Document:

Exhibit 10.2

 

Execution Version

 

	 
	SECOND LIEN
    CREDIT AGREEMENT

                                                           

    dated as of June 8, 2021

     

    among

     

    SOVOS BRANDS INTERMEDIATE, INC.,

    as the Borrower,

     

    SOVOS BRANDS HOLDINGS, INC.,

    as Holdings,

     

    THE FINANCIAL INSTITUTIONS PARTY HERETO

    as Lenders,

     

    and

     

    OWL ROCK CAPITAL CORPORATION,

    as Administrative Agent

	 

 

     

     

    

 

TABLE OF CONTENTS

 

Page

 

ARTICLE 1

 

DEFINITIONS

 

	Section 1.01.	Defined Terms	1
	Section 1.02.	Classification of Loans and Borrowings	61
	Section 1.03.	Terms Generally	61
	Section 1.04.	Accounting Terms; GAAP	63
	Section 1.05.	Effectuation of Transactions	64
	Section 1.06.	Timing of Payment or Performance	64
	Section 1.07.	Times of Day	64
	Section 1.08.	Currency Equivalents Generally	64
	Section 1.09.	Cashless Rollovers	65
	Section 1.10.	[Reserved]	65
	Section 1.11.	Guarantees and Collateral	65
	Section 1.12.	Certain Calculations and Tests	66
	Section 1.13.	Effect of Benchmark Transition Event	68
	Section 1.14.	[Reserved]	68
	Section 1.15.	Certain Determinations	68
	Section 1.16.	Conflicts	70
	 	 	 
	ARTICLE 2
	 
	THE CREDITS
	 
	Section 2.01.	Commitments	70
	Section 2.02.	Loans and Borrowings	70
	Section 2.03.	Requests for Borrowings	71
	Section 2.04.	[Reserved]	71
	Section 2.05.	[Reserved]	71
	Section 2.06.	[Reserved]	71
	Section 2.07.	Funding of Borrowings	72
	Section 2.08.	Type; Interest Elections	72
	Section 2.09.	Termination and Reduction of Commitments	73
	Section 2.10.	Repayment of Loans; Evidence of Debt	73
	Section 2.11.	Prepayment of Loans	74
	Section 2.12.	Fees	78
	Section 2.13.	Interest	79
	Section 2.14.	Alternate Rate of Interest	79
	Section 2.15.	Increased Costs	80
	Section 2.16.	Break Funding Payments	81
	Section 2.17.	Taxes	81
	Section 2.18.	Payments Generally; Allocation of Proceeds; Sharing of Payments	85
	Section 2.19.	Mitigation Obligations; Replacement of Lenders	86
	Section 2.20.	Illegality	88
	Section 2.21.	Defaulting Lenders	88
	Section 2.22.	Incremental Credit Extensions	89
	Section 2.23.	Extensions of Loans	92

 

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	ARTICLE 3
	 
	REPRESENTATIONS AND WARRANTIES
	 
	Section 3.01.	Organization; Powers	94
	Section 3.02.	Authorization; Enforceability	94
	Section 3.03.	Governmental Approvals; No Conflicts	95
	Section 3.04.	Financial Condition; No Material Adverse Effect	95
	Section 3.05.	Properties	95
	Section 3.06.	Litigation and Environmental Matters	95
	Section 3.07.	Compliance with Laws	96
	Section 3.08.	Investment Company Status	96
	Section 3.09.	Taxes	96
	Section 3.10.	ERISA	96
	Section 3.11.	Disclosure	96
	Section 3.12.	Solvency	97
	Section 3.13.	Subsidiaries	97
	Section 3.14.	Security Interest in Collateral	97
	Section 3.15.	Labor Disputes	98
	Section 3.16.	Federal Reserve Regulations	98
	Section 3.17.	OFAC; PATRIOT ACT and FCPA	98
	 	 	 
	ARTICLE 4
	 
	CONDITIONS
	 
	Section 4.01.	Closing Date	99
	 	 	 
	ARTICLE 5
	 
	AFFIRMATIVE COVENANTS
	 
	Section 5.01.	Financial Statements and Other Reports	101
	Section 5.02.	Existence	104
	Section 5.03.	Payment of Taxes	104
	Section 5.04.	Maintenance of Properties	105
	Section 5.05.	Insurance	105
	Section 5.06.	Inspections	105
	Section 5.07.	Maintenance of Book and Records	106
	Section 5.08.	Compliance with Laws	106
	Section 5.09.	Environmental	106
	Section 5.10.	Designation of Subsidiaries	106
	Section 5.11.	Use of Proceeds	107
	Section 5.12.	Covenant to Guarantee Obligations and Provide Security	107
	Section 5.13.	[Reserved]	110
	Section 5.14.	Further Assurances	110
	Section 5.15.	Post-Closing Covenant	110
	Section 5.16.	Transactions with Affiliates	110
	Section 5.17.	Fiscal Year	113
	Section 5.18.	Nature of Business	113

 

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	ARTICLE 6
	 
	NEGATIVE COVENANTS
	 
	Section 6.01.	Indebtedness	113
	Section 6.02.	Liens	119
	Section 6.03.	[Reserved]	124
	Section 6.04.	Restricted Payments; Restricted Debt Payments	124
	Section 6.05.	Burdensome Agreements	129
	Section 6.06.	Investments	130
	Section 6.07.	Fundamental Changes; Disposition of Assets	134
	Section 6.08.	Amendments of or Waivers with Respect to Restricted Debt	138
	Section 6.09.	Holdings	138
	Section 6.10.	Anti-layering	139
	 	 	 
	ARTICLE 7
	 
	EVENTS OF DEFAULT
	 
	Section 7.01.	Events of Default	139
	 	 	 
	ARTICLE 8
	 
	THE ADMINISTRATIVE AGENT
	 
	Section 8.01.	Appointment and Authorization of Administrative Agent	142
	Section 8.02.	Rights as a Lender	142
	Section 8.03.	Exculpatory Provisions	142
	Section 8.04.	Exclusive Right to Enforce Rights and Remedies	143
	Section 8.05.	Reliance by Administrative Agent	144
	Section 8.06.	Delegation of Duties	144
	Section 8.07.	Successor Administrative Agent	144
	Section 8.08.	Non-Reliance on Administrative Agent	146
	Section 8.09.	Collateral and Guarantee Matters	146
	Section 8.10.	Intercreditor Agreements	147
	Section 8.11.	Indemnification of Administrative Agent	148
	Section 8.12.	Withholding Taxes	148
	Section 8.13.	Administrative Agent May File Proofs of Claim	148
	Section 8.14.	Erroneous Payments	149
	 	 	 
	ARTICLE 9
	 
	MISCELLANEOUS
	 
	Section 9.01.	Notices	150
	Section 9.02.	Waivers; Amendments	153
	Section 9.03.	Expenses; Indemnity	159
	Section 9.04.	Waiver of Claim	160
	Section 9.05.	Successors and Assigns	161
	Section 9.06.	Survival	169
	Section 9.07.	Counterparts; Integration; Effectiveness	169
	Section 9.08.	Severability	169
	Section 9.09.	Right of Setoff	169

 

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	Section 9.10.	Governing Law; Jurisdiction; Consent to Service of Process	170
	Section 9.11.	Waiver of Jury Trial	170
	Section 9.12.	Headings	171
	Section 9.13.	Confidentiality	171
	Section 9.14.	No Fiduciary Duty	172
	Section 9.15.	Several Obligations	173
	Section 9.16.	USA PATRIOT Act	173
	Section 9.17.	Disclosure of Agent Conflicts	173
	Section 9.18.	Appointment for Perfection	173
	Section 9.19.	Interest Rate Limitation	173
	Section 9.20.	Intercreditor Agreements	173
	Section 9.21.	Conflicts	174
	Section 9.22.	Release of Guarantors	174
	Section 9.23.	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	174
	Section 9.24.	Certain ERISA Matters	175
	Section 9.25.	[Reserved]	176
	Section 9.26.	Acknowledgement Regarding Any Supported QFCs	176

 

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SCHEDULES:

 

	Schedule 1.01(a)	–	Commitment Schedule
	Schedule 1.01(b)	–	Dutch Auction
	Schedule 1.01(c)	–	Mortgages
	Schedule 1.01(d)	–	Closing Date Collateral Documents and Loan Guarantees
	Schedule 3.05	–	Fee Owned Real Estate Assets
	Schedule 3.13	–	Subsidiaries
	Schedule 4.01(b)	–	Local Counsel Opinions
	Schedule 5.10	–	Unrestricted Subsidiaries
	Schedule 5.15	–	Post-Closing Obligations
	Schedule 6.01	–	Existing Indebtedness
	Schedule 6.02	–	Existing Liens
	Schedule 6.06	–	Existing Investments
	Schedule 9.01	–	Borrower’s Website Address for Electronic Delivery
	 	 	 
	EXHIBITS:	 	 
	 	 	 
	Exhibit A-1	–	Form of Affiliated Lender Assignment and Assumption
	Exhibit A-2	–	Form of Assignment and Assumption
	Exhibit B	–	Form of Borrowing Request
	Exhibit C	–	Form of Second Lien Intellectual Property Security Agreement
	Exhibit D	–	Form of Compliance Certificate
	Exhibit E	–	Form of Pari Passu Intercreditor Agreement
	Exhibit F	–	Form of Intercompany Note
	Exhibit G	–	Form of Junior Lien Intercreditor Agreement
	Exhibit H	–	Form of Interest Election Request
	Exhibit I	–	Form of Second Lien Loan Guaranty
	Exhibit J	–	Form of Perfection Certificate
	Exhibit K	–	Form of Joinder Agreement
	Exhibit L	–	Form of Promissory Note
	Exhibit M	–	Form of Second Lien Pledge and Security Agreement
	Exhibit N	–	[Reserved]
	Exhibit O-1	–	Form of Tax Compliance Certificate (For Foreign Lenders That Are Not Partnerships For US Federal Income Tax Purposes)
	Exhibit O-2	–	Form of Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For US Federal Income Tax Purposes)
	Exhibit O-3	–	Form of Tax Compliance Certificate (For Foreign Lenders That Are Partnerships For US Federal Income Tax Purposes)
	Exhibit O-4	–	Form of Tax Compliance Certificate (For Foreign Participants That Are Partnerships For US Federal Income Tax Purposes)
	Exhibit P	–	Form of Solvency Certificate

 

    v

     

    

 

SECOND LIEN CREDIT AGREEMENT

 

SECOND LIEN CREDIT AGREEMENT,
dated as of June 8, 2021 (this “Agreement”), by and among Sovos Brands Intermediate, Inc., a Delaware corporation
(the “Borrower”), Sovos Brands Holdings, Inc., a Delaware corporation (“Holdings”), the Lenders
from time to time party hereto, and Owl Rock Capital Corporation (“Owl Rock”), in its capacities as administrative
agent for the Lenders and collateral agent for the Secured Parties (in such capacities and together with its permitted successors and
assigns, the “Administrative Agent”).

 

RECITALS

 

A.            Substantially
concurrently with the occurrence of the Closing Date, all outstanding indebtedness for borrowed money of the Borrower and its subsidiaries
under that certain Credit Agreement, dated as of November 20, 2018 (as amended, supplemented or otherwise modified from time to
time, the “Existing Credit Agreement”), among, inter alios, Holdings, the Borrower, the lenders from time to
time party thereto, and Credit Suisse AG, Cayman Islands Branch, as administrative agent (other than letters of credit that are replaced,
backstopped, cash collateralized or with respect to which other arrangements have been made in accordance with the terms of such credit
agreement), will be repaid, redeemed, discharged, refinanced, replaced or terminated and in each case, the liens (other than with respect
to any cash collateral agreement relating to any letter of credit that will remain outstanding after the Closing Date) and guarantees
in support thereof shall be released or terminated (the “Closing Date Refinancing”).

 

B.          To
fund the Closing Date Refinancing and a portion of the Special Dividend (as defined below), the Borrower (i) has requested that
the Lenders extend credit under this Agreement in the form of Initial Loans in an aggregate principal amount on the Closing Date of $200,000,000
and (ii) intends (x) to borrow term loans under the First Lien Credit Agreement in an aggregate principal amount equal to $580,000,000
and (y) establish revolving credit commitments in with an initial available amount of $125,000,000.

 

C.           The
Borrower will make a Restricted Payment for the purpose of paying a dividend in the aggregate amount equal to $400,000,000 to the direct
or indirect equity holders of the Borrower (the “Special Dividend”).

 

D.           The
Lenders are willing to extend such credit to the Borrower on the terms and subject to the conditions set forth herein. Accordingly, the
parties hereto agree as follows:

 

ARTICLE 1

 

DEFINITIONS

 

Section 1.01.           Defined
Terms. As used in this Agreement, the following terms have the meanings specified below:

 

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

 

“Acceptable Debtor-In-Possession
Financing” means any debtor-in-possession or similar financing (a) incurred by Holdings, the Borrower or a Restricted
Subsidiary following a voluntary petition by Holdings, the Borrower or any of its Restricted Subsidiaries under or in connection with
any Debtor Relief Law and (b) approved pursuant to an order of an applicable court under any Debtor Relief Law.

 

“ACH”
means automated clearing house transfers.

 

“Additional Agreement”
has the meaning assigned to such term in Section 8.10.

 

    1

     

    

 

“Additional Commitment”
means any commitment hereunder added pursuant to Sections 2.22, 2.23 and/or 9.02(c).

 

“Additional Lender”
means any lender with an Additional Commitment or an outstanding Additional Loan.

 

“Additional Loan”
means any additional loan added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(i).

 

“Adjusted Consolidated
Net Income” means, in respect of any period, an amount determined for the Borrower and its Restricted Subsidiaries, on a consolidated
basis, equal to (a) Consolidated Net Income for such period plus (b) the sum, without duplication (and to the extend
deducted and not added back in calculating Consolidated Net Income for such period), for such period of:

 

(i)            (A) any
depreciation, amortization (including, without limitation, amortization of goodwill, software and other intangible assets), (B) any
impairment Charge, including any bad debt expense, and (C) any asset write-off and/or write-down; plus

 

(ii)          any
amount that may be added back in the calculation of Consolidated Adjusted EBITDA for such period pursuant to clause (c)(viii) of
the definition thereof.

 

“Administrative
Agent” has the meaning assigned to such term in the preamble to this Agreement.

 

“Administrative
Questionnaire” means a customary administrative questionnaire in the form provided by the Administrative Agent.

 

“Advent”
means Advent International Corporation.

 

“Adverse Proceeding”
means any action, suit, proceeding (whether administrative, judicial or otherwise), governmental investigation or arbitration (whether
or not purportedly on behalf of Holdings, the Borrower or any of its Restricted Subsidiaries) at law or in equity, or before or by any
Governmental Authority, domestic or foreign (including any Environmental Claim), whether pending or, to the knowledge of Holdings, the
Borrower or any of its Restricted Subsidiaries, threatened in writing, against or affecting Holdings, the Borrower or any of its Restricted
Subsidiaries or any property of Holdings, the Borrower or any of its Restricted Subsidiaries.

 

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

 

“Affiliate”
means, as applied to any Person, any other Person directly or indirectly Controlling, Controlled by, or under common Control with, that
Person. No Person shall be an “Affiliate” of the Borrower and/or any Restricted Subsidiary solely because it is an unrelated
portfolio company of the Sponsor and none of the Administrative Agent, any Lender (other than any Affiliated Lender or any Debt Fund
Affiliate) or any of their respective Affiliates shall be considered an Affiliate of the Borrower or any subsidiary thereof. Notwithstanding
the foregoing, SoftBank and members of the SoftBank Group shall not be deemed Affiliates of Fortress Credit Corp. or of any of its Affiliates.

 

“Affiliated Lender”
means any Non-Debt Fund Affiliate, the Borrower and/or any subsidiary of the Borrower.

 

“Affiliated Lender
Assignment and Assumption” means (a) an assignment and assumption entered into by a Lender and an Affiliated Lender (with
the consent of any party whose consent is required by Section 9.05) and accepted by the Administrative Agent in the form
of Exhibit A-1 and/or (b) any other form approved by the Administrative Agent and the Borrower.

 

    2

     

    

 

“Affiliated Lender
Cap” has the meaning assigned to such term in Section 9.05(g)(iv).

 

“Agreement”
has the meaning assigned to such term in the preamble to this Second Lien Credit Agreement.

 

“Alternate Base
Rate” means, for any day, a rate per annum equal to the highest of (a) the Federal Funds Effective Rate in effect on such
day plus 0.50%, (b) to the extent ascertainable, the Published LIBO Rate (which rate shall be calculated based upon an Interest
Period of one month and shall be determined on a daily basis and, for the avoidance of doubt, the Published LIBO Rate for any day shall
be based on the rate determined on such day at 11 a.m. (London time)) plus 1.00%, (c) the Prime Rate and (d) solely
in the case of Initial Loans, 1.75%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective
Rate or the Published LIBO Rate, as the case may be, shall be effective from and including the effective date of such change in the Prime
Rate, the Federal Funds Effective Rate or the Published LIBO Rate, as the case may be.

 

“Applicable Percentage”
means, with respect to any Lender of any Class, a percentage equal to a fraction the numerator of which is the aggregate outstanding
principal amount of the Loans and unused Additional Commitments of such Lender under the applicable Class and the denominator of
which is the aggregate outstanding principal amount of the Loans and unused Commitments of all Lenders under the applicable Class.

 

“Applicable Rate” means, with
respect to any Initial Loan, (a) 8.00% per annum for LIBO Rate Loans and (b) 7.00% per annum for ABR Loans.

 

Notwithstanding the foregoing,
upon the consummation of a Public Company Transaction, the Applicable Rate with respect to the Initial Loans will be automatically reduced
by 0.25% per annum effective from and after the date on which such Public Company Transaction was consummated.

 

“Approved Fund”
means, with respect to any Lender, any Person (other than a natural person) that is engaged in making, purchasing, holding or otherwise
investing in commercial loans and similar extensions of credit in the ordinary course of its activities and is administered, advised
or managed by (a) such Lender, (b) any Affiliate of such Lender or (c) any entity or any Affiliate of any entity that
administers, advises or manages such Lender.

 

“Assignment Agreement”
means, collectively, each Assignment and Assumption and each Affiliated Lender Assignment and Assumption.

 

“Assignment and
Assumption” means (a) an assignment and assumption entered into by a Lender and an assignee (with the consent of any party
whose consent is required by Section 9.05), and accepted by the Administrative Agent in the form of Exhibit A-2
and/or (b) any other form approved by the Administrative Agent and the Borrower.

 

“Available Amount”
means, at any time, an amount equal to, without duplication:

 

(a)           the
sum of:

 

(i)            the
greater of $78,000,000 and 60% of Consolidated Adjusted EBITDA as of the end of the most recently ended Test Period; plus

 

(ii)          an
amount, not less than zero for any period, equal to the CNI Growth Amount (provided, that no amount shall be available pursuant
to this clause (ii) for any Restricted Payment pursuant to Section 6.04(a)(iii)(A) if an Event of Default
under Sections 7.01(a), (f) or (g) exists); plus

 

    3

     

    

 

(iii)        (A) the
amount of any capital contribution in respect of Qualified Capital Stock or the proceeds of any issuance of Qualified Capital Stock after
the Closing Date (other than any amount (1) constituting a Cure Amount, an Available Excluded Contribution Amount or a Contribution
Indebtedness Amount, (2) received from the Borrower or any Restricted Subsidiary or (3) consisting of the proceeds of any loan
or advance made pursuant to Section 6.06(h)(ii)) received or deemed to be received as Cash equity by the Borrower or any
of its Restricted Subsidiaries, plus (B) the fair market value, as determined by the Borrower in good faith, of Cash Equivalents,
marketable securities or other property received or deemed to be received by the Borrower or any Restricted Subsidiary as a capital contribution
in respect of Qualified Capital Stock or in return for any issuance of Qualified Capital Stock (other than any amount (1) constituting
a Cure Amount, an Available Excluded Contribution Amount or a Contribution Indebtedness Amount or (2) received from the Borrower
or any Restricted Subsidiary), in each case, during the period from and including the day immediately following the Closing Date through
and including such time; plus

 

(iv)         the
aggregate principal amount of any Indebtedness (including any Disqualified Capital Stock), of the Borrower or any Restricted Subsidiary
issued after the Closing Date (other than Indebtedness or such Disqualified Capital Stock issued to the Borrower or any Restricted Subsidiary),
which has been converted into or exchanged for Capital Stock of the Borrower, any Restricted Subsidiary or any Parent Company that does
not constitute Disqualified Capital Stock, together with the fair market value of any Cash Equivalents and the fair market value (as
determined by the Borrower in good faith) of any assets received by the Borrower or such Restricted Subsidiary upon such exchange or
conversion, in each case, during the period from and including the day immediately following the Closing Date through and including such
time; plus

 

(v)         the
Net Proceeds received by the Borrower or any Restricted Subsidiary during the period from and including the day immediately following
the Closing Date through and including such time in connection with the Disposition to any Person (other than the Borrower or any Restricted
Subsidiary) of any Investment made pursuant to Section 6.06(r)(i); plus

 

(vi)         to
the extent not already reflected as a return of capital with respect to such Investment for purposes of determining the amount of such
Investment (pursuant to the definition thereof), the proceeds received (or deemed to be received) by the Borrower or any Restricted Subsidiary
during the period from and including the day immediately following the Closing Date through and including such time in connection with
cash returns, cash profits, cash distributions and similar cash amounts, including cash principal repayments and interest payments of
loans, in each case, received in respect of any Investment made after the Closing Date pursuant to Section 6.06(r)(i); plus

 

(vii)          an
amount equal to the sum of (A) the amount of any Investment by the Borrower or any Restricted Subsidiary pursuant to Section 6.06(r)(i) in
any Unrestricted Subsidiary or any other Person (other than the Borrower or any Restricted Subsidiary) that has been re-designated as
or has become, as applicable, a Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or is liquidated,
wound up or dissolved into, the Borrower or any Restricted Subsidiary and (B) the fair market value (as determined by the Borrower
in good faith) of the assets (including cash or Cash Equivalents) of any Unrestricted Subsidiary or any other Person (other than the
Borrower or any Restricted Subsidiary) that have been distributed, conveyed or otherwise transferred to the Borrower or any Restricted
Subsidiary, in each case, during the period from and including the day immediately following the Closing Date through and including such
time; plus

 

    4

     

    

 

(viii)       to
the extent not already included in the CNI Growth Amount, the aggregate amount of any Cash dividend or other Cash distribution received
(or deemed received) by the Borrower or any Restricted Subsidiary from any Unrestricted Subsidiary after the Closing Date; plus

 

(ix)           the
amount of any Declined Proceeds; plus

 

(x)            [reserved];
plus

 

(xi)           the
amount of any De Minimis Proceeds; plus

 

(xii)         the
fair market value of any First Lien Debt, Second Lien Debt and/or Junior Lien Debt that has been contributed to the Borrower and/or any
of its Restricted Subsidiaries in accordance with Section 9.05(g) (or any comparable provision under any definitive
documentation governing such First Lien Debt, Second Lien Debt or Junior Lien Debt, as applicable); plus

 

(xiii)         [reserved];
plus

 

(xiv)        the
value of any transaction consideration in any Permitted Acquisition or other Investment attributable in the good faith determination
of the Borrower to the Qualified Capital Stock of the Borrower or its applicable Parent Company issued in connection with such Permitted
Acquisition or other Investment; minus

 

(b)           an
amount equal to the sum of (i) Restricted Payments made pursuant to Section 6.04(a)(iii)(A), plus (ii) Restricted
Debt Payments made pursuant to Section 6.04(b)(vi)(A), plus (iii) Investments made pursuant to Section 6.06(r)(i),
in each case, after the Closing Date and prior to such time or contemporaneously therewith.

 

“Available Excluded
Contribution Amount” means the aggregate amount of Cash or Cash Equivalents or the fair market value of other assets (as determined
by the Borrower in good faith, but excluding any Cure Amount and/or any Contribution Indebtedness Amount) received (or deemed received)
by the Borrower or any of its Restricted Subsidiaries after the Closing Date from:

 

(a)           contributions
(or deemed contributions) of assets (including cash) in respect of Qualified Capital Stock of the Borrower (other than any amount received
from any Restricted Subsidiary); and

 

(b)         the
sale or issuance of Qualified Capital Stock of the Borrower (other than (x) to any Restricted Subsidiary, (y) pursuant to any
management equity plan or stock option plan or any other management or employee benefit plan or (z) with the proceeds of any loan
or advance made pursuant to Section 6.06(h)(ii)),

 

in each case, designated by the Borrower as an
Available Excluded Contribution Amount on or promptly after the date on which the relevant capital contribution is made (or deemed to
be made) or the relevant proceeds are received (or deemed to be received), as the case may be, and which are excluded from the calculation
of the Available Amount.

 

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

 

    5

     

    

 

“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 affiliate (other
than through liquidation, administration or other insolvency proceedings).

 

“Banking Services”
means each and any of the following services: commercial credit cards, stored value cards, purchasing cards, treasury management services,
netting services, overdraft protections, check drawing services, automated payment services (including depository, overdraft, controlled
disbursement, ACH transactions, return items and interstate depository network services), employee credit card programs, cash pooling
services, supply chain and/or supplier financing services and any arrangement and/or service similar to any of the foregoing and/or otherwise
in connection with Cash management and Deposit Accounts.

 

“Banking Services
Obligations” means any and all obligations of any Loan Party, whether absolute or contingent and however and whenever created,
arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under any arrangement
in connection with Banking Services that is in effect on the Closing Date or entered into at any time on or after the Closing Date between
any Loan Party and (a) a counterparty that is (or is an Affiliate of) the Administrative Agent or any Lender as of the Closing Date
or at the time such arrangement is entered into and/or (b) any other Person, in each case of the Persons described in the foregoing
clauses (a) and (b), that is designated in writing by the Borrower to the Administrative Agent as a provider of Banking
Services Obligations for purposes of the Loan Documents, it being understood that each counterparty provider of Banking Services Obligations
shall be deemed (A) to appoint the Administrative Agent as its agent under the applicable Loan Documents and (B) to agree to
be bound by the provisions of Article 8, Section 9.03 and Section 9.10 and any applicable Intercreditor
Agreement as if it were a Lender.

 

“Bankruptcy Code”
means Title 11 of the United States Code (11 USC § 101 et seq.), as it has been, or may be, amended, from time
to time.

 

“Benchmark Replacement”
means the sum of: (a) the alternate benchmark rate (which may include Term SOFR) that has been selected by the Administrative Agent
and the Borrower giving due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining
such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a rate of
interest as a replacement to the Published LIBO Rate for U.S. dollar-denominated syndicated credit facilities and the Benchmark Replacement
Adjustment; provided that, if the Benchmark Replacement as so determined would in the case of Initial Loans, be less than 0.75%,
the Benchmark Replacement will be deemed to be 0.75% for the purposes of this Agreement.

 

“Benchmark Replacement
Adjustment” means, with respect to any replacement of the Published LIBO Rate with an Unadjusted Benchmark Replacement for
each applicable Interest Period, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be
a positive or negative value or zero) that has been selected by the Administrative Agent giving due consideration to (i) any selection
or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the
Published LIBO Rate with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body or (ii) any evolving
or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment,
for the replacement of the Published LIBO Rate with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated syndicated
credit facilities at such time. Each Benchmark Replacement Adjustment shall be subject to the consent of the Borrower (not to be unreasonably
withheld or delayed).

 

    6

     

    

 

“Benchmark Replacement
Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes
(including changes to the definition of “Alternate Base Rate,” the definition of “Interest Period,” timing and
frequency of determining rates and making payments of interest and other administrative matters) that the Administrative Agent and the
Borrower decide may be appropriate to reflect the adoption and implementation of such Benchmark Replacement 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 the Benchmark Replacement exists, in such other manner of administration as the Administrative
Agent decides is reasonably necessary in connection with the administration of this Agreement).

 

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

 

		(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 the Published LIBO Rate permanently or indefinitely ceases
                                            to provide the Published LIBO Rate; or

 

		(2)	in the
                                            case of clause (3) of the definition of “Benchmark Transition Event,” the
                                            date of the public statement or publication of information referenced therein.

 

“Benchmark Transition
Event” means the occurrence of one or more of the following events with respect to the Published LIBO Rate (with respect to
Loans denominated in Dollars):

 

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

 

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

 

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

 

“Benchmark Transition
Start Date” means (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark Replacement
Date and (ii) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the
90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected date
of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication) and (b) in
the case of an Early Opt-in Election, the date specified by the Administrative Agent by notice to the Borrower, so long as the Administrative
Agent has not received, by such date, written notice of objection to such Early Opt-In Election from the Borrower.

 

    7

     

    

 

“Benchmark Unavailability
Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the
Published LIBO Rate and solely to the extent that the Published LIBO Rate has not been replaced with a Benchmark Replacement, the period
(x) beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced
the Published LIBO Rate for all purposes hereunder in accordance with Section 1.13 and (y) ending at the time that a
Benchmark Replacement has replaced the Published LIBO Rate for all purposes hereunder pursuant to Section 1.13.

  

“Beneficial Ownership
Certification” means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation.

 

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

 

“Benefit Plan”
means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan”
as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42)
or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan”
or “plan”.

 

“Board”
means the Board of Governors of the Federal Reserve System of the US.

 

“Borrower”
has the meaning assigned to such term in the preamble to this Agreement and shall, for the avoidance of doubt, include any Successor
Borrower.

 

“Borrower Materials”
has the meaning assigned to such term in Section 9.01(d).

 

“Borrowing”
means any Loans of the same Type and Class made, converted or continued on the same date and, in the case of LIBO Rate Loans, as
to which a single Interest Period is in effect.

 

“Borrowing Request”
means a written request by the Borrower for a Borrowing in accordance with Section 2.03 and substantially in the form attached
hereto as Exhibit B or such other form that is reasonably acceptable to the Administrative Agent and the Borrower.

 

“Burdensome Agreement”
has the meaning assigned to such term in Section 6.05.

 

“Business Day”
means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law
to remain closed; provided that when used in connection with a LIBO Rate Loan, the term “Business Day” shall also
exclude any day on which banks are not open for dealings in Dollar deposits in the London interbank market.

 

“Business Optimization
Initiative” has the meaning assigned to such term in the definition of “Consolidated Adjusted EBITDA”.

 

“Capital Expenditures”
means, with respect to the Borrower and its Restricted Subsidiaries for any period, the aggregate amount, without duplication, of all
expenditures (whether paid in cash or accrued as liabilities and including in all events all amounts expended or capitalized under Capital
Leases) that would, in accordance with GAAP, are, or are required to be included as, capital expenditures on the consolidated statement
of cash flows of the Borrower and its Restricted Subsidiaries for such period.

 

“Capital Lease”
means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee that, in conformity
with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person; provided, that for the avoidance
of doubt, the amount of obligations attributable to any Capital Lease shall be the amount thereof accounted for as a liability in accordance
with GAAP.

 

    8

     

    

 

“Capital Stock”
means any and all shares, interests, participations, preferred equity certificates, convertible preferred equity certificates or other
equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than
a corporation), including partnership interests and membership interests, and any and all warrants, rights or options to purchase or
other arrangements or rights to acquire any of the foregoing, but excluding for the avoidance of doubt any Indebtedness convertible into
or exchangeable for any of the foregoing.

 

“Captive Insurance
Subsidiary” means any Restricted Subsidiary of the Borrower that is subject to regulation as an insurance company (or any Restricted
Subsidiary thereof).

 

“Carlyle Fee Letter”
means the Facility Fee Letter, dated as of the Closing Date, among the Borrower, TCG BDC, Inc., Carlyle Direct Lending CLO 2015-1R
LLC, TCG BDC II SPV LLC, OCPC Credit Facility SPV LLC and Carlyle Skyline Credit Fund, L.P.

 

“Cash”
means money, currency or a credit balance in any Deposit Account, in each case determined in accordance with GAAP.

 

“Cash Equivalents”
means, as at any date of determination, (a) readily marketable securities (i) issued or directly and unconditionally guaranteed
or insured as to interest and principal by the US government or (ii) issued by any agency or instrumentality of the US the obligations
of which are backed by the full faith and credit of the US, in each case maturing within one year after such date and, in each case,
repurchase agreements and reverse repurchase agreements relating thereto, (b) readily marketable direct obligations issued by any
state of the US or any political subdivision of any such state or any public instrumentality thereof or by any foreign government, in
each case maturing within one year after such date and having, at the time of the acquisition thereof, a rating of at least A-2 from
S&P or at least P-2 from Moody’s or at least “A” from Fitch (or, if at any time neither S&P, Moody’s
nor Fitch shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency) and, in
each case, repurchase agreements and reverse repurchase agreements relating thereto, (c) commercial paper maturing no more than
one year from the date of creation thereof and having, at the time of the acquisition thereof, a rating of at least A-2 from S&P,
at least P-2 from Moody’s or at least “F2” from Fitch (or, if at any time neither S&P, Moody’s nor Fitch
shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency), (d) deposits,
money market deposits, time deposit accounts, certificates of deposit or bankers’ acceptances (or similar instruments) maturing
within one year after such date and issued or accepted by any Lender or by any bank organized under, or authorized to operate as a bank
under, the laws of the US, any state thereof or the District of Columbia or any political subdivision thereof or any foreign bank or
its branches or agencies in each case organized under, or authorized to operate as bank under, the laws of any jurisdiction in which
any subsidiary is organized or has operations and that has capital and surplus of not less than $100,000,000 and, in each case, repurchase
agreements and reverse repurchase agreements relating thereto, (e) securities with maturities of six months or less from the date
of acquisition backed by standby letters of credit issued by any commercial bank having capital and surplus of not less than $100,000,000,
(f) shares of any investment fund that has (i) substantially all of its assets invested in the types of investments referred
to in clauses (a) through (e) above, (ii) net assets of not less than $250,000,000 and (iii) a rating
of at least A-2 from S&P, at least P-2 from Moody’s or at least “A” from Fitch (or, if at any time either S&P,
Moody’s or Fitch are not rating such fund, an equivalent rating from another nationally recognized statistical rating agency) and
(g) solely with respect to any Captive Insurance Subsidiary, any investment that such Captive Insurance Subsidiary is not prohibited
to make in accordance with applicable law. “Cash Equivalents” shall also include (x) Investments of the type and maturity
described in clauses (a) through (g) above of foreign obligors, which Investments or obligors (or the parent
companies thereof) have the ratings 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
that are analogous to the Investments described in clauses (a) through (g) and in this paragraph.

 

    9

     

    

 

“Change in Law”
means (a) the adoption of any law, treaty, rule or regulation after the Closing Date, (b) any change in any law, treaty,
rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Closing Date or (c) compliance
by any Lender (or, for purposes of Section 2.15(b), by any lending office of such Lender or by such Lender’s holding
company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made
or issued after the Closing Date (other than any such request, guideline or directive to comply with any law, rule or regulation
that was in effect on the Closing Date). For purposes of this definition and Section 2.15, (x) the Dodd-Frank Wall Street
Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder or issued in connection
therewith or in implementation thereof and (y) all requests, rules, guidelines, requirements or directives promulgated by the Bank
for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or US or foreign regulatory
authorities, in each case pursuant to Basel III, shall in each case described in clauses (a), (b) and (c) above,
be deemed to be a Change in Law, regardless of the date enacted, adopted, issued or implemented.

 

“Change of Control”
means:

 

(a)          at
any time prior to a Public Company Transaction, the Permitted Holders ceasing to beneficially own, either directly or indirectly (within
the meaning of Rule 13d-3 and Rule 13d-5 under the Exchange Act), Capital Stock representing more than 50% of the total voting
power of all of the outstanding voting common stock of Holdings;

 

(b)          at
any time on or after a Public Company Transaction, a Responsible Officer of the Borrower becomes aware of the acquisition of the beneficial
ownership by any Person or group (as used in this definition, within the meaning of Section 13(d)(3) or Section 14(d)(2) of
the Exchange Act) (including any group acting for the purpose of acquiring, holding or disposing of Securities (within the meaning of
Rule 13d-5(b)(1) under the Exchange Act), but excluding (i) any employee benefit plan and/or Person acting as the trustee,
agent or other fiduciary or administrator therefor, (ii) one or more Permitted Holders and (iii) any underwriter in connection
with any Public Company Transaction), of voting common stock representing more than 50% of the total voting power of all of the outstanding
voting common stock of the relevant Public Entity; provided, that notwithstanding the provisions of this clause (b), no
 “Change of Control” shall be deemed to have occurred under this clause (b) if the Permitted Holders have the
right, by voting power, contract or otherwise, to elect or designate for election at least a majority of the board of directors of the
relevant Public Entity; and

 

(c)           the
Borrower ceasing to be a direct or indirect Wholly-Owned Subsidiary of Holdings.

 

For purposes of this definition,
(1) a Person or group shall not be deemed to beneficially own Capital Stock or voting power subject to a stock or asset purchase
agreement, merger agreement or similar agreement (or voting or similar agreement related thereto) until the consummation of the acquisition
of the Capital Stock or voting power pursuant to the transactions contemplated by such agreement, (2) if any group includes one
or more Permitted Holders, the issued and outstanding Capital Stock of the relevant Person that is directly or indirectly owned by the
Permitted Holders that are part of such group shall not be treated as being beneficially owned by such group or any other member of such
group for purposes of this definition, (3) a Person or group will not be deemed to beneficially own the Capital Stock of another
Person as a result of its ownership of the Capital Stock or other securities of such other Person’s parent company (or any related
contractual right) unless it beneficially owns or controls 50% or more of the total voting power of the Capital Stock entitled to vote
for the election of directors of such Person’s parent company having a majority of the aggregate votes on the board of directors
(or equivalent governing body) of such Person’s parent company and (4) it is understood and agreed that any transaction resulting
in a Successor Borrower or Successor Holdings in accordance with the terms hereof shall not give rise to a Change of Control.

 

“Charge”
means any fee, charge, expense, cost, accrual, reserve or loss of any kind.

 

    10

     

    

 

“Charged Amounts”
has the meaning assigned to such term in Section 9.19.

 

“Class”,
when used with respect to (a) any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Initial
Loans, Additional Loans of any series established as a separate “Class” pursuant to Section 2.22, 2.23
and/or 9.02(c)(i), (b) any Commitment, refers to whether such Commitment is an Initial Commitment, an Additional Commitment
of any series established as a separate “Class” pursuant to Section 2.22, 2.23 and/or 9.02(c)(i) and
(c) any Lender, refers to whether such Lender has a Loan or Commitment of a particular Class.

 

“Closing Date”
means June 8, 2021, the date on which the conditions specified in Section 4.01 were satisfied (or waived in accordance
with Section 9.02).

 

“Closing Date Refinancing”
has the meaning assigned to such term in the recitals to this Agreement.

 

“CNI Growth Amount”
means, at any date of determination, for the period (treated as one accounting period) from the first day of the Fiscal Quarter of the
Borrower during which the Closing Date occurs and ending with the last Fiscal Quarter of the Borrower included in the most recently ended
Test Period, an amount (which amount shall not be less than zero for any Fiscal Quarter) determined on a cumulative basis equal to 50%
of Adjusted Consolidated Net Income for each such Fiscal Quarter included in such period (if Adjusted Consolidated Net Income for such
Fiscal Quarter is positive).

 

“Code”
means the Internal Revenue Code of 1986.

 

“Collateral”
means any and all property of any Loan Party subject (or purported to be subject) to a Lien under any Collateral Document and any and
all other property of any Loan Party, now existing or hereafter acquired, that is or becomes subject (or purported to be subject) to
a Lien pursuant to any Collateral Document to secure the Secured Obligations. For the avoidance of doubt, in no event shall “Collateral”
include any Excluded Asset.

 

“Collateral and
Guarantee Requirement” means, at any time, subject to (x) the applicable limitations set forth in this Agreement and/or
any other Loan Document and the terms of any applicable Intercreditor Agreement and (y) the time periods (and extensions thereof)
set forth in Section 5.12 and/or Section 5.15, as applicable, the requirement that:

 

(a)         on
the Closing Date, the Administrative Agent shall have received (A) each Collateral Document and Loan Guaranty listed on Schedule
1.01(d), duly executed by each Loan Party party thereto, (B) a pledge of all of the Capital Stock (together, in the case of
Capital Stock that is certificated, with undated stock or similar powers for each such certificate executed in blank by a Responsible
Officer of the pledgor thereof) listed on Schedule 3 to the Perfection Certificate, (C) each Material Debt Instrument listed
on Schedule 4 to the Perfection Certificate, endorsed (without recourse) in blank or accompanied by executed transfer form in
blank by the pledgor thereof and (D) Uniform Commercial Code financing statements in appropriate form for filing in the jurisdiction
of organization of each Loan Party;

 

(b)           after
the Closing Date, in the case of any Restricted Subsidiary that is required to become (or otherwise becomes) a Loan Party after the Closing
Date the Administrative Agent shall have received:

 

(i)           (A) a
Joinder Agreement, (B) if the respective Restricted Subsidiary required to comply with the requirements set forth in this definition
pursuant to Section 5.12 owns registrations of or applications for US Patents, Trademarks and/or Copyrights that constitute
Collateral, an Intellectual Property Security Agreement, (C) a completed Perfection Certificate, (D) Uniform Commercial Code
financing statements in appropriate form for filing in such jurisdictions as the Administrative Agent may reasonably request and (E) an
executed joinder to each applicable Intercreditor Agreement in substantially the form attached as an exhibit thereto or such other form
to which the Administrative Agent may reasonably agree;

 

    11

     

    

 

(ii)           each
item of Collateral that such Restricted Subsidiary is required to deliver under Section 4.02 of the Security Agreement (which,
for the avoidance of doubt, shall be delivered within the time periods set forth in Section 5.12(a)); and

 

(iii)         in
the case of any subsidiary that has been designated as a Discretionary Guarantor (A) with respect to any such subsidiary that is
a Domestic Subsidiary, the documents described in clause (b)(i) above and (B) with respect to any such subsidiary that
is a Foreign Subsidiary, (1) a Joinder Agreement and (2) such other documentation relating to such categories of assets (other
than Excluded Assets) as the Borrower and Administrative Agent may reasonably agree;

 

(c)           with
respect to any Material Real Estate Asset acquired after the Closing Date the Administrative Agent shall have received:

 

(i)           (A) evidence
that (1) a counterpart of a Mortgage with respect to such Material Real Estate Asset has been duly executed, acknowledged and delivered
by the relevant Loan Party and such Mortgage and, to the extent the same does not serve as a fixture filing in the relevant jurisdiction,
any corresponding UCC or equivalent fixture filing, each in form suitable for filing or recording in all filing or recording offices
that the Administrative Agent may reasonably deem necessary in order to create a valid and subsisting Lien on such Material Real Estate
Asset in favor of the Administrative Agent for the benefit of the Secured Parties, (2) such Mortgage and any corresponding UCC or
equivalent fixture filings have been duly recorded or filed or delivered for recordation or filing, as applicable and (3) all filing
and recording taxes and fees have been paid or otherwise provided for in a manner reasonably satisfactory to the Administrative Agent
and (B) a Flood Certificate; and

 

(ii)           customary
legal opinions of local counsel for the relevant Loan Party in the jurisdiction in which such Material Real Estate Asset is located,
and if applicable, in the jurisdiction of formation of the relevant Loan Party, in each case as the Administrative Agent may reasonably
request.

 

Notwithstanding any provision
of any Loan Document to the contrary, (a) if any mortgage tax or similar tax or charge is or will be owed on the entire amount of
the Obligations evidenced hereby, then, to the extent permitted by, and in accordance with, applicable Requirements of Law, the amount
of such mortgage tax or similar tax or charge shall be calculated based on the lesser of (x) the amount of the Obligations allocated
to the applicable Material Real Estate Asset and (y) the fair market value of the applicable Material Real Estate Asset at the time
the Mortgage is entered into and determined in a manner reasonably acceptable to Administrative Agent and the Borrower, which in the
case of clause (y) will result in a limitation of the Obligations secured by the Mortgage to such amount and (b) no
Loan Party will be required to procure title insurance or any survey with respect to any Mortgaged Property.

 

“Collateral Documents”
means, collectively, (a) the Security Agreement (and any supplement thereto delivered to the Administrative Agent), (b) each
Mortgage, (c) each Intellectual Property Security Agreement, and (d) each of the other instruments and documents pursuant to
which any Loan Party grants (or purports to grant) a Lien on any Collateral as security for payment of the Secured Obligations.

 

“Commercial Tort Claim”
has the meaning set forth in Article 9 of the UCC.

 

    12

     

    

 

“Commitment”
means any Initial Commitment and any Additional Commitment, as applicable, in effect as of such time.

 

“Commitment Schedule”
means the Schedule attached hereto as Schedule 1.01(a).

 

“Commodity Exchange
Act” means the Commodity Exchange Act (7 USC. § 1 et seq.).

 

“Company Competitor”
means any competitor of the Borrower and/or any of its subsidiaries.

 

“Competitor Debt
Fund Affiliate” means, with respect to any Company Competitor or any Affiliate thereof, any debt fund, investment vehicle,
regulated bank entity or unregulated lending entity (in each case, other than any Disqualified Lending Institution or any Excluded Party)
that is (a) primarily engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of
credit in the ordinary course of business for financial investment purposes (but not with a view towards (i) owning the borrower
or issuer of any such loan or similar extension of credit or (ii) investing in special or opportunistic situations) and (b) managed,
sponsored or advised by any person that is controlling, controlled by or under common control with the relevant Company Competitor or
Affiliate thereof, but only to the extent that no personnel involved with the investment in the relevant Company Competitor or its Affiliates,
or the management, control or operation thereof, (i) makes (or has the right to make or participate with others in making) investment
decisions on behalf of, or otherwise cause the direction of the investment policies of, such debt fund, investment vehicle, regulated
bank entity or unregulated entity or (ii) has access to any information (other than information that is publicly available) relating
to the Borrower and/or any entity that forms part of its business (including any of its subsidiaries).

 

“Compliance Certificate”
means a Compliance Certificate substantially in the form of Exhibit D or such other form to which the Borrower and the Administrative
Agent may reasonably agree.

 

“Confidential Information”
has the meaning assigned to such term in Section 9.13.

 

“Consolidated Adjusted
EBITDA” means, with respect to any Person on a consolidated basis for any period, the sum of:

 

(a)           Consolidated
Net Income for such period; plus

 

(b)          to
the extent not otherwise included in the determination of Consolidated Net Income for such period, the amount of any proceeds of any
business interruption insurance policy (whether or not then received so long as such Person in good faith expects to receive such proceeds);
plus

 

(c)          without
duplication, those amounts which, in the determination of Consolidated Net Income for such period, have been deducted for:

 

(i)          Consolidated
Interest Expense; plus

 

(ii)           losses
or discounts on sales or other payments of receivables and related assets in connection with any Receivables Facility or similar arrangement;
plus

 

(iii)         Taxes
paid and any provision for Taxes, including income, capital, federal, provincial, state, franchise, excise, value added and similar Taxes,
property Taxes, foreign withholding Taxes and foreign unreimbursed value added Taxes (including penalties and interest related to any
such Tax or arising from any Tax examination, and including pursuant to any Tax sharing arrangement or as a result of any intercompany
distribution) of such Person paid or accrued during such period; plus

 

    13

     

    

 

(iv)         (A) all
depreciation and amortization (including, without limitation, amortization of goodwill, software and other intangible assets), (B) all
impairment Charges, including any bad debt expense, and (C) all asset write-offs and/or write-downs, including any amortization
or write-off of (1) intangible assets and non-cash organization costs, (2) deferred financing and debt issuance fees, costs
and expenses, (3) capitalized expenditures (including capitalized software expenditures), customer acquisition costs and incentive
payments, (4) media development costs, conversion costs and contract acquisition costs, (5) the amortization of original issue
discount resulting from the issuance or incurrence of Indebtedness at less than par, (6) the amortization of favorable or unfavorable
lease assets or liabilities and/or (7) capitalized fees relating to any Receivables Facility; plus

 

(v)         any
earn-out and/or contingent consideration obligation (including those accounted for as bonuses, compensation or otherwise) and any adjustment
thereof incurred in connection with the Transactions and/or any acquisition and/or other Investment (whether or not consummated) which
is paid or accrued during such period and, in each case, adjustments thereof; plus

 

(vi)           any
non-cash Charge, including the excess of GAAP rent expense over actual cash rent paid during such period due to the use of straight line
rent for GAAP purposes (provided, that to the extent that any such non-cash Charge represents an accrual or reserve for any potential
cash item in any future period, (A) such Person may elect not to add back such non-cash Charge in the current period and (B) to
the extent such Person elects to add back such non-cash Charge in the current period, the cash payment in respect thereof in such future
period shall not be added back to Consolidated Adjusted EBITDA to such extent); plus

 

(vii)         any
non-cash compensation Charge and/or any other non-cash Charge arising from the granting of any stock option or similar arrangement (including
any profits interest), the granting of any stock appreciation right and/or similar arrangement (including any repricing, amendment, modification,
substitution or change of any such stock option, stock appreciation right, profits interest or similar arrangement); plus

 

(viii)      (A) Transaction
Costs, (B) any Charge incurred in connection with any transaction (in each case, whether or not consummated and whether or not permitted
under this Agreement), including (1) any issuance and/or incurrence of Indebtedness (including any Charge that would constitute
a Public Company Cost), any Receivables Facility (including commissions, discounts, yield, interest expense and similar fees and charges
relating thereto) and/or any issuance and/or offering of Capital Stock (including, in each case, by any Parent Company), any acquisition
or other Investment, any Disposition, any recapitalization, any merger, consolidation or amalgamation, any option buyout or any repayment,
redemption, refinancing, amendment or modification of Indebtedness (including any amortization or write-off of debt issuance or deferred
financing costs, premiums and prepayment penalties) or any similar transaction, (2) in connection with any Public Company Transaction
(whether or not consummated), including any Charge that would constitute a Public Company Cost and/or (3) equipment leases and/or
equipment financings, (C) the amount of any Charge that is actually reimbursed or reimbursable by any third party pursuant to any
indemnification or reimbursement provision or similar agreement (including any purchase price adjustment) or insurance; provided
that in respect of any Charge that is added back in reliance on this clause (C), the relevant Person in good faith expects
to receive reimbursement for such Charge and/or (D) Public Company Costs; plus

 

(ix)           any
Charge or deduction that is associated with any Restricted Subsidiary and attributable to any non-controlling interest and/or minority
interest of any third party; plus

 

    14

     

    

 

 

(x)          without
duplication of any amount referred to in clause (b) above, the amount of (A) any Charge to the extent that a corresponding
amount is received in cash by such Person from a Person other than such Person or any Restricted Subsidiary of such Person under any agreement
providing for reimbursement of such Charge or (B) any Charge with respect to any liability or casualty event, business interruption
or any product recall, (i) so long as such Person has submitted in good faith, and reasonably expects to receive payment in connection
with, a claim for reimbursement of such amounts under its relevant insurance policy or (ii) without duplication of any amount included
in a prior period under clause (B)(i) above, to the extent such Charge is covered by insurance proceeds received in cash during
such period (it being understood that if the amount received in cash under any such agreement in any period exceeds the amount of any
Charge paid during such period such excess amounts received may be carried forward and applied against any Charge in any future period);
plus

 

(xi)          (A) the
amount of management, monitoring, consulting, transaction and advisory fees and related indemnities and/or expenses (including reimbursements)
pursuant to any sponsor management agreement (including prior to the Closing Date) and any payment made to any Investor (and/or its Affiliates
or management companies) for any financial advisory, financing, underwriting or placement services or in respect of other investment banking
activities and/or payments to outside directors of the Borrower, Holdings or any other Parent Company actually paid by or on behalf of,
or accrued by, such Person or any of its subsidiaries; provided, that, in each case, such payment is permitted under this Agreement
and (B) to the extent the relevant payment is permitted hereunder, the amount of any payment to any holder of any option in respect
of the Capital Stock of the Borrower, Holdings and/or any other Parent Company in lieu of a Restricted Payment, which payment is made
to compensate such optionholder as if it was an equity holder at the time of the relevant Restricted Payment; plus

 

(xii)          any
Charge attributable to the undertaking and/or implementation of new initiatives, business optimization activities, cost savings initiatives,
cost rationalization programs, operating improvements and/or expense reductions and/or synergies and/or similar initiatives and/or programs
(including in connection with any integration, operational improvement, restructuring or transition, any reconstruction, decommissioning,
recommissioning or reconfiguration of fixed assets for alternative uses, any facility opening and/or pre-opening), any inventory optimization
program and/or any curtailment, any business optimization Charge, any restructuring and/or integration Charge (including any Charge relating
to any Tax restructuring), any Charge relating to the closure or consolidation of any facility (including but not limited to rent termination
costs, moving costs and legal costs), any systems implementation Charge, any severance Charge, any Charge relating to any strategic initiative,
any signing Charge, any Charge relating to any retention or completion bonus, any expansion and/or relocation Charge, any Charge associated
with any modification to any pension or other post-retirement employee benefit plan, any Charge associated with system design, update
and/or establishment, any upgrade Charge, any platform optimization Charge, any new system implementation Charge, any startup and/or expansion
Charge (including administrative, overhead, staffing and related costs and expenses), any Charge in connection with new and/or expanded
operations, any Charge in connection with unused warehouse space or unused manufacturing facilities, any Charge relating to a new contract,
any consulting Charge, or any corporate development Charge, any Charge relating to any distribution network and/or sales channel, any
Charge in connection with any exit from, wind down or termination of any line of business, any Charge related to any customer dispute
and/or any Charge in connection with the implementation, replacement, development or upgrade of any operational, reporting and/or information
technology system and/or technology initiative; plus

 

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(xiii)         any
Charge incurred or accrued in connection with any single or one-time event, including in connection with (A) any acquisition or similar
Investment consummated after the Closing Date, (B) the closing, consolidation, opening or reconfiguration of any facility during
such period, (C) any restructuring Charge, (D) one-time consulting costs or expenses and/or (E) any litigation or other
legal matter; plus

 

(xiv)          any
Charge relating to entry into a new market or the sale of products in new locations (including, without limitation, start-up costs, slotting
fees (including in connection with the buyout of existing merchandise), new fixture freight costs, initial testing and registration costs
in new markets, the cost of feasibility studies, travel costs for employees engaged in activities relating to any or all of the foregoing
and the allocation of general and administrative support in connection with any and all of the foregoing); plus

 

(xv)          excess
owners’ and management compensation, perquisites, above-market rent, cash accrual and accounting differences and personal expenses
paid or accrued prior to the Closing Date and/or attributable to the target of any acquisition or similar Investment permitted hereunder;
plus

 

(xvi)        any
add-back, adjustment and/or exclusion of the type reflected in (i) the Financial Model and/or (ii) any quality of earnings report
prepared by any independent registered public accountant of recognized national standing or any other accounting firm reasonably acceptable
to the Administrative Agent, in each case, delivered to the Administrative Agent (including, for the avoidance of doubt, in connection
with any acquisition or similar investment prior to or after the Closing Date); plus

 

(d)           to
the extent not included in Consolidated Net Income for such period, cash actually received (or any netting arrangement resulting in reduced
cash expenditures) during such period in respect of any non-cash income or gain that was deducted in the calculation of Consolidated Adjusted
EBITDA (including any component definition) pursuant to clause (j) below for any previous period and not added back; plus

 

(e)           the
full pro forma “run rate” expected cost savings, operating expense reductions, operational improvements and/or cost synergies
(collectively, “Run-Rate Synergies”) (net of actual amounts realized) that are reasonably identifiable (in the good
faith determination of such Person) related to (A) the Transactions, (B) any asset sale, merger or other business combination, Investment,
Disposition, operating improvement, expense reduction, restructuring, cost savings initiative and/or any initiative similar to any of
the foregoing (including the entry into or renegotiation of any contract and/or other arrangement (including any such contract and/or
other arrangement in respect of which binding commitments have been provided)) and/or specified transaction (each, a “Business
Optimization Initiative”), in each case, consummated or implemented prior to or on the Closing Date and (C) any Business
Optimization Initiative consummated or implemented after the Closing Date; provided that, with respect to this clause (C),
(i) the relevant action resulting in (or substantial steps towards the relevant action that would result in) such Run Rate Synergies
must either be taken or expected to be taken within 24 months following the applicable date of determination and (ii) the amounts
added back in reliance on this clause (C) in any Test Period shall not exceed 25% of Consolidated Adjusted EBITDA for such
Test Period (calculated after giving full effect to the adjustments contemplated by this clause (C) and all other permitted
addbacks and pro forma adjustments without giving effect to any cap set forth in any provision of this definition (the “Run-Rate
Synergy Cap”); provided further, that the Run-Rate Synergy Cap shall not apply to (I) any other provision of this
definition of “Consolidated Adjusted EBITDA” or any adjustment identified in the Financial Model (without regard to the amounts
or time periods therein), or (II) any amount relating to any pro forma adjustment consistent with Regulation S-X under the Securities
Act; plus

 

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(f)            [Reserved];
plus

 

(g)           [Reserved];
plus

 

(h)          to
the extent not otherwise included in calculating Consolidated Net Income, the amount of any distribution received by such Person from
any Unrestricted Subsidiary; plus

 

(i)            [Reserved];
minus

 

(j)           any
amount which, in the determination of Consolidated Net Income for such period, has been added for any non-cash income or non-cash gain,
all as determined in accordance with GAAP; provided that if any non-cash income or non-cash gain represents an accrual or deferred
income in respect of potential cash items in any future period, such Person may determine not to deduct the relevant non-cash gain or
income in the then-current period; minus

 

(k)            the
amount of any cash payment made during such period in respect of any non-cash accrual, reserve or other non-cash Charge that (A) is
accounted for in a prior period, (B) was added to Consolidated Net Income to determine Consolidated Adjusted EBITDA for such prior
period and (C) does not otherwise reduce Consolidated Net Income for the current period.

 

Notwithstanding anything to
the contrary herein, it is agreed that for the purpose of calculating the First Lien Net Leverage Ratio, the Secured Net Leverage Ratio,
the Total Net Leverage Ratio and/or the amount of any basket based on a percentage of Consolidated Adjusted EBITDA for any period that
includes any Fiscal Quarter listed in the table set forth below, Consolidated Adjusted EBITDA for any Fiscal Quarter referenced in the
table set forth below shall be the amount set forth opposite such Fiscal Quarter in the table set forth below, in each case as adjusted
on a Pro Forma Basis. It is understood and agreed for the avoidance of doubt that the “deemed” Consolidated Adjusted EBITDA
numbers set forth below shall not reduce the amount available under any cap set forth in this definition of “Consolidated Adjusted
EBITDA”.

 

	Fiscal Quarter Ended On or About	 	Consolidated Adjusted EBITDA	 
	June 27, 2020	 	$	36,300,000	 
	September 26, 2020	 	$	27,400,000	 
	January 2, 2021	 	$	26,500,000	 
	April 3, 2021	 	$	38,500,000	 

 

“Consolidated First
Lien Debt” means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding
on such date that is secured by a Lien on substantially all of the Collateral and that constitutes First Lien Debt.

 

“Consolidated Interest
Expense” means, with respect to any Person for any period, the sum of (a) consolidated total interest expense of such Person
and its Restricted Subsidiaries for such period, whether paid or accrued and whether or not capitalized, (including, without limitation
and without duplication, amortization of any debt issuance cost, original issue discount, any premium paid to obtain payment, financial
assurance or similar bonds, any interest capitalized during construction, any non-cash interest payment, the interest component of any
deferred payment obligation, the interest component of any payment under any Capital Lease (regardless of whether accounted for as interest
expense under GAAP), any commission, discount and/or other fee or charge owed with respect to any letter of credit and/or bankers’
acceptance, any fee and/or expense paid to the Administrative Agent in connection with its services hereunder, any other bank, administrative
agency (or trustee) and/or financing fee, to the extent not otherwise included in consolidated total interest expense, customary commissions,
discounts, yield and other fees and charges (including interest expense) relating to any Receivables Facility and any cost associated
with any surety bond in connection with financing activities (whether amortized or immediately expensed)) plus (b) any cash
dividend paid or payable in respect of Disqualified Capital Stock during such period other than to such Person or any Loan Party, plus
(c) any net losses or obligations arising from any Hedge Agreement and/or other derivative financial instrument issued by such Person
for the benefit of such Person or its subsidiaries, in each case, determined on a consolidated basis for such period. For purposes of
this definition, interest in respect of any Capital Lease shall be deemed to accrue at an interest rate reasonably determined by such
Person to be the rate of interest implicit in such Capital Lease in accordance with GAAP.

 

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“Consolidated Net
Income” means, in respect of any period and as determined for any Person (the “Subject Person”) on a consolidated
basis, an amount equal to the sum of net income, determined in accordance with GAAP, but excluding:

 

(a)          (i) the
income of any Person (other than the Subject Person or a Restricted Subsidiary of the Subject Person) in which any other Person (other
than the Subject Person or any Restricted Subsidiary of the Subject Person) has a joint interest, except to the extent of the amount of
dividends, distributions or other payments (including any ordinary course dividend, distribution or other payment) paid in cash (or to
the extent converted into cash) to the Subject Person or any of its Restricted Subsidiaries by such Person during such period and (ii) the
loss of any Person (other than the Subject Person or a Restricted Subsidiary of the Subject Person (or a Person who, if a subsidiary of
the Subject Person, would be a Restricted Subsidiary of the Subject Person)) in which any other Person (other than the Subject Person
or any of its Restricted Subsidiaries) has a joint interest, other than to the extent that the Subject Person or any of its Restricted
Subsidiaries has contributed Cash or Cash Equivalents to such Person in respect of such loss during such period;

 

(b)            any
gain or Charge attributable to any asset Dispositions (including asset retirement costs and including any abandonment of assets) or of
returned surplus assets outside the ordinary course of business;

 

(c)           (i) any
Charge from (A) any extraordinary item (as determined in good faith by such Person) and/or (B) any unusual, non-recurring, infrequent
and/or exceptional item (as determined in good faith by such Person) and/or (ii) any Charge attributable to and/or payment of any
legal settlement, fine, judgment or order;

 

(d)          any
net gain or Charge with respect to, or in connection with, (i) any disposed, abandoned, divested and/or discontinued asset, property
or operation (other than, at the option of such Person, any gain or Charge relating to any asset, property or operation held for sale
or pending the divestiture and/or termination thereof), (ii) any disposal, abandonment, divestiture and/or discontinuation of any
asset, property or operation outside the ordinary course of business (including any asset retirement cost) (other than, at the option
of such Person, any gain or Charge relating to assets or properties held for sale or pending the divestiture or termination thereof) and/or
(iii) any facility that has been closed during such period;

 

(e)           (i) any
write-off or amortization made of any deferred financing cost and/or premium paid and (ii) any Charge attributable to the early extinguishment
of Indebtedness (and the termination of any associated Hedge Agreement);

 

(f)            (i) any
Charge incurred as a result of, pursuant to or in connection with any management equity plan, bonus or other incentive plan, profits interest
plan or stock option plan or any other management or employee benefit plan or agreement, pension plan or other long-term or post-employment
plan (including any post-employment benefit scheme which has been agreed with the relevant pension trustee), any stock subscription or
shareholder agreement, any employee benefit trust, any employment benefit scheme or any similar equity plan or agreement (including any
deferred compensation arrangement) and (ii) any Charge incurred in connection with the rollover, acceleration or payout of Capital
Stock held by management; provided, that, in the case of clause (ii), to the extent that any such Charge is a cash charge,
such Charge shall only be excluded to the extent the same is funded with net cash proceeds contributed to relevant Person as a capital
contribution or as a result of the sale or issuance of Qualified Capital Stock;

 

    18

     

    

 

(g)            any
Charge that is established, adjusted and/or incurred, as applicable, (i) within 12 months after the Closing Date that is required
to be established, adjusted or incurred, as applicable, as a result of the Transactions in accordance with GAAP, (ii) within 12 months
after the closing of any other acquisition or similar Investment that is required to be established, adjusted or incurred, as applicable,
as a result of such acquisition in accordance with GAAP or (iii) as a result of any change in, or the adoption or modification of,
accounting principles and/or policies in accordance with GAAP;

 

(h)            (i) the
effects of adjustments (including the effects of such adjustments pushed down to the relevant Person and its subsidiaries) in component
amounts required or permitted by GAAP (including in the inventory, property and equipment, leases, rights fee arrangements, software,
goodwill, intangible assets, in-process research and development, deferred revenue, advanced billing and debt line items thereof), resulting
from the application of purchase accounting, recapitalization accounting and/or acquisition method accounting, as applicable, in relation
to the Transactions or any consummated acquisition or other Investment or the amortization or write-off of any amount thereof, and (ii) the
cumulative effect of changes (effected through cumulative effect adjustment or retroactive application) in, and/or any change resulting
from the adoption or modification of, accounting principles or policies made in such period in accordance with GAAP which affect Consolidated
Net Income (except that, if such Person determines in good faith that the cumulative effects thereof are not material to the interests
of the Lenders, the effects of any change, adoption or modification of any such principles or policies may be included in any subsequent
period after the Fiscal Quarter in which such change, adoption or modification was made);

 

(i)             [reserved];

 

(j)          (i) any
realized or unrealized gain and/or loss in the fair market value of (A) any obligation under any Hedge Agreement as determined in
accordance with GAAP and/or (B) any other derivative instrument pursuant to, in the case of this clause (B), Financial Accounting
Standards Board’s Accounting Standards Codification No. 815-Derivatives and Hedging, and/or (ii) any realized or unrealized
foreign currency translation or transaction gain or loss (including any currency re-measurement of Indebtedness, any net gain or loss
resulting from Hedge Agreements for currency exchange risk associated with the foregoing or any other currency related risk and any gain
or loss resulting from any intercompany Indebtedness, any foreign currency translation or transaction or any other currency-related risk);
provided, that notwithstanding anything to the contrary herein, any realized gain or loss in respect of any Designated Operational
FX Hedge shall be included in the calculation of Consolidated Net Income;

 

(k)          any
deferred Tax expense associated with any tax deduction or net operating loss arising as a result of the Transactions, or the release of
any valuation allowance related to any such item;

 

(l)            any
non-cash (and, with respect to clause (ii), cash) Charge (including any implementation Charge) (other than any write-down of current
assets) (including non-cash compensation expense and any amount representing any non-cash adjustment) required by the application of (i) FASB
Statement No. 144, (ii) FASB Statement No. 141R, (iii) FASB Statement No. 142 and (iv) Accounting Standards
Update No. 2014-09, Revenue from Contracts with Customers;

 

(m)          any
cash or non-cash Charge required by the application of FASB Statement No. 141R to be expensed by such Person and/or any Restricted
Subsidiary during the applicable period; and

 

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(n)         (i) any
one-time cumulative effect adjustment resulting from any change in accounting for revenue required by Accounting Standards Codification
606 or its replacement) and/or (ii) any Charge incurred in connection with the implementation of ASC 606.

 

“Consolidated Secured
Debt” means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding
on such date that is secured by a Lien on substantially all of the Collateral.

