Advances. If such Advance is a LIBOR Rate Advance, at (i) the LIBOR
Index Rate plus (ii) the Applicable Margin. 
 4.2 Interest After Event of Default. 

(a) Automatically upon the occurrence and during the continuation of an Event of Default under Section 10.1(d), and (b) upon
the occurrence and during the continuation of any Event of Default (other than an Event of Default under Section 10.1(d)), at the direction of Agent or the Required Lenders, all Loans and all Obligations shall bear interest at a per
annum rate equal to two percent (2%) above the per annum rate otherwise applicable thereunder until the earlier of the date upon which (i) all Obligations shall have been Paid in Full or (ii) such Event of Default shall have been cured
or waived. 
 4.3 Applicable Premium. 

(a) Upon the occurrence of an Applicable Premium Trigger Event, the Borrower shall pay to the Agent, for the account of the Lenders in
accordance with their Pro Rata Shares, the Applicable Premium. 
 (b) Any Applicable Premium payable in accordance with this
Section 4.3 shall be presumed to be equal to the liquidated damages sustained by the Lenders as the result of the occurrence of the Applicable Premium Trigger Event and the Loan Parties agree that it is reasonable under the circumstances
currently existing. THE LOAN PARTIES EXPRESSLY WAIVE THE PROVISIONS OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT PROHIBITS OR MAY PROHIBIT THE COLLECTION OF THE FOREGOING APPLICABLE PREMIUM IN CONNECTION WITH ANY ACCELERATION. 

(c) The Loan Parties expressly agree that: 

(i) the Applicable Premium is reasonable and is the product of an arm’s length transaction between sophisticated business
people, ably represented by counsel; 
 (ii) the Applicable Premium shall be payable notwithstanding the then prevailing
market rates at the time payment is made; 
 (iii) there has been a course of conduct between the Lenders and the Loan
Parties giving specific consideration in this transaction for such agreement to pay the Applicable Premium; 
 (iv) the Loan
Parties shall be estopped hereafter from claiming differently than as agreed to in this paragraph; 

  
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 (v) their agreement to pay the Applicable Premium is a material inducement
to Lenders to provide the Commitments and make the Loans, and 
 (vi) the Applicable Premium represents a good faith,
reasonable estimate and calculation of the lost profits or damages of the Agents and the Lenders and that it would be impractical and extremely difficult to ascertain the actual amount of damages to the Agents and the Lenders or profits lost by the
Agents and the Lenders as a result of such Applicable Premium Trigger Event. 
 4.4 [Reserved]. 

4.5 [Reserved]. 

4.6 [Reserved]. 

4.7 [Reserved]. 

4.8 [Reserved]. 

4.9 Calculations. 

(a) Interest payable pursuant to Section 4.1 shall be computed (i) in the case of Base Rate Advance based on the Prime
Rate, on the basis of a three hundred and sixty-five (365) day or three hundred and sixty-six (366) day year, as the case may be and (ii) in the case of LIBOR Rate Advance and Base Rate Advance
not based on the Prime Rate, on the basis of a three hundred and sixty (360) day year, in each case for the actual number of days elapsed in the period during which it accrues. Each determination by Agent of an interest rate, fee or other
payment hereunder shall be conclusive and binding for all purposes, absent manifest error. Borrower hereby acknowledges and agrees that each fee payable under this Agreement is fully earned and non-refundable
on the date such fee is due and payable and that each such fee constitutes Obligations and is in addition to any other fees payable by Borrower under the Loan Document. If any provision of this Agreement or any other Loan Document would require a
Loan Party to make any payment of interest or any other payment that by a court of competent jurisdiction construes to be interest in an amount or calculated at a rate which would be prohibited by law or would result in the Agent’s receipt of
interest at a criminal rate (as those terms are construed under the Criminal Code (Canada)), then despite that provision, that amount or rate will be deemed to have been adjusted retroactively to the maximum amount or rate of interest, as the
case may be, as would not be so prohibited by law or would not result in a receipt by the Agent of interest at a criminal rate. The adjustment will be made, to the extent necessary, first, by reducing the amount or rate of interest required to be
paid and thereafter by reducing any fees, commissions, premiums, and other amounts that would constitute interest for the purposes of section 347 of the Criminal Code (Canada). 

(b) In computing interest on any Loan, the date of the making of such Loan or the first day of an Interest Period applicable to such Loan or,
the last Interest Payment Date with respect to such Loan or, with respect to a Base Rate Advance being converted from a LIBOR Rate Advance, the date of conversion of such LIBOR Rate Advance to such Base Rate Advance, as the case may be, shall be
included, and the date of payment of such Loan or the expiration date of an Interest Period applicable to such Loan or, with respect to a Base Rate Advance being converted to a LIBOR Rate Advance, the date of conversion of such Base Rate Advance to
such LIBOR Rate Advance, as the case may be, shall be excluded. 

  
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 (c) For purposes of the Interest Act (Canada), 

(i) whenever any interest or fee under this Agreement is calculated using a rate based on a year of 360 days or 365 days (or
such other period that is less than a calendar year), as the case may be, the rate determined pursuant to such calculation, when expressed as an annual rate, is equivalent to (x) the applicable rate based on a year of 360 days or 365 days (or
such other period that is less than a calendar year), as the case may be, (y) multiplied by the actual number of days in the calendar year in which the period for which such interest or fee is payable (or compounded) ends, and (z) divided
by 360 or 365 (or such other period that is less than a calendar year), as the case may be, 
 (ii) the principle of deemed
reinvestment of interest does not apply to any interest calculation under this Agreement, and 
 (iii) the rates of interest
stipulated in this Agreement are intended to be nominal rates and not effective rates or yields. 
 4.10 Increased Costs. 

(a) If any Change in Law shall: 

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

(ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses
(ii) through (iv) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments or other obligations, or its deposits, reserves, other liabilities or capital
attributable thereto; or 
 (iii) impose on any Lender or the London interbank market any other condition (other than Taxes)
affecting this Agreement or Loans made by such Lender; 
 and the result of any of the foregoing shall be to increase the cost to such Lender of making,
converting to, continuing or maintaining any Loan or of maintaining its obligation to make any such Loan, or to reduce the amount of any sum received or receivable by such Lender (whether of principal, interest or any other amount), then Borrower
will pay to such Lender such additional amount or amounts as will compensate such Lender for such additional costs incurred or reduction suffered. 

  
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 (b) If any Lender determines that any Change in Law affecting such Lender or any lending
office of such Lender or such Lender’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate
of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by such Lender to a level below that which such Lender or
such Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy or liquidity), then from
time to time Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered. 

(c) A certificate of a Lender setting forth the amount or amounts necessary to compensate such Lender or its holding company, as the case may
be, as specified in paragraph (a) or (b) of this Section 4.10 and delivered to Borrower will be conclusive absent manifest error. Borrower will pay such Lender the amount shown as due on any such certificate within ten
(10) days after receipt thereof. 
 (d) Failure or delay on the part of any Lender to demand compensation pursuant to this
Section 4.10 shall not constitute a waiver of such Lender’s right to demand such compensation; provided that Borrower shall not be required to compensate a Lender pursuant to this Section 4.10 for any increased
costs incurred or reductions suffered more than 180 days prior to the date that such Lender notifies Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s intention to claim compensation therefor
(except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect
thereof). 
 4.11 Taxes. 

(a) Defined Terms. For purposes of this Section 4.11, the term “applicable law” includes FATCA. 

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

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

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

(e) Indemnification by the Lenders. Each Lender shall severally indemnify Agent, within 10 days after demand therefor, for (i) any
Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable to
such Lender’s failure to comply with the provisions of Section 12.7 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 Agent
in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the
amount of such payment or liability delivered to any Lender by Agent shall be conclusive absent manifest error. Each Lender hereby authorizes 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 Agent to the Lender from any other source against any amount due to Agent under this clause (e). 
 (f)
Evidence of Payments. As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to this Section 4.11, such Loan Party shall deliver to Agent the original or a certified copy of a
receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to Agent. 

(g) Status of Lenders. 

(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any
Loan Document shall deliver to Borrower and Agent, at the time or times reasonably requested by Borrower or Agent, such properly completed and executed documentation reasonably requested by Borrower or Agent as will permit such payments to be made
without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by Borrower or Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by Borrower or Agent as will
enable Borrower or Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and
submission of such documentation (other than such documentation set forth in Section 4.11(g)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or
submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

  
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 (ii) Without limiting the generality of the foregoing, 

(A) any Lender that is a U.S. Person shall deliver to Borrower and Agent on or prior to the date on which such Lender becomes a
Lender under this Agreement (and from time to time thereafter upon the reasonable request of Borrower or Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup
withholding tax; 
 (B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Borrower and
Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Borrower or Agent),
whichever of the following is applicable: 
 (1) in the case of a Foreign Lender claiming the benefits of an income tax
treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN-E establishing an
exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form
W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article
of such tax treaty; 
 (2) executed copies of IRS Form W-8ECI; 

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

(4) to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form
W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN,
W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit K-2 or Exhibit K-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
K-4 on behalf of each such direct and indirect partner; 

  
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 (C) any Foreign Lender shall, to the extent it is legally entitled to do so,
deliver to Borrower and Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request
of Borrower or Agent), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by
applicable law to permit Borrower or Agent to determine the withholding or deduction required to be made; and 
 (D) if a
payment made to a Lender under any Loan Document would be subject to 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 Code, as applicable), such Lender shall deliver to Borrower and 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 Code) and such additional documentation reasonably requested by Borrower or Agent as may be necessary for Borrower and Agent to comply with their obligations under FATCA and to
determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any
amendments made to FATCA after the date of this Agreement. 
 Each Lender agrees that if any form or certification it previously delivered expires or
becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify Borrower and Agent in writing of its legal inability to do so. 

(h) Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a
refund of any Taxes as to which it has been indemnified pursuant to this Section 4.11 (including by the payment of additional amounts pursuant to this Section 4.11), it shall pay to the indemnifying party an amount equal to
such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket
expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall
repay to such indemnified party the amount paid over pursuant to this clause (h) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such
refund to such Governmental Authority. Notwithstanding anything to the contrary in this clause (h), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this clause (h) the
payment of which would place the indemnified party in a less favorable net 

  
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 after-tax position than the indemnified party 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. This paragraph shall not be
construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

(i) Survival. Each party’s obligations under this Section 4.11 shall survive the resignation or replacement of 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. 

ARTICLE V. 
 CONDITIONS
OF LENDING 
 5.1 Conditions to Initial Term Loan . The obligation of the Lenders to make the Initial Term Loans is
subject to the satisfaction or waiver in writing (which shall include Schedule 7.21) of the following conditions prior to making of such Initial Term Loan: 

(a) Loan Documents. Agent shall have received the following, each dated as of the Closing Date or as of an earlier date acceptable to
Agent, in form and substance satisfactory to Agent and its counsel: 
 (i) counterparts of this Agreement, duly executed by
the parties hereto; 
 (ii) the Notes, each duly executed by Borrowers, to the extent such Notes were requested three
(3) Business Days prior to the Closing Date; 
 (iii) the Copyright Security Agreement, duly executed by each applicable
Loan Party; 
 (iv) the Patent Security Agreement, duly executed by each applicable Loan Party; 

(v) the Trademark Security Agreement, duly executed by each applicable Loan Party; 

(vi) ABL Credit Agreement and ABL Intercreditor Agreement; 

(vii) a Guaranty and Security Agreement and Non-U.S. Collateral Documents (other than
each of the Dutch Share Pledges, which shall be executed within 30 Business Days of the date of this Agreement), in each case, duly executed by each Loan Party; 

  
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 (viii) acknowledgment copies of financing statements duly authorized and
filed under the Uniform Commercial Code and PPSA (naming Agent as secured party and the Loan Parties as debtors and containing a description of the applicable Collateral) with respect to each Loan Party in the jurisdiction in which such Loan Party
is organized as set forth on Schedule 6.1(a); 
 (ix) results of lien, judgment and Intellectual Property
searches, dated on or before the Closing Date, listing all effective financing statements filed in the jurisdictions referred to in clause (viii) above and in all other jurisdictions (except the Province of Quebec) that Agent deems
necessary or desirable to confirm the priority of the Liens created hereunder and under the Security Documents, that name each of the Loan Parties as debtor, together with copies of such financing statements; 

(x) a completed perfection certificate, substantially in the form of Exhibit E, signed by a Responsible Officer
of Borrower; 
 (xi) a financial condition certificate of a Responsible Officer of Borrower, in the form of Exhibit
F; 
 (xii) Warrants; 

(xiii) the following (collectively, the “Historical Financials”) 

(A) the audited Financial Statements for the fiscal year ended December 31, 2019, certified by the Auditors, and unaudited
Financial Statements for the nine-month period ended September 30, 2020, certified by a Responsible Officer of Borrower, 

(B) a pro forma consolidated balance sheet of the Loan Parties and their Subsidiaries, after giving effect to the consummation
of the transactions contemplated hereby, in form and substance reasonably satisfactory to Agent, and 
 (C) a certificate
executed by a Responsible Officer of Borrower certifying that since December 31, 2019, 
 (I) there has been no change,
occurrence, development or event which has had or could reasonably be expected to have a Material Adverse Effect, 
 (II)
all data, reports and information (other than projections and budgets) heretofore or contemporaneously furnished by or on behalf of the Loan Parties in writing to Agent or the Auditors for purposes of or in connection with this Agreement or any
other Loan Document, or any transaction contemplated hereby or thereby, are true and accurate in all material respects as of the date or certification thereof and are not incomplete by omitting to state any material fact necessary to make such data,
reports and information not misleading at such time, and 
 (III) all projections and budgets heretofore furnished to Agent
or the Auditors for purposes of or in connection with this Agreement or any other Loan Document, or any transaction contemplated hereby or thereby, have been prepared in good faith based on assumptions believed by Borrower to be reasonable at the
time of preparation; 

  
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 (xiv) an opinion of counsel for each Loan Party addressed to Agent covering such matters
incident to the transactions contemplated by this Agreement as Agent may reasonably require, which such counsel is hereby requested by Borrower on behalf of all the Loan Parties to provide; 

(xv) certified copies of all policies of insurance required by this Agreement and the other Loan Documents, inclusive of those described in
Section 7.6 hereof together with loss payee endorsements for all such policies naming Agent as lender loss payee and an additional insured; 

(xvi) a copy of the Business Plan for the four (4) year period commencing October 1, 2020, accompanied by a certificate executed by
a Responsible Officer of Borrower certifying to Agent and the Lenders that the Business Plan has been prepared in good faith on the basis of assumptions which were believed to be reasonable in the context of the conditions existing on the date
hereof, and represents, as of the date hereof, Borrower’s good faith estimate of its future financial performance; 
 (xvii) copies of
the Governing Documents (other than the deed of incorporation (oprichtingsakte) of Furmanite B.V.) of each Loan Party and a copy of the resolutions of the Governing Body (or similar evidence of authorization) of each Loan Party and authorizing the
execution, delivery and performance of this Agreement, the other Loan Documents to which such Loan Party is or is to be a party, and the transactions contemplated hereby and thereby, attached to a certificate of the Secretary or an Assistant
Secretary or other officer of such Loan Party certifying 
 (A) that such copies of the Governing Documents and resolutions
of the Governing Body (or similar evidence of authorization) relating to such Loan Party are true, complete and accurate copies thereof, have not been amended or modified since the date of such certificate and are in full force and effect, 

(B) the incumbency, names and true signatures of the officers of such Loan Party authorized to sign the Loan Documents to which
it is a party, 
 (C) that attached thereto is a list of all persons authorized to execute and deliver Notices of Borrowing
and Notices of Conversion on behalf of Borrower and 
 (D) in respect of the UK Loan Parties, the Solvency of that UK Loan
Party; 
 (xviii) with respect to US Loan Parties, a certified copy of a certificate of the Secretary of State of the state of
incorporation, organization or formation (or the equivalent Governmental Authority in the jurisdiction of incorporation, organization or formation) of each Loan Party, dated within twenty (20) days of the Closing Date, listing the certificate
of incorporation, organization or formation of such Loan Party and each amendment thereto on file in such official’s office and certifying (to the extent such concept exists in such jurisdictions) that 

  
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 (A) such amendments are the only amendments to such certificate of
incorporation, organization or formation on file in that office, 
 (B) such Loan Party has paid all franchise taxes to the
date of such certificate and 
 (C) such Loan Party is in good standing in that jurisdiction (as applicable); 

(xix) with respect to any Loan Party formed under the laws of Canada or any province or territory thereof, a certificate of
status (or equivalent) issued by the governmental authority in the jurisdiction in which such Loan Party is formed, dated within twenty (20) days of the Closing Date; 

(xx) [reserved]; 

(xxi) [reserved]; 

(xxii) each of the English Security Documents, duly executed by each Loan Party thereto; 

(xxiii) evidence that any process agent referred to in Clause 33.2 (Service of process) of the English Share
Charge, has accepted its appointment; 
 (xxiv) a copy of all notices required to be sent under the English Security
Documents executed by the relevant parties thereto; 
 (xxv) a letter of financial support from the Borrower addressed to the
directors of each UK Loan Party and Team Industrial Services (UK) Limited in form and substance acceptable to the Agent. 

(xxvi) a closing certificate from a Responsible Officer of Borrower, in the form of Exhibit G. 

(b) [Reserved]. 

(c) Reimbursement. Borrower shall have paid 

(i) all reasonable and documented out-of-pocket
fees and Lender Group Expenses required to be paid pursuant to Section 12.4 of this Agreement to the extent invoiced at least three (3) Business Days prior to the Closing Date (it being understood that all other such fees and Lender
Group Expenses shall be paid after the Closing Date in accordance with the terms of this Agreement), and 

  
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 (ii) the fees referred to in this Agreement that are required to be paid on
the Closing Date. 
 (d) [Reserved]. 

(e) Collateral Review. Agent and its counsel shall have performed (i) a review satisfactory to Agent of all of the Material
Contracts and other assets (including material leases of operating facilities) of each Loan Party, the financial condition of each Loan Party, including all of its tax, litigation, environmental and other potential contingent liabilities, the
capitalization and capital structure of each Loan Party and the cash management and management information systems of Borrower and (ii) reviews and investigations of such other matters as Agent and its counsel deem appropriate, in each case
with results satisfactory to Agent. 
 (f) [Reserved]. 

(g) [Reserved]. 
 (h)
[Reserved]. 
 (i) Due Diligence. Agent shall have completed satisfactory business and legal due diligence. 

(j) Payment of Outstanding Indebtedness, etc. Agent shall have received reasonably satisfactory evidence that all Indebtedness (other
than any Indebtedness permitted under Section 8.1), together with all interest, all prepayment premiums and other amounts due and payable with respect thereto, will have been paid in full upon the making of the initial Loan and all
obligations with respect thereto will, substantially concurrently with the making of the initial Loan, be terminated (other than contingent indemnification obligations), and payoff letters evidencing that all Liens securing payment of any such
Indebtedness will substantially contemporaneously be released at the time of the making of the initial Loan, on terms and in a manner reasonably satisfactory to Agent; provided, that Agent shall have received fully executed and
effective purchase agreements to repurchase up to $137,000,000 of the 2017 Senior Convertible Notes. In addition, Agent shall have received duly authorized release or termination statements, duly filed (or an authorization from all required Persons
to file release or termination statements) in all jurisdictions that Agent deems necessary from any creditors of the Loan Parties being paid off on the Closing Date. 

(k) KYC. Upon the request of Agent or any Lender made at least ten (10) days prior to the Closing Date, Borrower shall have
provided to Agent or such Lender no later than five (5) days prior to the Closing Date, a duly executed W-9 (or other applicable tax form) of the Borrower, and all other documentation and information so
requested in connection with applicable “know your customer” and Anti-Money Laundering Laws, including the Patriot Act. At least three (3) days prior to the Closing Date, any Borrower that qualifies as a “legal entity
customer” under the Beneficial Ownership Regulation shall have delivered to Agent a Beneficial Ownership Certification in relation to such Borrower. 

  
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 5.2 Conditions Precedent to Each Loan . The obligation of the Lenders to make
any Loan is subject to the satisfaction of the following conditions precedent: 
 (a) Representations and Warranties. All
representations and warranties contained in this Agreement and the other Loan Documents 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) 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); 
 (b) No Default. No Default or Event of Default
shall have occurred and be continuing or would result from the making of the requested Loan; and 
 (c) Borrowing Notice. The
Borrower shall have delivered a Notice of Borrowing, in the form of Exhibit B, in accordance with Section 2.3. 
 Each condition
in Sections 5.1 and 5.2 that is subject to the satisfaction or discretion of Agent or any Lender shall be deemed satisfied upon Agent’s or Lender’s, as applicable, making of any Loan. 

ARTICLE VI. 

REPRESENTATIONS AND WARRANTIES 

6.1 Representations and Warranties of Borrower. The Borrower makes the following representations and warranties to Agent and the
Lenders, which shall be true, correct and complete in all respects as of the Closing Date, and after the Closing Date, 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 any Borrowing 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 such representations and warranties shall survive the execution and delivery of this Agreement: 

(a) Organization, Good Standing and Qualification. Each Loan Party 

(i) is an Entity duly organized (or incorporated, as the case may be), validly existing and in good standing (to the extent
such concept exists in the relevant jurisdiction) under the laws of the state of its incorporation, organization or formation, 

(ii) has the requisite power and authority to own its properties and assets and to transact the businesses in which it
presently is, or proposes to be, engaged, except to the extent that the failure own such properties and assets or transact business in such a way could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect
and 

  
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 (iii) is duly qualified, authorized to do business and in good standing (to
the extent such concept exists in the relevant jurisdictions) in each jurisdiction where it presently is, or proposes to be, engaged in business, except to the extent that the failure so to qualify or be in good standing could not reasonably be
expected, individually or in the aggregate, to have a Material Adverse Effect. 
 Schedule 6.1(a) specifies the jurisdiction in which each
Loan Party is organized and also specifies the tax identification numbers and organizational identification numbers of each Loan Party. 

(b) Locations of Offices, Records and Collateral. The address of the principal place of business and chief executive office of each
Loan Party is, and the books and records of each Loan Party and all of its chattel paper are maintained exclusively in the possession of such Loan Party at the address of such Loan Party specified in Schedule 6.1(b) (as such Schedule
may be updated from time to time to reflect changes resulting from transactions permitted under this Agreement). There is no location at which any Loan Party maintains any Collateral in an aggregate principal amount exceeding $500,000 other than the
locations specified for it in Schedule 6.1(b) (as such Schedule may be updated from time to time to reflect changes resulting from transactions permitted under this Agreement). Schedule 6.1(b) (as such Schedule may be
updated from time to time to reflect changes resulting from transactions not prohibited under this Agreement) specifies all Real Property of each Loan Party, and indicates whether each location specified therein is leased or owned by such Loan
Party. 
 (c) Authority. Each Loan Party has the requisite power and authority to execute, deliver and perform its obligations under
each of the Loan Documents to which it is a party. All requisite corporate, limited liability company or partnership action necessary for the execution, delivery and performance by each Loan Party of the Loan Documents to which it is a party
(including the consent of its owners, where required) has been taken. 
 (d) Enforceability. The Loan Documents delivered by the Loan
Parties, when executed and delivered, will be, the legal, valid and binding obligation of each Loan Party party thereto enforceable in accordance with its terms, except as enforceability may be limited by (i) bankruptcy, insolvency or similar
laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

(e) No Conflict. The execution, delivery and performance by each Loan Party of each Loan Document to which it is a party 

(i) do not and will not contravene any of the Governing Documents of such Loan Party, 

  
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 (ii) do not and will not contravene any Requirement of Law, except as such
contravention could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, 
 (iii)
do not and will not contravene any Material Contract, except as such contravention could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, and 

(iv) do not and will not result in the imposition of any Liens upon any of its properties except for Permitted Liens. 

(f) Consents and Filings. No consent, authorization or approval of, or filing with or other act by, any Governmental Authority or any
other Person is required in connection with the execution, delivery or performance of this Agreement or any other Loan Document, or the consummation of the transactions contemplated hereby or thereby, except 

(i) such consents, authorizations, approvals, filings or other acts as have been made or obtained, as applicable, and are in
full force and effect, 
 (ii) the filing of UCC and PPSA financing statements, 

(iii) filing of the Patent Security Agreements, Trademark Security Agreements, and Copyright Security Agreement with the United
States Patent and Trademark Office and the United States Copyright Office and the Canadian Intellectual Property Office, the UK Intellectual Property office, the European Patents Office, the relevant intellectual property register of the EU Office
of Harmonization for the Internal Market and any other intellectual property register or authority or other national intellectual property registers as may be available for the purpose, 

(iv) filings or other actions listed on Schedule 6.1(f), and 

(i) registration of the particulars of the English Security Documents (and any other Security Documents entered into by a UK
Loan Party) at Companies House in England and Wales under section 859A of the Companies Act 2006 and payment of associated fees and 

(ii) such consents, authorizations, approvals, filings or other acts the failure of which to be obtained or made could not
reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 
 (g) Ownership; Subsidiaries.
Schedule 6.1(g) (as such Schedule may be updated from time to time to reflect changes resulting from transactions permitted under this Agreement) sets forth the legal name (within the meaning of
Section 9-503 of the UCC), the Persons that own the Equity Interests of each such Loan Party (other than the Borrower), and the number of Equity Interests owned by each such Person. As of the Closing
Date, the Borrower has no Subsidiaries other than those specifically disclosed on Schedule 6.1(g), and all of the outstanding Equity Interests in such Subsidiaries have been validly issued, are fully paid and nonassessable and are
owned directly or indirectly by a Loan Party in the amounts specified on 

  
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 Schedule 6.1(g) free and clear of all Liens other than Liens permitted pursuant to
Section 8.8. As of the Closing Date, the Borrower has no equity investments in any other corporation or entity other than those specifically disclosed on Schedule 6.1(g). All of the outstanding Equity Interests in the
Borrower have been validly issued and are fully paid and nonassessable. 
 (h) Solvency. The Loan Parties, taken as a whole, are
Solvent and no procedure, act or filing described as an “Insolvency Event” has taken place with respect to any Loan Party. As of the Closing Date, each UK Loan Party is Solvent. 

(i) Financial Data. Borrower has provided to Agent complete and accurate copies of the Historical Financials. The Historical Financials
have been prepared in accordance with GAAP consistently applied throughout the periods involved and fairly present, in all material respects, the financial position, results of operations and cash flows of the Loan Parties and their Subsidiaries for
each of the periods covered. Since December 31, 2019, there has been no change, occurrence, development or event, which has had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

(j) Accuracy and Completeness of Information. All written factual data, reports and written factual information (other than any
projections, estimates and information of a general economic or industry specific nature) concerning the Loan Parties and their Subsidiaries that has been furnished by or on behalf of any Loan Party to Agent or any Lender in connection with the
transactions contemplated hereby, when taken as a whole, are correct in all material respects as of the date of certification of such data, reports and information, and do not contain any untrue statement of a material fact or omit to state a
material fact necessary in order to make the statements contained therein not materially misleading in light of the circumstances under which such statements are made at such time. 

(k) Legal and Trade Name. As of the Closing Date, during the past year, none of the Loan Parties has been known by or used any legal
name or, except as such usage could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, any trade name or fictitious name, except for its name as set forth in the introductory paragraph and on the
signature page of this Agreement or the Guaranty and Security Agreement, as applicable, which is the exact correct legal name of such Loan Party. 

(l) [Reserved]. 
 (m)
Investment Company. None of the Loan Parties is an “investment company,” or an “affiliated person” of, or “promoter” or “principal underwriter” for, an “investment company,” as such terms are
defined in the Investment Company Act of 1940, as amended. 
 (n) Margin Stock. None of the Loan Parties is engaged principally, or
as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying “margin stock” as that term is defined in Regulation U of the Federal Reserve Board. No part of the proceeds of any Loan will
be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, (i) to purchase or carry Margin Stock or to extend credit to others for the purpose of purchasing or carrying Margin Stock or to refund Indebtedness
originally incurred for such purpose or (ii) for any purpose that entails a violation of, or that is inconsistent with, the provisions of the Regulations of the Board, including Regulations T, U or X. 

  
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 (o) Taxes and Tax Returns. 

(i) Each Loan Party and each of its Subsidiaries has properly completed and timely filed all federal and other material income
tax returns it is required to file and such returns were complete and accurate in all material respects. 
 (ii) All federal
and other material taxes and similar governmental charges required to have been paid by the Loan Parties have been timely paid. 

(iii) No material deficiencies for taxes have been claimed, proposed or assessed by any taxing or other Governmental Authority
against any Loan Party or any of its Subsidiaries which remain unpaid. There are no pending or, to the knowledge of Borrower, threatened audits, investigations or claims by a Governmental Authority for or relating to any material liability of any
Loan Party or any of its Subsidiaries for taxes. 
 (iv) Each Dutch Loan Party is resident for tax purposes in the
Netherlands only, and does not have a permanent establishment or permanent representative outside the Netherlands. 
 (v) Any
fiscal unity (fiscale eenheid) for Dutch tax purposes in which a Loan Party is included, consists of Loan Parties only 
 (p) No
Judgments or Litigation. Except as specified in Schedule 6.1(p), no judgments, orders, writs or decrees are outstanding against any Loan Party or any of its Subsidiaries, nor is there now pending or, to the knowledge of any Loan
Party after due inquiry, any threatened litigation, contested claim, investigation, arbitration, or governmental proceeding by or against any Loan Party or any of its Subsidiaries that 

(i) individually or in the aggregate could reasonably be expected to have a Material Adverse Effect or 

(ii) purports to affect the legality, validity or enforceability of this Agreement, any other Loan Document or the consummation
of the transactions contemplated hereby or thereby. 
 (q) Title to Property. Each Loan Party and each of its Subsidiaries has
(i) valid fee simple title to or valid leasehold interests in all of its Real Property and (ii) good and marketable title to all of its other assets, in each case, except where such failure to have such title, interest or right could not
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. All of such assets are free and clear of Liens except for Permitted Liens. 

  
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 (r) No Other Indebtedness. On the Closing Date and after giving effect to the
transactions contemplated hereby, none of the Loan Parties nor any of their Subsidiaries have any Indebtedness other than Indebtedness permitted under Section 8.1. 

(s) Investments; Contracts. None of the Loan Parties, nor any of their Subsidiaries, 

(i) has committed to make any Investment; 

(ii) is a party to any indenture, agreement, contract, instrument or lease, or subject to any restriction in the Governing
Documents or similar restriction or any injunction, order, restriction or decree; 
 (iii) is a party to any “take or
pay” contract as to which it is the purchaser; or 
 (iv) has material contingent or long term liability, including any
management contracts, 
 in each case, which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.

 (t) Compliance with Laws. On the Closing Date and after giving effect to the transactions contemplated hereby, none of the Loan
Parties nor any of their Subsidiaries is in violation of any Requirement of Law, or is in default with respect to any judgment, writ, injunction or decree of any Governmental Authority, where such violation or default could reasonably be expected to
have, individually or in the aggregate, a Material Adverse Effect. 
 (u) Rights in Collateral; Priority of Liens. All of the
Collateral of each Loan Party is owned or leased by it free and clear of any and all Liens in favor of third parties, other than Liens in favor of Agent, Liens incurred under the ABL Credit Agreement and other Permitted Liens. Upon the proper filing
of the financing and termination statements specified in Section 5.1(a)(viii) and any Mortgage and release specified in Section 5.1(a)(viii), the Liens granted by the Loan Parties pursuant to the Loan Documents constitute
valid, enforceable and perfected first priority Liens on the Collateral (subject only to Permitted Liens which are non-consensual Permitted Liens, permitted purchase money Liens, the interests of lessors in
respect of Capitalized Lease Obligations or ABL Agent with respect to ABL Priority Collateral). 
 (v) ERISA. 

(i) Neither any Loan Party nor any ERISA Affiliate maintains or contributes to any Plan, other than those specified in
Schedule 6.1(v). 
 (ii) Each Loan Party and each ERISA Affiliate have fulfilled all contribution obligations
for each Plan (including obligations related to the minimum funding standards of ERISA and the Code), except for ordinary funding obligations which are not past due, and no application for a funding waiver or an extension of any amortization period
pursuant to Sections 303 and 304 of ERISA or Section 412 of the Code has been made with respect to any Plan. 

  
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 (iii) No Termination Event has occurred nor has any other event occurred
that is likely to result in a Termination Event. Neither a Loan Party or any ERISA Affiliate, nor any fiduciary of any Plan, is subject to any material direct or indirect liability with respect to any Plan under any Requirement of Law or agreement.

 (iv) Neither a Loan Party nor any ERISA Affiliate is required to or reasonably expects to be required to provide security
to any Plan under Section 307 of ERISA or Section 401(a)(29) of the Code, and no Lien exists or could reasonably be expected to arise with respect to any Plan. 

(v) Each Loan Party and each ERISA Affiliate is in compliance in all material respects with all applicable provisions of ERISA
and the Code with respect to all Plans. There has been no prohibited transaction as defined in Section 406 or 407 of ERISA or Section 4975 of the Code with respect to any Plan or any Multiemployer Plan or any trust created thereunder that
could subject any Loan Party or ERISA Affiliate to a material civil penalty pursuant to Section 502(i) of ERISA or a material tax imposed by Section 4975 of the Code (a “Prohibited Transaction”). Each Loan Party and
each ERISA Affiliate have made when due any and all payments required to be made under any agreement or any Requirement of Law applicable to any Plan or Multiemployer Plan. With respect to each Plan and Multiemployer Plan, neither any Loan Party nor
any ERISA Affiliate has incurred any liability to the PBGC or had asserted against it any penalty for failure to fulfill the minimum funding requirements of ERISA or the Code other than for payments of premiums in the ordinary course of business.

 (vi) Each Plan and each trust established thereunder which is intended to qualify under Section 401(a) or 501(a) of
the Code has received a favorable determination or advisory opinion letter from the IRS, and no event has occurred since the date of such determination or advisory opinion letter which could reasonably be expected to adversely affect the qualified
status of such Plan or trust. 
 (vii) The aggregate actuarial present value of all benefit liabilities (whether or not
vested) under each Pension Plan, determined on a plan termination basis, as disclosed in, and as of the date of, the most recent actuarial report for such Pension Plan, does not exceed the aggregate fair market value of the assets of such Pension
Plan as of such date. 
 (viii) Neither any Loan Party nor any ERISA Affiliate has incurred or reasonably expects to incur
any liability (and no event has occurred which, with the giving of notice under Section 4219 of ERISA, would result in any such liability) under Section 4201 or 4243 of ERISA with respect to any Multiemployer Plan. 

(ix) The aggregate withdrawal liability that would be incurred in the event of a complete withdrawal as of the date of this
Agreement by a Loan Party or any ERISA Affiliate from all Multiemployer Plans would not reasonably be expected to have a Material Adverse Effect. 

  
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 (x) There are no actions, suits, claims or other proceedings, either pending
or, to the knowledge of a Responsible Officer, threatened against any Loan Party, or any ERISA Affiliate, or otherwise involving a Plan (other than routine claims for benefits), which could reasonably be expected to be asserted successfully against
any Plan, any Loan Party, or any ERISA Affiliate. To the extent that any Plan is funded with insurance, each Loan Party and each ERISA Affiliate have paid when due all premiums required to be paid. To the extent that any Plan is funded other than
with insurance, it and each ERISA Affiliate have made when due all contributions required to be paid. 
 (w) Intellectual Property.
Set forth on Schedule 6.1(w) is a complete and accurate list of all material Patents and all material or registered Trademarks and Copyrights, and all licenses thereof, of the Loan Parties, showing as of the date hereof the
jurisdiction in which registered, the registration number and the date of registration. Each Loan Party owns or licenses all Patents, Trademarks, Copyrights and other Intellectual Property rights which are reasonably necessary for the operation of
its business. No Loan Party, to its knowledge, has infringed any Patent, Trademark, Copyright or other intellectual property right owned by any other Person by the sale or use of any product, process, method, substance, part or other material now
sold or used, where such sale or use could reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, and no claim or litigation is pending or, to each Loan Party’s knowledge after due inquiry, threatened
against any Loan Party that contests its right to sell or use any such product, process, method, substance, part or other material. 
 (x)
Labor Matters. Schedule 6.1(x) accurately sets forth all labor contracts to which any Loan Party or any of its Subsidiaries is a party as of the Closing Date, and their dates of expiration. There are no existing or, to each Loan
Party’s knowledge after due inquiry, threatened strikes, lockouts or other disputes relating to any collective bargaining or similar labor agreement to which any Loan Party or any of its Subsidiaries is a party which could reasonably be
expected, individually or in the aggregate, to have a Material Adverse Effect. 
 (y) Compliance with Environmental Laws. Except as
to matters that could not reasonably be expected to have a Material Adverse Effect: 
 (i) each Loan Party and each of its
Subsidiaries is in compliance with all applicable Environmental Laws; 
 (ii) there are and have been, no conditions,
occurrences, violations of Environmental Law, or presence or Releases of Hazardous Materials which could reasonably be expected to form the basis of an Environmental Action against any Loan Party, any of its Subsidiaries or affect any real property
used in the business of any Loan Party or any of its Subsidiaries; 
 (iii) there are no pending Environmental Actions
against any Loan Party or any of its Subsidiaries, and no Loan Party or any Subsidiary has received any written notification of any alleged violation of, or liability pursuant to, Environmental Law or responsibility for the Release or threatened
Release of, or exposure to, any Hazardous Materials; and 

  
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 (iv) no Environmental Lien has attached to any Collateral and no conditions
exist that could reasonably be expected to result in the imposition of such a Lien on any Collateral. 
 To the knowledge of each Loan Party, all of the
real property used in the business (including its Equipment) is free, and has at all times been free, of Hazardous Materials, underground storage tanks and underground waste disposal areas except in compliance with applicable Environmental Laws or
in a manner that could not reasonably be expected to have a Material Adverse Effect. 
 (z) Licenses and Permits. Each Loan Party and
each of its Subsidiaries has obtained and maintained all Permits which are necessary or advisable for the operation of its business, except where the failure to possess any of the foregoing could not reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect. 
 (aa) Compliance with Anti-Terrorism Laws. None of the Loan Parties nor any of their
Subsidiaries is any of the following: 
 (i) a Person that is listed in the annex to, or is otherwise subject to the
provisions of, Executive Order No. 13224 on Terrorist Financing effective September 24, 2001 (the “Executive Order”); 

(ii) a Person owned or Controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise
subject to the provisions of, the Executive Order; 
 (iii) a Person with which any Lender is prohibited from dealing or
otherwise engaging in any transaction by any laws with respect to terrorism or money laundering; or 
 (iv) a Person that
commits, threatens or conspires to commit or supports “terrorism” as defined in the Executive Order; or a Person that is named as a “specially designated national and blocked Person” on the most current list published by OFAC at
its official website or any replacement website or other replacement official publication of such list and none of the proceeds of the Term Loans will be, directly or, to the knowledge of Borrower or any of their respective Subsidiaries, indirectly,
offered, lent, contributed or otherwise made available to any Subsidiary, joint venture partner or other Person for the purpose of financing the activities of any Person currently the subject of sanctions administered by OFAC. 

(bb) Government Regulation. None of the Loan Parties nor any of their Subsidiaries is subject to regulation under the Energy Policy Act
of 2005, the Federal Power Act, the Interstate Commerce Act or any other Requirement of Law that limits its ability to incur Indebtedness or to consummate the transactions contemplated by this Agreement and the other Loan Documents. 

  
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 (cc) Material Contracts. Each Material Contract has been duly authorized, executed
and delivered by the applicable Loan Party. Except for matters that could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, each Material Contract of the Loan Parties and their Subsidiaries is in full
force and effect and is binding upon and enforceable against all parties thereto in accordance with its terms, and there exists no default under such Material Contract by any party thereto. 

(dd) Business and Properties. No business of any Loan Party or any of its Subsidiaries is affected by any fire, explosion, accident,
drought, storm, hail, earthquake, embargo, act of God or of the public enemy or other casualty (whether or not covered by insurance) that could reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

(ee) Business Plan. The Business Plan delivered to Agent on the Closing Date were prepared in good faith on the basis of assumptions
which were fair in the context of the conditions existing at the time of delivery thereof, and, with respect to the Business Plan, represented, at the time of delivery, the Loan Parties’ best estimate of their and their Subsidiaries’
future financial performance. 
 (ff) Insurance. The properties and businesses of the Borrower and its Material Subsidiaries are
insured with financially sound and reputable insurance companies not Affiliates of the Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried by companies of similar size engaged in similar businesses and
owning similar properties in localities where the Borrower or the applicable Subsidiary operates (it being acknowledged and agreed by the Agent and the Lenders that the Borrower’s insurance program existing on the Closing Date and any similar
insurance program in effect after the Closing Date shall be deemed to be customary). 
 (gg) Anti-Money-Laundering Laws and
Anti-Corruption Laws. Each Loan Party complied in all material respects and is and has been during the past five (5) years in all material respects with all Anti-Money Laundering Laws and Anti-Corruption Laws, and has instituted and
maintained policies and procedures designed to promote and achieve compliance in all material respects with such Laws. No Loan Party has received any communication (including any oral communication) from any Governmental Authority (acting in its
capacity as such) that has jurisdiction over the respective Loan Party alleging that it is not in compliance with, or may be subject to liability under, any Anti-Money Laundering Laws or Anti-Corruption Laws. 