 

“Consolidated Total
Assets” means, at any date, all amounts that would, in conformity with GAAP, be set forth opposite the caption “total
assets” (or any like caption) on a consolidated balance sheet of the applicable Person at such date.

 

“Consolidated Total
Debt” means, as to any Person at any date of determination, (x) the aggregate outstanding principal amount of all third
party debt for borrowed money (including LC Disbursements (as defined in the First Lien Credit Agreement)) that have not been reimbursed
within three Business Days and excluding, for the avoidance of doubt, undrawn letters of credit), (y) to the extent constituting
Indebtedness, obligations in respect of Capital Leases and (z) the aggregate outstanding principal amount of all purchase money Indebtedness,
in each case, as such amount may be adjusted to reflect the effect (as determined by the Borrower in good faith) of any Debt FX Hedge,
calculated on a mark-to-market basis; provided, that “Consolidated Total Debt” shall be calculated (a) net of
the Unrestricted Cash Amount and (b) excluding (i) any obligation, liability or indebtedness of such Person if, upon or prior
to the maturity thereof, such Person has irrevocably deposited with the proper Person in trust or escrow the necessary funds (or evidences
of indebtedness) for the payment, redemption or satisfaction of such obligation, liability or indebtedness, and thereafter such funds
and evidences of such obligation, liability or indebtedness or other security so deposited are not included in the calculation of the
Unrestricted Cash Amount, (ii) any debt the proceeds of which are held in Escrow, (iii) amounts owing under any Receivables
Facility and (iv) obligations under the Noosa Lease Agreement.

 

“Consolidated Working
Capital” means, as at any date of determination, the excess of Current Assets over Current Liabilities.

 

“Contractual Obligation”
means, as applied to any Person, any provision of any Security issued by that Person or of any indenture, mortgage, deed of trust, contract,
undertaking, agreement or other instrument to which that Person is a party or by which it or any of its properties is bound or to which
it or any of its properties is subject.

 

“Contribution Indebtedness
Amount” has the meaning assigned to such term in Section 6.01(r).

 

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

 

“Convertible Indebtedness”
means Indebtedness of the Public Entity (which may be guaranteed by any Loan Party) that is (a) permitted to be incurred hereunder
and (b) either (i) convertible into common equity of the Public Entity (and cash in lieu of fractional shares) and/or cash (in
an amount determined by reference to the price of such common equity) or (ii) sold as a unit with any call option, warrant and/or
right to purchase (or any substantially equivalent derivative transaction) that is exercisable for common equity of the Public Entity
and/or cash (in an amount determined by reference to the price of such common equity).

 

“Copyright”
means the following: (a) all copyrights, rights and interests in copyrights, works protectable by copyright whether published or
unpublished, copyright registrations and copyright applications; (b) all renewals of any of the foregoing; (c) all income, royalties,
damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without limitation, damages or payments
for past or future infringements for any of the foregoing; (d) the right to sue for past, present, and future infringements of any
of the foregoing; and (e) all rights corresponding to any of the foregoing.

 

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“Corresponding Amount”
has the meaning assigned to such term in Section 8.14(c).

 

“Covered Party”
has the meaning assigned to such term in Section 9.26(a).

 

“Credit Party”
has the meaning assigned to such term in Section 9.14.

 

“Cure Amount”
has the meaning assigned to such term in the First Lien Credit Agreement.

 

“Cured Default” has
the meaning assigned to such term in Section 1.15(b).

 

“Current Assets”
means, at any date, (a) all assets of the Borrower and its Restricted Subsidiaries which under GAAP would be classified as current
assets (excluding any (i) cash or Cash Equivalents (including cash and Cash Equivalents held on deposit for third parties by the
Borrower and/or any Restricted Subsidiary), (ii) permitted loans to third parties, (iii) deferred bank fees and derivative financial
instruments related to Indebtedness, (iv) the current portion of current and deferred Taxes and (v) management fees receivables)
and (b) in the event that any Receivables Facility is accounted for off-balance sheet, (i) gross receivables subject to such
Receivables Facility minus (ii) collections against the amounts sold pursuant to such Receivables Facility.

 

“Current Liabilities”
means, at any date, all liabilities of the Borrower and its Restricted Subsidiaries which under GAAP would be classified as current liabilities,
other than (i) short term debts, including current maturities of long term debt, (ii) outstanding revolving loans and letter
of credit exposure, (iii) accruals of Consolidated Interest Expense (excluding Consolidated Interest Expense that is due and unpaid),
(iv) obligations in respect of derivative financial instruments related to Indebtedness, (v) the current portion of current
and deferred Taxes, (vi) liabilities in respect of unpaid earnouts or unpaid acquisition, disposition or refinancing related expenses,
deferred purchase price holdbacks, (vii) accruals relating to restructuring reserves, (viii) liabilities in respect of funds
of third parties on deposit with the Borrower and/or any Restricted Subsidiary, (ix) management fees payables, (x) the current
portion of any Capital Lease Obligation, (xi) the current portion of any other long term liability for Indebtedness, (xii) accrued
settlement costs, (xiii) non-cash compensation costs and expenses, (xiv) deferred revenue arising from cash receipts that are
earmarked for specific projects and (xv) any other liabilities that are not Indebtedness and will not be settled in Cash or Cash
Equivalents during the next succeeding twelve month period after such date.

 

“Customary Bridge
Loans” means bridge loans with a maturity date of not longer than one year; provided that (a) the Weighted Average
Life to Maturity of any loan, note, security or other Indebtedness which is exchanged for or otherwise replaces (or is to be exchanged
for or otherwise replace) such bridge loans is not shorter than the Weighted Average Life to Maturity of any Class of then-existing
Loans and (b) the final maturity date of any loan, note, security or other Indebtedness which is exchanged for or otherwise replaces
(or is to be exchanged for or otherwise replace) such bridge loans is not earlier than the Latest Maturity Date on the date of the issuance
or incurrence thereof.

 

“Customary Term A
Loans” means term loans that (a) have scheduled amortization of 2.50% or more per annum in at least three years during
the term thereof, (b) have a final maturity date of five years or less and (c) are primarily syndicated to commercial and/or
investment banks (as determined by the Borrower in good faith).

 

“De Minimis Proceeds”
has the meaning assigned to such term in Section 2.11(b)(ii).

 

“De Minimis Proceeds
Threshold” has the meaning assigned to such term in Section 2.11(b)(ii).

 

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“Debt Fund Affiliate”
means any Affiliate of Advent (other than a natural Person) that is a bona fide debt fund or other investment vehicle (in each case with
one or more bona fide investors to whom its managers owe fiduciary duties independent of their fiduciary duties to Advent) that is primarily
engaged in, or advises funds or other investment vehicles that are engaged in, making, purchasing, holding or otherwise investing in commercial
loans, bonds and similar extensions of credit in the ordinary course.

 

“Debt FX Hedge”
means any Hedge Agreement entered into for the purpose of hedging currency related risks in respect of any Indebtedness of the type described
in the definition of “Consolidated Total Debt”.

 

“Debtor Relief Laws”
means the Bankruptcy Code of the US, and all other liquidation, conservatorship, bankruptcy, general assignment for the benefit of creditors,
moratorium, rearrangement, receivership, insolvency, reorganization or similar debtor relief laws of the US or other applicable jurisdictions
from time to time in effect and affecting the rights of creditors generally.

 

“Declined Proceeds”
has the meaning assigned to such term in Section 2.11(b)(v).

 

“Default”
means any event or condition which upon notice, lapse of time or both would become an Event of Default.

 

“Defaulting Lender”
means any Person that has (a) defaulted in (or is otherwise unable to perform) its obligations under this Agreement, including its
obligation, to make a Loan within two Business Days of the date required to be made by it hereunder, unless such Person notifies the Administrative
Agent in writing that such failure is the result of such Person’s good faith determination that a condition precedent to funding
(specifically identified and including the particular default, if any) has not been satisfied, (b) notified the Administrative Agent
or the Borrower in writing that it does not intend to satisfy or perform any such obligation or has made a public statement to the effect
that it does not intend to comply with its funding or other obligations under this Agreement or under agreements in which it commits to
extend credit generally (unless such writing indicates that such position is based on such Person’s good faith determination that
a condition precedent (specifically identified and including the particular default, if any) to funding a Loan cannot be satisfied), (c) failed,
within two Business Days after the request of the Administrative Agent or the Borrower, to confirm in writing that it will comply with
the terms of this Agreement relating to its obligations to fund any prospective Loan; provided that such Person shall cease to
be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent,
(d) become (or any parent company thereof has become) insolvent or been determined by any Governmental Authority having regulatory
authority over such Person or its assets, to be insolvent, or the assets or management of which has been taken over by any Governmental
Authority or (e)(i) become (or any parent company thereof has become) either the subject of (A) a bankruptcy or insolvency proceeding
or (B) a Bail-In Action, (ii) has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors
or similar Person charged with reorganization or liquidation of its business or custodian, appointed for it, or (iii) has taken any
action in furtherance of, or indicating its consent to, approval of or acquiescence in, any such proceeding or appointment, unless in
the case of any Person subject to this clause (e), the Borrower and the Administrative Agent have each determined that such Person
intends, and has all approvals required to enable it (in form and substance satisfactory to the Borrower and the Administrative Agent),
to continue to perform its obligations hereunder; provided that no Person shall be deemed to be a Defaulting Lender solely by virtue
of the ownership or acquisition of any Capital Stock in such Person or its parent by any Governmental Authority; provided that
such action does not result in or provide such Person with immunity from the jurisdiction of courts within the US or from the enforcement
of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority) to reject, repudiate, disavow
or disaffirm any contract or agreement to which such Person is a party.

 

“Delaware Divided
LLC” means any Delaware LLC which has been formed upon the consummation of a Delaware LLC Division.

 

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“Delaware LLC”
means any limited liability company organized or formed under the laws of the State of Delaware.

 

“Delaware LLC Division”
means the statutory division of any Delaware LLC into two or more Delaware LLCs pursuant to Section 18-217 of the Delaware Limited
Liability Company Act.

 

“Deposit Account”
means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization,
other than an account evidenced by a negotiable certificate of deposit.

 

“Derivative Transaction”
means (a) any interest-rate transaction, including any interest-rate swap, basis swap, forward rate agreement, interest rate option
(including a cap, collar or floor), and any other instrument linked to interest rates that gives rise to similar credit risks (including
when-issued securities and forward deposits accepted), (b) any exchange-rate transaction, including any cross-currency interest-rate
swap, any forward foreign-exchange contract, any currency option, and any other instrument linked to exchange rates that gives rise to
similar credit risks, (c) any equity derivative transaction, including any equity-linked swap, any equity-linked option, any forward
equity-linked contract, and any other instrument linked to equities that gives rise to similar credit risk and (d) any commodity
(including precious metal) derivative transaction, including any commodity-linked swap, any commodity-linked option, any forward commodity-linked
contract, and any other instrument linked to commodities that gives rise to similar credit risks; provided, that no phantom stock
or similar plan providing for payments only on account of services provided by current or former directors, officers, employees, members
of management, managers or consultants of the Borrower or its subsidiaries shall be a Derivative Transaction.

 

“Designated Non-Cash
Consideration” means the fair market value (as determined by the Borrower in good faith) of non-Cash consideration received
by the Borrower or any Restricted Subsidiary in connection with any Disposition pursuant to Section 6.07(h) that is designated
as Designated Non-Cash Consideration pursuant to a certificate of a Responsible Officer of the Borrower, setting forth the basis of such
valuation (which amount will be reduced by the amount of Cash or Cash Equivalents received in connection with a subsequent sale or conversion
of such Designated Non-Cash Consideration to Cash or Cash Equivalents).

 

“Designated Operational
FX Hedge” means any Hedge Agreement (a) entered into for the purpose of hedging currency-related risks in respect of the
revenues, cash flows or other balance sheet items of the Borrower and/or any of its subsidiaries and (b) designated at the time entered
into (or on or prior to the Closing Date, with respect to any Hedge Agreement entered into on or prior to the Closing Date) as a Designated
Operational FX Hedge by the Borrower in a writing delivered to the Administrative Agent.

 

“Discretionary Guarantor”
has the meaning assigned to such term in Section 5.12(c).

 

“Disposition”
or “Dispose” means the sale, lease, sublease, or other disposition of any property of any Person, including any disposition
of property to a Delaware Divided LLC pursuant to a Delaware LLC Division.

 

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“Disqualified Capital
Stock” means any Capital Stock which, by its terms (or by the terms of any security into which it is convertible or for which
it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of an optional redemption
by the issuer thereof) or is mandatorily redeemable (other than for Qualified Capital Stock), pursuant to a sinking fund obligation or
otherwise, or is redeemable at the option of the holder thereof (other than for Qualified Capital Stock), in whole or in part, on or prior
to the date that is 91 days following the Latest Maturity Date at the time such Capital Stock is issued (it being understood that if any
such redemption is in part, only such part coming into effect prior to the date that is 91 days following the Latest Maturity Date shall
constitute Disqualified Capital Stock), (b) is or becomes convertible into or exchangeable (unless at the sole option of the issuer
thereof) for (i) debt securities or (ii) any Capital Stock that would constitute Disqualified Capital Stock, in each case at
any time on or prior to the date that is 91 days following the Latest Maturity Date at the time such Capital Stock is issued or (c) contains
any mandatory repurchase obligation (other than for Qualified Capital Stock), in whole or in part, which may come into effect prior to
the date that is 91 days following the Latest Maturity Date at the time such Capital Stock is issued (it being understood that if any
such repurchase obligation is in part, only such part coming into effect prior to the date that is 91 days following the Latest Maturity
Date shall constitute Disqualified Capital Stock); provided that any (x) Capital Stock that would not constitute Disqualified Capital
Stock but for provisions thereof giving holders thereof (or the holders of any security into or for which such Capital Stock is convertible,
exchangeable or exercisable) the right to require the issuer thereof to redeem such Capital Stock upon the occurrence of any change of
control, Public Company Transaction or any other liquidity event or any Disposition occurring prior to the date that is 91 days following
the Latest Maturity Date at the time such Capital Stock is issued shall not constitute Disqualified Capital Stock if the documentation
governing such Capital Stock provides that the issuer thereof will not redeem any such Capital Stock pursuant to such provisions unless
either (1) the relevant redemption is permitted by the terms of this Agreement or (2) the Termination Date has occurred and
(y) for purposes of clause (a) through (c) above, it is understood and agreed that if any such maturity, redemption conversion,
exchange, repurchase obligation or scheduled payment is in part, only such part coming into effect prior to the date that is 91 days following
the Latest Maturity Date (determined at the time such Capital Stock is issued) shall constitute Disqualified Capital Stock.

 

Notwithstanding the preceding
sentence, (A) if such Capital Stock is issued pursuant to any plan for the benefit of directors, officers, employees, members of
management, managers or consultants or by any such plan to such directors, officers, employees, members of management, managers or consultants,
in each case in the ordinary course of business of the Borrower or any Restricted Subsidiary and/or any Parent Company, such Capital Stock
shall not constitute Disqualified Capital Stock solely because it may be required to be repurchased by the issuer thereof in order to
satisfy applicable statutory or regulatory obligations and (B) no Capital Stock held by any future, present or former employee, director,
officer, manager, member of management or consultant (or their respective Affiliates or Immediate Family Members) of the Borrower (or
any Parent Company or any subsidiary) shall be considered Disqualified Capital Stock because such stock is redeemable or subject to repurchase
pursuant to any management equity subscription agreement, stock option, stock appreciation right or other stock award agreement, stock
ownership plan, put agreement, stockholder agreement or similar agreement that may be in effect from time to time.

 

“Disqualified Institution”
means:

 

(a)            (i) any
Person identified in writing to the Administrative Agent on or prior to the Closing Date, (ii) any Person that is identified in writing
to the Administrative Agent after the Closing Date (provided, that any Person so identified after the Closing Date must be reasonably
acceptable to the Administrative Agent), (iii) any Affiliate of any Person described in clauses (i) or (ii) above
that is reasonably identifiable on the basis of such Person’s name as an Affiliate of such Person, and (iv) any other Affiliate
of any Person described in clauses (i), (ii) or (iii) above that is identified in a written notice to the
Administrative Agent) (each such person, a “Disqualified Lending Institution”);

 

(b)            (i) any
Person that is or becomes a Company Competitor and/or any Affiliate of any Company Competitor (other than a Competitor Debt Fund Affiliate,
in each case, that is identified in writing to the Administrative Agent, (ii) any Affiliate of any Person described in clause
(i) above (other than any Competitor Debt Fund Affiliate) that is reasonably identifiable on the basis of such Person’s
name as an Affiliate of such Person and (iii) any other Affiliate of any Person described in clauses (i) or (ii) above
that is identified in a written notice to the Administrative Agent; it being understood and agreed that no Competitor Debt Fund Affiliate
of any Company Competitor may be designated as a Disqualified Institution pursuant to this clause (iii); and

 

(c)            any
Affiliate or Representative of any Initial Lender as of the Closing Date that is engaged as a principal primarily in private equity, mezzanine
financing or venture capital (any Person described in this clause (c), an “Excluded Party”);

 

    24

     

    

 

provided that no written
notice delivered pursuant to clauses (a)(ii), (a)(iv), (b)(i) and/or (b)(iii) above shall apply
retroactively to disqualify any person that has previously acquired an assignment or participation interest in the Loans under the Term
Facility prior to the delivery of such notice.

 

The Borrower shall be permitted
to remove any Person from the list of Disqualified Institutions; provided, that at any time after the removal of such Person, the
Borrower shall be permitted to redesignate such Person as a Disqualified Institution without the consent of the Administrative Agent or
any other Person.

 

“Disqualified Lending
Institution” has the meaning assigned to such term in the definition of “Disqualified Institution”.

 

“Disqualified Person”
has the meaning assigned to such term in Section 9.05(f)(ii).

 

“Dollars”
or “$” refers to lawful money of the US.

 

“Domestic Subsidiary”
means any subsidiary of the Borrower incorporated or organized under the laws of the US, any state thereof or the District of Columbia.

 

“Dutch Auction”
has the meaning assigned to such term on Schedule 1.01(b).

 

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

 

		(1)	a determination by the Administrative Agent and the Borrower that at least
twenty currently outstanding Dollar- denominated syndicated credit facilities for companies owned by top-tier sponsors (as determined
by the Borrower in good faith) at such time contain (as a result of amendment or as originally executed) as a benchmark interest rate,
in lieu of the Published LIBO Rate, a new benchmark interest rate to replace the Published LIBO Rate, and

 

		(2)	the election by the Administrative Agent to declare that an Early Opt-in
Election has occurred and the provision by the Administrative Agent of written notice of such election to the Borrower.

 

“EEA Financial Institution”
means (a) any credit institution or investment firm established in any EEA Member Country (or, to the extent that the United Kingdom
is not an EEA Member Country, the United Kingdom), which is subject to the supervision of a Resolution Authority, (b) any entity
established in an EEA Member Country (or, to the extent that the United Kingdom is not an EEA Member Country, the United Kingdom), which
is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established
in an EEA Member Country (or, to the extent that the United Kingdom is not an EEA Member Country, the United Kingdom), which is a subsidiary
of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision
with its parent.

 

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

 

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

 

“Effective Yield”
means, as to any Indebtedness, the effective yield applicable thereto calculated by the Borrower in good faith in consultation with the
Administrative Agent in a manner consistent with generally accepted financial practices, taking into account (a) interest rate margins,
(b) interest rate floors (subject to the proviso set forth below), (c) any amendment to the relevant interest rate margins and
interest rate floors prior to the applicable date of determination and (d) original issue discount and upfront or similar fees (based
on an assumed four-year average life to maturity or lesser remaining average life to maturity), but excluding (i) any arrangement,
commitment, structuring, underwriting, ticking, unused line and/or amendment fee (regardless of whether any such fee is paid to or shared
in whole or in part with any lender) and (ii) any other fee that is not paid directly by the issuer of such Indebtedness generally
to all relevant lenders ratably; provided, however, that (A) to the extent that the Published LIBO Rate (with an Interest
Period of three months) or Alternate Base Rate (without giving effect to any floor specified in the definition thereof) is less than any
floor applicable to the Indebtedness in respect of which the Effective Yield is being calculated on the date on which the Effective Yield
is determined, the amount of the resulting difference will be deemed added to the interest rate margin applicable to the relevant Indebtedness
for purposes of calculating the Effective Yield and (B) to the extent that the Published LIBO Rate (for a period of three months)
or Alternate Base Rate (without giving effect to any floor specified in the definition thereof) is greater than any applicable floor on
the date on which the Effective Yield is determined, the floor will be disregarded in calculating the Effective Yield.

 

    25

     

    

 

“Electronic Signature”
means any electronic symbol or process attached to, or associated with, any contract or other record and adopted by a person with the
intent to sign, authenticate or accept such contract or record.

 

“Eligible Assignee”
means (a) any Lender, (b) any commercial bank, insurance company, or finance company, financial institution, any fund that invests
in loans or any other “accredited investor” (as defined in Regulation D of the Securities Act), (c) any Affiliate of
any Lender, (d) any Approved Fund of any Lender and (e) to the extent permitted under Section 9.05(g), any Affiliated
Lender or any Debt Fund Affiliate; provided, that in any event, “Eligible Assignee” shall not include (i) any
natural person, (ii) any Disqualified Institution or (iii) except as permitted under Section 9.05(g), the Borrower
or any of its Affiliates.

 

“EMU Legislation”
means the legislative measures of the European Council for the introduction of, changeover to or operation of a single or unified European
currency.

 

“Environment”
means ambient air, indoor air, surface water, groundwater, drinking water, land surface and subsurface strata & natural resources
such as wetlands, flora and fauna.

 

“Environmental Claim”
means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order or other order or directive
(conditional or otherwise), by any Governmental Authority or any other Person, arising (a) pursuant to or in connection with any
actual or alleged violation of any Environmental Law; (b) in connection with any Hazardous Material or any actual or alleged Hazardous
Materials Activity; or (c) in connection with any actual or alleged damage, injury, threat or harm to the Environment.

 

“Environmental Laws”
means any and all current or future applicable foreign or domestic, federal or state (or any subdivision of either of them), statutes,
ordinances, orders, rules, regulations, judgments, Governmental Authorizations, or any other applicable requirements of Governmental Authorities
and the common law relating to (a) environmental matters, including those relating to any Hazardous Materials Activity; or (b) the
generation, use, storage, transportation or disposal of or exposure to Hazardous Materials, in any manner applicable to Holdings, the
Borrower or any of its Restricted Subsidiaries or any Facility.

 

“Environmental Liability”
means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties
or indemnities), directly or indirectly resulting from or based upon (a) any actual or alleged violation of any Environmental Law,
(b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to
any Hazardous Materials, (d) the Release or threatened Release of any Hazardous Materials into the Environment or (e) any contract,
agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

 

    26

     

    

 

“Equipment Sale
and Leaseback Transaction” means any equipment financing or similar arrangement that is not prohibited by Sections 6.01
and/or 6.02 and entered into by the Borrower and/or any Restricted Subsidiary in the ordinary course of business with any
Person that requires the Borrower and/or any Restricted Subsidiary to purchase the equipment subject to such financing or similar arrangement,
sell such equipment to the relevant financing provider and thereafter rent or lease such equipment from the relevant financing provider.

 

“ERISA” means the
Employee Retirement Income Security Act of 1974.

 

“ERISA Affiliate”
means any trade or business (whether or not incorporated) that is under common control with Holdings, the Borrower or any Restricted Subsidiary
and is treated as a single employer within the meaning of Section 414 of the Code or Section 4001 of ERISA.

 

“ERISA Event”
means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by Holdings, the Borrower or any Restricted Subsidiary
or any ERISA Affiliate from a Pension 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 at any facility of Holdings, the Borrower or any Restricted
Subsidiary or any ERISA Affiliate as described in Section 4062(e) of ERISA, in each case, resulting in liability pursuant to
Section 4063 of ERISA; (c) a complete or partial withdrawal by Holdings, the Borrower or any Restricted Subsidiary or any ERISA
Affiliate from a Multiemployer Plan resulting in the imposition of Withdrawal Liability on Holdings, the Borrower or any Restricted Subsidiary
or any ERISA Affiliate, notification of Holdings, the Borrower or any Restricted Subsidiary or any ERISA Affiliate concerning the imposition
of Withdrawal Liability or notification that a Multiemployer Plan is “insolvent” within the meaning of Section 4245 of
ERISA; (d) the filing of a notice of intent to terminate a Pension Plan under Section 4041(c) of ERISA, the treatment of
a Pension Plan amendment as a termination under Section 4041(c) of ERISA, the commencement of proceedings by the PBGC to terminate
a Pension Plan or the receipt by Holdings, the Borrower or any Restricted Subsidiary or any ERISA Affiliate of notice of the treatment
of a Multiemployer Plan amendment as a termination under Section 4041A of ERISA or of notice of the commencement of proceedings by
the PBGC to terminate a Multiemployer Plan; (e) the occurrence of an event or condition which constitutes grounds under Section 4042
of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; (f) the imposition
of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon Holdings,
the Borrower or any Restricted Subsidiary or any ERISA Affiliate, with respect to the termination of any Pension Plan; or (g) the
conditions for imposition of a Lien under Section 303(k) of ERISA have been met with respect to any Pension Plan.

 

“Erroneous Payment”
has the meaning assigned to such term in Section 8.14(a).

 

“Erroneous Payment
Return Deficiency” has the meaning assigned to such term in Section 8.14(c).

 

“Escrow”
has the meaning set forth in the definition of “Indebtedness”.

 

“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”
has the meaning assigned to such term in Article 7.

 

“Exchange Act”
means the Securities Exchange Act of 1934 and the rules and regulations of the SEC promulgated thereunder.

 

    27

     

    

 

“Excluded Assets”
means each of the following:

 

(a)           any
asset the grant or perfection of a security interest in which would (i) be prohibited by enforceable anti-assignment provisions set
forth in any contract that is permitted or otherwise not prohibited by the terms of this Agreement and is binding on such asset at the
time of its acquisition and not incurred in contemplation thereof (other than assets subject to Capital Leases and purchase money financings),
(ii) violate (after giving effect to applicable anti-assignment provisions of the UCC or other applicable Requirements of Law) the
terms of any contract relating to such asset that is permitted or otherwise not prohibited by the terms of this Agreement and is binding
on such asset at the time of its acquisition and not incurred in contemplation thereof (other than in the case of Capital Leases and purchase
money financings), or (iii) trigger termination of any contract relating to such asset that is permitted or otherwise not prohibited
by the terms of this Agreement pursuant to any “change of control” or similar provision (to the extent such contract is binding
on such asset at the time of its acquisition and not incurred in contemplation thereof); it being understood that the term “Excluded
Asset” shall not include proceeds or receivables arising out of any contract described in this clause (a) to the extent
that the assignment of such proceeds or receivables is expressly deemed to be effective under the UCC or other applicable Requirements
of Law notwithstanding the relevant prohibition, violation or termination right;

  

(b)            the
Capital Stock of any (i) Captive Insurance Subsidiary, (ii) Unrestricted Subsidiary, (iii) not-for-profit subsidiary, (iv) Immaterial
Subsidiary (other than an Immaterial Subsidiary that is a Loan Party) and/or (v) Receivables Subsidiary;

 

(c)            any
intent-to-use (or similar) Trademark application prior to the filing and acceptance by the U.S. Patent and Trademark Office (or similar
Governmental Authority) of a “Statement of Use”, “Declaration of Use”, “Amendment to Allege Use” or
similar filing with respect thereto, only to the extent, if any, that, and solely during the period if any, in which, the grant of a security
interest therein may impair the validity or enforceability of such intent-to-use (or similar) Trademark application under applicable Requirements
of Law;

 

(d)           any
asset (including Capital Stock), the grant or perfection of a security interest in which would (i) be prohibited under applicable
Requirements of Law (including, without limitation, any rule and/or regulation of any Governmental Authority) (after giving effect
to applicable anti-assignment provisions of the UCC or other applicable Requirements of Law), (ii) require any governmental or regulatory
consent, approval, license or authorization, in each case, to the extent such consent, approval, license or authorization has not been
obtained (it being understood and agreed that no Loan Party shall have any obligation to procure any such consent, approval, license or
authorization) (after giving effect to applicable anti-assignment provisions of the UCC or other applicable Requirements of Law); it being
understood that the term “Excluded Asset” shall not include proceeds or receivables arising out of any asset described in
clauses (d)(i) or (d)(ii) to the extent that the assignment of such proceeds or receivables is effective under
the UCC or other applicable Requirements of Law notwithstanding the relevant requirement or prohibition or (iii) be reasonably likely
to result in material adverse tax consequences (including as a result of the application of Section 956 of the Code or any similar
Requirement of Law) to Holdings, the Borrower and any of their subsidiaries as determined by the Borrower in good faith;

 

(e)          (i) any
leasehold Real Estate Asset, (ii) except to the extent a security interest therein can be perfected by the filing of a UCC-1 financing
statement, any other leasehold interest, and (iii) any owned Real Estate Asset that (A) is not a Material Real Estate Asset
or (B) is or becomes located in a Special Flood Hazard Area;

 

(f)         the
Capital Stock of (i) any Person that is not the Borrower or a Wholly-Owned Subsidiary of the Borrower and/or (ii) any subsidiary
of any non-Wholly Owned Subsidiary of the Borrower;

 

(g)            any
Margin Stock;

 

(h)        the
Capital Stock of (i) any Foreign Subsidiary and (ii) any FSHCO, in each case, (A) in excess of 65% of the issued and outstanding
voting Capital Stock and 100% of the issued and outstanding non-voting Capital Stock of any such Foreign Subsidiary and/or FSHCO or (B) to
the extent such Foreign Subsidiary or FSHCO is not a first-tier Subsidiary of any Loan Party;

 

    28

     

    

 

(i)            any
Commercial Tort Claim;

 

(j)            any
Deposit Account, securities account and/or similar account (including any securities entitlement), escrow, fiduciary and/or trust account,
payroll and other employee wage and benefit accounts, tax accounts (including, sales tax accounts), any cash collateral account, any Cash
and Cash Equivalents and any funds and other property held or maintained in any such accounts (other than, in each case, proceeds of other
Collateral as to which perfection may be accomplished by filing a UCC-1 financing statement or automatically in accordance with the UCC);

 

(k)          assets
subject to any purchase money security interest, Capital Lease obligation, sale-leaseback obligation or similar arrangement, in each case,
that is permitted or otherwise not prohibited by the terms of this Agreement and to the extent the grant of a security interest therein
would violate or invalidate such lease, license or agreement or purchase money or similar arrangement or create a right of termination
in favor of any other party thereto (other than Holdings or any subsidiary of Holdings); it being understood that the term “Excluded
Asset” shall not include proceeds or receivables arising out of any asset described in this clause (k) to the extent
that the assignment of such proceeds or receivables is expressly deemed to be effective under the UCC or other applicable Requirements
of Law notwithstanding the relevant violation or invalidation;

 

(l)           any
Letter-of-Credit Right that does not constitute a supporting obligation, except to the extent the security interest therein may be perfected
by filing of a financing statement under the UCC of any applicable jurisdiction;

 

(m)          motor
vehicles and other assets subject to certificates of title, except to the extent the security interest therein may be perfected by filing
of a financing statement under the UCC of any applicable jurisdiction;

 

(n)        any
asset of a Person acquired by Holdings, the Borrower or any other Restricted Subsidiary that, at the time of the relevant acquisition,
is encumbered to secure assumed Indebtedness permitted by this Agreement to the extent (and for so long as) the documentation governing
the applicable assumed Indebtedness prohibits such asset from being pledged to secure the Secured Obligations and the relevant prohibition
was not implemented in contemplation of the applicable acquisition;

 

(o)          any
asset with respect to which the Borrower has in good faith determined that the cost, burden, difficulty or consequence (including (i) any
effect on the ability of the relevant Loan Party to conduct its operations and business in the ordinary course of business and (ii) the
cost of mortgage, stamp, intangible or other taxes or expenses) of obtaining or perfecting a security interest therein outweighs, or is
excessive in light of, the practical benefit of a security interest to the relevant Secured Parties afforded thereby (and the Lenders
acknowledge that the Collateral that may be provided by any Loan Party may be limited to minimize stamp duty, notarization, registration
or other applicable fees, taxes and duties where the benefit to the Secured Parties of increasing the secured amount is disproportionate
to the level of such fees, taxes and duties);

 

(p)         any
governmental license or state or local franchise, charter or authorization, to the extent a security interest in any such license, franchise,
charter or authorization would be prohibited or restricted thereby, after giving effect to the anti-assignment provisions of the UCC of
any applicable jurisdiction, other than any proceeds or receivable thereof to the extent the assignment of the same is effective under
the UCC of any applicable jurisdiction notwithstanding such consent or restriction;

 

    29

     

    

 

(q)            any
asset subject to any Receivables Facility; and

 

(r)           aircraft,
airframes, aircraft engines, helicopters and equipment and/or other assets that are affixed to, or otherwise constitute, such aircraft,
airframes, aircraft engines and/or helicopters.

 

“Excluded Party”
has the meaning assigned to such term in the definition of “Disqualified Institution”.

 

“Excluded Subsidiary”
means:

 

(a)           any
(i) Restricted Subsidiary that is not a Wholly-Owned Subsidiary of the Borrower and (ii) any subsidiary of a Person described
in the foregoing clause (i);

 

(b)            any
Immaterial Subsidiary;

 

(c)          any
Restricted Subsidiary that (i) is prohibited or restricted from providing a Loan Guaranty by (A) any Requirement of Law or (B) any
Contractual Obligation that exists on the Closing Date or at the time such Restricted Subsidiary becomes a subsidiary (which Contractual
Obligation was not entered into in contemplation of the acquisition of such Restricted Subsidiary (including pursuant to assumed Indebtedness)),
(ii) would require a governmental (including regulatory) or third party consent, approval, license or authorization (including any
regulatory consent, approval, license or authorization) to provide a Loan Guaranty (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 obtained (it being understood and agreed that none of Holdings, the Borrower and/or any of their respective
subsidiaries shall have any obligation to obtain (or seek to obtain) any such consent, approval, license or authorization) or (iii) with
respect to which the provision of a Loan Guaranty would reasonably be expected to result in material and adverse tax consequences to Holdings,
the Borrower and/or any of their subsidiaries, as determined by the Borrower in good faith and in consultation with the Administrative
Agent;

 

(d)            any
not-for-profit subsidiary;

 

(e)            any
Captive Insurance Subsidiary;

 

(f)            any
Receivables Subsidiary;

 

(g)           any
Foreign Subsidiary;

 

(h)           any
Domestic Subsidiary that (i) is a FSHCO or (ii) is a direct or indirect subsidiary of any Foreign Subsidiary or FSHCO;

 

(i)            any
Unrestricted Subsidiary;

 

(j)           (i) any
Restricted Subsidiary acquired by the Borrower or any Restricted Subsidiary that, at the time of the relevant acquisition, is an obligor
in respect of assumed Indebtedness permitted by Section 6.01 to the extent (and for so long as) the documentation governing
the applicable assumed Indebtedness prohibits such subsidiary from providing a Loan Guaranty (which prohibition was not implemented in
contemplation of such Restricted Subsidiary becoming a subsidiary in order to avoid the requirement of providing a Loan Guaranty) and
(ii) any subsidiary of any Restricted Subsidiary described in the immediately preceding clause (i) that is subject to
any prohibition described in such clause (i);

 

(k)        any
other Restricted Subsidiary with respect to which, in the good faith determination of the Borrower, the burden or cost of providing a
Loan Guaranty outweighs, or would be excessive in light of, the practical benefits afforded thereby as determined by the Borrower in good
faith in consultation with the Administrative Agent;

 

    30

     

    

 

(l)         solely
in the case of any Swap Obligation that constitutes a “swap” within the meaning of section 1(a)(47) of the Commodity Exchange
Act (which for the avoidance of doubt shall be determined after giving effect to any “keepwell, support or other agreement”
(as such terms are used under the Commodity Exchange Act)), any Domestic Subsidiary that is not an “eligible contract participant”
as defined under the Commodity Exchange Act and the regulations thereunder;

 

(m)        any
subsidiary where the provision by such subsidiary of a Loan Guaranty could reasonably be expected to conflict with the fiduciary duties
of such subsidiary’s directors or result in, or could reasonably be expected to result in, a material risk of personal or criminal
liability for such subsidiary or any of its officers or directors or to the extent it is not within the legal capacity of such subsidiary
to provide a Loan Guaranty (whether as a result of financial assistance, corporate benefit, thin capitalization, capital maintenance,
liquidity maintenance or similar rules or otherwise); and

 

(n)            any
broker-dealer subsidiary.

 

“Excluded Swap Obligation”
means, with respect to any Loan Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the Loan Guaranty of such
Loan Guarantor of, or the grant by such Loan Guarantor of a security interest to secure, such Swap Obligation (or any Loan 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, or any Governmental Authority succeeding to any or all of its functions) (a) by
virtue of such Loan Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in
the Commodity Exchange Act and the regulations thereunder (determined after giving effect to Section 3.20 of the Loan Guaranty
and any other “keepwell”, support or other agreement for the benefit of such Loan Guarantor) at the time the Loan Guaranty
of such Loan Guarantor or the grant of such security interest becomes effective with respect to such Swap Obligation or (b) in the
case of any Swap Obligation that is subject to a clearing requirement pursuant to section 2(h) of the Commodity Exchange Act, because
such Loan Guarantor is a “financial entity,” as defined in section 2(h)(7)(C) of the Commodity Exchange Act, at the time
the guarantee provided by (or grant of such security interest by, as applicable) such Loan Guarantor becomes or would become effective
with respect to such Swap Obligation. If any 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 Loan Guaranty or security interest
is or becomes illegal.

 

“Excluded Taxes”
means, with respect to the Administrative Agent or any Lender or any other recipient of any payment to be made by or on account of any
obligation of any Loan Party under any Loan Document, (a) any Taxes imposed on (or measured by) such recipient’s net income
(however denominated) or franchise Taxes, (i) imposed as a result of such recipient being organized or having its principal office
located in or, in the case of any Lender, having its applicable lending office located in, the taxing jurisdiction or (ii) that are
Other Connection Taxes, (b) any branch profits Taxes imposed under Section 884(a) of the Code, or any similar Tax, imposed
by any jurisdiction described in clause (a), (c) any US federal withholding Tax that is imposed on amounts payable to or for
the account of such Lender (other than a Lender that became a Lender pursuant to an assignment under Section 2.19) with respect
to an applicable interest in a Loan or Commitment pursuant to a Requirement of Law in effect on the date on which such Lender (i) acquires
such interest in the applicable Commitment or, if such Lender did not fund the applicable Loan pursuant to a prior Commitment, on the
date such Lender acquires its interest in such Loan or (ii) designates a new lending office, except in each case to the extent that,
pursuant to Section 2.17, amounts with respect to such Tax were payable either to such Lender’s assignor immediately
before such Lender acquired the applicable interest in a Loan or Commitment or to such Lender immediately before it designated a new lending
office, (d) any Tax imposed as a result of a failure by such recipient to comply with Section 2.17(f) or (j),
and (e) any Tax imposed under FATCA.

 

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“Existing Credit
Agreement” has the meaning assigned to such term in the recitals to this Agreement.

 

“Extended Loans”
has the meaning assigned to such term in Section 2.23(a).

 

“Extension”
has the meaning assigned to such term in Section 2.23(a).

 

“Extension Amendment”
means an amendment to this Agreement that is reasonably satisfactory to the Administrative Agent (to the extent required by Section 2.23)
and the Borrower executed by each of (a) Holdings, the Borrower and the Subsidiary Guarantors, (b) the Administrative Agent
and (c) each Lender that has accepted the applicable Extension Offer pursuant hereto and in accordance with Section 2.23.

 

“Extension Offer”
has the meaning assigned to such term in Section 2.23(a).

 

“Facility”
means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or, except with respect
to Articles 5 and 6, previously owned, leased, operated or used by Holdings, the Borrower or any of its Restricted
Subsidiaries or any of their respective predecessors or Affiliates.

 

“FATCA”
means 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 materially more onerous to comply with), any current or future regulations or official interpretations
thereof, 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.

 

“FCA” has
the meaning assigned to such term in Section 1.13(a).

 

“FCPA”
has the meaning assigned to such term in Section 3.17(c).

 

“Federal Funds Effective
Rate” means, for any day, the rate calculated by the Federal Reserve Bank of New York based on such day’s federal funds
transactions by depository institutions (as determined in such manner as the Federal Reserve Bank of New York shall set forth on its public
website from time to time) and published on the next succeeding Business Day by the Federal Reserve Bank of New York as the federal funds
effective rate; provided, that if the Federal Funds Effective Rate for any day is less than zero, the Federal Funds Effective Rate
for such day will be deemed to be zero.

 

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

 

“Fee Letters”
means the OR Fee Letter, the Carlyle Fee Letter, the Fortress Fee Letter and the NB Fee Letter.

 

“Financial Model”
means the final model made available by the Sponsor to the Administrative Agent prior to the Closing Date.

 

“First Lien Credit
Agreement” means the First Lien Credit Agreement, dated as of the Closing Date, among, inter alios, the Borrower, Credit
Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent and the lenders from time to time party thereto.

 

“First Lien Collateral
Agent” has the meaning assigned to “First Lien Credit Agreement Collateral Agent” in the Initial Intercreditor Agreement.

 

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“First Lien Debt”
means (a) the Initial Term Loans and the Initial Revolving Loans (in each case, as defined in the First Lien Credit Agreement) and
(b) any other Indebtedness (other than any such Indebtedness among Holdings, the Borrower and/or their respective subsidiaries) that
constitutes a First Lien Obligation. Any Indebtedness that is senior in terms of Lien priority to the Obligations pursuant to any Intercreditor
Agreement shall be deemed to constitute First Lien Debt.

 

“First Lien Facility”
means the credit facility governed by the First Lien Credit Agreement and one or more debt facilities or other financing arrangements
(including indentures) providing for loans or other long-term indebtedness that replace or refinance all or a portion of such debt facility
or other financing arrangement, including any such replacement or refinancing facility or indenture that increases or decreases the amount
permitted to be borrowed thereunder or alters the maturity thereof, and whether by the same or any other agent, lender or group of lenders,
and any amendment, supplement, modification, extension, renewal, restatement, amendment and restatement or refunding thereof or any such
debt facility or other financing arrangement that replaces or refinances such debt facility or other financing arrangement (or any subsequent
replacement and/or refinancing thereof), in each case to the extent permitted or not restricted by this Agreement.

 

“First Lien Incremental
Debt” means any “Incremental Loan” and/or “Incremental Equivalent Debt”, each as defined in the First
Lien Credit Agreement (or any equivalent term under any First Lien Facility).

 

“First Lien Net Leverage
Ratio” means the ratio, as of any date of determination, of (a) Consolidated First Lien Debt as of the last day of the
most recently ended Test Period to (b) Consolidated Adjusted EBITDA for the most recently ended Test Period, in each case, of the
Borrower and its Restricted Subsidiaries on a consolidated basis.

 

“First Lien Obligations”
has the meaning set forth in the Initial Intercreditor Agreement. Any obligations that are senior in terms of Lien priority to the Obligations
pursuant to any Intercreditor Agreement shall be deemed to constitute First Lien Obligations.

 

“First Lien Obligations
Payment Date” means date of the occurrence of the Discharge of First Lien Obligations (as defined in the Initial Intercreditor
Agreement).

 

“Fitch”
means Fitch Ratings, Inc.

 

“Fiscal Month”
means a fiscal month of any Fiscal Year.

 

“Fiscal Quarter”
means a fiscal quarter of any Fiscal Year.

 

“Fiscal Year”
means each fiscal year of the Borrower, ending on the date indicated in the table below for such Fiscal Year:

 

	Fiscal Year	End Date
	2021	December 25, 2021
	2022	December 31, 2022
	2023	December 30, 2023
	2024	December 28, 2024
	2025	December 27, 2025
	2026	December 26, 2026
	2027	December 25, 2027
	2028	December 30, 2028 

 

“Fixed Amount”
has the meaning assigned to such term in Section 1.12(c).

 

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“Flood Certificate”
means a “Life-of-Loan” “Standard Flood Hazard Determination Form” of the Federal Emergency Management Agency and
any successor Governmental Authority performing a similar function.

 

“Foreign Lender”
means any Lender that is not a US Person.

 

“Foreign Subsidiary”
means any existing or future subsidiary of the Borrower that is not a Domestic Subsidiary.

 

“Fortress Fee Letter”
means the Facility Fee Letter, dated as of the Closing Date, among the Borrower and Fortress Credit Corp.

 

“FSHCO”
means (a) any direct or indirect Domestic Subsidiary that has no material assets other than the Capital Stock and/or Indebtedness
of one or more Foreign Subsidiaries and (b) any direct or indirect Domestic Subsidiary that has no material assets other than the
Capital Stock and/or Indebtedness of one or more Persons of the type described in the immediately preceding clause (a).

 

“GAAP”
means generally accepted accounting principles in the US in effect and applicable to the accounting period in respect of which reference
to GAAP is made.

 

“Governmental Authority”
means any federal, state, municipal, national or other government, governmental department, commission, board, bureau, court, agency or
instrumentality or political subdivision thereof or any entity or officer exercising executive, legislative, judicial, taxing, regulatory
or administrative functions of or pertaining to any government or any court, in each case whether associated with the US, a foreign government
or any political subdivision thereof, including any applicable supranational body (such as the European Union or the European Central
Bank).

 

“Governmental Authorization”
means any permit, license, authorization, approval, plan, directive, consent order or consent decree of or from any Governmental Authority.

 

“Granting Lender”
has the meaning assigned to such term in Section 9.05(e).

 

“Guarantee”
of or by any Person (the “Guarantor”) means any obligation, contingent or otherwise, of the Guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other monetary obligation of any other Person (the “Primary
Obligor”) in any manner and including any obligation of the Guarantor (a) to purchase or pay (or advance or supply funds
for the purchase or payment of) such Indebtedness or other monetary obligation or to purchase (or to advance or supply funds for the purchase
of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the
owner of such Indebtedness or other monetary obligation of the payment thereof, (c) to maintain working capital, equity capital or
any other financial statement condition or liquidity of the Primary Obligor so as to enable the Primary Obligor to pay such Indebtedness
or other monetary obligation, (d) as an account party in respect of any letter of credit or letter of guaranty issued to support
such Indebtedness or monetary obligation, (e) entered into for the purpose of assuring in any other manner the obligee in respect
of such Indebtedness or other monetary obligation of the payment or performance thereof or to protect such obligee against loss in respect
thereof (in whole or in part) or (f) secured by any Lien on any assets of such Guarantor securing any Indebtedness or other monetary
obligation of any other Person, whether or not such Indebtedness or monetary other obligation is assumed by such Guarantor (or any right,
contingent or otherwise, of any holder of such Indebtedness or other monetary obligation to obtain any such Lien); provided that
the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business, or customary
and reasonable indemnity obligations in effect on the Closing Date or entered into in connection with any acquisition, Disposition or
other transaction permitted under this Agreement (other than such obligations with respect to Indebtedness). The amount of any Guarantee
shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect
of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as
determined by the guaranteeing Person in good faith.

 

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“Hazardous Materials”
means any chemical, material, substance or waste, or any constituent thereof, which is prohibited, limited or regulated under any Environmental
Law or by any Governmental Authority or which poses a hazard to the Environment or to human health and safety, including without limitation,
petroleum and petroleum by-products, asbestos and asbestos-containing materials, polychlorinated biphenyls, medical waste and pharmaceutical
waste.

 

“Hazardous Materials
Activity” means any past, current, proposed or threatened activity, event or occurrence involving any Hazardous Material, including
the use, manufacture, possession, storage, holding, presence, existence, location, Release, threatened Release, discharge, placement,
generation, transportation, processing, construction, treatment, abatement, removal, remediation, disposal, disposition or handling of
any Hazardous Material, and any corrective action or response action with respect to any of the foregoing.

 

“Hedge Agreement”
means any agreement with respect to any Derivative Transaction (or any master agreement which is intended to govern multiple Derivative
Transactions) between any Loan Party or any Restricted Subsidiary and any other Person.

 

“Hedging Obligations”
means, with respect to any Person, the obligations of such Person under any Hedge Agreement.

 

“Holdings”
has the meaning assigned to such term in the preamble to this Agreement and shall, for the avoidance of doubt, include any Successor Holdings.

 

“IFRS”
means international accounting standards within the meaning of the IAS Regulation 1606/2002, as in effect from time to time (subject to
the provisions of Section 1.04), to the extent applicable to the relevant financial statements.

 

“Immaterial Subsidiary”
means, as of any date, any subsidiary of the Borrower the contribution to Consolidated Adjusted EBITDA of which, when taken together with
the contribution to Consolidated Adjusted EBITDA of all other subsidiaries that are Immaterial Subsidiaries, does not exceed 5.00% of
Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period; provided that, at all times prior to the
first delivery of financial statements pursuant to Section 5.01(a) or (b), this definition shall be applied based
on the pro forma consolidated financial statements delivered pursuant to Section 4.01.

 

“Immediate Family
Member” means, with respect to any individual, such individual’s child, stepchild, grandchild or more remote descendant,
parent, stepparent, grandparent, spouse, former spouse, domestic partner, former domestic partner, sibling, mother-in-law, father-in-law,
son-in-law and/or daughter-in-law (including any adoptive relationship), any trust, partnership or other bona fide estate-planning vehicle
the only beneficiaries of which are any of the foregoing individuals, such individual’s estate (or an executor or administrator
acting on its behalf), heirs or legatees or any private foundation or fund that is controlled by any of the foregoing individuals or any
donor-advised fund of which any such individual is the donor.

 

“Incremental Cap”
means:

 

    35

     

    

 

(a)            the
sum of:

 

(i)             the
Shared Incremental Amount, minus (A) the aggregate outstanding principal amount of any Incremental Facility and/or Incremental
Equivalent Debt previously incurred or issued in reliance on the Shared Incremental Amount minus (B) the aggregate outstanding
principal amount of “Incremental Loans” and “Incremental Equivalent Debt” (each as defined in the First Lien
Credit Agreement or any equivalent term under the documentation governing any First Lien Facility) incurred or issued in reliance on
the Shared Incremental Amount, in each case after giving effect to any reclassification of such Incremental Facility, Incremental
Equivalent Debt, “Incremental Loans” or “Incremental Equivalent Debt”, as applicable, as having been incurred
in reliance on clause (e) of the definition of “Incremental Cap” hereunder or clause (e) of the definition
of “Incremental Cap” (as defined in the First Lien Credit Agreement or any equivalent term under the documentation governing
any First Lien Facility); it being understood and agreed that, unless the Borrower otherwise notifies the Administrative Agent, if all
or any portion of any “Incremental Loan” or “Incremental Equivalent Debt” (as defined in the First Lien Credit
Agreement or any equivalent term under any documentation governing any First Lien Facility) would be permitted under any “incurrence-based”
capacity under the documentation governing the First Lien Facility on the applicable date of determination, such Indebtedness shall be
deemed to have been incurred in reliance on such “incurrence-based” capacity prior to the utilization of all or any portion
of the Shared Incremental Amount, minus (C) the aggregate outstanding principal amount of any Ratio Debt issued and/or incurred
in reliance on the Shared Incremental Amount pursuant to Section 6.01(w)(i), in the case of clauses (A) and (C),
after giving effect to (1) any reclassification of any Incremental Facility and/or Incremental Equivalent Debt as having been issued
or incurred in reliance on the Incremental Incurrence-Based Component and/or (2) any reclassification of any Ratio Debt as having
been incurred in reliance on Section 6.01(w)(iii); plus

 

(ii)            [reserved];
plus

 

(b)           in
the case of any Incremental Facility or Incremental Equivalent Debt that effectively extends (i) the Maturity Date with respect
to any Class of Loans and/or Commitments hereunder and/or (ii) the maturity date with respect to (A) any First Lien Debt,
(B) any Second Lien Debt and/or (C) any Junior Lien Debt (it being understood that, in the case of this clause (B),
the relevant Incremental Facility or Incremental Equivalent Debt incurred in reliance hereon will, at the option of the Borrower, either
constitute Second Lien Debt, Junior Lien Debt or be unsecured), an amount equal to the portion of the relevant Class of Loans or
Commitments or such other First Lien Debt, Second Lien Debt or such Junior Lien Debt, as applicable, that will be replaced by such Incremental
Facility or Incremental Equivalent Debt; plus

 

(c)            [reserved];
plus

 

(d)           without
duplication of clause (b) above, (x) (i) the amount of any voluntary prepayment, redemption, repurchase or other
retirement of (A)(1) any First Lien Debt and/or (2) any Second Lien Debt and/or (B) the amount of any permanent reduction
of (1) any revolving commitment in respect of any First Lien Debt and/or (2) any revolving commitment in respect of any Second
Lien Debt and (ii) the amount of any reduction in the outstanding principal amount of (A) any First Lien Debt and/or Second
Lien Debt to (and/or any purchase of such First Lien Debt and/or Second Lien Debt by) the Borrower and/or any subsidiary; provided
that, in the case of each of clauses (x)(i) and (ii), the relevant prepayment, redemption, purchase, assignment, redemption
or other retirement was not funded with the proceeds of any long-term Indebtedness (other than revolving Indebtedness) (this clause
(d), the “Incremental Prepayment Amount”) minus (y) the outstanding principal amount of any Indebtedness incurred
in reliance on Section 6.01(w)(ii); plus

 

(e)           an
unlimited amount so long as, in the case of this clause (e), after giving effect to the relevant Incremental Facility and/or Incremental
Equivalent Debt; as applicable:

 

(i)             if
such Incremental Facility and/or Incremental Equivalent Debt constitutes Second Lien Debt or Junior Lien Debt, the Secured Net Leverage
Ratio does not exceed 6.10:1.00 as of the last day of the most recently ended Test Period; or

 

    36

     

    

 

(ii)            if
such Incremental Facility and/or Incremental Equivalent Debt is unsecured, the Total Net Leverage Ratio does not exceed 6.35:1.00 as of
the last day of the most recently ended Test Period;

 

in each case described in this clause
(e), calculated on a Pro Forma Basis, including the application of the proceeds thereof (in the case of each of clauses (i) and
(ii), without “netting” the cash proceeds of the applicable Incremental Facility or Incremental Equivalent Debt on
the consolidated balance sheet of the Borrower) (this clause (e), the “Incremental Incurrence-Based Component”);

 

provided that any Incremental
Facility and/or Incremental Equivalent Debt may be incurred under one or more of clauses (a) through (e) of this
definition as selected by the Borrower in its sole discretion; provided, that unless the Borrower elects otherwise, any such Incremental
Facility and/or Incremental Equivalent Debt will be deemed to have been incurred (I) first under the Incremental Incurrence-Based
Component, to the maximum extent permitted thereunder and (II) second, under the Incremental Prepayment Amount, to the maximum
extent permitted thereunder.

 

“Incremental Commitment”
means any commitment made by a lender to provide all or any portion of any Incremental Facility or Incremental Loan.

 

“Incremental Equivalent
Debt” means Indebtedness in the form of pari passu senior secured or unsecured notes or loans and/or junior secured or
unsecured notes or loans and/or, in each case commitments in respect of any of the foregoing; provided, that:

 

(a)            the
aggregate outstanding principal amount (or committed amount, if applicable under Section 1.12) thereof shall not exceed the
sum of (i) Incremental Cap (as in effect at the time of determination, including giving effect to any reclassification on or prior
to such date of determination) and (ii) at the election of the Borrower, any additional amount of Indebtedness otherwise permitted
to be incurred under this Agreement (and if such additional Indebtedness that is reallocated to Incremental Equivalent Debt is secured,
the relevant Liens securing such additional Indebtedness are Permitted Liens other than by virtue of such additional Indebtedness being
incurred as Incremental Equivalent Debt);

 

(b)           the
Weighted Average Life to Maturity applicable to such notes or loans (other than Customary Bridge Loans, Customary Term A Loans and/or
revolving Indebtedness) is no shorter than the Weighted Average Life to Maturity of the then existing Loans;

 

(c)            the
final maturity date with respect to such notes or loans (other than Customary Bridge Loans, Customary Term A Loans and/or revolving Indebtedness)
is no earlier than the Latest Maturity Date on the date of the issuance or incurrence, as applicable, thereof;

 

(d)           subject
to clauses (b) and (c), such Indebtedness may otherwise have an amortization schedule as determined by the Borrower
and the lenders providing such Incremental Equivalent Debt;

 

(e)            the
currency, pricing (including any “MFN” or other pricing terms), interest rate margins, rate floors, fees, premiums (including
prepayment premiums), funding discounts and the maturity and amortization schedule applicable to any Incremental Equivalent Debt shall
be determined by the Borrower and the lender or lenders providing such Incremental Equivalent Debt; provided that, with respect
to any Incremental Equivalent Debt that constitutes MFN Indebtedness, the Initial Loans shall benefit from the MFN Provision;

 

(f)            such
Incremental Equivalent Debt will be documented pursuant to separate documentation from the credit agreement governing the Term Facility;

 

    37

     

    

 

(g)           if
such Indebtedness is (i) secured by the Collateral on a pari passu basis with the Secured Obligations that constitute Second
Lien Debt, (ii) secured by the Collateral on a junior basis as compared to the Secured Obligations that constitute Second Lien Debt
or (iii) subordinated to the Obligations in right of payment, then the holders of such Indebtedness shall be party to an Intercreditor
Agreement; and

 

(h)            no
such Indebtedness may be (A) issued or guaranteed by any subsidiary of the Borrower which is not a Loan Party (it being understood
and agreed that the obligations of any Person with respect to any Escrow arrangement into which the proceeds of such Incremental Equivalent
Debt are deposited shall not constitute a guarantee by any subsidiary that is not a Loan Party) or (B) secured by any asset that
does not constitute Collateral; it being understood that any Incremental Equivalent Debt that is funded into Escrow pursuant to customary
(in the good faith determination of the Borrower) escrow arrangements may be secured by the applicable funds and related assets held
in Escrow (and the proceeds thereof) until the date on which such funds are released from Escrow.

 

“Incremental Facility”
has the meaning assigned to such term in Section 2.22(a).

 

“Incremental Facility
Amendment” means an amendment to this Agreement that is reasonably satisfactory to the Administrative Agent (solely for purposes
of giving effect to Section 2.22) and the Borrower executed by each of (a) Holdings and the Borrower, (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 2.22.

 

“Incremental Incurrence-Based
Component” has the meaning assigned to such term in the definition of “Incremental Cap”.

 

“Incremental Lender”
has the meaning assigned to such term in Section 2.22(b).

 

“Incremental Loans”
has the meaning assigned to such term in Section 2.22(a).

 

“Incremental Prepayment
Amount” has the meaning assigned to such term in clause (d) of the definition of “Incremental Cap.”

 

“Incurrence-Based Amount”
has the meaning assigned to such term in Section 1.12(c).

 

“Indebtedness”
as applied to any Person means, without duplication:

 

(a)           all
indebtedness for borrowed money;

 

(b)           that
portion of obligations with respect to Capital Leases to the extent recorded as a liability on a balance sheet (excluding the footnotes
thereto) of such Person prepared in accordance with GAAP;

 

(c)           all
obligations of such Person evidenced by bonds, debentures, notes or similar instruments to the extent the same would appear as a liability
on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP;

 

(d)           any
obligation of such Person owed for all or any part of the deferred purchase price of property or services (excluding (i) any earn
out obligation or purchase price adjustment until such obligation (A) becomes a liability on the statement of financial position
or balance sheet (excluding the footnotes thereto) in accordance with GAAP and (B) has not been paid within 30 days after becoming
due and payable, (ii) any such obligation incurred under ERISA, (iii) accrued expenses and trade accounts payable in the ordinary
course of business (including on an inter-company basis) and (iv) liabilities associated with customer prepayments and deposits),
which purchase price is (A) due more than six months from the date of the incurrence of the obligation in respect thereof or (B) evidenced
by a note or similar written instrument);

 

    38

     

    

 

(e)           any
monetary obligation of any other Person secured by any Lien on any asset owned or held by such Person regardless of whether the Indebtedness
secured thereby has been assumed by such Person or is non-recourse to the credit of such Person;

 

(f)            the
face amount of any letter of credit issued for the account of such Person or as to which such Person is otherwise liable for reimbursement
of drawings;

 

(g)           the
Guarantee by such Person of the Indebtedness of another;

 

(h)           all
obligations of such Person in respect of any Disqualified Capital Stock; and

 

(i)            all
net obligations of such Person in respect of any Derivative Transaction, including any Hedge Agreement, whether or not entered into for
hedging or speculative purposes;

 

provided that (i) in no event shall
any obligation under any Derivative Transaction be deemed to constitute “Indebtedness” for any calculation of the First Lien
Net Leverage Ratio, the Secured Net Leverage Ratio, the Total Net Leverage Ratio or any other financial ratio under this Agreement, (ii) the
amount of Indebtedness of any Person for purposes of clause (e) shall be deemed to be equal to the lesser of (A) the
aggregate unpaid principal amount of such Indebtedness and (B) the fair market value of the property encumbered thereby as determined
by such Person in good faith and (iii) the term “Indebtedness” shall exclude (A) intercompany loans and/or advances
arising from cash management, tax and accounting operations and (B) intercompany loans and/or advances made in the ordinary course
of business that have a term that does not exceed 364 days.

 

For all purposes hereof, the
Indebtedness of any Person shall (i) include the Indebtedness of any third person (including any partnership in which such Person
is a general partner and any unincorporated joint venture in which such Person is a joint venture) to the extent such Person would be
liable therefor under applicable Requirements of Law or any agreement or instrument by virtue of such Person’s ownership interest
in such Person, (A) except to the extent the terms of such Indebtedness provide that such Person is not liable therefor and (B) only
to the extent the relevant Indebtedness is of the type that would be included in the calculation of Consolidated Total Debt; provided,
that notwithstanding anything herein to the contrary, the term “Indebtedness” shall not include, and shall be calculated without
giving effect to, (1) the effects of Accounting Standards Codification Topic 815 and related interpretations to the extent such effects
would otherwise increase or decrease an amount of Indebtedness for any purpose hereunder as a result of accounting for any embedded derivatives
created by the terms of such Indebtedness (it being understood that any such amounts that would have constituted Indebtedness hereunder
but for the application of this proviso shall not be deemed an incurrence of Indebtedness hereunder) and (2) the effects of Statement
of Financial Accounting Standards No. 133 and related interpretations to the extent such effects would otherwise increase or decrease
an amount of Indebtedness for any purpose under this Agreement as a result of accounting for any embedded derivative created by the terms
of such Indebtedness (it being understood that any such amounts that would have constituted Indebtedness under this Agreement but for
the application of this sentence shall not be deemed to be an incurrence of Indebtedness under this Agreement) and (ii) exclude (A) obligations
incurred in connection with the consummation of any transaction solely to the extent the proceeds thereof are and continue to be held
in an escrow, trust, collateral or similar account or arrangement (collectively, an “Escrow”) and are not otherwise
made available to such Person, (B) prepaid or deferred revenue and (C) obligations that constitute “Indebtedness”
solely by virtue of a pledge of an Investment (without an accompanying guaranty) in any Unrestricted Subsidiary.

 

The amount of any Indebtedness
that is issued at a discount to its initial principal amount shall be calculated based on the initial stated principal amount thereof
without giving effect to any such discount.

 

    39

     

    

 

“Indemnified Taxes”
means all Taxes, other than Excluded Taxes or Other 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.

 

“Indemnitee”
has the meaning assigned to such term in Section 9.03(b).

 

“Information”
has the meaning assigned to such term in Section 3.11(a).

 

“Initial Default”
has the meaning assigned to such term in Section 1.15(b)(i).

 

“Initial Commitment”
means, with respect to any Person, the commitment of such Person to make Initial Loans hereunder as set forth on the Commitment Schedule,
as the same may be (a) reduced from time to time pursuant to Section 2.09 or 2.19, (b) reduced or increased
from time to time pursuant to assignments by or to such Lender pursuant to Section 9.05 or (c) increased pursuant to
Section 2.22. The aggregate amount of the Initial Commitments as of the Closing Date is $200,000,000.

 

“Initial Intercreditor
Agreement” means the Junior Lien Intercreditor Agreement, substantially in the form of Exhibit G, dated as of the
Closing Date, among, inter alios, the Junior Lien Credit Agreement Collateral Agent (as defined therein), as agent for the Junior
Lien Claimholders (as defined therein), the Administrative Agent, as agent for the First Lien Claimholders (as defined therein), and the
Loan Parties from time to time party thereto.

 

“Initial Lender”
means any Lender with an Initial Commitment or an outstanding Initial Loan.

 

“Initial Loans”
has the meaning assigned to such term in Section 2.01(a)(i).

 

“Initial Maturity
Date” means the date that is eight years after the Closing Date.

 

“Intellectual Property
Security Agreement” means any agreement, or a supplement thereto, executed on or after the Closing Date confirming or effecting
the grant of any Lien on IP Rights owned by any Loan Party to the Administrative Agent, for the benefit of the Secured Parties, required
in accordance with this Agreement and the Security Agreement, including a Second Lien Intellectual Property Security Agreement substantially
in the form of Exhibit C.

 

“Intercompany Note”
means a promissory note substantially in the form of Exhibit F or such other form to which the Borrower and the Administrative
Agent may reasonably agree.

 

“Intercreditor Agreement”
means:

 

(a)            with
respect to any Indebtedness that constitutes First Lien Debt, (i) if the Indebtedness under the First Lien Credit Agreement is outstanding
on the relevant date of determination, the Initial Intercreditor Agreement or (ii) if Indebtedness under the First Lien Credit Agreement
is not outstanding on the relevant date of determination, an intercreditor agreement substantially in the form of the Initial Intercreditor
Agreement (which may, if applicable, be the Initial Intercreditor Agreement), with any changes thereto (whether material or immaterial)
as the Borrower and the Administrative Agent may agree in their respective reasonable discretion

 

(b)           with
respect to any Indebtedness that constitutes Second Lien Debt, a Pari Passu Intercreditor Agreement; and/or

 

(c)            with
respect to any Indebtedness, any other intercreditor or subordination agreement or arrangement (which may take the form of a “waterfall”
or similar provision), as applicable, the terms of which are (i) consistent with market terms (as determined by the Borrower and
the Administrative Agent in good faith) governing arrangements for the sharing and/or subordination of liens and/or arrangements relating
to the distribution of payments, as applicable, at the time the relevant intercreditor agreement is proposed to be established in light
of the type of Indebtedness subject thereto and/or (ii) reasonably acceptable to the Borrower and the Administrative Agent.

 

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“Interest Election
Request” means a written request by the Borrower in the form of Exhibit H or another form reasonably acceptable
to the Administrative Agent to convert or continue a Borrowing in accordance with Section 2.08.

 

“Interest Payment
Date” means (a) with respect to any ABR Loan, each Scheduled Payment Date and the maturity date applicable to such ABR
Loan and (b) with respect to any LIBO Rate Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan
is a part and, in the case of a LIBO Rate Loan with an Interest Period of more than three months’ duration, each day that would
have been an Interest Payment Date had successive Interest Periods of three months’ duration been applicable to such Borrowing.