(hh) Business. As of the Closing Date, the Borrower is engaged directly or through Subsidiaries in the business of providing industrial
services to customers in the petrochemical, refinery, power, pipeline, pulp and paper, steel, and other industries. 
 (ii) Common
Enterprise. The Borrower and its Subsidiaries are engaged in the businesses set forth in Section 6.1(hh) as of the Closing Date. These operations require financing on a basis such that the credit supplied can be made available from
time to time to the Borrower and various of its Subsidiaries, as required for the continued successful operation of the Borrower and its Subsidiaries as a whole. The Borrower has requested the Lenders to make 

  
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 credit available hereunder primarily for the purposes set forth in Section 6.1(hh) and generally
for the purposes of financing the operations of the Borrower and its Subsidiaries. The Borrower and each of its Subsidiaries expects to derive benefit (and the Board of Directors (or other similar governing body) of the Borrower and each of its
Subsidiaries has determined that such Subsidiary may reasonably be expected to derive benefit), directly or indirectly, from a portion of the credit extended by the Lenders hereunder, both in its separate capacity and as a member of the group of
companies, since the successful operation and condition of the Borrower and each of its Subsidiaries is dependent on the continued successful performance of the functions of the group as a whole. The Borrower acknowledges that, but for the agreement
by each of the Guarantors to execute and deliver its Guaranty, the Agent and the Lenders would not have made available the credit facilities established hereby on the terms set forth herein. 

(jj) Covered Entities. No Loan Party is a Covered Entity. 

(kk) Designation as Senior Indebtedness. The Obligations constitute “Designated Senior Indebtedness” or any similar
designation (with respect to indebtedness that having the maximum rights as “senior debt”) under and as defined in any agreement governing any Subordinated Debt and the subordination provisions set forth in each such agreement are legally
valid and enforceable against the parties thereto. 
 (ll) EEA Financial Institution. No Loan Party is an EEA Financial Institution.

 (mm) Beneficial Ownership Certification. As of the Closing Date, in the event a Beneficial Ownership Certification is required to
be delivered on the Closing Date and as of the date that any Beneficial Ownership Certification is delivered pursuant to Section 5.1(k), the information included in such Beneficial Ownership Certification is true and correct in all
respects. 
 (nn) Responsible Officers. The individuals set forth on Schedule 6.1(nn) are Responsible Officers, holding
the offices indicated next to their respective names, as of Closing Date, and such Responsible Officers are, as of the Closing Date, duly elected and qualified officers of the Loan Parties indicated on Schedule 6.1(nn) and are duly
authorized to execute and deliver, on behalf of the respective Loan Party, this Agreement and the other Loan Documents to which such Loan Party is a party. 

(oo) Regulation H. No Real Property with respect to which a Mortgage is granted is a Flood Hazard Property unless: (a) the
applicable Loan Party’s written acknowledgment of receipt of written notification from the Agent (i) as to the fact that such Real Property is a Flood Hazard Property, (ii) as to whether the community in which each such Flood Hazard
Property is located is participating in the National Flood Insurance Program and (iii) such other flood hazard determination forms, notices and confirmations thereof as requested by the Agent and (b) copies of insurance policies or
certificates of insurance of the applicable Loan Party evidencing flood insurance reasonably satisfactory to the Agent and naming the Agent as loss payee on behalf of the Lenders. All flood hazard insurance policies required hereunder have been
obtained and remain in full force and effect, and the premiums thereon have been paid in full. 

  
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 (pp) Canadian Registered Pension Plans. No Loan Party maintains, sponsors,
contributes to, is a party to, or otherwise has any liability (including any contingent liability) or contribution obligations under or in respect of any Canadian Registered Pension Plan. 

(qq) Pensions – UK Loan Parties. Other than in relation to Furmanite International Limited Pension Plan, no UK Loan Party nor any
of its Subsidiaries: 
 (i) is or has at any time in the six years prior to the date of this Agreement been an employer (for
the purposes of sections 38 to 51 of the Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pensions Schemes Act 1993) and is not a scheme within section 38(1)(b) of the Pensions
Act 2004; 
 (ii) no member of the Group is or has at any time been in the six years prior to the date of this Agreement
“connected” with or an “associate” of (as those terms are used in sections 38 and 43 of the Pensions Act 2004 save that for the purposes of this clause, a member of the Group shall not be connected with another company solely by
reason of one or more of its directors or employees being a director of that other company) such an employer. 
 No member of the Group has
at any time in the six years prior to the date of this Agreement been party to an act or omission involving a scheme or employer (both as referred to in paragraphs (i) and (ii) above) which could reasonably be expected to give rise to the issue
(to it or any of its Subsidiaries) of a financial support direction or contribution notice pursuant to section 38 or 43 of the Pensions Act 2004 or fine by the Pensions Regulator. 

(rr) Centre of main interests and establishments. As of the Closing Date, in respect of the UK Loan Parties, for the purposes of
Regulation (EU) 2015/848 of 20 May 2015 on insolvency proceedings (recast) (as the same may be retained added to or modified by the European Withdrawal Act 2018 or any statutory instrument made under such Act the “Regulation”), its
centre of main interest (as that term is used in Article 3(1) of the Regulation) is situated in England and Wales and it has no “establishment” (as that term is used in Article 2(h) of the Regulations) in any other jurisdiction. 

(ss) Collateral located in Quebec. As of the Closing Date, the fair market value of the tangible Collateral located in Quebec does not
exceed the amount of CAD $750,000. 

  
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 ARTICLE VII. 

AFFIRMATIVE COVENANTS OF THE BORROWER 

The Borrower covenants and agrees that, until Payment in Full of all Obligations: 

7.1 Existence. The Loan Parties shall, and shall cause each of their Subsidiaries to, 

(a) maintain their Entity existence, except in connection with a transaction expressly permitted under Section 8.3 or in
the case of any Entity other than a Borrower, where the failure to do so could not reasonably be expected to have a Material Adverse Effect, 

(b) maintain in full force and effect all material licenses, bonds, franchises, leases, Trademarks, qualifications and authorizations to do
business, and all material Patents, contracts and other rights necessary or advisable to the profitable conduct of its businesses, except 

(i) as expressly permitted by this Agreement, 

(ii) such as may expire, be abandoned or lapse in the ordinary course of business or 

(iii) as could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, and 

(c) continue in the same or reasonably related lines of business as presently conducted by it. 

7.2 Maintenance of Property. The Loan Parties shall, and shall cause each of their Subsidiaries to, keep all assets used or
useful and necessary to its business in good working order and condition (ordinary wear and tear and casualty and condemnation excepted) in accordance with its past operating practices. 

7.3 [reserved]. 

7.4 Taxes. The Loan Parties shall, and shall cause each of their Subsidiaries to, pay, before the same becomes delinquent or in
default, 
 (a) all federal and other material Taxes imposed against it or any of its property, and 

(b) all lawful claims that, if unpaid, might by law become a Lien upon its property; provided that, such payment and discharge
will not be required with respect to any Tax or claim if 
 (i) the validity thereof, or to the extent the amount thereof, is
being contested in good faith, by appropriate proceedings diligently conducted, and 
 (ii) an adequate reserve or other
appropriate provision shall have been established therefor as required in accordance with GAAP. 
 7.5 Requirements of Law.
The Loan Parties shall, and shall cause each of their Subsidiaries to, comply with all Requirements of Law applicable to it, including any State Licensing Laws and Environmental Laws, except where the failure to so comply could not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect. 

  
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 7.6 Insurance. Each of the Loan Parties shall, and shall cause each of their
Subsidiaries to maintain, with insurance companies reasonably believed to be financially sound and reputable, insurance in such amounts and against such risks as are customarily maintained by similarly situated companies engaged in the same or
similar businesses operating in the same or similar locations, and cause Agent to be listed as a lender loss payee on property and casualty policies and as an additional insured on liability policies, pursuant to a standard loss payable endorsement
with a standard non-contributory “lender” or “secured party” clause. Borrower will furnish to Agent, upon request, information in reasonable detail as to the insurance so maintained.
Furthermore, the Loan Parties shall: 
 (a) obtain certificates and endorsements reasonably acceptable to the Agent with respect to property
and casualty insurance; 
 (b) cause each insurance policy referred to in this Section 7.6 to provide that it shall not be
cancelled, modified or not renewed (x) by reason of nonpayment of premium except upon not less than 10 days’ prior written notice thereof by the insurer to Agent (giving Agent the right to cure defaults in the payment of premiums) or
(y) for any other reason except upon not less than 30 days’ prior written notice thereof by the insurer to Agent; and 
 (c)
deliver to Agent, prior to the cancellation, modification or non-renewal of any such policy of insurance, a copy of a renewal or replacement policy (or other evidence of renewal of a policy previously
delivered to Agent, including an insurance binder) together with evidence reasonably satisfactory to Agent of payment of the premium therefor. 
 If any
Loan Party fails to obtain and maintain insurance as provided in this Section, or to keep the same in force, Agent, if Agent so elects, may obtain such insurance and pay the premium therefor for Borrower’s account and such expenses so paid
shall be part of the Obligations. Without limitation of the foregoing, if as of the Closing Date or at any time thereafter, all or a portion of the improvements situated on any fee owned Real Property with respect to which a Mortgage is granted are
located within an area designated by the Federal Emergency Management Agency or the Flood Disaster Protection Act of 1973 (P.L. 93-234) as being in a “special flood hazard area” or as having specific
flood hazards, Borrower shall also furnish Agent with flood insurance policies which conform to the requirements of said Flood Disaster Protection Act of 1973 and the National Flood Insurance Act of 1968, as either may be amended from time to time.

 7.7 Books and Records; Inspections. 

(a) The Loan Parties shall, and shall cause each of their Subsidiaries to, maintain books and records (including computer records and
programs) of account pertaining to the assets, liabilities and financial transactions of the Loan Parties and their Subsidiaries in such detail, form and scope as is consistent with good business practice. 

(b) The Loan Parties shall, and shall cause each of their Subsidiaries to, provide Agent and its agents and one representative of each of the
Lenders access to the premises of the Loan Parties and their Subsidiaries at any time and from time to time, during normal business hours and with reasonable notice under the circumstances, and at any time after the occurrence and during the
continuance of a Default or Event of Default, for the purposes of 

  
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 (i) inspecting and verifying the Collateral, 

(ii) inspecting and copying any and all records pertaining thereto, 

(iii) [reserved], and 

(iv) discussing the affairs, finances and business of the Loan Parties and their Subsidiaries with any officer, employee
or director thereof or with the Auditors (subject to such Auditor’s policies and procedures, and the right of the Loan Parties to be present at the discussions with the Auditors). 

Borrowers shall reimburse Agent for the reasonable and documented travel and related expenses of Agent’s employees or, at Agent’s option, of such
outside accountants or examiners as may be retained by Agent to verify or inspect Collateral, records or documents of the Loan Parties and their Subsidiaries; provided that, so long as no Default or Event of Default then exists, the
number verifications and inspections for which Borrowers shall be liable for reimbursement to Agent hereunder shall be limited to one verification and inspection in each calendar year; provided, further, that the
foregoing shall not operate to limit the number of verifications or inspections that Agent may elect to undertake. If Agent’s own employees are used, Borrowers shall also pay such reasonable per diem allowance as Agent may from time to time
establish, or, if outside examiners or accountants are used, Borrowers shall also pay Agent such sum as Agent may be obligated to pay as fees for such services. Notwithstanding anything to the contrary in this Section 7.7, none of
the Borrower or any of its Subsidiaries will be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter that (a) constitutes non-financial trade secrets or non-financial proprietary information, (b) in respect of which disclosure is prohibited by law or any binding agreement or (c) is
subject to attorney-client or similar privilege or constitutes attorney work product; provided, that in the event the Borrower does not provide information in reliance on clauses (b) and (c) of this
sentence, the Borrower shall provide notice to the Agent (to the extent permitted to do so) that such information is being withheld and the Borrower shall use commercially reasonable efforts to obtain consent to provide such information or otherwise
to communicate, to the extent both feasible and permitted under applicable law, rule, regulation or confidentiality obligation or without waiving such privilege, as applicable, the applicable information. 

7.8 Notification Requirements. The Loan Parties shall timely give Agent and each Lender the following notices and other
documents: 
 (a) Notice of Defaults. Promptly, and in any event within three (3) Business Days after any Responsible Officer of
the Borrower obtains actual knowledge of the occurrence of a Default or Event of Default, a certificate of a Responsible Officer specifying the nature thereof and Borrower’s proposed response thereto, each in reasonable detail. 

  
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 (b) Proceedings or Changes. Promptly, and in any event within five (5) Business Days
after any Responsible Officer of Borrower obtains actual knowledge of any actual change, development or event which has had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, a written statement
describing such proceeding, change, development or event and any action being taken by such Loan Party or any of its Subsidiaries with respect thereto. 

(c) Changes. 

(i) Promptly, and in any event within five (5) Business Days after (A) a change in the location of any Collateral from the
locations specified in Schedule 6.1(b) or (B) a change of the legal name of any Loan Party, and 
 (ii)
prior to a change to the Entity structure or jurisdiction of organization of any Loan Party, in each case, together with a written statement describing such change, 

together with, in the case of clauses (i)(B) and (ii), copies of the Governing Documents of such Loan Party, certified by the
Secretary of State (or equivalent) in each relevant jurisdiction, evidencing such change. If any notice is delivered with respect to Schedule 6.1(b) pursuant to this Section 7.8, such notice shall be deemed to be an
addition to such Schedule. 
 (d) ERISA Notices. 

(i) Promptly, and in any event within five (5) Business Days after a Termination Event has occurred, a written statement
of a Responsible Officer of Borrower describing such Termination Event and any action that is being taken with respect thereto by any Loan Party or ERISA Affiliate, and any action taken or threatened by the Internal Revenue Service, the Department
of Labor or the PBGC; 
 (ii) promptly, and in any event within five (5) Business Days after the filing thereof with the
Internal Revenue Service, a copy of each funding waiver request filed with respect to any Plan subject to the funding requirements of Section 412 of the Code and all communications received by any Borrower or ERISA Affiliate with respect to
such request; 
 (iii) promptly, and in any event within five (5) Business Days after receipt by any Loan Party or ERISA
Affiliate of the PBGC’s intention to terminate a Pension Plan or to have a trustee appointed to administer a Pension Plan, a copy of each such notice; 

(iv) promptly, and in any event within five (5) Business Days after the occurrence thereof, notice (including the nature
of the event and, when known, any action taken or threatened by the Internal Revenue Service or the PBGC with respect thereto) of: 

(A) any Prohibited Transaction, 

  
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 (B) any cessation of operations (by any Loan Party or ERISA Affiliate) at a
facility in the circumstances described in Section 4062(e) of ERISA, 
 (C) a failure by any Loan Party or ERISA
Affiliate to make a payment to a Plan required to avoid imposition of a Lien under Section 302(f) of ERISA or Section 412(n) of the Code, or the imposition of such a Lien, 

(D) the adoption of an amendment to a Plan requiring the provision of security to such Plan pursuant to Section 307 of
ERISA or Section 401(a)(29) of the Code, or 
 (E) any change in the actuarial assumptions or funding methods used for
any Plan where the effect of such change is to increase materially or reduce materially the unfunded benefit liability or obligation to make periodic contributions; 

(v) promptly upon and in any event within five (5) Business Days after the request of Agent, each annual report (IRS Form
5500 series) and all accompanying schedules, the most recent actuarial reports, the most recent financial information concerning the financial status of each Plan administered or maintained by any Loan Party or ERISA Affiliate, and schedules showing
the amounts contributed to each Pension Plan by or on behalf of any Loan Party or ERISA Affiliate in which any of its personnel participate or from which such personnel may derive a benefit, and each Schedule B (Actuarial Information) to the annual
report filed by such Loan Party or ERISA Affiliate with the Internal Revenue Service with respect to each such Plan; 
 (vi)
promptly upon and in any event within five (5) Business Days after the filing thereof, copies of any Form 5310, or any successor or equivalent form to Form 5310, filed with the Internal Revenue Service in connection with the termination of any
Plan, and copies of any standard termination notice or distress termination notice filed with the PBGC in connection with the termination of any Pension Plan; 

(vii) promptly, and in any event within five (5) Business Days after receipt thereof by any Loan Party or ERISA Affiliate,
notice and demand for payment of withdrawal liability under Section 4201 of ERISA with respect to a Multiemployer Plan; 

(viii) promptly, and in any event within five (5) Business Days after receipt thereof by any Loan Party or ERISA
Affiliate, notice by the Department of Labor of any penalty, audit, investigation or purported violation of ERISA with respect to a Plan; 

(ix) promptly, and in any event within five (5) Business Days after receipt thereof by any Loan Party or ERISA Affiliate,
notice by the Internal Revenue Service or the Treasury Department of any income tax deficiency or delinquency, excise tax penalty, audit or investigation with respect to a Plan; and 

  
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 (x) promptly, and in any event within five (5) Business Days after
receipt thereof by any Loan Party or ERISA Affiliate, notice of any administrative or judicial complaint, or the entry of a judgment, award or settlement agreement, in either case with respect to a Plan that could reasonably be expected to have a
Material Adverse Effect. 
 (e) Material Contracts. Concurrently with the delivery of any Compliance Certificates pursuant to
Section 7.11(d), notice of any Material Contract that has been terminated or amended in any material respect, together with a copy of any such amendment and delivery of a copy of any new Material Contract that has been entered
into, in each case since the later of the Closing Date or delivery of the prior Compliance Certificate; provided that the Borrower Agent shall not be required to separately deliver copies of any Material Contracts (or amendments
thereto) that are included in materials otherwise filed with the SEC. 
 (f) Environmental Matters. 

(i) Promptly provide notice of any Release of Hazardous Materials in any reportable quantity from or onto real property owned
or operated by a Loan Party or any of its Subsidiaries that could reasonably be expected to have a Material Adverse Effect, and 

(ii) Promptly, but in any event within 5 Business Days of its receipt thereof, provide written notice of any of the following:
(i) an Environmental Lien has been filed against any of the real or personal property of a Loan Party of one of its Subsidiaries, (ii) commencement of any Environmental Action or written notice that an Environmental Action will be filed
against a Loan Party or one of its Subsidiaries, or (iii) written notice of a violation, citation, or other administrative order from a Governmental Authority, in each case which could reasonably be expected to have a Material Adverse Effect.

 (g) Insurance. Promptly, and in any event within five (5) Business Days after receipt by a Loan Party of notice or knowledge
thereof, of the actual or intended cancellation of, or any material and adverse change in coverage or other terms of, any insurance required to be maintained by the Loan Parties pursuant to this Agreement or any other Loan Document. 

7.9 [Reserved]Independent Director. 

The Borrower
will use commercially reasonable efforts to increase to the size of its board of directors and the addition of an independent director to the board that is acceptable to the Agent, with any such decisions subject to evaluation, review and approval
of the board of directors of the Borrower in its reasonable discretion. 

7.10 Qualify to Transact Business. The Loan Parties shall, and shall cause each of their Subsidiaries to, qualify to transact
business as a foreign corporation, limited partnership or limited liability company, as the case may be, in each jurisdiction where the nature or extent of its business or the ownership of its property requires it to be so qualified or authorized
and where failure to qualify or be authorized could reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

  
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 7.11 Financial Reporting. Borrower shall deliver to Agent the following: 

(a) Annual Financial Statements. Within ninety (90) days after the end of each fiscal year, beginning with the fiscal year ended
December 31, 2020, the annual audited and certified consolidated Financial Statements of the Borrower and its Subsidiaries for such fiscal year, setting forth in comparative form the figures for the previous fiscal year, all in reasonable
detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing, which report and opinion shall be prepared in accordance with generally
accepted auditing standards and shall be unqualified as to going concern and scope of audit (except for any such qualification pertaining to impending debt maturities of the Term Loans, the ABL Facility or the 2017 Senior Convertible Notes occurring
within 12 months of such audit or any breach of any financial covenant thereunder). 
 (b) Quarterly Financial Statements. Within
forty-five (45) days after the end of each fiscal quarter, commencing with the fiscal quarter ended December 31, 2020, 

(i) the interim consolidated Financial Statements of the Borrower and its Subsidiaries as at the end of such quarter and for
the fiscal year to date, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year (it being understood and agreed that,
notwithstanding the foregoing, such comparison shall not be required for any period occurring prior to the Closing Date), all in reasonable detail and certified by a Responsible Officer of the Borrower as fairly presenting the financial condition,
results of operations and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes and 

(ii) a narrative discussion of the financial condition of the Borrower and its Subsidiaries and results of operations and the
liquidity and capital resources for the fiscal quarter then ended, prepared by a Responsible Officer of Borrower. 
 (c) Monthly
Financial Statements. Within thirty (30) days after the end of each fiscal month (except for any month ending at the end of a fiscal quarter), commencing with the fiscal month ended November 30, 2020, 
 (i) the
interim consolidated Financial Statements of the Borrower and its Subsidiaries as at the end of such month and for the fiscal year to date, and 

(ii) a certification by a Responsible Officer of Borrower that such Financial Statements have been prepared in accordance with
GAAP and are fairly stated in all material respects (subject to normal year-end audit adjustments). 