 

“Interest Period”
means with respect to any LIBO Rate Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding
day in the calendar month that is one, three or six months (or, to the extent available to all relevant affected Lenders, 12 months or
any period shorter than 12 months) thereafter, as the Borrower may elect; provided that (a) 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 and
(b) 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. 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. Notwithstanding the foregoing (but subject
to the proviso in the first sentence of this definition), the Interest Period for any Borrowing made on the Closing Date and prior to
July 31, 2021 (which Interest Period shall commence on the date of such Borrowing), in each case, may, at the option of the Borrower,
end on July 31, 2021.

 

“Interpolated Rate”
means, in relation to any LIBO Rate Loan, the rate per annum 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: (a) the applicable
Published LIBO Rate for the longest period (for which the applicable Published LIBO Rate is available) that is shorter than the Interest
Period of that LIBO Rate Loan and (b) the applicable Published LIBO Rate for the shortest period (for which the applicable Published
LIBO Rate is available) that exceeds the Interest Period of that LIBO Rate Loan, in each case, as of 11:00 a.m. (London time) two
Business Days prior to the first day of such Interest Period.

 

“Investment”
means (a) any purchase or other acquisition for consideration by the Borrower or any of its Restricted Subsidiaries of any of the
Capital Stock of any other Person (other than any Loan Party), (b) the acquisition for consideration by the Borrower or any of its
Restricted Subsidiaries by purchase or otherwise (other than any purchase or other acquisition of inventory, materials, supplies and/or
equipment in the ordinary course of business) of all or a substantial portion of the business, property or fixed assets of any other Person
constituting an operating division or operating line of business or other operating business unit of such other Person and (c) any
loan, advance (other than any advance to any current or former employee, officer, director, member of management, manager, consultant
or independent contractor of the Borrower, any Restricted Subsidiary, or any Parent Company for moving, entertainment and travel expenses,
drawing accounts and similar expenditures in the ordinary course of business) or capital contribution in exchange for consideration by
the Borrower or any of its Restricted Subsidiaries to any other Person. Subject to Section 5.10, the amount of any Investment
shall be the original cost of such Investment, plus the cost of any addition thereto that otherwise constitutes an Investment, without
any adjustment for any increase or decrease in value, or any write-up, write-down or write-off with respect thereto, but giving effect
to (i) any repayment of principal and/or interest in the case of any Investment in the form of a loan or other debt instrument and
(ii) any return of capital or return on Investment in the case of any equity Investment (whether as a distribution, dividend, redemption
or sale but not in excess of the amount of the relevant initial Investment). It is understood and agreed that the term “Investment”
shall exclude (A) intercompany advances arising from cash management, tax and accounting operations and (B) intercompany loans,
advances or Indebtedness made in the ordinary course of business that have a term that does not exceed 364 days.

 

    41

     

    

 

“Investors”
means (a) the Sponsor, (b) the Management Investors and (c) other investors that, directly or indirectly, beneficially
own Capital Stock in Holdings on the Closing Date, which may include one or more of the Sponsor’s limited partners.

 

“IP Rights”
has the meaning assigned to such term in Section 3.05(c).

 

“IRS” means
the US Internal Revenue Service.

 

“ISDA CDS Definitions”
has the meaning assigned to such term in Section 9.02.

 

“Joinder Agreement”
means a Joinder Agreement substantially in the form of Exhibit K or such other form that is reasonably satisfactory to the
Administrative Agent and the Borrower; it being understood and agreed that any Joinder Agreement executed by any Foreign Subsidiary may
include such modifications as may be necessary to reflect the fact that such Foreign Subsidiary may not become party to the Security Agreement.

 

“Junior Lien Debt”
means any Indebtedness (other than Indebtedness among Holdings, the Borrower and/or any of their respective subsidiaries) that is secured
by a Lien on the Collateral that is expressly junior or subordinated to the Lien on the Collateral securing the Initial Loans.

 

“Latest Maturity
Date” means, as of any date of determination, the latest maturity or expiration date applicable to any Loan or commitment hereunder
at such time.

 

“Legal Reservations”
means the application of the relevant Debtor Relief Laws, general principles of equity and/or principles of good faith and fair dealing.

 

“Lender”
means any Initial Lender and any Additional Lender, including any Person that becomes a party hereto pursuant to an Assignment Agreement,
other than any such Person that ceases to be a party hereto pursuant to an Assignment Agreement.

 

“Letter-of-Credit
Right” has the meaning set forth in Article 9 of the UCC.

 

“LIBO Rate”
means, the Published LIBO Rate, as adjusted to reflect applicable reserves prescribed by governmental authorities; provided that,
solely with respect to the Initial Loans, in no event shall the LIBO Rate be less than 0.75% per annum.

 

“Lien”
means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference,
priority or other security interest or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other
title retention agreement, any easement, right of way or other encumbrance on title to real property, and any Capital Lease having substantially
the same economic effect as any of the foregoing), in each case, in the nature of security; provided that in no event shall an
operating lease in and of itself be deemed to constitute a Lien.

 

“Loan”
means any Initial Loan and/or any Additional Loan.

 

“Loan Documents”
means this Agreement, any Promissory Note, each Loan Guaranty, the Collateral Documents, any Intercreditor Agreement (if any) to which
the Borrower is a party, any Perfection Certificate, each Refinancing Amendment, each Incremental Facility Amendment, each Extension Amendment,
the Fee Letters and any other document or instrument designated by the Borrower and the Administrative Agent as a “Loan Document”.
Any reference in this Agreement or any other Loan Document to a Loan Document shall include all appendices, exhibits or schedules thereto.

 

    42

     

    

 

“Loan Guarantor”
means (a) Holdings and (b) any Subsidiary Guarantor.

 

“Loan Guaranty”
means the Second Lien Loan Guaranty, substantially in the form of Exhibit I hereto, executed by each Loan Party thereto and
the Administrative Agent for the benefit of the Secured Parties, as supplemented in accordance with the terms of Section 5.12.

 

“Loan Parties”
means the Borrower and each Loan Guarantor.

 

“Management Investors”
means the current and former officers, directors, managers, employees and members of management of the Borrower, any Parent Company and/or
any subsidiary of the Borrower.

 

“Margin Stock”
has the meaning assigned to such term in Regulation U.

 

“Market Capitalization”
means an amount, determined by the Borrower in good faith, equal to (a) the total number of issued and outstanding shares of common
Capital Stock of the Borrower or the applicable Parent Company, as applicable, on the date of the declaration of a Restricted Payment
permitted pursuant to Section 6.04(a)(vii) multiplied by (b) the arithmetic mean of the closing prices per share
of such common Capital Stock on the principal securities exchange on which such common Capital Stock are traded for the 30 consecutive
trading days immediately preceding the date of declaration of such Restricted Payment.

 

“Material Adverse
Effect” means a material adverse effect on (i) the business, assets, financial condition or results of operations, in each
case, of the Borrower and its Restricted Subsidiaries, taken as a whole, (ii) the rights and remedies (taken as a whole) of the Administrative
Agent under the applicable Loan Documents or (iii) the ability of the Loan Parties (taken as a whole) to perform their payment obligations
under the applicable Loan Documents.

 

“Material Debt Instrument”
means any physical instrument evidencing any Indebtedness for borrowed money owing from any Person other than any Loan Party) which is
required to be pledged and delivered to the Administrative Agent (or its bailee) pursuant to the Security Agreement.

 

“Material Real Estate
Asset” means (a) on the Closing Date, each Real Estate Asset listed on Schedule 1.01(c) and (b) any
 “fee-owned” Real Estate Asset located in the US, any state thereof or the District of Columbia that is acquired by any Loan
Party after the Closing Date having a fair market value (as determined by the Borrower in good faith after taking into account any liabilities
with respect thereto that impact such fair market value) in excess of $10,000,000 as of the date of the acquisition thereof.

 

“Maturity Date”
means (a) with respect to any Initial Loan, the Initial Maturity Date, (b) with respect to any Replacement Loan, the final maturity
date for such Replacement Loan set forth in the applicable Refinancing Amendment, (c) with respect to any Incremental Facility, the
final maturity date set forth in the applicable Incremental Facility Amendment, and (d) with respect to any Extended Loan, the final
maturity date set forth in the applicable Extension Amendment.

 

“Maximum Rate”
has the meaning assigned to such term in Section 9.19.

 

“MFN Indebtedness”
means any Indebtedness that is a term loan that is pari passu with the Initial Loans in right of payment and with respect to security.

 

“MFN Provision” has
the meaning assigned to such term in Section 2.22(a)(v).

 

    43

     

    

 

“MichaelAngelo Business”
means the assets, subsidiaries and operating activities comprising the business segment of the Borrower known as “MichaelAngelo”,
including the MichaelAngelo Entity and the plant and equipment, product lines and IP Rights owned by the MichaelAngelo Entity or otherwise
comprising the “MichaelAngelo” business segment.

 

“MichaelAngelo Entity”
means, collectively, Bottom Line Food Processors, Inc., a Delaware corporation, and each other Restricted Subsidiary that is material
to the operation of the MichaelAngelo Business (as determined by the Borrower).

 

“Minimum Extension
Condition” has the meaning assigned to such term in Section 2.23(b).

 

“Moody’s”
means Moody’s Investors Service, Inc.

 

“Mortgage”
means any mortgage, deed of trust or other agreement which conveys or evidences a Lien in favor of the Administrative Agent, for the benefit
of the Administrative Agent and the relevant Secured Parties, on any Material Real Estate Asset constituting Collateral, which shall contain
such terms as may be necessary under applicable local Requirements of Law to perfect a Lien on the applicable Material Real Estate Asset.

 

“Mortgaged Property”
means any Material Real Estate Asset that is encumbered by a Mortgage.

 

“Multiemployer Plan”
means any employee benefit plan which is a “multiemployer plan” as defined in Section 3(37) of ERISA that is subject
to the provisions of Title IV of ERISA, and in respect of which Holdings, the Borrower or any of its Restricted Subsidiaries, or any of
their respective ERISA Affiliates, makes or is obligated to make contributions or with respect to which any of them has any ongoing obligation
or liability, contingent or otherwise.

 

“NB Fee Letter”
means the Facility Fee Letter, dated as of the Closing Date, among the Borrower, NB PD III Holdings (UO) LP, NB PD IV Holdings (UO-A)
LP, NB Private Debt Fund IV Lux (B) SCSp and NB Flamingo Private Debt Fund LP.

 

“Net Insurance/Condemnation
Proceeds” means an amount equal to:

 

(a)           any
Cash payment or proceeds (including Cash Equivalents) received by the Borrower or any of its Restricted Subsidiaries (i) under any
casualty insurance policy in respect of a covered loss thereunder of any asset of the Borrower or any of its Restricted Subsidiaries
or (ii) as a result of the taking of any asset of the Borrower or any of its Restricted Subsidiaries by any Person pursuant to the
power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat
of such a taking, in each case other than any amount that is attributable to business interruption and/or lost profit; minus

 

(b)           the
sum of the following:

 

(i)            any
actual out-of-pocket cost and/or expense incurred by the Borrower or any of its Restricted Subsidiaries in connection with the adjustment,
settlement or collection of any claims of the Borrower or the relevant Restricted Subsidiary in respect thereof;

 

(ii)           payment
of the outstanding principal amount of, premium or penalty, if any, and interest and other amounts on any Indebtedness (other than the
Loans and any other Indebtedness that constitutes First Lien Debt, Second Lien Debt and/or Junior Lien Debt) that is secured by a Lien
on the assets in question and that is required to be repaid or otherwise comes due or would be in default under the terms thereof as
a result of such loss, taking or sale;

 

    44

     

    

 

(iii)          the
reasonable out-of-pocket costs of putting any affected property in a safe and secure position;

 

(iv)          any
selling costs and/or out-of-pocket expense (including reasonable broker’s fees or commissions, legal fees, accountants’ fees,
investment banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage
recording taxes, other customary expenses and brokerage, consultant and other customary fees actually incurred in connection therewith
transfer and similar Taxes and the Borrower’s good faith estimate of income Taxes paid or payable (including pursuant to Tax sharing
arrangements or any intercompany distribution)) in connection with any sale or taking of such assets as described in clause (a) of
this definition; it being understood that the reduction of any net operating loss resulting from such Disposition shall be deemed to
constitute an income Tax “paid or payable” for purposes of this clause (iv);

 

(v)           any
amount provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustments
associated with any sale or taking of such assets as referred to in clause (a) of this definition (provided that to
the extent and at the time any such amount is released from such reserve, such amounts shall constitute Net Insurance/Condemnation Proceeds);
and

 

(vi)          in
the case of any covered loss or taking from any non-Wholly-Owned Subsidiary, the pro rata portion thereof (calculated without regard
to this clause (vi)) attributable to minority interests and not available for distribution to or for the account of the Borrower
or a Wholly-Owned Subsidiary as a result thereof.

 

“Net Proceeds”
means:

 

(a)            with
respect to any Disposition (including any Prepayment Asset Sale), the Cash proceeds (including Cash Equivalents and Cash proceeds subsequently
received (as and when received) in respect of non-cash consideration initially received), net of:

 

(i)            selling
costs and out-of-pocket expenses (including reasonable broker’s fees or commissions, legal fees, accountants’ fees, investment
banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage recording
taxes, other customary expenses and brokerage, consultant and other customary fees actually incurred in connection therewith and transfer
and similar Taxes and the Borrower’s good faith estimate of income Taxes paid or payable (including pursuant to any Tax sharing
arrangement and/or any intercompany distribution) in connection with such Disposition); it being understood that the reduction in the
amount of any net operating loss resulting from such Disposition shall be deemed to constitute an income Tax “paid or payable”
for purposes of this clause (i);

 

(ii)           amounts
provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustment
associated with such Disposition (provided that to the extent and at the time any such amount is released from such reserve, such amounts
shall constitute Net Proceeds);

 

(iii)           the
principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness (other than the Loans and any other Indebtedness
that constitutes First Lien Debt, Second Lien Debt and/or Junior Lien Debt) which is secured by the asset sold in such Disposition and
which is required to be repaid or otherwise comes due or would be in default and is repaid (other than any such Indebtedness that is
assumed by the purchaser of such asset);

 

    45

     

    

 

(iv)          any
Cash escrow (until released from escrow to the Borrower or any of its Restricted Subsidiaries) from the sale price for such Disposition;

 

(v)           in
the case of any Disposition by any non-Wholly-Owned Subsidiary, the pro rata portion of the Net Proceeds thereof (calculated without
regard to this clause (v)) that is attributable to any minority interest and not available for distribution to or for the account
of the Borrower or a Wholly-Owned Subsidiary as a result thereof; and

 

(vi)          any
amount used to repay or return any customer deposit required to be repaid or returned as a result of such Disposition; and

 

(b)           with
respect to any issuance or incurrence of Indebtedness, issuance of Capital Stock and/or any contribution in respect of any Capital Stock,
the Cash proceeds thereof, net of all Taxes and customary fees, commissions, costs, underwriting discounts and other fees and expenses
incurred in connection therewith, including any cost associated with the unwinding of any Hedge Agreement in connection with such Indebtedness).

 

“Net Short Lender”
has the meaning assigned to such term in Section 9.02(e).

 

“Non-Debt Fund Affiliate”
means any Investor (which is an Affiliate of Holdings) and any Affiliate of any such Investor, other than any Debt Fund Affiliate.

 

“Noosa Business”
means the assets, subsidiaries and operating activities comprising the business segment of the Borrower known as “Noosa”,
including the Noosa Entity and the plant and equipment, product lines and IP Rights owned by the Noosa Entity or otherwise comprising
the “Noosa” business segment.

 

“Noosa Entity”
means, collectively, Noosa Holdings, Inc., a Delaware corporation, and each other Restricted Subsidiary that is material to the operation
of the Noosa Business (as determined by the Borrower).

 

“Noosa Lease Agreement”
means that certain Amended and Restated Lease Agreement, dated as of January 1, 2018, by and between Morning Fresh Dairy Farm, LLC,
a Colorado limited liability company, and Noosa Yoghurt, LLC, a Colorado limited liability company, and any amendments, restatements,
amendments and restatements, replacements, modifications or supplements with respect thereto.

 

“Obligations”
means all unpaid principal of and accrued and unpaid interest (including interest accruing during the pendency of any bankruptcy, insolvency,
receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, all accrued and
unpaid fees and all expenses (including fees and expenses accruing during the pendency of any bankruptcy, insolvency, receivership or
other similar proceeding, regardless of whether allowed or allowable in such proceeding), reimbursements, indemnities and all other advances
to, debts, liabilities and obligations of any Loan Party to the Lenders or to any Lender, the Administrative Agent or any indemnified
party arising under the Loan Documents in respect of any Loan, whether direct or indirect (including those acquired by assumption), absolute,
contingent, due or to become due, now existing or hereafter arising.

 

“Obligations Derivative
Instrument” has the meaning assigned to such term in Section 9.05(d)(ii).

 

“OFAC”
has the meaning assigned to such term in Section 3.17(a).

 

“OR Fee Letter”
means, collectively (a) the Facility Fee Letter, dated as of the Closing Date, among, inter alios, the Borrower and the Administrative
Agent and (b) the Arrangement Fee Letter, dated as of the Closing Date, between the Borrower and ORCA I LLC.

 

    46

     

    

 

“Organizational Documents”
means (a) with respect to any corporation, its certificate or articles of incorporation or organization and its by-laws, (b) with
respect to any limited partnership, its certificate of limited partnership and its partnership agreement, (c) with respect to any
general partnership, its partnership agreement, (d) with respect to any limited liability company, its articles of organization or
certificate of formation, and its operating agreement, and (e) with respect to any other form of entity, such other organizational
documents required by local Requirements of Law or customary under such jurisdiction to document the formation and governance principles
of such type of entity. In the event that any term or condition of this Agreement or any other Loan Document requires any Organizational
Document to be certified by a secretary of state or similar governmental official, the reference to any such “Organizational Document”
shall only be to a document of a type customarily certified by such governmental official.

 

“Other Applicable
Indebtedness” has the meaning assigned to such term in Section 2.11(b)(ii).

 

“Other Connection
Taxes” means, with respect to any Lender or the Administrative Agent Taxes imposed as a result of a present or former connection
between such recipient and the jurisdiction imposing such Tax (other than connections arising solely from such recipient having executed,
delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under,
or 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 Taxes or any intangible, recording, filing or other similar Taxes arising from
any payment made under any Loan Document or from the execution, delivery or enforcement or registration, from the receipt or perfection
of a security interest under, or otherwise with respect to, any Loan Document, but excluding (i) any Excluded Taxes, and (ii) any
such Taxes that are Other Connection Taxes imposed with respect to an assignment or participation (other than an assignment made pursuant
to Section 2.19).

 

“Owl Rock”
has the meaning assigned to such term in the preamble.

 

“Parent Company”
means any Person of which the Borrower is a direct or indirect Wholly-Owned Subsidiary.

 

“Participant”
has the meaning assigned to such term in Section 9.05(c)(i).

 

“Participant/SPC
Register” has the meaning assigned to such term in Section 9.05(c).

 

“Patent”
means the following: (a) any and all patents and patent applications; (b) all inventions described and claimed therein; (c) all
reissues, divisions, continuations, renewals, extensions and continuations in part thereof; (d) all income, royalties, damages, claims,
and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past
and future infringements thereof; (e) all rights to sue for past, present, and future infringements thereof; and (f) all rights
corresponding to any of the foregoing.

 

“Payment Recipient”
has the meaning assigned to such term in Section 8.14(a).

 

“PBGC”
means the Pension Benefit Guaranty Corporation.

 

“PCT Listco”
means (a) the Public Entity or (b) any Wholly-Owned Subsidiary of Holdings formed in contemplation of a Public Company Transaction
to become the Public Entity.

 

“PCT Reorganization
Transaction” means, collectively, the transactions taken in connection with and reasonably related to consummating a Public
Company Transaction, including:

 

    47

     

    

 

(a)            formation
and ownership of any PCT Shell Company;

 

(b)           entry
into, and performance of, (i) a reorganization or similar agreement among any of the Borrower, one or more of its subsidiaries,
any Parent Company and/or any PCT Shell Company that implements a transaction described in this definition of “PCT Reorganization
Transaction” and any other reorganization transaction in connection with any Public Company Transaction, so long as after giving
effect to such agreement and the transactions contemplated thereby, in the good faith determination of the Borrower, the security interests
of the Lenders in the Collateral and the Loan Guaranty, taken as a whole, would not be materially impaired and (ii) any customary
underwriting agreement in connection with a Public Company Transaction and any future follow-on underwritten public offering of common
Capital Stock in the Public Entity, including the provision by any Public Entity and Holdings or the Borrower of customary representations,
warranties, covenants and indemnification to the underwriters thereunder;

 

(c)            (i) the
merger of any PCT Subsidiary with one or more direct or indirect holders of Capital Stock in Holdings, with such PCT Subsidiary as the
survivor of such merger, and holding Capital Stock in Holdings and/or (ii) the dividend or other distribution by Holdings or the
Borrower of Capital Stock of any PCT Shell Company or other transfer of ownership to any holder of Capital Stock of Holdings;

 

(d)           the
issuance of the Capital Stock of any PCT Shell Company to holders of Capital Stock of Holdings in connection with any PCT Reorganization
Transaction;

 

(e)            the
making of Restricted Payments to (or Investments in) any PCT Shell Company or Holdings or any subsidiary to permit Holdings or the Borrower
to make distributions or other transfers, directly or indirectly, to PCT Listco, in each case solely for the purpose of paying, and solely
in the amount necessary for PCT Listco to pay, Public Company Transaction-related expenses and the making of any such distribution by
Holdings;

 

(f)             the
repurchase by PCT Listco of its Capital Stock from Holdings, the Borrower or any subsidiary;

 

(g)           the
entry into any exchange agreement, pursuant to which holders of Capital Stock of Holdings and certain non-economic/voting Capital Stock
in PCT Listco will be permitted to exchange such interests for certain economic/voting Capital Stock of PCT Listco;

 

(h)           any
issuance, dividend or distribution of the Capital Stock of any PCT Shell Company or other Disposition of ownership thereof to any PCT
Shell Company and/or the direct or indirect holders of Capital Stock of Holdings; and

 

(i)             any
other transaction reasonably incidental to, or necessary for the consummation of, a Public Company Transaction so long as after giving
effect to such transaction, in the good faith determination of the Borrower, the security interests of the Lenders in the Collateral
and the Loan Guaranty, taken as a whole, would not be materially impaired.

 

“PCT Shell Company”
means each of PCT Listco and any PCT Subsidiary.

 

“PCT Subsidiary”
means any Wholly-Owned Subsidiary of PCT Listco formed in contemplation of, and to facilitate, any PCT Reorganization Transaction and
any Public Company Transaction.

 

“Pension Plan”
means any employee pension benefit plan, as defined in Section 3(2) of ERISA (other than a Multiemployer Plan), that is subject
to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, which Holdings, the Borrower or any
of its Restricted Subsidiaries, or any of their respective ERISA Affiliates, maintains or contributes to or has an obligation to contribute
to, or otherwise has any liability, contingent or otherwise.

 

    48

     

    

 

“Perfection Certificate”
means a certificate substantially in the form of Exhibit J or such other form that is reasonably acceptable to the Administrative
Agent and the Borrower.

 

“Perfection Requirements”
means (a) with respect to the Loan Parties (other than any Discretionary Guarantor that is a Foreign Subsidiary), the filing of appropriate
financing statements with the office of the Secretary of State or other appropriate office of the state of organization of each Loan Party,
the filing of Intellectual Property Security Agreements or other appropriate instruments or notices with the US Patent and Trademark Office
and the US Copyright Office (solely as required under applicable Requirements of Law), the proper recording or filing, as applicable,
of Mortgages and fixture filings with respect to any Material Real Estate Asset constituting Collateral, in each case in favor of the
Administrative Agent for the benefit of the Secured Parties and the delivery to the Administrative Agent (or the First Lien Collateral
Agent, as gratuitous bailee for the Administrative Agent) of any stock certificate or promissory note, together with instruments of transfer
executed in blank and (b) with respect to any Discretionary Guarantor that is a Foreign Subsidiary, any recording, filing, registration,
notification or other action required to be taken in the applicable jurisdiction, in each case of the foregoing clauses (a) and
(b), to the extent required by the applicable Loan Documents.

 

“Permitted Acquisition”
means any acquisition made by the Borrower or any of its Restricted Subsidiaries, whether by purchase, merger or otherwise, of all or
substantially all of the assets of, or any business line, unit or division or product line (including research and development and related
assets in respect of any product) of, any Person or of a majority of the outstanding Capital Stock of any Person (and, in any event, including
any Investment in (a) any Restricted Subsidiary the effect of which is to increase the Borrower’s or any Restricted Subsidiary’s
equity ownership in such Restricted Subsidiary or (b) any joint venture for the purpose of increasing the Borrower’s or its
relevant Restricted Subsidiary’s ownership interest in such joint venture) if (i) such Person becomes a Restricted Subsidiary
or (ii) such Person, in one transaction or a series of related transaction, is amalgamated, merged or consolidated with or into,
or transfers or conveys substantially all of its assets (or such division, business unit or product line) to, or is liquidated into, the
Borrower or any Restricted Subsidiary as a result of such Investment.

 

“Permitted Asset
Swap” means the concurrent purchase and sale or exchange of Related Business Assets or any combination of Related Business Assets
between the Borrower and/or any Restricted Subsidiary, on the one hand, and any other Person, on the other hand.

 

“Permitted Bond Hedge
Transaction” means any call or capped call option (or substantively equivalent derivative transaction) with respect to the Public
Entity’s common equity that is purchased by the Public Entity in connection with the issuance of any Convertible Indebtedness; provided
that the purchase price for such Permitted Bond Hedge Transaction, less the proceeds received by the Public Entity from the sale of any
related Permitted Warrant Transaction, does not exceed the net proceeds received by the Public Entity from the Convertible Indebtedness
issued in connection with such Permitted Bond Hedge Transaction.

 

“Permitted Holders”
means (a) the Investors and (b) any Person with which one or more Investors and/or management form a “group” (within
the meaning of Section 14(d) of the Exchange Act) so long as, in the case of this clause (b), the relevant Investors
beneficially own more than 50% of the relevant voting Capital Stock beneficially owned by the group.

 

“Permitted Warrant
Transaction” means any call option, warrant or right to purchase (or substantively equivalent derivative transaction) with respect
to the Public Entity’s common equity sold by the Public Entity substantially concurrently with a related Permitted Bond Hedge Transaction.

 

“Permitted Liens”
means Liens permitted pursuant to Section 6.02.

 

    49

     

    

 

“Person”
means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental
Authority or any other entity.

 

“Plan”
means any “employee benefit plan” (as such term is defined in Section 3(3) of ERISA) maintained by Holdings and/or
any Restricted Subsidiary or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any
of its ERISA Affiliates, other than any Multiemployer Plan.

 

“Platform”
has the meaning assigned to such term in Section 5.01.

 

“Prepayment Asset
Sale” means any non-ordinary course Disposition by the Borrower or any Restricted Subsidiary made pursuant to Section 6.07(h) (other
than any Disposition of any asset of the Borrower or any Restricted Subsidiary acquired after the Closing Date that was (a) acquired
with the proceeds of Qualified Capital Stock and/or any capital contribution in respect of Qualified Capital Stock and/or (b) contributed
to the Borrower and/or any Restricted Subsidiary in respect of Qualified Capital Stock).

 

“Primary Obligor”
has the meaning assigned to such term in the definition of “Guarantee”.

 

“Prime Rate”
means the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the US 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 reasonably determined by the Administrative Agent) or any similar release by the Federal
Reserve Board (as reasonably determined by the Administrative Agent).

 

“Pro Forma Basis”
or “pro forma effect” means, with respect to any determination of the Total Net Leverage Ratio, the First Lien Net
Leverage Ratio, the Secured Net Leverage Ratio, Consolidated Adjusted EBITDA or Consolidated Total Assets (including any component definition
thereof), that:

 

(a)            in
the case of (i) any Disposition of all or substantially all of the Capital Stock of any Restricted Subsidiary or any division and/or
product line of the Borrower and/or any Restricted Subsidiary, (ii) any designation of a Restricted Subsidiary as an Unrestricted
Subsidiary and/or (iii) the implementation of any Business Optimization Initiative relating to a cost-savings action or (iv) if
applicable, any Subject Transaction described in clauses (i) or (j) of the definition thereof, income statement
items (whether positive or negative and including any expected cost saving) attributable to the property or Person subject to such Subject
Transaction, shall be excluded as of the first day of the applicable Test Period with respect to any test or covenant for which the relevant
determination is being made;

 

(b)            in
the case of (i) any Permitted Acquisition or other Investment, (ii) any designation of any Unrestricted Subsidiary as a Restricted
Subsidiary, (iii) any transaction described in clause (h) of the definition of “Subject Transaction” of
(iv) if applicable, any Subject Transaction described in clause (j) of the definition thereof, income statement items
(whether positive or negative) attributable to the property or Person subject to such Subject Transaction shall be included as of the
first day of the applicable Test Period with respect to any test or covenant for which the relevant determination is being made;

 

(c)            [Reserved];

 

(d)           any
retirement or repayment of Indebtedness by the Borrower or any of its Subsidiaries that constitutes a Subject Transaction shall be deemed
to have occurred as of the first day of the applicable Test Period with respect to any test or covenant for which the relevant determination
is being made;

 

    50

     

    

 

(e)           any
Indebtedness incurred by the Borrower or any of its Restricted Subsidiaries in connection therewith that constitutes a Subject Transaction
shall be deemed to have occurred as of the first day of the applicable Test Period with respect to any test or covenant for which the
relevant determination is being made; provided that, (i) if such Indebtedness has a floating or formula rate, such Indebtedness
shall have an implied rate of interest for the applicable Test Period for purposes of this definition determined by utilizing the rate
that is or would be in effect with respect to such Indebtedness at the relevant date of determination (taking into account any interest
hedging arrangements applicable to such Indebtedness), (ii) interest on any obligation with respect to any Capital Lease shall be
deemed to accrue at an interest rate reasonably determined by a Responsible Officer of the Borrower in good faith to be the rate of interest
implicit in such obligation in accordance with GAAP and (iii) interest on any Indebtedness that may optionally be determined at
an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate or other rate shall be determined
to have been based upon the rate actually chosen, or if none, then based upon such optional rate chosen by the Borrower;

 

(f)             the
acquisition of any asset included in calculating Consolidated Total Assets (other than the amount Cash or Cash Equivalents, which is
addressed in clause (g) below), whether pursuant to any Subject Transaction or any Person becoming a subsidiary or merging,
amalgamating or consolidating with or into the Borrower or any of its subsidiaries, or the Disposition of any asset included in calculating
Consolidated Total Assets described in the definition of “Subject Transaction”, shall be deemed to have occurred as of the
last day of the applicable Test Period with respect to any test or covenant for which such calculation is being made;

 

(g)            subject
to Section 1.12, other than, for the avoidance of doubt, for purposes of Section 6.15(a), the Unrestricted Cash
Amount shall be calculated as of the date of the consummation of such Subject Transaction after giving pro forma effect thereto, including
any application of cash proceeds in connection therewith (other than, for the avoidance of doubt, the cash proceeds of any Indebtedness
that is the Subject Transaction for which such a calculation is being made); and

 

(h)           each
other Subject Transaction shall be deemed to have occurred as of the first day of the applicable Test Period (or, in the case of Consolidated
Total Assets, as of the last day of such Test Period) with respect to any test or covenant for which such calculation is being made.

 

Notwithstanding anything to
the contrary set forth in this definition, any calculation of “Pro Forma Basis” or “pro forma effect” shall be
subject to the express limitations and caps set forth in the definition of “Consolidated Adjusted EBITDA”.

 

“Projections”
means the financial projections, forecasts, financial estimates and other forward-looking and/or projected information of or relating
to the Borrower and its subsidiaries included in the Financial Model (or a supplement thereto).

 

“Promissory Note”
means a promissory note of the Borrower payable to any Lender or its registered assigns, in substantially the form of Exhibit L,
evidencing the aggregate outstanding principal amount of Loans of the Borrower to such Lender resulting from the Loans made by such Lender.

 

“PTE” means
a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

 

“Public Company Costs”
means Charges associated with, or in anticipation of, or preparation for, compliance with the requirements of the Sarbanes-Oxley Act of
2002 (and, in each case, similar Requirements of Law under other jurisdictions) and the rules and regulations promulgated in connection
therewith and Charges relating to compliance with the provisions of the Securities Act and the Exchange Act (and, in each case, similar
Requirements of Law under other jurisdictions), as applicable to companies with equity or debt securities held by the public, the rules of
national securities exchange companies with listed equity or debt securities, directors’, managers’ and/or employees’
compensation, fees and expense reimbursement, Charges relating to investor relations, shareholder meetings and reports to shareholders
or debtholders, directors’ and officers’ insurance and other executive costs, legal and other professional fees (including
auditors’ and accountants’ fees), listing fees, filing fees and other costs and/or expenses associated with being a public
company.

 

    51

     

    

 

“Public Company Transaction”
means any transaction or series of related transactions (including any initial public offering) that results in any of the common Capital
Stock of Holdings and/or any Parent Company (and/or any permitted successor thereto) being publicly traded on any US national securities
exchange or over-the-counter market or any analogous exchange in any other jurisdiction.

 

“Public Entity”
means, following any Public Company Transaction, the Person the Capital Stock of which is publicly traded as a result of such Public Company
Transaction (which may, for the avoidance of doubt, be a Person the Capital Stock of which was publicly traded prior to such Public Company
Transaction).

 

“Public Lender”
has the meaning assigned to such term in Section 9.01(d).

 

“Published LIBO Rate”
means, with respect to any Interest Period when used in reference to any Loan or Borrowing, (a) the rate of interest appearing on
the applicable Bloomberg Screen Page (or on any successor or substitute page of such service, or any successor to such service
as determined by Administrative Agent) as the London interbank offered rate for deposits in Dollars for a term comparable to such Interest
Period, at approximately 11:00 a.m. (London time) on the date that is two Business Days prior to the commencement of such Interest
Period (but if more than one rate is specified on such page, the rate will be an arithmetic average of all such rates) or (b) if
the rates described in clause (a) is not available at such time for any reason, then the “Published LIBO Rate” for such
Interest Period shall be the Interpolated Rate.

 

“QFC Credit Support”
has the meaning assigned to such term in Section 9.26.

 

“Qualified Capital
Stock” of any Person means any Capital Stock of such Person that is not Disqualified Capital Stock.

 

“Rao’s Business”
means the assets, subsidiaries and operating activities comprising the business segment of the Borrower known as “Rao’s”,
including the Rao’s Entity and the plant and equipment, product lines and IP Rights owned by the Rao’s Entity or otherwise
comprising the “Rao’s” business segment.

 

“Rao’s Entity”
means, collectively, Rao’s Specialty Foods, Inc., a New York corporation, and each other Restricted Subsidiary that is material
to the operation of the Rao’s Business (as determined by the Borrower).

 

“Ratio Debt”
has the meaning assigned to such term in Section 6.01(w).

 

“Real Estate Asset”
means, at any time of determination, all right, title and interest (fee, leasehold or otherwise) of any Person in and to real property
(including, but not limited to, land, improvements and fixtures thereon).

 

“Receivables Facility
Asset” has the meaning assigned to such term in the definition of “Receivables Facility”

 

“Receivables Facility”
means any receivables, factoring and/or securitization facility, arrangement or program that is, other than in the case of any factoring
arrangement, non-recourse to the Borrower and/or any Restricted Subsidiary that is not a Receivables Subsidiary (except for customary
(in the good faith determination of the Borrower) representations, warranties, covenants, performance undertakings, indemnities, guarantees
and liens) pursuant to which the Borrower and/or any of its Restricted Subsidiaries sells, contributes, transfers and/or grants a security
interest in (i) receivables, payables or securitization assets (including royalty and other revenue streams or other rights to payment
and the proceeds thereof) and/or similar and/or related assets and (ii) contract rights, lockbox accounts, deposit accounts, securities
accounts and records with respect to the assets described in the foregoing clause (i) (each of the assets described in the
foregoing clauses (i) and (ii), a “Receivables Facility Asset”) to either (A) a person that
is not a Restricted Subsidiary or (B) a Receivables Subsidiary that, in turn, pledges, sells or otherwise transfers its Receivables
Facility Assets to a Person that is not a Restricted Subsidiary (including any subsidiary of the Borrower).

 

    52

     

    

 

“Receivables Subsidiary”
means any subsidiary of the Borrower formed for the purpose of implementing, or that solely engages in activities relating to, any permitted
securitization, receivables facility, receivables financing, any Receivables Facility and/or any other receivables arrangement and/or
any other activity reasonably related thereto.

 

“Reference Time”
with respect to any setting of the then-current Benchmark means (1) if such Benchmark is the Published LIBO Rate (with respect to
Loans denominated in Dollars), 11:00 a.m. (London time) on the day that is two London banking days preceding the date of such setting,
and (2) if such Benchmark is not the Published LIBO Rate (with respect to Loans denominated in Dollars), the time determined by the
Administrative Agent in its reasonable discretion.

 

“Refinancing Amendment”
means an amendment to this Agreement that is reasonably satisfactory to the Administrative Agent and the Borrower executed by (a) the
Borrower, (b) the Administrative Agent and (c) each Lender that agrees to provide all or any portion of the Replacement Loans
being incurred pursuant thereto and in accordance with Section 9.02(c).

 

“Refinancing Indebtedness”
has the meaning assigned to such term in Section 6.01(p).

 

“Refunding Capital
Stock” has the meaning assigned to such term in Section 6.04(a)(viii).

 

“Register”
has the meaning assigned to such term in Section 9.05(b).

 

“Regulated Bank”
means any insured depository institution that is regulated by foreign, federal or state banking regulators, including, without limitation,
the United States Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation or the Board.

 

“Regulation D”
means Regulation D of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

 

“Regulation U”
means Regulation U of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

 

“Related Business
Assets” means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any asset
received by the Borrower or any Restricted Subsidiary in exchange for any asset transferred by the Borrower or any Restricted Subsidiary
shall not be deemed to constitute a Related Business Asset if such asset consists of securities of a Person, unless upon receipt of the
securities of such Person, such Person would become a Restricted Subsidiary.

 

“Related Funds”
means with respect to any Lender that is an Approved Fund, any other Approved Fund that is managed by the same investment advisor as such
Lender or by an Affiliate of such investment advisor.

 

“Related Parties”
means, with respect to any specified Person, such Person’s Affiliates and the respective directors, managers, officers, shareholders,
trustees, employees, partners, agents, advisors and other representatives of such Person and such Person’s Affiliates.

 

    53

     

    

 

“Release”
means any release, spill, emission, leaking, pumping, pouring, injection, escaping, deposit, disposal, discharge, dispersal, dumping,
leaching or migration of any Hazardous Material into the Environment (including the abandonment or disposal of any barrels, containers
or other closed receptacles containing any Hazardous Material), including the movement of any Hazardous Material 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.

 

“Replaced Loans”
has the meaning assigned to such term in Section 9.02(c)(i).

 

“Replacement Debt”
means any Refinancing Indebtedness (whether borrowed in the form of secured or unsecured loans, issued in a public offering, Rule 144A
under the Securities Act or other private placement or bridge financing in lieu of the foregoing or otherwise) incurred in respect of
Indebtedness permitted under Section 6.01(a) (and any subsequent refinancing of such Replacement Debt).

 

“Replacement Loans”
has the meaning assigned to such term in Section 9.02(c)(i).

 

“Reportable Event”
means, with respect to any Pension Plan or Multiemployer Plan, any of the events described in Section 4043(c) of ERISA or the
regulations issued thereunder, other than those events as to which the 30-day notice period is waived under PBGC Reg. Section 4043.

 

“Representatives”
has the meaning assigned to such term in Section 9.13.

 

“Required Lenders”
means, at any time, Lenders having Loans or unused Commitments representing more than 50% of the sum of the total Loans and such unused
Commitments at such time.

 

“Requirements of
Law” means, with respect to any Person, collectively, the common law and all federal, state, local, foreign, multinational or
international laws, statutes, codes, treaties, standards, rules and regulations, guidelines, ordinances, orders, judgments, writs,
injunctions, decrees (including administrative or judicial precedents or authorities) and the interpretation or administration thereof
by, and other determinations, directives, requirements or requests of any Governmental Authority, in each case whether or not having the
force of law and that are applicable to or binding upon such Person or any of its property or to which such Person or any of its property
is subject.

 

“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 any Person, the chief executive officer, the president, the chief financial officer, the treasurer, any assistant
treasurer of such Person and any other individual or similar official thereof, any executive vice president, any senior vice president,
any vice president or the chief operating officer or other officer responsible for the administration of the obligations of such Person
in respect of this Agreement, any member of the board of directors (in the case of any Person that is not incorporated in the US), and,
as to any document delivered on the Closing Date, shall include any secretary or assistant secretary or any other individual or similar
official thereof with substantially equivalent responsibilities of a Loan Party and, solely for purposes of notices given pursuant to
Article 2, any other officer of the applicable Loan Party so designated in writing by the Borrower to the Administrative Agent.
Any document delivered hereunder that is signed by a Responsible Officer of any Loan Party shall be conclusively presumed to have been
authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party, and such Responsible Officer shall
be conclusively presumed to have acted on behalf of such Loan Party.

 

“Restricted Amount”
has the meaning set forth in Section 2.11(b)(iv).

 

    54

     

    

 

 

“Restricted Debt”
means any Indebtedness described in clause (a) of the definition of “Indebtedness” (other than such Indebtedness
among Holdings, the Borrower or any of their respective subsidiaries) of any Loan Party that is contractually subordinated in right of
payment to the Obligations with an individual outstanding principal amount in excess of the Threshold Amount.

 

“Restricted Debt
Payment” has the meaning set forth in Section 6.04(b).

 

“Restricted Payment”
means (a) any dividend or other distribution on account of any shares of any class of the Capital Stock of the Borrower, except a
dividend payable solely in shares of Qualified Capital Stock to the holders of such class; (b) any redemption, retirement, sinking
fund or similar payment, purchase or other acquisition for value of any shares of any class of the Capital Stock of the Borrower and (c) any
payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class
of the Capital Stock of the Borrower now or hereafter outstanding.

 

“Restricted Subsidiary”
means, as to any Person, any subsidiary of such Person that is not an Unrestricted Subsidiary. Unless otherwise specified, “Restricted
Subsidiary” means any Restricted Subsidiary of the Borrower.

 

“Run-Rate Synergies”
has the meaning assigned to such term in the definition of “Consolidated Adjusted EBITDA”.

 

“Run-Rate Synergy
Cap” has the meaning assigned to such term in the definition of “Consolidated Adjusted EBITDA”.

 

“S&P”
means Standard & Poor’s Financial Services LLC, a subsidiary of the S&P Global, Inc.

 

“Sale and Lease-Back
Transaction” means any arrangement providing for the lease by the Borrower and/or any Restricted Subsidiary of any real property
or tangible personal property, which property has been or is to be sold or transferred by the Borrower or such Restricted Subsidiary in
contemplation of such lease arrangement.

 

“Scheduled Payment
Date” means the last Business Day of each March, June, September and December (commencing September 30, 2021).

 

“SEC” means
the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of its functions.

 

“Second Lien Debt”
means (a) the Initial Loans and (b) any Indebtedness that is pari passu with the Initial Loans in right of payment and
secured by a Lien on the Collateral that is pari passu with the Lien securing the Initial Loans.

 

“Secured Hedging
Obligations” means all Hedging Obligations (other than any Excluded Swap Obligations) under each Hedge Agreement that is in
effect on the Closing Date or entered into at any time on or after the Closing Date between any Loan Party and (a) a counterparty
that is (or is an Affiliate of) the Administrative Agent or a Lender as of the Closing Date or at the time such Hedge Agreement is entered
into and/or (b) any other Person designated by the Borrower to the Administrative Agent, in each case, for which such Loan Party
agrees to provide security and in each case that has been designated to the Administrative Agent in writing by the Borrower as being a
Secured Hedging Obligation for purposes of the Loan Documents, it being understood that each counterparty thereto shall be deemed (A) to
appoint the Administrative Agent as its agent under the applicable Loan Documents and (B) to agree to be bound by the provisions
of Article 8, Section 9.03 and Section 9.10 and any applicable Intercreditor Agreement as if it were
a Lender.

 

    55

     

    

 

“Secured Net Leverage
Ratio” means the ratio, as of any date of determination, of (a) Consolidated Secured Debt as of the last day of the most
recently ended Test Period to (b) Consolidated Adjusted EBITDA for the most recently ended Test Period, in each case, of the Borrower
and its Restricted Subsidiaries on a consolidated basis.

 

“Secured Obligations”
means all Obligations, together with (a) all Banking Services Obligations and (b) all Secured Hedging Obligations.

 

“Secured Parties”
means (a) the Lenders, (b) the Administrative Agent, (c) each counterparty to a Hedge Agreement with a Loan Party the obligations
under which constitute Secured Hedging Obligations, (d) each provider of Banking Services to any Loan Party the obligations under
which constitute Banking Services Obligations, and (e) any beneficiary of any indemnification obligation undertaken by any Loan Party
under any Loan Document.

 

“Securities Act”
means the Securities Act of 1933 and the rules and regulations of the SEC promulgated thereunder.

 

“Security”
means a fungible financial instrument that holds some monetary value, such as representing (a) an ownership interest in a publicly-traded
company or rights to such ownership, or (b) a creditor relationship with a Governmental Authority or company.

 

“Security Agreement”
means the Second Lien Pledge and Security Agreement, substantially in the form of Exhibit M, among the Loan Parties, as grantors,
and the Administrative Agent for the benefit of the Secured Parties.

 

“Shared Incremental
Amount” means the greater of $128,600,000 and 100% of Consolidated Adjusted EBITDA as of the last day of the most recently ended
Test Period.

 

“Similar Business”
means any Person the majority of the revenues of which are derived from a business that would be permitted by Section 5.18
if the references to “Restricted Subsidiaries” in Section 5.18 were read to refer to such Person.

 

“SOFR”
with respect to any Business Day means the secured overnight financing rate published for such Business Day on the immediately succeeding
Business Day by the Federal Reserve Bank of New York, as the administrator of the benchmark, (or a successor administrator) on the Federal
Reserve Bank of New York’s Website.

 

“SoftBank”
mean SoftBank Group Corp.

 

“Softbank Group”
means any Person controlling, controlled by or under common control with SoftBank that is not also controlled by Fortress Investment Group
LLC. For purposes of this definition, "control" means the power, through ownership of securities, contract or otherwise, to
direct the policies of the applicable person or entity.

 

“SPC” has
the meaning assigned to such term in Section 9.05(e).

 

“Special Dividend”
has the meaning assigned to such term in the recitals to this Agreement.

 

“Special Flood Hazard
Area” means an area that the Federal Emergency Management Agency has designated as an area subject to special flood or mud slide
hazards.

 

“Specified Commitment”
has the meaning assigned to such term in Section 1.12(g).

 

    56

     

    

 

“Specified Commitment
Notice” has the meaning assigned to such term in Section 1.12(g).

 

“Specified Guarantor
Release Provision” has the meaning assigned to such term in Section 8.09.

 

“Specified Representations”
means the representations and warranties set forth in Section 3.01(a)(i) (as it relates to organizational existence of
the Loan Parties), Section 3.02 (as it relates to the due authorization, execution, delivery and performance of the Loan Documents
and the enforceability thereof), Section 3.03(b)(i), Section 3.08, Section 3.12, Section 3.14
(as it relates to the creation, validity and perfection of the security interests in the Collateral), Section 3.16, Section 3.17(a)(ii),
Section 3.17(b) and Section 3.17(c)(ii) (solely as it relates to the use of proceeds in violation of
FCPA).

 

“Specified Subsidiary”
has the meaning assigned to such term in Section 2.11(b)(iv).

 

“Sponsor”
means, collectively, Advent, its controlled Affiliates and funds managed or advised by any of them or any of their respective controlled
Affiliates.

 

“Standstill”
has the meaning assigned to such term in Section 7.01(c).

 

“Subject Indebtedness”
has the meaning assigned to such term in Section 1.03.

 

“Subject Loans”
has the meaning assigned to such term in Section 2.11(b)(ii).

 

“Subject Person”
has the meaning assigned to such term in the definition of “Consolidated Net Income”.

 

“Subject Proceeds”
has the meaning assigned to such term in Section 2.11(b)(ii).

 

“Subject Transaction”
means:

 

(a)            the
Transactions;

 

(b)           any
Permitted Acquisition or any other acquisition or similar Investment, whether by purchase, merger or otherwise, of all or substantially
all of the assets of, or any business line, unit or division of, any Person or of a majority of the outstanding Capital Stock of any
Person (and, in any event, including any Investment in (i) any Restricted Subsidiary the effect of which is to increase the Borrower’s
or any Restricted Subsidiary’s respective equity ownership in such Restricted Subsidiary or (ii) any joint venture for the
purpose of increasing the Borrower’s or its relevant Restricted Subsidiary’s ownership interest in such joint venture), in
each case that is permitted by this Agreement;

 

(c)            any
Disposition of (i) all or substantially all of the assets or (ii) Capital Stock of any subsidiary (or any business unit, line
of business or division of the Borrower and/or any Restricted Subsidiary) not prohibited by this Agreement;

 

(d)           the
designation of a Restricted Subsidiary as an Unrestricted Subsidiary or an Unrestricted Subsidiary as a Restricted Subsidiary in accordance
with Section 5.10;

 

(e)           any
incurrence, retirement, redemption, repayment and/or prepayment of Indebtedness (other than any Indebtedness incurred or repaid under
any revolving credit facility in the ordinary course of business for working capital purposes);

 

(f)            any
capital contribution in respect of Qualified Capital Stock or any issuance of Qualified Capital Stock (other than any amount constituting
a Cure Amount);

 

(g)           the
implementation of any Business Optimization Initiative;

 

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(h)           at
the election of the Borrower, any discontinued operation; and/or

 

(i)            any
other event that by the terms of the Loan Documents requires pro forma compliance with a test or covenant hereunder or requires such
test or covenant to be calculated on a pro forma basis.

 

“subsidiary”
means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture or other business
entity of which more than 50% of the total voting power of stock or other ownership interests entitled (without regard to the occurrence
of any contingency) to vote in the election of the Person or Persons (whether directors, trustees or other Persons performing similar
functions) having the power to direct or cause the direction of the management and policies thereof is at the time owned or controlled,
directly or indirectly, by such Person or one or more of the other subsidiaries of such Person or a combination thereof, in each case
to the extent the relevant entity’s financial results are required to be included in such Person’s consolidated financial
statements under GAAP; provided that in determining the percentage of ownership interests of any Person controlled by another Person,
no ownership interests in the nature of a “qualifying share” of the former Person shall be deemed to be outstanding. Unless
otherwise specified, “subsidiary” shall mean any subsidiary of the Borrower.

 

“Subsidiary Guarantor”
means (a) on the Closing Date each subsidiary of the Borrower (other than any such subsidiary that is an Excluded Subsidiary on the
Closing Date) and (b) thereafter, each subsidiary of the Borrower that becomes a guarantor of the Secured Obligations pursuant to
the terms of this Agreement, in each case, until such time as the relevant subsidiary is released from its obligations under the Loan
Guaranty in accordance with the terms and provisions hereof.

 

“Successor Borrower”
has the meaning assigned to such term in Section 6.07(a).

 

“Successor Holdings”
has the meaning assigned to such term in Section 6.09(b).

 

“Supported QFC”
has the meaning assigned to such term in Section 9.26.

 

“Swap Obligations”
means, with respect to any Loan Guarantor, 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 Compliance Certificate”
has the meaning assigned to such term in Section 2.17(f).

 

“Taxes”
means all present and 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.

 

“Termination Date”
has the meaning assigned to such term in the lead-in to Article 5.

 

“Term Facility”
means the Loans provided to or for the benefit of the Borrower pursuant to the terms of this Agreement.

 

“Term SOFR”
means the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

 

“Test Period”
means, as of any date, the period of four consecutive Fiscal Quarters then most recently ended for which financial statements of the type
described in Sections 5.01(a) or (b), as applicable, have been delivered (or are required to have been delivered)
or, if earlier, are internally available; it being understood and agreed that (i) prior to the first delivery (or required delivery)
of financial statements under Sections 5.01(a) or (b), “Test Period” means the period of four consecutive
Fiscal Quarters most recently ended for which financial statements of the Borrower are available and (ii) at the election of the
Borrower in its sole discretion, (A) the period of four consecutive Fiscal Quarters ending on the last day of the fourth Fiscal Quarter
of any Fiscal Year may constitute a Test Period if financial statements of the type described in Section 5.01(a) for
the fourth Fiscal Quarter of such Fiscal Year are internally available and/or (B) the period of the twelve consecutive Fiscal Months
ending on the last day of the most recently ended Fiscal Month may constitute a Test Period if financial statements for such twelve Fiscal
Months are internally available.

 

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“Threshold Amount”
means the greater of $78,000,000 and 60% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period.

 

“Total Net Leverage
Ratio” means the ratio, as of any date of determination, of (a) Consolidated Total Debt outstanding as of the last day
of the most recently ended Test Period to (b) Consolidated Adjusted EBITDA for the most recently ended Test Period, in each case,
of the Borrower and its Restricted Subsidiaries on a consolidated basis.

 

“Trademark”
means the following: (a) all trademarks (including service marks), common law marks, trade names, trade dress, and logos, slogans
and other indicia of origin under the Requirements of Law of any jurisdiction in the world, and the registrations and applications for
registration thereof and the goodwill of the business symbolized by the foregoing, (b) all renewals of the foregoing, (c) all
income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages,
claims, and payments for past and future infringements thereof, (d) all rights to sue for past, present, and future infringements
of the foregoing, including the right to settle suits involving claims and demands for royalties owing and (e) all domestic rights
corresponding to any of the foregoing.

 

“Transaction Costs”
means fees, premiums, expenses and other transaction costs (including original issue discount or upfront fees) payable or otherwise borne
by the Borrower, any Parent Company and/or its subsidiaries in connection with the Transactions and the transactions contemplated thereby.

 

“Transactions”
means, collectively, (a) the execution, delivery and performance by the Loan Parties of the Loan Documents to which they are a party
and the Borrowing of Loans hereunder on the Closing Date, (b) the Closing Date Refinancing, (c) the execution, delivery and
performance by the Loan Parties of the Loan Documents (as defined in the First Lien Credit Agreement) to which they are a party and the
incurrence of Indebtedness under the First Lien Credit Agreement on the Closing Date, (d) the payment of the Special Dividend and
(e) the payment of the Transaction Costs.

 

“Treasury Capital
Stock” has the meaning assigned to such term in Section 6.04(a)(viii).

 

“Treasury Regulations”
means the US federal income tax regulations promulgated under the Code.

 

“Type”,
when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such
Borrowing, is determined by reference to the LIBO Rate or the Alternate Base Rate.

 

“UCC” means
the Uniform Commercial Code as in effect from time to time in the State of New York or any other state the laws of which are required
to be applied in connection with the creation or perfection of security interests.

 

“UK Financial Institution”
means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from 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.

 

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“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 Benchmark Replacement excluding the Benchmark Replacement Adjustment.

 

“Unrestricted Cash
Amount” means, as to any Person on any date of determination, the amount of (a) unrestricted Cash and Cash Equivalents
of such Person and (b) Cash and Cash Equivalents of such Person that are restricted in favor of the Term Facility and/or any First
Lien Facility and/or other permitted senior, pari passu or junior secured Indebtedness (which may also include Cash and Cash Equivalents
securing other Indebtedness that is secured by a Lien on Collateral along with the Term Facility, any First Lien Facility and/or other
permitted senior, pari passu or junior secured indebtedness), in each case (i) whether or not held in a pledged account and
(ii) calculated in accordance with GAAP.

 

“Unrestricted Subsidiary”
means (a) any subsidiary of the Borrower that is listed on Schedule 5.10 hereto or designated by the Borrower as an Unrestricted
Subsidiary after the Closing Date pursuant to Section 5.10 and (b) each subsidiary of any Person described in the preceding
clause (a).

 

“US” means
the United States of America.

 

“US Person”
means any Person that is a “United States person” as defined in Section 7701(a)(30) of the Code.

 

“US Special Resolution
Regimes” has the meaning assigned to such term in Section 9.26.

 

“USA PATRIOT Act”
means The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title
III of Pub. L. No. 107-56 (signed into law October 26, 2001)).

 

“Weighted Average
Life to Maturity” means, 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 scheduled 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; provided that the effects of any prepayment made in respect of such Indebtedness
shall be disregarded in making such calculation.

 

“Wholly-Owned Subsidiary”
of any Person means a subsidiary of such Person, 100% of the Capital Stock of which (other than directors’ qualifying shares or
shares required by Requirements of Law to be owned by a resident of the relevant jurisdiction) shall be owned by such Person or by one
or more Wholly-Owned Subsidiaries of such Person.

 

“Withdrawal Liability”
means the liability to any Multiemployer Plan as the result of a “complete” or “partial” withdrawal by Holdings,
the Borrower or any Restricted Subsidiary or any ERISA Affiliate from such Multiemployer Plan, as such terms are defined in Part I
of Subtitle E of Title IV of ERISA.

 

“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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Section 1.02.          Classification
of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., an “Initial
Loan”) or by Type (e.g., a “LIBO Rate Loan”) or by Class and Type (e.g., a “LIBO Rate Initial
Loan”). Borrowings also may be classified and referred to by Class (e.g., an “Initial Loan Borrowing”)
or by Type (e.g., a “LIBO Rate Borrowing”) or by Class and Type (e.g., a “LIBO Rate Initial Loan
Borrowing”).

 

Section 1.03.          Terms
Generally. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan
Document:

 

(a)            The
definitions of terms herein shall apply equally to the singular and plural forms of the terms defined.

 

(b)           Whenever
the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms.

 

(c)            The
words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without
limitation.”

 

(d)            The
word “will” shall be construed to have the same meaning and effect as the word “shall.”

 

(e)            The
words “herein,” “hereof” and “hereunder,” and words of similar import, when used in any Loan Document,
shall be construed to refer to such Loan Document in its entirety and not to any particular provision hereof.

 

(f)            Any
definition of or reference to any agreement, instrument or other document herein or in any Loan Document (including any Loan Document
and the First Lien Credit Agreement) shall be construed as referring to such agreement, instrument or other document as from time to
time amended, restated, amended and restated, supplemented or otherwise modified or extended, replaced or refinanced (subject to any
restrictions or qualifications on such amendments, restatements, amendment and restatements, supplements or modifications or extensions,
replacements or refinancings set forth herein).

 

(g)           Any
reference to any Requirement of Law in any Loan Document shall include all statutory and regulatory provisions consolidating, amending,
replacing, supplementing or interpreting such Requirement of Law.

 

(h)           Any
reference herein or in any Loan Document to any Person shall be construed to include such Person’s successors and permitted assigns.

 

(i)             All
references herein or in any Loan Document to Articles, Sections, clauses, paragraphs, Exhibits and Schedules shall be construed to refer
to Articles, Sections, clauses and paragraphs of, and Exhibits and Schedules to, such Loan Document.

 

(j)             In
the computation of periods of time in any Loan Document from a specified date to a later specified date, the word “from”
means “from and including”, the words “to” and “until” mean “to but excluding” and the
word “through” means “to and including”.

 

(k)            The
words “asset” and “property”, when used in any Loan Document, 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.

 

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(l)             For
purposes of determining compliance at any time with Sections 5.16, 6.01, 6.02, 6.04, 6.05, 6.06
and 6.07, in the event that any Affiliate transaction, Indebtedness, Lien, Restricted Payment, Restricted Debt Payment,
Burdensome Agreement, Investment or Disposition, as applicable, meets the criteria of more than one of the categories of transactions
or items permitted pursuant to any clause of such Sections 5.16, 6.01 (other than Sections 6.01(a) and
(x); provided that it is understood that the provisions of this Section 1.03(l) shall apply to any amount
incurred in reliance on any provision of the definition of “Incremental Cap” and/or the “Incremental Cap” (or
any equivalent term) as defined in any First Lien Facility), 6.02 (other than Sections 6.02(a) and (t)),
6.04, 6.05, 6.06 and 6.07, the Borrower, in its sole discretion, may, from time to time, classify or reclassify
such transaction or item (or portion thereof) under one or more clauses of each such Section and will only be required to include
the amount and type of such transaction (or portion thereof) in any one category; provided that:

 

(i)             upon
the date on which financial statements of the type described in Section 5.01(a) or (b) are delivered or,
if earlier, are or become internally available on the date of or following the initial incurrence of any portion of any Indebtedness
incurred under Section 6.01 (other than Section 6.01(a) or (x); provided that it is understood
that the provisions of this clause (i) shall apply to any amount incurred in reliance on any provision of the definition
of “Incremental Cap” and/or the “Incremental Cap” (or any equivalent term) as defined in any First Lien Facility)
(such portion of such Indebtedness, the “Subject Indebtedness”), if any such Subject Indebtedness could, based on
such financial statements, have been incurred in reliance on Section 6.01 (w), such Subject Indebtedness shall automatically
be reclassified as having been incurred under the applicable provisions of Section 6.01(w), as applicable (subject to any
other applicable provision of Section 6.01(w)) and any associated Lien will be deemed to have been permitted under Section 6.02
upon any such reclassification; it being understood for the avoidance of doubt that this clause (i) shall not limit the
provisions of the definition of “Incremental Cap”);

 

(ii)            upon
the date on which financial statements of the type described in Section 5.01(a) or (b) are delivered or,
if earlier are or, become internally available on the date of or following the making of any Investment in reliance on Section 6.06
(other than Section 6.06(bb)), if all or any portion of such Investment could, based on such financial statements, have been
made in reliance on Section 6.06(bb), such Investment (or the relevant portion thereof) shall automatically be reclassified
as having been made in reliance on Section 6.06(bb);

 

(iii)           upon
the date on which financial statements of the type described in Section 5.01(a) or (b) are delivered or,
if earlier are or, become internally available on the date of or, following the making of any Restricted Payment under Section 6.04(a) (other
than Section 6.04(a)(xi)), if all or any portion of such Restricted Payment could, based on such financial statements, have
been made in reliance on Section 6.04(a)(xi), such Restricted Payment (or the relevant portion thereof) shall automatically
be reclassified as having been made in reliance on Section 6.04(a)(xi); and

 

(iv)          upon
the date on which financial statements of the type described in Section 5.01(a) or (b) are delivered or,
if earlier are or, become internally available on the date of or, following the making of any Restricted Debt Payment under Section 6.04(b) (other
than Section 6.04(b)(vii)), if all or any portion of such Restricted Debt Payment could, based on such financial statements,
have been made in reliance on Section 6.04(b)(vii), such Restricted Debt Payment (or the relevant portion thereof) shall
automatically be reclassified as having been made in reliance on Section 6.04(b)(vii);

 

provided, further, that it is understood
and agreed that, (A) with respect to the fourth Fiscal Quarter of any Fiscal Year, prior to the date on which financial statements
of the type described in Section 5.01(b) for such Fiscal Year are delivered or, if earlier, are or become internally
available on the date of or, if earlier, are required to be delivered, the Borrower may, in its sole discretion, rely on financial statements
of the type described in Section 5.01(a) that are internally available to trigger the reclassification of any transaction
based on the financial results as of the end of the fourth Fiscal Quarter of such Fiscal Year and (B) the Borrower may, in its sole
discretion, rely on financial statements for the period of the twelve consecutive Fiscal Months ending on the last day of the most recently
ended Fiscal Month if financial statements for such twelve Fiscal Month period are or become internally available to trigger the reclassification
of any transaction with respect to any matter described above.

 

(m)           It
is understood and agreed that any Indebtedness, Lien, Restricted Payment, Restricted Debt Payment, Burdensome Agreement, Investment,
Disposition and/or Affiliate transaction need not be permitted solely by reference to one category of permitted Indebtedness, Lien, Restricted
Payment, Restricted Debt Payment, Burdensome Agreement, Investment, Disposition and/or Affiliate transaction under Section 5.16,
6.01, 6.02, 6.04, 6.05, 6.06 or 6.07, respectively, and may instead be permitted in part under
any combination thereof, but the Borrower will only be required to include the amount and type of such transaction (or portion thereof)
in one such category (or combination thereof). To the extent the applicability of Section 5.16 or 6.07 with respect
to any transaction is subject to a materiality threshold, such transaction shall only be required to comply with the provisions of such
Sections to the extent of the amount of such transaction that is in excess of such materiality threshold.

 

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(n)           For
purposes of any amount herein expressed as a percentage of Consolidated Adjusted EBITDA, “Consolidated Adjusted EBITDA”,
unless the context otherwise requires, shall be deemed to refer to Consolidated Adjusted EBITDA of the Borrower and its Restricted Subsidiaries.

 

Section 1.04.          Accounting
Terms; GAAP.

 

(a)           All
financial statements to be delivered pursuant to this Agreement shall be prepared in accordance with GAAP as in effect from time to time
and, except as otherwise expressly provided herein, all terms of an accounting nature that are used in calculating the First Lien Net
Leverage Ratio, the Secured Net Leverage Ratio, the Total Net Leverage Ratio, Consolidated Adjusted EBITDA or Consolidated Total Assets
shall be construed and interpreted in accordance with GAAP, as in effect from time to time; provided that if the Borrower notifies
the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring
after the date of delivery of the financial statements described in Section 3.04(a) in GAAP or in the application thereof
(including the conversion to IFRS as described below) on the operation of such provision, 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 becomes effective until such notice have been withdrawn or such provision amended in
accordance herewith; provided, further, that if the Borrower so requests, the Borrower and the Administrative Agent shall
negotiate in good faith to enter into an amendment of the relevant affected provisions (without the payment of any amendment or similar
fee to the Lenders) to preserve the original intent thereof in light of such change in GAAP or the application thereof; provided,
further, that 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 (i) any election under Accounting Standards Codification 825-10-25
(previously referred to as Statement of Financial Accounting Standards 159) (or any other Accounting Standards Codification or Financial
Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower or any subsidiary
at “fair value,” as defined therein and (ii) any treatment of Indebtedness in respect of convertible debt instruments
under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard having
a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness
shall at all times be valued at the full stated principal amount thereof. If the Borrower notifies the Administrative Agent that the
Borrower (or its applicable Parent Company) is required to report under IFRS or has elected to do so through an early adoption policy,
 “GAAP” shall mean international financial reporting standards pursuant to IFRS (provided that after such conversion,
the Borrower cannot elect to report under GAAP).