  
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 (d) Compliance Certificate. Together with the delivery of each of the financial
statements referred to in Section 7.11(a) and Section 7.11(b), a compliance certificate, substantially in the form of Exhibit H (a “Compliance Certificate”), signed by a
Responsible Officer of Borrower, with an attached schedule of computations calculating (A) Capital Expenditures each fiscal quarter and (B) the Net Leverage Ratio as of the end of such fiscal quarter. 

(e) Lender Calls. Within 5 Business Days after the quarterly financial statements are to be delivered pursuant to
Section 7.11(b) (or, at the reasonable request of the Agent, within 5 Business Days after the monthly financial statements are delivered pursuant to Section 7.11(c)), participate in conference
calls or meetings with the Agent and the Lenders, such calls or meetings to be held at such time as may be agreed to by the Borrower and the Agent, to discuss the financial condition and results of operations of the Borrower and the Subsidiaries for
the most recently-ended period for which financial statements have been delivered pursuant to Section 7.11(a), Section 7.11(b) or Section 7.11(c), as applicable. 

(f) ABL Reporting. At the request of the Agent, any documents provided by the Loan Parties to the ABL Agent in accordance with the
reporting requirements under the ABL Credit Agreement. 
 (g)
[reserved].
Weekly Reporting. Within three
(3) Business Days of the beginning of each calendar week, commencing with the week starting
October 25, 2021 (provided that the first such delivery shall be due on October 29, 2021) ,a thirteen-week cash flow report (a “13
Week Cash Flow Report”) for such week and each of the following twelve weeks together with, after delivery of the first 13 Week Cash Flow Report, a
line-by-line comparison of actual cash receipts versus the previously delivered 13 Week Cash Flow Report, in each case, in form and substance reasonably acceptable to
the Agent. 
 (h) [reserved]. 

(i) Preliminary Business Plan. Beginning with December 31, 2021, not later than December 31 of each year, the Preliminary
Business Plan of the Loan Parties and their Subsidiaries. 
 (j) Business Plan. Not later than the earlier of (x) ten (10)
Business Days after certification by the Board of Directors of Borrower and (y) February 28 of each year, the Business Plan of the Loan Parties and their Subsidiaries. 

(k) SEC Reports. As soon as available, but not later than five (5) Business Days after the same are sent or filed, as the case may
be, copies of all financial statements and reports that any Loan Party sends to any of the owners of its Equity Interests or files with the Securities and Exchange Commission or any other Governmental Authority and not otherwise required to be
delivered to the Agent hereto. 
 (l) Other Financial Information. Promptly after the request by Agent, such additional financial
statements and other related data and information as to the business, operations, results of operations, assets, collateral, liabilities or condition (financial or otherwise) of any Loan Party or any of its Subsidiaries as Agent may from time to
time reasonably request. 

  
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 As to any information contained in materials furnished pursuant to Section 7.11(k), the
Borrower shall not be separately required to furnish such information under clauses under Section 7.11(a), 7.11(b) and 7.11(c) above, but the foregoing shall not be in derogation of the obligation of
the Borrower to furnish the information and materials described in Sections 7.11(a), 7.11(b) and 7.11(c) at the times specified therein. 

Documents required to be delivered pursuant to Sections 7.11(a), 7.11(b), 7.11(c) or 7.11(k) (to the
extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date 

(i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website
address: https://www.teaminc.com; or 
 (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet
website, if any, to which each Lender and the Agent have access (whether a commercial, third-party website or whether sponsored by the Agent); 

provided that the Borrower shall notify (by fax or e-mail transmission) the Agent and each Lender of the
posting of any such documents and provide to the Agent by e-mail electronic versions (i.e., soft copies) of such documents. The Agent shall have no obligation to request the delivery or to maintain copies of
the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its
copies of such documents. 
 7.12 Payment of Liabilities. The Loan Parties shall, and shall cause each of their Subsidiaries
to, pay and discharge, in the ordinary course of business, all obligations and liabilities (including tax liabilities and other governmental charges), except where 

(i) the same may be contested in good faith by appropriate proceedings and for which adequate reserves with respect thereto have been
established in accordance with GAAP or 
 (ii) the failure to make payment could not reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect. 
 7.13 ERISA. The Loan Parties shall, and shall cause each of their
Subsidiaries and ERISA Affiliates to, 
 (a) maintain each Plan intended to qualify under Section 401(a) of the Code so as to satisfy
the qualification requirements thereof in all material respects, 
 (b) contribute, or require that contributions be made, in a timely
manner 
 (i) to each Plan in amounts sufficient (x) to satisfy the minimum funding requirements of Section 302 of
ERISA or Section 412 of the Code, if applicable, (y) to satisfy any other Requirements of Law and (z) to satisfy the terms and conditions of each such Plan, and 

  
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 (ii) to each Foreign Plan in amounts sufficient to satisfy the minimum
funding requirements of any applicable law or regulation, without any application for a waiver from any such funding requirements, 
 (c)
cause each Plan or Foreign Plan to comply in all material respects with applicable law (including all applicable statutes, orders, rules and regulations) and 

(d) pay in a timely manner, in all material respects, all required premiums to the PBGC. 

As used in this Section 7.13, “Foreign Plan” means any Plan that is subject to any Requirement of Law other than ERISA or
the Code and that is maintained, or otherwise contributed to, by a Loan Party or any of its Subsidiaries for the benefit of employees outside the United States and Canada. 

7.14 Environmental Matters. The Loan Parties shall, and shall cause each of their Subsidiaries to, conduct its business so as to
comply in all material respects with and address all liabilities under all applicable Environmental Laws and obtain and renew all Permits, except, in each case, to the extent the failure to do so could not reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect. 
 7.15 Intellectual Property. The Loan Parties shall, and shall
cause each of their Subsidiaries to, do and cause to be done all things necessary to preserve and keep in full force and effect all of its material registrations of Trademarks, Patents and Copyrights. 

7.16 Solvency. The Loan Parties, taken as a whole, shall be and remain Solvent at all times. 

7.17 [Reserved]. Access to
Employees. At the request of the Agent (and in any event, no later than Tuesday, October 26, 2021), the Borrower shall cause each of the following to meet with representatives of the Agent and Lenders: as may
be reasonably requested by the Agent, senior employees that are the head of any business line or division and senior members of the internal finance teams of the Borrower and its Subsidiaries.

 7.18 [Reserved]. 

7.19 Anti-Money Laundering Laws and Anti-Corruption Laws. Each of the Loan Parties shall comply with all applicable Anti-Money
Laundering Laws and Anti-Corruption Laws and shall maintain all of the necessary Permits required pursuant to any applicable Anti-Money Laundering Laws and Anti-Corruption Laws in order for such Loan Party to continue the conduct of its business as
currently conducted, and will maintain policies procedures, and internal controls designed to promote and achieve compliance with such applicable laws and with the terms and conditions of this Agreement. 

  
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 7.20 Formation of Subsidiaries; Further Assurances. 

Each Loan Party will, at the time that any Loan Party forms or acquires any direct or indirect Material Subsidiary organized under the laws of a Security
Jurisdiction after the Closing Date (including in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws), within thirty (30) days of such event (or such later
date as permitted by Agent in its reasonable discretion) (a) cause such new Material Subsidiary to provide to Agent a joinder or similar document to the applicable Security Documents, (b) deliver to Agent financing statements with respect
to such Material Subsidiary, a Pledged Interests Addendum with respect to the Equity Interests of such Material Subsidiary (to the extent the shareholder of such Material Subsidiary is also a Loan Party), and such other security agreements
(including Mortgages with respect to any Real Property owned in fee of such new Material Subsidiary), all in form and substance reasonably satisfactory to Agent, necessary to create the Liens intended to be created under the Security Documents;
provided, that the joinder to this Agreement or the Security Documents, shall not be required to be provided to Agent with respect to any Subsidiary that is not organized under the laws of a Security Jurisdiction;
provided, further, that, subject to Section 7.21, Team Industrial Services (UK) Limited shall not be required to become a Loan Party, (c) provide, or cause the applicable Loan Party to provide, to
Agent a Pledged Interests Addendum and appropriate certificates and powers or financing statements, pledging all of the direct or beneficial ownership interest in such new Material Subsidiary (to the extent the shareholder of such Material
Subsidiary is also a Loan Party); provided, that only sixty-five percent (65%) (or such higher percentage that would not cause an adverse tax impact on any Loan Party pursuant to Section 245A of the Code and Treasury Regulation Section 1.956-1) of the total outstanding Voting Interests of any first tier CFC (other than a Protected CFC) (and none of the Equity Interests of any Subsidiary of such CFC) shall be required to be pledged
(which pledge, if reasonably requested by Agent, shall be governed by the laws of the jurisdiction of such Subsidiary), and (d) provide to Agent all other documentation, including one or more opinions of counsel reasonably satisfactory to
Agent, which, in its reasonable discretion, is appropriate with respect to the execution and delivery of the applicable documentation referred to above (including policies of title insurance, flood certification documentation or other documentation
with respect to all Real Property owned in fee and subject to a Mortgage). Without limiting the foregoing, each Loan Party will, and will cause each Subsidiary to, execute and deliver, or cause to be executed and delivered, to the Agent such
documents, agreements and instruments, and will take or cause to be taken such further actions (including the filing and recording of financing statements and other documents), which may be required by law or which the Agent may, from time to time,
reasonably request to carry out the terms and conditions of this Agreement and the other Loan Documents and, to ensure perfection and priority of the Liens created or intended to be created by the Collateral Documents, all at the expense of the Loan
Parties; provided that no such action shall be required with respect to Collateral located in Quebec unless the aggregate fair market value of tangible Collateral in Quebec exceeds CAD $750,000. 

7.21 Post-Closing Covenants. As promptly as practicable, and in any event within the applicable time period set forth on
Schedule 7.21 (or such longer time as Agent may agree in its sole discretion), each Loan Party will deliver all documents and take all actions set forth on Schedule 7.21. 

7.22 [Reserved]. 

7.23 Residency for Dutch Tax Purposes. Each Dutch Loan Party will remain resident for tax purposes in the Netherlands only and
not create a permanent establishment or permanent representative
outside the Netherlands, unless with the prior written consent of the Agent. 

  
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 7.24 Fiscal Unity for Dutch Tax Purposes. Any fiscal unity (fiscale
eenheid) for Dutch corporate income tax purposes in which a Loan Party is included, will consist of Loan Parties only, unless with the prior written consent of the Agent. 

7.25 Allocation of Tax Losses upon Termination of Fiscal Unity for Dutch Tax Purposes. If, at any time, a Loan Party is member
of a fiscal unity (fiscale eenheid) for Dutch corporate income tax purposes (vennootschapsbelasting) and such fiscal unity is, in respect of that Loan Party, terminated (verbroken) or disrupted (beëindigd) as a
result of or in connection with the Agent or a Lender enforcing its rights under any Loan Document, such Loan Party shall, at the request of the Agent, together with the parent company (moedermaatschappij) or deemed parent company
(aangewezen moedermaatschappij) of that fiscal unity, for no consideration and as soon as reasonably practicable, lodge a request with the relevant Governmental Authority to allocate and surrender any tax losses (within the meaning of Article
20 of the Dutch Corporate Income Tax Act (Wet op de vennootschapsbelasting 1969)) to the Loan Party leaving the fiscal unity, to the extent such tax losses are attributable (toerekenbaar) to that Loan Party (within the meaning of
Article 15af of the Dutch Corporate Income Tax Act (Wet op de vennootschapsbelasting 1969)). 
 ARTICLE VIII. 

NEGATIVE COVENANTS 
 The
Borrower covenants and agrees that, until Payment in Full of all Obligations: 
 8.1 Indebtedness. The Loan Parties will not,
and will not permit any of their Subsidiaries to, directly or indirectly, at any time create, incur, assume or suffer to exist any Indebtedness other than: 

(a) Indebtedness under the Loan Documents; 

(b) Indebtedness existing on the Closing Date and set forth in Schedule 8.1(b), and any Refinancing Indebtedness in respect of
such Indebtedness; 
 (c) Indebtedness (including Capitalized Lease Obligations and purchase money Indebtedness) to finance all or any part
of the purchase, lease, construction, installment, repair or improvement of property, plant or equipment or other fixed or capital assets in an aggregate principal amount not to exceed the greater of (i) $15,000,000 and (ii) an amount equal to
3.0% of Consolidated Tangible Assets at any time outstanding; provided that such Indebtedness is incurred within 90 days after the purchase, lease, construction, installation, repair or improvement of the property that is the subject
of such Indebtedness; 
 (d) Bank Product Obligations (other than arising under Hedging Agreements) and Indebtedness under Permitted Hedging
Agreements; 
 (e) Indebtedness comprised of Permitted Intercompany Advances; 

  
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 (f) Indebtedness in respect of performance bonds, bid bonds, appeal bonds, surety bonds and
completion guarantees and similar obligations, in each case, provided in the ordinary course of business; 
 (g) Guarantees of Indebtedness
of the Loan Parties or their Subsidiaries permitted to be incurred under this Agreement; provided that if the Indebtedness being guaranteed is subordinated to the Obligations, such guarantee shall be subordinated to the guarantee of
the Obligations on terms at least as favorable to the Lenders as those contained in the subordination of such Indebtedness; 
 (h) Acquired
Indebtedness in an amount not to exceed $15,000,000 at any one time; 
 (i) endorsement of negotiable instruments for deposit or collection
in the ordinary course of business; 
 (j) Indebtedness incurred in the ordinary course of business in respect of 

(i) overdraft facilities, employee credit card programs, netting services, automatic clearinghouse arrangements and other cash
management and similar arrangements, and in connection with securities and commodities arising in connection with the acquisition or disposition of Permitted Investments and not any obligation in connection with margin financing, 

(ii) up to $5,000,000 in the aggregate of any bankers’ acceptance, bank guarantees or letter of credit facilities, in each
case, in the ordinary course of business, 
 (iii) the endorsement of instruments for deposit or the financing of insurance
premiums, 
 (iv) deferred compensation or similar arrangements to the employees of the Loan Parties or any of their
Subsidiaries, 
 (v) obligations to pay insurance premiums or take or pay obligations contained in supply agreements and 

(vi) Indebtedness owed to any Person providing property, casualty, business interruption or liability insurance to any Loan
Party or any of its Subsidiaries, so long as such Indebtedness shall not be in excess of the amount of the unpaid cost of, and shall be incurred only to defer the cost of the annual premium for such insurance; or 

(k) ABL Obligations in an amount not to exceed the ABL Cap Amount (as defined in the Intercreditor Agreement); 

(l) [reserved]; 

  
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 (m) Indebtedness of the Borrower or any Material Subsidiary in the form of purchase price
adjustments or indemnification incurred in connection with the any Permitted Acquisition or any disposition permitted under Section 8.5; 

(n) Subordinated Debt and Contingent Acquisition Indebtedness in an aggregate amount not to exceed $15,000,000 at any time outstanding; 

(o) the 2017 Senior Convertible Notes; and 

(p) Indebtedness of Subsidiaries of the Borrower that are not organized under the laws of a Security Jurisdiction in an aggregate amount not
to exceed $10,000,000 at any time outstanding; and 
 (q) Indebtedness not otherwise permitted in this Section 8.1 in an
aggregate amount not to exceed $7,500,000 at any time outstanding; provided, that 
 (i) the Net Leverage
Ratio for each of the two consecutive fiscal quarters of the Borrower occurring after the Closing Date but immediately prior to such incurrence is less than 4.00 to 1.00 and 

(ii) to the extent such Indebtedness is secured by a Lien on Collateral, such Lien must be junior to the Lien that secures the
Obligations. 

Notwithstanding
 the foregoing, on and after the Amendment No. 1 Effective Date and until the occurrence of the Catch
Up Interest Payment Date, the Loan Parties will not, and will not permit any of their Subsidiaries to, directly or indirectly, at any time create, incur, assume or suffer to exist any Indebtedness for borrowed money other than any such Indebtedness
existing as of the Amendment No. 1 Effective Date and the ABL Obligations. Prior to the Catch Up
Interest Payment Date, the Loan Parties will not, and will not permit any of their Subsidiaries to, directly or indirectly, guarantee or otherwise become an obligor in respect of the 2017 Senior Convertible Notes (other than the
Borrower). 
 8.2 [Reserved]. 

8.3 Entity Changes, Etc. The Loan Parties will not, and will not permit any of their Subsidiaries to, directly or indirectly,
divide, merge, amalgamate or consolidate with any Person, liquidate, wind-up or dissolve itself (or suffer any liquidation or dissolution) except that, so long as no Default exists or would result therefrom:

 (a) any such Subsidiary may merge with or liquidate or dissolve into 

(i) the Borrower, provided that the Borrower shall be the continuing or surviving Person, or 

(ii) any one or more Subsidiaries, provided that when a subsidiary which is not a Loan Party merges with a Loan
Party, the Loan Party shall be the continuing or surviving Person and when a Loan Party liquidates or dissolves, it shall liquidate and dissolve into another Loan Party; 

  
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 (b) any Subsidiary may sell all or substantially all of its assets (upon voluntary
liquidation or otherwise), to the Borrower or to a Guarantor (or if such Subsidiary is not a Guarantor to another Subsidiary which is not a Guarantor); 

(c) any Subsidiary may change its jurisdiction of organization, provided 

(i) such Person provides the Agent with at least twenty (20) days prior written notice of change, 

(ii) no Default exists at such time; and 

(iii) if such Person is organized in the U.S., Canada, England or the Netherlands, 

(A) such new jurisdiction is in the U.S., Canada, England or the Netherlands and 

(B) if such Person is a Loan Party, such Person shall deliver such Security Documents and any other documentation (including
opinions) as may be requested by the Agent to ensure the Agent maintains a valid, enforceable and perfected first priority Lien on the Collateral of such Person (subject only to Permitted Liens which are
non-consensual Permitted Liens, permitted purchase money Liens, or the interests of lessors in respect of Capitalized Lease Obligations); and 

(d) any Subsidiary may change in legal form if such change is not materially disadvantageous to the Lenders. 

8.4 Change in Nature of Business. The Loan Parties will not, and will not permit any of their Subsidiaries to, at any time make
any material change in the nature of their business as carried on at the date hereof or enter into any new line of business that is not similar, corollary, related, ancillary, incidental or complementary, or a reasonable extension, development or
expansion thereof or ancillary thereto the business as carried on as of the date hereof. 
 8.5 Sales, Etc. of Assets. The
Loan Parties will not, and will not permit any of their Subsidiaries to, directly or indirectly, sell, transfer or otherwise dispose of any of its assets (including by an allocation of assets among newly divided limited liability companies pursuant
to a “plan of division”) except: 
 (a) sales of Inventory in the ordinary course of business; 

(b) the sale or other disposition of obsolete or worn out property, or other property no longer used or useful in the conduct of business, in
each case, disposed of in the ordinary course of business (and not part of an accounts receivable financing, factoring or similar transaction (other than by a Subsidiary which is not a Loan Party if done in ordinary course)); 

  
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 (c) the sale, transfer or other disposition of cash and Cash Equivalents in the ordinary
course of business; 
 (d) sales, transfers or other dispositions of property that are a settlement of or payment in respect of any property
or casualty insurance claim or any taking under power of eminent domain or by condemnation or similar proceeding of or relating to any property or asset of any Loan Party or any Subsidiary; 

(e) non-exclusive licenses of Intellectual Property in the ordinary course of business and not
interfering in any material respect with the business of the Loan Parties and their Subsidiaries; 
 (f) the abandonment of Intellectual
Property (or lapse of any registration or application in respect of Intellectual Property) that is, in the reasonable good faith judgment of Borrower, no longer economically practicable to maintain or useful in the conduct of the business of the
Loan Parties and their Subsidiaries; and 
 (g) dispositions of equipment or real property to a bona fide third party in an amount not to
exceed $2,500,000 in any calendar year, to the extent that 
 (i) such property is exchanged for credit against the purchase
price of similar replacement property, 
 (ii) the proceeds of such disposition are reasonably promptly applied to the
purchase price of such replacement property or 
 (iii) the Board of Directors or senior management of the Borrower or such
Subsidiary has determined in good faith that the failure to replace such property will not be detrimental to the business of the Borrower or such Subsidiary; 

(h) dispositions permitted under Section 8.3;  

(i) dispositions of property (i) by any Loan Party or Subsidiary to a Loan Party, (ii) by a subsidiary which is not a Loan Party to
a subsidiary which is not a Loan Party or (iii) by a Loan Party to a subsidiary which is not a Loan Party so long as such disposition is for fair market value and otherwise not prohibited pursuant to Section 8.10; 

(j) dispositions constituting Permitted Investments; 

(k) dispositions set forth on Schedule 8.5; and 

(l) sales or dispositions of other assets (including intangible property related to such fixed assets) so long as made at fair market value
and the aggregate fair market value of all assets disposed of in the aggregate would not exceed $5,000,000 in any calendar year (which amount shall be increased by any unused portion of such $5,000,000 exclusion from the immediately preceding year)
and not part of an accounts receivable financing, factoring or similar transaction (other than by a subsidiary which is not a Loan Party if done in ordinary course). 

  
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 8.6 Use of Proceeds. Borrower will not 

(a) use any portion of the proceeds of any Loan in violation of Section 2.4 or for the purpose of purchasing or carrying any “margin
stock” (as defined in Regulation U of the Federal Reserve Board) in any manner which violates the provisions of Regulation T, U or X of the Federal Reserve Board or for any other purpose in violation of any applicable statute or regulation, or
of the terms and conditions of this Agreement, or 
 (b) take, or permit any Person acting on its behalf to take, any action which could
reasonably be expected to cause this Agreement or any other Loan Document to violate any regulation of the Federal Reserve Board. 
 8.7
[Reserved]. 
 8.8 Liens. The Loan Parties will not, and will not permit any of their Subsidiaries to, directly or
indirectly, at any time create, incur, assume or suffer to exist any Lien on or with respect to any assets other than Permitted
Liens. For avoidance of doubt, after the Amendment No. 1 Effective Date, the Loan Parties will not, and will not permit any of their Subsidiaries to, directly or indirectly,
at any time create, incur, assume or suffer to exist any Lien on or with to any assets that secure the 2017 Senior Convertible Notes. 

8.9 Dividends, Redemptions, Distributions, Etc.. The Loan Parties will not, and will not permit any of their Subsidiaries to,
directly or indirectly, pay any dividends or make any distributions on or in respect of its Equity Interests, or purchase, redeem or retire any of its Equity Interests or any warrants, options or rights to purchase any such Equity Interests, whether
now or hereafter outstanding (“Interests”), or make any payment on account of or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement or other acquisition of such
Interests, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of the Loan Parties or any of their Subsidiaries (all of the foregoing, the “Restricted
Payments”), except that: 
 (a) each Subsidiary may make Restricted Payments to the Borrower and any of its Subsidiaries;
provided that if such Subsidiary is not a wholly-owned Subsidiary of the Borrower, such dividends must be made on a pro rata basis to the holders of its Equity Interests or on a greater than ratable basis to the extent such greater
payments are made solely to the Borrower or a Subsidiary; 
 (b) the Borrower and each Subsidiary may declare and make dividends payable
solely in the common stock or other common Equity Interests of such Person so long as, in the case of a Subsidiary, such Subsidiary remains wholly-owned by the Borrower; provided that if such Subsidiary is not a wholly-owned Subsidiary
of the Borrower, such dividends must be made on a pro rata basis to the holders of its Equity Interests or on a greater than ratable basis to the extent such greater payments are made solely to the Borrower or a Subsidiary; 

  
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 (c) the Borrower and each Subsidiary may make Equity Interest repurchases with the proceeds
received from the substantially concurrent issue of new shares of its common stock; and 
 (d) prior to the Amendment
No. 1 Effective Date or after the occurrence of the Catch Up Interest Payment Date, Loan Parties or their Subsidiaries may make Restricted Payments up to $25,000,000 in the aggregate so long as 

(i) before and after giving effect to such Restricted Payment, no Default exists or would result therefrom, and 

(ii) after giving pro forma effect to such Restricted Payment, 

(A) the Borrower shall be in compliance with each of the Financial Covenants as of the most recently ended fiscal quarter of
the Borrower, 
 (B) Liquidity will be at least $15,000,000 and 

(C) the Net Leverage Ratio as of the most recently ended fiscal quarter of the Borrower is less than 3.50 to 1.00. 

8.10 Investments. The Loan Parties will not, and will not permit any of their Subsidiaries to, directly or indirectly, at any
time make or hold any Investment in any Person (whether in cash, securities or other property of any kind) except the following (collectively, the “Permitted Investments”): 

(a) Investments existing on, or contractually committed as of, the date hereof and set forth on Schedule 8.10; 

(b) Investments in cash and Cash Equivalents; 

(c) Guarantees by the Loan Parties and their Subsidiaries constituting Indebtedness permitted by Section 8.1; 

(d) loans or advances to employees, officers or directors of the Loan Parties or any of their Subsidiaries in the ordinary course of business
for travel, relocation and related expenses; provided that the aggregate amount of all such loans and advances does not exceed $1,000,000 at any time outstanding; 

(e) Permitted Hedging Agreements; 

(f) prior to
the Amendment No. 1 Effective Date or after the occurrence of the Catch Up Interest Payment Date,
Permitted Acquisitions so long as (1) Liquidity will be at least $25,000,000 and (2) the Net Leverage Ratio is less than 4.50 to 1.00 on a pro forma basis after giving effect to such
Permitted Acquisition; 
 (g) Permitted Intercompany Advances; 

  
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 (h) Investments by Borrower or any of its Subsidiaries in a Loan Party or in any Person that
will become a Loan Party concurrently with such Investment; 
 (i) Investments consisting of extensions of credit in the nature of accounts
receivable or notes receivable arising from the sale or lease of goods or services in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent
reasonably necessary in order to prevent or limit loss; 
 (j) deposits of cash made in the ordinary course of business to secure
performance of (i) operating leases and (ii) other contractual obligations that do not constitute Indebtedness; 
 (k) Investments
by (i) Subsidiaries that are not Loan Parties in Subsidiaries that are not Loan Parties and (ii) Loan Parties in Subsidiaries that are not Loan Parties in an aggregate amount (when combined with all other Investments made pursuant to
clauses (g) (to Subsidiaries that are not Loan Parties) and (n)) not to exceed $20,000,000 at any time outstanding; (and, prior to the Catch Up Interest Payment Date, solely in the ordinary
course of business and consistent with past practices); and 
 (l) [reserved];

 (m) [reserved]; and 
 (n)
prior to the Amendment
No. 1 Effective Date or after the occurrence of
the Catch Up Interest Payment Date, other Investments (including by way of clarification joint ventures) which in the aggregate (when combined with all other Investments made pursuant to clauses (g) (to Subsidiaries that are not Loan Parties)
and (k)(ii)) do not exceed $20,000,000 at any time outstanding. 
 8.11 [Reserved]. 

8.12 Fiscal Year. The Loan Parties will not, and will not permit any of their Subsidiaries to, change their fiscal year from a
year ending December 31. 

8.13
Accounting Changes. The Loan Parties will not, and will not permit any of their Subsidiaries to, at any time make or permit any change in accounting policies, except as required by GAAP. 

8.14 [Reserved]. 

8.15 ERISA Compliance. The Loan Parties will not, and will not permit any of their Subsidiaries or ERISA Affiliates to, directly
or indirectly: 
 (i) engage in any Prohibited Transaction for which a statutory or class exemption is not available or a private exemption
has not been previously obtained from the Department of Labor; 

  
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 (ii) permit to exist with respect to any Pension Plan any accumulated funding deficiency (as
defined in Section 302 of ERISA and Section 412 of the Code), whether or not waived; 
 (iii) terminate any Pension Plan where
such event would result in any liability of any Loan Party or Subsidiary or ERISA Affiliate under Title IV of ERISA; 
 (iv) fail to make
any required contribution or payment to any Multiemployer Plan; 
 (v) fail to pay any required installment or any other payment required
under 
 Section 412 or 430 of the Code on or before the due date for such installment or other payment; 

(vi) amend a Pension Plan resulting in an increase in current liability for the plan year such that any Loan Party or Subsidiary or ERISA
Affiliate is required to provide security to such Plan under Section 307 of ERISA or Section 401(a)(29) of the Code; 
 (vii)
withdraw from any Multiemployer Plan where such withdrawal is reasonably likely to result in any liability of any such entity under Title IV of ERISA; or 

(viii) take any action that would cause a Termination Event or the imposition of an excise tax under Section 4978 or Section 4979A
of the Code. 
 8.16 UK Pensions. 

(a) Each Loan Party shall ensure that: 

(i) no member of the Group is or becomes an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of an
occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pensions Schemes Act 1993) and is not a scheme within section 38(1)(b) of the Pensions act 2004 or “connected” with or an “associate”
of (as those terms are used in sections 38 and 43 of the Pensions Act 2004 save that for the purposes of this clause, a member of the Group shall not be connected with another company solely by reason of one or more of its directors or employees
being a director of that other company) such an employer; 
 (ii) any contributions that a UK Loan Party or any of its
Subsidiaries are required to pay to Furmanite International Limited Pension Plan are so paid before or when they fall due and payable in accordance with the schemes’ governing documentation and any overriding legislation; and 

(iii) no action or omission is taken by any member of the Group in relation to a pension scheme which has or is reasonably
likely to have a Material Adverse Effect including, without limitation, the commencement of winding-up proceedings but excluding for these purposes any action or omission that is taken by any member of the
Group in relation to the continuation or termination of employment of any employee of the Group (on grounds of ill-health or otherwise). 

  
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 (b) Each Loan Party shall promptly: 

(i) notify the Agent of any material change in the rate of contributions to the Furmanite International Limited Pension Plan
paid or recommended to be paid (whether by the scheme actuary or otherwise) or required (by law or otherwise); 
 (ii)
provide to the Agent a copy of the Recovery Plan (and any amendments and/or variations thereto from time to time); and 

(iii) (subject to any confidentiality obligations) provide copies of all notifications made to the Pensions Regulator under
section 69 of the Pensions Act 2004 (as amended from time to time). 
 (c) Each Loan Party shall immediately notify the Agent: 

(i) if it receives a Financial Support Direction or a contribution Notice from the Pensions Regulator; 

(ii) (subject to any confidentiality obligations) of any investigation or proposed investigation by the Pensions Regulator of
which it is aware which has resulted or may result in the Pensions Regulator taking any regulatory action against any member of the Group; and 

(iii) any event of which it is aware which has triggered or may trigger a debt on any member of the Group under sections 75 or
75A of the Pensions Act 2004. 
 8.17 Prepayments and Amendments. The Loan Parties will not, and will not permit any of their
Subsidiaries to, 
 (a) at any time, directly or indirectly, make any prepayment in cash in respect of principal of or interest in any
Subordinated Debt, any unsecured Indebtedness or any other Indebtedness secured a Lien that is junior to the Lien securing the Obligations (collectively, “Junior Indebtedness”), including any sinking fund or similar deposit,
on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Junior Indebtedness more than one year prior to the scheduled maturity date thereof; provided that, for the avoidance of doubt, the ABL
Obligations shall not constitute Junior Indebtedness; provided, further, that the foregoing shall not apply to: 

(i) the 2017 Senior Convertible
Notes, provided that with respect to principal thereof, such payment may only be made if at the time of such payment
the Net Leverage Ratio as of the most recently ended Fiscal Quarter of the Borrower is less than or equal to 7.00 to 1.00, 

(ii) conversion of any Junior Indebtedness to Equity Interests of the Borrower (other than Disqualified Equity Interests), 

  
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 (iii) the payment, prepayment, repurchase, redemption, retirement,
acquisition or payment on the account of any Junior Indebtedness (other than the 2017 Senior Convertible Notes) with any Refinancing Indebtedness in respect thereof, 

(iv) the payment, prepayment, repurchase, redemption, retirement, acquisition or payment on account of any intercompany
indebtedness (A) owing to a Loan Party to another Loan Party, (B) owing by a Subsidiary that is not a Loan Party to a Subsidiary that is not a Loan Party and (C) owing by a Subsidiary that is not a Loan Party to a Loan Party and as to
any Subordinated Debt, except as expressly permitted in the Subordination Agreement applicable thereto, 
 (v) the payment of
regularly scheduled interest (including any penalty interest, if applicable) and payment of fees, expenses and indemnification obligations as and when due (other than payments with respect to Junior Indebtedness that are prohibited by the
subordination provisions thereof), or 
 (vi)
prior to the Amendment
No. 1 Effective Date or after the occurrence of the Catch Up Interest Payment Date, prepayments of up to $50,000,000 in the aggregate of Junior Indebtedness so long as 

(A) before and after giving effect to such prepayment, no Default exists or would result therefrom, and 

(B) after giving pro forma effect to such prepayment, 

(1) Liquidity will be at least $15,000,000, and 

(2) the Net Leverage Ratio as of the most recently ended fiscal quarter of the Borrower is less than 4.50 to 1.00. 

(b) directly or indirectly, amend, modify, or change any of the terms or provisions of the Governing Documents of any Loan Party or any of its
Subsidiaries or any documentation in respect of any Junior Indebtedness, in each case, if the effect thereof, either individually or in the aggregate, could reasonably be expected to be materially adverse to the interests of the Lenders;
provided, this Section 8.17(b) shall not prohibit the refinancing, renewal or extension of Junior Indebtedness to the extent otherwise permitted by Section 8.1. 

(c)
 at any time prior to the occurrence of the Catch Up Interest Payment
Date, directly or indirectly, make any repayment or prepayment in cash in respect of principal in any 2017 Senior Convertible Notes, including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination thereof. 
 8.18 Lease Obligations.
The Loan Parties will not, and will not permit any of their Subsidiaries to, at any time create, incur or assume any obligations as lessee for the rental or hire of real or personal property in connection with any sale and leaseback transaction
other than operating lease transactions for equipment paid for by such operating leases. 
  

  
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 8.19 [Reserved]. 

8.20 [Reserved]. 

8.21 Securities and Deposit Accounts.    The Loan Parties will not establish or maintain any securities account or deposit account (other than
securities accounts or deposit accounts which constitute Excluded Property or which hold less than $5,000,000 in the aggregate at any one time) unless Agent shall have received a Control Agreement, duly executed by the applicable Loan Party and the
securities intermediary or depository bank parties thereto, in respect of such securities account or deposit account, subject to the requirements set forth in Section 7.21. 

8.22 Negative Pledge. The Loan Parties will not, and will not permit any of their Subsidiaries to, enter into or suffer to exist
any agreement (other than in favor of Agent) prohibiting or conditioning the creation or assumption of any Lien in favor of the Obligations upon any of its assets; provided that the foregoing shall not apply to: 

(i) restrictions or conditions imposed by Requirements of Law or by this Agreement or any other Loan Document, 

(ii) customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, 

(iii) restrictions or conditions imposed by any agreement relating to secured or purchase money Indebtedness or capital leases permitted by
this Agreement if such restrictions and conditions apply only to the property or assets securing such Indebtedness, 
 (iv) customary
provisions in lease and other contracts restricting the assignment thereof, 
 (v) customary anti-assignment clauses in licenses under which
the Borrower or any of its Subsidiaries are the licensees, 
 (vi) any agreement in effect at a time a Person becomes a Subsidiary, so long
as such agreement was not entered into in connection with or in contemplation of such Person becoming a Subsidiary, 
 (vii) any
encumbrances or restrictions imposed by any amendments or refinancings that are otherwise permitted by the Loan Documents; provided that such amendments or refinancings are no more restrictive, taken as a whole, with respect to such
encumbrances and restrictions than those prior to such amendments or refinancings, 
 (viii) customary restrictions on Liens imposed by
agreements relating to deposit accounts and cash deposits and in the ordinary course of business, 
 (ix) [Reserved], and 

(x) restrictions or conditions set forth in the ABL Loan Documents. 

  
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 8.23 Affiliate Transactions. The Loan Parties will not, and will not permit
any of their Subsidiaries to, enter into or be party to any transaction with an Affiliate, except 
 (i) transactions contemplated by the
Loan Documents; 
 (ii) transactions with Affiliates that are in effect as of the Closing Date, as shown on Schedule 8.23;

 (iii) transactions with Affiliates in the ordinary course of business, upon fair and reasonable terms and no less favorable than would be
obtained in a comparable arm’s-length transaction with a non-Affiliate; 

provided, that the foregoing restrictions shall not apply to 

(i) employment and severance arrangements (including equity incentive plans and employee benefit plans and arrangements) with their respective
officers and employees in the ordinary course of business; 
 (ii) payment of customary fees and reasonable out of pocket costs to, and
indemnities for the benefit of, directors, officers and employees of the Borrower and its Subsidiaries in the ordinary course of business; 

(iii) any transaction solely between or among the Subsidiaries that are not Loan Parties; 

(iv) any transaction solely between or among Loan Parties; or 

(v) guarantees by the Borrower or any Subsidiary of operating leases or of other obligations that do not constitute Indebtedness, in each case
entered into by the Borrower or any Subsidiary in the ordinary course of business or consistent with past practice or industry norm. 
 8.24 Collateral Located in Quebec.    The Loan Parties will not, and will not permit any of their Subsidiaries to own tangible Collateral in Quebec having a fair market value in excess of CAD $750,000, unless the Agent has confirmed in writing that
it is satisfied that the Loan Parties or Subsidiaries owning such Collateral in Quebec have taken all action that the Agent has reasonably requested in order to perfect and protect the Agent’s security interest in such Collateral under the laws
of Quebec. 
 ARTICLE IX. 

FINANCIAL COVENANT(S) 

Until the Payment in Full of all Obligations: 

9.1 Maximum Net Leverage Ratio. The Borrower hereby covenants and agrees that the Loan Parties and their Subsidiaries will
maintain a Net Leverage Ratio, calculated for the four (4) fiscal quarter period ending on the last day of the fiscal quarter most recently ended on or after March 31, 2022, of less than or equal to 7.00 to 1.00. 

  
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 9.2 Maximum Annual Capital Expenditures. The Borrower hereby covenants and
agrees that the Loan Parties and their Subsidiaries will not exceed $33,000,000 in Capital Expenditures during any four (4) fiscal quarter period ending on the last day of the fiscal quarter most recently ended; provided that this
Section 9.2 will not apply if the Net Leverage Ratio is less than or equal to 4.00 to 1.00 as of the end of the second and fourth fiscal quarter of such calendar year. 

ARTICLE X. 
 EVENTS OF
DEFAULT 
 10.1 Events of Default. The occurrence of any of the following events shall constitute an “Event of
Default”: 
 (a) any Loan Party shall fail to pay any (i) principal of any Loan when due and payable, whether at the due
date therefor, stated maturity, by acceleration, or otherwise; or (ii) interest, fees, Lender Group Expenses or other Obligations (other than an amount referred to in the foregoing clause (i)) when due and payable, whether at the due
date therefor, stated maturity, by acceleration, or otherwise, and such default continues unremedied for a period of three (3) Business Days; or 

(b) there shall occur a default in the performance or observance of any covenant contained in 

(i) Section 2.4, 2.5(a), 2.5(b), 2.7 (with respect to any Loan
Party), 7.1, 7.6, 7.7, 7.8, 7.11, 7.16, 7.17, 7.19,
7.20 or 7.21, Article 8 or Article 9; or 
 (ii) this Agreement or any other
Loan Document (other than those referred to in Section 10.1(a) and Section 10.1(b)(i)) and such default continues for a period of thirty (30) days after the earlier of (x) the date on which such
default first becomes known to any Responsible Officer of Borrower or (y) written notice thereof from Agent to Borrower; or 
 (c) The
Pensions Regulator issues a Financial Support Direction or a Contribution Notice to any Loan Party; or 
 (d) any Loan Party or any of its
Material Subsidiaries shall become the subject of an Insolvency Event; or 
 (e) (i) any Loan Party or any of its Subsidiaries shall
fail to make any payment (whether of principal, interest or otherwise and regardless of amount) in respect of any Material Indebtedness when due (whether at scheduled maturity or by required prepayment, acceleration, demand or otherwise), or 

  
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 (ii) any event or condition occurs that results in any Material Indebtedness
becoming due prior to its scheduled maturity or that enables or permits (with all applicable grace periods having expired) the holder or holders (or a trustee or agent on behalf of such holder or holders) to declare any Material Indebtedness to be
due and payable, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; or 
 (f) any
representation or warranty made or deemed made by or on behalf of any Loan Party or any of its Subsidiaries under or in connection with any Loan Document, or in any Financial Statement, report, document or certificate delivered in connection
therewith, shall prove to have been incorrect in any material respect (except that such materiality qualifier shall not be applicable to any representations and warranties that are already qualified or modified by materiality in the text thereof)
when made or deemed made; or 
 (g) any judgment or order for the payment of money which, when taken together with all other judgments and
orders rendered against the Loan Parties and their Subsidiaries exceeds $12,500,000 in the aggregate (to the extent not covered by insurance) and either 

(i) there is a period of thirty consecutive days at any time after the entry of any such judgment, order, or award during which
(A) the same is not discharged, satisfied, vacated, or bonded pending appeal, or (B) a stay of enforcement thereof is not in effect, or 

(ii) enforcement proceedings are commenced upon such judgment, order, or award; or 

(h) a Change of Control shall occur; or 

(i) this Agreement or any other Security 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 in respect of Capitalized Lease Obligations, first
priority Lien on any material portion of the Collateral covered thereby; 
 (j) The Intercreditor Agreement shall be invalidated or
otherwise cease to constitute the legal, valid and binding obligations of the ABL Agent enforceable in accordance with its terms; or 

(k) (i) any material covenant, agreement or obligation of a Loan Party contained in or evidenced by any of the Loan Documents shall cease
to be enforceable, or shall be determined to be unenforceable, in accordance with its terms; 
 (ii) any Loan Party shall
deny or disaffirm its obligations under any of the Loan Documents or any Liens granted in connection therewith or shall otherwise challenge any of its obligations under any of the Loan Documents; or 

(iii) any Liens granted on any of the Collateral in favor of the Agent shall be determined to be void, voidable or invalid,
are subordinated or are not given the priority contemplated by this Agreement or any other Loan Document. 