 

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(b)           Notwithstanding
anything to the contrary herein, but subject to Section 1.12, all financial ratios and tests (including the First Lien Net
Leverage Ratio, the Secured Net Leverage Ratio, the Total Net Leverage Ratio and the amount of Consolidated Total Assets and Consolidated
Adjusted EBITDA) contained in this Agreement that are calculated with respect to any Test Period during which any Subject Transaction
occurs shall be calculated with respect to such Test Period and such Subject Transaction on a Pro Forma Basis. Further, if since the
beginning of any such Test Period and on or prior to the date of any required calculation of any financial ratio or test (i) any
Subject Transaction has occurred or (ii) any Person that subsequently became a Restricted Subsidiary or was merged, amalgamated
or consolidated with or into the Borrower or any of its Restricted Subsidiaries or any joint venture since the beginning of such Test
Period has consummated any Subject Transaction, then, in each case, any applicable financial ratio or test shall be calculated on a Pro
Forma Basis for such Test Period as if such Subject Transaction had occurred at the beginning of the applicable Test Period (or, in the
case of Consolidated Total Assets (or with respect to any determination pertaining to the balance sheet, including the acquisition of
Cash and/or Cash Equivalents), as of the last day of such Test Period).

 

(c)            Notwithstanding
anything to the contrary contained in paragraph (a) above or in the definition of “Capital Lease,”, only those
leases (assuming for purposes hereof that such leases were then in existence) that would constitute Capital Leases in conformity with
GAAP as in effect prior to giving effect to the adoption of ASU No. 2016-02 “Leases (Topic 842)” and ASU No. 2018-11
 “Leases (Topic 842)” shall be considered Capital Leases hereunder or under any other Loan Document, and all calculations
and deliverables under this Agreement or any other Loan Document shall be made, prepared or available, as applicable, in accordance therewith;
provided, that all financial statements required to be provided hereunder may, at the option of the Borrower, be prepared in accordance
with GAAP without giving effect to the foregoing treatment of Capital Leases.

 

Section 1.05.          Effectuation
of Transactions. Each of the representations and warranties contained in this Agreement (and all corresponding definitions) is made
after giving effect to the Transactions, unless the context otherwise requires.

 

Section 1.06.          Timing
of Payment or Performance. When payment of any obligation or the performance of any covenant, duty or obligation is stated to be
due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition
of “Interest Period”) or performance shall extend to the immediately succeeding Business Day, and, in the case of any payment
accruing interest, interest thereon shall be payable for the period of such extension.

 

Section 1.07.          Times
of Day. Unless otherwise specified herein, all references herein to times of day shall be references to New York City time (daylight
or standard, as applicable).

 

Section 1.08.          Currency
Equivalents Generally.

 

(a)            For
purposes of any determination under Article 1, Article 5, Article 6 (other than the calculation of
compliance with any financial ratio for purposes of taking any action hereunder) or Article 7 with respect to any Affiliate
transaction, the amount of any Indebtedness, Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition or other
transaction, event or circumstance, or any determination under any other provision of this Agreement, (any of the foregoing, a “specified
transaction”), in a currency other than Dollars, (i) the Dollar equivalent amount of a specified transaction in a currency
other than Dollars shall be calculated based on the rate of exchange quoted by the Bloomberg Foreign Exchange Rates & World
Currencies Page (or any successor page thereto, or in the event such rate does not appear on any Bloomberg Page, by reference
to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Borrower)
for such foreign currency, as in effect at 11:00 a.m. (London time) on the date of such specified transaction (which, in the case
of any Restricted Payment, shall be deemed to be the date of the declaration thereof and, in the case of the incurrence of Indebtedness,
shall be deemed to be on the date first committed); provided, that if any Indebtedness is incurred (and, if applicable, associated
Lien granted) to refinance or replace other Indebtedness denominated in a currency other than Dollars, and the relevant refinancing or
replacement would cause the applicable Dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange
rate in effect on the date of such refinancing or replacement, such Dollar-denominated restriction shall be deemed not to have been exceeded
so long as the principal amount of such refinancing or replacement Indebtedness (and, if applicable, associated Lien granted) does not
exceed an amount sufficient to repay the principal amount of such Indebtedness being refinanced or replaced, except by an amount equal
to (x) unpaid accrued interest and premiums (including tender premiums) thereon plus other reasonable and customary fees and expenses
(including upfront fees and original issue discount) incurred in connection with such refinancing or replacement, (y) any existing
commitment unutilized thereunder and (z) any additional amount permitted to be incurred under Section 6.01 and (ii) for
the avoidance of doubt, no Default or Event of Default shall be deemed to have occurred solely as a result of a change in the rate of
currency exchange occurring after the time of any specified transaction so long as such specified transaction was permitted at the time
incurred, made, acquired, committed, entered or declared as set forth in clause (i). For purposes of the calculation of compliance
with any financial ratio for purposes of taking any action hereunder, on any relevant date of determination, amounts denominated in currencies
other than Dollars shall be translated into Dollars at the applicable currency exchange rate used in preparing the financial statements
delivered pursuant to Sections 5.01(a) or (b) (or, prior to the first such delivery, the financial statements
referred to in Section 3.04), as applicable, for the relevant Test Period and will, with respect to any Indebtedness, reflect
the currency translation effects, determined in accordance with GAAP, of any Hedge Agreement permitted hereunder in respect of currency
exchange risks with respect to the applicable currency in effect on the date of determination for the Dollar equivalent amount of such
Indebtedness; provided that the amount of any Indebtedness that is subject to a Debt FX Hedge shall be determined in accordance
with the definition of “Consolidated Total Debt”.

 

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(b)           Each
provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to
time specify with the Borrower’s consent to appropriately reflect a change in currency of any country and any relevant market convention
or practice relating to such change in currency.

 

Section 1.09.          Cashless
Rollovers. Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Document, to the extent that
any Lender extends the maturity date of, or replaces, renews or refinances, any of its then-existing Loans with Incremental Loans, Replacement
Loans, Extended Loans or loans incurred under a new credit facility, in each case, to the extent such extension, replacement, renewal
or refinancing is effected by means of a “cashless roll” by such Lender, such extension, replacement, renewal or refinancing
shall be deemed to comply with any requirement hereunder or any other Loan Document that such payment be made “in Dollars”,
 “in immediately available funds”, “in Cash” or any other similar requirement.

 

Section 1.10.          [Reserved].

 

Section 1.11.          Guarantees
and Collateral. Notwithstanding any provision of any Loan Document to the contrary, until the First Lien Obligations Payment Date,
for purposes of any determination relating to the Collateral (including any determination with respect to any waiver or extension or
any opportunity to request that is permitted or required under the definition of “Collateral and Guarantee Requirement” under
this Agreement or under any other Loan Document) as to which the Administrative Agent is granted discretion hereunder or under any other
Loan Document, the determination of the First Lien Collateral Agent (or the agent for the holders of any applicable First Lien Obligations)
under the analogous provision of the corresponding Loan Document (as defined in the First Lien Credit Agreement (or any equivalent term
under any First Lien Facility) or the documentation governing the other applicable First Lien Obligations) shall be deemed to be the
determination of the Administrative Agent with respect thereto.

 

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Section 1.12.          Certain
Calculations and Tests.

 

(a)            Notwithstanding
anything to the contrary herein, to the extent that the terms of this Agreement require (i) compliance with any financial ratio
or test (including, any First Lien Net Leverage Ratio test, any Secured Net Leverage Ratio test or any Total Net Leverage Ratio
test) and/or any cap expressed as a percentage of Consolidated Adjusted 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 Consolidated Adjusted
EBITDA or Consolidated Total Assets), in each case, a condition to (A) the consummation of any transaction in connection with any
acquisition or similar Investment (including the assumption or incurrence of Indebtedness), (B) the making of any Restricted Payment
and/or (C) the making of any Restricted Debt Payment, the determination of whether the relevant condition is satisfied may be made,
at the election of the Borrower, (1) 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 Test Period at the time of) either (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 or 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 Requirements of Law) or (z) the consummation of such acquisition
or Investment, (2) 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 Test Period at the time
of) (x) the declaration of such Restricted Payment or (y) the making of such Restricted Payment and (3) in the case of
any Restricted Debt 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 Test Period at the time of) (x) delivery of irrevocable
(which may be conditional) notice with respect to such Restricted Debt Payment or (y) the making of such Restricted Debt Payment,
in each case, after giving effect, on a Pro Forma Basis, to (I) the relevant acquisition, Investment, Restricted Payment, Restricted
Debt Payment and/or any related 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 Restricted
Debt Payment has been given (which definitive documents, declaration or notice has not terminated or expired without the consummation
thereof), any other Subject Transaction that the Borrower has elected to treat in accordance with this clause (a).

 

(b)           For
purposes of determining the permissibility of any action, change, transaction or event that requires a calculation of any financial ratio
or test (including, without limitation, any First Lien Net Leverage Ratio test, any Secured Net Leverage Ratio test or any Total Net
Leverage Ratio test and/or the amount of Consolidated Adjusted EBITDA or Consolidated Total Assets), such financial ratio or test shall
be calculated at the time such action is taken (subject to clause (a) above), such change is made, such transaction is consummated
or such event occurs, as the case may be, and no Default or Event of Default shall be deemed to have occurred solely as a result of a
change in such financial ratio or test or amount occurring after such calculation, or after the time such action is taken, such change
is made, such transaction is consummated or such event occurs, as the case may be.

 

(c)            Notwithstanding
anything to the contrary herein, with respect to any amount incurred or transaction entered into (or consummated) in reliance on a provision
of this Agreement (including Section 6.01(x), as it relates to the incurrence of any “fixed” or similar amount
available under any First Lien Facility) that does not require compliance with a financial ratio or test (including, without limitation,
any First Lien Net Leverage Ratio test, any Secured Net Leverage Ratio test and/or any Total Net Leverage Ratio test) (any such amount,
including any such amount drawn or deemed to have been drawn under any revolving credit facility and, for the avoidance of doubt, any
amount that is expressed as a percentage of Consolidated Adjusted EBITDA or Consolidated Total Assets, a “Fixed Amount”)
substantially concurrently with any amount incurred or transaction entered into (or consummated) in reliance on a provision of this Agreement
(including Section 6.01(x), as it relates to the incurrence of any “incurrence-based” or similar amount available
under any First Lien Facility) that requires compliance with a financial ratio or test (including, without limitation, any First Lien
Net Leverage Ratio test, any Secured Net Leverage Ratio test and/or any Total Net Leverage Ratio test) (any such amount, an “Incurrence-Based
Amount”), it is understood and agreed that (i) any Fixed Amount shall be disregarded in the calculation of the financial
ratio or test applicable to the relevant Incurrence-Based Amount and (ii) except as provided in clause (i), pro forma effect
shall be given to the entire transaction. The Borrower may elect that any amount incurred or transaction entered into (or consummated)
in reliance on one or more of any Incurrence-Based Amount or any Fixed Amount in its sole discretion; provided, that unless the
Borrower elects otherwise and except as set forth in the definition of “Incremental Cap”, each such amount or transaction
shall be deemed incurred, entered into or consummated first under any Incurrence-Based Amount to the maximum extent permitted thereunder.

 

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(d)           The
principal amount of any non-interest bearing Indebtedness or other discount security constituting Indebtedness at any date shall be the
principal amount thereof that would be shown on a balance sheet of the Borrower dated such date prepared in accordance with GAAP.

 

(e)            The
increase in any amount secured by any Lien by virtue of the accrual of interest, the accretion of accreted value, the payment of interest
or a dividend in the form of additional Indebtedness, amortization of original issue discount and/or any increase in the amount of Indebtedness
outstanding solely as a result of any fluctuation in the exchange rate of any applicable currency will not be deemed to be the granting
of a Lien for purposes of Section 6.02.

 

(f)            With
respect to any pro forma calculation that is required to be made in connection with any acquisition or similar Investment in respect
of which financial statements for the applicable target are not available for the same Test Period for which financial statements of
the Borrower are available, the Borrower shall make the relevant calculation on the basis of the relevant available financial statements
(even if for differing periods) or such other commercially reasonable basis as the Borrower may elect.

 

(g)           In
connection with the implementation or assumption of any revolving commitment and/or any delayed draw commitment in reliance on any Incurrence-Based
Amount, the Borrower may, in its sole discretion either (a) elect, by written notice to the Administrative Agent (a “Specified
Commitment Notice”), to treat all or any portion of such revolving commitment and/or delayed draw commitment as having been
fully drawn on the date of implementation or assumption (such commitment (or portion thereof), a “Specified Commitment”),
in which case (i) the Borrower shall not be required to comply with any financial ratio or test in connection with any drawing thereunder
after the date of incurrence or assumption and (ii) the amount of such Specified Commitment shall be deemed to have been an actual
incurrence of Indebtedness thereunder on the date of implementation or assumption for purposes of calculating any Incurrence-Based Amount
or (b) elect to test the permissibility of all or any portion of any drawing under such revolving commitment and/or delayed draw
commitment on the date of such drawing (if any), in which case, such revolving commitment and/or delayed draw commitment (or portion thereof)
shall only be treated as drawn for purposes of any Incurrence-Based Amount to the extent of any actual drawing thereunder that is outstanding
at the applicable time of determination. It is understood and agreed that the Borrower may, at any time in its sole discretion, (x) deliver
a Specified Commitment Notice with respect to any revolving commitment and/or delayed draw commitment and/or (y) withdraw any Specified
Commitment Notice with respect to all or any portion of any revolving commitment and/or delayed draw commitment and instead elect to treat
such revolving commitment and/or delayed draw commitment in accordance with clause (b) of the immediately preceding sentence.

 

(h)           Any
determination of the Weighted Average Life to Maturity of any Indebtedness shall be made by the Borrower in good faith at the time of
the incurrence of such Indebtedness.

 

(i)             It
is understood and agreed that the Borrower and/or any Restricted Subsidiary may incur Indebtedness permitted under any provision of Section 6.01
to refinance Indebtedness originally incurred under the same provision of Section 6.01 while the Indebtedness being refinanced
remains outstanding so long as the proceeds of the applicable refinancing Indebtedness are promptly deposited with the trustee or other
applicable representative of the holders of the Indebtedness being refinanced, which proceeds will be applied to satisfy and discharge
the Indebtedness being refinanced in accordance with the documentation governing such Indebtedness.

 

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Section 1.13.          Effect
of Benchmark Transition Event.

 

(a)            Benchmark
Replacement. Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a Benchmark Transition
Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Borrower may amend this Agreement to replace the Published
LIBO Rate (for Loans denominated in Dollars) with a Benchmark Replacement. Any such amendment will become effective at 5:00 p.m. on
the fifth Business Day after the Administrative Agent has provided such proposed amendment to the Lenders and the Borrower, so long as
the Administrative Agent has not received, by such time, written notice of objection to such amendment from the Lenders constituting
the Required Lenders. No replacement of the Published LIBO Rate with a Benchmark Replacement pursuant to this Section 1.13
will occur prior to the applicable Benchmark Transition Start Date.

 

(b)           Benchmark
Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, the Administrative 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 hereto, other than the consent of the Borrower in accordance with the definition of “Benchmark
Replacement Conforming Changes”.

 

(c)            Notices;
Standards for Decisions and Determinations. The Administrative Agent will promptly notify the Borrower of (i) any occurrence
of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date and Benchmark
Transition Start Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement
Conforming Changes and (iv) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or
election that may be made by the Administrative Agent pursuant to this Section 1.13 including any determination with respect
to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain
from taking any action, will be conclusive and binding absent manifest error and may be made in the Administrative Agent’s sole
discretion and without consent from the Borrower, except, in each case, as expressly required pursuant to this Section 1.13.

 

(d)           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 LIBO Rate Borrowing of, conversion to or continuation of LIBO Rate 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 ABR Loans. During any Benchmark Unavailability Period, the component of Alternate
Base Rate based upon the Published LIBO Rate will not be used in any determination of the Alternate Base Rate.

 

Section 1.14.          [Reserved].

 

Section 1.15.          Certain
Determinations.

 

(a)            For
the avoidance of doubt, in connection with any incurrence of Indebtedness under Section 2.22, “Required Lenders”
shall be calculated on a Pro Forma Basis in accordance with Section 1.04, Section 2.22 and the definition of
 “Incremental Cap”; provided that any waiver, amendment or modification obtained on such basis (i) will become
operative substantially contemporaneously with the incurrence of such Indebtedness and (ii) shall not affect the rights or duties
under this Agreement of any Lender holding any Loan and/or Commitment under any then-outstanding Class in a manner that does not
affect the rights or duties of the Lenders in respect of the Indebtedness incurred in reliance on Section 2.22 in connection
with the relevant amendment.

 

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(b)           It
is understood and agreed that (i) with respect to any Default or Event of Default, the words “exists,” “is continuing”
or any similar expression with respect thereto shall mean that the Default or Event of Default has occurred and has not yet been cured
or waived; (ii) if any Default or Event of Default occurs due to (A) the failure by the Borrower and/or any Restricted Subsidiary
to take any action by a specified time, such Default or Event of Default shall be deemed to have been cured at the time, if any, that
the applicable Person takes such action or (B) the taking of any action by the Borrower and/or any Restricted Subsidiary that is
not then permitted by the terms of this Agreement or any other Loan Document, such Default or Event of Default shall be deemed to be
cured on the earlier to occur of (1) the date on which such action would be permitted at such time to be taken under this Agreement
and (2) the date on which such action is unwound or modified to the extent necessary so that the modified action is permitted by
this Agreement or the other relevant Loan Document; and (iii) if any Default or Event of Default occurs that is subsequently cured
(a “Cured Default”), any other Default or Event of Default resulting from the making or deemed making of any representation
or warranty by any Loan Party or the taking of any action by any Loan Party or any subsidiary of any Loan Party, in each case which subsequent
Default or Event of Default would not have arisen had the Cured Default not occurred, shall be deemed to be cured automatically upon,
and simultaneously with, the cure of the Cured Default, but only to the extent that a Responsible Officer of the Borrower was not aware
of the existence of the Cured Default that caused the relevant subsequent Default or Event of Default to arise at the time of the making
or deemed making of the relevant representation and warranty or the taking of the relevant action.

 

(i)             Notwithstanding
anything to the contrary in the Section 1.15(b), an Event of Default (the “Initial Default”) may not be
cured pursuant to Section 1.15(b)(ii):

 

(A)           if
the taking of any action by any Loan Party or Subsidiary of a Loan Party that is not permitted during, and as a result of, the continuance
of such Initial Default directly results in the cure of such Initial Default and a Responsible Officer of the Borrower had actual knowledge
at the time of taking any such action that the Initial Default had occurred and was continuing;

 

(B)           if
such Event of Default arises under Section 7.01(f) or (g);

 

(C)           if
such Event of Default arises under, Section 7.01(e) (solely with respect to non-compliance with Section 5.11
(other than as the result of a use of proceeds for a transaction prohibited by any other provision of the Loan Documents)); or

 

(D)           if
such Event of Default arises under, Section 7.01(j) or (k) and such Event of Default directly results in
a material impairment of the rights and remedies of the Lenders and the Administrative Agent under the Loan Documents that is incapable
of being cured.

 

(c)           With
respect to any determination under the terms of this Agreement that is vested in the Borrower, the Borrower shall have a right, in its
sole discretion (but not any obligation), to deliver notice of such determination to the Administrative Agent, together with a reasonably
detailed description thereof, which notice shall be conclusive evidence that such determination satisfied the applicable standard under
this Agreement or the relevant other Loan Document unless, within five Business Days following receipt of notice of such determination
(and the related description) from the Borrower, the Required Lenders deliver a written objection to such determination to the Borrower,
which written objection states, with specificity, the basis upon which the Required Lenders object to such determination.

 

(d)           [Reserved].

 

(e)           With
respect to determination of the permissibility of any transaction by Holdings, the Borrower and/or any subsidiary under this Agreement,
(i) the delivery by the Borrower of a third party valuation report from (A) a nationally recognized accounting, appraisal,
investment banking or consulting firm or (B) another firm reasonably acceptable to the Administrative Agent, in each case, shall
be conclusive with respect to the value of the assets covered thereby and (ii) any determination of whether an action is taken “in
the ordinary course of business” or “in a manner consistent with past practice” (or, in either case, any similar expression)
shall be made by the Borrower in good faith.

 

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(f)            It
is understood and agreed for the avoidance of doubt that the carve-outs from the provisions of Section 5.16 and/or Article 6
may include items or activities that are not restricted by the relevant provision.

 

Section 1.16.          Conflicts.
Notwithstanding anything to the contrary contained herein or in any other Loan Document, in the event of any conflict or inconsistency
between any term or provision of this Agreement (excluding the Exhibits hereto) and any term or provision of any Exhibit to this
Agreement, the term or provision of this Agreement shall govern, and the Borrower shall be entitled to make such revisions to the relevant
term or provision of the applicable Exhibit to ensure that such term or provision is consistent with the corresponding term or provision
of this Agreement.

 

ARTICLE 2

 

THE CREDITS

 

Section 2.01.          Commitments.

 

(a)            Subject
to the terms and conditions set forth herein, each Initial Lender severally, and not jointly, agrees to make term loans (the “Initial
Loans”) to the Borrower on the Closing Date in Dollars in a principal amount not to exceed its Initial Loan Commitment. Amounts
paid or prepaid in respect of the Initial Loans may not be reborrowed.

 

(b)           Subject
to the terms and conditions of this Agreement and any applicable Refinancing Amendment, Extension Amendment, or Incremental Facility
Amendment, each Lender with an Additional Commitment of a given Class, severally and not jointly, agrees to make Additional Loans of
such Class to the Borrower, which Loans shall not exceed for any such Lender at the time of any incurrence thereof the Additional
Commitment of such Class of such Lender as set forth in the applicable Refinancing Amendment, Extension Amendment or Incremental
Facility Amendment.

 

Section 2.02.          Loans
and Borrowings.

 

(a)            Each
Loan shall be made as part of a Borrowing consisting of Loans of the same Class and Type made by the Lenders ratably in accordance
with their respective Commitments of the applicable Class.

 

(b)           Subject
to Section 2.14, each Borrowing shall be comprised entirely of ABR Loans or LIBO Rate Loans as the Borrower may request in
accordance herewith. Each Lender at its option may make any LIBO Rate Loan by causing any domestic or foreign branch or Affiliate of
such Lender to make such Loan; provided that (i) any exercise of such option shall not affect the obligation of the Borrower
to repay such Loan in accordance with the terms of this Agreement, (ii) such LIBO Rate Loan shall be deemed to have been made and
held by such Lender, and the obligation of the Borrower to repay such LIBO Rate Loan shall nevertheless be to such Lender for the account
of such domestic or foreign branch or Affiliate of such Lender and (iii) in exercising such option, such Lender shall use reasonable
efforts to minimize increased costs to the Borrower resulting therefrom (which obligation of such Lender shall not require it to take,
or refrain from taking, actions that it determines would result in increased costs for which it will not be compensated hereunder or
that it otherwise determines would be disadvantageous to it and in the event of such request for costs for which compensation is provided
under this Agreement, the provisions of Section 2.15 shall apply); provided, further, that no such domestic
or foreign branch or Affiliate of such Lender shall be entitled to any greater indemnification under Section 2.17 in respect
of any US federal withholding tax with respect to such LIBO Rate Loan than that to which the applicable Lender was entitled on the date
on which such Loan was made (except in connection with any indemnification entitlement arising as a result of any Change in Law after
the date on which such Loan was made).

 

(c)           At
the commencement of each Interest Period for any LIBO Rate Borrowing, such LIBO Rate Borrowing shall comprise an aggregate principal
amount that is an integral multiple of $50,000 and not less than $250,000. Each ABR Borrowing when made shall be in a minimum principal
amount of $50,000 and in an integral multiple of $50,000. Borrowings of more than one Type and Class may be outstanding at the same
time; provided that there shall not at any time be more than a total of 15 different Interest Periods in effect for LIBO Rate
Borrowings at any time outstanding (or such greater number of different Interest Periods as the Administrative Agent may agree from time
to time).

 

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(d)           Notwithstanding
any other provision of this Agreement, the Borrower shall not, nor shall it be entitled to, request, or to elect to convert or continue,
any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date applicable to the relevant Loans.

 

Section 2.03.          Requests
for Borrowings. Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of LIBO Rate Loans shall
be made upon irrevocable notice by the Borrower to the Administrative Agent, which may be given by a Borrowing Request or an Interest
Election Request, as applicable (provided that any notice in respect of any Borrowing (x) to be made on the Closing Date
may be conditioned on the occurrence of the Closing Date, (y) to be made in connection with any acquisition, investment or repayment
or redemption of Indebtedness may be conditioned on the closing of such Permitted Acquisition, permitted Investment or permitted repayment
or redemption of Indebtedness or (z) for any other purpose to which the Administrative Agent may consent (such consent not to be
unreasonably withheld or delayed), may be conditioned on the occurrence of the relevant event). Each such notice must be in the form
of a Borrowing Request or an Interest Election Request, as applicable, appropriately completed and signed by a Responsible Officer of
the Borrower and must be received by the Administrative Agent (by hand delivery or other electronic transmission (including “.pdf”
or “.tif”)) not later than (i) 1:00 p.m. three Business Days prior to the requested day of any Borrowing of, conversion
to or continuation of LIBO Rate Loans (or one Business Day in the case of any Borrowing of LIBO Rate Loans to be made on the Closing
Date) and (ii) 10:00 a.m. one Business Day prior to the requested date of any Borrowing of or conversion to ABR Loans (or,
in each case, such later time as is reasonably acceptable to the Administrative Agent); provided, however, that if the
Borrower wishes to request LIBO Rate Loans having an Interest Period other than one, three or six months (or, to the extent available
to all relevant affected Lenders, 12 months) in duration or such shorter period as provided in the definition of “Interest Period”,
(A) the applicable notice from the Borrower must be received by the Administrative Agent not later than 1:00 p.m. four Business
Days prior to the requested date of the relevant Borrowing, conversion or continuation (or such later time as is reasonably acceptable
to the Administrative Agent), whereupon the Administrative Agent shall give prompt notice to the appropriate Lenders of such request,
(B) the relevant requested Interest Period shall be deemed to be available to each appropriate Lender unless such Lender has delivered
written notice to the Administrative Agent indicating that such Interest Period is not available to such Lender within one Business Day
following the date on which the notice described in clause (A) above is posted by the Administrative Agent and (C) not
later than 12:00 p.m. three Business Days before the requested date of the relevant Borrowing, conversion or continuation, the Administrative
Agent shall notify the Borrower whether or not the requested Interest Period is available to the appropriate Lenders.

 

If no election as to the Type
of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to
any requested LIBO Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
The Administrative Agent shall advise each Lender of the details and amount of any Loan to be made as part of the relevant requested Borrowing
(x) in the case of any ABR Borrowing, on the same Business Day of receipt of a Borrowing Request in accordance with this Section or
(y) in the case of any LIBO Rate Borrowing, no later than one Business Day following receipt of a Borrowing Request in accordance
with this Section.

 

Section 2.04.          [Reserved]

 

Section 2.05.          [Reserved].

 

Section 2.06.          [Reserved].

 

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Section 2.07.          Funding
of Borrowings.

 

(a)            Each
Lender shall make each Loan to be made by it hereunder not later than 11:00 a.m. on the Business Day specified in the applicable
Borrowing Request by wire transfer of immediately available funds to the account of the Administrative Agent most recently designated
by it for such purpose by notice to the Lenders in an amount equal to such Lender’s respective Applicable Percentage. The Administrative
Agent will make such Loans (to the extent of the funds received by the Administrative Agent) available to the Borrower by promptly crediting
the amounts so received on the same Business Day, in like funds, to the account designated in the relevant Borrowing Request or as otherwise
directed by the Borrower.

 

(b)           Unless
the Administrative Agent has received notice from any Lender that such Lender will not make available to the Administrative Agent such
Lender’s share of any Borrowing prior to the proposed date of such Borrowing, the Administrative Agent may assume that such Lender
has made such share available on such date in accordance with paragraph (a) of this Section and may, in reliance upon
such assumption, make available to the Borrower a corresponding amount. In such event, if any Lender has not in fact made its share of
the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to
the Administrative Agent forthwith on demand (without duplication) such corresponding amount with interest thereon, for each day from
and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent,
at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent
in accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest rate
applicable to Loans comprising such Borrowing at such time. If such Lender pays such amount to the Administrative Agent, then such amount
shall constitute such Lender’s Loan included in such Borrowing and the obligation of the Borrower to repay the Administrative Agent
such corresponding amount pursuant to this Section 2.07(b) shall cease. If the Borrower pays such amount to the Administrative
Agent, the amount so paid shall constitute a repayment of such Borrowing by such amount. Nothing herein shall be deemed to relieve any
Lender from its obligation to fulfill its Commitment or to prejudice any rights which the Administrative Agent or the Borrower or any
other Loan Party may have against any Lender as a result of any default by such Lender hereunder.

 

Section 2.08.          Type;
Interest Elections.

 

(a)            Each
Borrowing shall initially be of the Type specified in the applicable Borrowing Request and, in the case of any LIBO Rate Borrowing, shall
have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert any Borrowing to
a Borrowing of a different Type or to continue such Borrowing and, in the case of a LIBO Rate Borrowing, may elect Interest Periods therefor,
all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing,
in which case each such portion shall be allocated ratably among the Lenders based upon their Applicable Percentages and the Loans comprising
each such portion shall be considered a separate Borrowing.

 

(b)           To
make an election pursuant to this Section, the Borrower shall deliver an Interest Election Request, appropriately completed and signed
by a Responsible Officer of the Borrower, to the Administrative Agent in accordance with Section 2.03. If any such Interest
Election Request requests a LIBO Rate Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected
an Interest Period of one month’s duration.

 

(c)            Promptly
following receipt of an Interest Election Request, the Administrative Agent shall advise each applicable Lender of the details thereof
and of such Lender’s portion of each resulting Borrowing.

 

(d)            If
the Borrower fails to deliver (or cause to be delivered) a timely Interest Election Request with respect to a LIBO Rate Borrowing prior
to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, such Borrowing shall be
converted at the end of such Interest Period to an ABR Borrowing.

 

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(e)            It
is understood and agreed that only a Borrowing denominated in Dollars may be made in the form of, or converted into, an ABR Loan.

 

Section 2.09.          Termination
and Reduction of Commitments. Unless previously terminated, (i) the Initial Commitments on the Closing Date shall automatically
terminate upon the making of the Initial Loans on the Closing Date and (ii) the Additional Commitments of any Class shall automatically
terminate upon the making of the Additional Loans of such Class and, if any such Additional Commitment is not drawn on the date
that such Additional Commitment is required to be drawn pursuant to the applicable Refinancing Amendment, Extension Amendment or Incremental
Facility Amendment, the undrawn amount thereof shall automatically terminate.

 

Section 2.10.          Repayment
of Loans; Evidence of Debt.

 

(a)            (i)            The
Borrower hereby unconditionally promises to repay the outstanding principal amount of the Initial Loans to the Administrative Agent for
the account of each Lender on the Initial Maturity Date, in an amount equal to the remainder of the principal amount of the Initial Loans
outstanding on such date, together, in each case, with accrued and unpaid interest on the principal amount to be paid to but excluding
the date of such payment.

 

(ii)            The
Borrower shall repay the Additional Loans of any Class in such scheduled amortization installments and on such date or dates as
shall be specified therefor in the applicable Refinancing Amendment, Incremental Facility Amendment or Extension Amendment (as such
payments may be reduced from time to time as a result of the application of prepayments in accordance with Section 2.11 or
repurchases in accordance with Section 9.05(g) or increased as a result of any increase in the amount of such Additional
Loans of such Class pursuant to Section 2.22(a)).

 

(b)           [Reserved].

 

(c)            Each
Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such
Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender
from time to time hereunder.

 

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

 

(e)            The
entries made in the accounts maintained pursuant to paragraphs (c) or (d) of this Section shall be prima
facie evidence of the existence and amounts of the obligations recorded therein (absent manifest error); provided that (i) the
failure of any Lender or the Administrative Agent to maintain such accounts or any manifest error therein shall not in any manner affect
the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement, (ii) in the event of any inconsistency
between the accounts maintained by the Administrative Agent pursuant to paragraph (d) of this Section and any Lender’s
records, the accounts of the Administrative Agent shall govern and (iii) in the event of any inconsistency between the Register
and any other accounts maintained by the Administrative Agent, the Register shall govern absent manifest error.

 

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(f)            Any
Lender may request that any Loan made by it be evidenced by a Promissory Note. In such event, the Borrower shall prepare, execute and
deliver a Promissory Note to such Lender payable to such Lender and its registered permitted assigns; it being understood and agreed
that such Lender (and/or its applicable permitted assign) shall be required to return such Promissory Note to the Borrower in accordance
with Section 9.05(b)(iii) and upon the occurrence of the Termination Date (or as promptly thereafter as practicable).
If any Lender loses the original copy of its Promissory Note, it shall execute an affidavit of loss containing an indemnification provision
that is reasonably satisfactory to the Borrower. The obligation of each Lender to execute and deliver an affidavit of loss containing
an indemnification provision that is reasonably satisfactory to the Borrower shall survive the Termination Date.

 

Section 2.11.          Prepayment
of Loans.

 

(a)            Optional
Prepayments.

 

(i)             Upon
prior notice in accordance with paragraph (a)(iii) of this Section, the Borrower shall have the right at any time and from
time to time to prepay any Borrowing of Loans of one or more Classes (such Class or Classes to be selected by the Borrower in its
sole discretion) in whole or in part without premium or penalty (but subject if applicable, to Section 2.16). Each such prepayment
shall be paid to the Lenders in accordance with their respective Applicable Percentages of the relevant Class.

 

(ii)            [Reserved].

 

(iii)           The
Borrower shall notify the Administrative Agent in writing of any prepayment under this Section 2.11(a) (i) in the
case of any prepayment of a LIBO Rate Borrowing, not later than 1:00 p.m. three Business Days before the date of prepayment or (ii) in
the case of any prepayment of an ABR Borrowing, not later than 11:00 a.m., one Business Day before the date of prepayment. Each such
notice shall be irrevocable (except as set forth in the proviso to this sentence) and shall specify the prepayment date and the principal
amount of each Borrowing or portion or each relevant Class to be prepaid; provided that any notice of prepayment delivered
by the Borrower may be conditioned upon the effectiveness of other transactions, in which case such notice may be revoked by the Borrower
(by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Promptly following
receipt of any such notice relating to any Borrowing, the Administrative Agent shall advise the applicable Lenders of the contents thereof.
Each partial prepayment of any Borrowing shall be in an amount at least equal to the amount that would be permitted in the case of a
Borrowing of the same Type and Class as provided in Section 2.02(c), or such lesser amount that is then outstanding
with respect to such Borrowing being repaid (and in increments of $100,000 in excess thereof or such lesser incremental amount that is
then outstanding with respect to such Borrowing being repaid). Each prepayment of Loans shall be applied to the Class or Classes
of Loans specified in the applicable prepayment notice.

 

(b)           Mandatory
Prepayments.

 

(i)             [Reserved];

 

(ii)            Subject
to Section 2.11(b)(vii), no later than the fifth Business Day following the receipt of Net Proceeds in respect of any Prepayment
Asset Sale or Net Insurance/Condemnation Proceeds, in each case, in excess of the greater of $30,000,000 and 20% of Consolidated Adjusted
EBITDA as of the last day of the most recently ended Test Period (the “De Minimis Proceeds Threshold”) in any Fiscal
Year (any such Net Proceeds and/or Net Insurance/Condemnation Proceeds received in an amount in any Fiscal Year not in excess of the
De Minimis Proceeds Threshold, “De Minimis Proceeds”), the Borrower shall apply (or cause to be applied) an amount
equal to 100% of the Net Proceeds or Net Insurance/Condemnation Proceeds received with respect thereto in excess of the De Minimis Proceeds
Threshold (collectively, the “Subject Proceeds”) to prepay the outstanding principal amount of, and accrued interest
on, the Loans then subject to ratable prepayment requirements (the “Subject Loans”) in accordance with clause (vi) below;
provided, that

 

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(A)          it
is understood that (1) only the amount in excess of the De Minimis Proceeds Threshold shall be required to be applied to make a
prepayment in accordance with this Section 2.11(b)(ii) and (2) if the amount of any prepayment that would have
been required pursuant to this Section 2.11(b)(ii) (without giving effect to the De Minimis Proceeds Threshold) for
any Fiscal Year is less than the De Minimis Proceeds Threshold for such Fiscal Year, an amount equal to (x) the De Minimis Proceeds
Threshold for such Fiscal Year minus (y) the amount of the prepayment that would have been required but for the De Minimis
Proceeds Threshold pursuant to this Section 2.11(b)(ii) for such Fiscal Year shall be applied to increase the De Minimis
Proceeds Threshold in succeeding Fiscal Years;

 

(B)           other
than with respect to the Net Proceeds of any Disposition consummated in reliance on Section 6.07(h)(i)(II), if prior to the
date on which any such prepayment is required to be made, the Borrower notifies the Administrative Agent of its intention to reinvest
the applicable Subject Proceeds in the business of the Borrower and/or any subsidiary (other than an investment in Cash or Cash Equivalents),
then the Borrower shall not be required to make a mandatory prepayment under this clause (ii) in respect of the applicable
Subject Proceeds to the extent (1) the applicable Subject Proceeds are so reinvested within 18 months following receipt thereof,
or (2) the Borrower or any subsidiary has committed to so reinvest the applicable Subject Proceeds during such 18 month period and
the applicable Subject Proceeds are so reinvested within six months after the expiration of such 18 month period or (3) the Borrower
or any subsidiary has committed to so reinvest the applicable Subject Proceeds during such 18 month period and such commitment is terminated
and a new commitment is made within the six months after the expiration of such 18 month period and the application Proceeds are so reinvested
within three months after the expiration of such 24 month period; it being understood that (x) if the applicable Subject Proceeds
have not been so reinvested prior to the expiration of the applicable period, the Borrowers shall promptly prepay the Subject Loans with
the amount of applicable Subject Proceeds not so reinvested as set forth above (without regard to the immediately preceding proviso)
and (y) any Investment by the Borrower or its applicable subsidiaries (up to an amount equal to the amount of the applicable Subject
Proceeds) after the earlier to occur of (i) the date on which the definitive agreement for the applicable Disposition was executed
and (ii) the date on which the Borrower delivers notice to the Administrative Agent of a pending Disposition (but prior to the date
on which the Borrower and/or any subsidiary receives the Net Proceeds in respect of any Prepayment Asset Sale or Net Insurance Condemnation
Proceeds) may, at the election of the Borrower, be deemed to constitute a reinvestment of the applicable Subject Proceeds in compliance
with, and in satisfaction of the obligations under, this clause (B)); and

 

(C)           if,
at the time that any such prepayment would be required hereunder, the Borrower or any of its Restricted Subsidiaries is required to repay
or repurchase any Second Lien Debt of the type described in clause (b) of the definition thereof (such Indebtedness required
to be so prepaid or offered to be so repurchased, “Other Applicable Indebtedness”) (or offer to repurchase such Other
Applicable Indebtedness), then the relevant Person may apply the Subject Proceeds on a pro rata basis to the prepayment of the Subject
Loans and to the repurchase or repayment of the Other Applicable Indebtedness (determined on the basis of the aggregate outstanding principal
amount of the Subject Loans and the Other Applicable Indebtedness (or accreted amount if such Other Applicable Indebtedness is issued
with original issue discount) at such time); it being understood that (1) the portion of the Subject Proceeds allocated to the Other
Applicable Indebtedness shall not exceed the amount of the Subject Proceeds that is required to be allocated to the Other Applicable
Indebtedness pursuant to the terms thereof, (and the remaining amount, if any, of the Subject Proceeds shall be allocated to the Subject
Loans in accordance with the terms hereof), and the amount of the prepayment of the Subject Loans that would have otherwise been required
pursuant to this Section 2.11(b)(ii) shall be reduced accordingly and (2) to the extent the holders of the Other
Applicable Indebtedness decline to have such Indebtedness prepaid or repurchased, the declined amount shall promptly (and in any event
within 10 Business Days after the date of such rejection) be applied to prepay the Subject Loans in accordance with the terms hereof
and any other relevant Other Applicable Indebtedness with a corresponding requirement on a pro rata basis (determined in a manner consistent
with that set forth in this clause (C); it being understood and agreed that if any Lender or holder of such Other Applicable Indebtedness
declines any prepayment contemplated by clause (2) above, the Borrower shall not be required to subsequently offer the amount
of the relevant declined prepayment to any Lender or any holder of Other Applicable Indebtedness.

 

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(iii)           Subject
to Section 2.11(b)(vii), in the event that the Borrower or any of its Restricted Subsidiaries receives Net Proceeds from
the issuance or incurrence of Indebtedness by the Borrower or any of its Restricted Subsidiaries (other than Indebtedness that is permitted
to be incurred under Section 6.01, except to the extent the relevant Indebtedness constitutes (A) Refinancing Indebtedness
(including Replacement Debt) incurred to refinance all or a portion of any Class of Loans pursuant to Section 6.01(p),
(B) Incremental Loans incurred in reliance on clause (b) of the definition of “Incremental Cap” to refinance
all or a portion of any Class of Loans pursuant to Section 2.22, (C) Replacement Loans incurred to refinance all
or any portion of any Class of Loans in accordance with the requirements of Section 9.02(c) and/or (D) Incremental
Equivalent Debt incurred in reliance on clause (b) of the definition of “Incremental Cap”, to refinance all or
a portion of the Loans in accordance with the requirements of the definition thereof, in each case to the extent required by the terms
thereof to prepay or offer to prepay such Indebtedness), the Borrower shall, promptly upon (and in any event not later than two Business
Days thereafter) the receipt of such Net Proceeds by the Borrower or its applicable Restricted Subsidiary, apply (or cause to be applied)
an amount equal to 100% of such Net Proceeds to prepay the outstanding principal amount of the relevant Class or Classes of Loans
in accordance with clause (vi) below.

 

(iv)          Notwithstanding
anything in this Section 2.11(b):

 

(A)          the
Borrower shall not be required to prepay (or cause to be prepaid) any amount that would otherwise be required to be paid pursuant to
Section 2.11(b)(ii) above to the extent that the relevant Prepayment Asset Sale is consummated by any Foreign Subsidiary
or any Domestic Subsidiary of any Foreign Subsidiary (any such Person, a “Specified Subsidiary”) or the relevant Net
Insurance/Condemnation Proceeds are received by any Specified Subsidiary, as the case may be, for so long as the repatriation and/or
other transfer to the Borrower of any such amount would be, in the good faith determination of the Borrower, prohibited, restricted or
delayed under any Requirement of Law (including for the avoidance of doubt, any Requirement of Law relating to financial assistance,
corporate benefit, thin capitalization, capital maintenance and similar legal principles, restrictions on “upstreaming” and/or
 “cross-streaming” of Cash intra-group and Requirements of Law relating to the fiduciary and/or statutory duties of the directors
(or equivalent Persons) of the Borrower and/or any of its Restricted Subsidiaries) or would conflict with the fiduciary and/or statutory
duties of such Specified Subsidiary’s directors (or equivalent Persons), 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 Specified Subsidiary (it being agreed that, if the repatriation and/or other transfer of the relevant Subject Proceeds is
permitted under the applicable Requirement of Law and, to the extent applicable, would no longer conflict with the fiduciary and/or statutory
duties of such director, or result in, or be reasonably expected to result in, a material risk of personal or criminal liability for
the Persons described above within 365 days following the event giving rise to the relevant Subject Proceeds, the relevant Specified
Subsidiary will promptly repatriate and/or transfer the relevant Subject Proceeds and the repatriated or transferred Subject Proceeds,
as the case may be, will be promptly (and in any event not later than five Business Days after such repatriation) applied (net of additional
Taxes payable) to the repayment of the Term Loans pursuant to this Section 2.11(b) to the extent required herein (without
regard to this clause (iv)));

 

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(B)           the
Borrower shall not be required to prepay (or cause to be prepaid) any amount that would otherwise be required to be paid pursuant to
Section 2.11(b)(ii) to the extent that the relevant Subject Proceeds are received by any joint venture for so long as
the distribution and/or other transfer to the Borrower of such Subject Proceeds would, in the good faith determination of the Borrower,
be prohibited under the Organizational Documents (or any relevant shareholders’ or similar agreement) governing such joint venture;

 

(C)           the
Borrower shall not be required to prepay any amount that would otherwise be required to be paid pursuant to Section 2.11(b)(ii) to
the extent that the relevant Subject Proceeds are received by any Foreign Subsidiary that is not a Loan Party for so long as the Borrower
determines in good faith that the distribution to the Borrower of such Subject Proceeds would be prohibited under an agreement permitted
pursuant to Section 6.05 by which such Foreign Subsidiary is bound governing any Indebtedness; and

 

(D)           if
the Borrower determines in good faith that the repatriation (or other intercompany distribution or transfer) to the Borrower, directly
or indirectly, from a Specified Subsidiary as a distribution or dividend (or other intercompany transfer) of any amount required to mandatorily
prepay the Loans pursuant to Section 2.11(b)(ii) above would reasonably be expected to result in a material and adverse
Tax liability (including any withholding Tax) being incurred by Holdings, the Borrower and/or any Restricted Subsidiary as determined
by the Borrower in good faith (such amount, a “Restricted Amount”), the amount that the Borrower shall be required
to mandatorily prepay pursuant to Section 2.11(b)(ii) above shall be reduced by the Restricted Amount; provided
that to the extent that the repatriation (or other intercompany distribution or transfer) of the relevant Subject Proceeds, directly
or indirectly, from the relevant Specified Subsidiary would no longer be reasonably expected to have a material and adverse Tax liability
within the 365-day period following the event giving rise to the relevant Subject Proceeds an amount equal to the Subject Proceeds and
to the extent available, not previously applied pursuant to this clause (D), shall be promptly applied to the repayment of the
Term Loans pursuant to Section 2.11(b) as otherwise required above

 

(v)           The
Borrower shall notify the Administrative Agent in writing of any prepayment under this Section 2.11(b) not later than
1:00 p.m. two Business Days before the date of prepayment. Any Lender may elect, by written notice to the Administrative Agent not
later than 3:00 p.m. one Business Day prior to the time and in the manner specified by the Administrative Agent, prior to any prepayment
of Loans required to be made by the Borrower pursuant to this Section 2.11(b), to decline all (but not a portion) of its
Applicable Percentage of such prepayment (such declined amounts, the “Declined Proceeds”) in which case such Declined
Proceeds may be retained by the Borrower. For the avoidance of doubt, no Lender may reject any prepayment made under Section 2.11(b)(iii) above
to the extent that such prepayment is made with the Net Proceeds of (1) Refinancing Indebtedness (including Replacement Debt) incurred
to refinance all or a portion of the Loans pursuant to Section 6.01(p), (2) Incremental Loans incurred to refinance
all or a portion of the Loans pursuant to Section 2.22, (3) Replacement Loans incurred to refinance all or any portion
of the Loans in accordance with the requirements of Section 9.02(c) and/or (4) Incremental Equivalent Debt incurred
to refinance all or a portion of the Loans in accordance with the requirements of the definition thereof. If any Lender fails to deliver
a written notice to the Administrative Agent of its election to decline receipt of its Applicable Percentage of any mandatory prepayment
within the time frame specified by the Administrative Agent, such failure will be deemed to constitute an acceptance of such Lender’s
Applicable Percentage of the total amount of such mandatory prepayment of Loans.

 

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(vi)          Except
as otherwise contemplated by this Agreement or provided in, or intended with respect to, any Refinancing Amendment, any Incremental Facility
Amendment, any Extension Amendment or any Replacement Debt (provided, that such Refinancing Amendment, Incremental Facility
Amendment or Extension Amendment may not provide that the applicable Class of Loans receive a greater than pro rata portion of any
prepayment of Loans pursuant to Section 2.11(b) than would otherwise be permitted by this Agreement, it being understood
that any such Incremental Amendment may provide for a greater than pro rata payment of the Incremental Loans established thereby with
the proceeds of any Disposition in respect of any asset, business or Person the acquisition of which was financed, all or in part, with
such Incremental Loan and the Disposition of which was contemplated in the definitive documentation in respect of such acquisition),
in each case effectuated or issued in a manner consistent with this Agreement, each prepayment of Loans pursuant to Section 2.11(b) shall
be allocated to prepay any Class of Loans as directed by the Borrower or, in the absence of such direction, ratably to each Class of
Loans then outstanding that is pari passu with the Initial Loans in right of payment and with respect to security (provided
that any prepayment of Loans with the Net Proceeds of any Incremental Facility incurred in reliance on clause (b) of
the definition of “Incremental Cap” to extend the Maturity Date of all or any portion of any Class of Loans pursuant
to Section 2.22, Incremental Equivalent Debt incurred in reliance on clause (b) of the definition of “Incremental
Cap” to extend the Maturity Date of all or any portion of any Class of Loans and/or any Replacement Loan shall be applied
to the applicable Class of Loans being extended, refinanced or replaced, as applicable). Any accepted prepayment under this Section 2.11(b) shall
be paid to the Lenders in accordance with their respective Applicable Percentage of the applicable Class. If no Lender exercises the
right to decline a prepayment of the Loans pursuant to Section 2.11(b)(v), the amount of such mandatory prepayment shall
be applied first to the then outstanding Loans of the relevant Class that are ABR Loans to the full extent thereof and then to the
then outstanding Loans of such Class that are LIBO Rate Loans in a manner that minimizes the amount of any payment required to be
made by the Borrower pursuant to Section 2.16.

 

(vii)         Notwithstanding
anything in this Section 2.11(b) to the contrary, until the First Lien Obligations Payment Date, no mandatory prepayment
of outstanding Loans that would otherwise be required to be made under this Section 2.11(b) shall be required to be
made, except with respect to the portion (if any) of the proceeds of any event giving rise to any corresponding mandatory prepayment
under Section 2.11(b) of the First Lien Credit Agreement (or the equivalent provision under any other document governing
any First Lien Obligation) that has been declined by the applicable lenders thereunder in accordance with Section 2.11(b)(v) of
the First Lien Credit Agreement (or the equivalent provision under any other document governing any First Lien Obligation).

 

(viii)        Prepayments
made under this Section 2.11(b) shall be (A) accompanied by accrued interest as required by Section 2.13
(which may, at the election of the Borrower, be netted in the calculation of the applicable prepayment amount (and in the event such
election is made, the amount of the applicable prepayment of principal and the amount of such accrued interest shall be determined by
the Borrower in good faith in consultation with the Administrative Agent)), (B) subject to Section 2.16 and (C) in
the case of prepayments of Initial Loans, shall be without premium or penalty.

 

Section 2.12.          Fees.

 

(a)            The
Borrower agrees to pay to the Administrative Agent, for its own account, the annual administration fee described in the OR Fee Letter.

 

(b)           All
fees payable hereunder shall be paid on the date due, in Dollars and in immediately available funds, to the Administrative Agent. Fees
paid shall not be refundable under any circumstance except as otherwise provided in the Fee Letters.

 

(c)            [Reserved].

 

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(d)           Unless
otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual
days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any
fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

 

Section 2.13.          Interest.

 

(a)           The
Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus the Applicable Rate.

 

(b)           The
Loans comprising each LIBO Rate Borrowing shall bear interest at the LIBO Rate for the Interest Period in effect for such Borrowing plus
the Applicable Rate.

 

(c)            [Reserved].

 

(d)           Notwithstanding
the foregoing but in all cases subject to Section 9.05(f), if any principal of or interest on any Loan or other amount payable
by the Borrower hereunder is not, in each case, paid or reimbursed when due, whether at stated maturity, upon acceleration or otherwise,
the relevant overdue amount shall bear interest, to the fullest extent permitted by applicable Requirements of Law, after as well as
before judgment, at a rate per annum equal to (i) in the case of overdue principal or interest of any Loan, 2.00% plus the
rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other
amount, 2.00%; provided, that no amount shall accrue pursuant to this Section 2.13(d) on any overdue amount or
other amount that is payable to any Defaulting Lender so long as such Lender is a Defaulting Lender.

 

(e)           Accrued
interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and on the Maturity Date applicable
to such Loan; provided that (A) interest accrued pursuant to paragraph (d) of this Section 2.13 shall
be payable on demand, (B) except as provided in Section 2.11(b)(viii) hereof, in the event of any repayment or
prepayment of any Loan, accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or
prepayment and (C) in the event of any conversion of any LIBO Rate Loan prior to the end of the current Interest Period therefor,
accrued interest on such Loan shall be payable on the effective date of such conversion.

 

(f)           All
interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate
Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366
days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding
the last day). The applicable Alternate Base Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination
shall be conclusive absent manifest error. Interest shall accrue on each Loan for the day on which the Loan is made and shall not accrue
on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid; provided that any Loan that is repaid
on the same day on which it is made shall bear interest for one day.

 

Section 2.14.          Alternate
Rate of Interest.

 

If, prior to the commencement
of any Interest Period for a LIBO Rate Borrowing:

 

(a)           subject
to, and without limitation of, Section 1.13, if the Administrative Agent determines (which determination shall be conclusive
absent manifest error) that adequate and reasonable means do not exist for ascertaining the LIBO Rate for such Interest Period; or

 

(b)           the
Administrative Agent is advised by the Required Lenders in writing that the LIBO Rate for such Interest Period will not adequately and
fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period;

 

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then the Administrative Agent shall promptly give
notice thereof to the Borrower and the Lenders by telephone, facsimile or electronic mail promptly thereafter (but at least two Business
Days prior to the first day of such Interest Period) and, until the Administrative Agent notifies the Borrower and the Lenders that the
circumstances giving rise to such notice no longer exist, which the Administrative Agent agrees promptly to do, (i) any Interest
Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a LIBO Rate Borrowing shall be
ineffective and such Borrowing shall be converted to an ABR Borrowing on the last day of the Interest Period applicable thereto, and (ii) if
any Borrowing Request requests a LIBO Rate Borrowing, such Borrowing shall be made as an ABR Borrowing.

 

Section 2.15.          Increased
Costs.

 

(a)            If
any Change in Law:

 

(i)             imposes,
modifies or deems applicable any reserve, special deposit or similar requirement against assets of, deposits with or for the account
of, or credit extended by, any Lender (except any such reserve requirement reflected in the LIBO Rate);

 

(ii)            subjects
any Lender to any Taxes (other than (A) Indemnified Taxes and Other Taxes indemnifiable under Section 2.17, and (B) Excluded
Taxes) on or with respect to its loans, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities
or capital attributable thereto; or

 

(iii)           imposes
on any Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement or LIBO
Rate Loans made by any Lender;

 

and the result of any of the foregoing is to increase
the cost to the relevant Lender of making or maintaining any LIBO Rate Loan (or of maintaining its obligation to make any such Loan) or
to increase the cost to such Lender to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal,
interest or otherwise) in respect of any LIBO Rate Loan in an amount deemed by such Lender to be material, then, within 30 days after
the Borrower’s receipt of the certificate contemplated by paragraph (c) of this Section 2.15, the Borrower
will pay (or cause to be paid) to such Lender, as applicable, such additional amount or amounts as will compensate such Lender for such
additional costs incurred or reduction suffered; provided that the Borrower shall not be liable for such compensation if (x) the
relevant Change in Law occurs on a date prior to the date such Lender becomes a party hereto, (y) such Lender invokes Section 2.20
or (z) in the case of requests for reimbursement under clause (iii) above resulting from a market disruption, (A) the
relevant circumstances do not generally affect the banking market or (B) the applicable request has not been made by Lenders constituting
Required Lenders.

 

(b)           If
any Lender determines that any Change in Law regarding liquidity or capital 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 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 liquidity or capital adequacy), then within 30 days of receipt by the Borrower of the certificate contemplated
by paragraph (c) of this Section 2.15 the Borrower will pay (or cause to be paid) 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)           Any
Lender requesting compensation under this Section 2.15 shall be required to deliver a certificate to the Borrower that (i) sets
forth the amount or amounts necessary to compensate such Lender or the holding company thereof, as applicable, as specified in paragraph
(a) or (b) of this Section, (ii) sets forth, in reasonable detail, the manner in which such amount or amounts
were determined and (iii) certifies that such Lender is generally charging such amounts to similarly situated borrowers, which certificate
shall be conclusive absent manifest error.

 

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

 

Section 2.16.          Break
Funding Payments. Subject to Section 9.05(f), in the event of (a) the conversion or prepayment of any principal
of any LIBO Rate Loan other than on the last day of an Interest Period applicable thereto (whether voluntary, mandatory, automatic, by
reason of acceleration or otherwise), (b) the failure to borrow, convert, continue or prepay any LIBO Rate Loan on the date or in
the amount specified in any notice delivered pursuant hereto or (c) the assignment of any LIBO Rate Loan of any Lender other than
on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.19,
then, in any such event, the Borrower shall compensate each Lender for the actual amount of any actual out-of-pocket loss, expense and/or
liability (including any actual out-of-pocket loss, expense or liability incurred by reason of the liquidation or reemployment of deposits
or other funds required by such Lender to fund or maintain LIBO Rate loans, but excluding loss of anticipated profit) that such Lender
has incurred or sustained as a result of such event. Any Lender requesting compensation under this Section 2.16 shall be
required to deliver a certificate to the Borrower that (A) sets forth any amount or amounts that such Lender is entitled to receive
pursuant to this Section, the basis therefor and, in reasonable detail, the manner in which such amount or amounts were determined and
(B) certifies that such Lender is generally charging the relevant amounts to similarly situated borrowers, which certificate shall
be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 30 days
after receipt thereof.

 

Section 2.17.          Taxes.

 

(a)            Payments
Free of Taxes. Any payment 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 of the applicable
withholding agent) requires the deduction or withholding of any Tax from any such payment, then (i) if such Tax is an Indemnified
Tax and/or Other Tax, the amount payable by the applicable Loan Party shall be increased as necessary so that after such deduction or
withholding has been made (including such deductions or withholdings applicable to additional sums payable under this Section 2.17)
each Lender (or, in the case of any payment made to the Administrative Agent for its own account, the Administrative Agent) receives
an amount equal to the sum it would have received had no such deductions or withholdings been made, (ii) the applicable withholding
agent shall be entitled to make such withholding or deductions and (iii) the applicable withholding agent shall timely pay the full
amount withheld or deducted to the relevant Governmental Authority in accordance with applicable Requirements of Law.

 

(b)           Payment
of Other Taxes. In addition, the Loan Parties shall pay any Other Taxes to the relevant Governmental Authority in accordance with
applicable Requirements of Law or at the option of the Administrative Agent timely reimburse it for the payment of Other Taxes.

 

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(c)            Indemnification
by the Borrower. The Borrower shall indemnify the Administrative Agent and each Lender within 30 days after receipt of the certificate
described in the succeeding sentence, for the full amount of any Indemnified Taxes or Other Taxes payable or paid by the Administrative
Agent or such Lender, as applicable (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable
under this Section 2.17), other than any penalties determined by a final and non-appealable judgment of a court of competent
jurisdiction (or documented in any settlement agreement) to have resulted from the gross negligence, bad faith or willful misconduct
of the Administrative Agent or such Lender, and, in each case, any reasonable expenses arising therefrom or with respect thereto, whether
or not such Taxes were correctly or legally imposed or asserted; provided that if the Borrower reasonably believes that such Taxes
were not correctly or legally asserted, the Administrative Agent or such Lender, as applicable, will use reasonable efforts to cooperate
with the Borrower to obtain a refund of such Taxes (which shall be repaid to the Borrower in accordance with Section 2.17(g))
at the expense of the Loan Parties, so long as such efforts would not, in the sole determination of the Administrative Agent or such
Lender, result in any additional out-of-pocket costs or expenses not reimbursed by the Loan Parties or be otherwise materially disadvantageous
to the Administrative Agent or such Lender, as applicable. In connection with any request for reimbursement under this Section 2.17(c),
the relevant Lender or the Administrative Agent, as applicable, shall deliver a certificate to the Borrower setting forth, in reasonable
detail, the basis and calculation of the amount of the relevant payment or liability. Notwithstanding anything to the contrary contained
in this Section 2.17, no Borrower shall be required to indemnify the Administrative Agent or any Lender pursuant to this
Section 2.17 for any amount to the extent the Administrative Agent or such Lender fails to notify the Borrower of such possible
indemnification claim within 180 days after the Administrative Agent or such Lender receives written notice from the applicable taxing
authority of the specific Tax assessment giving rise to such indemnification claim.

 

(d)           [Reserved].

 

(e)            Evidence
of Payments. As soon as practicable after any payment of any Taxes pursuant to this Section 2.17 by any Loan Party to
a Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued,
if any, by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such
payment that is reasonably satisfactory to the Administrative Agent.

 

(f)            Status
of Lenders.

 

(i)            Any
Lender that is entitled to an exemption from or reduction of any withholding Tax with respect to any payment made under any Loan Document
shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative
Agent, such properly completed and executed documentation as the Borrower or the Administrative Agent may reasonably request to permit
such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by
the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable Requirements of Law or reasonably
requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or
not such Lender is subject to backup withholding or information reporting requirements. Each Lender hereby authorizes the Administrative
Agent to deliver to the Borrower and to any successor Administrative Agent any documentation provided to the Administrative Agent pursuant
to this Section 2.17(f). 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 paragraphs (f)(ii)(A), (ii)(B) and
(ii)(D) of this Section 2.17) 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.

 

(ii)           Without
limiting the generality of the foregoing,

 

(A)          each
Lender that is a US Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which it becomes a Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), two
executed copies of IRS Form W-9 certifying that such Lender is exempt from US federal backup withholding;

 

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(B)           each
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent 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 the Borrower or the Administrative Agent), whichever of the following is applicable:

 

(1)            in
the case of any Foreign Lender claiming the benefits of an income tax treaty to which the US is a party, two executed copies of IRS Form W-8BEN
or W-8BEN-E, as applicable, establishing any available exemption from, or reduction of, US federal withholding Tax;

 

(2)            two
executed copies of IRS Form W-8ECI (or any successor forms);

 

(3)            in
the case of any Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 871(h) or 881(c) of
the Code, (x) two executed copies of a certificate substantially in the form of Exhibit O-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 the Borrower within the meaning of Section 871(h)(3)(B) of the Code, or a “controlled foreign corporation” related
to the Borrower as described in Section 881(c)(3)(C) of the Code, and that no payments payable to such Lender are effectively
connected with the conduct of a US trade or business (a “Tax Compliance Certificate”) and (y) two executed copies
of IRS Form W-8BEN or W-8BEN-E, as applicable (or any successor forms); or

 

(4)            to
the extent any Foreign Lender is not the beneficial owner (e.g., where the Foreign Lender is a partnership or participating Lender),
two executed copies of IRS Form W-8IMY (or any successor forms), accompanied by IRS Form W-8ECI, IRS Form W-8BEN
or W-8BEN-E, a Tax Compliance Certificate substantially in the form of Exhibit O-2 or Exhibit O-4, IRS Form W-9,
and/or other certification documents from each beneficial owner, as applicable; provided that if such Foreign Lender is a partnership
(and not a participating Lender) and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest
exemption, such Foreign Lender may provide a Tax Compliance Certificate substantially in the form of Exhibit O-3 on behalf
of each such direct or indirect partner(s);

 

(C)           each
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent 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 the Borrower or the Administrative Agent), two executed copies of any other form prescribed by applicable Requirements of
Law as a basis for claiming exemption from or a reduction in US federal withholding Tax, duly completed, together with such supplementary
documentation as may be prescribed by applicable Requirements of Law to permit the Borrower or the Administrative Agent to determine
the withholding or deduction required to be made; and

 

(D)           if
a payment made to any Lender under any Loan Document would be subject to US 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 Borrower and the Administrative Agent at the time or times prescribed by applicable
Requirements of Law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation as is
prescribed by applicable Requirements of Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) as may be necessary
for the Borrower and the Administrative Agent to comply with their obligations under FATCA, to determine whether such Lender has complied
with such Lender’s obligations under FATCA or to determine the amount, if any, 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.

 

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For the avoidance of doubt,
if a Lender is an entity disregarded from its owner for US federal income tax purposes, references to the foregoing documentation are
intended to refer to documentation with respect to such Lender’s owner and, as applicable, such Lender.

 

Each Lender agrees that if
any documentation it previously delivered expires or becomes obsolete or inaccurate in any respect (including any specific documentation
required above in this Section 2.17(f)), it shall deliver to the Borrower and the Administrative Agent updated or other appropriate
documentation (including any new documentation reasonably requested by the Borrower or the Administrative Agent) or promptly notify the
Borrower and the Administrative Agent in writing of its legal ineligibility to do so.

 

(g)           Treatment
of Certain Refunds. If the Administrative Agent or any Lender determines, in its sole discretion, that it has received a refund (whether
received in cash or applied as a credit against any cash taxes payable) of any Indemnified Taxes or Other Taxes as to which it has been
indemnified by the Borrower or with respect to which any Loan Party has paid additional amounts pursuant to this Section 2.17,
it shall pay over such refund to the applicable Loan Party (but only to the extent of indemnity payments made, or additional amounts
paid, by such Loan Party under this Section 2.17 with respect to the Indemnified Taxes or Other Taxes giving rise to such
refund), net of all out-of-pocket expenses of the Administrative Agent or such Lender (including any Taxes imposed with respect to such
refund), and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided
that the applicable Loan Party, upon the request of the Administrative Agent or such Lender, agrees to repay the amount paid over
to such Loan Party (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative
Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority.
Notwithstanding anything to the contrary in this paragraph (g), in no event will the Administrative Agent or any Lender be required
to pay any amount to the applicable Loan Party pursuant to this paragraph (g), in no event will the Administrative Agent or any
Lender be required to pay any amount to the Borrower pursuant to this paragraph (g) to the extent that the payment thereof
would place the Administrative Agent or such Lender in a less favorable net after-Tax position than the position that the Administrative
Agent or such Lender would have been in if the Tax subject to indemnification had not been deducted, withheld or otherwise imposed and
the indemnification payments or additional amounts giving rise to such refund had never been paid. This Section 2.17 shall
not be construed to require the Administrative Agent or any Lender to make available its Tax returns (or any other information relating
to its Taxes which it deems confidential) to the relevant Loan Party or any other Person.

 

(h)           Survival.
Each party’s obligations under this Section 2.17 shall survive the resignation or replacement of the Administrative
Agent or any assignment of rights by, or the replacement of, any Lender, the termination of the Commitments and the repayment, satisfaction
or discharge of all obligations under any Loan Document.

 

(i)             [Reserved].

 

(j)             Certain
Documentation.     On or before the date on which the Administrative
Agent becomes a party to this Agreement, the Administrative Agent shall deliver to the Borrower whichever of the following is applicable:
(i) if the Administrative Agent is a US Person, two executed copies of IRS Form W-9 certifying that such Administrative Agent
is exempt from US federal backup withholding or (ii) if the Administrative Agent is not a US Person, (A) with respect to payments
received for its own account, two executed copies of IRS Form W-8ECI or W-8BEN-E, as applicable and (ii) with respect to payments
received on account of any Lender, two executed copies of IRS Form W-8IMY (together with all required accompanying documentation)
certifying that the Administrative Agent is either a US branch and may be treated as a US person for purposes of applicable US federal
withholding Tax or a qualified intermediary. At any time thereafter, the Administrative Agent shall provide updated documentation previously
provided (or a successor form thereto) when any documentation previously delivered has expired or become obsolete or invalid or otherwise
upon the reasonable request of the Borrower. Notwithstanding anything to the contrary in this Section 2.17(j), the Administrative
Agent shall not be required to provide any documentation that the Administrative Agent is not legally eligible to deliver as a result
of a Change in Law after the Closing Date.