  
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 10.2 Acceleration and Termination. Upon the occurrence and during the
continuance of an Event of Default, Agent, at the direction of the Required Lenders, shall take any or all of the following actions, without prejudice to the rights of Agent or any Lender to enforce its claims against Borrower: 

(a) Acceleration. To declare all Obligations immediately due and payable (except with respect to any Event of Default with respect to a
Loan Party specified in Section 10.1(d), in which case all Obligations (including with any Applicable Premium) shall automatically become immediately due and payable) without presentment, demand, protest or any other action or
obligation of Agent or any Lender, all of which are hereby waived by the Borrower. 
 (b) Termination of Commitments. To declare the
Commitments immediately terminated (except with respect to any Event of Default with respect to a Loan Party set forth in Section 10.1(d), in which case the Commitments shall automatically terminate) and, at all times thereafter,
any Loan made by the Lenders shall be in their discretion. Notwithstanding any such termination, until all Obligations shall have been Paid in Full, Agent and each Lender shall retain all rights under guaranties and all security in existing and
future Receivables, inventory, general intangibles, investment property, real property and equipment of the Loan Parties and all other Collateral held by it hereunder and under the Security Documents. 

Notwithstanding anything to the contrary contained herein, the authority to enforce rights and remedies hereunder and under the other Loan
Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be instituted and maintained by, the Agent in accordance with this Article X for the
benefit of the Secured Parties. 
 10.3 Other Remedies. 

(a) [Reserved] 
 (b) The Loan
Parties and the Lenders hereby irrevocably authorize Agent, based upon the instruction of the Required Lenders, to, upon the occurrence and during the continuation of an Event of Default, 

(i) 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, or the Insolvency Act 1986, 

(ii) 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 UCC, including pursuant to Sections 9-610 or 9-620 of the UCC, or 

  
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 (iii) 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
each case, free from any right of redemption, which right is expressly waived by Borrower. 
 If notice of intended disposition of any Collateral is
required by law, it is agreed that ten (10) days’ notice shall constitute reasonable notification. Borrower will assemble the Collateral in their possession and make it available at such locations in the United States as Agent may specify,
whether at the premises of a Loan Party or elsewhere, and will make reasonably available to Agent the premises and facilities of each Loan Party for the purpose of Agent’s taking possession of or removing the Collateral or putting the
Collateral in saleable form. Agent may sell the Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker’s board or at any of Agent’s offices or elsewhere, for cash, on credit or for future
delivery, and upon such other terms as Agent may deem commercially reasonable. Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. Agent may adjourn any public or private sale from time to time
by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. The Borrower hereby grants Agent a license to enter and occupy (in each case, so long as no
Event of Default then exists, at reasonable times and subject to reasonable procedures) any of Borrower’ leased or owned premises and facilities, without charge, to exercise any of Agent’s rights or remedies. The proceeds received from any
sale of Collateral shall be applied in accordance with Section 10.5. 
 10.4 License for Use of Software and Other
Intellectual Property. Borrower hereby grants to Agent a license or other right to use, without charge, all computer software programs, data bases, processes, trademarks, tradenames, copyrights, labels, trade secrets, service marks,
advertising materials and other rights, assets and materials used by Borrower in connection with its businesses or in connection with the Collateral, in each case with respect to any exercise of remedies hereunder. 

10.5 Post-Default Allocation of Payments. 

(a) Allocation. Notwithstanding anything herein to the contrary, during an Event of Default, if so directed by the Required Lenders or
at Agent’s discretion, monies to be applied to the Obligations, whether arising from payments by the Loan Parties, realization on Collateral, setoff, or otherwise, shall be allocated as follows: 

(i) first, to all Lender Group Expenses owing to Agent (including attorneys’ fees) in its capacity as Agent; 

(ii) second, to all Lender Group Expenses owing to the Lenders; 

(iii) third, [reserved]; 

  
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 (iv) fourth, [reserved]; 

(v) fifth, to all Obligations constituting fees (other than any Applicable Premium); and 

(vi) sixth, to all Obligations constituting interest; and 

(vii) seventh, to all Obligations constituting principal and, thereafter, to all Obligations constituting Applicable Premium;

 (viii) eighth, to all other Obligations; 

(ix) ninth, [reserved]; 

(x) tenth, [reserved]; and 

(xi) finally, to the Loan Parties or whoever else may be lawfully entitled thereto. 

Amounts shall be applied to each of the foregoing categories of Obligations in the order presented above before being applied to the following category. Where
applicable, all amounts to be applied to a given category will be applied on a pro rata basis among those entitled to payment in such category. The allocations set forth in this section are solely to determine the rights and priorities of the
Secured Parties among themselves and may be changed by agreement among them without the consent of any Loan Party. No Loan Party is entitled to any benefit under this Section or has any standing to enforce this section. 

10.6 No Marshaling; Deficiencies; Remedies Cumulative. Agent shall have no obligation to marshal any Collateral or to seek
recourse against or satisfaction of any of the Obligations from one source before seeking recourse against or satisfaction from another source. The net cash proceeds resulting from Agent’s exercise of any of the foregoing rights to liquidate
all or substantially all of the Collateral, shall be applied by Agent to such of the Obligations and in such order as Agent shall elect in its discretion, whether due or to become due. Borrower shall remain liable to Agent and the Lenders for any
deficiencies, and Agent and the Lenders in turn agree to remit to the applicable Loan Party or its successor or assign any surplus resulting therefrom. All of Agent’s and the Lenders’ remedies under the Loan Documents shall be cumulative,
may be exercised simultaneously against any Collateral and any Loan Party or in such order and with respect to such Collateral or such Loan Party as Agent or the Lenders may deem desirable, and are not intended to be exhaustive. 

10.7 Waivers. Except as may be otherwise specifically provided herein or in any other Loan Document, Borrower hereby waive any
right to a judicial or other hearing with respect to any action or prejudgment remedy or proceeding by Agent to take possession, exercise control over, or dispose of any item of Collateral in any instance (regardless of where the same may be
located) where such action is permitted under the terms of this Agreement or any other Loan Document or by applicable law or of the time, place or terms of sale in connection with the exercise of Agent’s or any Lender’s rights hereunder
and also waives any bonds, security or sureties required by any statute, rule or other law as an incident to any taking of possession by 

  
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Agent of any Collateral. Borrower also waive any damages (direct, consequential or otherwise) occasioned by the enforcement of Agent’s or any Lender’s rights under this Agreement or any
other Loan Document including the taking of possession of any Collateral of Borrower or the giving of notice to any account debtor or the collection of any Receivable of a Loan Party. Borrower also consent that Agent and the Lenders may enter upon
any premises owned by or leased to it without obligations to pay rent or for use and occupancy, through self-help, without judicial process and without having first obtained an order of any court (in each case in connection with the remedies
hereunder). These waivers and all other waivers provided for in this Agreement and the other Loan Documents have been negotiated by the parties, and Borrower acknowledges that it has been represented by counsel of its own choice, has consulted such
counsel with respect to its rights hereunder and has freely and voluntarily entered into this Agreement and the other Loan Documents as the result of arm’s-length negotiations. 

10.8 Further Rights of Agent and the Lenders. If Borrower shall fail to purchase or maintain insurance (where applicable), or to
pay any tax, assessment, governmental charge or levy, except as the same may be otherwise permitted hereunder or which is being contested in good faith by appropriate proceedings and for which adequate reserves have been established in accordance
with GAAP, or if any Lien prohibited hereby shall not be paid in full and discharged or if a Borrower shall fail to perform or comply with any other covenant, promise or obligation to Agent or any Lender hereunder or under any other Loan Document,
in each case of the foregoing to the extent an Event of Default arises and continues, the Agent may (but shall not be required to) perform, pay, satisfy, discharge or bond the same for the account of Borrower, and all amounts so paid by Agent shall
be treated as a Term Loan comprised of Base Rate Advances hereunder and shall constitute part of the Obligations. 
 10.9 Interest
After Event of Default. Borrower agrees and acknowledges that the additional interest and fees that may be charged under Section 4.2 are 

(a) an inducement to the Lenders to make Advances hereunder and that the Lenders and Agent would not consummate the transactions contemplated
by this Agreement without the inclusion of such provisions, 
 (b) fair and reasonable estimates of the Lenders’ and Agent’s costs
of administering the credit facility upon an Event of Default, and 
 (c) intended to estimate the Lenders’ and Agent’s increased
risks upon an Event of Default. 
 10.10 Receiver. In addition to any other remedy available to it, Agent shall also have the
right, upon the occurrence of an Event of Default and during its continuation, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower. 

10.11 Rights and Remedies not Exclusive. The enumeration of the foregoing rights and remedies is not intended to be exhaustive
and the exercise of any right or remedy shall not preclude the exercise of any other right or remedy provided for herein or in any other Loan Document or otherwise provided by law from and after the occurrence of any Event of Default and during its
continuation, all of which shall be cumulative and not alternative. 

  
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 ARTICLE XI. 

THE AGENT 
 11.1
Appointment of Agent. 
 (a) Each Lender hereby designates Atlantic Park as its agent and irrevocably authorizes it to take
action on such Lender’s behalf under the Loan Documents and to exercise the powers and to perform the duties described therein and to exercise such other powers as are reasonably incidental thereto. Agent may perform any of its duties by or
through its agents or employees or by or through one or more sub-agents appointed by it. 
 (b) Each
Lender further irrevocably authorizes the Agent to accept, for and on behalf of the Lenders, any parallel debt obligations with the Loan Parties pursuant to which the Agent shall have its own, independent right to demand payment of the amounts
payable by each Loan Party in connection with the Obligations. 
 (c) The provisions of this Article are solely for the benefit of Agent and
the Lenders, and except as expressly set forth herein, Loan Parties shall not have any rights with respect to any of the provisions hereof. Agent shall act solely as agent of the Lenders and assume no obligation toward or relationship of agency or
trust with or for Borrower. 
 11.2 Nature of Duties of Agent. Agent shall have no duties or responsibilities except those
expressly set forth in the Loan Documents. Neither Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their
gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature. Agent does not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender. 

11.3 Lack of Reliance on Agent. 

(a) Independent Investigation. Independently and without reliance upon Agent, each Lender, to the extent it deems appropriate, has made
and shall continue to make 
 (i) its own independent investigation of the financial or other condition and affairs of
Borrower and the other Loan Parties in connection with taking or not taking any action related hereto and 
 (ii) its own
appraisal of the creditworthiness of Borrower and the other Loan Parties, and, except as expressly provided in this Agreement, Agent shall have no duty or responsibility, either initially or on a continuing basis, to provide any Lender with any
credit or other information with respect thereto, whether coming into its possession before the making of the Initial Term Loans or at any time or times thereafter. 

  
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 (b) No Obligation of Agent. Agent shall not be responsible to any Lender for any
recitals, statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith or for the execution, effectiveness, genuineness, validity, enforceability, collectability,
priority or sufficiency of this Agreement or the financial or other condition of Borrower and the other Loan Parties. Agent shall not be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or
conditions of this Agreement or any other Loan Document, the financial condition of Borrower and the other Loan Parties, or the existence or possible existence of any Default or Event of Default, and shall not be deemed to have knowledge of any
Default or Event of Default unless and until written notice describing such Default or Event of Default is given to such Agent by a Loan Party or a Lender. 

11.4 Certain Rights of Agent. Agent may request instructions from the Required Lenders at any time. If Agent requests
instructions from the Required Lenders with respect to any action or inaction, it shall be entitled to await instructions from the Required Lenders. No Lender shall have any right of action based upon Agent’s action or inaction in response to
instructions from the Required Lenders. 
 11.5 Reliance by Agent. Agent may rely upon any written, electronic or telephonic
communication it believes to be genuine and to have been signed, sent or made by the proper Person. Agent may obtain the advice of legal counsel (including counsel for Borrower with respect to matters concerning Borrower), independent public
accountants and other experts selected by it and shall have no liability for any action or inaction taken or omitted to be taken by it in good faith based upon such advice. 

11.6 Indemnification of Agent. To the extent Agent is not reimbursed and indemnified by Borrower, each Lender will reimburse and
indemnify Agent to the extent of such Lender’s Pro Rata Share (determined as of the time that such indemnity payment is sought) for any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses
(including counsel fees and disbursements) or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against Agent in performing its duties hereunder or otherwise relating to the Loan Documents unless
resulting from Agent’s gross negligence or willful misconduct as determined in a final and non-appealable judgment by a court of competent jurisdiction. The agreements contained in this Section shall
survive any termination of this Agreement and the other Loan Documents and the Payment in Full of the Obligations. 
 11.7 Agent in
Its Individual Capacity. In its individual capacity, Agent shall have the same rights and powers hereunder as any other Lender or participation interest and may exercise the same as though it was not performing the duties specified herein.
The terms “Lenders,” “Required Lenders,” “holders of Notes” or any similar terms shall, unless the context clearly otherwise indicates, include Atlantic Park in its individual capacity. Agent and its Affiliates may
accept deposits from, lend money to, acquire equity interests in, and generally engage in any kind of banking, trust, financial advisory or other business with Borrower or any Affiliate of Borrower as if it were not performing the duties specified
herein, and may accept fees and other consideration from Borrower for services in connection with this Agreement and otherwise without having to account for the same to the Lenders. 

  
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 11.8 Holders of Notes. 

Agent may deem and treat the payee of any Note as the owner thereof for all purposes hereof unless and until a written notice of the
assignment or transfer thereof shall have been filed with Agent. Any request, authority or consent of any Person who, at the time of making such request or giving such authority or consent, is the holder of any Note, shall be conclusive and binding
on any subsequent holder, transferee or assignee of such Note or of any Note or Notes issued in exchange therefor. 
 11.9 Successor
Agent. 
 (a) Resignation. Agent may, upon twenty (20) Business Days’ notice to the Lenders and Borrower, resign by
giving written notice thereof to the Lenders and Borrower. 
 (b) Replacement of Agent after Resignation. Upon receipt of notice of
resignation by Agent, the Required Lenders, with, so long as no Event of Default then exists, the consent of the Borrower (such consent not to be unreasonably withheld or delayed) may appoint a successor agent. If a successor agent has not accepted
its appointment within fifteen (15) Business Days, then the retiring Agent may (but shall not be obligated to), on behalf of the Lenders, appoint a successor agent which, so long as no Event of Default then exists, shall be subject to the
written approval of Borrower, which approval shall not be unreasonably withheld and shall be delivered to the retiring Agent and the Lenders within ten (10) Business Days after Borrower’s receipt of notice of a proposed successor agent.

 (c) [reserved]. 

(d) Discharge. Upon its acceptance of the agency hereunder, such successor Agent shall succeed to and become vested with all the
rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations under this Agreement. The retiring Agent shall continue to have the benefit of the provisions of this Article for
any action or inaction while it was Agent. 
 (e) For purposes of the Dutch Security Documents, any resignation by the Agent is not
effective with respect to its rights under any parallel debt obligations until all rights and obligations with respect to such parallel debt obligations have been assigned to and assumed by the successor Agent. The Agent will cooperate in assigning
its right under the parallel debt obligations to any such successor agent and will cooperate in transferring all rights under any Dutch Security Document to such successor agent. 

11.10 Collateral Matters. 

(a) Exercise Binding. Except as otherwise set forth herein, any action or exercise of powers by Agent provided under the Loan
Documents, together with such other powers as are reasonably incidental thereto, shall be deemed authorized by and binding upon all of the Lenders. At any time and without notice to or consent from any Lender, Agent may take any action necessary or
advisable to perfect and maintain the perfection of the Liens upon the Collateral. 

  
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 (b) Releases. Agent is authorized to release any Lien granted to or held by it upon
any Collateral 
 (i) upon Payment in Full of all of the Obligations, 

(ii) upon any sale or transfer of Collateral which is permitted pursuant to the terms by this Agreement or 

(iii) if the release can be and is approved by the Required Lenders. 

Agent may request, and the Lenders will provide, confirmation of Agent’s authority to release particular types or items of Collateral. 

(c) Sale of Collateral. Upon any sale or transfer of Collateral which is permitted pursuant to the terms of this Agreement, or
consented to in writing by the Required Lenders or all of the Lenders, as applicable, and upon at least three (3) Business Days’ prior written request (or such shorter period as the Agent may agree to in its sole discretion) by Borrower,
Agent shall (and is hereby irrevocably authorized by the Lenders to) execute such documents as may be necessary to evidence the release of the Liens granted to Agent herein or under any of the other Loan Documents or pursuant hereto or thereto upon
the Collateral that was sold or transferred, provided that 
 (i) Agent shall not be required to execute any
document on terms which would reasonably expose Agent to liability or create any obligation or entail any consequence other than the release of such Liens and 

(ii) such release shall not in any manner discharge, affect or impair the Obligations or any Liens upon (or obligations of
Borrower in respect of) all interests retained by Borrower, including, without limitation, the proceeds of the sale, all of which shall continue to constitute part of the Collateral. 

In the event of any sale or transfer of Collateral in the exercise of remedies, or any foreclosure with respect to any of the Collateral, Agent shall be
authorized to deduct all of the expenses reasonably incurred by Agent from the proceeds of any such sale, transfer or foreclosure. 
 (d)
No Obligation for Agent. Agent shall not have any obligation to assure that the Collateral exists or is owned by the Borrower, that the Collateral is cared for, protected or insured, or that the Liens on the Collateral have been created or
perfected or have any particular priority. With respect to the Collateral, Agent may act in any manner it may deem appropriate, in its sole discretion, given Atlantic Park’s own interest in the Collateral as one of the Lenders, and it shall
have no duty or liability whatsoever to the Lenders with respect thereto, except for its gross negligence or willful misconduct as determined in a final and non-appealable judgment by a court of competent
jurisdiction. 

  
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 11.11 Actions with Respect to Defaults. In addition to Agent’s right to
take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an Event of Default as shall be directed by the Required Lenders. Until Agent shall have received such directions, Agent may act or not
act as it deems advisable and in the best interests of the Lenders. 
 11.12 Delivery of Information. Agent shall not be
required to deliver to any Lender originals or copies of any documents, instruments, notices, communications or other information received by Agent from Borrower, the Required Lenders, any Lender or any other Person under or in connection with this
Agreement or any other Loan Document except (i) as specifically provided in this Agreement or any other Loan Document and (ii) as specifically requested from time to time in writing by any Lender with respect to a specific document,
instrument, notice or other written communication received by and in the possession of Agent at the time of receipt of such request and then only in accordance with such specific request. 

11.13 English Law Governed Transaction Security. 

(a) This Section 11.13 shall be governed by English law and applies in relation to the English Security Documents,
with the security interest created or expressed to be created pursuant to the English Security Documents being the “English Transaction Security”. For the purposes of this Section 11.13 only: 

(i) “Finance Parties” means each Secured Bank Provider, Lender and the Agent; 

(ii) “Secured Parties” means each Finance Party from time to time party to this Agreement, any Receiver
or Delegate and each other agent, arranger and lender from time to time party to this Agreement; 
 (iii)
“Receiver” means a receiver or receiver and manager or administrative receiver of the whole or any part of the Collateral; and 

(iv) “Delegate” means any delegate, agent, attorney or
co-trustee appointed by the Agent. 
 (b) The Agent declares that it holds the benefit of the English
Transaction Security in trust for each Finance Party on the terms contained in this Agreement. 
 (c) Each of the Finance Parties: 

(i) authorizes the Agent to perform the duties, obligations and responsibilities and to exercise the rights, powers,
authorities and discretions specifically given to the Agent under or in connection with the English Security Documents together with any other incidental rights, powers, authorities and discretions; and 

(ii) agrees that no Finance Party shall have any independent power to enforce, or have recourse to, any of the Liens or
Collateral created or evidenced, or expressed to be created or evidenced, under the English Security Documents or to exercise any right, power, authority or discretion arising under the English Security Documents except through the Agent. 

  
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 (d) The Agent shall have the benefit of (without limitation) Sections 11.2 (Nature of
Duties of Agent), 11.3 (Lack of Reliance on Agent), 11.4 (Certain Rights of Agent), 11.5 (Reliance by Agent), 11.6 (Indemnification of Agent), 11.10 (Collateral Matters), 11.11 (Actions with Respect to
Defaults), 11.12 (Delivery of Information), 12.4 (Indemnification; Reimbursement of Expenses of Collection), 12.6 (Nonliability of Agent and Lenders), 12.13 (Limitation of Liability), 12.21 (Confidentiality) and
12.26 (Right to Cure), as if: 
 (i) references in such clauses were governed by English law; and 

(ii) references in such clauses to the Agent were to the Agent acting in its capacity as “Security Agent” in respect
of the English Transaction Security, mutatis mutandis. 
 (e) The rights, powers, authorities and discretions given to the Agent under
or in connection with the Loan Documents shall be supplemental to the Trustee Act 1925 and the Trustee Act 2000 and in addition to any which may be vested in the Agent by law or regulation or otherwise. 

(f) Section 1 of the Trustee Act 2000 shall not apply to the duties of the Agent in relation to the trusts constituted by this Agreement,
and where there are any inconsistencies between the Trustee Act 1925 or the Trustee Act 2000 and the provisions of this Agreement, the provisions of this Agreement shall, to the extent permitted by law and regulation, prevail and, in the case of any
inconsistency with the Trustee Act 2000, the provisions of this Agreement shall constitute a restriction or exclusion for the purposes of that Act. Sections 22 and 23 of the Trustee Act 2000 shall not apply to the English Security Documents. 

(g) If the Agent determines, in accordance with Section 11.10(b)(i) (Collateral Matters: Releases) that: 

(i) all of the obligations secured by the English Security Document have been fully and finally discharged; and 

(ii) no Finance Party is under any commitment, obligation or liability (actual or contingent) to make advances or provide other
financial accommodation to any Loan Party pursuant to the Loan Documents, 
 the Agent shall release, without recourse or warranty, all of the Liens and
Collateral created or evidenced, or expressed to be created or evidenced, under each English Security Document and the rights of the Agent under each of the English Security Documents, in each case in accordance with the terms of that English
Security Document and the terms of this Agreement and the trusts set out in this Agreement shall thereafter be wound up. 

  
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 (h) Without prejudice to Section 11.9(a) (Successor Agent: Resignation):

 (i) The Agent may resign and appoint one of its Affiliates as successor by giving notice to the other Finance Parties and
the Borrower. 
 (ii) If the Agent does not appoint an Affiliate as successor in the relevant resignation notice, the
Required Lenders may appoint a successor Agent with the consent of the Borrower (such consent not to be unreasonably withheld or delayed), unless an Event of Default then exists in which case no consent of the Borrower shall be required. If the
Required Lenders have not appointed a successor within thirty (30) days after notice of resignation was given, the Agent may appoint a successor after consultation with the Borrower and the Required Lenders. 

(iii) The retiring Agent shall, make available to the successor Agent such documents and records and provide such assistance as
the successor Agent may reasonably request for the purposes of performing its functions as “Security Agent” under the English Security Documents, and the Borrower shall, on demand, reimburse the retiring Agent for the amount of all costs
and expenses (including legal fees) properly incurred by it in making available such documents and records and providing such assistance. 

(iv) The resignation notice of the Agent shall only take effect upon: 

(A) the appointment of a successor; and 

(B) the transfer of the English Transaction Security and any other amounts or property, whether rights, entitlements,
choses in action or otherwise, actual or contingent, which the Agent is required by the terms of the English Security Documents to hold as trustee on trust for the Secured Parties to that successor. 

(v) Upon the appointment of a successor, the retiring Agent shall be discharged from any further obligation in respect of the
English Security Documents (other than its obligations under paragraph (g) and (h)(iii) above) but shall remain entitled to the benefit of Sections 11.6 (Indemnification of Agent) and 12.4
(Indemnification; Reimbursement of Expenses of Collection) (each as amended by paragraph (d) above) and this Section 11.13 (and any fees for the account of the retiring Agent shall cease to accrue from (and
shall be payable on) that date). Any successor and each of the other parties shall have the same rights and obligations amongst themselves as they would have had if such successor had been an original party. 

(i) The Agent shall not be obliged: 

(i) to insure any of the assets subject to the English Transaction Security; 

(ii) to require any other person to maintain any insurance; or 

(iii) to verify any obligation to arrange or maintain insurance contained in any Loan Document, 

  
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 and the Agent shall not be liable for any damages, costs or losses to any person as a result of the lack of,
or inadequacy of, any such insurance. 
 (j) If the Agent is named on any insurance policy as an insured party, it shall not be liable for
any damages, costs or losses to any person as a result of its failure to notify the insurers of any material fact relating to the risk assumed by such insurers or any other information of any kind, unless the Required Lenders request it to do so in
writing and the Agent fails to do so within 14 days after receipt of that request. 
 (k) The Agent may appoint and pay any person to act as
a custodian or nominee on any terms in relation to any asset of the trust as the Agent may determine, including for the purpose of depositing with a custodian this Agreement or any document relating to the trust created under this Agreement and the
Agent shall not be responsible for any loss, liability, expense, demand, cost, claim or proceedings incurred by reason of the misconduct, omission or default on the part of any person appointed by it under this Agreement or be bound to supervise the
proceedings or acts of any person. The Agent may retain or invest in securities payable to bearer without appointing a person to act as a custodian. 

(l) Each Finance Party and Secured Party confirms “that the Agent has authority to accept on its behalf (and ratifies the acceptance on
its behalf of any letters or reports already accepted by the Agent) the terms of any reliance letter or engagement letters relating to any reports or letters provided by accountants, auditors or providers of due diligence reports in connection with
the Loan Documents or the transactions contemplated in the Loan Documents and to bind it in respect of those reports or letters and to sign such letters on its behalf and further confirms that it accepts the terms and qualifications set out in such
letters. 
 ARTICLE XII. 

GENERAL PROVISIONS 

12.1 Notices. Except as otherwise provided herein, all notices and other communications hereunder shall be in writing and sent
by certified or registered mail, return receipt requested, by overnight delivery service, with all charges prepaid, by hand delivery, or by telecopier or other form of electronic transmission, including email, as follows: 

 

					
		 	To Agent	  	Atlantic Park
		 		  	527 Madison Avenue, 25th Floor
		 		  	New York, NY 10022
	        	 		  	Attn: Viral Naik
		 		  	Email: viral.naik@ironparkcap.com
			
		 		  	With a copy to:
		 		  	225 W. Washington St., 9th Floor
		 		  	Chicago, IL, 60606
		 		  	Attn.: Mike Kumor, Legal Department
		 		  	Email: atlanticparkagency@alterdomus.com

  
 130 

					
			
		 	To Borrower:	  	Borrower
		 		  	c/o Team, Inc.
		 		  	13131 Dairy Ashford, Suite 600,
	        	 		  	Sugar Land, Texas, 77478
		 		  	Attn: André C. Bouchard, Chief Legal Officer
		 		  	Email: butch.bouchard@teaminc.com
			
		 	To any Lender	  	to its address specified in Annex A or in the
		 		  	Assignment and Acceptance under which it
		 		  	became a party hereto

 Any party hereto may change its address, email address or telecopy number for notices and other communications
hereunder by notice to the other parties hereto. All such notices and correspondence shall be deemed given (a) if sent by certified or registered mail, five (5) Business Days after being postmarked, (b) if sent by overnight delivery
service or by hand delivery, when received at the above stated addresses or when delivery is refused and (c) if sent by facsimile or other form of electronic transmission (including by electronic imaging), when such transmission is confirmed.
All notices and other communications sent to an e-mail address shall be (i) deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return
receipt requested” function, as available, return e-mail or other written acknowledgement) and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon
the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the
website address therefor; provided that, in the case of clauses (i) and (ii) above, if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed
to have been sent at the opening of business on the next Business Day for the recipient. 
 12.2 Delays; Partial Exercise of
Remedies. No delay or omission of Agent to exercise any right or remedy hereunder shall impair any such right or operate as a waiver thereof. No single or partial exercise by Agent of any right or remedy shall preclude any other or further
exercise thereof, or preclude any other right or remedy. 
 12.3 Right of Setoff. In addition to and not in limitation of all
rights of offset that any Lender or any of its Affiliates may have under applicable law, if an Event of Default shall have occurred and be continuing and whether or not such Lender shall have made any demand or the Obligations of Borrower have
matured, each Lender and its Affiliates shall have the right, subject to the consent of the Agent, to set off and apply any and all deposits (general or special, time or demand, provisional or final, or any other type) at any time held and any other
Indebtedness at any time owing by such Lender or any of its Affiliates to or for the credit or the account of Borrower or any of their Affiliates against any and all of the Obligations. In the event that any Lender or any of its Affiliates exercises
any of its rights under this Section 12.3, such Lender shall provide notice to Agent and Borrower of such exercise, provided that the failure to give such notice shall not affect the validity of the exercise of such rights. 

  
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 12.4 Indemnification; Reimbursement of Expenses of Collection. 

(a) Borrower hereby agrees that, whether or not any of the transactions contemplated by this Agreement or the other Loan Documents are
consummated, Borrower will indemnify, defend and hold harmless Agent, each Lender and each other Secured Party and their respective successors, assigns, directors, officers, agents, employees, advisors, shareholders, attorneys and Affiliates (each,
an “Indemnified Party”) from and against any and all losses, claims, damages, liabilities, deficiencies, obligations, fines, penalties, actions (whether threatened or existing), judgments, suits (whether threatened or
existing) or expenses (including reasonable fees and disbursements of counsel, experts, consultants and other professionals) incurred by any of them (collectively, “Claims”) (except, in the case of each Indemnified Party, to
the extent that any Claim is determined in a final and non-appealable judgment by a court of competent jurisdiction to have directly resulted from such Indemnified Party’s gross negligence or willful
misconduct) arising out of or by reason of 
 (i) any litigation, investigation, claim or proceeding related to
(A) this Agreement, any other Loan Document or the transactions contemplated hereby or thereby, (B) any actual or proposed use by a Borrower of the proceeds of the Loans, (C) [reserved] or (D) any Indemnified Party’s entering
into this Agreement, the other Loan Documents or any other agreements and documents relating hereto (other than consequential damages and loss of anticipated profits or earnings), including amounts paid in settlement, court costs and the fees and
disbursements of counsel incurred in connection with any such litigation, investigation, claim or proceeding, in all cases, regardless of whether such Indemnified Party is a party thereto, and whether or not any such claim, litigation, investigation
or proceeding is brought by or against the Borrower, its equity holders, its Affiliates, its creditors or any other Person, 

(ii) the presence or Release of Hazardous Materials at, on, under, to or from any assets or properties owned, leased or
operated by any Borrower or any of its Subsidiaries; any Environmental Actions or any Remedial Actions related in any way to any such assets or properties of any Borrower or any of its Subsidiaries; or any other action taken or required to be taken
by a Borrower in connection with compliance by or liability of such Borrower, its business, or any of its owned or occupied properties, pursuant to any Environmental Laws, and 

(iii) any pending, threatened or actual action, claim, proceeding or suit by any owner of any Borrower against such Borrower
or any actual or purported violation of a Borrower’s Governing Documents or any other agreement or instrument to which a Borrower is a party or by which any of its properties is bound. 

(b) In addition, Borrower shall, upon demand, pay to each of Agent and the Lenders all Lender Group Expenses incurred by each of them. 

(c) If and to the extent that the obligations of any Borrower hereunder are unenforceable for any reason, Borrower hereby agree to make the
maximum contribution to the payment and satisfaction of such obligations that is permissible under applicable law. 
 (d) Borrower’s
obligations under Sections 4.10 and 4.11 and this Section 12.4 shall survive any termination of this Agreement and the other Loan Documents and the Payment in Full of the Obligations, and are in addition to, and not in
substitution of, any of the other Obligations. 

  
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 12.5 Amendments, Waivers and Consents. No amendment or waiver of any provision
of this Agreement or any other Loan Document, or consent to any departure by Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by Borrower and the Required Lenders (or by Agent at their instruction on
their behalf) (with a copy of all amendments provided to the Agent), and then such amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided,
however, that no amendment, waiver or consent shall, unless in writing and signed by Borrower and all the Lenders, do any of the following at any time: 

(a) change the number or percentage of Lenders that shall be required for the Lenders or any of them to take any action hereunder; 

(b) amend the definition of “Required Lenders”, or “Pro Rata Share”; 

(c) amend this Section 12.5; 

(d) reduce the amount of principal of, or interest on, or the interest rate applicable to, the Loans or any fees or other amounts payable
hereunder; 
 (e) postpone any date on which any payment of principal of, or interest on, the Loans or any fees or other amounts payable
hereunder is required to be made; 
 (f) [reserved]; 

(g) release all or substantially all of the value of the guaranties made pursuant to the Guaranty and Security Agreement or any other Loan
Document (except as expressly provided in the Loan Documents); 
 (h) release all or substantially all of the Collateral from the Liens of
the Security Documents (except as expressly provided in the Loan Documents); 
 (i) prior to an Event of Default pursuant to
Section 10.1(d), contractually subordinate any of Agent’s Liens on all or substantially all of the Collateral (except as expressly provided in the Loan Documents); or 

(j) amend any of the provisions of Section 10.5 ; 

provided, that no amendment, waiver or consent shall, unless in writing and signed by 

(i) a Lender, increase the amount of or extend the expiration date of any Commitment of such Lender, 

  
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 (ii) [reserved], 

(iii) [reserved], and 
 (iv)
Agent, in addition to the Lenders required above, take any action that affects the rights or duties of Agent under this Agreement or any other Loan Document. 

12.6 Nonliability of Agent and Lenders. The relationship between and among Borrower, Agent and the Lenders shall be solely that
of borrower, agent and lender and, respectively. Neither the Lenders nor Agent shall have any fiduciary responsibilities to Borrower. Neither the Lenders nor Agent undertake any responsibility to Borrower to review or inform Borrower of any matter
in connection with any phase of Borrower’s business or operations. 
 12.7 Assignments and Participations. 

(a) Borrower Assignment. No Borrower shall assign this Agreement or any of its rights or obligations hereunder without the prior
written consent of Agent and the Lenders, and any assignment in contravention of the foregoing shall be absolutely null and void. 
 (b)
Lender Assignments. Each Lender may, with the consent of Agent (not to be unreasonably withheld) and, so long as no Event of Default has occurred and is continuing for more than 30 days, Borrower (not required in connection with an assignment
to a Person that is (x) a Lender or an Affiliate thereof or (y) a limited partner of Atlantic Park or an affiliated fund of such limited partner; provided that, in the case of clause (y), prior written notice
shall be provided to the Borrower of such assignment), assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement, the Notes and the other Loan Documents upon execution and delivery to Agent, for its
acceptance and recording in the Register, of an Assignment and Acceptance and a processing and recordation fee payable to Agent for its account of $3,500, if the assignee is not a Lender the assignee shall provide the Agent with all “know your
customer” documents requested by the Agent pursuant to anti-money laundering rules and regulations; provided, that the Borrower shall be deemed to have consented to any assignment of any Commitments or Loans unless it shall have
objected thereto by notice to the Agent within ten (10) Business Days after the Borrower has received written notice thereof. No such assignment shall be for less than $5,000,000 of the Commitments or Loans unless it is to another Lender or an
assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans, and each such assignment shall be of a uniform, and not a varying, percentage of all rights and obligations in respect of the Commitments and the Loans.
Upon the execution and delivery to Agent of an Assignment and Acceptance and the payment of the recordation fee to Agent, from and after the such assignment is recorded in the Register (the “Acceptance Date”), 

(i) the assignee thereunder shall be a party hereto, and, to the extent that rights and obligations hereunder have been
assigned to it under such Assignment and Acceptance, such assignee shall have the rights and obligations of a Lender hereunder and 

  
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 (ii) the assignor thereunder shall, to the extent that rights and
obligations hereunder have been assigned by it under such Assignment and Acceptance, relinquish its rights (other than any rights it may have under Sections 4.10 , 4.11 and 12.4 , which shall survive such
assignment) and be released from its 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, such Lender
shall cease to be a party hereto). 
 (c) Agreements of Assignee. By executing and delivering an Assignment and Acceptance, the
assignee thereunder confirms and agrees as follows: 
 (i) other than as provided in such Assignment and Acceptance, the
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, the Notes or any other Loan Documents, 
 (ii) such assigning Lender
makes no representation or warranty and assumes no responsibility with respect to the financial condition of any Loan Party or the performance or observance by any Loan Party of any of its obligations under this Agreement or any other Loan Document,

 (iii) such assignee confirms that it is an Eligible Assignee and has received a copy of this Agreement, together with
copies of the Financial Statements referred to in Section 6.1(i), the Financial Statements delivered pursuant to Section 7.11 , if any, and 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 action as agent on its behalf and to
exercise such powers under this Agreement as are delegated to Agent by the terms hereof, together with such powers as are reasonably incidental thereto, and 

(vi) such assignee agrees that it will perform in accordance with their terms all of the obligations which by the terms of this
Agreement are required to be performed by it as a Lender. 
 (d) Agent’s Register. Agent, as
non-fiduciary agent of the Borrower shall maintain a register of the names and addresses of the Lenders, their Commitments and the principal amount (and stated interest) of their Loans (the
“Register”). Agent shall also maintain a copy of each Assignment and Acceptance delivered to and accepted by it and modify the Register to give effect to each Assignment and Acceptance. The entries in the Register shall be
conclusive and binding for all purposes, absent manifest error, and Borrower, Agent and the 

  
 135 

 
Lenders may treat each Person whose name is recorded in the Register as a Lender hereunder for all purposes of this Agreement. The Register and copies of each Assignment and Acceptance shall be
available for inspection by Borrower or any Lender at any reasonable time and from time to time upon reasonable prior written notice. Upon its receipt of each Assignment and Acceptance, Agent will give prompt notice thereof to Borrower. Within five
(5) Business Days after its receipt of such notice, Borrower shall execute and deliver to assignee Lender a new Note to the assignee in the amount of the applicable Commitment or Loans assumed by it and to the assignor in the amount of the
applicable Commitment or Loans retained by it, if any. Such new Note or Notes shall re-evidence the indebtedness outstanding under the surrendered Note or Notes, shall be in an aggregate principal amount equal
to the aggregate principal amount of such surrendered Note or Notes and shall be dated as of the Acceptance Date. Agent shall be entitled to rely upon the Register exclusively for purposes of identifying the Lenders hereunder. 

(e) Securitization. The Loan Parties hereby acknowledge that the Lenders and their Affiliates may securitize their Loans (a
“Securitization”) through the pledge of the Loans as collateral security for loans to the Lenders or their Affiliates or through the sale of the Loans or the issuance of direct or indirect interests in the Loans to their
controlled Affiliates, which loans to the Lenders or their Affiliates or direct or indirect interests will be rated by Moody’s, S&P or one or more other rating agencies. The Loan Parties shall, to the extent commercially reasonable,
cooperate with the Lenders and their Affiliates to effect any and all Securitizations. Notwithstanding the foregoing, no such Securitization shall release any Lender party thereto from any of its obligations hereunder or substitute any pledgee,
secured party or any other party to such Securitization for such Lender as a party hereto and no change in ownership of the Loans may be effected except pursuant to subsection (b) above. 

(f) Lender Participations. Each Lender may sell participations to one or more parties (each, a “Participant”) in or to all or a
portion of its rights and obligations under this Agreement, the Notes and the other Loan Documents. Notwithstanding a Lender’s sale of a participation interest, such Lender’s obligations hereunder shall remain unchanged. Borrower, Agent,
and the other Lenders shall continue to deal solely and directly with such Lender. No Lender shall grant any Participant the right to approve any amendment or waiver of this Agreement except to the extent such amendment or waiver would
(i) increase the Commitment of the Lender from which the Participant purchased its participation interest; (ii) reduce the principal of, or rate or amount of interest on, the Loans subject to such participation interest; or
(iii) postpone any date fixed for any payment of principal of, or interest on, the Loans subject to such participation interest. To the extent permitted by applicable law, each Participant shall also be entitled to the benefits of
Section 4.10 and 12.4 as if it were a Lender, provided that such Participant agrees to be subject to the last sentence of Section 2.9(b) as if it were a Lender. Each Lender that sells a participation shall,
acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each
Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the
Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans 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) or Proposed Section 

  
 136 

 1.163-5(b) of the U.S. Treasury Regulations (or, in each case, any
amended or successor version). 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. 