 

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Section 2.18.          Payments
Generally; Allocation of Proceeds; Sharing of Payments.

 

(a)            Unless
otherwise specified, the Borrower shall make each payment required to be made by it hereunder (whether of principal, interest or fees
or of amounts payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to 3:00 p.m. on the date when
due. Each such payment shall be made in immediately available funds (or such other form of consideration as the relevant Lender may agree),
without set-off or counterclaim. Any amount received after such time on any date may, in the discretion of the Administrative Agent,
be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall
be made to the Administrative Agent to the applicable account designated by the Administrative Agent to the Borrower, except that payments
pursuant to Sections 2.15, 2.16, 2.17 and/or 9.03 shall be made directly to the Person or Persons entitled
thereto. The Administrative Agent shall distribute any such payment received by it for the account of any other Person to the appropriate
recipient promptly following receipt thereof. Except as provided in Sections 2.19(b), 2.21, 2.22, 2.23, 9.02(c) and/or
9.05 and/or any other express provision of this Agreement, each Borrowing, each payment or prepayment of principal of any Borrowing,
each payment of interest on the Loans of a given Class and each conversion of any Borrowing to or continuation of any Borrowing
as a Borrowing of any Type (and of the same Class) shall be allocated pro rata among the Lenders in accordance with their respective
Applicable Percentages of the applicable Class. Each Lender agrees that in computing such Lender’s portion of any Borrowing to
be made hereunder, the Administrative Agent may, in its discretion, round each Lender’s percentage of such Borrowing to the next
higher or lower whole Dollar amount. All payments hereunder shall be made in Dollars (or such other form of consideration as the relevant
recipient may agree). Any payment required to be made by the Administrative Agent hereunder shall be deemed to have been made by the
time required if the Administrative Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance
with the regulations or operating procedures of the clearing or settlement system used by the Administrative Agent to make such payment.

 

(b)           Subject
in all respects to the provisions of any applicable Intercreditor Agreement, all proceeds of Collateral received by the Administrative
Agent while an Event of Default exists and all or any portion of the Loans have been accelerated hereunder pursuant to Section 7.01,
shall be applied:

 

(i)             first,
to the payment of all costs and expenses then due incurred by the Administrative Agent in connection with any collection, sale or realization
on Collateral or otherwise in connection with this Agreement, any other Loan Document or any of the Secured Obligations, including all
court costs and the fees and expenses of agents and legal counsel, the repayment of all advances made by the Administrative Agent hereunder
or under any other Loan Document on behalf of any Loan Party and any other costs or expenses incurred in connection with the exercise
of any right or remedy hereunder or under any other Loan Document,

 

(ii)            second,
on a pro rata basis, to pay any fees, indemnities or expense reimbursements constituting Secured Obligations then due to the Administrative
Agent (other than those covered in clause first above),

 

(iii)           third,
on a pro rata basis in accordance with the amounts of the Secured Obligations (other than contingent indemnification obligations for
which no claim has yet been made) owed to the Secured Parties on the date of any such distribution, to the payment in full of the Secured
Obligations,

 

(iv)          fourth,
as provided in any applicable Intercreditor Agreement, and

 

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(v)           fifth,
to, or at the direction of, the Borrower or as a court of competent jurisdiction may otherwise direct.

 

(c)            If
any Lender obtains payment (whether voluntary, involuntary, through the exercise of any right of set-off or otherwise) in respect of
any principal of or interest on any Loan of any Class resulting in such Lender receiving payment of a greater proportion of the
aggregate amount of its Loans of such Class and accrued interest thereon than the proportion received by any other Lender with Loans
of such Class, then the Lender receiving such greater proportion shall purchase (for Cash at face value) participations in the Loans
of such Class of other Lenders of such Class at such time outstanding to the extent necessary so that the benefit of all such
payments shall be shared by the Lenders of such Class ratably in accordance with the aggregate amount of principal of and accrued
interest on their respective Loans of such Class; provided that (i) if any such participation is purchased and all or any
portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the
extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not apply to (A) any payment made
by the Borrower pursuant to and in accordance with the express terms of this Agreement or (B) any payment obtained by any Lender
as consideration for the assignment of or sale of a participation in any Loan to any permitted assignee or participant, including any
payment made or deemed made in connection with Sections 2.22, 2.23, 9.02(c) and/or Section 9.05.
The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable Requirements of Law, that
any Lender acquiring a participation pursuant to the foregoing arrangements may exercise rights of set-off and counterclaim against the
Borrower with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation.
The Administrative Agent will keep records (which shall be conclusive and binding in the absence of manifest error) of participations
purchased under this Section 2.18(c) and will, in each case, notify the Lenders following any such purchase or repayment.
Each Lender that purchases a participation pursuant to this Section 2.18(c) shall from and after the date of such purchase
have the right to give all notices, requests, demands, directions and other communications under this Agreement with respect to the portion
of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations purchased.

 

(d)           Unless
the Administrative Agent has received written notice from the Borrower prior to the date on which any payment is due to the Administrative
Agent for the account of any Lender hereunder that the Borrower will not make such payment, the Administrative Agent may assume that
the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the applicable
Lender the amount due. In such event, if the Borrower has not in fact made such payment (or caused such payment to be made), then each
Lender severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender with interest
thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative
Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking
industry rules on interbank compensation.

 

(e)            If
any Lender fails to make any payment required to be made by it pursuant to Section 2.07(b) or Section 2.18(d),
then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amount thereafter received
by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such
unsatisfied obligations are fully paid.

 

Section 2.19.          Mitigation
Obligations; Replacement of Lenders.

 

(a)            If
any Lender requests compensation under Section 2.15 or determines it can no longer make or maintain LIBO Rate Loans pursuant
to Section 2.20, or any Loan Party is required to pay any additional amount to or indemnify any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 2.17, then such Lender 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 reasonable judgment of such Lender, such designation or assignment (i) would eliminate
or reduce amounts payable pursuant to Section 2.15 or 2.17, as applicable, in the future or mitigate the impact of
Section 2.20, as the case may be, and (ii) would not subject such Lender to any unreimbursed out-of-pocket cost or expense
and would not otherwise be disadvantageous to such Lender in any material respect. The Borrower hereby agrees to pay all reasonable out-of-pocket
costs and expenses incurred by any Lender in connection with any such designation or assignment.

 

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(b)           If
(i) any Lender requests compensation under Section 2.15 or determines it can no longer make or maintain LIBO Rate Loans
pursuant to Section 2.20, (ii) any Loan Party is required to pay any additional amount to or indemnify any Lender or
any Governmental Authority for the account of any Lender pursuant to Section 2.17, (iii) any Lender is a Defaulting
Lender or (iv) in connection with any proposed amendment, waiver or consent requiring the consent of “each Lender”,
or “each Lender directly affected thereby” (or any other Class or group of Lenders other than the Required Lenders)
with respect to which Required Lender consent (or the consent of Lenders holding loans or commitments of such Class or lesser group
representing more than 50% of the sum of the total loans and unused commitments of such Class or lesser group at such time) has
been obtained, as applicable, any Lender is a non-consenting Lender, then the Borrower may, at its sole expense and effort, upon notice
to such Lender and the Administrative Agent, (x) terminate the applicable Commitments of such Lender, and repay all Obligations
of the Borrower owing to such Lender relating to the applicable Loans and participations held by such Lender as of such termination date
or (y) replace such Lender by requiring such Lender to assign and delegate (and such Lender shall be obligated to assign and delegate),
without recourse (in accordance with and subject to the restrictions contained in Section 9.05), all of its interests, rights
and obligations under this Agreement to an Eligible Assignee that assumes such obligations (which Eligible Assignee may be another Lender,
if any Lender accepts such assignment); provided that (A) such Lender has received payment of an amount equal to the outstanding
principal amount of its Loans, in each case of such Class of Loans and/or Commitments, accrued interest thereon, accrued fees and
all other amounts payable to it under any Loan Document with respect to such Class of Loans and/or Commitments, (B) in the
case of any assignment resulting from a claim for compensation under Section 2.15 or any payment required to be made pursuant
to Section 2.17, such assignment would result in a reduction in such compensation or payment and (C) such assignment
does not conflict with applicable Requirements of Law. No Lender (other than a Defaulting Lender) shall be required to make any such
assignment and delegation, and the Borrower may not repay the Obligations of such Lender or terminate its Commitments, if, prior thereto,
as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation
cease to apply. Each Lender agrees that if it is replaced pursuant to this Section 2.19, it shall execute and deliver to
the Administrative Agent an Assignment Agreement to evidence such sale and purchase and shall deliver to the Administrative Agent any
Promissory Note (if the assigning Lender’s Loans are evidenced by one or more Promissory Notes) subject to such Assignment Agreement
(provided that the failure of any Lender replaced pursuant to this Section 2.19 to execute an Assignment Agreement
or deliver any such Promissory Note shall not render such sale and purchase (and the corresponding assignment) invalid), such assignment
shall be recorded in the Register and any such Promissory Note shall be deemed cancelled. Each Lender hereby irrevocably appoints the
Administrative Agent (such appointment being coupled with an interest) as such Lender’s attorney-in-fact, with full authority in
the place and stead of such Lender and in the name of such Lender, from time to time in the Administrative Agent’s discretion,
with prior written notice to such Lender, to take any action and to execute any such Assignment Agreement or other instrument that the
Administrative Agent may deem reasonably necessary to carry out the provisions of this clause (b).

 

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Section 2.20.          Illegality.
If any Lender reasonably determines that any Change in Law has made it unlawful, or that any Governmental Authority has asserted after
the Closing Date that it is unlawful, for such Lender or its applicable lending office to make, maintain or fund Loans whose interest
is determined by reference to the Published LIBO Rate, or to determine or charge interest rates based upon the Published LIBO Rate, or
any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits
of Dollars in the applicable interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent,
(i) any obligation of such Lender to make or continue LIBO Rate Loans or to convert ABR Loans to LIBO Rate Loans shall be suspended
and (ii) if such notice asserts the illegality of such Lender making or maintaining ABR Loans the interest rate on which is determined
by reference to the Published LIBO Rate component of the Alternate Base Rate, the interest rate on which ABR Loans of such Lender, shall,
if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Published LIBO Rate component
of the Alternate Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances
giving rise to such determination no longer exist (which notice such Lender agrees to give promptly). Upon receipt of such notice, (x) the
Borrower shall, upon demand from the relevant Lender (with a copy to the Administrative Agent), at its election, prepay or convert all
of such Lender’s LIBO Rate Loans to ABR Loans (the interest rate on which ABR Loans of such Lender shall, if necessary to avoid
such illegality, be determined by the Administrative Agent without reference to the Published LIBO Rate component of the Alternate Base
Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such LIBO Rate Loans
until such day, or immediately, if such Lender may not lawfully continue to maintain such LIBO Rate Loans (in which case the Borrower
shall not be required to make payments pursuant to Section 2.16 in connection with such payment); and (y) if such notice
asserts the illegality of such Lender determining or charging interest rates based upon the Published LIBO Rate, the Administrative Agent
shall during the period of such suspension compute the Alternate Base Rate applicable to such Lender without reference to the Published
LIBO Rate component thereof until the Administrative Agent is advised in writing by such Lender that it is no longer illegal for such
Lender to determine or charge interest rates based upon the Published LIBO Rate. Upon any such prepayment or conversion, the Borrower
shall also pay accrued interest on the amount so prepaid or converted.  Each Lender agrees to designate a different lending office
if such designation will avoid the need for such notice and will not, in the determination of such Lender, otherwise be materially disadvantageous
to such Lender.

 

Section 2.21.          Defaulting
Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Person becomes a Defaulting Lender, then the following
provisions shall apply for so long as such Person is a Defaulting Lender:

 

(a)            [Reserved].

 

(b)           The
Loans and the Commitments of such Defaulting Lender shall not be included in determining whether all Lenders, each affected Lender, the
Required Lenders or such other number of Lenders as may be required hereby or under any other Loan Document have taken or may take any
action hereunder (including any consent to any waiver, amendment or modification pursuant to Section 9.02); provided
that any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender which (i) reduces the principal
amount of any amount owing to such Defaulting Lender or (ii) affects such Defaulting Lender disproportionately and adversely relative
to other affected Lenders shall require the consent of such Defaulting Lender.

 

(c)            Any
payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of any Defaulting Lender (whether
voluntary or mandatory, at maturity, pursuant to Section 2.11, Section 2.15, Section 2.16, Section 2.17,
Section 2.18, Article 7, Section 9.05 or otherwise, and including any amount made available to the
Administrative Agent by such Defaulting Lender pursuant to Section 9.09), shall be applied at such time or times as may be
determined by the Administrative Agent and, where relevant, the Borrower as follows: first, to the payment of any amount owing
by such Defaulting Lender to the Administrative Agent hereunder; second so long as no Default or Event of Default exists, as the
Borrower may request, 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; third, as the Administrative Agent or the Borrower may elect, to be held in a deposit account and
released in order to satisfy obligations of such Defaulting Lender to fund Loans under this Agreement; fourth, to the payment
of any amount owing to the non-Defaulting Lenders as a result of any judgment of a court of competent jurisdiction obtained by any non-Defaulting
Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; fifth,
to the payment of any amount owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower
against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and sixth,
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 Loan in respect of which such Defaulting Lender has not fully funded its appropriate share
and (y) such Loan was made or created at a time when applicable conditions to the funding of such Loan were satisfied or waived,
such payment shall be applied solely to pay the Loans of all non-Defaulting Lenders on a pro rata basis prior to being applied to the
payment of any Loan of such Defaulting Lender. Any payment, prepayment or other amount paid or payable to any Defaulting Lender that
are applied (or held) to pay any amount owed by any Defaulting Lender shall be deemed paid to and redirected by such Defaulting Lender,
and each Lender irrevocably consents hereto.

 

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Section 2.22.          Incremental
Credit Extensions.

 

(a)           The
Borrower may, at any time, on one or more occasions pursuant to an Incremental Facility Amendment add one or more new Classes of term
facilities and/or increase the principal amount of the Loans of any existing Class by requesting new commitments to provide such
Loans (any such new Class or increase, an “Incremental Facility” and any loan made pursuant to an Incremental
Facility, an “Incremental Loan”) in an aggregate outstanding principal amount not to exceed the Incremental Cap; provided,
that:

 

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

 

(ii)           except
as the Borrower and any Lender may separately agree, no Lender shall be obligated to provide any Incremental Commitment, and the determination
to provide any Incremental Commitment shall be within the sole and absolute discretion of such Lender (it being agreed that the Borrower
shall not 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 any Incremental Commitment or Incremental Loan;

 

(iv)          except
as otherwise permitted herein (including with respect to currency, pricing (including any “MFN” or other pricing term), interest
rate margins, rate floors, fees, premiums (including prepayment premiums), funding discounts, maturity and amortization) the terms of
any Incremental Facility, if not substantially consistent with those applicable to any then-existing Class of Loans, must be reasonably
acceptable to the Administrative Agent; it being agreed that any terms applicable to such Incremental Facility that (A) are applicable
only after the then-existing Latest Maturity Date, (B) are, taken as a whole, in the good faith determination of the Borrower, not
more favorable to the lenders or the agent of such Incremental Facility than those contained in the Loan Documents, (C) are more
favorable to the lenders or the agent of such Incremental Facility than those contained in the Loan Documents and are then conformed
(or added) to the Loan Documents for the benefit of the Lenders or, as applicable, the Administrative Agent (i.e., by conforming
or adding a term to the then-outstanding Loans pursuant to the applicable Incremental Facility Amendment) and/or (D) taken as a
whole, reflect then current market terms and conditions at the time of the incurrence or issuance of such Incremental Facility (as determined
by the Borrower in good faith), shall, in each case, be deemed to be satisfactory to the Administrative Agent; provided, that
(x) any Incremental Facility that consists of Customary Term A Loans may include one or more financial maintenance covenants that
do not apply for the benefit of any Lender that is not a lender under such Incremental Facility and (y) notwithstanding the foregoing,
any Incremental Facility may be structured as a “delayed draw” facility with such conditions to borrowing thereunder as the
Borrower and the relevant Incremental Lenders may agree;

 

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(v)           the
currency, pricing (including any “MFN” or other pricing term), interest rate margins, rate floors, fees, premiums (including
any prepayment premium), funding discounts and, subject to clauses (vi), (vii) and (viii) below, the maturity
and amortization schedule applicable to any Incremental Facility shall be determined by the Borrower and the lender or lenders providing
such Incremental Facility; provided, that (A) in the case of any Incremental Facility that constitutes MFN Indebtedness,
the Effective Yield applicable thereto may not be more than 0.75% higher than the Effective Yield applicable to the Initial Loans, unless
the Applicable Rate (and/or, as provided in the following clause (B), the Alternate Base Rate floor or LIBO Rate floor) with respect
to the Initial Loans is adjusted, or fees are paid to the relevant Initial Lenders, in each case, such that the Effective Yield in respect
of such Initial Loans is not more than 0.75% per annum less than the Effective Yield with respect to such Incremental Facility and (B) any
such Effective Yield applicable to any Initial Loan due to the application or imposition of an Alternate Base Rate floor or LIBO Rate
floor on any Incremental Loan may, at the election of the Borrower, be effected solely through an increase in (or implementation of,
as applicable) any Alternate Base Rate floor or LIBO Rate floor applicable to such Initial Loan (this proviso, the “MFN Provision”),

 

(vi)          other
than with respect to any Incremental Facility consisting of Indebtedness in the form of Customary Bridge Loans and Customary Term A Loans,
the final maturity date with respect to any Incremental Loan shall be no earlier than the then-existing Latest Maturity Date;

 

(vii)         other
than with respect to any Incremental Facility consisting of Indebtedness in the form of Customary Bridge Loans or Customary Term A Loans,
the Weighted Average Life to Maturity of any Incremental Facility shall be no shorter than the remaining Weighted Average Life to Maturity
of any then-existing tranche of Loans (without giving effect to any prepayment thereof that would otherwise modify the Weighted Average
Life to Maturity thereof);

 

(viii)        subject
to clauses (vi) and (vii) above, any Incremental Facility may otherwise have an amortization schedule as determined
by the Borrower and the lenders providing such Incremental Facility;

 

(ix)           subject
to clause (v) above, to the extent applicable, any fee payable in connection with any Incremental Facility shall be determined
by the Borrower and the arrangers and/or lenders providing such Incremental Facility;

 

(x)            (A) any
Incremental Facility may rank pari passu with or junior to any then-existing Class of Loans, in right of payment and/or security
or may be unsecured (and to the extent the relevant Incremental Facility is secured on a junior lien basis or subordinated in right of
payment, it shall be subject to an Intercreditor Agreement) and (B) no Incremental Facility may be (x) guaranteed by any subsidiary
that is not a Loan Party (it being understood and agreed that the obligations of any subsidiary with respect to any escrow arrangement
into which the proceeds of such Incremental Facility are deposited shall not constitute a guarantee by any subsidiary that is not a Loan
Party) or (y) secured by any asset that does not constitute Collateral; it being understood that any Incremental Facility that is
funded into Escrow pursuant to customary (in the good faith determination of the Borrower) escrow arrangements may be secured by the
applicable funds and related assets held in Escrow (and the proceeds thereof) until the date on which such funds are released from Escrow;

 

(xi)           any
Incremental Facility may participate (A) in any voluntary prepayment of Loans as set forth in Section 2.11(a)(i) and
(B) in any mandatory prepayment of Loans as set forth in Section 2.11(b)(vi), in each case, to the extent provided in
such Sections;

 

(xii)          (A) no
Event of Default shall exist immediately prior to or after giving effect to the incurrence or implementation of such Incremental Facility;
provided that notwithstanding the foregoing, in the case of any Incremental Facility incurred or implemented in connection with
any acquisition, Investment or irrevocable payment or redemption of Indebtedness, the condition set forth in this clause (A) shall
require only that no Event of Default under Section 7.01(a), (f) or (g) exist immediately prior to
giving effect to such Incremental Facility and (B) the representations and warranties of the Loan Parties set forth in the Loan Documents
shall be true and correct in all material respects on and as of the date of the effectiveness of such Incremental Facility (after giving
effect to the incurrence or implementation of the relevant Incremental Facility) with the same effect as though such representations and
warranties had been made on and as of the date of the effectiveness of such Incremental Facility; provided, that to the extent
that any representation and warranty specifically refers to a given date or period, it shall be true and correct in all material respects
as of such date or for such period; provided, further, that, any representation and warranty that is qualified as to “materiality,”
 “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein)
in all respects on such respective dates or for such periods; provided, further, that notwithstanding the foregoing in this
clause (B), in the case of any Incremental Facility incurred or implemented in connection with any acquisition or similar Investment,
the condition set forth in this clause (B) shall require only the making and accuracy of the Specified Representations before
giving effect to such acquisition or Investment;

 

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(xiii)         the
proceeds of any Incremental Facility may be used for working capital needs and other general corporate purposes and any other use not
prohibited by this Agreement;

 

(xiv)         on
the date of the Borrowing of any Incremental Loans that will be of the same Class as any then-existing Class of Loans, and
notwithstanding anything to the contrary set forth in Sections 2.08 or 2.13 above, such Incremental Loans shall be added
to (and constitute a part of, be of the same Type as and, at the election of the Borrower, have the same Interest Period as) each Borrowing
of outstanding Loans of such Class on a pro rata basis (based on the relative sizes of such Borrowings), so that each Lender providing
such Incremental Loans will participate proportionately in each then-outstanding Borrowing of Loans of such Class; it being acknowledged
that the application of this clause (a)(xiv) may result in new Incremental Loans having an Interest Period (the duration
of which may be less than one month) that begin during an Interest Period then applicable to outstanding LIBO Rate Loans of the relevant
Class and which end on the last day of such Interest Period; and

 

(xv)          to
the extent that any Incremental Facility does not rank pari passu with any then-existing Class of Loans in right of payment
and security or is unsecured, such Incremental Facility will be documented pursuant to separate documentation from this Agreement (it
being understood and agreed that any “last out” facility that is pari passu with any then-existing Class of Loans
in right of security but which is “last out” with respect to payment priority may be documented hereunder).

 

(b)            Incremental
Commitments may be provided by any existing Lender, or by any other Eligible Assignee (any such other lender being called an “Incremental
Lender”); provided, that the Administrative Agent shall have a right to consent (such consent not to be unreasonably
withheld, conditioned or delayed) to the relevant Incremental Lender’s provision of Incremental Commitments if such consent would
be required under Section 9.05(b) for an assignment of Loans to such Incremental Lender; provided, further,
that any Incremental Lender that is an Affiliated Lender shall be subject to the provisions of Section 9.05(g), mutatis
mutandis, to the same extent as if the relevant Incremental Commitments and related Obligations had been acquired by such Lender
by way of assignment.

 

(c)            Each
Lender or Incremental Lender providing a portion of any Incremental Commitment shall execute and deliver to the Administrative Agent
and the Borrower 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 the relevant Incremental Commitment,
each Incremental Lender shall become a Lender for all purposes in connection with this Agreement.

 

(d)           As
conditions precedent to the effectiveness of any Incremental Facility or the making of any Incremental Loan:

 

(i)             upon
its request, the Administrative Agent shall be entitled to receive customary written opinions of counsel with respect to the Borrower,
as well as such reaffirmation agreements, supplements and/or amendments as it may reasonably require;

 

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(ii)            the
Administrative Agent shall be entitled to receive, from each Incremental Lender, an Administrative Questionnaire and such other documents
as it may reasonably require from such Incremental Lender;

 

(iii)          subject
to Section 2.22(h), the Administrative Agent shall have received a Borrowing Request as if the relevant Incremental Loans
were subject to Section 2.03 or another written request the form of which is reasonably acceptable to the Administrative Agent;
and

 

(iv)          the
Administrative Agent shall be entitled to receive a certificate of the Borrower signed by a Responsible Officer thereof certifying and
attaching a copy of the resolutions adopted by the governing body of the Borrower approving or consenting to such Incremental Facility
or Incremental Loans.

 

(e)            Notwithstanding
anything to the contrary in this Section 2.22 or in any other provision of any Loan Document, the conditions to the availability
or funding of any Incremental Facility shall be determined by the relevant Incremental Lenders providing such Incremental Facility and
the Borrower.

 

(f)            [reserved].

 

(g)           [reserved].

 

(h)           The
Lenders hereby irrevocably authorize the Administrative Agent to, and the Administrative Agent shall (without the consent of any Lender
(other than any Lender providing the applicable Incremental Facility)), enter into any Incremental Facility Amendment and/or any amendment
to any other Loan Document as may be necessary, appropriate or advisable in order to establish any Incremental Facility (including any
new Class or sub-Class in respect of Loans or commitments pursuant to this Section 2.22) including (i) technical
amendments as may be necessary, appropriate or advisable in the reasonable opinion of the Administrative Agent and the Borrower in connection
with the establishment of such new Classes or sub-Classes, in each case on terms consistent with this Section 2.22 and/or
(ii) any other amendment contemplated by Section 9.02(d)(ii). In addition, the Incremental Facility Amendment with respect
to any Incremental Facility may, without the consent of any Lender (other than any Lender providing such Incremental Loans) or the Administrative
Agent, include such amendments to this Agreement as may be necessary, appropriate or advisable as reasonably determined by the Administrative
Agent and the Borrower to make the applicable Incremental Loans “fungible” with the relevant existing Class of Loans
(including by modifying the amortization schedule and/or extending the time period during which any prepayment premium applies).

 

(i)            This
Section 2.22 shall supersede any provision in Section 2.18 or 9.02 to the contrary.

 

Section 2.23.          Extensions
of Loans.

 

(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 Borrower to all Lenders holding Loans of any Class or Commitments of any Class, in each case on a pro rata basis
(based on the aggregate outstanding principal amount of the respective Loans or Commitments of such Class) and on the same terms to each
such Lender, the Borrower is hereby permitted to consummate transactions with any individual Lender who accepts the terms contained in
the relevant Extension Offer to extend the Maturity Date of all or a portion of such Lender’s Loans and/or Commitments of such
Class and otherwise modify the terms of all or a portion of such Loans and/or Commitments pursuant to the terms of the relevant
Extension Offer (including by increasing the interest rate or fees payable in respect of such Loans and/or Commitments (and related outstandings)
and/or modifying the amortization schedule, if any, in respect of such Loans) (each, an “Extension”; it being understood
that any Extended Loans shall constitute a separate Class of Loans from the Class of Loans from which they were converted,
so long as the following terms are satisfied:

 

(i)             [reserved];

 

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(ii)           except
as to (A) currency, pricing (including any “MFN” or other pricing term), interest rate margins, rate floors, fees, funding
discounts, amortization, final maturity date, premium (including prepayment premiums), required prepayment dates and participation in
prepayments (which shall, subject to immediately succeeding clauses (iii), (iv) and (v), be determined by the
Borrower and any Lender who agrees to an Extension of its Loans and set forth in the relevant Extension Offer), (B) terms applicable
to such Extended Loans (as defined below) that are, taken as a whole, in the good faith determination of the Borrower, more favorable
to the lenders or the agent of such Extended Loans than those contained in the Loan Documents applicable to the relevant Loans and are
then conformed (or added) to the Loan Documents for the benefit of the Lenders in respect of such Loans or, as applicable, the Administrative
Agent (i.e., by conforming or adding a term to the then-outstanding Loans of the applicable Class pursuant to the applicable
Extension Amendment), (C) terms, taken as a whole, that reflect then current market terms and conditions, taken as a whole, at the
time of incurrence or issuance (as determined by the Borrower) and (D) any covenant or other provision applicable only to any period
after the Latest Maturity Date (in each case, as of the date of such Extension), the Loans of any Lender extended pursuant to any Extension
(any such extended Loans, the “Extended Loans”) shall have substantially consistent terms (or terms not less favorable
to existing Lenders) as the tranche of Loans subject to the relevant Extension Offer;

 

(iii)           the
final maturity date of any Extended Loans may be no earlier than the then applicable Latest Maturity Date at the time of Extension;

 

(iv)          the
Weighted Average Life to Maturity of any Class of Extended Loans shall be no shorter than the remaining Weighted Average Life to
Maturity of any then-existing Loans;

 

(v)           subject
to clauses (iii) and (iv) above, any Extended Loans may otherwise have an amortization schedule as determined
by the Borrower and the Lenders providing such Extended Loans;

 

(vi)          any
Class of Extended Loans may participate (A) in any voluntary prepayment of Loans as set forth in Section 2.11(a)(i) and
(B) in any mandatory prepayment of Loans as set forth in Section 2.11(b)(vi), in each case, to the extent provided in
such Sections;

 

(vii)         if
the aggregate principal amount of Loans or Commitments, as the case may be, in respect of which Lenders have accepted the relevant Extension
Offer exceed the maximum aggregate principal amount of Loans or Commitments, as the case may be, offered to be extended by the Borrower
pursuant to such Extension Offer, then the Loans or Commitments, as the case may be, of such Lenders shall be extended ratably up to
such maximum amount based on the respective principal amounts (but not to exceed the applicable Lender’s actual holdings of record)
with respect to which such Lenders have accepted such Extension Offer;

 

(viii)        unless
the Administrative Agent otherwise agrees, any Extension must be in a minimum amount of $5,000,000;

 

(ix)           any
applicable Minimum Extension Condition must be satisfied or waived by the Borrower; and

 

(x)            any
documentation in respect of any Extension shall be consistent with the foregoing.

 

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(b)           (i) No
Extension consummated in reliance on this Section 2.23 shall constitute a voluntary or mandatory prepayment for purposes
of Section 2.11 and (ii) except as set forth in clause (a)(viii) above, no Extension Offer is required to
be in any minimum amount or any minimum increment; provided that the Borrower may at its election specify as a condition (a “Minimum
Extension Condition”) to the consummation of any Extension that a minimum amount (to be specified in the relevant Extension
Offer in the Borrower’s sole discretion) of Loans or Commitments (as applicable) of any or all applicable tranches be tendered;
it being understood that the Borrower may, in its sole discretion, waive any such Minimum Extension Condition. The Administrative Agent
and the Lenders hereby consent to the transactions contemplated by this Section 2.23 (including, for the avoidance of doubt,
the payment of any interest, fees or premium in respect of any Extended 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 (including Sections 2.10, 2.11 and/or 2.18)
or any other Loan Document that may otherwise prohibit any such Extension or any other transaction contemplated by this Section.

 

(c)            No
consent of any Lender or the Administrative Agent shall be required to effectuate any Extension, other than the consent of each Lender
agreeing to such Extension with respect to one or more of its Loans and/or Commitments of any Class (or a portion thereof). All
Extended Loans and all obligations in respect thereof shall constitute Secured Obligations under this Agreement and the other Loan Documents
that are secured by the Collateral and guaranteed on a pari passu basis with all other applicable Secured Obligations under this
Agreement and the other Loan Documents. The Lenders hereby irrevocably authorize the Administrative Agent to enter into any Extension
Amendment and any amendment to any of the other Loan Documents with the Loan Parties as may be necessary in order to establish new Classes
or sub-Classes in respect of Loans or Commitments so extended and such technical amendments as may be necessary or appropriate in the
reasonable opinion of the Administrative Agent and the Borrower in connection with the establishment of such new Classes or sub-Classes,
in each case on terms consistent with this Section 2.23.

 

(d)            In
connection with any Extension, the Borrower shall provide the Administrative Agent at least five Business Days’ (or such shorter
period as may be agreed by the Administrative Agent) prior written notice thereof, and shall agree to such procedures (including regarding
timing, rounding and other adjustments and to ensure reasonable administrative management of the credit facilities hereunder after such
Extension), 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 2.23.

 

ARTICLE 3

 

REPRESENTATIONS AND WARRANTIES

 

On the dates and to the extent
required pursuant to Sections 4.01, the Borrower hereby represents and warrants to the Lenders and the Administrative Agent that:

 

Section 3.01.          Organization;
Powers. Holdings, the Borrower and each of its Restricted Subsidiaries (a) is (i) duly organized or incorporated (as applicable)
and validly existing and (ii) in good standing (to the extent such concept exists in the relevant jurisdiction) under the Requirements
of Law of its jurisdiction of organization, (b) has all requisite organizational power and authority to own its assets and to carry
on its business as now conducted and (c) is qualified to do business in, and is in good standing (to the extent such concept exists
in the relevant jurisdiction) in, every jurisdiction where the ownership, lease or operation of its properties or conduct of its business
requires such qualification, except, in each case referred to in this Section 3.01 (other than clause (a)(i) and
clause (b), in each case, with respect to the Borrower) where the failure to do so, individually or in the aggregate, would not
reasonably be expected to result in a Material Adverse Effect.

 

Section 3.02.          Authorization;
Enforceability. The execution, delivery and performance by each Loan Party of each Loan Document to which such Loan Party is a party
(a) are within such Loan Party’s corporate or other organizational power and (b) have been duly authorized by all necessary
corporate or other organizational action of such Loan Party. Each Loan Document to which any Loan Party is a party has been duly executed
and delivered by such Loan Party and is a legal, valid and binding obligation of such Loan Party, enforceable in accordance with its
terms, subject to the Legal Reservations.

 

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Section 3.03.           Governmental
Approvals; No Conflicts. The execution and delivery of each Loan Document by each Loan Party party thereto and the performance by
such Loan Party of its obligations thereunder (a) do not require any consent or approval of, registration or filing with, or any
other action by, any Governmental Authority, except (i) such as have been obtained or made and are in full force and effect, (ii) in
connection with the Perfection Requirements and (iii) such consents, approvals, registrations, filings, or other actions the failure
to obtain or make which would not be reasonably expected to have a Material Adverse Effect, (b) will not violate any (i) of
such Loan Party’s Organizational Documents or (ii) Requirement of Law applicable to such Loan Party which violation, in the
case of this clause (b)(ii), would reasonably be expected to have a Material Adverse Effect and (c) will not violate or result
in a default under any material Contractual Obligation to which such Loan Party is a party which violation, in the case of this clause
(c), would reasonably be expected to result in a Material Adverse Effect.

 

Section 3.04.           Financial
Condition; No Material Adverse Effect.

 

(a)            The
financial statements most recently provided pursuant to Section 5.01(a) or (b), as applicable, present fairly,
in all material respects, the financial position and results of operations and cash flows of the Borrower on a consolidated basis as of
such dates and for such periods in accordance with GAAP, (i) except as otherwise expressly noted herein, (ii) subject, in the
case of quarterly financial statements, to the absence of footnotes and normal year-end adjustments and (iii) if applicable, except
as may be necessary to reflect any differing entities and/or organizational structure prior to giving effect to the Transactions.

 

(b)            Since
the Closing Date, there have been no events, developments or circumstances that have had, or would reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect that is continuing.

 

Section 3.05.           Properties.

 

(a)            As
of the Closing Date, Schedule 3.05 sets forth the address of each Real Estate Asset (or each set of such assets that collectively
comprise one operating property) that is owned in fee simple by any Loan Party.

 

(b)            Holdings,
the Borrower and each of its Restricted Subsidiaries have good and valid fee simple title to or rights to purchase, or valid leasehold
interests in, or easements or other limited property interests in, all of their respective Real Estate Assets and have good and valid
title to their personal property and assets, including the Collateral, in each case, except (i) for defects in title that do not
materially interfere with their ability to conduct their business as currently conducted or to utilize such properties and assets for
their intended purposes, (ii) for any Lien permitted under Section 6.02 hereof, or (iii) where the failure to have
such title would not reasonably be expected to have a Material Adverse Effect.

 

(c)            Holdings,
the Borrower and its Restricted Subsidiaries own or otherwise have a license or right to use all rights in Patents, Trademarks, Copyrights
and other rights in works of authorship (including all copyrights embodied in software) and all other intellectual property rights (“IP
Rights”) that are reasonably necessary to conduct their respective businesses as presently conducted without, to the knowledge
of the Borrower, any infringement or misappropriation of the IP Rights of third parties, except to the extent the failure to own or license
or have rights to use would not, or where such infringement or misappropriation would not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect.

 

Section 3.06.           Litigation
and Environmental Matters.

 

(a)            There
are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of the
Borrower, threatened in writing against or affecting Holdings, the Borrower or any of its Restricted Subsidiaries which would reasonably
be expected, individually or in the aggregate, to result in a Material Adverse Effect.

 

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(b)            Except
for any matters that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, (i) neither
Holdings, the Borrower nor any of its Restricted Subsidiaries is subject to, or has received notice of, any Environmental Claim or Environmental
Liability or knows of any basis for any Environmental Liability or Environmental Claim of Holdings, the Borrower or any of its Restricted
Subsidiaries and (ii) neither Holdings, the Borrower nor any of its Restricted Subsidiaries has failed to comply with any Environmental
Law or to obtain, maintain or comply with any Governmental Authorization, permit, license or other approval required under any Environmental
Law.

 

(c)            Neither
Holdings, the Borrower nor any of its Restricted Subsidiaries has treated, stored, transported or Released any Hazardous Materials on,
at, under or from any currently or formerly owned, leased or operated real estate or facility in a manner that would reasonably be expected
to have a Material Adverse Effect.

 

Section 3.07.           Compliance
with Laws. Each of Holdings, the Borrower and each of its Restricted Subsidiaries is in compliance with all Requirements of Law applicable
to it or its property, except, in each case where the failure to do so, individually or in the aggregate, would not reasonably be expected
to result in a Material Adverse Effect; it being understood and agreed that this Section 3.07 shall not apply to the Requirements
of Law covered by Section 3.17 below.

 

Section 3.08.           Investment
Company Status. No Loan Party is an “investment company” as defined in, or is required to be registered under, the Investment
Company Act of 1940.

 

Section 3.09.           Taxes.
Each of Holdings, the Borrower and each of its Restricted Subsidiaries has timely filed or caused to be filed all Tax returns and reports
required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it that are due and payable (including
in its capacity as a withholding agent), except (a) Taxes that are not required to be paid in accordance with Section 5.03,
(b) Taxes (or any requirement to file Tax returns with respect thereto) that are being contested in good faith by appropriate proceedings
and for which Holdings, the Borrower or such Restricted Subsidiary, as applicable, has set aside on its books adequate reserves in accordance
with GAAP or (c) to the extent that the failure to do so, individually or in the aggregate, would not reasonably be expected to result
in a Material Adverse Effect.

 

Section 3.10.           ERISA.

 

(a)            Each
Plan is in compliance in form and operation with its terms and with ERISA and the Code and all other applicable Requirements of Law, except
where any failure to comply would not reasonably be expected to result in a Material Adverse Effect.

 

(b)            In
the five-year period prior to the date on which this representation is made or deemed made, no ERISA Event has occurred and is continuing
that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, would reasonably be expected
to result in a Material Adverse Effect.

 

Section 3.11.           Disclosure.

 

(a)            As
of the Closing Date, with respect to information relating to the Borrower and its subsidiaries, to the knowledge of the Borrower, all
written information (other than the Projections, forecasts, financial estimates, other forward-looking information and/or projected information,
information of a general economic or industry-specific nature and/or any third party report and/or memorandum (but not the written information
(other than Projections, forecasts, financial estimates, other forward looking information and/or projected information and/or general
economic or industry-specific information) on which such third party report and/or memorandum was based, if such written information was
provided to any Initial Lender or the Administrative Agent)) concerning Holdings, the Borrower and its subsidiaries that was prepared
by or on behalf of Holdings, the Borrower or its subsidiaries or their respective representatives and made available to any Initial Lender
or the Administrative Agent in connection with the Transactions on or before the Closing Date (collectively, the “Information”),
when taken as a whole, did not, when furnished, 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
were made (after giving effect to all supplements and updates thereto from time to time).

 

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(b)            As
of the Closing Date, the Projections have been prepared in good faith based upon assumptions believed by the Borrower to be reasonable
at the time furnished (it being recognized that such Projections are not to be viewed as facts and are subject to significant uncertainties
and contingencies (and such uncertainties and contingencies may be exacerbated by the current environment, including the rapidly evolving
nature of the global Coronavirus (COVID-19) pandemic and the related impact thereof on, among other things, the global macro economy,
the industry in which we operate and our business) many of which are beyond the Borrower's control, that no assurance can be given that
any particular financial projections will be realized, that actual results may differ from projected results and that such differences
may be material).

 

Section 3.12.           Solvency.
As of the Closing Date, after giving effect to the Transactions and the incurrence of the Indebtedness and obligations being incurred
in connection with this Agreement on the Closing Date, (i) the sum of the debt (including contingent liabilities) of the Borrower
and its Restricted Subsidiaries, taken as a whole, does not exceed the fair value of the assets of the Borrower and its Restricted Subsidiaries,
taken as a whole, (ii) the capital of the Borrower and its Restricted Subsidiaries, taken as a whole, is not unreasonably small in
relation to the business of the Borrower and its Restricted Subsidiaries, taken as a whole, contemplated as of the Closing Date; and (iii) the
Borrower and its Restricted Subsidiaries, taken as a whole, do not intend to incur, or believe that they will incur, debts (including
current obligations and contingent liabilities) beyond their ability to pay such debts as they mature in accordance with their terms.
For purposes of this Section 3.12, (A) it is assumed that the Indebtedness and other obligations under the Term Facility
and the First Lien Facility will come due at their respective maturities and (B) the amount of any contingent liability at any time
shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that
can reasonably be expected to become an actual or matured liability.

 

Section 3.13.           Subsidiaries.
Schedule 3.13 sets forth, in each case as of the Closing Date, (a) a correct and complete list of the name of Holdings, the
Borrower, each subsidiary of the Borrower and the ownership interest therein held by Holdings, the Borrower or its applicable subsidiary,
and (b) the type of entity of Holdings, the Borrower and each of its subsidiaries.

 

Section 3.14.           Security
Interest in Collateral. Subject to the terms of the final paragraph of Section 4.01, the Legal Reservations, the Perfection
Requirements and the provisions, limitations and/or exceptions set forth in this Agreement and/or any other Loan Document, the Collateral
Documents create legal, valid and enforceable Liens on all of the Collateral in favor of the Administrative Agent, for the benefit of
itself and the other Secured Parties, and upon the satisfaction of the applicable Perfection Requirements and/or any other perfection
action required under the terms of any Loan Document, such Liens constitute perfected Liens (with the priority that such Liens are expressed
to have under the relevant Collateral Documents, unless otherwise permitted hereunder or under any Collateral Document) on the Collateral
(to the extent such Liens are then required to be perfected under the terms of the Loan Documents) securing the Secured Obligations, in
each case as and to the extent set forth therein.

 

For the avoidance of doubt,
notwithstanding anything herein or in any other Loan Document to the contrary, neither the Borrower nor any other Loan Party makes any
representation or warranty as to (A) the effect of perfection or non-perfection, the priority or the enforceability of any pledge
of or security interest in the Capital Stock held by any Loan Party in any Person organized under the laws of any jurisdiction other than
the jurisdiction in which such Loan Party is organized, or as to the rights and remedies of the Administrative Agent or any Lender with
respect thereto, under the Requirements of Law of any jurisdiction other than the jurisdiction in which such Loan Party is organized,
(B) the enforcement of any security interest, or right or remedy with respect to any Collateral that may be limited or restricted
by, or require any consent, authorization approval or license under, any Requirement of Law or (C) on the Closing Date and until
required pursuant to Section 5.12, the pledge or creation of any security interest, or the effects of perfection or non-perfection,
the priority or enforceability of any pledge or security interest to the extent the same is not required on the Closing Date.

 

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Section 3.15.           Labor
Disputes. Except as individually or in the aggregate would not reasonably be expected to have a Material Adverse Effect, (a) there
are no strikes, lockouts or slowdowns against Holdings, the Borrower or any of its Restricted Subsidiaries pending or, to the knowledge
of Holdings, the Borrower or any of its Restricted Subsidiaries, threatened and (b) the hours worked by and payments made to employees
of Holdings, the Borrower and its Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable
Requirement of Law dealing with such matters.

 

Section 3.16.           Federal
Reserve Regulations. No part of the proceeds of any Loan have been used, whether directly or indirectly, and whether immediately,
incidentally or ultimately, for any purpose that results in a violation of the provisions of Regulation U.

 

Section 3.17.          OFAC;
PATRIOT ACT and FCPA.

 

(a)            (i) None
of Holdings, the Borrower nor any of its Restricted Subsidiaries nor, to the knowledge of the Borrower, any director, officer or employee
of any of the foregoing is subject to any US sanctions administered by the Office of Foreign Assets Control of the US Treasury Department
(“OFAC”); and (ii) the Borrower will not directly or, to its knowledge, indirectly, use the proceeds of the Loans
or otherwise make available such proceeds to any Person for the purpose of financing the activities of any Person that is subject to any
US sanction administered by OFAC, except to the extent licensed or otherwise approved by OFAC or in compliance with applicable exemptions
licenses or other approvals.

 

(b)            To
the extent applicable, each Loan Party is in compliance, in all material respects, with the USA PATRIOT Act.

 

(c)            Neither
Holdings, the Borrower nor any of its Restricted Subsidiaries nor, to the knowledge of the Borrower, any director, officer, agent (solely
to the extent acting in its capacity as an agent for Holdings, the Borrower or any of its subsidiaries) or employee of Holdings, the Borrower
or any Restricted Subsidiary, has taken any action, directly or, to its knowledge, indirectly, that would result in a material violation
by any such Person of the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”), including, without limitation,
making any offer, payment, promise to pay or authorization or approval of the payment of any money, or other property, gift, promise to
give or authorization of the giving of anything of value, directly or indirectly, to any “foreign official” (as such term
is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in each case
in contravention of the FCPA; and (ii) the Borrower has not directly or, to its knowledge, indirectly, used the proceeds of the Loans
or otherwise made available such proceeds to any governmental official or employee, political party, official of a political party, candidate
for public office or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper
advantage in violation of the FCPA.

 

The representations and warranties
set forth in Section 3.17 above made by or on behalf of any Foreign Subsidiary are subject to and limited by any Requirement
of Law applicable to such Foreign Subsidiary; it being understood and agreed that to the extent that any Foreign Subsidiary is unable
to make any such representation or warranty set forth in Section 3.17 as a result of the application of this sentence, such
Foreign Subsidiary shall be deemed to have represented and warranted that it is in compliance, in all material respects, with any equivalent
Requirement of Law relating to anti-terrorism, anti-corruption or anti-money laundering that is applicable to such Foreign Subsidiary
in its relevant local jurisdiction of organization.

 

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ARTICLE 4

 

CONDITIONS

 

Section 4.01.           Closing
Date. The obligation of each Lender to make Loans on the Closing Date, shall not become effective until the date on which each of
the following conditions is satisfied (or waived in accordance with Section 9.02):

 

(a)            Credit
Agreement and Loan Documents. The Administrative Agent (or its counsel) shall have received from the Borrower and each Loan Party,
to the extent party thereto, (i) a counterpart signed by the Borrower or such Loan Party (or written evidence reasonably satisfactory
to the Administrative Agent (which may include a copy transmitted by facsimile or other electronic method) that such party has signed
a counterpart) of (A) this Agreement and the Initial Intercreditor Agreement and (B) each Promissory Note requested by a Lender
at least three Business Days prior to the Closing Date and (ii) a Borrowing Request as required by Section 2.03.

 

(b)            Legal
Opinions. The Administrative Agent (or its counsel) shall have received, on behalf of itself and the Lenders on the Closing Date,
(i) a customary written opinion of Weil, Gotshal & Manges LLP, in its capacity as special counsel for Holdings and the Loan
Parties and (ii) customary written opinions of local counsel to the Loan Parties organized in the jurisdictions set forth on Schedule
4.01(b), each dated the Closing Date and addressed to the Administrative Agent and the Lenders.

 

(c)            Financial
Statements. The Administrative Agent shall have received:

 

(i)             the
audited consolidated balance sheet of the Borrower for the Fiscal Year ended on January 2, 2021 and the audited consolidated statements
of income and cash flows of the Borrower for the Fiscal Year then ended; and

 

(ii)            the
unaudited consolidated balance sheet and the unaudited consolidated statements of income and cash flows of the Borrower for the Fiscal
Quarter ended on April 3, 2021.

 

(iii)            a
pro forma consolidated balance sheet and the related consolidated statement of income for the Borrower as of and for, as applicable, the
12-month period ended April 3, 2021, prepared in good faith after giving effect to the Transactions as if the Transactions had occurred
as of such date (in the case of such balance sheet) or at the beginning of such period (in the case of such statement of income); provided
that it is understood and agreed that the pro forma financial statements required by this clause (c)(iii) shall not be required
to include adjustments for purchase accounting (including adjustments of the type contemplated by Financial Accounting Standards Board
Accounting Standard Codification 805, Business Combinations (formerly SFAS 141R));

 

(d)            Secretary’s
Certificate and Good Standing Certificates of Loan Parties. The Administrative Agent (or its counsel) shall have received:

 

(i)             a
certificate of each Loan Party on the Closing Date, dated the Closing Date and executed by a Responsible Officer, which shall:

 

(A)            certify
that attached thereto is a true and complete copy of the resolutions, written consents or extracts of minutes of a meeting, as applicable,
of its board of directors, board of managers, supervisory board, shareholders, members or other governing body (as the case may be and
in each case, to the extent required) authorizing the execution, delivery and performance of the Loan Documents to which it is a party
and, in the case of the Borrower, the borrowings hereunder, and that such resolutions or written consents have not been modified, rescinded
or amended and are in full force and effect,

 

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(B)            identify
by name and title and bear the signatures of the Responsible Officer or authorized signatory of such Loan Party on the Closing Date that
is authorized to sign the Loan Documents to which it is a party on the Closing Date, as applicable, and

 

(C)            certify
(I) that attached thereto is a true and complete copy of the certificate or articles of incorporation or organization (or memorandum
of association, articles of association or other equivalent thereof) of each Loan Party on the Closing Date (certified by the relevant
authority of the jurisdiction of organization of such Loan Party) and a true and correct copy of its by-laws or operating, management,
partnership or similar agreement (to the extent applicable) and (II) that such documents or agreements have not been amended (except
as otherwise attached to such certificate and certified therein as being the only amendments thereto as of such date), and

 

(ii)       a
good standing certificate (or equivalent), dated as of a recent date for each such Loan Party from the relevant office of its jurisdiction
of organization (to the extent available in the jurisdiction of organization of such Loan Party).

 

(e)            Representations
and Warranties. The representations and warranties of the Loan Parties set forth in this Agreement and the other Loan Documents shall
be true and correct in all material respects on and as of the Closing Date; provided, that (i) to the extent that any representation
and warranty specifically refers to a given date or period, it shall be true and correct in all material respects as of such date or for
such period and (ii) to the extent that any representation and warranty is qualified by or subject to a “material adverse effect”,
 “material adverse change” or similar term or qualification, the same shall be true and correct in all respects.

 

(f)            Fees.
Prior to or substantially concurrently with the funding of the Initial Loans hereunder, the Administrative Agent shall have received (i) all
fees required to be paid by the Borrower on the Closing Date pursuant to the Fee Letters and (ii) all expenses required to be paid
by the Borrower for which invoices have been presented at least three Business Days prior to the Closing Date or such later date to which
the Borrower may agree (including the reasonable fees and expenses of legal counsel required to be paid), in each case on or before the
Closing Date, which amounts may be offset against the proceeds of the Loans.

 

(g)            Closing
Date Refinancing. Substantially concurrently with the initial funding of the Loans hereunder, including by use of the proceeds thereof,
the Closing Date Refinancing shall be consummated and the Administrative Agent shall have received a customary payoff letter providing
for the release of liens securing the obligations under the Existing Credit Agreement (to the extent required by the definition of “Closing
Date Refinancing”) upon the consummation of the Closing Date Refinancing.

 

(h)            No
Default or Event of Default. At the time of and immediately after giving effect to the making of the Loans to be made on the Closing
Date, no Default or Event of Default has occurred and is continuing.

 

(i)             Solvency.
The Administrative Agent (or its counsel) shall have received a certificate in substantially the form of Exhibit P from a
Responsible Officer of the Borrower dated as of the Closing Date and certifying as to the matters set forth therein.

 

(j)             Perfection
Certificate. The Administrative Agent (or its counsel) shall have received a completed Perfection Certificate dated the Closing Date
and signed by a Responsible Officer of the Borrower, together with all attachments contemplated thereby.

 

(k)            Filings
Registrations and Recordings. Subject to the final paragraph of this Section 4.01 and except as may otherwise be agreed
by the Administrative Agent, the requirements set forth in clause (a) of the definition of “Collateral and Guarantee
Requirement” shall be satisfied.

 

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(l)             First
Lien Credit Agreement. The “Loan Documents” (as defined in the First Lien Credit Agreement) required by the terms of the
First Lien Credit Agreement to be executed on the Closing Date shall have been, or substantially concurrently with the making of the Loans
hereunder on the Closing Date shall be, duly executed and delivered by each Loan Party that is party thereto.

 

(m)            Material
Adverse Effect. Since January 2, 2021, there shall not have occurred a Material Adverse Effect.

 

(n)            USA
PATRIOT Act. No later than three Business Days in advance of the Closing Date, the Administrative Agent shall have received all documentation
and other information reasonably requested with respect to any Loan Party in writing by any Initial Lender at least 10 Business Days in
advance of the Closing Date, which documentation or other information is required by regulatory authorities under applicable “know
your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act.

 

(o)            Beneficial
Ownership Certification. To the extent the Borrower qualifies as a “legal entity customer” under the Beneficial Ownership
Regulation, no later than three Business Days in advance of the Closing Date, the Administrative Agent shall have received a Beneficial
Ownership Certification in relation to the Borrower to the extent reasonably requested by it at least 10 Business Days in advance of the
Closing Date.

 

(p)            Officer’s
Certificate. The Administrative Agent shall have received a certificate from a Responsible Officer of the Borrower certifying the
satisfaction of the conditions precedent set forth in Sections 4.01(e), (h) and (m).

 

For purposes of determining
whether the conditions specified in this Section 4.01 have been satisfied on the Closing Date, by funding the Loans hereunder,
the Administrative Agent and each Lender shall be deemed to have consented to, approved or accepted, or to be satisfied with, each document
or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to the Administrative Agent or such
Lender, as the case may be.

 

Notwithstanding the foregoing,
to the extent that the Lien on any Collateral is not or cannot be created or perfected on the Closing Date (other than, to the extent
required herein or in the other Loan Documents, the creation and perfection of a Lien on Collateral that is of the type that may be perfected
by the filing of a Form UCC-1 financing statement under the UCC), then the creation and/or perfection of such Lien shall not constitute
a condition precedent to the availability or initial funding of the Term Facility on the Closing Date, but may instead be delivered or
perfected within the time period set forth in Section 5.15 (or such later date as the Administrative Agent may reasonably
agree).

 

ARTICLE 5

 

AFFIRMATIVE COVENANTS

 

From the Closing Date until
the date on which all Commitments have expired or terminated and the principal of and interest on each Loan and all fees, expenses and
other amounts payable under any Loan Document (other than contingent indemnification obligations for which no claim or demand has been
made) have been paid in full in the manner prescribed by Section 2.18 (such date, the “Termination Date”),
Holdings (solely to the extent applicable to it) and the Borrower hereby covenant and agree with the Lenders and the Administrative Agent
that:

 

Section 5.01.           Financial
Statements and Other Reports. The Borrower will deliver to the Administrative Agent for delivery by the Administrative Agent, subject
to Section 9.05(f), to each Lender:

 

(a)            Quarterly
Financial Statements. Within 60 days (or, with respect to any Fiscal Quarter during which (A) the Borrower or any subsidiary
has consummated a material (in the good faith determination of the Borrower) acquisition or similar Investment or (B) a material
(in the good faith determination of the Borrower) accounting change has occurred, 90 days) after the end of each of the first three Fiscal
Quarters of each Fiscal Year, commencing with the Fiscal Quarter ending on or about June 30, 2021, the consolidated balance sheet
of the Borrower as at the end of such Fiscal Quarter and the related consolidated statements of income or operations and cash flows of
the Borrower for such Fiscal Quarter and for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter,
and setting forth, in reasonable detail, in comparative form the corresponding figures for the corresponding periods of the previous Fiscal
Year, all in reasonable detail; provided, that any comparison against the corresponding figures from the corresponding period in
any prior Fiscal Year may reflect the financial results of any applicable predecessor entity; 

 

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(b)            Annual
Financial Statements. Within 150 days (or, with respect to any Fiscal Year during which either (A) the Borrower or any subsidiary
has consummated a material (in the good faith determination of the Borrower) acquisition or similar Investment or (B) a material
(in the good faith determination of the Borrower) accounting change has occurred, 180 days) after the end of each Fiscal Year ending after
the Closing Date, (i) the consolidated balance sheet of the Borrower as at the end of such Fiscal Year and the related consolidated
statements of income or operations and cash flows of the Borrower for such Fiscal Year and setting forth, in reasonable detail, in comparative
form the corresponding figures for the previous Fiscal Year (it being understood and agreed that no such comparison shall be required
if (A) the relevant independent certified public accountant is not willing to provide the same or (B) the corresponding figures
from the previous Fiscal Year are not available) and (ii) with respect to such consolidated financial statements, a report thereon
of an independent certified public accountant of recognized national standing (which report shall not be subject to (A) a “going
concern” qualification (but not a “going concern” explanatory paragraph or like statement) (except as resulting from,
in the good faith determination of the Borrower, (1) the impending maturity of any Indebtedness, (2) the breach or anticipated
breach of any financial covenant and/or (3) the activities, operations, financial results, assets or liabilities of any Unrestricted
Subsidiary) or (B) a qualification as to the scope of the relevant audit), and shall state that such consolidated financial statements
fairly present, in all material respects, the consolidated financial position of the Borrower as at the dates indicated and its results
of operations and cash flows for the periods indicated in conformity with GAAP;

 

(c)            Compliance
Certificate. Together with each delivery of financial statements pursuant to Sections 5.01(a) and (b), (i) a
duly executed and completed Compliance Certificate and (ii) (A) a summary of the pro forma adjustments (if any) necessary to
eliminate the accounts of Unrestricted Subsidiaries (if any) from such financial statements and (B) a list identifying each Unrestricted
Subsidiary as of the last day of the Fiscal Quarter covered by such Compliance Certificate or confirmation that there is no change in
such information since the later of the Closing Date and the date of the last such list delivered pursuant to this clause (ii)(B);

 

(d)            [Reserved];

 

(e)             Notice
of Default; Notice of Material Adverse Effect. Promptly upon any Responsible Officer of the Borrower obtaining knowledge of (i) any
Default or Event of Default or (ii) the occurrence of any event or change that has caused or evidences or would reasonably be expected
to cause or evidence, either individually or in the aggregate, a Material Adverse Effect, a reasonably-detailed written notice specifying
the nature and period of existence of such condition, event or change and what action the Borrower has taken, is taking and proposes to
take with respect thereto;

 

(f)             Notice
of Litigation. Promptly upon any Responsible Officer of the Borrower obtaining knowledge of (i) the institution of, or threat
of, any Adverse Proceeding not previously disclosed in writing by the Borrower to the Administrative Agent, or (ii) any material
development in any Adverse Proceeding that, in the case of either of clauses (i) or (ii), would reasonably be expected
to have a Material Adverse Effect, written notice thereof from the Borrower together with such other non-privileged information as may
be reasonably available to the Loan Parties to enable the Lenders to evaluate such matters;

 

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(g)            ERISA.
Promptly upon any Responsible Officer of the Borrower becoming aware of the occurrence of any ERISA Event that would reasonably be expected
to have a Material Adverse Effect, a written notice specifying the nature thereof from the Borrower;

 

(h)            Financial
Plan. Together with each delivery of financial statements pursuant to Sections 5.01(b) for the preceding fiscal year,
an annual consolidated financial budget prepared by management of the Borrower; provided, that notwithstanding the foregoing, no
such financial budget shall be required at any time following a Public Company Transaction;

 

(i)             Information
Regarding Collateral. Within 90 days of the relevant change (or such later date to which the Administrative Agent may agree in its
reasonable discretion), written notice (i) with respect to Holdings, the Borrower or any other Loan Party that is a Domestic Subsidiary,
of any change in (A) such Loan Party’s legal name, (B) such Loan Party’s type of organization, (C) such Loan
Party’s jurisdiction of organization or (D) such Loan Party’s organizational identification number, in each case, to
the extent such information is necessary to enable the Administrative Agent to perfect or maintain the perfection and priority of its
security interest in the Collateral of the relevant Loan Party, together with a certified copy of the applicable Organizational Document
reflecting the relevant change, and (ii) with respect to any Loan Party that is a Discretionary Guarantor, such types of changes
affecting the perfection or priority of the Administrative Agent’s security interest in the applicable Collateral of such Discretionary
Guarantor as the Borrower and the Administrative Agent have agreed in connection with such Loan Party becoming a Discretionary Guarantor;
and

 

(j)             Certain
Reports. Promptly upon their becoming available and without duplication of any obligation with respect to any such information that
is otherwise required to be delivered under the provisions of any Loan Document, copies of (i) following a Public Company Transaction,
all financial statements, reports, notices and proxy statements sent or made available generally by the Borrower, Holdings or its applicable
Parent Company to all of its security holders acting in such capacity and (ii) all regular and periodic reports and all registration
statements (other than on Form S-8 or a similar form) and prospectuses, if any, publicly filed by the Borrower, Holdings or its applicable
Parent Company with any securities exchange or with the SEC or any analogous Governmental Authority or private regulatory authority with
jurisdiction over matters relating to securities, in each case other than any prospectus relating to any equity plan; and

 

(k)            Other
Information. Such customary additional information (financial or otherwise) that is readily available to the Borrower as the Administrative
Agent may reasonably request from time to time regarding the financial condition or business of the Borrower and its Restricted Subsidiaries;
provided, that none of Holdings, the Borrower nor any Restricted Subsidiary shall be required to disclose or provide any information
(i) that constitutes a non-financial trade secret or non-financial proprietary information of any Person, (ii) in respect of
which disclosure to the Administrative Agent or any Lender (or any of their respective representatives) is prohibited by applicable Requirements
of Law, (iii) that is subject to attorney-client or similar privilege or constitutes attorney work product or (iv) in respect
of which Holdings, the Borrower or any Restricted Subsidiary owes confidentiality obligations to any third party (provided, such
confidentiality obligations were not entered into in contemplation of the requirements of this Section 5.01(k)); provided,
that in the event that such information has not been provided in reliance on clause (iii) and/or (iv) above, notice
that information is being withheld must be provided to the Administrative Agent.

 

Documents required to be delivered
pursuant to this Section 5.01 may be delivered electronically and if so delivered, shall be deemed to have been delivered
on the date (i) on which the Borrower (or a representative thereof) (A) posts such documents or (B) provides a link thereto
at the website address listed on Schedule 9.01; provided that, other than with respect to items required to be delivered
pursuant to Section 5.01(k) above, the Borrower shall promptly notify (which notice may be by facsimile or electronic
mail) the Administrative Agent of the posting of any such document at the website address listed on Schedule 9.01 and provide to
the Administrative Agent an electronic version (i.e., a soft copy) of any such document by electronic mail (which Schedule 9.01
may be updated from time to time); (ii) (A) on which such documents are delivered by the Borrower to the Administrative Agent
for posting on behalf of the Borrower on IntraLinks/‌SyndTrak or another relevant website (the “Platform”), if
any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by
the Administrative Agent) or (B) on which the relevant documents are electronically mailed or otherwise transmitted to the Administrative
Agent in a manner to which the Administrative Agent may reasonably agree or (iii) after the consummation of a Public Company Transaction,
in respect of the items required to be delivered pursuant to Section 5.01(a), (b) and/or (j) above,
on which such items have been made available on the SEC website or the website of the relevant analogous governmental or private regulatory
authority or securities exchange (including, for the avoidance of doubt, by way of “EDGAR”).

 

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Notwithstanding the foregoing,
the obligations in Section 5.01(a), (b) and (h) may instead be satisfied with respect to any relevant
information of the Borrower by furnishing (i) the applicable financial statements or other information required by such clauses of
Holdings (or any other Parent Company) or (ii) in the case of Sections 5.01(a) and (b), the Borrower’s or
Holdings’ (or any other Parent Company thereof), as applicable, Form 10-K or 10-Q, as applicable, filed with the SEC or any
securities exchange, in each case, within the time periods specified in such paragraphs and without any requirement to provide notice
of such filing to the Administrative Agent or any Lender; provided, that, with respect to each of clauses (i) and
(ii), (A) to the extent (x) such financial statements relate to any Parent Company and (y) either (1) such
Parent Company (or any other Parent Company that is a subsidiary of such Parent Company) has any material third party Indebtedness and/or
material operations (as determined by the Borrower in good faith and other than any operations that are attributable solely to such Parent
Company’s ownership of the Borrower and its subsidiaries) or (2) there are material differences (in the good faith determination
of the Borrower) between the financial statements of such Parent Company and its consolidated subsidiaries, on the one hand, and the Borrower
and its consolidated subsidiaries, on the other hand, such financial statements or Form 10-K or Form 10-Q, as applicable, shall
be accompanied by unaudited consolidating information that summarizes in reasonable detail the differences between the information relating
to such Parent Company and its consolidated subsidiaries, on the one hand, and the information relating to the Borrower and its consolidated
subsidiaries on a consolidated stand-alone basis, on the other hand (other than any such difference relating to shareholders’ equity),
and (B) to the extent such financial statements are in lieu of statements required to be provided under Section 5.01(b),
such statements shall be accompanied by a report and opinion with respect to the financial statements of the applicable Parent Company
of an independent registered public accounting firm of nationally recognized standing, which report and opinion shall satisfy the applicable
requirements set forth in Section 5.01(b).

 

No financial statement required
to be delivered pursuant to Section 5.01(a) or (b) shall be required to include any acquisition accounting
adjustment relating to the Transactions or any Permitted Acquisition or other Investment to the extent it is not practicable to include
any such adjustment in such financial statement.

 

Section 5.02.           Existence.
Except as otherwise permitted under Section 6.07 or Section 6.09, Holdings and the Borrower will, and the Borrower
will cause each of its Restricted Subsidiaries to, at all times preserve and keep in full force and effect its existence and all rights,
franchises, licenses and permits material to its business, except, other than with respect to the preservation of the existence of the
Borrower, to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect; provided,
that neither Holdings, the Borrower nor any of the Borrower’s Restricted Subsidiaries shall be required to preserve any such existence
(other than with respect to the preservation of existence of Holdings and the Borrower), right, franchise, license or permit if a Responsible
Officer of such Person or such Person’s board of directors (or similar governing body) determines that the preservation thereof
is no longer desirable in the conduct of the business of such Person, and that the loss thereof is not disadvantageous in any material
respect to such Person or to the Lenders (taken as a whole).

 

Section 5.03.           Payment
of Taxes. Holdings and the Borrower will, and the Borrower will cause each of its Restricted Subsidiaries to, pay all Taxes imposed
upon it or any of its properties or assets or in respect of any of its income or businesses or franchises before any penalty or fine accrues
thereon; provided, that no such Tax need be paid if (a) it is not more than 60 days overdue, (b) it is being contested
in good faith by appropriate proceedings, so long as (i) adequate reserves or other appropriate provisions, as are required in conformity
with GAAP, have been made therefor and (ii) in the case of a Tax which has resulted or may result in the creation of a Lien on any
of the Collateral, such contest proceedings conclusively operate to stay the sale of any portion of the Collateral to satisfy such Tax
and/or (c) failure to pay or discharge the same could not reasonably be expected, individually or in the aggregate, to result in
a Material Adverse Effect.

 

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Section 5.04.           Maintenance
of Properties. Holdings and the Borrower will, and will cause each of its Restricted Subsidiaries to, maintain or cause to be maintained
in good repair, working order and condition, ordinary wear and tear and casualty and condemnation excepted, all property reasonably necessary
to the normal conduct of business of the Borrower and its Restricted Subsidiaries and from time to time will make or cause to be made
all needed and appropriate repairs, renewals and replacements thereof, in each case except as expressly permitted by this Agreement or
where the failure to maintain such properties or make such repairs, renewals or replacements could not reasonably be expected to have
a Material Adverse Effect.

 

Section 5.05.           Insurance.
(a) Except where the failure to do so would not reasonably be expected to have a Material Adverse Effect, the Borrower will maintain
or cause to be maintained, with financially sound and reputable insurers, such insurance coverage with respect to liability, loss or damage
in respect of the assets, properties and businesses of the Borrower and its Restricted 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. Each such policy of insurance shall, subject to Section 5.15, (i) name the Administrative Agent on behalf of
the Secured Parties as an additional insured thereunder as its interests may appear and (ii) to the extent available from the relevant
insurance carrier, in the case of each casualty insurance policy (excluding any business interruption insurance policy), contain a lender
loss payable clause or endorsement that names the Administrative Agent, on behalf of the Secured Parties as the lender loss payee thereunder
and, to the extent available from the relevant insurance carrier after submission of a request by the applicable Loan Party to obtain
the same, provide for at least 30 days’ prior written notice to the Administrative Agent of any modification or cancellation of
such policy (or 10 days’ prior written notice in the case of the failure to pay any premium thereunder).

 

Section 5.06.           Inspections.
Holdings and the Borrower will, and the Borrower will cause each of its Restricted Subsidiaries to, permit any authorized representative
designated by the Administrative Agent to visit and inspect any of the properties of Holdings, the Borrower and any of its Restricted
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 Responsible Officers and independent public accountants (provided, that the Borrower (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 (a) only the Administrative Agent on behalf of the Lenders may exercise
the rights of the Administrative Agent and the Lenders under this Section 5.06, (b) except as expressly set forth in
clause (c) below during the continuance of an Event of Default under Section 7.01(a), (f) or
(g), the Administrative Agent shall not exercise such rights more often than one time during any calendar year, (c) when an
Event of Default under Section 7.01(a), (f) or (g) exists, the Administrative Agent (or any of its
representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business
hours and upon reasonable advance notice and (d) notwithstanding anything to the contrary herein, neither the Borrower nor any Restricted
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 (i) that constitutes non-financial trade secrets or non-financial proprietary information
of any Person, (ii) in respect of which disclosure to the Administrative Agent or any Lender (or any of their respective representatives
or contractors) is prohibited by applicable Requirements of Law, (iii) that is subject to attorney-client or similar privilege or
constitutes attorney work product or (iv) in respect of which the Borrower or any Restricted Subsidiary owes confidentiality obligations
to any third party (provided, that such confidentiality obligations were not entered into in contemplation of the requirements
of this Section 5.06).

 

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Section 5.07.           Maintenance
of Book and Records. The Borrower will, and will cause its Restricted 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 Borrower and its Restricted
Subsidiaries that are full, true and correct in all material respects and permit the preparation of consolidated financial statements
in accordance with GAAP.

 

Section 5.08.           Compliance
with Laws. Holdings and the Borrower will comply, and the Borrower will cause each of its Restricted Subsidiaries to comply, with
all applicable Requirements of Law (including applicable ERISA and all Environmental Laws, any US sanctions administered by OFAC, the
USA PATRIOT Act and the FCPA), except to the extent the failure of Holdings, the Borrower or the relevant Restricted Subsidiary to comply
could not reasonably be expected to have a Material Adverse Effect; provided, that the requirements set forth in this Section 5.08,
as they pertain to compliance by any Foreign Subsidiary with any US sanctions administered by OFAC, the USA PATRIOT ACT and the FCPA,
are subject to and limited by any Requirement of Law applicable to such Foreign Subsidiary in its relevant local jurisdiction and shall
not apply to such Foreign Subsidiary to the extent the same conflict with relevant local Requirements of Law applicable to such Foreign
Subsidiary

 

Section 5.09.           Environmental.

 

(a)            Environmental
Disclosure. The Borrower will deliver to the Administrative Agent as soon as practicable following the sending or receipt thereof
by the Borrower or any of its Restricted Subsidiaries, a copy of any and all written communications with respect to (A) any Environmental
Claim that, individually or in the aggregate, would reasonably be expected to give rise to a Material Adverse Effect, (B) any Release
required to be reported by the Borrower or any of its Restricted Subsidiaries to any federal, state or local governmental or regulatory
agency or other Governmental Authority that would reasonably be expected to have a Material Adverse Effect, (C) any request made
to the Borrower or any of its Restricted Subsidiaries for information from any governmental agency that suggests such agency is investigating
whether Holdings, the Borrower or any of its Restricted Subsidiaries may be potentially responsible for any Hazardous Materials Activity
which would reasonably be expected to have a Material Adverse Effect and (D) such other documents and information as from time to
time may be reasonably requested by the Administrative Agent in relation to any matters disclosed pursuant to this Section 5.09(a),
in each case, subject to the limitations set forth in the proviso to Section 5.01(k);

 

(b)            Hazardous
Materials Activities, Etc. The Borrower shall promptly take, and shall cause each of its Restricted Subsidiaries promptly to take,
any and all actions necessary to (i) cure any violation of applicable Environmental Laws by the Borrower or its Restricted Subsidiaries,
and address with appropriate corrective or remedial action any Release or threatened Release of Hazardous Materials at or from any Facility,
in each case, that would reasonably be expected to have a Material Adverse Effect and (ii) make an appropriate response to any Environmental
Claim against the Borrower or any of its Restricted Subsidiaries and discharge any obligations it may have to any Person thereunder, in
each case, where failure to do so would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

Section 5.10.           Designation
of Subsidiaries. The Borrower may at any time after the Closing Date designate (or redesignate) any subsidiary as an Unrestricted
Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; provided, that (a) immediately after giving effect to such
designation, no Event of Default exists (including after giving effect to the reclassification of any Investment in, Indebtedness
of and/or Lien on the assets of, the applicable Restricted Subsidiary or Unrestricted Subsidiary), (b) as of the date of the designation
thereof, no Unrestricted Subsidiary shall own any Capital Stock in any Restricted Subsidiary of the Borrower (unless such Restricted Subsidiary
is also designated as an Unrestricted Subsidiary), (c) no subsidiary may be designated an Unrestricted Subsidiary if it is a “Restricted
Subsidiary” for purposes of the First Lien Credit Agreement and (d) in no event shall any Rao’s Entity, MichaelAngleo
Entity or Noosa Entity be designated as an Unrestricted Subsidiary without the prior written consent of the Required Lenders. The designation
of any subsidiary as an Unrestricted Subsidiary shall constitute an Investment by the Borrower (or its applicable Restricted 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 Borrower’s (or its applicable Restricted Subsidiary’s) equity interest therein as estimated by the Borrower in good
faith (and such designation shall only be permitted to the extent such Investment is permitted under Section 6.06). The designation
of any Unrestricted Subsidiary as a Restricted Subsidiary 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 re-designation
of any Unrestricted Subsidiary as a Restricted Subsidiary, the Borrower (or its applicable Restricted Subsidiary) shall be deemed to continue
to have an Investment in the resulting Restricted Subsidiary in an amount (if positive) equal to (a) the Borrower’s (or its
applicable Restricted Subsidiary’s) “Investment” in such Restricted Subsidiary at the time of such re-designation, less
(b) the portion of the fair market value of the net assets of such Restricted Subsidiary attributable to the Borrower’s (or
its applicable Restricted Subsidiary’s) equity therein at the time of such re-designation as estimated by the Borrower in good faith.

 

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Section 5.11.           Use
of Proceeds. The Borrower shall use the proceeds of the Initial Loans made on the Closing Date solely to (i) finance all or a
portion of the Transactions (and the payment of Transaction Costs) and (ii) to the extent of any remaining proceeds, for general
corporate purposes of the Borrower and its subsidiaries.

 

Section 5.12.          Covenant
to Guarantee Obligations and Provide Security.

 

(a)            Upon
(i) the formation or acquisition after the Closing Date of any Restricted Subsidiary, (ii) the designation of any Unrestricted
Subsidiary as a Restricted Subsidiary or (iii) any Restricted Subsidiary that was an Excluded Subsidiary ceasing to be an Excluded
Subsidiary, on or before the date on which a Compliance Certificate is required to be delivered pursuant to Section 5.01(c),
for the Fiscal Quarter in which the relevant formation, acquisition, designation or cessation occurred (or such longer period as the Administrative
Agent may reasonably agree), the Borrower shall (A) cause such Restricted Subsidiary (other than any Excluded Subsidiary) to comply
with the requirements set forth in clause (b) of the definition of “Collateral and Guarantee Requirement” and
(B) upon the reasonable request of the Administrative Agent (which request may not be made unless the Consolidated Total Assets of
the relevant Restricted Subsidiary constitutes more than 10% of the Consolidated Total Assets of the Borrower and its Restricted Subsidiaries,
taken as a whole, cause the relevant Restricted Subsidiary (other than any Excluded Subsidiary) to deliver to the Administrative Agent
a signed copy of a customary opinion of counsel for such Restricted Subsidiary, addressed to the Administrative Agent and the Lenders.

 

(b)            Within
90 days (or such longer period as the Administrative Agent may reasonably agree) after the acquisition of any Material Real Estate Asset
other than any Excluded Asset by the Borrower or any Loan Party that is a Domestic Subsidiary of the Borrower, the Borrower will give
the Administrative Agent written notice of the acquisition of such Material Real Estate Asset and, if requested by the Administrative
Agent, the Borrower shall, or shall cause such Loan Party, to comply with the requirements set forth in clause (c) of the
definition of “Collateral and Guarantee Requirement” within 90 days of the receipt of such request (or such longer period
as the Administrative Agent may reasonably agree). For purposes of this clause (b), any Material Real Estate Asset owned by any
Restricted Subsidiary at the time such Restricted Subsidiary is required to become a Loan Party under Section 5.12(a) above
shall be deemed to have been acquired by such Restricted Subsidiary on the first day of the time period within which such Restricted Subsidiary
is required to become a Loan Party under Section 5.12(a).

 

(c)            Notwithstanding
anything to the contrary herein or in any other Loan Document, the Borrower may, in its sole discretion, elect to cause any Restricted
Subsidiary and/or Parent Company (any such Person, a “Discretionary Guarantor”) that is not otherwise required to be
a Subsidiary Guarantor to provide a Loan Guaranty by causing such Person to execute a Joinder Agreement, and any such Person shall constitute
a Loan Party and a Guarantor for all purposes hereunder; it being understood and agreed that such Person shall grant a security interest
in such categories of assets pursuant to such documentation as the Borrower and the Administrative Agent may reasonably agree; provided
that (i) in the case of any Discretionary Guarantor that is a Foreign Subsidiary, the jurisdiction of such person is reasonably satisfactory
to the Administrative Agent and (ii) the Administrative Agent shall have received at least two Business Days prior to such person
becoming a Guarantor, all documentation and other information in respect of such person required under applicable “know your customer”
and anti-money laundering rules and regulations (including the USA Patriot Act).

 

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(d)            Notwithstanding
anything to the contrary herein or in any other Loan Document, it is understood and agreed that:

 

(i)            the
Administrative Agent may grant extensions of time (including after the expiration of any relevant period, which may apply retroactively)
for the creation and perfection of security interests in, or obtaining of legal opinions or other deliverables with respect to, particular
assets or the provision of any Loan Guaranty by any Restricted Subsidiary, and each Lender hereby consents to any such extension of time;

 

(ii)            any
Lien required to be granted from time to time pursuant to the definition of “Collateral and Guarantee Requirement” and/or
any action requested in connection therewith shall be subject to the exceptions and limitations set forth in this Agreement and the Collateral
Documents;

 

(iii)            perfection
by control shall not be required with respect to assets requiring perfection through control agreements or other control arrangements,
including deposit accounts, securities accounts and commodities accounts (other than control of (A) pledged Capital Stock of the
Borrower or any material first tier Restricted Subsidiary that is a Wholly-Owned Subsidiary and/or (B) any Material Debt Instrument
owing from any Person that is not a Loan Party, in each case, to the extent the same otherwise constitute Collateral);

 

(iv)           no
Loan Party shall be required to seek any landlord lien waiver, bailee letter, estoppel, warehouseman waiver or other collateral access
or similar letter or agreement;

 

(v)            no
Loan Party (other than any Discretionary Guarantor that is organized under the laws of a jurisdiction outside of the US) will be required
to (A) take any action to grant or perfect a security interest in any asset located outside of the US or (B) execute any security
agreement, pledge agreement, mortgage, deed, charge or other collateral document governed by the laws of any jurisdiction other than the
US, any state thereof or the District of Columbia; it being understood and agreed that no Loan Party (including any Discretionary Guarantor)
will be required to take any action to perfect a security interest in the Collateral in any jurisdiction other than the jurisdiction in
which such Loan Party is organized (other than (1) in the case of Mortgaged Property located in the US that is owned by any Loan
Party that is a Domestic Subsidiary, the jurisdiction where such property is located and (2) with respect to the required pledge
of the Capital Stock of any Discretionary Guarantor that is not organized under the laws of the United States or any state thereof, the
jurisdiction of organization of such Discretionary Guarantor);

 

(vi)           in
no event will (A) the Collateral include any Excluded Asset or (B) any Excluded Subsidiary be required to become a Subsidiary
Guarantor;

 

(vii)          without
limiting clause (xiv) below, no action shall be required to perfect any Lien with respect to (A) any vehicle or
other asset subject to a certificate of title, (B) any Letter-of-Credit Right, (C) the Capital Stock of any Immaterial Subsidiary
(other than any Immaterial Subsidiary that is a Loan Party) and/or (D) the Capital Stock of any Person that is not a subsidiary,
which Person, if a subsidiary, would constitute an Immaterial Subsidiary and/or (E) any aircraft, in each case, except to the extent
that a security interest therein can be perfected by filing a Form UCC-1 (or similar) financing statement under the UCC (without
the requirement to list an “VIN” or similar number);

 

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(viii)         no
action shall be required to perfect a Lien in any asset in respect of which the perfection of a security interest therein would (A) be
prohibited by enforceable anti-assignment provisions set forth in any contract that is permitted or otherwise not prohibited by the terms
of this Agreement and is binding on such asset at the time of its acquisition and not incurred in contemplation thereof (other than in
the case of capital leases, purchase money and similar financings), (B) violate the terms of any contract relating to such asset
that is permitted or otherwise not prohibited by the terms of this Agreement and is binding on such asset at the time of its acquisition
and not incurred in contemplation thereof (other than in the case of capital leases, purchase money and similar financings), in each case,
after giving effect to the applicable anti-assignment provisions of the UCC or other applicable Requirement of Law or (C) trigger
termination of any contract relating to such asset that is permitted or otherwise not prohibited by the terms of this Agreement and is
binding on such asset at the time of its acquisition and not incurred in contemplation thereof (other than in the case of capital leases,
purchase money and similar financings) pursuant to any “change of control” or similar provision; it being understood that
the Collateral shall include any proceeds and/or receivables arising out of any contract described in this clause to the extent the assignment
of such proceeds or receivables is expressly deemed effective under the UCC or other applicable Requirement of Law notwithstanding the
relevant prohibition, violation or termination right;

 

(ix)            (A) no
Loan Party shall be required to perfect a Lien in any asset to the extent the perfection of a security interest in such asset would be
prohibited under any applicable Requirement of Law and (B) it is understood and agreed, for the avoidance of doubt, that no Loan
Party shall be required to comply with the Federal Assignment of Claims Act or any similar statute;

 

(x)            any
Joinder Agreement, any Collateral Document and/or any other Loan Document executed by any Restricted Subsidiary that is required to become
(or otherwise becomes) a Loan Party pursuant to Section 5.12(a) above (including any Joinder Agreement) may, with the
consent of the Administrative Agent (not to be unreasonably withheld or delayed), include such schedules (or updates to schedules) as
may be necessary to qualify any representation or warranty set forth in any Loan Document to the extent necessary to ensure that such
representation or warranty is true and correct to the extent required thereby or by the terms of any other Loan Document;

 

(xi)            the
Lenders and the Administrative Agent acknowledge and agree that the Collateral that may be provided by any Loan Party may be limited to
minimize stamp duty, notarization, registration or other applicable fees, taxes and duties where the benefit to the Secured Parties of
increasing the secured amount is disproportionate to the cost of such fees, taxes and duties;

 

(xii)           (A) any
required Mortgage will be permitted to be delivered after the Closing Date and (B) it is understood that no Loan Party will be required
to procure title insurance or a survey with respect to any Material Real Estate Asset;

 

(xiii)          the
Administrative Agent shall not require the taking of a Lien on, or require the perfection of any Lien granted in, any asset as to which
the cost of obtaining or perfecting such Lien (including any mortgage, stamp, intangibles or other tax or expenses relating to such Lien)
is excessive in relation to the benefit to the Lenders of the security afforded thereby as reasonably determined in writing by the Borrower
and the Administrative Agent;

 

(xiv)          except
with respect to any Discretionary Guarantor that is organized under the laws of a jurisdiction outside the US, no Loan Party shall be
required, and the Administrative Agent shall not be authorized, to perfect any security interest or Mortgage by means other than (A) filings
pursuant to the Uniform Commercial Code in the office of the secretary of state (or similar central filing office) of any Loan Party’s
jurisdiction of organization, (B) filings with the US federal government offices with respect to IP Rights as expressly required
by the Security Agreement, (C) delivery to the Administrative Agent, for its possession (subject to the terms of any applicable Intercreditor
Agreement), of any Collateral consisting of pledged Capital Stock held by any Loan Party in the Borrower or any Restricted Subsidiary
that is a Wholly-Owned Subsidiary and/or any Material Debt Instrument issued to the Borrower or another Loan Party, in each case, to the
extent required by the Security Agreement or (D) mortgages in respect of Material Real Estate Assets; and

 

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(xv)          (A) no
Collateral Document executed and delivered after the Closing Date, including any Mortgage, will impose any commercial obligation on any
Loan Party or contain any representation, warranty or undertaking that is not required for the creation and/or perfection of a security
interest in the relevant asset and (B) to the extent the subject matter of any representation, warranty or undertaking in any Collateral
Document executed and delivered after the Closing Date is the same as any representation, warranty or covenant in the Credit Agreement,
such representation, warranty or covenant shall be no more burdensome to the applicable Loan Party than the corresponding provision of
this Agreement unless the relevant additional requirement is necessary for the creation and/or perfection of a security interest in the
relevant asset.

 

(e)            It
is understood and agreed for the avoidance of doubt that the Borrower may elect to join any Domestic Subsidiary that is not required to
be or become a Subsidiary Guarantor solely because such Restricted Subsidiary is an Immaterial Subsidiary without (i) the consent
of the Administrative Agent or (ii) delivery of an opinion of counsel.

 

Section 5.13.           [Reserved].

 

Section 5.14.           Further
Assurances. Promptly upon request of the Administrative Agent and subject to the limitations described in Section 5.12:

 

(a)            the
Borrower will, and will cause each other Loan Party to, execute any and all further documents, financing statements, agreements, instruments,
notices and acknowledgments and take all such further actions (including the filing and recordation of financing statements, fixture filings,
Mortgages and/or amendments thereto and other documents), that may be required under any applicable Requirement of 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
Collateral Documents, all at the expense of the relevant Loan Parties; and

 

(b)            the
Borrower will, and will cause each other applicable Loan Party to, (i) correct any material defect or error that may be discovered
in the execution, acknowledgment, filing or recordation of any Collateral Document or other document or instrument relating to any Collateral
and (ii) 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, 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 or intended to be created under the Collateral
Documents.

 

Section 5.15.           Post-Closing
Covenant. Take the actions required by Schedule 5.15 in each case within the time periods specified therein (or, in each case,
such longer period to which the Administrative Agent may reasonably agree).

 

Section 5.16.           Transactions
with Affiliates. The Borrower shall, and shall cause its Restricted Subsidiaries to, consummate any transaction with any Affiliate
thereof that involves payment in excess of the greater of $36,000,000 and 24% of Consolidated Adjusted EBITDA as of the last day of the
most recently ended Test Period, on terms that are at least as favorable (as determined by the Borrower in good faith at the time of the
execution of the definitive agreement relating thereto) to the Borrower or such Restricted Subsidiary, as the case may be, as those that
might be obtained at the time in a comparable arm’s-length transaction from a Person who is not an Affiliate (or, if in the good
faith judgment of Borrower, there is no comparable transaction on the basis of which to make the comparison described above, such transaction
is fair to the Borrower or its applicable Restricted Subsidiary from a financial point of view); provided, that the foregoing requirement
shall not apply to:

 

(a)            any
transaction between or among Holdings, the Borrower and/or one or more Restricted Subsidiaries (or any entity that becomes a Restricted
Subsidiary as a result of such transaction) to the extent permitted or not restricted by this Agreement; 

 

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(b)            any
issuance, sale or grant of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding
of employment arrangements, stock options and stock ownership plans approved by the board of directors (or equivalent governing body)
of any Parent Company or of the Borrower or any Restricted Subsidiary;

 

(c)            (i) any
collective bargaining, employment or severance agreement or compensatory (including profit sharing) arrangement (including salary or guaranteed
payment and bonuses) entered into by the Borrower or any of its Restricted Subsidiaries with their respective current or former officers,
directors, members of management, managers, employees, consultants or independent contractors or those of any Parent Company, (ii) any
subscription agreement or similar agreement pertaining to the repurchase of Capital Stock pursuant to put/call rights or similar rights
with current or former officers, directors, members of management, managers, employees, consultants or independent contractors and (iii) any
transaction pursuant to any employee compensation, benefit plan, stock option plan or arrangement, any health, disability or similar insurance
plan which covers current or former officers, directors, members of management, managers, employees, consultants or independent contractors
or any employment contract or arrangement;

 

(d)            (i) transactions
permitted by Sections 6.04 and 6.06 and (ii) issuances of Capital Stock, equity contributions and issuances and
incurrences of Indebtedness not otherwise restricted by this Agreement;

 

(e)            transactions
in existence on the Closing Date and any amendment, modification or extension thereof to the extent such amendment, modification or extension,
taken as a whole, is not (i) materially adverse to the Lenders or (ii) more disadvantageous in any material respect to the Lenders
than the relevant transaction in existence on the Closing Date;

 

(f)            (i) so
long as no Event of Default under Section 7.01(a), (f) or (g) then exists or would result therefrom,
the payment of management, monitoring, consulting, transaction, oversight, advisory and similar fees to any Investor in an amount not
to exceed the greater of $6,000,000 and 2.4% of Consolidated Adjusted EBITDA per Fiscal Year; provided, that such fees may continue
to accrue during the pendency of any such Event of Default and shall become payable upon the waiver, termination or cure of the relevant
Event of Default and (ii) the payment or reimbursement of all indemnification obligations and expenses owed to any Investor and any
of their respective directors, officers, members of management, managers, employees and consultants, in each case of clauses (i) and
(ii) whether currently due or paid in respect of accruals from prior periods;

 

(g)            the
Transactions and the payment of Transaction Costs;

 

(h)            customary
compensation to, and reimbursement of expenses of, Affiliates in connection with financial advisory, financing, underwriting or placement
services or in respect of other investment banking activities and other transaction fees, which payments are approved by the majority
of the members of the board of directors (or similar governing body) or a majority of the disinterested members of the board of directors
(or similar governing body) of the Borrower in good faith;

 

(i)             Guarantees
permitted by Section 6.01 or Section 6.06;

 

(j)             transactions
that are otherwise permitted (or not restricted) under Article 6;

 

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(k)            the
payment of customary fees and reasonable out-of-pocket costs to, and indemnities provided on behalf of, members of the board of directors
(or similar governing body), officers, employees, members of management, managers, consultants and independent contractors of the Borrower
and/or any of its Restricted Subsidiaries in the ordinary course of business and, in the case of payments to such Person in such capacity
on behalf of any Parent Company, to the extent attributable to the operations of the Borrower or its subsidiaries;

 

(l)             transactions
with customers, clients, suppliers, joint ventures, purchasers or sellers of goods or services or providers of employees or other labor
entered into in the ordinary course of business, which are (i) fair to the Borrower and/or its applicable Restricted Subsidiary in
the good faith determination of the Borrower (or its board of directors (or similar governing body) or senior management) or (ii) on
terms at least as favorable as might reasonably be obtained from a Person other than an Affiliate;

 

(m)            the
payment of reasonable out-of-pocket costs and expenses related to registration rights and customary indemnities provided to shareholders
under any shareholder agreement;

 

(n)            (i) any
purchase by Holdings of the Capital Stock of (or contribution to the equity capital of) the Borrower and (ii) any intercompany loan
made by the Borrower to Holdings or any Restricted Subsidiary;

 

(o)            any
transaction (or series of related transactions) in respect of which the Borrower delivers to the Administrative Agent a letter addressed
to the board of directors (or equivalent governing body) of the Borrower from an accounting, appraisal or investment banking firm of nationally
recognized standing stating that such transaction or transactions, as applicable, is or are on terms that either (i) are no less
favorable to the Borrower or the applicable Restricted Subsidiary than might be obtained at the time in a comparable arm’s length
transaction from a Person who is not an Affiliate or (ii) fair to the Borrower or the relevant Restricted Subsidiary from a financial
point of view;

 

(p)            any
issuance, sale or grant of securities or other payments, awards or grants in Cash, securities or otherwise pursuant to, or the funding
of employment arrangements, stock options and stock ownership or incentive plans approved by a majority of the members of the board of
directors (or similar governing body) or a majority of the disinterested members of the board of directors (or similar governing body)
of the Borrower in good faith;

 

(q)            any
transaction in connection with any Receivables Facility;

 

(r)             any
payment pursuant to any tax sharing agreement or arrangement (whether written or as a matter of practice), that would otherwise be permitted
as a distribution pursuant to Section 6.04(a);

 

(s)            the
licensing of any intellectual property right in the ordinary course of business to permit the commercial use of intellectual property
between or among the Borrower and/or any subsidiary and/or Affiliate thereof;

 

(t)             any
transaction (or series of related transactions) approved by a majority of the disinterested directors (or members of any similar governing
body) of the Borrower or an applicable Parent Company;

 

(u)            any
investment by any Investor or Parent Company in securities or Indebtedness of the Borrower and/or any Guarantor;

 

(v)            transactions
not otherwise prohibited by this Agreement for the purpose of (i) reorganizing to facilitate any Public Company Transaction of any
Parent Company, including any PCT Reorganization Transaction, (ii) forming a holding company and/or (iii) reincorporating the
Borrower in a new jurisdiction;

 

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(w)            any
payment to or from, and/or any transaction with, any joint venture or Unrestricted Subsidiary in the ordinary course of business or consistent
with past practice, industry practice or industry norms (including, any cash management activity related thereto);

 

(x)            (i) the
existence and performance of any agreement and/or transaction with any Unrestricted Subsidiary that was entered into prior to the designation
of such subsidiary as an Unrestricted Subsidiary to the extent that the transaction was permitted at the time that it was entered into
with such Restricted Subsidiary and/or (ii) any transaction entered into by any Unrestricted Subsidiary with any Affiliate prior
to the re-designation of such Unrestricted Subsidiary as a Restricted Subsidiary; provided that such transaction was not entered
into in contemplation of such designation or re-designation, as applicable;

 

(y)            any
capital contribution (whether or not in exchange for the issuance of additional Capital Stock) or loan to any Unrestricted Subsidiary
that is not otherwise prohibited by this Agreement;

 

(z)            transactions
permitted pursuant to Section 9.05(g);

 

(aa)          (i) any
investment by any Affiliate in securities or other Indebtedness of the Borrower and/or any Restricted Subsidiary (and payment of reasonable
out-of-pocket expenses incurred by such Affiliates in connection therewith) so long as the investment is being offered by the Borrower
or such Restricted Subsidiary generally to other investors on the same or more favorable terms and (ii) payments and/or distributions
to Affiliates in respect of securities or Indebtedness of the Borrower or any Restricted Subsidiary in connection with the securities
and other Indebtedness contemplated in the foregoing subclause (i) or that were acquired from Persons other than the
Borrower and the Restricted Subsidiaries, in each case, in accordance with the terms of such securities or Indebtedness; and/or

 

(bb)          any
transaction with any portfolio company of any Investor in the ordinary course of business.

 

Section 5.17.           Fiscal
Year. In the event that the Borrower elects to change the end date of its Fiscal Year to a date other than as described in the definition
of “Fiscal Year”, the Borrower shall notify the Administrative Agent in writing, in which case the Borrower and the Administrative
Agent will, and are hereby authorized to, make any adjustment to this Agreement that is necessary to reflect such change in Fiscal Year.

 

Section 5.18.           Nature
of Business. From and after the Closing Date, the Borrower shall, and shall cause its Restricted Subsidiaries to, ensure that any
material line of business in which it engages is either (a) a business engaged in by the Borrower and/or any Restricted Subsidiary
on the Closing Date or a similar, incidental, complementary, ancillary or related business or (b) another line of business to which,
in the case of this clause (b), the Administrative Agent provides its consent.

 

ARTICLE 6

 

NEGATIVE COVENANTS

 

From the Closing Date until
the Termination Date, the Borrower (and, solely in the case of Section 6.09, Holdings) covenants and agrees with the Lenders
and the Administrative Agent that:

 

Section 6.01.           Indebtedness.
The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to create, incur, assume or otherwise become or remain
liable with respect to any Indebtedness, except:

 

(a)            the
Secured Obligations;

 

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(b)            Indebtedness
of (i) the Borrower to Holdings and/or any Restricted Subsidiary and/or (ii) any Restricted Subsidiary to Holdings, the Borrower
and/or any other Restricted Subsidiary; provided, that (A) in the case of any Indebtedness of any Restricted Subsidiary that
is not a Loan Party owing to the Borrower or any Restricted Subsidiary that is a Loan Party, the related Investment is permitted under
Section 6.06, and (B) any Indebtedness of any Loan Party owing to any Restricted Subsidiary that is not a Loan Party
incurred in reliance on this clause (b) must be unsecured and expressly subordinated to the Obligations of such Loan Party on terms
that are reasonably acceptable to the Administrative Agent (it being understood that the subordination terms set forth in the Intercompany
Note are acceptable to the Administrative Agent);

 

(c)            [reserved];

 

(d)            (i) Indebtedness
arising from any agreement providing for indemnification, adjustment of purchase price or similar obligations (including contingent earn-out
obligations) incurred in connection with the Transactions, any Disposition permitted hereunder, any acquisition or other Investment permitted
hereunder or consummated prior to the Closing Date or any other purchase of assets or Capital Stock or any other Investment, and (ii) Indebtedness
arising from guaranties, letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments securing the performance
of the Borrower or any such Restricted Subsidiary pursuant to any such agreement;

 

(e)            Indebtedness
of the Borrower and/or any Restricted Subsidiary (i) as a result of or pursuant to tenders, statutory obligations, bids, leases,
governmental contracts, trade contracts, surety, stay, customs, appeal, performance and/or return of money bonds or other similar obligations
incurred in the ordinary course of business or pursuant to self-insurance obligations and not in connection with debt for borrowed money
and (ii) in respect of letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments to support any
of the foregoing items;

 

(f)             Indebtedness
of the Borrower and/or any Restricted Subsidiary in respect of Banking Services and/or otherwise in connection with Cash management and
Deposit Accounts;

 

(g)            (i) guaranties
by the Borrower and/or any Restricted Subsidiary of the obligations of suppliers, customers and licensees in the ordinary course of business,
(ii) Indebtedness incurred in the ordinary course of business in respect of obligations of the Borrower and/or any Restricted Subsidiary
to pay the deferred purchase price of goods or services or progress payments in connection with such goods and services and (iii) Indebtedness
in respect of letters of credit, bankers’ acceptances, bank guaranties or similar instruments supporting trade payables, warehouse
receipts or similar facilities entered into in the ordinary course of business;

 

(h)            Guarantees
by the Borrower and/or any Restricted Subsidiary of Indebtedness or other obligations of the Borrower, any Restricted Subsidiary and/or
any joint venture with respect to Indebtedness otherwise permitted to be incurred pursuant to this Section 6.01 or other obligations
not prohibited by this Agreement; provided that in the case of any Guarantee by any Loan Party of the obligations of any non-Loan
Party, the related Investment is permitted under Section 6.06;

 

(i)             (A) Indebtedness
of the Borrower and/or any Restricted Subsidiary existing, or pursuant to commitments existing, on the Closing Date; provided,
that any such Indebtedness or commitment having an outstanding principal amount in excess of $10,000,000 shall be described on Schedule
6.01 and (B) intercompany Indebtedness outstanding on the Closing Date;

 

(j)             Indebtedness
of Restricted Subsidiaries that are not Loan Parties; provided, that the aggregate outstanding principal amount of such Indebtedness
shall not exceed the greater of $78,000,000 and 60% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test
Period;

 

(k)            Indebtedness
of the Borrower and/or any Restricted Subsidiary consisting of obligations owing under incentive, supply, license or similar agreements
entered into in the ordinary course of business;

 

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(l)            Indebtedness
of the Borrower and/or any Restricted Subsidiary consisting of (i) the financing of insurance premiums, (ii) take-or-pay obligations
contained in supply arrangements, in each case, in the ordinary course of business and/or (iii) obligations to reacquire assets or
inventory in connection with customer financing arrangements in the ordinary course of business;

 

(m)          Indebtedness
of the Borrower and/or any Restricted Subsidiary with respect to Capital Leases and purchase money Indebtedness in an aggregate outstanding
principal amount not to exceed the greater of $78,000,000 and 60% of Consolidated Adjusted EBITDA as of the last day of the most recently
ended Test Period; provided, that any Capital Lease entered into and/or purchase money Indebtedness incurred in the ordinary course
of business shall not reduce the amount available under this clause (m);

 

(n)           Indebtedness
of any Person that becomes a Restricted Subsidiary and/or Indebtedness assumed in connection with any acquisition or similar Investment;
provided, that:

 

(i)             such
Indebtedness (A) existed at the time such Person became a Restricted Subsidiary or the assets subject to such Indebtedness were acquired
and (B) was not created or incurred in contemplation of the applicable acquisition or similar Investment, and

 

(ii)            after
giving effect to such Indebtedness on a Pro Forma Basis, either:

 

(A)            (1) if
such Indebtedness is First Lien Debt, the First Lien Net Leverage Ratio does not exceed the First Lien Net Leverage Ratio as of the last
day of the most recently ended Test Period (2) if such Indebtedness is Second Lien Debt or Junior Lien Debt, the Secured Net Leverage
Ratio does not exceed the Secured Net Leverage Ratio as of the last day of the most recently ended Test Period or (3) if such Indebtedness
is secured by a Lien on any asset that does not constitute Collateral or is unsecured, the Total Net Leverage Ratio does not exceed the
Total Net Leverage Ratio as of the last day of the most recently ended Test Period;

 

(B)            the
First Lien Leverage Ratio does not exceed 7.20:1.00 as of the last day of the most recently ended Test Period; or

 

(C)            such
Indebtedness is in an aggregate principal amount outstanding not to exceed the greater of $36,000,000 and 24% of Consolidated Adjusted
EBITDA as of the last day of the most recently ended Test Period;

 

(o)           Indebtedness
issued by the Borrower or any Restricted Subsidiary to any stockholder of any Parent Company or any current or former director, officer,
employee, member of management, manager or consultant of any Parent Company, the Borrower or any subsidiary (or their respective Immediate
Family Members) to finance the purchase or redemption of Capital Stock of any Parent Company permitted by Section 6.04(a);

 

(p)           Indebtedness
refinancing, refunding or replacing any Indebtedness permitted under clauses (a), (i), (j), (m), (n),
(r), (u), (w), (y), (z), (ii) and/or (jj) of this Section 6.01 (in any
case, including any refinancing Indebtedness incurred in respect thereof, “Refinancing Indebtedness”) and any subsequent
Refinancing Indebtedness in respect thereof; provided that:

 

(i)             the
principal amount of such Indebtedness does not exceed the principal amount of, and commitments in respect of, the Indebtedness being refinanced,
refunded or replaced, except by (A) an amount equal to unpaid accrued interest, penalties and premiums (including tender premiums)
thereon plus underwriting discounts, other reasonable and customary fees, commissions and expenses (including upfront fees, original issue
discount or initial yield payments) incurred in connection with the relevant refinancing, refunding or replacement and the related refinancing
transaction, (B) an amount equal to any existing commitments unutilized thereunder and (C) additional amounts permitted to be
incurred pursuant to this Section 6.01 (provided, that (1) any additional Indebtedness referenced in this clause
(C) satisfies the other applicable requirements of this definition (with additional amounts incurred in reliance on this clause
(C) constituting a utilization of the relevant basket or exception pursuant to which such additional amount is permitted) and
(2) if such additional Indebtedness is secured, the Lien securing such Indebtedness satisfies the applicable requirements of Section 6.02);

 

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(ii)            in
the case of Refinancing Indebtedness with respect to clauses (a), (w) and/or (z) (other than (I) Customary
Bridge Loans and (II) Customary Term A Loans), such Indebtedness (other than revolving indebtedness) has (A) a final maturity
equal to or later than (and, in the case of revolving Indebtedness, does not require mandatory commitment reductions, if any, prior to)
the Latest Maturity Date and (B)  a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity
of the outstanding Loans at such time;

 

(iii)           the
terms of any Replacement Debt with an original principal amount in excess of the Threshold Amount (excluding, to the extent applicable,
pricing (including any “MFN” provision), fees, premiums, rate floors, optional prepayment, funding discounts, maturity, amortization
schedule, redemption terms or subordination terms and security), are not, taken as a whole (as determined by the Borrower in good faith),
more favorable to the lenders providing such Indebtedness than those applicable to the Indebtedness being refinanced, refunded or replaced
(other than (A) any covenant or any other provision applicable only to periods after the applicable maturity date of the debt then
being refinanced as of such date, (B) any covenant or provision which constitutes a then-current market term for the applicable type
of Indebtedness (as determined by the Borrower in good faith), or (C) any covenant or other provision which is conformed (or added)
to the Loan Documents for the benefit of the Lenders or, as applicable, the Administrative Agent, pursuant to an amendment to this Agreement
effectuated in reliance on Section 9.02(d)(ii));

 

(iv)           in
the case of Refinancing Indebtedness with respect to Indebtedness permitted under clauses (j), (m), (n)(ii)(C),
(r), (u), (w) (solely as it relates to the Shared Incremental Amount), (y), (z) (solely as
it relates to the Shared Incremental Amount), (ii) and/or (jj) of this Section 6.01, the incurrence thereof
shall be without duplication of any amount outstanding in reliance on the relevant clause such that the amount available under the relevant
clause shall be reduced by the amount of the applicable Refinancing Indebtedness;

 

(v)            except
in the case of Refinancing Indebtedness constituting Replacement Debt, (A) (1) such Indebtedness, if secured, is secured only
by Permitted Liens at the time of such refinancing, refunding or replacement (it being understood that secured Indebtedness may be refinanced
with unsecured Indebtedness), and (2) either (x) if the Liens securing such Indebtedness were originally contractually subordinated
to the Liens on the Collateral securing the Initial Loans, the Liens securing such Indebtedness are subordinated to the Liens on the Collateral
securing the Initial Loans on terms not materially less favorable (as determined by the Borrower in good faith), taken as a whole, to
the Lenders than those (I) applicable to the Liens securing the Indebtedness being refinanced, refunded or replaced, taken as a whole,
or (II) set forth in any relevant Intercreditor Agreement or (y) the purchase, defeasance, redemption, repurchase, repayment,
refinancing or other acquisition or retirement of such Indebtedness is permitted under Section 6.04(b) (other than Section 6.04(b)(i));
it being understood that the proceeds of any such Refinancing Indebtedness may be funded into Escrow pursuant to customary (in the good
faith determination of the Borrower) escrow arrangements, (B) such Indebtedness is incurred by the obligor or obligors in respect
of the Indebtedness being refinanced, refunded or replaced, except to the extent otherwise permitted pursuant to Section 6.01
(it being understood that (1) any entity that was a guarantor in respect of the relevant refinanced Indebtedness may be the primary
obligor in respect of the refinancing Indebtedness, and any entity that was the primary obligor in respect of the relevant refinanced
Indebtedness may be a guarantor in respect of the refinancing Indebtedness and (2) the obligation of any Person with respect to any
Escrow arrangement into which the proceeds of such Refinancing Indebtedness are deposited shall not constitute a Guarantee) and (C) if
the Indebtedness being refinanced, refunded or replaced was expressly contractually subordinated to the Obligations in right of payment,
(x) such Indebtedness is contractually subordinated to the Obligations in right of payment, or (y) if not contractually subordinated
to the Obligations in right of payment, the purchase, defeasance, redemption, repurchase, repayment, refinancing or other acquisition
or retirement of such Indebtedness is permitted under Section 6.04(b) (other than Section 6.04(b)(i)); and

 

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(vi)           in
the case of Refinancing Indebtedness constituting Replacement Debt, (A) such Indebtedness is pari passu or junior in right
of payment and secured by the Collateral on a pari passu or junior basis with respect to the remaining Obligations hereunder, or
is unsecured; provided that any such Refinancing Indebtedness that is pari passu or junior with respect to the Collateral
shall be subject to an Intercreditor Agreement, (B) if the Indebtedness being refinanced, refunded or replaced is secured, it is
not secured by any asset that does not constitute Collateral; it being understood that the proceeds of any such Refinancing Indebtedness
may be funded into Escrow pursuant to customary (in the good faith determination of the Borrower) escrow arrangements, (C) if the
Indebtedness being refinanced, refunded or replaced is Guaranteed, it shall not be Guaranteed by any Restricted Subsidiary of the Borrower
other than one or more Loan Parties (it being understood that the obligation of any Person with respect to any Escrow arrangement into
which the proceeds of such Refinancing Indebtedness are deposited shall not constitute a Guarantee) and (D) such Refinancing Indebtedness
is incurred under (and pursuant to) documentation other than this Agreement;

 

(q)           [Reserved];

 

(r)            Indebtedness
of the Borrower and/or any Restricted Subsidiary in an aggregate outstanding principal amount not to exceed 100% of the amount of Net
Proceeds received by the Borrower from (i) the issuance or sale of Qualified Capital Stock or (ii) any Cash contribution in
respect of its Qualified Capital Stock with the Net Proceeds from the issuance and sale by any Parent Company of Capital Stock or a contribution
to the Capital Stock of any Parent Company, in each case, (A) other than any Net Proceeds received from the sale of Capital Stock
to, or contributions from, the Borrower or any of its Restricted Subsidiaries, (B) to the extent the relevant Net Proceeds have not
otherwise been applied to make Investments, Restricted Payments or Restricted Debt Payments hereunder in reliance on a provision of Section 6.06
or Section 6.04, as applicable, with respect to which such Net Proceeds were required to permit the relevant transaction and
(C) other than any Cure Amount and/or any Available Excluded Contribution Amount (the amount of any Net Proceeds or contribution
utilized to incur Indebtedness in reliance on this clause (r), a “Contribution Indebtedness Amount”);

 

(s)           Indebtedness
of the Borrower and/or any Restricted Subsidiary under any Derivative Transaction not entered into for speculative purposes;

 

(t)            Indebtedness
of the Borrower and/or any Restricted Subsidiary representing (i) deferred compensation to current or former directors, officers,
employees, members of management, managers, and consultants of any Parent Company, the Borrower and/or any Restricted Subsidiary in the
ordinary course of business and (ii) deferred compensation or other similar arrangements in connection with the Transactions, any
Permitted Acquisition or any other Investment permitted hereby;

 

(u)           Indebtedness
of the Borrower and/or any Restricted Subsidiary in an aggregate outstanding principal amount not to exceed the greater of $120,000,000
and 90% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period;

 

(v)           [reserved];

 

(w)          Indebtedness
of the Borrower and/or any Restricted Subsidiary (any Indebtedness incurred pursuant to this Section 6.01(w), the “Ratio
Debt”) so long as, after giving effect thereto, including the application of the proceeds thereof (in each case, without “netting”
the cash proceeds of the applicable Indebtedness being incurred), the outstanding principal thereof does not exceed an amount equal to
the sum of (i) the Shared Incremental Amount, (ii) (A) the Incremental Prepayment Amount minus (B) the amount
of any Incremental Facility and/or Incremental Equivalent Debt incurred or implemented in reliance on clause (d) of the definition
of “Incremental Cap” and (iii) an additional unlimited amount, so long as, in the case of this clause (iii), on
a Pro Forma Basis:

 

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(A)            if
such Ratio Debt constitutes First Lien Debt, the First Lien Net Leverage Ratio does not exceed 4.75:1.00 as of the last day of the most
recently ended Test Period;

 

(B)            if
such Ratio Debt constitutes Second Lien Debt or Junior Lien Debt, the Secured Net Leverage Ratio does not exceed 6.60:1.00 as of the last
day of the most recently ended Test Period; or

 

(C)            if
such Ratio Debt is not secured by the Collateral, the Total Net Leverage Ratio does not exceed 6.60:1.00 as of the last day of the most
recently ended Test Period;

 

provided that (I) if such Ratio Debt
consists of third party Indebtedness for borrowed money, (X) the final maturity date of such Indebtedness is no earlier than the
Latest Maturity Date on the date of the issuance or incurrence thereof and (Y) the Weighted Average Life to Maturity applicable to
such Indebtedness is no shorter than the Weighted Average Life to Maturity of the then-existing Loans, (II) with respect to any Ratio
Debt that constitutes MFN Indebtedness, the Initial Loans shall benefit from the MFN Provision and (III) the aggregate outstanding
principal amount of Ratio Debt incurred or guaranteed by Restricted Subsidiaries that are not Loan Parties in reliance on this Section 6.01(w) shall
not, at any time, exceed an amount equal to the greater of $78,000,000 and 60% of Consolidated Adjusted EBITDA as of the last day of the
most recently ended Test Period.

 

(x)            Indebtedness
of the Borrower and/or any Subsidiary Guarantor incurred in respect of:

 

(i)             any
First Lien Facility and any First Lien Incremental Debt in an aggregate outstanding principal amount that does not exceed $846,000,000,
plus the aggregate outstanding principal amount of such First Lien Incremental Debt, in each case secured on a pari passu basis
with the First Lien Facility, so long as the sum of the aggregate outstanding principal amount of any such First Lien Incremental Debt
does not exceed 120% of the Incremental Cap (as defined in the First Lien Credit Agreement as in effect on the Closing Date),

 

(ii)            any
refinancing of any First Lien Facility or any such First Lien Incremental Debt after the Closing Date so long as (A) the aggregate
outstanding principal amount of such Indebtedness does not exceed the amount permitted to be incurred under preceding clause (i),
plus (1) an amount equal to unpaid accrued interest, penalties and premiums (including tender premiums) thereon, (2) the
amount of any underwriting discounts, other reasonable and customary fees, commissions and expenses (including upfront fees, original
issue discount or initial yield payments) incurred in connection with the relevant refinancing, (3) an amount equal to any existing
commitments unutilized thereunder and (4) any additional amount permitted to be incurred pursuant to this Section 6.01
(with additional amounts incurred in reliance on this clause (4) constituting a utilization of the relevant basket or exception
pursuant to which such additional amount is permitted) and (B) such Indebtedness, if secured, is secured by Liens permitted under
Section 6.02, and

 

(iii)           “Banking
Services Obligations” and Secured Hedging Obligations” (each as defined in the First Lien Credit Agreement (or any equivalent
term in any document governing any First Lien Facility));

 

(y)           Indebtedness
of the Borrower and/or any Restricted Subsidiary incurred in connection with any Sale and Lease-Back Transaction permitted pursuant to
Section 6.07;

 

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(z)            any
Incremental Equivalent Debt;

 

(aa)         Indebtedness
(including obligations in respect of letters of credit, bank guarantees, bankers’ acceptances, surety bonds, performance bonds or
similar instruments with respect to such Indebtedness) incurred by the Borrower and/or any Restricted Subsidiary in respect of workers
compensation claims, unemployment, property, casualty or liability insurance (including premiums related thereto) or self-insurance, other
reimbursement-type obligations regarding workers’ compensation claims, other types of social security, pension obligations, vacation
pay or health, disability or other employee benefits;

 

(bb)         Indebtedness
representing (i) deferred compensation to current or former directors, officers, employees, members of management, managers and consultants
of any Parent Company, the Borrower or any Subsidiary in the ordinary course of business and (ii) deferred compensation or other
similar arrangements in connection with the Transactions, any acquisition or any other Investment permitted hereby;

 

(cc)         Indebtedness
of the Borrower and/or any Restricted Subsidiary in respect of any letter of credit or bank guarantee issued in favor of any issuing bank
to support any defaulting lender’s participation in Letters of Credit (as defined in the documentation governing any First Lien
Facility) made under any First Lien Facility;

 

(dd)         Indebtedness
of the Borrower or any Restricted Subsidiary supported by any Letter of Credit (as defined in the documentation governing any First Lien
Facility) or any other letter of credit, bank guarantee or similar instrument permitted by this Section 6.01;

 

(ee)         unfunded
pension fund and other employee benefit plan obligations and liabilities incurred by the Borrower and/or any Restricted Subsidiary in
the ordinary course of business to the extent that the unfunded amounts would not otherwise cause an Event of Default under Section 7.01(i);

 

(ff)           customer
deposits and advance payments received in the ordinary course of business from customers for goods and services purchased in the ordinary
course of business;

 

(gg)         without
duplication of any other Indebtedness, all premiums (if any), interest (including post-petition interest and payment in kind interest),
accretion or amortization of original issue discount, fees, expenses and charges with respect to Indebtedness of the Borrower and/or any
Restricted Subsidiary hereunder;

 

(hh)         [reserved];

 

(ii)           Indebtedness
in respect of Receivables Facilities;

 

(jj)           Indebtedness
owed on a short-term basis to banks and other financial institutions in the ordinary course of business to manage cash balances; and

 

(kk)         Indebtedness
in respect of earnouts, seller notes or similar deferred purchase price obligations incurred in connection with any acquisition or other
Investment permitted hereby.

 

Section 6.02.          Liens.
The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, create, incur, assume or permit or suffer to exist
any Lien securing Indebtedness on or with respect to any property of any kind owned by it, whether now owned or hereafter acquired, or
any income or profits therefrom, except:

 

(a)           Liens
securing the Secured Obligations;

 

(b)           Liens
for Taxes which (i) are not then due, (ii) if due, are not at such time required to be paid pursuant to Section 5.03
or (iii) are being contested in accordance with Section 5.03;

 

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(c)           statutory
Liens (and rights of set-off) of landlords, banks, carriers, warehousemen, mechanics, repairmen, workmen and materialmen, and other Liens
imposed by applicable Requirements of Law, in each case incurred in the ordinary course of business (i) for amounts not yet overdue
by more than 60 days, (ii) for amounts that are overdue by more than 60 days and that are being contested in good faith by appropriate
proceedings, so long as any reserves or other appropriate provisions required by GAAP have been made for any such contested amounts or
(iii) for amounts with respect to which the failure to make payment would not reasonably be expected to have a Material Adverse Effect;

 

(d)           Liens
granted or arising (i) in the ordinary course of business in connection with workers’ compensation, unemployment insurance
and other types of social security laws and regulations, (ii) in the ordinary course of business to secure the performance of tenders,
statutory obligations, surety, stay, customs and appeal bonds, bids, leases, government contracts, trade contracts, performance and return-of-money
bonds and other similar obligations (exclusive of obligations for the payment of borrowed money), (iii) pursuant to pledges and deposits
of Cash or Cash Equivalents in the ordinary course of business securing (A) any liability for reimbursement or indemnification obligations
of insurance carriers providing property, casualty, liability or other insurance to the Borrower and its subsidiaries or (B) leases
or licenses of property otherwise permitted by this Agreement and (iv) to secure obligations in respect of letters of credit, bank
guaranties, surety bonds, performance bonds or similar instruments posted with respect to the items described in clauses (i) through
(iii) above;

 

(e)           Liens
consisting of survey exceptions, easements, rights-of-way, restrictions, encroachments, servitudes for railways, sewers, drains, gas and
oil and other pipelines, gas and water mains, electric light and power and telecommunication, telephone or telegraph or cable television
conduits, poles, wires and cables, covenants, conditions, declarations, encroachments, zoning restrictions and other defects or irregularities
in title or environmental deed restrictions, in each case, which do not, in the aggregate, materially interfere with the ordinary conduct
of the business of the Borrower and/or its Restricted Subsidiaries, taken as a whole;

 

(f)            Liens
consisting of any (i) interest or title of a lessor or sub-lessor under any lease of real estate permitted hereunder, (ii) landlord
lien permitted by the terms of any lease, (iii) restriction or encumbrance to which the interest or title of such lessor or sub-lessor
may be subject or (iv) subordination of the interest of the lessee or sub-lessee under such lease to any restriction or encumbrance
referred to in the preceding clause (iii);

 

(g)           Liens
(i) solely on any Cash earnest money deposits and/or arising in connection with any escrow arrangement made by the Borrower and/or
any of its Restricted Subsidiaries in connection with any letter of intent or purchase agreement with respect to any Investment permitted
hereunder and (ii) consisting of (A) an agreement to Dispose of any property in a Disposition permitted under Section 6.07
and/or (B) the pledge of Cash as part of an escrow arrangement required in any Disposition permitted under Section 6.07;

 

(h)           (i) purported
Liens evidenced by the filing of UCC financing statements or similar financing statements under applicable Requirements of Law relating
solely to operating leases or consignment or bailee arrangements entered into in the ordinary course of business, (ii) Liens arising
from precautionary UCC financing statements or similar filings and (iii) any Lien relating to the sale of accounts receivable for
which a UCC financing statement or similar financing statement is required;

 

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

 

(j)            Liens
in connection with any zoning, building, environmental or similar Requirements of Law or right reserved to or vested in any Governmental
Authority to control or regulate the use or dimensions of any real property or the structures thereon, including Liens in connection with
any condemnation or eminent domain proceeding or compulsory purchase order;

 

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(k)           Liens
securing Indebtedness permitted pursuant to Section 6.01(p) (solely with respect to the permitted refinancing of (1) Indebtedness
permitted pursuant to Sections 6.01(a), (i), (j), (m), (n), (r), (u), (w), (y),
(z), (gg) and/or (ii) and (2) Indebtedness that is secured in reliance on Section 6.02(u) (provided
that the granting of the relevant Lien shall be without duplication of any Lien outstanding under Section 6.02(u) such
that the amount available under Section 6.02(u) shall be reduced by the amount of the applicable Lien granted in reliance
on this clause (2))); provided, that (i) no such Lien extends to any asset not covered by the Lien securing (or permitted
to secure) the Indebtedness that is being refinanced (it being understood that individual financings of the type permitted under Section 6.01(m) provided
by any lender may be cross-collateralized to other financings of such type provided by such lender or its affiliates), (ii) if the
Lien securing the Indebtedness being refinanced was subject to intercreditor arrangements, then (A) the Lien securing any refinancing
Indebtedness in respect thereof shall be subject to intercreditor arrangements that are not materially less favorable to the Secured Parties,
taken as a whole, than the intercreditor arrangements governing the Lien securing the Indebtedness that is refinanced or (B) the
intercreditor arrangements governing the Lien securing the relevant refinancing Indebtedness shall be set forth in an Intercreditor Agreement,
(iii) except as permitted by another provision of this Section 6.02, no such Lien shall be senior in priority as compared
to the Lien securing the Indebtedness being refinanced and (iv) subject to clauses (i) through (iii) above,
any such Lien may be subject to an Intercreditor Agreement to the extent the Lien securing the Indebtedness being refinanced was permitted
to be subject to an Intercreditor Agreement;

 

(l)            Liens
in existence on the Closing Date and any modification, replacement, refinancing, renewal or extension thereof; provided, that any
such Lien securing Indebtedness having an aggregate principal amount outstanding on the Closing Date in excess of $10,000,000 shall be
described on Schedule 6.02; provided, further that (i) no such Lien extends to any additional property other
than (A) after-acquired property that is affixed or incorporated into the property covered by such Lien or financed by Indebtedness
permitted under Section 6.01 and (B) proceeds and products thereof, replacements, accessions or additions thereto and
improvements thereon (it being understood that individual financings of the type permitted under Section 6.01(m) provided
by any lender may be cross-collateralized to other financings of such type provided by such lender or its affiliates) and (ii) any
such modification, replacement, refinancing, renewal or extension of the obligations secured or benefited by such Liens, if constituting
Indebtedness, is permitted by Section 6.01;

 

(m)          Liens
arising out of Sale and Lease-Back Transactions permitted under Section 6.07;

 

(n)           Liens
securing Indebtedness permitted pursuant to Section 6.01(m); provided, that any such Lien shall encumber only the asset
acquired with the proceeds of such Indebtedness and proceeds and products thereof, replacements, accessions or additions thereto and improvements
thereon (it being understood that individual financings of the type permitted under Section 6.01(m) provided by any lender
may be cross-collateralized to other financings of such type provided by such lender or its affiliates);

 

(o)           Liens
securing Indebtedness permitted pursuant to Section 6.01(n) on the relevant acquired assets or on the Capital Stock and
assets of the relevant newly acquired Restricted Subsidiary and/or any future subsidiary of such Restricted Subsidiary (including, for
the avoidance of doubt, any after-acquired property of any such newly acquired subsidiary and/or any such subsidiary of such subsidiary);
provided, that no such Lien (i) extends to or covers any other assets (other than the proceeds or products thereof, replacements,
accessions or additions thereto and improvements thereon) (it being understood that (A) individual financings of the type permitted
under Section 6.01(m) provided by any lender may be cross collateralized to other financings of such type provided by
such lender or its affiliates and (B) any such Lien may extend to after-acquired property of any such Person) or (ii) was created
in contemplation of the applicable acquisition of assets or Capital Stock;

 

(p)           (i) Liens
that are contractual rights of setoff or netting relating to (A) the establishment of depositary relations with banks not granted
in connection with the issuance of Indebtedness, (B) pooled deposit or sweep accounts of the Borrower or any Restricted Subsidiary
to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Borrower or any Restricted
Subsidiary, (C) purchase orders and other agreements entered into with customers of the Borrower or any Restricted Subsidiary in
the ordinary course of business and (D) commodity trading or other brokerage accounts incurred in the ordinary course of business,
(ii) Liens encumbering reasonable customary initial deposits and margin deposits, (iii) bankers Liens and rights and remedies
as to Deposit Accounts, (iv) Liens of a collection bank arising under Section 4-208 of the UCC on items in the ordinary course
of business, (v) Liens in favor of banking or other financial institutions arising as a matter of Law or under customary general
terms and conditions encumbering deposits or other funds maintained with a financial institution and that are within the general parameters
customary in the banking industry or arising pursuant to such banking institution’s general terms and conditions, (vi) Liens
on the proceeds of any Indebtedness incurred in connection with any transaction permitted hereunder, which proceeds have been deposited
into an escrow account on customary terms to secure such Indebtedness pending the application of such proceeds to finance such transaction
and (vii) any general banking Lien over any bank account arising in the ordinary course of business;

 

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(q)           Liens
on assets owned by, and/or Capital Stock of, Restricted Subsidiaries that are not Loan Parties (including Capital Stock owned by such
Persons) securing Indebtedness of Restricted Subsidiaries that are not Loan Parties permitted pursuant to Section 6.01;

 

(r)            Liens
securing obligations (other than obligations representing Indebtedness for borrowed money) under operating, reciprocal easement or similar
agreements entered into in the ordinary course of business of the Borrower and/or its Restricted Subsidiaries;

 

(s)           Liens
securing Indebtedness incurred in reliance on, and subject to the provisions set forth in, Sections 6.01(w) and/or (z);
provided, that any Lien that is granted on the Collateral in reliance on this clause (s) shall be subject to an Intercreditor
Agreement unless, in the case of any Lien granted to secure Indebtedness incurred in reliance on Section 6.01(w), the holders
of such Indebtedness and the Administrative Agent have not requested or required an intercreditor arrangement;

 

(t)            Liens
securing Indebtedness and/or other obligations incurred pursuant to Section 6.01(x), subject to the Initial Intercreditor
Agreement and/or any other applicable Intercreditor Agreement;

 

(u)           Liens
on assets securing Indebtedness or other obligations in an aggregate principal amount at any time outstanding not to exceed the greater
of $120,000,000 and 90% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period; provided that, except
as permitted by another provision of this Section 6.02, no such Lien shall be senior in priority as compared to the Lien securing
the Obligations;

 

(v)           (i) Liens
on assets securing judgments, awards, attachments and/or decrees and notices of lis pendens and associated rights relating to litigation
being contested in good faith not constituting an Event of Default under Section 7.01(h) and (ii) any pledge and/or
deposit securing any settlement of litigation;

 

(w)          (i) leases,
licenses, subleases or sublicenses in the ordinary course of business which do not secure any Indebtedness and (ii) ground leases
in respect of real property on which facilities owned or leased by the Borrower or any of its subsidiaries are located;

 

(x)            Liens
on Securities that are the subject of repurchase agreements constituting Investments permitted under Section 6.06 arising
out of such repurchase transaction;

 

(y)           Liens
securing obligations in respect letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments permitted under
Sections 6.01(d), (e), (g), (aa) and (cc);

 

(z)            Liens
arising (i) out of conditional sale, title retention, consignment or similar arrangements for the sale of any asset in the ordinary
course of business and permitted by this Agreement or (ii) by operation of law under Article 2 of the UCC (or similar Requirement
of Law under any jurisdiction);

 

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(aa)         Liens
(i) in favor of any Loan Party and/or (ii) granted by any non-Loan Party in favor of any Restricted Subsidiary that is not a
Loan Party, in the case of clauses (i) and (ii), securing intercompany Indebtedness permitted (or not restricted) under
Section 5.16 or 6.01;

 

(bb)         Liens
on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto;

 

(cc)         (i) receipt
of progress payments and advances from customers in the ordinary course of business to the extent the same creates a Lien on the related
inventory and proceeds thereof and (ii) Liens on specific items of inventory or other goods and the proceeds thereof securing such
Person’s obligations in respect of documentary letters of credit or banker’s acceptances issued or created for the account
of such Person to facilitate the purchase, shipment or storage of such inventory or goods;

 

(dd)         Liens
securing (i) obligations of the type described in Section 6.01(f) and/or (ii) obligations of the type described
in Section 6.01(s);

 

(ee)          (i) Liens
on Capital Stock of (A) joint ventures securing capital contributions to, or obligations of, such Persons and/or (B) Unrestricted
Subsidiaries and (ii) customary rights of first refusal and tag, drag and similar rights in joint venture agreements and agreements
with respect to non-Wholly-Owned Subsidiaries;

 

(ff)           Liens
on cash or Cash Equivalents arising in connection with the defeasance, discharge or redemption of Indebtedness;

 

(gg)         Liens
consisting of the prior rights of consignees and their lenders under consignment arrangements entered into in the ordinary course of business;

 

(hh)         Liens
disclosed in any title insurance policy (or commitment) or survey delivered to the Administrative Agent with respect to any Material Real
Estate Asset and any replacement, extension or renewal thereof; provided that no such replacement, extension or renewal Lien shall
cover any property other than the property that was subject to such Lien prior to such replacement, extension or renewal (and additions
thereto, improvements thereon and the proceeds thereof);

 

(ii)           ground
leases in respect of real property on which facilities owned or leased by the Borrower or any of its Subsidiaries are located;

 

(jj)           Liens
consisting of (i) any reservation, limitation, proviso and/or condition, if any, expressed in any original grant from the Crown of
any real property or any interest therein and/or (ii) any right of expropriation, access, or user or any other right conferred or
vested by statutes of Canada or any applicable province;

 

(kk)         Liens
that do not secure Indebtedness for borrowed money and are customary in the operation of the business of the Borrower and its Restricted
Subsidiaries;

 

(ll)           Liens
on specific items of inventory or other goods and the proceeds thereof securing the relevant Person’s obligations in respect of
documentary letters of credit or banker’s acceptances issued or created for the account of such Person to facilitate the purchase,
shipment or storage of such inventory or goods;

 

(mm)       Liens
on Receivables Facility Assets granted or arising (or deemed to have been granted or arisen) in connection with any Receivables Facility;

 

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(nn)         Liens
arising in connection with escrow arrangements established in connection with the Transactions;

 

(oo)         Liens
on assets that do not constitute Collateral; and

 

(pp)         Liens
securing Indebtedness incurred in reliance on, and subject to the provisions set forth in, Section 6.01(r).

 

Notwithstanding anything to
the contrary in this Section 6.02, if the proceeds of any Indebtedness the liens securing which are required or permitted
to be subject to an Intercreditor Agreement are funded into Escrow, at the election of the Borrower, either (x) the relevant Intercreditor
Agreement shall not be required to be entered into or become effective until the release and/or termination of the relevant Escrow arrangement,
so long as, prior to such release and/or termination, the relevant Indebtedness is secured only by a Lien on such proceeds so funded into
Escrow or (y) the property subject to the applicable Escrow arrangement is not required to be subject to the relevant Intercreditor
Agreement.

 

Section 6.03.          [Reserved].

 

Section 6.04.          Restricted
Payments; Restricted Debt Payments.