(g) Securities Laws. Each Lender agrees that it will not make any assignment hereunder in any manner or under any circumstances that
would require registration or qualification of, or filings in respect of, any Loan, Note or other Obligation under the securities laws of the United States or of any other jurisdiction. 

(h) Information. In connection with any 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 12.21, disclose all documents and information which it now or hereafter may have relating to any Loan Party
and its Subsidiaries and their respective businesses. 
 (i) Pledge to Federal Reserve Bank. Any Lender may at any time pledge or
assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any
such pledge or assignment of a security interest, provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender
as a party hereto. 
 12.8 Counterparts; Facsimile Signatures. This Agreement and any waiver or amendment hereto may be
executed in counterparts and by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. This Agreement and each of the
other Loan Documents may be executed and delivered by facsimile or other electronic transmission (including by electronic imaging) all with the same force and effect as if the same was a fully executed and delivered original manual counterpart. 

12.9 Severability. In case any provision in or obligation under this Agreement, any Note or any other Loan Document shall be
invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired
thereby. 
 12.10 Maximum Rate. Notwithstanding anything to the contrary contained elsewhere in this Agreement or in any other
Loan Document, the parties hereto hereby agree that all agreements between them under this Agreement and the other Loan Documents, whether now existing or hereafter arising and whether written or oral, are expressly limited so that in no contingency
or event whatsoever shall the amount paid, or agreed to be paid, to Agent or any Lender for the use, forbearance, or detention of the money loaned to Borrower and evidenced hereby or thereby or for the performance or payment of any covenant or
obligation contained 
  

  
 137 

 herein or therein, exceed the maximum non-usurious interest rate, if
any, that at any time or from time to time may be contracted for, taken, reserved, charged or received on the Obligations, under the laws of the State of New York (or the laws of any other jurisdiction whose laws may be mandatorily applicable
notwithstanding other provisions of this Agreement and the other Loan Documents), or under applicable federal laws which may presently or hereafter be in effect and which allow a higher maximum non-usurious
interest rate than under the laws of the State of New York (or such other jurisdiction), in any case after taking into account, to the extent permitted by applicable law, any and all relevant payments or charges under this Agreement and the other
Loan Documents executed in connection herewith, and any available exemptions, exceptions and exclusions (the “Highest Lawful Rate”). If due to any circumstance whatsoever, fulfillment of any provision of this Agreement or any
of the other Loan Documents at the time performance of such provision shall be due shall exceed the Highest Lawful Rate, then, automatically, the obligation to be fulfilled shall be modified or reduced to the extent necessary to limit such interest
to the Highest Lawful Rate, and if from any such circumstance Agent or any Lender should ever receive anything of value deemed interest by applicable law which would exceed the Highest Lawful Rate, such excessive interest shall be applied to the
reduction of the principal amount then outstanding hereunder or on account of any other then outstanding Obligations and not to the payment of interest, or if such excessive interest exceeds the principal unpaid balance then outstanding hereunder
and such other then outstanding Obligations, such excess shall be refunded to Borrower. All sums paid or agreed to be paid to Agent or any Lender for the use, forbearance, or detention of the Obligations and other Indebtedness of Borrower to Agent
and the Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full term of such Indebtedness, until Payment in Full thereof, so that the actual rate of interest on account of all such
Indebtedness does not exceed the Highest Lawful Rate throughout the entire term of such Indebtedness. The terms and provisions of this Section shall control every other provision of this Agreement, the other Loan Documents and all other agreements
among the parties hereto. 
 12.11 [Reserved]. 

12.12 Entire Agreement; Successors and Assigns; Interpretation. This Agreement and the other Loan Documents constitute the
entire agreement among the parties, supersede any prior written and verbal agreements among them with respect to the subject matter hereof and thereof, and shall bind and benefit the parties and their respective successors and permitted assigns.
This Agreement shall be deemed to have been jointly drafted, and no provision of it shall be interpreted or construed for or against a party because such party purportedly prepared or requested such provision, any other provision, or this Agreement
as a whole. 
 12.13 LIMITATION OF LIABILITY. NEITHER THE AGENT, ANY LENDER NOR ANY OTHER INDEMNIFIED PARTY SHALL HAVE ANY
LIABILITY TO THE LOAN PARTIES (WHETHER SOUNDING IN CONTRACT, TORT OR EQUITY OR OTHERWISE) FOR LOSSES SUFFERED BY THE LOAN PARTIES IN CONNECTION WITH, ARISING OUT OF, OR IN ANY WAY RELATED TO THE TRANSACTIONS OR RELATIONSHIPS CONTEMPLATED BY THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR ANY ACT, OMISSION OR EVENT OCCURRING IN CONNECTION THEREWITH, UNLESS IT IS DETERMINED BY A FINAL AND NONAPPEALABLE JUDGMENT OR COURT ORDER BINDING ON THE AGENT, SUCH LENDER OR SUCH 

 

  
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 INDEMNIFIED PARTY (AS THE CASE MAY BE) THAT THE LOSSES WERE THE RESULT OF ACTS OR OMISSIONS CONSTITUTING
GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF THE AGENT, SUCH LENDER, OR SUCH INDEMNIFIED PARTY (AS THE CASE MAY BE). THE LOAN PARTIES HEREBY WAIVE ALL FUTURE CLAIMS AGAINST THE AGENT AND THE LENDERS AND EACH OTHER INDEMNIFIED PARTY FOR SPECIAL,
INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES. 
 12.14 GOVERNING LAW. OTHER THAN WITH RESPECT TO THE CANADIAN SECURITY
DOCUMENTS, THE DUTCH SECURITY DOCUMENTS AND THE ENGLISH SECURITY DOCUMENTS, THE VALIDITY, INTERPRETATION AND ENFORCEMENT OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND ANY DISPUTE ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE
OTHER LOAN DOCUMENTS, WHETHER SOUNDING IN CONTRACT, TORT OR EQUITY OR OTHERWISE, SHALL BE GOVERNED BY THE INTERNAL LAWS (AS OPPOSED TO THE CONFLICTS OF LAW PROVISIONS OTHER THAN SECTION 5-1401 OF THE NEW YORK
GENERAL OBLIGATIONS LAW) AND DECISIONS OF THE STATE OF NEW YORK. 
 EACH PARTY ACKNOWLEDGES AND ACCEPTS THAT, IF A PARTY IS REPRESENTED BY
AN ATTORNEY IN CONNECTION WITH THE SIGNING AND/OR EXECUTION OF THIS AGREEMENT OR ANY OTHER AGREEMENT, DEED OR DOCUMENT REFERRED TO IN THIS AGREEMENT OR MADE PURSUANT TO THIS AGREEMENT, AND THE POWER OF ATTORNEY IS GOVERNED BY DUTCH LAW, THAT THE
EXISTENCE AND EXTENT OF THE ATTORNEY’S AUTHORITY AND THE EFFECTS OF THE ATTORNEY’S EXERCISE OR PURPORTED EXERCISE OF ITS AUTHORITY SHALL BE GOVERNED BY DUTCH LAW. 

12.15 SUBMISSION TO JURISDICTION. 

ALL DISPUTES BETWEEN ANY OF THE LOAN PARTIES AND THE AGENT OR ANY LENDER BASED UPON, ARISING OUT OF, OR IN ANY WAY RELATING TO (A) THIS
AGREEMENT; (B) ANY OTHER LOAN DOCUMENT; (OTHER THAN THE CANADIAN SECURITY DOCUMENTS, THE DUTCH SECURITY DOCUMENTS AND THE ENGLISH SECURITY DOCUMENTS) OR (C) ANY CONDUCT, ACT OR OMISSION OF THE LOAN PARTIES OR THE AGENT OR ANY LENDER OR ANY
OF THEIR RESPECTIVE PARTNERS, EMPLOYEES, AGENTS, ATTORNEYS OR OTHER AFFILIATES, IN EACH CASE WHETHER SOUNDING IN CONTRACT, TORT OR EQUITY OR OTHERWISE, SHALL BE RESOLVED ONLY BY STATE AND FEDERAL COURTS LOCATED IN NEW YORK, NEW YORK AND THE COURTS
TO WHICH AN APPEAL THEREFROM MAY BE TAKEN; PROVIDED, THAT THE AGENT SHALL HAVE THE RIGHT, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, TO PROCEED AGAINST ANY LOAN PARTY OR ITS PROPERTY IN (A) ANY COURTS OF COMPETENT
JURISDICTION AND VENUE AND (B) ANY LOCATION SELECTED BY THE AGENT TO ENABLE THE AGENT TO REALIZE ON SUCH PROPERTY, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF THE AGENT. EACH LOAN PARTY WAIVES ANY OBJECTION THAT IT MAY HAVE TO THE
LOCATION OF THE COURT IN WHICH THE AGENT HAS COMMENCED A PROCEEDING, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON FORUM NON CONVENIENS. 
  

  
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 Each Loan Party that is organized under the laws of a jurisdiction outside the United States
of America hereby appoints the Borrower, with an office at 13131 Dairy Ashford, Suite 600, Sugar Land, Texas, 77478, as its agent for service of process in any matter related to this Agreement or the other Loan Documents and shall provide written
evidence of acceptance of such appointment by such agent on or before the Closing Date. 
 12.16 [RESERVED]. 

12.17 JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT TO A
TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, ARISING OUT OF, OR IN ANY WAY RELATING TO (A) THIS AGREEMENT; (B) ANY OTHER LOAN DOCUMENT OR OTHER PRESENT OR FUTURE INSTRUMENT OR AGREEMENT BETWEEN OR AMONG THE LOAN PARTIES, THE AGENT
AND THE LENDERS, OR ANY OF THEM; OR (C) ANY CONDUCT, ACT OR OMISSION OF THE LOAN PARTIES, THE AGENT OR THE LENDERS OR ANY OF THEIR RESPECTIVE PARTNERS, EMPLOYEES, AGENTS, ATTORNEYS OR OTHER AFFILIATES, IN EACH CASE WHETHER SOUNDING IN CONTRACT,
TORT OR EQUITY OR OTHERWISE. 
 12.18 Attorney. Each Party acknowledges and accepts that, if a Party is represented by an
attorney in connection with the signing and/or execution of this Agreement or any other agreement, deed or document referred to in this Agreement or made pursuant to this Agreement and the power of attorney is governed by Dutch law, that the
existence and extent of the attorney’s authority and the effects of the attorney’s exercise or purported exercise of its authority shall be governed by Dutch law. 

12.19 Agent Titles. Each Lender, other than Atlantic Park, that is designated (on the cover page of this Agreement or otherwise)
by Atlantic Park as an “Agent” or “Arranger” of any type shall not have any right, power, responsibility or duty under any Loan Documents other than those applicable to all Lenders, and shall in no event be deemed to have any
fiduciary relationship with any other Lender. 
 12.20 Publicity. Agent may 

(a) publish in any trade or other publication or otherwise publicize to any third party (including its Affiliates) a tombstone, article, press
release or similar material relating to the financing transactions contemplated by this Agreement (including the use of company logos upon execution of trademark use agreements reasonably satisfactory to Borrower) and 

(b) provide to industry trade organizations related information necessary and customary for inclusion in league table measurements. 

 

  
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Any filings
with the SEC, press releases or other public announcements of Amendment No. 1 shall be delivered to the
Agent in draft form prior to filing on a commercially reasonable basis, and the Borrower shall consult with the Agent with respect to the content thereof. 

12.21 No Third Party Beneficiaries. Neither this Agreement nor any other Loan Document is intended or shall be construed to
confer any rights or benefits upon any Person other than the parties hereto and thereto. 
 12.22 Confidentiality. Each of
Agent and the Lenders shall maintain the confidentiality of all Information (as defined below), except that Information may be disclosed by any of them 

(a) to its Affiliates, and to its and their partners, directors, officers, employees, agents, advisors and representatives
(provided such Persons are informed of the confidential nature of the Information and instructed to keep it confidential and are bound by confidentiality restrictions customary for such arrangements); 

(b) to the extent requested by any governmental, regulatory or self-regulatory authority purporting to have jurisdiction over it or its
Affiliates; 
 (c) to the extent required by applicable law or by any subpoena or other legal process; 

(d) to any other party hereto; 

(e) in connection with any action or proceeding, or other exercise of rights or remedies, relating to any Loan Documents or Obligations; 

(f) subject to an agreement containing provisions substantially the same as this Section, to any assignee or any actual or prospective
assignee, participant or pledgee (or any of their respective advisors) in connection with any actual or prospective assignment, participation or pledge of any Lender’s interest under this Agreement; 

(g) with the consent of Borrower (not to be unreasonably withheld, conditioned or delayed); or 

(h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section or (ii) is
available to Agent or the Lenders or any of its or their respective Affiliates on a nonconfidential basis from a source other than the Loan Parties. 

Notwithstanding the foregoing, Agent may publish or disseminate general information describing this credit facility, including the names and addresses of
Borrower and a general description of Borrower’s businesses, and may use Borrower’s logos, trademarks or product photographs in advertising materials, as provided in Section 12.20 (including upon execution of trademark
use agreements reasonably satisfactory to Borrower). As used herein, “Information” means all information received from a Loan Party relating to it or its business that a reasonable person would consider confidential. Any
Person required to maintain the confidentiality of Information pursuant to this Section shall be deemed to have complied if it exercises the same degree of care 
  

  
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 that it accords its own confidential information. Agent and the Lenders acknowledge that
(i) Information may include material non-public information concerning a Loan Party; (ii) it has developed compliance procedures regarding the use of material
non-public information; and (iii) it will handle such material non-public information in accordance with applicable law, including federal and state securities
laws. 
 12.23 Patriot Act Notice, etc.. Agent hereby notifies the Loan Parties that pursuant to the requirements of the
Patriot Act and the Beneficial Ownership Regulation, Agent is required to obtain, verify and record information that identifies each Loan Party, including its legal name, address, tax ID number and other information that will allow the Lender to
identify it in accordance with the Patriot Act or the Beneficial Ownership Regulation. Agent will also require information regarding each personal guarantor, if any, and may require information regarding the Loan Parties’ management and owners,
such as legal name, address, social security number and date of birth. 
 12.24 Advice of Counsel. The Borrower acknowledges
that it has been advised by counsel in connection with the execution of this Agreement and the other Loan Documents and is not relying upon oral representations or statements inconsistent with the terms and provisions of this Agreement or any other
Loan Document. 
 12.25 Captions. The captions at various places in this Agreement and any other Loan Document are intended
for convenience only and do not constitute and shall not be interpreted as part of this Agreement or any other Loan Document. 
 12.26
Platform. 
 (a) The Borrower agrees that the Agent may, but shall not be obligated to, make the Communications (as defined
below) available to the Lenders by posting the Communications on the Platform. 
 (b) The Platform is provided “as is” and
“as available.” The Agent Parties (as defined below) do not warrant 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 any Agent Party in connection with
the Communications or the Platform. In no event shall the Agent nor any of its directors, officers, agents, employees, advisors, shareholders, attorneys or Affiliates (collectively, the “Agent Parties”) have any liability to
any Borrower, any Lender or any other Person or entity 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 the
Borrower’s or the Agent’s transmission of communications through the Platform, unless it is determined by a final and nonappealable judgment or court order that the damages were the result of acts or omissions constituting gross negligence
or willful misconduct of the Agent Party. “Communications” means, collectively, any notice, demand, communication, information, document or other material provided by or on behalf of the Borrower pursuant to any Loan Document
or the transactions contemplated therein that is distributed to the Agent or any Lender by means of electronic communications pursuant to this Section, including through the Platform. 

 

  
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 12.27 Right to Cure. Agent may, in its discretion, 

(a) cure any default by any Loan Party under this Agreement, any other Loan Document or any Material Contract that affects the Collateral, its
value or the ability of Agent to collect, sell or otherwise dispose of any Collateral or the rights and remedies of Agent and the Lenders therein or the ability of any Loan Party to perform its obligations hereunder or under any of the other Loan
Documents, 
 (b) pay or bond on appeal any judgment entered against any Loan Party, 

(c) discharge any charges, Liens, security interests or other encumbrances at any time levied on or existing with respect to the Collateral
and 
 (d) pay any amount, incur any expense or perform any act which Agent, in its discretion, determines is necessary or appropriate to
preserve, protect, insure or maintain the Collateral and the rights of Agent and the Lenders with respect thereto. 
 Agent may add any amounts so expended
to the Obligations and charge any account of Borrower with Agent or the amounts thereof, such amounts to be repayable by Borrower on demand and bear interest until paid in full at the highest rate then applicable to the Loans. Agent shall be under
no obligation to effect such cure, payment or bonding and shall not, by doing so, be deemed to have assumed any obligation or liability of any Loan Party. Any payment made or other action taken by Agent under this Section shall be without prejudice
to any right to assert an Event of Default and to proceed accordingly. 
 12.28 Acknowledgment and Consent to Bail-In of Affected 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 Affected Financial Institution and/or UK 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 the
applicable Resolution Authority and/or UK Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 
 (a)
the application of any Write-Down and Conversion Powers by the applicable Resolution Authority and/or UK Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial
Institution or UK Financial Institution; and 
 (b) the effects of any Bail-In Action on any such
liability, including, if applicable: 
 (c) a reduction in full or in part or cancellation of any such liability; 

  
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 (d) a conversion of all, or a portion of, such liability into shares or other instruments of
ownership in such Affected Financial Institution or UK Financial Institution (as the case may be), 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 

(e) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of the applicable
Resolution Authority or UK Resolution Authority (as the case may be). 
 12.29 Time. Time is of the essence in this Agreement
and each other Loan Document. Unless otherwise expressly provided, all references herein and in any other Loan Documents to time shall mean and refer to New York time. 

12.30 Keepwell. The Borrower and each other Loan Party, to the extent constituting a Qualified ECP Guarantor, hereby jointly and
severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to honor all of its obligations under the guaranty contained in the Guaranty and
Security Agreement made by it in respect of Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section for the maximum amount of such liability that can be hereby incurred without
rendering its obligations under this Section or otherwise under this Agreement or any other Loan Document, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of
each Qualified ECP Guarantor under this Section shall remain in full force and effect at all times hereafter until the Obligations have been Paid in Full. Each Qualified ECP Guarantor intends that this Section shall constitute, and this Section
shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

12.31 Sovereign Immunity. Each Loan Party, in respect of itself, its process agents, and its properties and revenues, hereby
irrevocably agrees that, to the extent that such Person or any of its properties has or may hereafter acquire any right of immunity, whether characterized as sovereign immunity or otherwise, from any legal proceedings, whether in the United States
of America or elsewhere, to enforce or collect upon the Loans or any Loan Document or any other liability or obligation of such Person related to or arising from the transactions contemplated by any of the Loan Documents, including, without
limitation, immunity from suit, immunity from service of process, immunity from jurisdiction or judgment of any court or tribunal, immunity from execution of a judgment, and immunity of any of its property from attachment prior to any entry of
judgment, or from attachment in aid of execution upon a judgment, such Person hereby expressly waives, to the fullest extent permissible under applicable Requirements of Law, any such immunity, and agrees not to assert any such right or claim in any
such proceeding, whether in the United States of America or elsewhere. Without limiting the generality of the foregoing, each Loan Party further agrees that the waivers set forth in this Section 12.31 shall be effective to the fullest
extent permitted under the Foreign Sovereign Immunities Act of 1976 of the U.S. and are intended to be irrevocable for purposes of such Act. 
  

  
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 12.32 Tax Treatment. For U.S. federal income tax purposes, the Initial Term
Loans made under this Agreement, together with the Warrants, shall be treated as an investment unit, and $14,700,000 of the price paid for the investment unit shall, for U.S. federal income tax purposes, be allocated to the purchase of the Warrants
and thereby result in a corresponding reduction in the “issue price” of the Initial Term Loans. Except as otherwise required by a Governmental Authority or change in applicable law, parties hereto agree to file tax returns consistent with
the allocation set forth in this paragraph. 
  

  
 145 

 IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be
executed by its proper and duly authorized officer as of the date first set forth above. 
  

			
	 BORROWER

	
	 TEAM,
INC.

 
			
		
	 By:
	 	 

 
			
	 Name:
	 	 

 
			
	 Title:
	 	 

 [Signature Page to the Credit Agreement] 

 
			
	LENDER

 
			
	
	ATLANTIC PARK STRATEGIC CAPITAL FUND, L.P.

 
			
		
	By:	 	 

 
			
	Name:	 	 

 
			
	 Title:
	 	 

 [Signature Page to the Credit Agreement] 

 
			
	 AGENT

	
	 ATLANTIC PARK STRATEGIC CAPITAL FUND,
L.P.

 
			
		
	 By:
	 	 

 
			
	 Name:
	 	 

 
			
	 Title:
	 	 

 [Signature Page to the Credit Agreement] 

 ANNEX A 
  

					
	 Lender Name and
Address for Notices
	  	 Term Commitments
	  	 Pro Rata Shares

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