 

(a)           The
Borrower shall not pay or make any Restricted Payment, except that:

 

(i)             the
Borrower may make, directly or indirectly, Restricted Payments to the extent necessary to permit any Parent Company:

 

(A)            to
pay general administrative and operating costs and expenses (including corporate overhead, legal or similar expenses and customary salary,
bonus and other benefits payable to any director, officer, employee, member of management, manager and/or consultant of any Parent Company)
and franchise Taxes, and similar fees and expenses required to maintain the organizational existence or qualification to do business of
such Parent Company, in each case, which are reasonable and customary and incurred in the ordinary course of business, plus the
amount of any reasonable and customary indemnification claim made by any director, officer, member of management, manager, employee and/or
consultant of any Parent Company, in each case, to the extent attributable to the ownership or operations of any Parent Company and/or
its subsidiaries (but excluding, for the avoidance of doubt, the portion of any such amount, if any, that is attributable to the ownership
or operations of any subsidiary of any Parent Company other than the Borrower and/or its subsidiaries);

 

(B)            for
so long as the Borrower, or its regarded owner, is a member of a group filing a consolidated, combined, unitary or similar tax return
of which Holdings or a Parent Company is the common parent, to pay (or to make any distribution to such Parent Company to pay) the aggregate
amount of consolidated, combined, unitary or similar group Tax liabilities attributable to the income of Holdings, the Borrower and its
Restricted Subsidiaries and, to the extent of the amount actually received from its Unrestricted Subsidiaries, in amounts required to
pay such Taxes to the extent attributable to the income of such Unrestricted Subsidiaries; provided that the amount of such payments
for any taxable year does not exceed the amount that Holdings, the Borrower, its Restricted Subsidiaries and (to the extent described
above) its Unrestricted Subsidiaries would have been required to pay for such year had Holdings, the Borrower, such Restricted Subsidiaries
and such Unrestricted Subsidiaries been a stand-alone group for applicable Tax purposes, taking into account any net operating losses
or other attributes of Holdings, the Borrower and such subsidiaries and provided further that any such distribution shall be reduced to
the extent any of the foregoing consolidated, combined, unitary or similar group Taxes are directly paid to any taxing authority by any
of Holdings, the Borrower and its subsidiaries;

 

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(C)            to
pay audit and other accounting and reporting expenses of any Parent Company to the extent such expenses are attributable to such Parent
Company, the Borrower and its subsidiaries (but excluding, for the avoidance of doubt, the portion of any such expenses, if any, that
is attributable to the ownership or operations of any subsidiary of any Parent Company other than the Borrower and/or its subsidiaries);

 

(D)            for
the payment of any insurance premium that is payable by or attributable to any Parent Company, the Borrower and/or its subsidiaries (but
excluding, for the avoidance of doubt, the portion of any such premium, if any, that is attributable to the ownership or operations of
any subsidiary of any Parent Company other than the Borrower and/or its subsidiaries);

 

(E)             to
pay (1) any fee and/or expense related to any debt and/or equity offering and/or any Public Company Transaction, investment or acquisition
(whether or not consummated) and/or any expense of, or indemnification obligation in favor of, any trustee, agent, arranger, underwriter
or similar role, and (2) Public Company Costs;

 

(F)             to
finance any Investment permitted under Section 6.06 (other than Section 6.06(t)) (provided, that (x) any
Restricted Payment under this clause (a)(i)(F) shall be made substantially concurrently with the closing of such Investment
(except with respect to any deferred purchase price or other contingent consideration, the Restricted Payments in respect of which may
be made after the closing of such Investment) and (y) the relevant Parent Company shall, promptly following the closing thereof,
cause (I) all property acquired to be contributed to the Borrower or one or more of its Restricted Subsidiaries, or (II) the
merger, consolidation or amalgamation of the Person formed or acquired into the Borrower or one or more of its Restricted Subsidiaries,
in order to consummate such Investment in compliance with the applicable requirements of Section 6.06 as if the relevant Investment
was undertaken as a direct Investment by the Borrower or the relevant Restricted Subsidiary); and

 

(G)            to
pay customary salary, bonus, severance and other benefits payable to current or former directors, officers, members of management,
managers, employees or consultants of any Parent Company (or any Immediate Family Member of any of the foregoing) to the extent such
salary, bonuses, severance and other benefits are attributable and reasonably allocated to the operations of the Borrower and/or its
subsidiaries, in each case, so long as such Parent Company applies the amount of any such Restricted Payment for such
purpose;

 

(ii)            the
Borrower may pay (or make Restricted Payments to allow any Parent Company) to repurchase, redeem, retire or otherwise acquire or retire
for value the Capital Stock of any Parent Company or any subsidiary held by any future, present or former employee, director, member of
management, officer, manager or consultant (or any Affiliate or Immediate Family Member thereof) of any Parent Company, the Borrower or
any subsidiary:

 

(A)            with
Cash and Cash Equivalents (and including, to the extent constituting a Restricted Payment, amounts paid in respect of promissory notes
issued to evidence any obligation to repurchase, redeem, retire or otherwise acquire or retire for value the Capital Stock of any Parent
Company, the Borrower or any subsidiary held by any future, present or former employee, director, member of management, officer, manager
or consultant (or any Affiliate or Immediate Family Member thereof) of any Parent Company, the Borrower or any subsidiary) in an amount
not to exceed, in any Fiscal Year, (I) prior to the consummation of a Public Company Transaction, the greater of $18,000,000 and
12% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period and (II) from and following the consummation
of a Public Company Transaction, the greater of $36,000,000 and 24% of Consolidated Adjusted EBITDA as of the last day of the most recently
ended Test Period, in each case, which, if not used in such Fiscal Year, shall be carried forward to succeeding Fiscal Years;

 

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(B)            with
the proceeds of any sale or issuance of, or any capital contribution in respect of, the Capital Stock of the Borrower or any Parent Company
(to the extent such proceeds are contributed in respect of Qualified Capital Stock to the Borrower or any Restricted Subsidiary); or

 

(C)            with
the net proceeds of any key-man life insurance policy;

 

(iii)           the
Borrower may make Restricted Payments in an amount not to exceed (A) the portion, if any, of the Available Amount on such date that
the Borrower elects to apply to this clause (iii)(A) and/or (B) the portion, if any, of the Available Excluded Contribution
Amount on such date that the Borrower elects to apply to this clause (iii)(B);

 

(iv)           the
Borrower may make Restricted Payments:

 

(A)            to
any Parent Company to enable such Parent Company to make Cash payments in lieu of the issuance of fractional shares in connection with
any dividend, split or combination thereof in connection with any Investment permitted hereunder or the exercise or vesting of warrants,
options, restricted stock units or similar incentive interests or other securities convertible into or exchangeable for Capital Stock
of such Parent Company or otherwise to honor a conversion requested by a holder thereof or

 

(B)            consisting
of (1) payments made or expected to be made in respect of withholding or similar Taxes payable by any future, present or former officers,
directors, employees, members of management, managers or consultants of the Borrower, any subsidiary of the Borrower or Parent Company
or any of their respective Immediate Family Members, (2) payments or other adjustments to outstanding Capital Stock in accordance
with any management equity plan, stock option plan or any other similar employee benefit or incentive plan, agreement or arrangement in
connection with any Restricted Payment and/or (3) repurchases of Capital Stock in consideration of the payments described in clauses
(1) and/or (2) above, including demand repurchases, in connection with the exercise or vesting of stock options,
restricted stock units or similar incentive interests;

 

(v)            the
Borrower may repurchase (or make Restricted Payments to any Parent Company to enable it to repurchase) Capital Stock upon the exercise
of warrants, options or other securities convertible into or exchangeable for Capital Stock if such Capital Stock represents all or a
portion of the exercise price of, or tax withholdings with respect to, such warrants, options or other securities convertible into or
exchangeable for Capital Stock;

 

(vi)           the
Borrower may make Restricted Payments, the proceeds of which are applied (A) to effect the consummation of the Transactions (including
the payment of the Special Dividend) and (B) to pay Transaction Costs;

 

(vii)          following
the consummation of the first Public Company Transaction, the Borrower may (or may make Restricted Payments to any Parent Company to enable
it to) make Restricted Payments with respect to any Capital Stock in an annual amount not to exceed the sum of (A) an amount equal
to 7.00% of the Net Proceeds received by or contributed to the Borrower from any Public Company Transaction and (B) an amount equal
to 7.00% of Market Capitalization at the time of determinations;

 

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(viii)         the
Borrower may make Restricted Payments to (i) redeem, repurchase, retire or otherwise acquire any (A) Capital Stock (“Treasury
Capital Stock”) of the Borrower and/or any Restricted Subsidiary or (B) Capital Stock of any Parent Company, in the case
of each of subclauses (A) and (B), in exchange for, or out of the proceeds of the substantially concurrent sale (other
than to the Borrower and/or any Restricted Subsidiary) of, Qualified Capital Stock of the Borrower or any Parent Company to the extent
any such proceeds are contributed to the capital of the Borrower and/or any Restricted Subsidiary in respect of Qualified Capital Stock
(“Refunding Capital Stock”) and (ii) declare and pay dividends on any Treasury Capital Stock out of the proceeds
of the substantially concurrent sale (other than to the Borrower or a Restricted Subsidiary) of any Refunding Capital Stock;

 

(ix)           to
the extent constituting a Restricted Payment, the Borrower may consummate any transaction permitted by Section 5.16 (other
than Sections 5.16(d) and (j)), Section 6.06 (other than Sections 6.06(j) and (t)) and/or
Section 6.07 (other than Section 6.07(g));

 

(x)            the
Borrower may make Restricted Payments in an aggregate amount not to exceed the greater of $78,000,000 and 60% of Consolidated Adjusted
EBITDA as of the last day of the most recently ended Test Period;

 

(xi)           if
no Event of Default under Section 7.01(a), (f) or (g) exists immediately before or after giving effect thereto, the Borrower
may make Restricted Payments so long as the Total Net Leverage Ratio, calculated on a Pro Forma Basis, would not exceed 4.85:1.00 as of
the last day of the most recently ended Test Period;

 

(xii)          the
Borrower may declare and make dividend payments or other Restricted Payments payable solely in the Capital Stock of the Borrower or of
any Parent Company;

 

(xiii)         the
Borrower may make Restricted Payments (other than in the form of Cash and Cash Equivalents) in connection with and/or relating to any
internal reorganization or restructuring activities (including related to tax planning activities or in connection with, or in preparation
for, a Public Company Transaction); provided that such activities do not result in any Capital Stock of the Borrower becoming an
Excluded Asset;

 

(xiv)         the
Borrower may make payments or distributions to satisfy dissenters’ or appraisal rights, pursuant to or in connection with a consolidation,
amalgamation, merger or transfer of assets that complies with Section 6.07;

 

(xv)          Restricted
Payments necessary or advisable in connection with the consummation of any PCT Reorganization Transaction shall be permitted;

 

(xvi)         [reserved];
and/or

 

(xvii)        any
payment in connection with (or to allow the Public Entity to make any payment in connection with) (A) any Permitted Bond Hedge Transaction
and/or (B) the settlement of any Permitted Warrant Transaction by (1) delivery of shares of the Public Entity’s common
equity upon settlement thereof or (2) by (x) set-off against the related Permitted Bond Hedge Transaction or (y) payment
of an early termination amount in common equity upon any early termination thereof, in each case, shall be permitted.

 

It is understood and agreed
that, for purposes of this Section 6.04(a), any determination of the value of any asset other than Cash shall be made by the
Borrower in good faith.

 

Notwithstanding the foregoing,
in no event shall the Borrower distribute, by dividend or otherwise, the Capital Stock of any Rao’s Entity.

 

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(b)           The
Borrower shall not, nor shall it permit any Restricted Subsidiary to make any voluntary prepayment in Cash in respect of principal outstanding
of Restricted Debt, including any sinking fund or similar deposit, on account of the voluntary prepayment, repurchase, purchase, redemption,
retirement, acquisition, cancellation or termination of any Restricted Debt, in each case, more than one year prior to the scheduled maturity
date thereof (collectively, “Restricted Debt Payments”), except:

 

(i)             with
respect to any purchase, defeasance, redemption, refinancing repurchase, repayment or other acquisition or retirement thereof made by
exchange for, or out of the proceeds of, Indebtedness permitted by Section 6.01;

 

(ii)            as
part of an applicable high yield discount obligation catch-up payment;

 

(iii)           payments
of regularly scheduled principal or regularly scheduled interest (including any penalty interest, if applicable) and payments of fees,
expenses and indemnification obligations as and when due (other than payments that are prohibited by the subordination provisions thereof);

 

(iv)           Restricted
Debt Payments in an aggregate amount not to exceed (A) the greater of $78,000,000 and 60% of Consolidated Adjusted EBITDA as of the
last day of the most recently ended Test Period, plus (B) at the election of the Borrower, the amount of Restricted Payments
then permitted to be made by the Borrower in reliance on Section 6.04(a)(x) (it being understood that any amount utilized
under this clause (B) to make a Restricted Debt Payment shall result in a reduction in the amount available under Section 6.04(a)(x));

 

(v)            (A) Restricted
Debt Payments in exchange for, or with proceeds of any issuance of, Capital Stock of any Parent Company or Qualified Capital Stock of
the Borrower and/or any capital contribution in respect of Qualified Capital Stock of the Borrower, (B) Restricted Debt Payments
as a result of the conversion of all or any portion of any Restricted Debt into Qualified Capital Stock of the Borrower or the Capital
Stock of any Parent Company and (C) to the extent constituting a Restricted Debt Payment, payment-in-kind interest with respect to
any Restricted Debt that is permitted under Section 6.01;

 

(vi)           Restricted
Debt Payments in an aggregate amount not to exceed (A) the portion, if any, of the Available Amount on such date that the Borrower
elects to apply to this clause (vi)(A) and/or (B) the portion, if any, of the Available Excluded Contribution Amount
on such date that the Borrower elects to apply to this clause (vi)(B);

 

(vii)          if
no Event of Default under Section 7.01(a), (f) or (g) exists immediately before or after giving effect thereto, Restricted
Debt Payments in an unlimited amount; provided, that after giving effect thereto the Total Net Leverage Ratio, calculated on a
Pro Forma Basis, would not exceed 5.10:1.00 as of the last day of the most recently ended Test Period;

 

(viii)         mandatory
prepayments of Restricted Debt (and related payments of interest) made with Declined Proceeds (it being understood that any Declined Proceeds
applied to make Restricted Debt Payments in reliance on this Section 6.04(b)(viii) shall not increase the amount available
under clause (a)(ix) of the definition of “Available Amount” to the extent so applied); and/or

 

(ix)           Restricted
Debt Payments in an aggregate amount not to exceed amount of Restricted Payments then permitted to be made in reliance on Sections
6.04(a)(ii) and/or Section 6.04(a)(vii) (it being understood that any amount utilized under this clause (ix) to
make a Restricted Debt Payment shall result in a reduction in the amount available under Section 6.04(a)(ii) and/or Section 6.04(a)(vii),
as applicable).

 

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Section 6.05.          Burdensome
Agreements. Except as provided herein or in any other Loan Document, the documentation governing any First Lien Facility, any document
with respect to any First Lien Incremental Debt or any Incremental Equivalent Debt and/or in any agreement with respect to any refinancing,
renewal or replacement of such Indebtedness that is permitted by Section 6.01, the Borrower shall not, nor shall it permit
any of its Restricted Subsidiaries to, enter into or cause to exist any agreement (any such agreement, a “Burdensome Agreement”)
restricting the ability of (x) any Restricted Subsidiary of the Borrower that is not a Loan Party to pay dividends or other distributions
to the Borrower or any Loan Party or (y) any Loan Party to create, permit or grant a Lien on any of its properties or assets to secure
the Secured Obligations (after giving effect to the applicable anti-assignment provisions of the UCC and/or any other applicable Requirement
of Law), except restrictions:

 

(a)           set
forth in any agreement governing (i) Indebtedness of a Restricted Subsidiary that is not a Loan Party permitted by Section 6.01,
(ii) Indebtedness permitted by Section 6.01 that is secured by a Permitted Lien if the relevant restriction applies only
to the Person obligated under such Indebtedness and its Restricted Subsidiaries or the assets intended to secure such Indebtedness and
(iii) Indebtedness permitted pursuant to clauses (j), (m), (p) (as it relates to Indebtedness in respect
of clauses (a), (m), (r), (u), (w), (y), (z), (ii) and/or (jj) of
Section 6.01), (r), (u), (w), (y), (z), (ii) and/or (jj) of Section 6.01;

 

(b)           arising
under customary provisions restricting assignments, subletting or other transfers (including the granting of any Lien) contained in leases,
subleases, licenses, sublicenses, joint venture agreements and other agreements entered into in the ordinary course of business;

 

(c)           that
are or were created by virtue of any Lien granted upon, transfer of, agreement to transfer or grant of, any option or right with respect
to any assets or Capital Stock not otherwise prohibited under this Agreement;

 

(d)           that
are assumed in connection with any acquisition of property or the Capital Stock of any Person, so long as the relevant encumbrance or
restriction relates solely to the Person and its subsidiaries (including the Capital Stock of the relevant Person or Persons) and/or property
so acquired and was not created in connection with or in anticipation of such acquisition;

 

(e)           set
forth in any agreement for any Disposition of any Restricted Subsidiary (or all or substantially all of the assets thereof) that restricts
the payment of dividends or other distributions or the making of cash loans or advances by such Restricted Subsidiary pending such Disposition;

 

(f)            set
forth in provisions in agreements or instruments which prohibit the payment of dividends or the making of other distributions with respect
to any class of Capital Stock of a Person other than on a pro rata basis;

 

(g)           imposed
by customary provisions in partnership agreements, limited liability company organizational governance documents, joint venture agreements
and other similar agreements;

 

(h)           on
Cash, other deposits or net worth or similar restrictions imposed by any Person under any contract entered into in the ordinary course
of business or for whose benefit such Cash, other deposits or net worth or similar restrictions exist;

 

(i)            set
forth in documents which exist on the Closing Date;

 

(j)            arising
pursuant to an agreement or instrument relating to any Indebtedness permitted to be incurred after the Closing Date if the relevant restrictions,
taken as a whole, are not materially less favorable to the Lenders than the restrictions contained in this Agreement, taken as a whole
(as determined in good faith by the Borrower);

 

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(k)           arising
under or as a result of applicable Requirements of Law or the terms of any license, authorization, concession or permit;

 

(l)            arising
in any Hedge Agreement and/or any agreement or arrangement relating to any Banking Services and/or any other obligation of the type permitted
under Section 6.01(f);

 

(m)           relating
to any asset (or all of the assets) of and/or the Capital Stock of the Borrower and/or any Restricted Subsidiary which is imposed pursuant
to an agreement entered into in connection with any Disposition of such asset (or assets) and/or all or a portion of the Capital Stock
of the relevant Person that is permitted or not restricted by this Agreement or that would result in the occurrence of the Termination
Date;

 

(n)           set
forth in any agreement relating to any Permitted Lien that limit the right of the Borrower or any Restricted Subsidiary to Dispose of
or encumber the assets subject thereto;

 

(o)           customary
subordination and/or subrogation provisions set forth in guaranty or similar documentation (not relating to Indebtedness for borrowed
money) that is entered into in the ordinary course of business;

 

(p)           any
restriction created in connection with any factoring program implemented in the ordinary course of business, so long as in the case of
any prohibition on Liens, the relevant restriction relates solely to assets subject to such factoring program and the Capital Stock of
any Person participating in such factoring program; and/or

 

(q)           imposed
by any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing of any contract, instrument
or obligation referred to in clauses (a) through (p) above; provided that no such amendment, modification,
restatement, renewal, increase, supplement, refunding, replacement or refinancing is, in the good faith judgment of the Borrower, more
restrictive with respect to such restrictions, taken as a whole, than those in existence prior to such amendment, modification, restatement,
renewal, increase, supplement, refunding, replacement or refinancing.

 

Section 6.06.          Investments.
The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, make or own any Investment in any other Person except:

 

(a)           Cash
or Investments that were Cash Equivalents at the time made;

 

(b)           (i) Investments
existing on the Closing Date in the Borrower or in any subsidiary and (ii) Investments made after the Closing Date, in, between and
among the Borrower and/or one or more Restricted Subsidiaries;

 

(c)           Investments
(i) constituting deposits, prepayments and/or credits to suppliers, (ii) made in connection with obtaining, maintaining or renewing
client and customer contracts or (iii) made in distributors, suppliers, licensors and licensees, in each case, in the ordinary course
of business or, in the case of clause (iii), to the extent necessary to maintain the ordinary course of supplies to the Borrower
or any Restricted Subsidiary;

 

(d)           Investments
in joint ventures and Unrestricted Subsidiaries in an aggregate outstanding amount not to exceed the greater of $65,000,000 and 50% of
Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period;

 

(e)           (i) Permitted
Acquisitions and (ii) any Investment in any Restricted Subsidiary that is not a Loan Party in an amount required to permit such Restricted
Subsidiary to directly, or indirectly through one or more other Restricted Subsidiaries, consummate a Permitted Acquisition, which amount
is applied, by such Restricted Subsidiary, directly or indirectly, through one or more other Restricted Subsidiaries to consummate such
Permitted Acquisition;

 

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(f)            Investments
(i) existing on, or contractually committed to or contemplated as of, the Closing Date; provided that, to the extent the outstanding
amount (or contractually committed or contemplated amount) of any such Investment on the Closing Date exceeds $10,000,000, such Investment
is described on Schedule 6.06 and (ii) any modification, replacement, renewal or extension of any Investment described in
clause (i) above so long as no such modification, renewal or extension increases the amount of such Investment except by the
terms thereof or as otherwise permitted by this Section 6.06;

 

(g)           Investments
received in lieu of Cash in connection with any Disposition permitted by Section 6.07 or any other disposition of assets not
constituting a Disposition;

 

(h)           loans
or advances to present or former employees, directors, members of management, officers, managers or consultants or independent contractors
(or their respective Immediate Family Members) of any Parent Company, the Borrower, its subsidiaries and/or any joint venture to the extent
permitted by Requirements of Law, in connection with such Person’s purchase of Capital Stock of any Parent Company or the Borrower,
either (i) in an aggregate principal amount not to exceed $3,000,000 at any one time outstanding or (ii) so long as the proceeds
of such loan or advance are substantially contemporaneously contributed (or deemed to have been contributed) to the Borrower for the purchase
of such Capital Stock;

 

(i)            Investments
consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in
the ordinary course of business;

 

(j)            Investments
consisting of (or resulting from) Indebtedness permitted under Section 6.01 (other than Indebtedness permitted under Sections
6.01(b) and (h)), Permitted Liens, Restricted Payments permitted under Section 6.04 (other than Section 6.04(a)(ix)),
Restricted Debt Payments permitted by Section 6.04 and mergers, consolidations, amalgamations, liquidations, windings up,
dissolutions or Dispositions permitted by Section 6.07 (other than Section 6.07(a) (if made in reliance on
subclause (ii)(B) of the proviso thereto), Section 6.07(c)(ii) (if made in reliance on clause (B) therein)
and Section 6.07(g));

 

(k)           Investments
(i) in the ordinary course of business consisting of endorsements for collection or deposit and customary trade arrangements with
customers and/or (ii) in the ordinary course of business and/or consistent with industry practice consisting of loans or advances
made to distributors;

 

(l)            Investments
(including debt obligations and Capital Stock) received (i) in connection with the bankruptcy or reorganization of any Person, (ii) in
settlement of delinquent obligations of, or other disputes with, customers, suppliers and other account debtors arising in the ordinary
course of business, (iii) upon foreclosure with respect to any secured Investment or other transfer of title with respect to any
secured Investment and/or (iv) as a result of the settlement, compromise, resolution of litigation, arbitration or other disputes;

 

(m)           loans
and advances of payroll payments or other compensation (including deferred compensation) to present or former employees, directors, members
of management, officers, managers or consultants of any Parent Company (to the extent such payments or other compensation relate to services
provided to such Parent Company (but excluding, for the avoidance of doubt, the portion of any such amount, if any, attributable to the
ownership or operations of any subsidiary of any Parent Company other than the Borrower and/or its subsidiaries)), the Borrower and/or
any subsidiary in the ordinary course of business;

 

(n)           Investments
to the extent that payment therefor is made with Capital Stock of any Parent Company or Qualified Capital Stock of the Borrower or any
Restricted Subsidiary, in each case, to the extent not resulting in a Change of Control; provided that in connection with any such
Investment, any payment (or portion thereof) not made with Capital Stock of any Parent Company or Qualified Capital Stock of the Borrower
or any Restricted Subsidiary must otherwise be permitted under this Section 6.06;

 

(o)           (i) Investments
of any Restricted Subsidiary acquired after the Closing Date, or of any Person acquired by, or merged into or consolidated or amalgamated
with, the Borrower or any Restricted Subsidiary after the Closing Date, in each case as part of an Investment otherwise permitted by this
Section 6.06 to the extent that such acquired Investments were not made in contemplation of or in connection with such acquisition,
merger, amalgamation or consolidation and were in existence on the date of the relevant acquisition, merger, amalgamation or consolidation
and (ii) any modification, replacement, renewal or extension of any Investment permitted under clause (i) of this Section 6.06(o) so
long as no such modification, replacement, renewal or extension thereof increases the original amount of such Investment, except as otherwise
permitted by this Section 6.06;

 

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(p)           Investments
made in connection with the Transactions;

 

(q)           Investments
made after the Closing Date by the Borrower and/or any of its Restricted Subsidiaries in an aggregate amount at any time outstanding not
to exceed:

 

(i)             (A) the
greater of $65,000,000 and 50% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period, plus
(B) at the election of the Borrower, the amount of Restricted Payments then permitted to be made by the Borrower in reliance on Section 6.04(a)(x) (it
being understood that any amount utilized under this clause (B) to make an Investment shall result in a reduction in the amount
available under Section 6.04(a)(x)), plus (C) at the election of the Borrower, the amount of Restricted Debt Payments
then permitted to be made by the Borrower or any Restricted Subsidiary in reliance on Section 6.04(b)(iv)(A) (it being
understood that any amount utilized under this clause (C) to make an Investment shall result in a reduction in the amount
available under Section 6.04(b)(iv)(A)), plus

 

(ii)            in
the event that (A) the Borrower or any of its Restricted Subsidiaries makes any Investment after the Closing Date in any Person that
is not a Restricted Subsidiary and (B) such Person subsequently becomes a Restricted Subsidiary, an amount equal to 100% of the fair
market value of such Investment as of the date on which such Person becomes a Restricted Subsidiary;

 

(r)            Investments
made after the Closing Date by the Borrower and/or any of its Restricted Subsidiaries in an aggregate outstanding amount not to exceed
(i) the portion, if any, of the Available Amount on such date that the Borrower elects to apply to this clause (r)(i) and/or
(ii) the portion, if any, of the Available Excluded Contribution Amount on such date that the Borrower elects to apply to this clause (r)(ii);

 

(s)            (i) Guarantees
of leases (other than Capital Leases) or of other obligations not constituting Indebtedness and (ii) Guarantees of the lease obligations
of suppliers, customers, franchisees and licensees of the Borrower and/or its Restricted Subsidiaries, in each case, in the ordinary course
of business;

 

(t)            Investments
in any Parent Company in amounts and for purposes for which Restricted Payments to such Parent Company are permitted under Section 6.04(a) (other
than Section 6.04(a)(i)(F)); provided that any Investment made as provided above in lieu of any such Restricted Payment
shall reduce availability under the applicable Restricted Payment basket under Section 6.04(a);

 

(u)           Investments
in Similar Businesses in an aggregate outstanding amount not to exceed the greater of $65,000,000 and 50% of Consolidated Adjusted EBITDA
as of the last day of the most recently ended Test Period;

 

(v)           Investments
in the Borrower and/or any subsidiary in connection with internal reorganizations and/or restructurings and/or activities related to tax
planning; provided, that, after giving effect to any such reorganization, restructuring or activity, in the good faith determination
of the Borrower, neither the Loan Guaranty, taken as a whole, nor the security interest of the Administrative Agent in the Collateral,
taken as a whole, is materially impaired;

 

(w)          Investments
under Derivative Transactions of the type permitted under Section 6.01(s);

 

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(x)            [reserved];

 

(y)           Investments
made in joint ventures as required by, or made pursuant to, customary buy/sell arrangements between the joint venture parties set forth
in joint venture agreements and similar binding arrangements entered into in the ordinary course of business;

 

(z)            Investments
made in connection with any nonqualified deferred compensation plan or arrangement for any present or former employee, director, member
of management, officer, manager or consultant or independent contractor (or any Immediate Family Member thereof) of any Parent Company,
the Borrower, its subsidiaries and/or any joint venture;

 

(aa)         Investments
in the Borrower, any Restricted Subsidiary and/or joint venture in connection with intercompany cash management arrangements and related
activities in the ordinary course of business;

 

(bb)         any
Investment so long as, after giving effect thereto on a Pro Forma Basis, the Secured Net Leverage Ratio does not exceed the 5.75:1.00
as of the last day of the most recently ended Test Period;

 

(cc)         any
Investment made by any Unrestricted Subsidiary prior to the date on which such Unrestricted Subsidiary is designated as a Restricted Subsidiary
so long as the relevant Investment was not made in contemplation of the designation of such Unrestricted Subsidiary as a Restricted Subsidiary;

 

(dd)         Investments
consisting of the licensing, sublicensing or contribution of IP Rights, including pursuant to joint marketing, collaboration or joint
development arrangements with other Persons in the ordinary course of business;

 

(ee)         any
loan and/or advance to any Parent Company not in excess of the amount (after giving effect to any other loan, advance or Restricted Payment
in respect thereof) of Restricted Payments that are permitted to be made to such Parent Company in accordance with Section 6.04(a)(i),
such Investment being treated for purposes of the applicable provision of Section 6.04(a), including any limitation, as a
Restricted Payment made pursuant to such clause;

 

(ff)           Investments
in an aggregate outstanding amount not to exceed amount of Restricted Payments then permitted to be made in reliance on Sections 6.04(a)(ii) and/or
Section 6.04(a)(viii) (it being understood that any amount utilized under this clause (ff) to make an Investment
shall result in a reduction in the amount available under Section 6.04(a)(ii) and/or Section 6.04(a)(vii),
as applicable);

 

(gg)         Investments
(i) of Receivables Facility Assets in connection with any Receivables Facility, (ii) necessary to permit the payment of fees,
expenses and/or indemnification obligations and/or the satisfaction of any repurchase obligation in connection with any Receivables Facility
and/or (iii) consisting of residual equity in any Receivables Subsidiary;

 

(hh)         [reserved];

 

(ii)           Investments
made in connection with any PCT Reorganization Transaction; and/or

 

(jj)           any
Permitted Bond Hedge Transaction;

 

(kk)         Investments
consisting of prepaid expenses, negotiable instruments held for collection and lease, utility and workers’ compensation, performance
and other similar deposits;

 

(ll)           Investments
in receivables owing to the Borrower and/or any Restricted Subsidiary in the ordinary course of business on customary trade terms, including
such concessionary trade terms as the Borrower or the relevant Restricted Subsidiary may deem reasonable under the applicable circumstances;
and/or

 

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(mm)       any
contribution to a “rabbi” trust for the benefit of any employee, director, consultant, independent contractor or other service
provider or any other grantor trust.

 

Notwithstanding the foregoing,
in no event shall the Borrower or any of its Restricted Subsidiaries (i)  contribute the Capital Stock of any Rao’s Entity,
MichaelAngelo Entity or Noosa Entity, as applicable, or the assets comprising the Rao’s Business, MichaelAngelo Business or Noosa
Business, as applicable, to any Unrestricted Subsidiary or (ii) contribute the Capital Stock of any Rao’s Entity or substantially
all of the assets comprising the Rao’s Business to any Restricted Subsidiary that is not a Loan Party.

 

Section 6.07.          Fundamental
Changes; Disposition of Assets. The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, merge, consolidate,
amalgamate, or liquidate, wind up or dissolve themselves (or suffer any liquidation or dissolution), or make any voluntary Disposition
of assets outside the ordinary course of business having a fair market value in excess of the greater of $36,000,000 and 24% of Consolidated
Adjusted EBITDA as of the last day of the most recently ended Test Period in any single transaction or series of related transactions
(including, in each case, pursuant to a Delaware LLC Division), except:

 

(a)           the
Borrower or any Subsidiary Guarantor may be merged, consolidated or amalgamated with another Person or, if applicable, effect a Delaware
LLC Division, or any Restricted Subsidiary may be merged, consolidated or amalgamated with or into the Borrower or any Restricted Subsidiary
or, if applicable, effect a Delaware LLC Division; provided that:

 

(i)             in
the case of any such merger, consolidation or amalgamation with or into the Borrower or any Delaware LLC Division relating to the Borrower,
(A) the Borrower shall be the continuing or surviving Person or (B) if the Person formed by or surviving any such merger, consolidation,
amalgamation or Delaware LLC Division is not the Borrower (any such Person, the “Successor Borrower”), (1) the
Successor Borrower shall be an entity organized or existing under the law of the US, any state thereof or the District of Columbia, (2) the
Successor Borrower shall expressly assume the Obligations of the Borrower in a manner reasonably satisfactory to the Administrative Agent
and (3) except as the Administrative Agent may otherwise agree, each Guarantor, unless it is the other party to such merger, consolidation
or amalgamation, shall have executed and delivered a reaffirmation agreement with respect to its obligations under the Loan Guaranty and
the other Loan Documents; it being understood and agreed that if the foregoing conditions under clauses (1) through (3) are
satisfied, the Successor Borrower will succeed to, and be substituted for, the Borrower under this Agreement and the other Loan Documents,
and

 

(ii)            in
the case of any such merger, consolidation, amalgamation or Delaware LLC Division with or into any Subsidiary Guarantor, either (A) the
Borrower or a Subsidiary Guarantor shall be the continuing or surviving Person or the continuing or surviving Person (or, in the case
of an amalgamation, the Person formed as a result thereof) shall expressly assume the obligations of such Subsidiary Guarantor in a manner
reasonably satisfactory to the Administrative Agent or (B) the relevant transaction shall be treated as an Investment and shall comply
with Section 6.06;

 

(b)           Dispositions
(including of Capital Stock) among the Borrower and/or any Restricted Subsidiary (upon voluntary liquidation or otherwise);

 

(c)           (i) the
liquidation, dissolution or Delaware LLC Division of any Restricted Subsidiary if the Borrower determines in good faith that (A) such
liquidation, dissolution or Delaware LLC Division is in the best interests of the Borrower and (B) is not materially disadvantageous
to the Lenders (taken as a whole) and (ii) the Borrower or any Restricted Subsidiary receives the assets (if any) of the relevant
liquidated, dissolved or divided Restricted Subsidiary; provided that in the case of any liquidation, dissolution or Delaware LLC
Division of any Loan Party that results in a distribution of assets to any Restricted Subsidiary that is not a Loan Party, such distribution
shall be treated as an Investment and shall comply with Section 6.06 (other than in reliance on clause (j) thereof);
(ii) any merger, amalgamation, dissolution, liquidation, consolidation or Delaware LLC Division, the purpose of which is to effect
(A) any Disposition otherwise permitted under this Section 6.07 (other than clause (a), clause (b) or
this clause (c)) or (B) any Investment permitted under Section 6.06 (other than Section 6.06(j));
and (iii) the conversion of the Borrower or any Restricted Subsidiary into another form of entity, so long as such conversion does
not, in the good faith determination of the Borrower, adversely affect the value of the Loan Guaranty or Collateral, if any;

 

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(d)            (i) Dispositions
of inventory or equipment or immaterial assets in the ordinary course of business (including on an intercompany basis) and (ii) the
leasing or subleasing of real property in the ordinary course of business;

 

(e)            Dispositions
of surplus, obsolete, used or worn out property or other property that, in the good faith judgment of the Borrower, is (A) no longer
useful in its business (or in the business of any Restricted Subsidiary of the Borrower) or (B) otherwise economically impracticable
to maintain, including any property abandoned in connection with the termination of any lease;

 

(f)            Dispositions
of Cash and/or Cash Equivalents and/or other assets that were Cash Equivalents when the relevant original Investment was made;

 

(g)            Dispositions,
mergers, amalgamations, consolidations or conveyances that constitute (or would result in) (i) Investments permitted pursuant to
Section 6.06 (other than Section 6.06(j)), (ii) Permitted Liens and (iii) Restricted Payments permitted
by Section 6.04(a) (other than Section 6.04(a)(ix));

 

(h)            Dispositions
for fair market value; provided, that

 

(i)            with
respect to any such Disposition (other than any Permitted Asset Swap) with a purchase price in excess of the greater of $36,000,000 and
24% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period, either (I) at least 75% of the consideration
for such Disposition (other than the portion of any such Disposition consisting of a Permitted Asset Swap) shall consist of Cash or Cash
Equivalents, or (II) at least 50% of the consideration for such Disposition (other than the portion of any such Disposition consisting
of a Permitted Asset Swap) shall consist of Cash or Cash Equivalents;

 

(ii)            for
purposes of the 75% Cash consideration requirement and the 50% Cash consideration requirement described immediately above:

 

(A)            the
amount of any Indebtedness or other liabilities (other than Indebtedness or other liabilities that are subordinated to the Obligations
or that are owed to the Borrower or any Restricted Subsidiary) of the Borrower or any Restricted Subsidiary (as shown on such Person’s
most recent balance sheet or statement of financial position (or in the notes thereto)) that are assumed by the transferee of any such
assets (or that are otherwise terminated or cancelled in connection with the transaction with such transferee) and for which the Borrower
and/or its applicable Restricted Subsidiary have been validly released by all relevant creditors in writing,

 

(B)            the
amount of any trade-in value applied to the purchase price of any replacement assets acquired in connection with such Disposition,

 

(C)            any
Security received by the Borrower or any Restricted Subsidiary from such transferee that will be converted by such Person into Cash or
Cash Equivalents (to the extent of the Cash or Cash Equivalents received) within 180 days following the closing of the applicable Disposition,
and

 

(D)            any
Designated Non-Cash Consideration received in respect of such Disposition having an aggregate fair market value, taken together with
all other Designated Non-Cash Consideration received pursuant to this clause (D) that is at that time outstanding, not
in excess of the greater of $48,000,000 and 36% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test
Period, in each case, shall be deemed to be Cash.

 

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(i)            to
the extent that (i) the relevant property is exchanged for credit against the purchase price of similar replacement property or (ii) the
proceeds of the relevant Disposition are promptly applied to the purchase price of such replacement property;

 

(j)            Dispositions
of Investments in joint ventures to the extent required by, or made pursuant to, buy/sell arrangements between joint venture or similar
parties set forth in the relevant joint venture arrangements and/or similar binding arrangements;

 

(k)            Dispositions,
discounting or forgiveness of notes receivable or accounts receivable in the ordinary course of business (including to insurers which
have provided insurance as to the collection thereof) or in connection with the collection or compromise thereof (including sales to factors);

 

(l)            Dispositions
and/or terminations of leases, subleases, licenses or sublicenses (including the provision of software under any open source license),
(i) the Disposition or termination of which will not materially interfere with the business of the Borrower and its Restricted Subsidiaries
(taken as a whole) or (ii) which relate to closed facilities or the discontinuation of any product line;

 

(m)            (i) any
termination of any lease in the ordinary course of business, (ii) any expiration of any option agreement in respect of real or personal
property and (iii) any surrender or waiver of contractual rights or the settlement, release or surrender of contractual rights or
litigation claims (including in tort) in the ordinary course of business;

 

(n)            Dispositions
of property subject to foreclosure, casualty, eminent domain or condemnation proceedings (including in lieu thereof or any similar proceeding);

 

(o)            Dispositions
or consignments of equipment, inventory or other assets (including leasehold interests in real property) with respect to facilities that
are temporarily not in use, held for sale or closed;

 

(p)            [reserved];

 

(q)            Dispositions
of non-core (as determined by the Borrower in good faith) assets acquired in connection with any acquisition or other Investment permitted
hereunder and sales of Real Estate Assets acquired in any acquisition or other Investment permitted hereunder; provided, that no
Event of Default under Sections 7.01(a), (f) or (g) exists on the date on which the definitive agreement
governing the relevant Disposition is executed;

 

(r)            exchanges
or swaps, including transactions covered by Section 1031 of the Code (or any comparable provision of any foreign jurisdiction), of
assets so long as any such exchange or swap is made for fair value (as determined by the Borrower in good faith) for like assets (including
Related Business Assets); provided that upon the consummation of any such exchange or swap by any Loan Party, to the extent the
assets received do not constitute an Excluded Asset, the Administrative Agent has a perfected Lien with the same priority as the Lien
held on the Real Estate Assets so exchanged or swapped;

 

(s)            Dispositions
of assets that do not constitute Collateral for fair market value;

 

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(t)            (i) any
Disposition, licensing, sublicensing and/or cross-licensing arrangement involving any technology, intellectual property or IP Right of
the Borrower or any Restricted Subsidiary in the ordinary course of business, and (ii) any Disposition, abandonment, cancellation
or lapse of any IP Right, or any issuance or registration, or application for issuance or registration, of any IP Right, which, in the
good faith determination of the Borrower is not material to the conduct of the business of the Borrower and its Restricted Subsidiaries,
taken as a whole, or are no longer economical to maintain in light of its use;

 

(u)            Dispositions
in connection with the termination or unwind of Derivative Transactions or Banking Services Obligations;

 

(v)            [reserved];

 

(w)            Dispositions
of Real Estate Assets and related assets in the ordinary course of business in connection with relocation activities for directors, officers,
employees, members of management, managers or consultants of any Parent Company, the Borrower and/or any Restricted Subsidiary;

 

(x)            Dispositions
made to comply with any order of any Governmental Authority or any applicable Requirement of Law (including as a condition to, or in connection
with, the consummation of the Transactions);

 

(y)            any
merger, consolidation, Disposition or conveyance the purpose of which is to reincorporate or reorganize (i) any Restricted Subsidiary
in another jurisdiction in the US and/or (ii) any Foreign Subsidiary in the US or any other jurisdiction;

 

(z)            any
sale of motor vehicles and information technology equipment purchased at the end of an operating lease and resold thereafter;

 

(aa)     Dispositions
involving assets having a fair market value of not more than the greater of $60,000,000 and 42% of Consolidated Adjusted EBITDA as of
the last day of the most recently ended Test Period in any Fiscal Year, which, if not used in such Fiscal Year, shall be carried forward
to succeeding Fiscal Years;

 

(bb)     Dispositions
in connection with reorganizations and/or restructurings and/or activities related to tax planning; provided that, after giving
effect to any such reorganization, restructuring or activity, in the good faith determination of the Borrower, neither the Loan Guaranty,
taken as a whole, nor the security interest of the Administrative Agent in the Collateral, taken as a whole, is materially impaired;

 

(cc)     Dispositions
of assets in connection with the closing or sale of an office in the ordinary course of business of the Borrower and the Restricted Subsidiaries,
which consist of leasehold interests in the premises of such office, the equipment and fixtures located at such premises and the books
and records relating exclusively and directly to the operations of such office; provided, that any such sale shall be at a commercially
reasonable price and on commercially reasonable terms in a bona fide arm’s-length transaction;

 

(dd)     [Reserved];

 

(ee)     (i) Equipment
Sale and Leaseback Transactions, (ii) Sale and Lease-Back Transactions with respect to property or assets built or constructed after
the Closing Date and (iii) other Sale and Lease-Back Transactions; provided, that in the case of this clause (iii),
the fair market value of all property so Disposed of after the Closing Date shall not exceed the greater of $78,000,000 and 60% of Consolidated
Adjusted EBITDA as of the last day of the most recently ended Test Period;

 

(ff)     any
transaction in connection with any PCT Reorganization Transaction;

 

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(gg)     any
Disposition of any Receivables Facility Asset (and/or any participation therein) in connection with any Receivables Facility;

 

(hh)     the
Borrower may merge with or into any Person that is not a Restricted Subsidiary (other than Holdings) as long as (i) the Borrower
is the continuing or surviving Person and (ii) the relevant transaction does not result in a Change of Control or otherwise violate
the terms of this Agreement;

 

(ii)        the
settlement or early termination of any Permitted Bond Hedge Transaction and/or any related Permitted Warrant Transaction; and

 

(jj)        Dispositions
of any asset acquired with the proceeds of an Available Excluded Contribution Amount.

 

It is understood and agreed
that (a) to the extent that any Collateral is Disposed of as permitted by this Section 6.07, such Collateral shall be
Disposed of free and clear of the Liens created by the Loan Documents, which Liens shall be automatically released upon the consummation
of such Disposition, and the Administrative Agent shall be authorized to take, and shall take, any action reasonably requested by the
Borrower in order to effect the foregoing; provided, that in the case of a Disposition made to any Loan Party, the relevant transferred
assets shall become part of the Collateral of the transferee Loan Party (except to the extent such assets constitute Excluded Assets),
(b) any determination of the fair market value of any asset other than Cash for purposes of this Section 6.07 shall be
made by the Borrower in good faith at its election either (1) at the time of the execution of the definitive agreement governing
such Disposition or (2) the date on which such Disposition is consummated and (c) notwithstanding the foregoing, in no event
shall the Borrower or any Restricted Subsidiary (i) Dispose of the Capital Stock of any Rao’s Entity, MichaelAngelo Entity
or Noosa Entity, as applicable, or the assets comprising the Rao’s Business, MichaelAngelo Business or Noosa Business, as applicable,
to any Unrestricted Subsidiary or (ii) Dispose of the Capital Stock of any Rao’s Entity or substantially all of the assets
comprising the Rao’s Business to any Restricted Subsidiary that is not a Loan Party.

 

Section 6.08.     Amendments
of or Waivers with Respect to Restricted Debt. The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to,
amend or otherwise modify the subordination terms set forth in the documentation governing any Restricted Debt if the effect of such amendment
or modification, together with all other amendments or modifications made, is, in the good faith determination of the Borrower, materially
adverse to the interests of the Lenders (in their capacities as such); provided, that, for purposes of clarity, it is understood
and agreed that the foregoing limitation shall not otherwise prohibit any Refinancing Indebtedness or any other replacement, refinancing,
amendment, supplement, modification, extension, renewal, restatement or refunding of any Restricted Debt, in each case, that is otherwise
permitted to be incurred under this Agreement in respect thereof.

 

Section 6.09.     Holdings.
At any time prior to a Public Company Transaction, Holdings shall not:

 

(a)            create
or suffer to exist any Lien on any asset now owned or hereafter acquired by it other than (i) the Liens created under the Collateral
Documents to which it is a party, (ii) any other Lien created in connection with the Transactions, (iii) Permitted Liens on
the Collateral that are secured on a pari passu or junior basis with the Secured Obligations, so long as such Permitted Liens secure
Guarantees of Indebtedness or other obligations of the Borrower and/or any Restricted Subsidiary that are otherwise permitted hereunder
and the underlying Indebtedness subject to such Guarantee is permitted to be secured on the same basis pursuant to Section 6.02
and (iv) Liens of the type permitted under Section 6.02 (other than in respect of Indebtedness for borrowed money); or

 

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(b)            consolidate
or amalgamate with, or merge with or into, or convey, sell or otherwise Dispose of all or substantially all of its assets to, any Person;
provided, that (A) Holdings may consolidate or amalgamate with, or merge with or into, any other Person (other than the Borrower
and any of its Subsidiaries) so long as (x) Holdings is the continuing or surviving Person or (y) if the Person formed by or
surviving any such consolidation, amalgamation or merger is not Holdings (any such successor Person or acquirer referred to in clause
(B) below, “Successor Holdings”), (i) Successor Holdings shall be an entity organized or existing under
the law of the US, any state thereof or the District of Columbia and (ii) Successor Holdings shall expressly assume all Obligations
of Holdings under this Agreement and the other Loan Documents to which Holdings is a party pursuant to a supplement hereto and/or thereto
in a form reasonably satisfactory to the Administrative Agent, (B) Holdings may otherwise convey, sell or otherwise transfer all
or substantially all of its assets to any other Person (other than the Borrower and any of its Subsidiaries) so long as (x) no Change
of Control results therefrom, (y) Successor Holdings shall be an entity organized or existing under the law of the US, any state
thereof or the District of Columbia and (z) Successor Holdings shall expressly assume all of the Obligations of Holdings under this
Agreement and the other Loan Documents to which Holdings is a party pursuant to a supplement hereto and/or thereto in a form reasonably
satisfactory to the Administrative Agent; provided, further, that (1) if the conditions set forth in the preceding
proviso are satisfied, Successor Holdings will succeed to, and be substituted for, Holdings under this Agreement and (2) it is understood
and agreed that Holdings may convert into another form of entity organized or existing under the law of the US, any state thereof or the
District of Columbia so long as such conversion does not adversely affect the value of its Loan Guaranty or the Collateral and/or (C) Holdings
may consummate any PCT Reorganization Transaction.

 

Section 6.10.     Anti-layering.
The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to create, incur, assume or otherwise become or remain
liable with respect to any Indebtedness for borrowed money permitted (without giving effect to any reclassification) pursuant to (a) Section 6.01(n)(ii),
(r), (u), (w) or (z) or (b) Section 6.01(p) (with respect to such Sections
identified in the preceding clause (a)), in each case, of clauses (a) and (b), that would be senior, in terms of payment priority
or Lien priority, to the Obligations and junior, in terms of payment priority or Lien priority, to the obligations under the First Lien
Credit Agreement that constitute First Lien Debt.

 

ARTICLE 7

 

EVENTS OF DEFAULT

 

Section 7.01.     Events
of Default. If any of the following events (each, an “Event of Default”) shall occur:

 

(a)            Failure
To Make Payments When Due. Failure by the Borrower to pay (i) any installment of principal of any Loan when due, whether at stated
maturity, by acceleration, by notice of voluntary prepayment, by mandatory prepayment or otherwise; or (ii) any interest on any Loan
or any fee or any other amount due hereunder within five Business Days after the date due; or

 

(b)            Cross
Acceleration. (i) Failure by any Loan Party to pay when due any principal of or interest on or any other amount payable in respect
of one or more items of First Lien Debt for borrowed money of such Loan Party (other than intercompany Indebtedness) with an individual
outstanding principal amount exceeding the Threshold Amount, in each case beyond the grace period, if any, provided therefor; or (ii) breach
or default by any Loan Party with respect to any other term of (A) one or more items of First Lien Debt for borrowed money of such
Loan Party (other than intercompany Indebtedness) with an individual outstanding principal amount exceeding the Threshold Amount or (B) any
loan agreement, mortgage, indenture or other agreement relating to such item(s) of First Lien Debt (other than, for the avoidance
of doubt, with respect to Indebtedness consisting of Hedging Obligations, termination events or equivalent events pursuant to the terms
of the relevant Hedge Agreement which are not the result of any default thereunder by any Loan Party or any Restricted Subsidiary), in
each case beyond the grace period, if any, provided therefor; and (I) the holders of the applicable First Lien Debt have caused the
same to become due and payable prior to the scheduled maturity date thereof as a result thereof or (II) such default, event or condition
results from the failure to pay at maturity the Loans (as defined in the First Lien Credit Agreement or the equivalent term in the relevant
documentation governing the applicable First Lien Obligation); provided that clause (ii) of this paragraph (b) shall
not apply to First Lien Debt that becomes due as a result of the voluntary sale or transfer of the property securing such First Lien Debt
if such sale or transfer is permitted hereunder; or

 

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(c)            Breach
of Certain Covenants. Failure of any Loan Party, as required by the relevant provision, to perform or comply with Section 5.01(e)(i) (provided
that any Event of Default arising from a failure to deliver any notice of Default or Event of Default shall automatically be deemed to
have been cured (and no longer continuing) immediately upon the earlier to occur of (x) the delivery of notice of the relevant Default
or Event of Default and (y) the cessation of the existence of the underlying Default or Event of Default), in either case unless
a Responsible Officer of the Borrower (1) had knowledge of the underlying Default or Event of Default and (2) was aware that
delivery of such notice was required), Section 5.02 (as it applies to the preservation of the existence of the Borrower),
or Article 6; or

 

(d)            Breach
of Representations, Etc. Any representation, warranty or certification made or deemed made by any Loan Party in any Loan Document
or in any certificate required to be delivered in connection herewith or therewith (including, for the avoidance of doubt, any Perfection
Certificate) being untrue in any material respect as of the date made or deemed made; it being understood and agreed that (i) any
breach of any representation, warranty or certification resulting from the failure of the Administrative Agent to file any Uniform Commercial
Code financing statement, amendment and/or continuation statement or the failure of the Administrative Agent to maintain possession of
any Collateral actually delivered to it shall not result in an Event of Default under this Section 7.01(d) or any other
provision of any Loan Document and (ii) if the relevant representation and warranty is capable of being cured (including by the delivery
of a restated certification or calculation or restated financial statements), no Default or Event of Default may arise under this Section 7.01(d) with
respect to such representation and warranty unless such representation and warranty remains incorrect in any material respect for a period
of 30 days following the delivery of a written notice by the Administrative Agent of the relevant inaccuracy to the Borrower; or

 

(e)            Other
Defaults Under Loan Documents. Default by any Loan Party in the performance of or compliance with any term contained herein or any
of the other Loan Documents, other than any such term referred to in any other Section of this Article 7, which default
has not been remedied or waived within 30 days after receipt by the Borrower of written notice thereof from the Administrative Agent;
or

 

(f)            Involuntary
Bankruptcy; Appointment of Receiver, Etc. (i) The entry by a court of competent jurisdiction of a decree or order for relief
in respect of the Borrower or any Subsidiary Guarantor (other than any Immaterial Subsidiary) in an involuntary case under any Debtor
Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief in respect of the Borrower or
any Subsidiary Guarantor (other than any Immaterial Subsidiary) shall be granted under any applicable federal, state or local Requirements
of Law, which relief is not stayed; or (ii) the commencement of an involuntary case against the Borrower or any Subsidiary Guarantor
(other than any Immaterial Subsidiary) under any Debtor Relief Law; the entry by a court having jurisdiction in the premises of a decree
or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee,
administrator, custodian or other officer having similar powers over the Borrower or any Subsidiary Guarantor (other than any Immaterial
Subsidiary), or over all or a material part of its property; or the involuntary appointment of an interim receiver, trustee or other custodian
of the Borrower or any Subsidiary Guarantor (other than any Immaterial Subsidiary) for all or a material part of its property, which remains,
in any case under this Section 7.01(f), undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days;
provided that it is understood and agreed that the occurrence of any event described in this clause (f)(ii) will
not result in a Default or Event of Default under this Agreement prior to the expiration of such 60 consecutive day period; or

 

(g)            Voluntary
Bankruptcy; Appointment of Receiver, Etc. (i) The entry against the Borrower or any Subsidiary Guarantor (other than any Immaterial
Subsidiary) of an order for relief in, or the commencement by the Borrower or any Subsidiary Guarantor (other than any Immaterial Subsidiary)
of, a voluntary case under any Debtor Relief Law, or the consent by the Borrower or any Subsidiary Guarantor (other than any Immaterial
Subsidiary) to the entry of an order for relief in an involuntary case or to the conversion of an involuntary case to a voluntary case,
under any Debtor Relief Law, or the consent by the Borrower or any Subsidiary Guarantor (other than any Immaterial Subsidiary) to the
appointment of or taking possession by a receiver, receiver and manager, insolvency receiver, liquidator, sequestrator, trustee, administrator,
custodian or other like official for or in respect of itself or for all or a material part of the property of the Borrower and any Subsidiary
Guarantor (other taken any Immaterial Subsidiary), taken as a whole or (ii) the making by the Borrower or any Subsidiary Guarantor
(other than any Immaterial Subsidiary) of a general assignment for the benefit of creditors; or

 

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(h)            Judgments
and Attachments. The entry or filing of one or more final money judgments, writs or warrants of attachment or similar process against
any Loan Party individually or any of their respective assets involving in the aggregate at any time an amount in excess of the Threshold
Amount (in either case, to the extent not adequately covered by indemnity from a third party (including any escrow arrangement), by self-insurance
(if applicable) or by insurance as to which, in the case of any such third party insurance, the relevant third party insurance company
has been notified and not denied coverage), which judgment, writ, warrant or similar process remains unpaid, undischarged, unvacated,
unbonded or unstayed pending appeal for a period of 60 consecutive days; provided that it is understood and agreed that the occurrence
of any event described in this clause (h) will not result in a Default or Event of Default under this Agreement prior
to the expiration of such 60 consecutive day period; or

 

(i)            Employee
Benefit Plans. The occurrence of one or more ERISA Events with respect to any Loan Party, which individually or in the aggregate result
in liability of any Loan Party in an aggregate amount which would reasonably be expected to result in a Material Adverse Effect; or

 

(j)            Change
of Control. The occurrence of a Change of Control; or

 

(k)            Guaranties,
Collateral Documents and Other Loan Documents. At any time after the execution and delivery thereof, (i) any material Loan Guaranty
for any reason, other than the occurrence of the Termination Date, shall cease to be in full force and effect (other than in accordance
with its terms) or shall be declared, by a court of competent jurisdiction, to be null and void or any Loan Guarantor shall repudiate
in writing its obligations thereunder (in each case, other than as a result of the discharge of such Loan Guarantor in accordance with
the terms thereof and other than as a result of any act or omission by the Administrative Agent or any Lender), (ii) this Agreement
or any material Collateral Document ceases to be in full force and effect or shall be declared, by a court of competent jurisdiction,
to be null and void or any Lien on a material portion of the Collateral created under any Collateral Document ceases to be perfected with
respect to a material portion of the Collateral (other than (A) Collateral consisting of Material Real Estate Assets to the extent
that the relevant losses are covered by a lender’s title insurance policy and such insurer has not denied coverage or (B) solely
by reason of (1) such perfection not being required pursuant to the Collateral and Guarantee Requirement, the Collateral Documents,
this Agreement or otherwise, (2) the failure of the Administrative Agent (or the First Lien Collateral Agent as its gratuitous bailee)
to maintain possession of any Collateral actually delivered to it or the failure of the Administrative Agent to file Uniform Commercial
Code financing statements, amendments or continuation statements, (3) a release of Collateral in accordance with the terms hereof
or thereof or (4) the occurrence of the Termination Date or any other termination of such Collateral Document in accordance with
the terms thereof) or (iii) other than in any bona fide, good faith dispute as to the scope of Collateral or whether any Lien has
been, or is required to be released, any Loan Party shall contest in writing, the validity or enforceability of any material provision
of any Loan Document (or any Lien purported to be created by the Collateral Documents on any material portion of the Collateral or any
Loan Guaranty) or deny in writing that it has any further liability (other than by reason of the occurrence of the Termination Date or
any other termination of any other Loan Document in accordance with the terms thereof), including with respect to future advances by the
Lenders, under any Loan Document to which it is a party; it being understood and agreed that the failure of the Administrative Agent to
file any Uniform Commercial Code financing statement, amendment or continuation statement and/or maintain possession of any physical Collateral
shall not result in an Event of Default under this Section 7.01(k) or any other provision of any Loan Document;

 

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(l)            Subordination.
The Obligations ceasing or the assertion in writing by any Loan Party that the Obligations cease to constitute senior indebtedness under
the subordination provisions of any document or instrument evidencing any Restricted Debt or any such subordination provision being invalidated
by a court of competent jurisdiction in a final non-appealable order, or otherwise ceasing, for any reason, to be valid, binding and enforceable
obligations of the parties thereto;

 

then, and in every such event (other than (x) an
event with respect to the Borrower described in Section 7.01(f) or Section 7.01(g), at any time thereafter
during the continuance of such event, the Administrative Agent may and at the request of the Required Lenders, shall by notice to the
Borrower, take any of the following actions, at the same or different times: (i) terminate the Commitments, and thereupon such Commitments
shall terminate immediately and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case
any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of
the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower
accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of
which are hereby waived by the Borrower; provided, that upon the occurrence of an event with respect to the Borrower described
in Section 7.01(f) or Section 7.01(g), any such Commitments shall automatically terminate and the principal
of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder,
shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby
waived by the Borrower without further action of the Administrative Agent or any Lender. Upon the occurrence and during the continuance
of an Event of Default, the Administrative Agent may, and at the request of the Required Lenders, shall exercise any rights and remedies
provided to the Administrative Agent under the Loan Documents or at law or equity, including all remedies provided under the UCC.

 

ARTICLE 8

 

THE ADMINISTRATIVE AGENT

 

Section 8.01.     Appointment
and Authorization of Administrative Agent. Each of the Lenders, on behalf of itself and its applicable Affiliates in their respective
capacities as such and as counterparties under Hedge Agreements and/or providers of Banking Services, as applicable, hereby irrevocably
appoint Owl Rock (or any successor appointed pursuant hereto) as Administrative Agent and authorizes the Administrative Agent to take
such actions on its behalf, including execution of the other Loan Documents, and to exercise such powers as are delegated to the Administrative
Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto.

 

Section 8.02.     Rights
as a Lender. Any Person serving as Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender
as any other Lender and may exercise the same as though it were not the Administrative Agent, and the term “Lender” or “Lenders”
shall, unless otherwise expressly indicated, unless the context otherwise requires or unless such Person is in fact not a Lender, include
each Person serving as Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from,
lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with any
Loan Party or any subsidiary of any Loan Party or other Affiliate thereof as if it were not the Administrative Agent hereunder. The Lenders
acknowledge that, pursuant to such activities, the Administrative Agent or its Affiliates may receive information regarding any Loan Party
or any of its Affiliates (including information that may be subject to confidentiality obligations in favor of such Loan Party or such
Affiliate) and acknowledge that the Administrative Agent shall not be under any obligation to provide such information to them.

 

Section 8.03.     Exculpatory
Provisions. The Administrative Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents.
Without limiting the generality of the foregoing:

 

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(a)            the
Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default
exists, and the use of the term “agent” herein and in the other Loan Documents with reference to the Administrative Agent
is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Requirements
of Law; it being understood that such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative
relationship between independent contracting parties;

 

(b)            the
Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary power, except discretionary
rights and powers that are expressly contemplated by the Loan Documents and which the Administrative Agent is required to exercise in
writing as directed by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the relevant
circumstances as provided in Section 9.02 or as required under Section 1.11 upon the determination of the First
Lien Collateral Agent); provided, that the Administrative Agent shall not be required to take any such action that, in its opinion
or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable
Requirements of Law;

 

(c)            except
as expressly set forth in the Loan 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 Holdings, the Borrower or any of its Restricted Subsidiaries that is communicated
to or obtained by the Person serving as Administrative Agent or any of its Affiliates in any capacity; it being understood that the Administrative
Agent shall not be liable to the Lenders or any other Secured Party for any action taken or not taken by it with the consent or at the
request of the Required Lenders (or such other number or percentage of the Lenders as is necessary, or as the Administrative Agent believes
in good faith shall be necessary, under the relevant circumstances as provided in Section 9.02) or in the absence of its own
gross negligence or willful misconduct, as determined by the final judgment of a court of competent jurisdiction, in connection with its
duties expressly set forth herein; and

 

(d)            the
Administrative Agent shall not be deemed to have knowledge of any Default or Event of Default unless and until written notice thereof
is given to the Administrative Agent by the Borrower or any Lender and such written notice is clearly identified as a “notice of
default”, and 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 Loan Document, (ii) the contents of any certificate, report or other
document delivered hereunder or in connection with any Loan Document, (iii) the performance or observance of any covenant, agreement
or other term or condition set forth in any Loan Document or the occurrence of any Default or Event of Default, (iv) the validity,
enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, (v) the creation,
perfection or priority of any Lien on the Collateral or the existence, value or sufficiency of the Collateral or to assure that the Liens
granted to the Administrative Agent pursuant to any Loan Document have been or will continue to be properly or sufficiently or lawfully
created, perfected or enforced or are entitled to any particular priority, (vi) the satisfaction of any condition set forth in Article 4
or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent
or (vii) any property, book or record of any Loan Party or any Affiliate thereof.

 

Section 8.04.     Exclusive
Right to Enforce Rights and Remedies. Notwithstanding anything to the contrary contained herein or in any of the other Loan Documents,
the Borrower, the Administrative Agent and each Secured Party agree that:

 

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(a)            (i) no
Secured Party shall have any right individually to realize upon any of the Collateral or to enforce the provisions of any Loan Document,
including this Agreement, the Security Agreement and/or the Loan Guaranty; it being understood that any right to enforce any such provision
(including to realize upon the Collateral or enforce any Loan Guaranty) against any Loan Party pursuant hereto or pursuant to any other
Loan Document may be exercised solely by the Administrative Agent on behalf of the Secured Parties in accordance with the terms hereof
or thereof, (ii) each Lender and/or each counterparty to a Hedge Agreement and/or any agreement governing any Banking Services Obligation
that is a Secured Party, in each case in their respective capacities as such, waives its right to commence any action, suit or litigation
against any Loan Party in connection with the Loan Documents without the consent of the Required Lenders and (iii) in the event of
a foreclosure by the Administrative Agent on any of the Collateral pursuant to a public or private sale or in the event of any other Disposition
(including pursuant to Section 363 of the Bankruptcy Code), (A) the Administrative Agent, as agent for and representative of
the Secured Parties, shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any
portion of the Collateral sold at any such sale, to use and apply all or any portion of the Obligations as a credit on account of the
purchase price for any Collateral payable by the Administrative Agent at such sale or other Disposition and (B) the Administrative
Agent or any Lender may be the purchaser or licensor of all or any portion of such Collateral at any such Disposition;

 

(b)            no
holder of any Secured Hedging Obligation or Banking Services Obligation in its respective capacity as such shall have any rights in connection
with the management or release of any Collateral or of the obligations of any Loan Party under this Agreement; and

 

(c)            each
Secured Party agrees that the Administrative Agent may in its sole discretion, but is under no obligation to credit bid any part of the
Secured Obligations or to purchase or retain or acquire any portion of the Collateral.

 

Section 8.05.     Reliance
by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon,
any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet
or intranet website posting or other distribution) that it believes to be genuine and to have been signed, sent or otherwise authenticated
by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to
have been made by the proper Person and shall not incur any liability for relying thereon. In determining compliance with any condition
hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume
that such condition is satisfactory to such Lender unless the Administrative Agent has received notice to the contrary from such Lender
prior to the making of such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent
accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice
of any such counsel, accountants or experts.

 

Section 8.06.     Delegation
of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers by or through any one
or more sub-agents appointed by it. The Administrative Agent and any such sub-agent may perform any and all 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 in connection with the syndication of the credit facilities provided for herein as well as activities as the Administrative
Agent.

 

Section 8.07.     Successor
Administrative Agent.

 

(a)            The
Administrative Agent may resign at any time by giving 30 days’ prior written notice to the Lenders and the Borrower; provided
that if no successor agent is appointed in accordance with the terms set forth below within such 30-day period, the Administrative Agent’s
resignation shall not be effective until the earlier to occur of (i) the date of the appointment of the successor agent or (ii) the
date that is specified in such notice (which shall be no earlier than 30 days after the date thereof) (or such later date as the resigning
Administrative Agent may agree). If the Administrative Agent is a Defaulting Lender or an Affiliate of a Defaulting Lender, either the
Required Lenders or the Borrower may, upon ten days’ notice, remove the Administrative Agent; provided that if no successor
agent is appointed in accordance with the terms set forth below within such 30-day period, the Administrative Agent’s removal shall,
at the option of the Borrower, not be effective until the earlier to occur of (A) the date of the appointment of the successor agent
or (B) the date that is 30 days after the last day of such 30-day period (or such later date as the Borrower may agree). Upon receipt
of any such notice of resignation or delivery of any such notice of removal, the Required Lenders shall have the right, with the consent
of the Borrower (not to be unreasonably withheld or delayed), to appoint a successor Administrative Agent which shall be a commercial
bank, trust company or other Person acceptable to the Borrower, in each case, with offices in the US having combined capital and surplus
in excess of $1,000,000,000; provided, that during the existence of an Event of Default under Section 7.01(a) or,
with respect to the Borrower, Sections 7.01(f) or (g), no consent of the Borrower shall be required.

 

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(b)            If
no successor has been appointed as provided above and accepted such appointment within 30 days after the resigning Administrative Agent
gives notice of its resignation or the Administrative Agent receives notice of removal (or such later date as the resigning Administrative
Agent may agree), then (i) in the case of a resignation, the resigning Administrative Agent may (but shall not be obligated to),
on behalf of the Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above (including, for the avoidance
of doubt, the consent of the Borrower) or (ii) in the case of a removal, the Borrower may, after consulting with the Required Lenders,
appoint a successor Administrative Agent meeting the qualifications set forth above; provided, that (A) in the case of a resignation,
if the Administrative Agent notifies the Borrower and the Lenders that no qualifying Person has accepted such appointment or (B) in
the case of a removal, the Borrower notifies the Required Lenders that no qualifying Person has accepted such appointment, then, in each
case, such resignation or removal shall nonetheless become effective in accordance with the provisos to the first two sentences in Section 8.07(a),
as applicable (unless the resigning Administrative Agent has agreed in its sole discretion to extend the effectiveness of its resignation)
and (1) the resigning or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the
other Loan Documents (except that in the case of any collateral security held by the Administrative Agent in its capacity as collateral
agent for the Secured Parties for purposes of maintaining the perfection of the Lien on the Collateral securing the Secured Obligations,
the resigning Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent
is appointed) and (2) all payments, communications and determinations required to be made by, to or through the Administrative Agent
shall instead be made by or to each Lender directly (and each Lender will cooperate with the Borrower to enable the Borrower to take such
actions), until such time as the Required Lenders or the Borrower, as applicable, appoint a successor Administrative Agent, as provided
above in this Article 8.

 

(c)            Upon
the acceptance of its appointment as Administrative Agent hereunder as a successor Administrative Agent, the successor Administrative
Agent shall succeed to and become vested with all the rights, powers, privileges and duties of the resigning or removed Administrative
Agent (other than any rights to indemnity payments owed to the resigning Administrative Agent), and the resigning or removed Administrative
Agent shall be discharged from its duties and obligations hereunder (if not already discharged therefrom as expressly provided above in
this Section 8.07) (other than its obligations under Section 9.13 hereof).

 

(d)            The
fees payable by the Borrower to any successor Administrative Agent shall not be greater than those payable to its predecessor unless otherwise
expressly agreed in writing between the Borrower and such successor Administrative Agent.

 

(e)            After
the Administrative Agent’s resignation or removal hereunder, the provisions of this Article and Section 9.03 shall
continue in effect for the benefit of such resigning or removed Administrative Agent, its sub-agents and their respective Related Parties
in respect of any action taken or omitted to be taken by any of them while the relevant Person was acting as Administrative Agent (including
for this purpose holding any collateral security following the resignation or removal of the Administrative Agent).

 

(f)            Notwithstanding
anything to the contrary herein, no Disqualified Institution (nor any Affiliate thereof) may be appointed as a successor Administrative
Agent.

 

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Section 8.08.     Non-Reliance
on Administrative Agent. Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or
any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance
upon the Administrative Agent or any other Lender or any of their respective Related Parties and based on such documents and information
as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon
this Agreement, any other Loan Document or related agreement or any document furnished hereunder or thereunder. Except for notices, reports
and other documents expressly required to be furnished to the Lenders by the Administrative Agent herein, the Administrative Agent shall
not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations,
property, financial and other condition or creditworthiness of any of the Loan Parties or any of their respective Affiliates which may
come into the possession of the Administrative Agent or any of its Related Parties.

 

Section 8.09.     Collateral
and Guarantee Matters. Each Lender and each other Secured Party irrevocably authorizes and instructs the Administrative Agent to,
and the Administrative Agent shall:

 

(a)            release
(or evidence the release of) any Lien on any property granted to or held by Administrative Agent under any Loan Document (i) upon
the occurrence of the Termination Date, (ii) that is sold or otherwise Disposed of (or to be sold or otherwise Disposed of) as part
of or in connection with any Disposition permitted under (or not restricted by) the Loan Documents (subject to the last paragraph of Section 6.07),
(iii) that does not constitute (or ceases to constitute) Collateral (and/or otherwise becomes an Excluded Asset), (iv) if the
property subject to such Lien is owned by a Subsidiary Guarantor, upon the release of such Subsidiary Guarantor from its Loan Guaranty
otherwise in accordance with the Loan Documents, (v) as required under clause (d) below, (vi) pursuant to the provisions
of any applicable Loan Document or (vii) if approved, authorized or ratified in writing by the Required Lenders in accordance with
Section 9.02;

 

(b)            subject
to Section 9.22, release (or evidence the release of) any Subsidiary Guarantor from its obligations under the Loan Guaranty
(i) if such Person ceases to be a Restricted Subsidiary (or is or becomes an Excluded Subsidiary as a result of a single transaction
or series of related transactions not prohibited hereunder) and/or (ii) in the case of any Discretionary Guarantor, at the election
of the Borrower at any time so long as (x) the Borrower shall have delivered written notice of such election to the Administrative
Agent and (y) after giving pro forma effect to such release and the consummation of the relevant transaction (if applicable), (1) the
Borrower is deemed to have made a new Investment in such Person in an amount equal to the aggregate outstanding amount of all Investments
made in such Person while such Person was a Discretionary Guarantor and (2) no Event of Default shall exist (including after giving
effect to clause (1)); provided that if any Subsidiary Guarantor ceases to constitute a Wholly-Owned Subsidiary, such Subsidiary
Guarantor shall not be released from its Loan Guaranty unless (A) such Subsidiary Guarantor is no longer a direct or indirect subsidiary
of the Borrower, (B) after giving pro forma effect to such release and the consummation of the relevant transaction, the Borrower
is deemed to have made a new Investment in such Person (as if such Person was then newly acquired) and such Investment is permitted by
the Loan Documents or (C) such Dispositions of Capital Stock is a good faith Disposition to a bona fide unaffiliated third party
(as determined by the Borrower in good faith) for fair market value and for a bona fide business purpose (as determined by the Borrower
in good faith); it being understood that this proviso shall not limit the release of any Subsidiary Guarantor that otherwise constitutes
an Excluded Subsidiary for any reason other than not constituting a Wholly-Owned Subsidiary of the Borrower (this proviso, the “Specified
Guarantor Release Provision”);

 

(c)            subordinate
any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien on such property
that is permitted by Sections 6.02(d), 6.02(e), 6.02(g)(i), 6.02(l), 6.02(m), 6.02(n), 6.02(o) (other
than any Lien on the Capital Stock of any Subsidiary Guarantor), 6.02(q), 6.02(r), 6.02(s), 6.02(t), 6.02(u),
6.02(x), 6.02(y), 6.02(z)(i), 6.02(bb), 6.02(cc), 6.02(dd) (in the case of clause (ii) thereof,
to the extent the relevant Lien covers cash collateral posted to secure the relevant obligation), 6.02(ee), 6.02(ff), 6.02(gg),
6.02(hh), 6.02(ii), 6.02(mm) and/or 6.02(pp) (to the extent the relevant Lien is of the type to which the Lien of the
Administrative Agent is otherwise required to be subordinated under this clause (c) pursuant to any of the other exceptions
to Section 6.02 that are expressly included in this clause (c)) (and, in each case, any Lien securing any Refinancing
Indebtedness in respect of any thereof to the extent such Refinancing Indebtedness is permitted to be secured under Section 6.02(k));

 

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(d)            enter
into subordination, intercreditor, collateral trust and/or similar agreements (including any Intercreditor Agreement and/or any amendment
to any Intercreditor Agreement) with respect to any Indebtedness that is (i) required or permitted to be subordinated hereunder and/or
(ii) secured by Liens, and with respect to which Indebtedness, this Agreement contemplates an intercreditor, subordination, collateral
trust or similar agreement, with each of the Lenders and the other Secured Parties irrevocably agreeing to the treatment of the Lien on
the Collateral securing the Secured Obligations as set forth in any such agreement and that it will be bound by and will take no action
contrary to the provisions of any such agreement; and

 

(e)            execute
and/or deliver, as applicable, any amendment to any UCC financing statement and/or any other document evidencing the security interest
granted pursuant to the Collateral Documents to indicate that Excluded Assets and/or other assets that do not constitute Collateral are
not subject to the security interest granted pursuant to the Collateral Documents.

 

Upon the request of the Administrative
Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release or subordinate its
interest in particular types or items of property, or to release any Loan Party from its obligations under the Loan Guaranty or its Lien
on any Collateral pursuant to this Article 8. In each case as specified in this Article 8, the Administrative
Agent will (and each Lender hereby authorizes the Administrative Agent to), without recourse or warranty (other than as to the Administrative
Agent’s authority to execute and deliver the same) and at the Borrower’s expense, execute and deliver to the applicable Loan
Party such documents as such Loan Party may reasonably request to evidence the release of such item of Collateral from the assignment
and security interest granted under the Collateral Documents, to subordinate its interest therein, or to release such Loan Party from
its obligations under the Loan Guaranty, in each case in accordance with the terms of the Loan Documents and this Article 8;
provided, that upon the request of the Administrative Agent, the Borrower shall deliver a certificate of a Responsible Officer
certifying that the relevant transaction has been consummated in compliance with the terms of this Agreement.

 

Notwithstanding anything to
the contrary in this Section 8.09 or in any other provision of any Loan Document, each Lender and each other Secured Party
hereby authorizes the Administrative Agent to, and the Administrative Agent shall, execute and deliver any instruments, documents, consents,
acknowledgments, and agreements necessary or desirable to evidence, effectuate or confirm the release of any Subsidiary Guarantor or Collateral
or the subordination of any Lien pursuant to the provisions of this Section 8.09.

 

It is understood and agreed
that, notwithstanding anything to the contrary herein, in any other Loan Document and/or in the documentation governing any Hedge Agreement
and/or any agreement governing Banking Services, (a) unless otherwise agreed to by the Borrower and any applicable counterparty to
any agreement governing any Secured Hedging Obligation and/or any Banking Service, the obligations of Holdings, the Borrower or any subsidiary
under any such agreement shall be secured and guaranteed pursuant to the Collateral Documents and the Loan Guaranty only to the extent
that, and for so long as, the Obligations are so secured and guaranteed and (b) any release of any Lien on any Collateral and/or
any Guarantor effected in a manner permitted by this Agreement and/or any other Loan Document shall not require the consent of any such
counterparty.

 

Section 8.10.     Intercreditor
Agreements. The Administrative Agent is authorized by the Lenders and each other Secured Party to, and shall, enter into any Intercreditor
Agreement and any other intercreditor, subordination, collateral trust or similar agreement contemplated hereby with respect to any (a) Indebtedness
(i) that is (A) required or permitted hereunder to be subordinated in right of payment or with respect to security and/or (B) secured
by any Lien and (ii) which contemplates an intercreditor, subordination, collateral trust or similar agreement and/or (b) Secured
Hedging Obligations and/or Banking Services Obligations, whether or not constituting Indebtedness (any such other intercreditor, subordination,
collateral trust and/or similar agreement an “Additional Agreement”), and the Secured Parties party hereto acknowledge
that any Intercreditor Agreement and any other Additional Agreement is binding upon them. Each Lender and each other Secured Party hereto
hereby (a) agrees that it will be bound by, and will not take any action contrary to, the provisions of any Intercreditor Agreement
or any other Additional Agreement and (b) authorizes and instructs the Administrative Agent to enter into any Intercreditor Agreement
and/or any other Additional Agreement and to subject the Liens on the Collateral securing the Secured Obligations to the provisions thereof.
The foregoing provisions are intended as an inducement to the Lenders and the other Secured Parties to extend credit to the Borrower,
and the Lenders and the other Secured Parties are intended third-party beneficiaries of such provisions and the provisions of any Intercreditor
Agreement and/or any other Additional Agreement.

 

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Section 8.11.     Indemnification
of Administrative Agent. To the extent that the Administrative Agent (or any Affiliate thereof) is not reimbursed and indemnified
by the Borrower in accordance with and to the extent required by Section 9.03(b) hereof, the Lenders will reimburse and
indemnify the Administrative Agent (and any Affiliate thereof) in proportion to their respective Applicable Percentages (determined as
if there were no Defaulting Lenders) for and against any and all liabilities, obligations, losses, damages, penalties, claims, actions,
judgments, costs, expenses or disbursements of whatsoever kind or nature which may be imposed on, asserted against or incurred by the
Administrative Agent (or any Affiliate thereof) in performing its duties hereunder or under any other Loan Document or in any way relating
to or arising out of this Agreement or any other Loan Document; provided that no Lender shall be liable for any portion of such
liabilities, obligations, losses, damages, penalties, claims, actions, judgments, suits, costs, expenses or disbursements resulting from
the Administrative Agent’s (or such affiliate’s) gross negligence or willful misconduct (as determined by a court of competent
jurisdiction in a final and non-appealable decision).

 

Section 8.12.     Withholding
Taxes. To the extent required by any applicable Requirements of Law (as determined in good faith by the Administrative Agent), the
Administrative Agent may withhold from any payment to any Lender under any Loan Document an amount equivalent to any applicable withholding
Tax. Without limiting or expanding the provisions of Section 2.17, each Lender shall indemnify and hold harmless the Administrative
Agent against, and shall make payable in respect thereof within ten days after demand therefor, any and all Taxes and any and all related
losses, claims, liabilities and expenses (including fees, charges and disbursements of any counsel for the Administrative Agent) incurred
by or asserted against the Administrative Agent by the IRS or any other Governmental Authority as a result of the failure of the Administrative
Agent to properly withhold Tax from amounts paid to or for the account of such Lender for any reason (including because the appropriate
form was not delivered or not properly executed because such Lender failed to notify the Administrative Agent of a change in circumstance
that rendered the exemption from, or reduction of withholding Tax ineffective or because such Lender failed to maintain a Participant/SPC
Register in the manner required by Section 9.05(c)). 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 this Agreement or any other Loan Document against any amount
due the Administrative Agent under this paragraph. The agreements in this paragraph shall survive the resignation or replacement of the
Administrative Agent or any assignment of rights by, or the replacement of, any Lender, the termination of the Commitments and the repayment,
satisfaction or discharge of all obligations under any Loan Document.

 

Section 8.13.     Administrative
Agent May File Proofs of Claim. In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization,
arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of
whether the principal of any Loans 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 the Loan Parties) shall be entitled and empowered, by intervention in such
proceeding or otherwise:

 

(a)            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 Secured
Parties and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the
Secured Parties and the Administrative Agent and their respective agents and counsel and all other amounts due the Secured Parties and
the Administrative Agent under Sections 2.12 and 9.03) allowed in such judicial proceeding; and

 

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

 

and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Secured 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 Secured Parties, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements
and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections
2.12 and 9.03.

 

Section 8.14.     Erroneous
Payments.

 

(a)            If
the Administrative Agent notifies a Lender or Secured Party, or any Person who has received funds on behalf of a Lender or Secured Party
(any such Lender, Secured Party or other recipient, a “Payment Recipient”) that the Administrative Agent has determined
in its sole discretion that any funds received by such Payment Recipient from the Administrative Agent or any of its Affiliates were erroneously
transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender, Secured
Party or other Payment Recipient on its behalf) (any such funds, whether received as a payment, prepayment or repayment of principal,
interest, fees, distribution or otherwise, individually and collectively, an “Erroneous Payment”) and demands the return
of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the Administrative
Agent and shall be segregated by the Payment Recipient and held in trust for the benefit of the Administrative Agent, and such Lender
or Secured Party shall (or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such Payment Recipient
to) promptly, but in no event later than two Business Days thereafter, return to the Administrative Agent the amount of any such Erroneous
Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest
thereon in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient
to the date such amount is repaid to the Administrative Agent in same day funds at the greater of the Federal Funds Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect. A notice
of the Administrative Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest error. If a Payment
Recipient receives any payment, prepayment or repayment of principal, interest, fees, distribution or otherwise and does not receive a
corresponding payment notice or payment advice from the Administrative Agent, such payment, prepayment or repayment shall be presumed
to be in error absent written confirmation from the Administrative Agent to the contrary.

 

(b)            Each
Lender or Secured Party hereby authorizes the Administrative Agent to set off, net and apply any and all amounts at any time owing to
such Lender or Secured Party under any Loan Document, or otherwise payable or distributable by the Administrative Agent to such Lender
or Secured Party from any source, against any amount due to the Administrative Agent under immediately preceding clause (a) or
under the indemnification provisions of this Article 8.

 

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(c)            For
so long as an Erroneous Payment (or portion thereof) has not been returned by any Payment Recipient who received such Erroneous Payment
(or portion thereof) (such unrecovered amount, an “Erroneous Payment Return Deficiency”) to the Administrative Agent
after demand therefor in accordance with clause (a) above, (i) the Administrative Agent may elect, in its sole discretion
upon written notice to the relevant Lender or Secured Party, that all rights and claims of such Lender or Secured Party with respect to
the Loans or other Obligations owed to such Person up to the amount of the corresponding Erroneous Payment Return Deficiency in respect
of such Erroneous Payment (the “Corresponding Amount”) shall immediately vest in the Administrative Agent upon such
election; after such election, with respect to Loans, the Administrative Agent (x) may reflect its ownership interest in the relevant
Loans in a principal amount equal to the Corresponding Amount in the Register, and (y) upon five business days’ written notice
to such Lender may sell such Loan (or portion thereof) to an Eligible Assignee in accordance with Section 9.05 in respect
of the Corresponding Amount, and upon receipt of the proceeds of such sale, the Erroneous Payment Return Deficiency owing by such Lender
shall be reduced by the net proceeds of the sale of such Loan (or portion thereof), and the Administrative Agent shall retain all other
rights, remedies and claims against such Lender (and/or against any Payment Recipient that receives funds on its behalf) and (ii) each
party hereto agrees that, except to the extent that the Administrative Agent has sold such Loans, and irrespective of whether the Administrative
Agent may be equitably subrogated, the Administrative Agent shall be contractually subrogated to all the rights and interests of such
Lender or Secured Party with respect to the relevant Erroneous Payment Return Deficiency (determined after any reductions as a result
of any such vesting described in clause (i)) (it being understood and agreed that aggregate Obligations of the Loan Parties shall
not be increased as a result of the application of this clause (ii)). For the avoidance of doubt, no vesting or sale pursuant to
this clause (c) will reduce the Commitments of any Lender and such Commitments shall remain available in accordance with the terms
of this Agreement.

 

(d)            The
parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by the
Borrower or any other Loan Party, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the amount
of such Erroneous Payment that is, comprised of funds received by the Administrative Agent from the Borrower or any other Loan Party for
the purpose of making such Erroneous Payment.

 

(e)            No
Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives, and is deemed to waive, 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 Erroneous Payment received, including without limitation waiver of any defense based on “discharge for value” or any
similar doctrine.

 

(f)            Each
party’s obligations, agreements and waivers under this Section 8.14 shall survive the resignation or replacement of the Administrative
Agent, any transfer of rights or obligations by, or the replacement of, a Lender, and the occurrence of the Termination Date.

 

(g)            This
Section 8.14 shall not apply to the disbursement of any proceeds of a Loan to or at the express direction of the Borrower unless
otherwise expressly agreed to in writing by the Borrower.

 

(h)            Notwithstanding
anything to the contrary herein or in any other Loan Document, the Borrower and the Loan Parties shall have no obligations or liabilities
for any actions, consequences or remediation (including the repayment of any amounts) contemplated by this Section 8.14; provided
that under no circumstances shall this Section 8.14(h) affect the Borrower’s or any Loan Parties’ obligations or
liabilities with respect to any Obligations that remain outstanding.

 

ARTICLE 9

 

MISCELLANEOUS

 

Section 9.01.     Notices.

 

(a)            Except
in the case of notices and other communications expressly permitted to be given by telephone (and subject to paragraph (b) below),
all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service,
mailed by certified or registered mail or sent by email, as follows:

 

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(i)             if
to any Loan Party, to such Loan Party in the care of the Borrower at: 

 

Sovos Brands Intermediate, Inc.

1901 Fourth St, Suite 200

Berkeley, CA 94710

Attention: Chris Hall

Email: chris@sovosbrands.com

 

with copies to (which shall not constitute
notice to any Loan Party):

 

Advent International Corporation

12 E. 49th Street, 45th Floor

New York, New York 10017

Attention: Ken Prince

Email: KPrince@AdventInternational.com

 

and

 

Weil, Gotshal & Manges LLP

767 Fifth Avenue

New York, New York 10153

Attention: Allison Liff

Email: allison.liff@weil.com

 

(ii)            if
to the Administrative Agent, at:

 

Owl Rock Capital Corporation

399 Park Avenue, 38th Floor

New York, New York 10022

Attn: Bryan Cole

Phone: 212.419.3035

Email: accounting@owlrock.com; adminagent@owlrock.com;
and

owlrockadminagent@alterdomus.com

 

and

 

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, New York 10017

Attention: Jason Kyrwood

Email: jason.kyrwood@davispolk.com

 

(iii)           if
to any Lender, to it at its physical address or email address set forth in its Administrative Questionnaire.

 

All such notices and other communications (A) sent
by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when delivered in
person or by courier service and signed for against receipt thereof or three Business Days after dispatch if sent by certified or registered
mail, in each case, delivered, sent or mailed (properly addressed) to the relevant party as provided in this Section 9.01
or in accordance with the latest unrevoked direction from such party given in accordance with this Section 9.01 or (B) sent
by facsimile shall be deemed to have been given when sent and when receipt has been confirmed by telephone; provided that notices
and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business
hours for the recipient, such notices or other communications shall be deemed to have been given at the opening of business on the next
Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in
clause (b) below shall be effective as provided in such clause (b).

 

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(b)            Notices
and other communications to the Lenders hereunder may be delivered or furnished by electronic communications (including e-mail and Internet
or intranet websites) pursuant to procedures set forth herein or otherwise approved by the Administrative Agent. The Administrative Agent
or the Borrower (on behalf of any Loan Party) may, in its discretion, agree to accept notices and other communications to it hereunder
by electronic communications pursuant to procedures set forth herein or otherwise approved by it; provided that approval of such
procedures may be limited to particular notices or communications. All such notices and other communications (i) sent to an e-mail
address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return
receipt requested” function, as available, return e-mail or other written acknowledgement); provided that any such notice
or communication not given during the normal business hours of the recipient shall be deemed to have been given at the opening of business
on the next Business Day for the recipient or (ii) 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 (b)(i) of notification that such
notice or communication is available and identifying the website address therefor.

 

(c)            Any
party hereto may change its address or facsimile number or other notice information hereunder by notice to the other parties hereto; it
being understood and agreed that the Borrower may provide any such notice to the Administrative Agent as recipient on behalf of itself
and each Lender.

 

(d)            The
Borrower hereby acknowledges that (a) the Administrative Agent will make available to the Lenders materials and/or information provided
by, or on behalf of, Holdings or the Borrower hereunder (collectively, the “Borrower Materials”) by posting the Borrower
Materials on the Platform and (b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not
wish to receive material nonpublic information within the meaning of the US federal securities laws with respect to Holdings, the Borrower
or their respective securities) (each, a “Public Lender”). At the reasonable request of the Administrative Agent, the
Borrower hereby agrees that (i) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously
marked “PUBLIC”, (ii) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized
the Administrative Agent and the Lenders to treat such Borrower Materials as information of a type that would (A) customarily be
made publicly available (or could be derived from publicly available information), as determined by the Borrower, if the Borrower were
to become a public reporting company or (B) would not be material with respect to Holdings, the Borrower, their respective subsidiaries,
any of their respective securities or the Transactions, as determined in good faith by the Borrower, for purposes of the US federal securities
laws and (iii) the Administrative Agent shall be required to treat Borrower Materials that are not marked “PUBLIC” as
being suitable only for posting on a portion of the Platform not marked as “Public Investor.” Notwithstanding the foregoing,
the Loan Documents shall be deemed to be marked “PUBLIC,” unless the Borrower notifies the Administrative Agent promptly that
any such document contains material nonpublic information (it being understood that the Borrower shall have a reasonable opportunity to
review the same prior to distribution and comply with SEC or other applicable disclosure obligations).

 

Each Public Lender agrees
to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information”
or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance
with such Public Lender’s compliance procedures and applicable law, including US federal and state securities laws, to make reference
to communications that are not made available through the “Public Side Information” portion of the Platform and that may contain
material non-public information with respect to the Borrower or its securities for purposes of US Federal or state securities laws.

 

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THE PLATFORM IS PROVIDED
 “AS IS” AND “AS AVAILABLE.” NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS RELATED PARTIES WARRANTS THE ACCURACY
OR COMPLETENESS OF THE COMMUNICATIONS ON, OR THE ADEQUACY OF, THE PLATFORM, AND EACH EXPRESSLY DISCLAIMS LIABILITY FOR ERRORS OR OMISSIONS
IN ANY SUCH COMMUNICATION. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT OF THIRD-PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS IS MADE BY THE ADMINISTRATIVE
AGENT OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL ANY PARTY HERETO OR ANY OF
ITS RELATED PARTIES HAVE ANY LIABILITY TO ANY OTHER PARTY HERETO OR ANY OTHER PERSON FOR DAMAGES OF ANY KIND, WHETHER OR NOT BASED ON
STRICT LIABILITY AND INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT,
CONTRACT OR OTHERWISE) ARISING OUT OF ANY LOAN PARTY’S OR THE ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH
THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND IN A FINAL RULING BY A COURT OF COMPETENT JURISDICTION TO
HAVE RESULTED FROM SUCH PERSON’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OR MATERIAL BREACH OF THIS AGREEMENT.

 

Section 9.02.     Waivers;
Amendments.

 

(a)            No
failure or delay by the Administrative Agent or any Lender in exercising any right or power hereunder or under any other Loan Document
shall operate as a waiver thereof except as provided herein or in any Loan Document, nor shall any single or partial exercise of any such
right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise
thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent hereunder and under any other
Loan Document are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision
of any Loan Document or consent to any departure by any party hereto therefrom shall in any event be effective unless the same is permitted
by this Section 9.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose
for which it is given. Without limiting the generality of the foregoing, to the extent permitted by applicable Requirements of Law, the
making of any Loan shall not be construed as a waiver of any Default or Event of Default, regardless of whether the Administrative Agent
or any Lender may have had notice or knowledge of such Default or Event of Default at the time.

 

(b)            Except
as expressly provided in this Section 9.02 (or otherwise in this Agreement or the applicable Loan Document), neither this
Agreement nor any other Loan Document nor any provision hereof or thereof may be waived, amended or modified, except (i) in the case
of this Agreement, pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders (or the Administrative
Agent with the consent of the Required Lenders) or (ii) in the case of any other Loan Document (other than any waiver, amendment
or modification to effectuate any modification thereto expressly contemplated by the terms of such other Loan Document), pursuant to an
agreement or agreements in writing entered into by the Administrative Agent and each Loan Party that is party thereto, with the consent
of the Required Lenders; provided, that, notwithstanding the foregoing:

 

(A)            the
consent of each Lender directly and adversely affected thereby (but not the consent of the Required Lenders) shall be required for any
waiver, amendment or modification that:

 

(1)            increases
the Commitment of such Lender (other than with respect to any Incremental Facility pursuant to Section 2.22 in respect of
which such Lender has agreed to be an Incremental Lender); it being understood that no amendment, modification or waiver of, or consent
to departure from, any condition precedent, representation, warranty, covenant, Default, Event of Default, mandatory prepayment or mandatory
reduction of the Commitments shall constitute an increase of any Commitment of such Lender;

 

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(2)            reduces
the principal amount of any Loan owed to such Lender;

 

(3)            (x) extends
the scheduled final maturity of any Loan or (y) postpones any Interest Payment Date with respect to any Loan held by such Lender
or the date of any scheduled payment of any fee or premium payable to such Lender hereunder (in each case, other than any extension for
administrative reasons agreed by the Administrative Agent);

 

(4)            reduces
the rate of interest (other than to waive any Default or Event of Default or any obligation of the Borrower to pay interest to such Lender
at the default rate of interest under Section 2.13(d), which shall only require the consent of the Required Lenders) or the
amount of any fee or premium owed to such Lender;

 

(5)            extends
the expiry date of such Lender’s Commitment; it being understood that no amendment, modification or waiver of, or consent to departure
from, any condition precedent, representation, warranty, covenant, Default, Event of Default, mandatory prepayment or mandatory reduction
of any Commitment shall constitute an extension of any Commitment of any Lender; and

 

(6)            waives,
amends or modifies the provisions of Sections 2.18(b) or (c) of this Agreement in a manner that would by its terms
alter the pro rata sharing of payments required thereby (except in connection with any transaction permitted under Sections 2.22,
2.23, 9.02(c) and/or 9.05(g) or as otherwise provided in this Section 9.02 or otherwise in
this Agreement);

 

(B)            no
such agreement shall:

 

(1)            change
any of the provisions of Section 9.02(a) or (b) or the definition of “Required Lenders”, in each
case to reduce any voting percentage required to waive, amend or modify any right thereunder or make any determination or grant any consent
thereunder, without the prior written consent of each Lender;

 

(2)            (A) release
all or substantially all of the Collateral from the Lien granted pursuant to the Collateral Documents (except as otherwise permitted herein
or in the other Loan Documents, including pursuant to Article 8 or Section 9.22), without the prior written consent
of each Lender or (B) prior to the occurrence of an Event of Default under Section 7.01(f) or (g), subordinate
the Lien on, and/or the right of payment with respect to, a material portion of the Collateral, taken as a whole (as determined by the
Borrower in good faith), securing the Secured Obligations to any other Indebtedness for borrowed money (other than in connection with
(I) any Acceptable Debtor-In-Possession Financing, (II) the implementation of an “asset-based” revolving credit
facility, Receivables Facility or similar financing and/or (III) any other financing with respect to which each relevant Lender has
been offered the opportunity to provide such financing) without the prior written consent of each Lender it being understood and agreed
that the amendment of Section 2.22, 2.23, 6.01, 6.02 and/or 9.02 to permit the incurrence of any
additional First Lien Debt shall not be subject to this clause (B); or

 

(3)            release
all or substantially all of the value of the Guarantees under the Loan Guaranty (except as otherwise permitted herein or in the other
Loan Documents, including pursuant to Article 8 or Section 9.22), without the prior written consent of each Lender;

 

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(C)            [reserved];

 

(D)            [reserved];
and

 

(E)            no
such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent without the prior written consent
of the Administrative Agent.

 

(c)            Notwithstanding
the foregoing, this Agreement may be amended:

 

(i)            with
the written consent of the Borrower and the Lenders providing the relevant Replacement Loans to permit the refinancing or replacement
of all or any portion of the outstanding Loans under any Class (any such loans being refinanced or replaced, the “Replaced
Loans”) with one or more replacement Loans hereunder (“Replacement Loans”) pursuant to a Refinancing Amendment;
provided that:

 

(A)           the
aggregate principal amount of any Class of Replacement Loans shall not exceed the aggregate principal amount of the relevant Replaced
Loans (plus (1) any additional amount permitted to be incurred under Section 6.01 and, to the extent any such
additional amount is secured, the related Lien is permitted under Section 6.02, plus (2) the amount of any accrued
interest, fee, expense, penalty and/or premium (including any tender premium) on the relevant Replaced Loans, any committed but undrawn
amount, and/or any underwriting discount, fees and/or initial yield payment associated therewith (including any upfront fee, original
issue discount and/or initial yield payment, commission and/or expense associated with the relevant Replacement Loan);

 

(B)            any
Class of Replacement Loans (other than Customary Bridge Loans) must have a final maturity date that is equal to or later than the
final maturity date of, and have a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of,
the applicable Replaced Loans at the time of the relevant refinancing;

 

(C)            any
Class of Replacement Loans may be pari passu with or junior to any then-existing Class of Loans in right of payment and may
be pari passu with or junior to such Class of Loans with respect to the Collateral or unsecured; provided that any Class of
Replacement Loans that is junior to any then-existing Class of Loan in right of payment or security shall be subject to an Intercreditor
Agreement;

 

(D)            any
Class of Replacement Loans that is secured may not be secured by any asset other than Collateral;

 

(E)            any
Class of Replacement Loans that is guaranteed may not be guaranteed by any subsidiary of the Borrower other than one or more Loan
Parties;

 

(F)            any
Class of Replacement Loans that is pari passu with the Initial Loans in right of payment and security may participate (A) in
any voluntary prepayment of Loans as set forth in Section 2.11(a)(i) and (B) in any mandatory prepayment of Loans
as set forth in Section 2.11(b)(vi);

 

(G)            any
Class of Replacement Loans may have pricing (including “MFN” or other pricing terms), interest, fees, rate margins, rate
floors, premiums (including prepayment premiums), funding discounts, and, subject to preceding clause (F), optional prepayment
and redemption terms and, subject to preceding clause (B), an amortization schedule, as the Borrower and the lenders providing
such Class of Replacement Loans may agree;

 

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(H)            the
other terms and conditions of any Class of Replacement Loans (except as set forth above) shall be deemed satisfactory to the Administrative
Agent so long as any such terms and conditions (1) that are not substantially consistent with those applicable to the relevant Replaced
Loans are applicable after the Latest Maturity Date of such Class of Replaced Loans (in each case, as of the date of incurrence of
such Class of Replacement Loans), (2) are substantially identical to, or (taken as a whole) no more favorable (as determined
by the Borrower in good faith) to the lenders providing such Class of Replacement Loans than those applicable to the relevant Replaced
Loans (other than such terms to which clause (1) is applicable), (3) reflect then-current market terms and conditions
(as determined by the Borrower in good faith) for the applicable type of Indebtedness or (4) are reasonably acceptable to the Administrative
Agent (it being agreed that terms and conditions of any Replacement Loans that are more favorable to the lenders or the agent of such
Replacement Loans than those contained in the Loan Documents and are then conformed (or added) to the Loan Documents pursuant to the applicable
Refinancing Amendment or otherwise shall be deemed to be satisfactory to the Administrative Agent); provided that any Replacement
Loan that constitutes a Customary Term A Loan may include one or more financial covenants that do not apply for the benefit of any Lender
that does not hold such Customary Term A Loan;

 

(I)             Replacement
Loans may be provided by any existing Lender or by any other Eligible Assignee; provided that the Administrative Agent shall have
a right to consent (such consent not to be unreasonably withheld, conditioned or delayed) to the relevant Person’s provision of
Replacement Loans if such consent would be required under Section 9.05(b) for an assignment of Loans to such Person;
and

 

(J)             the
relevant outstanding Replaced Loans and all accrued but unpaid interest and fees then due and payable in connection therewith shall be
paid in full, in each case on the date the applicable Replacement Loan is implemented; and

 

(ii)           [reserved];

 

provided, further, that, in respect
of sub-clause (i) of this clause (c), any Non-Debt Fund Affiliate and/or any Debt Fund Affiliate shall be permitted
without the consent of the Administrative Agent to provide any Class of Replacement Loans, it being understood that in connection
therewith, the relevant Non-Debt Fund Affiliate or Debt Fund Affiliate, as applicable, shall be subject to the restrictions applicable
to such Person under Section 9.05.

 

Each party hereto hereby agrees
that this Agreement may be amended by the Borrower, the Administrative Agent and the lenders providing the relevant Class of Replacement
Loans to the extent (but only to the extent) necessary to reflect the existence and terms of such Class of Replacement Loans, incurred
or implemented pursuant thereto (including any amendment necessary to treat the loans and commitments subject thereto as a separate “tranche”
and “Class” of Loans and/or commitments hereunder). It is understood that any Lender approached to provide all or a portion
of any Class of Replacement Loans, may elect or decline, in its sole discretion, to provide such Class of Replacement Loans.

 

(d)           Notwithstanding
anything to the contrary contained in this Section 9.02 or any other provision of this Agreement or any provision of any other
Loan Document:

 

(i)            the
Borrower and the Administrative Agent may, without the input or consent of any Lender, amend, supplement and/or waive this Agreement and/or
any guaranty, collateral security agreement, pledge agreement and/or related document (if any) executed in connection with this Agreement
to (A) comply with any Requirement of Law or the advice of counsel or (B) cause any such guaranty, collateral security agreement,
pledge agreement or other document to be consistent with this Agreement and/or the relevant other Loan Documents,

 

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(ii)            the
Borrower and the Administrative Agent may, without the input or consent of any other Lender (other than the relevant Lenders providing
Loans under such Sections), effect amendments to this Agreement and the other Loan Documents as may be necessary or advisable in the reasonable
opinion of the Borrower and the Administrative Agent to (A) effect the provisions of Sections 2.22, 2.23, 5.12,
5.17, 5.18 and/or 9.02(c), or any other provision of this Agreement or any other Loan Document specifying that any
waiver, amendment or modification may be made with the consent or approval of the Administrative Agent, (B) add terms (including
representations and warranties, conditions, prepayments, covenants or events of default) that are favorable to the then-existing Lenders,
as reasonably determined by the Administrative Agent (it being understood that, where applicable, any such amendment may be effectuated
as part of an Incremental Facility Amendment, an Extension Amendment and/or a Refinancing Amendment) and/or (C) in connection with
the establishment of a tranche of Customary Term A Loans under this Agreement pursuant to any Incremental Amendment and/or any Refinancing
Amendment, incorporate a “financial maintenance covenant” that only applies for the benefit of the lenders in respect of such
facility (but not any other Lender); it being understood that the Borrower and the Administrative Agent are hereby authorized under this
clause (ii)(C) to amend such provisions of this Agreement (including, without limitation, Section 7.01 and this
Section 9.02) as may be necessary to establish such financial maintenance covenant and ensure that only the Lenders in respect
of such Customary Term A Loans have rights with respect thereto provided that any Replacement Loan that constitutes a Customary
Term A Loan may include one or more financial covenants that do not apply for the benefit of any Lender that does not hold such Customary
Term A Loan,

 

(iii)          if
the Administrative Agent and the Borrower have jointly identified any ambiguity, mistake, defect, inconsistency, obvious error or any
error or omission of a technical nature or any necessary or desirable technical change, in each case, in any provision of any Loan Document,
then the Administrative Agent and the Borrower shall be permitted to amend such provision solely to address such matter as reasonably
determined by them,

 

(iv)          the
Administrative Agent and the Borrower may amend, restate, amend and restate or otherwise modify any Intercreditor Agreement and/or any
other Additional Agreement as provided therein,

 

(v)           the
Administrative Agent may amend the Commitment Schedule to reflect assignments entered into pursuant to Section 9.05, Commitment
reductions or terminations pursuant to Section 2.09, implementations of Additional Commitments or incurrences of Additional
Loans pursuant to Sections 2.22, 2.23 or 9.02(c) and reductions or terminations of any such Additional Commitments
or Additional Loans,

 

(vi)          no
Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except as permitted pursuant
to Section 2.21(b),

 

(vii)         this
Agreement may be amended (or amended and restated) with the written consent of the Required Lenders, the Administrative Agent and the
Borrower (i) to add one or more additional credit facilities to this Agreement and to permit any extension of credit from time to
time outstanding thereunder and the accrued interest and fees in respect thereof to share ratably in the relevant benefits of this Agreement
and the other Loan Documents and (ii) to include appropriately the Lenders holding such credit facilities in any determination of
the Required Lenders on substantially the same basis as the Lenders prior to such inclusion,

 

(viii)        any
amendment, waiver or modification of any term or provision that solely affects Lenders under one or more Classes and does not directly
and adversely affect Lenders under one or more other Classes (including any waiver or modification of any condition to any extension of
credit under any Class of Commitments, pricing or other modification) may be effected with the consent of Lenders owning more than
50% of the aggregate commitments or Loans of such directly affected Class in lieu of the consent of the Required Lenders,

 

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(ix)           this
Agreement may be amended in the manner prescribed in Section 1.13,

 

(x)            this
Agreement may be amended in the manner prescribed in Sections 2.22(i) and 2.23(c); it being understood and agreed
that any such amendment may provide that with respect to any Class of Loans and/or Commitments that is structured as a “delayed
draw” or similar facility, (i) any condition precedent to the funding of any Loan thereunder and/or (ii) any Event of
Default arising as a result of any inaccuracy of any representation and/or warranty (including any certification) made in connection with
the satisfaction of any such condition precedent, in each case, may be waived, amended or modified solely with the consent of a majority
of the holders of such Loans and/or Commitments (or such other percentage of such holders as may be required in the amendment implementing
such Class of Loans and/or Commitments (and without the consent of the Required Lenders or any other Lenders),

 

(xi)           for
the avoidance of doubt, any “MFN” provision, including, without limitation, Sections 2.22(a)(v), may be amended solely
with the consent of the Borrower and the Required Lenders, and

 

(xii)          the
Required Lenders, without the consent of any other Lender, may (A) rescind any acceleration of the Loans and/or any other Obligation
pursuant to Article 7 hereof and/or (B) agree that the Administrative Agent and the Lenders will forbear from exercising
any remedy provided under any Loan Document with respect to any Event of Default.

 

(e)            It
is understood that:

 

(i)             notwithstanding
anything to the contrary herein, in connection with any determination as to whether the Required Lenders have (A) consented (or not
consented) to any amendment or waiver of any provision of this Agreement or any other Loan Document or any departure by any Loan Party
therefrom, (B) otherwise acted on any matter related to any Loan Document, or (C) directed or required the Administrative Agent
or any Lender to undertake any action (or refrain from taking any action) with respect to or under any Loan Document, any Lender (other
than any Lender that is a Regulated Bank) that, as a result of its interest in any total return swap, total rate of return swap, credit
default swap or other derivative contract (other than any such total return swap, total rate of return swap, credit default swap or other
derivative contract entered into pursuant to bona fide market making activities), has a net short position with respect to the Loans and/or
Commitments (each, a “Net Short Lender”) shall, unless the Borrower otherwise elects (in its sole discretion), have
no right to vote any of its Loans and Commitments and shall be deemed to have voted its interest as a Lender without discretion in the
same proportion as the allocation of voting with respect to such matter by Lenders who are not Net Short Lenders;

 

(ii)            for
purposes of determining whether a Lender has a “net short position” on any date of determination: (i) derivative contracts
with respect to the Loans and Commitments and such contracts that are the functional equivalent thereof shall be counted at the notional
amount thereof in Dollars, (ii) notional amounts in other currencies shall be converted to the Dollar equivalent thereof by such
Lender in a commercially reasonable manner consistent with generally accepted financial practices and based on the prevailing conversion
rate (determined on a mid-market basis) on the date of determination, (iii) derivative contracts in respect of an index that includes
the Borrower and/or any other Loan Party or any instrument issued or guaranteed by the Borrower and/or any other Loan Party shall not
be deemed to create a short position with respect to the Loans and/or Commitments, so long as (x) such index is not created, designed,
administered or requested by such Lender and (y) the Borrower and/or any other Loan Party and any instrument issued or guaranteed
by the Borrower and/or any other Loan Party, collectively, represent less than 5% of the components of such index, (iv) derivative
transactions that are documented using either the 2014 ISDA Credit Derivatives Definitions or the 2003 ISDA Credit Derivatives Definitions
(collectively, the “ISDA CDS Definitions”) shall be deemed to create a short position with respect to the Loans and/or
Commitments if such Lender is a protection buyer or the equivalent thereof for such derivative transaction and (1) the Loans or the
Commitments are a “Reference Obligation” under the terms of such derivative transaction (whether specified by name in the
related documentation, included as a “Standard Reference Obligation” on the most recent list published by Markit, if “Standard
Reference Obligation” is specified as applicable in the relevant documentation or in any other manner), (2) the Loans or the
Commitments would be a “Deliverable Obligation” under the terms of such derivative transaction or (3) the Borrower and/or
any other Loan Party is designated as a “Reference Entity” under the terms of such derivative transactions, and (v) credit
derivative transactions or other derivative transactions not documented using the ISDA CDS Definitions shall be deemed to create a short
position with respect to the Loans and/or Commitments if such transactions are functionally equivalent to a transaction that offers the
Lender protection in respect of the Loans or the Commitments, or as to the credit quality of the Borrower and/or any other Loan Party
other than, in each case, as part of an index so long as (x) such index is not created, designed, administered or requested by such
Lender and (y) the Borrower and/or any other Loan Party and any instrument issued or guaranteed by the Borrower and/or any other
Loan Party, collectively, represent less than 5% of the components of such index; and

 

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(iii)           in
connection with any such determination, each Lender shall promptly notify the Administrative Agent in writing that it is a Net Short Lender,
or shall otherwise be deemed to have represented and warranted to the Borrower and the Administrative Agent that it is not a Net Short
Lender (it being understood and agreed that the Borrower and the Administrative Agent shall be entitled to rely on each such representation
and deemed representation).

 

Section 9.03.          Expenses;
Indemnity.

 

(a)            Subject
to Section 9.05(f), the Borrower shall pay (i) all reasonable and documented out-of-pocket expenses incurred by the Administrative
Agent and its Affiliates (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 firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel
in any relevant material jurisdiction to all such Persons, taken as a whole) in connection with the preparation, execution, delivery and
administration of the Loan Documents and any related documentation, including in connection with any amendment, modification or waiver
of any provision of any Loan Document (whether or not the transactions contemplated thereby are consummated, but only to the extent the
preparation of any such amendment, modification or waiver was requested by the Borrower and except as otherwise provided in a separate
writing between the Borrower and/or the Administrative Agent) and (ii) without duplication of the obligation set forth in Section 9.03(b),
all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent or the Lenders or any of their respective Affiliates
(but limited (x) in the case of legal fees and expenses, to the actual reasonable and documented out-of-pocket fees, disbursements
and other charges of one firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in any relevant
material jurisdiction to all such Persons, taken as a whole, and (y) in the case of other third party advisors, to the actual reasonable
and documented out-of-pocket fees, disbursements and other charges of only third party advisors the engagement of whom has been approved
by the Borrower (such approval not to be unreasonably withheld, delayed or conditioned) in writing) in connection with the enforcement,
collection or protection of their respective rights in connection with the Loan Documents, including their respective rights under this
Section, or in connection with the Loans made and/or Letters of Credit issued hereunder. Except to the extent required to be paid on the
Closing Date, all amounts due under this paragraph (a) shall be payable by the Borrower within 30 days of receipt by the Borrower
of an invoice setting forth such expenses in reasonable detail, together with backup documentation supporting the relevant reimbursement
request.

 

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(b)           The
Borrower shall indemnify the Administrative Agent and each Lender, and each Related Party of any of the foregoing Persons (each such Person
being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages
and liabilities (but limited, in the case of legal fees and expenses constituting any such losses, claims, damages and/or liabilities),
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 material jurisdiction to all Indemnitees, taken as a whole and
solely in the case of an actual or perceived conflict of interest, (x) one additional counsel to all affected Indemnitees, taken
as a whole, and (y) one additional local counsel to all affected Indemnitees, taken as a whole), incurred by or asserted against
any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of the Loan Documents or any agreement
or instrument contemplated thereby, the performance by the parties hereto of their respective obligations thereunder or the consummation
of the Transactions or any other transactions contemplated hereby or thereby and/or the enforcement of the Loan Documents, (ii) the
use of the proceeds of the Loans, (iii) any actual or alleged Release or presence of Hazardous Materials on, at, under or from any
property currently or formerly owned, leased or operated by the Borrower, any of its Restricted Subsidiaries or any other Loan Party or
any Environmental Liability related to the Borrower, any of its Restricted Subsidiaries or any other Loan Party and/or (iv) any actual
or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any
other theory and regardless of whether any Indemnitee is a party thereto (and regardless of whether such matter is initiated by a third
party or by the Borrower, any other Loan Party or any of their respective Affiliates); provided that such indemnity shall not,
as to any Indemnitee, be available to the extent that any such loss, claim, damage, or liability (i) is determined by a final and
non-appealable judgment of a court of competent jurisdiction (or documented in any settlement agreement referred to below) to have resulted
from the gross negligence, bad faith or willful misconduct of such Indemnitee or, to the extent such judgment finds (or any such settlement
agreement acknowledges) that any such loss, claim, damage, or liability has resulted from such Person’s material breach of the Loan
Documents or (ii) arises out of any claim, litigation, investigation or proceeding brought by such Indemnitee against another Indemnitee
(other than any claim, litigation, investigation or proceeding that is brought by or against the Administrative Agent acting in its capacity
as the Administrative Agent) that does not involve any act or omission of Holdings, the Borrower or any of its subsidiaries. Each Indemnitee
shall be obligated to refund or return any and all amounts paid by the Borrower pursuant to this Section 9.03(b) to such
Indemnitee for any fees, expenses, or damages to the extent such Indemnitee is not entitled to payment thereof in accordance with the
terms hereof. Any amount due under this Section 9.03(b) shall be payable by the Borrower within 30 days (x) after
receipt by the Borrower of a written demand therefor, in the case of any indemnification obligations and (y) in the case of reimbursement
of costs and expenses, after receipt by the Borrower of an invoice setting forth such costs and expenses in reasonable detail, together
with reasonable backup documentation supporting the relevant reimbursement request. This Section 9.03(b) shall not apply
to Taxes other than any Taxes that represent losses, claims, damages or liabilities in respect of a non-Tax claim.

 

(c)            The
Borrower shall not be liable for any settlement of any proceeding effected without the written consent of the Borrower (which consent
shall not be unreasonably withheld, delayed or conditioned) or any other losses, claims, damages, liabilities and/or expenses incurred
in connection therewith, but if any proceeding is settled with the written consent of the Borrower, or if there is a final judgment against
any Indemnitee in any such proceeding, the Borrower agrees to indemnify and hold harmless each Indemnitee to the extent and in the manner
set forth above. The Borrower shall not, without the prior written consent of the affected Indemnitee (which consent shall not be unreasonably
withheld, conditioned or delayed), effect any settlement of any pending or threatened proceeding in respect of which indemnity could have
been sought hereunder by such Indemnitee unless (i) such settlement includes an unconditional release of such Indemnitee from all
liability or claims that are the subject matter of such proceeding and (ii) such settlement does not include any statement as to
any admission of fault or culpability.

 

Section 9.04.          Waiver
of Claim. To the extent permitted by applicable Requirements of Law, no party to this Agreement nor any Secured Party shall assert,
and each hereby waives on behalf of itself and its Related Parties, any claim against any other party hereto, any Loan Party and/or any
Related Party of any thereof, 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 or any agreement or instrument contemplated hereby,
the Transactions or any Loan or the use of the proceeds thereof, except, in the case of any claim by any Indemnitee against the Borrower,
to the extent such damages would otherwise be subject to indemnification pursuant to, and in accordance with, the terms of Section 9.03.

 

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Section 9.05.         Successors
and Assigns.

 

(a)           The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
permitted assigns; provided, that (i) except as permitted under Section 6.07, the Borrower may not assign or otherwise
transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or
transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights
or obligations hereunder except in accordance with the terms of this Section (any attempted assignment or transfer not complying
with the terms of this Section shall be null and void and, if applicable, subject to Section 9.05(f)). Nothing in this
Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors
and permitted assigns, to the extent provided in Section 9.05(e)), Participants and, to the extent expressly contemplated
hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or
by reason of this Agreement.

 

(b)           (i) Subject
to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more Eligible Assignees all or a portion
of its rights and obligations under this Agreement (including all or a portion of any Loan or Additional Commitment added pursuant to
Sections 2.22, 2.23 or 9.02(c) at the time owing to it) with the prior written consent of:

 

(A)           the
Borrower (such consent not to be unreasonably withheld, conditioned or delayed); provided, that (x) the Borrower shall be
deemed to have consented to any assignment of Loans (other than any assignment to any Disqualified Institution or any natural Person)
unless it has objected thereto by written notice to the Administrative Agent within 10 Business Days after receipt by the Borrower of
a written notice for consent thereto and (y) the consent of the Borrower shall not be required for any assignment (1) of Loans
or Commitments to any Lender or any Affiliate of any Lender or an Approved Fund or (2) at any time when an Event of Default under
Section 7.01(a) or Sections 7.01(f) or (g) (with respect to the Borrower) exists; it being understood
and agreed that the Borrower may withhold its consent (in its sole discretion) to any assignment to any Person that is (I) known
by it to be an Affiliate of a Disqualified Institution and/or an Affiliate of a Competitor (other than a Competitor Debt Fund Affiliate,
unless the Borrower has other reasonable grounds on which to withhold its consent), regardless of whether any such Person constitutes
a Disqualified Institution and/or (II) known by it to be a “loan to own” investor and/or an investor primarily in distressed
credits or opportunistic or special situations or any affiliate of any such investor;

 

(B)            the
Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed); provided, that no consent of the Administrative
Agent shall be required for any assignment to another Lender, any Affiliate of a Lender or any Approved Fund; and

 

(C)            [reserved].

 

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

 

(A)           except
in the case of any assignment to another Lender, any Affiliate of any Lender or any Approved Fund or any assignment of the entire remaining
amount of the relevant assigning Lender’s Loans or Commitments of any Class, the principal amount of Loans or Commitments of the
assigning Lender subject to the relevant assignment (determined as of the date on which the Assignment Agreement with respect to such
assignment is delivered to the Administrative Agent and determined on an aggregate basis in the event of concurrent assignments to Related
Funds or by Related Funds) shall not be less than  $1,000,000 in the case of Loans and Commitments unless the Borrower and the Administrative
Agent otherwise consent;

 

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(B)            any
partial assignment shall be made as an assignment of a proportionate part of all the relevant assigning Lender’s rights and obligations
under this Agreement;

 

(C)            the
parties to each assignment shall execute and deliver to the Administrative Agent an Assignment Agreement via an electronic settlement
system acceptable to the Administrative Agent (or, if previously agreed with the Administrative Agent, manually), and shall pay to the
Administrative Agent a processing and recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion of the Administrative
Agent); and

 

(D)            the
relevant Eligible Assignee, if it is not a Lender, shall deliver on or prior to the effective date of such assignment, to the Administrative
Agent (1) an Administrative Questionnaire and (2) any know your customer information, including the IRS form required under
Section 2.17.

 

(iii)          Subject
to the acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section, from and after the effective date specified
in any Assignment Agreement, the Eligible Assignee thereunder shall be a party hereto and, to the extent of the interest assigned pursuant
to such Assignment Agreement, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall,
to the extent of the interest assigned by such Assignment Agreement, be released from its obligations under this Agreement (and, in the
case of an Assignment Agreement covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender
shall cease to be a party hereto but shall continue to be (A) entitled to the benefits of Sections 2.15, 2.16, 2.17
and 9.03 with respect to facts and circumstances occurring on or prior to the effective date of such assignment and (B) subject
to its obligations thereunder and under Section 9.13). If any assignment by any Lender holding any Promissory Note is made
after the issuance of such Promissory Note, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter
as practicable, surrender such Promissory Note to the Administrative Agent for cancellation, and, following such cancellation, if requested
by either the assignee or the assigning Lender, the Borrower shall issue and deliver a new Promissory Note to such assignee and/or to
such assigning Lender, with appropriate insertions, to reflect the new commitments and/or outstanding Loans of the assignee and/or the
assigning Lender.

 

(iv)          The
Administrative Agent, acting for this purpose as a non-fiduciary agent of the Borrower, shall maintain at one of its offices in the US
a copy of each Assignment Agreement delivered to it and a register for the recordation of the names and addresses of the Lenders and their
respective successors and assigns, and the commitment of, and principal amount of and interest on the Loans owing to each Lender pursuant
to the terms hereof from time to time (the “Register”). Failure to make any such recordation, or any error in such
recordation, shall not affect the Borrower’s obligations in respect of such Loans. The entries in the Register shall be conclusive,
absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.
The Register shall be available for inspection by the Borrower and each Lender (but only as to its own holdings), at any reasonable time
and from time to time upon reasonable prior notice.

 

(v)           Upon
its receipt of a duly completed Assignment Agreement executed by an assigning Lender and an Eligible Assignee, the Eligible Assignee’s
completed Administrative Questionnaire and any tax certification required by Section 9.05(b)(ii)(D)(2) (unless the assignee
is already a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section, if applicable,
and any written consent to the relevant assignment required by paragraph (b) of this Section, the Administrative Agent shall
promptly accept such Assignment Agreement and record the information contained therein in the Register. No assignment shall be effective
for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph.

 

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(vi)          By
executing and delivering an Assignment Agreement, the assigning Lender and the Eligible Assignee thereunder shall be deemed to confirm
and agree with each other and the other parties hereto as follows: (A) the assigning Lender warrants that it is the legal and beneficial
owner of the interest being assigned thereby free and clear of any adverse claim and that the amount of its commitments, and the outstanding
balances of its Loans, in each case without giving effect to any assignment thereof which has not become effective, are as set forth in
such Assignment Agreement, (B) except as set forth in clause (A) above, the assigning Lender makes no representation
or warranty and assumes no responsibility with respect to any statement, warranty or representation made in or in connection with this
Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, any other Loan Document
or any other instrument or document furnished pursuant hereto, or the financial condition of the Borrower or any Restricted Subsidiary
or the performance or observance by the Borrower or any Restricted Subsidiary of any of its obligations under this Agreement, any other
Loan Document or any other instrument or document furnished pursuant hereto; (C) the assignee represents and warrants that it is
(1) an Eligible Assignee and (2) not a Disqualified Institution or an Affiliate of any Disqualified Institution, legally authorized
to enter into such Assignment Agreement; (D) the assignee confirms that it has received a copy of this Agreement and each applicable
Intercreditor Agreement, together with copies of the financial statements referred to in Section 4.01(c) or the most
recent financial statements delivered pursuant to Section 5.01 and such other documents and information as it has deemed appropriate
to make its own credit analysis and decision to enter into such Assignment Agreement; (E) the assignee will independently and without
reliance upon the Administrative Agent, the assigning Lender or any other Lender and based on such documents and information as it deems
appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (F) the assignee
appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under this Agreement
as are delegated to the Administrative Agent, by the terms hereof, together with such powers as are reasonably incidental thereto; and
(G) the assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Agreement
are required to be performed by it as a Lender.

 

(c)            (i) Any
Lender may, without the consent of the Borrower (solely in the case of any participation in any Lender’s rights and obligations
with respect to any Loan), the Administrative Agent or any other Lender, sell participations to any bank or other entity (other than to
any Disqualified Institution, any natural Person or, other than with respect to any participation to any Debt Fund Affiliate (any such
participations to a Debt Fund Affiliate being subject to the limitation set forth in the first proviso of the final paragraph set forth
in Section 9.05(g), as if the limitation applied to such participations), the Borrower or any of its Affiliates) (a “Participant”)
in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its commitments
and the Loans owing to it); 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
Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with
such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which any Lender sells such a
participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification
or waiver of any provision of this Agreement; provided, that such agreement or instrument may provide that such Lender will not,
without the consent of the relevant Participant, agree to any amendment, modification or waiver described in (x) clause (A) of
the first proviso to Section 9.02(b) that directly and adversely affects the Loans or commitments in which such Participant
has an interest and (y) clauses (B)(1), (2) or (3) of the first proviso to Section 9.02(b);
it being understood and agreed that no Lender may enter into any agreement or other arrangement with any Participant that provides such
Participant with the right to agree to or approve (or direct such Lender to agree, approve, consent or not to agree, approve or consent)
any other amendment, modification or waiver in respect of any Loan Document, and any such agreement or arrangement shall be deemed to
be null and void and of no force or effect. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each Participant
shall be entitled to the benefits of Sections 2.15, 2.16 and 2.17 (subject to the limitations and requirements of
such Sections and Section 2.19) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant
to paragraph (b) of this Section and it being understood that the documentation required under Section 2.17(f) shall
be delivered to the participating Lender, and if additional amounts are required to be paid pursuant to Section 2.17(a) or
Section 2.17(c), to the Borrower and the Administrative Agent). To the extent permitted by applicable Requirements of Law,
each Participant also shall be entitled to the benefits of Section 9.09 as though it were a Lender; provided that such
Participant shall be subject to Section 2.18(c) as though it were a Lender.

 

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(ii)           No
Participant shall be entitled to receive any greater payment under Section 2.15, 2.16 or 2.17 than the participating
Lender would have been entitled to receive with respect to the participation sold to such Participant unless the participation is made
with the prior written consent of the Borrower (in its sole discretion), expressly acknowledging that such Participant’s entitlement
to benefits under Sections 2.15, 2.16, and 2.17 is not limited to what the participating Lender would have been entitled
to receive absent the grant to such Participant.

 

Each Lender that sells a participation
or makes a grant to an SPC (as defined in Section 9.05(e)) 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 each SPC and their respective successors
and registered assigns, and the principal and interest amounts of each Participant’s and each SPC’s interest in the Loans
or other obligations under the Loan Documents (a “Participant/SPC Register”); provided that no Lender shall have any
obligation to disclose all or any portion of any Participant/SPC Register (including the identity of any Participant or SPC or any information
relating to any Participant’s or SPC’s interest in any Commitment, Loan or any other obligation under any Loan Document) to
any Person except to the extent that such disclosure is necessary to establish that such Commitment, Loan or other obligation is in registered
form under Section 5f.103-1(c) or Proposed Section 1.163-5(b) of the Treasury Regulations (or any amended or successor
version). The entries in the Participant/SPC Register shall be conclusive absent manifest error, and each Lender shall treat each Person
whose name is recorded in the Participant/SPC Register as the owner of such participation for all purposes of this Agreement notwithstanding
any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have
no responsibility for maintaining a Participant/SPC Register.

 

(d)           (i) Any
Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (other than to any
Disqualified Institution or any natural person) to secure obligations of such Lender, including without limitation any pledge or assignment
to secure obligations to any Federal Reserve Bank or other central bank having jurisdiction over such Lender, and this Section 9.05
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 any Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as
a party hereto.

 

(ii)           No
Lender may at any time enter into a total return swap, total rate of return swap, credit default swap or other derivative instrument under
which any Secured Obligation is a reference obligation (any such swap or other derivative instrument, an “Obligations Derivative
Instrument”) with any counterparty that is a Disqualified Institution.

 

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(e)           Notwithstanding
anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding
vehicle (an “SPC”), identified as such in writing from time to time by the Granting Lender to the Administrative Agent
and the Borrower, the option to provide to the Borrower all or any part of any Loan that such Granting Lender would otherwise be obligated
to make to the Borrower pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any
SPC to make any Loan and (ii) if an SPC elects not to exercise such option or otherwise fails to provide all or any part of such
Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. The making of any Loan by an SPC hereunder
shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. Each party
hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or
expenses or otherwise increase or change the obligations of the Borrower under this Agreement (including its obligations under Section 2.15,
2.16 or 2.17) and no SPC shall be entitled to any greater amount under Section 2.15, 2.16 or 2.17
or any other provision of this Agreement or any other Loan Document that the Granting Lender would have been entitled to receive, unless
the grant to such SPC is made with the prior written consent of the Borrower (in its sole discretion), expressly acknowledging that such
SPC’s entitlement to benefits under Sections 2.15, 2.16 and 2.17 is not limited to what the Granting Lender
would have been entitled to receive absent the grant to the SPC, (ii) no SPC shall be liable for any indemnity or similar payment
obligation under this Agreement (all liability for which shall remain with the Granting Lender) and (iii) the Granting Lender shall
for all purposes including approval of any amendment, waiver or other modification of any provision of the Loan Documents, remain the
Lender of record hereunder. In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination
of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper
or other senior indebtedness of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the Requirements of Law of the US or any State thereof;
provided that (i) such SPC’s Granting Lender is in compliance in all material respects with its obligations to the Borrower
hereunder and (ii) each Lender designating any SPC hereby agrees to indemnify, save and hold harmless each other party hereto for
any loss, cost, damage or expense arising out of its inability to institute such a proceeding against such SPC during such period of forbearance.
In addition, notwithstanding anything to the contrary contained in this Section 9.05, any SPC may (i) with notice to,
but without the prior written consent of, the Borrower or the Administrative Agent and without paying any processing fee therefor, assign
all or a portion of its interests in any Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information
relating to its Loans to any rating agency, commercial paper dealer or provider of any surety, guaranty or credit or liquidity enhancement
to such SPC.

 

(f)            (i) Any
assignment, participation, entry into an Obligations Derivative Instrument or pledge by a Lender (A) to or with any Disqualified
Institution or (B) in the case of any assignment and/or participation, without the Borrower’s consent to the extent the Borrower’s
consent is required under this Section 9.05 (and, if applicable, not deemed to have been given pursuant to Section 9.05(b)(i)(A)),
in each case, to any Person shall be null and void, and Holdings and the Borrower shall each be entitled to seek specific performance
to unwind any such assignment, participation, Obligations Derivative Instrument or pledge and/or specifically enforce this Section 9.05(f) in
addition to injunctive relief (without posting a bond or presenting evidence of irreparable harm) or any other remedy available to the
Borrower at law or in equity; it being understood and agreed that the Borrower, Holdings and its subsidiaries will suffer irreparable
harm if any Lender breaches any obligation under this Section 9.05 as it relates to any assignment or participation to a Disqualified
Person, any entry into any Obligations Derivative Instrument with any Disqualified Person, the pledge or assignment of any security interest
in any Loan or Commitment to a Disqualified Person and/or any assignment or participation of, or pledge or assignment of a security interest
in, any Loan or Commitment to any Person to whom the Borrower’s consent is required but not obtained. Nothing in this Section 9.05(f) shall
be deemed to prejudice any right or remedy that Holdings or the Borrower may otherwise have at law or equity. The Administrative Agent
may make the list of Disqualified Institutions available on a confidential basis in accordance with Section 9.13 to any Lender
who specifically requests a copy thereof, and such Lender may provide such list of Disqualified Institutions to any potential assignee
or participant or counterparty to any Obligations Derivative Instrument who agrees to keep such list confidential in accordance with Section 9.13
solely for the purpose of permitting such Person to verify whether such Person (or any Affiliate thereof) constitutes a Disqualified Institution.

 

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(ii)           If
any assignment or participation under this Section 9.05 is made to any Disqualified Institution and/or any Affiliate of any
Disqualified Institution (other than any Competitor Debt Fund Affiliate) and/or any other Person to whom the Borrower’s consent
is required but not obtained, in each case, without the Borrower’s prior written consent (any such person, a “Disqualified
Person”), then the Borrower may, at its sole expense and effort, upon notice to the applicable Disqualified Person and the Administrative
Agent, (A) terminate any Commitment of such Disqualified Person and repay all obligations of the Borrower owing to such Disqualified
Person, (B) in the case of any outstanding Loan, held by such Disqualified Person, purchase such Loan by paying the lesser of (x) par
and (y) the amount that such Disqualified Person paid to acquire such Loan, plus accrued interest thereon, accrued fees and
all other amounts payable to it hereunder and/or (C) require such Disqualified Person to assign, without recourse (in accordance
with and subject to the restrictions contained in this Section 9.05), all of its interests, rights and obligations under this
Agreement to one or more Eligible Assignees; provided that (I) in the case of clause (B), the applicable Disqualified
Person has received payment of an amount equal to the lesser of (1) par and (2) the amount that such Disqualified Person paid
for the applicable Loans and participations in Letters of Credit, plus accrued interest thereon, accrued fees and all other amounts
payable to it hereunder, from the Borrower, (II) in the case of clauses (A) and (B), the Borrower shall not be
liable to the relevant Disqualified Person under Section 2.16 if any LIBO Rate Loan owing to such Disqualified Person is repaid
or purchased other than on the last day of the Interest Period relating thereto, (III) in the case of clause (C), the relevant
assignment shall otherwise comply with this Section 9.05 (except that (x) no registration and processing fee required
under this Section 9.05 shall be required with any assignment pursuant to this paragraph and (y) any Loan acquired by
any Affiliated Lender pursuant to this paragraph will not be included in calculating compliance with the Affiliated Lender Cap for a period
of 90 days following such transfer; provided that, to the extent the aggregate principal amount of Loans held by Affiliated Lenders
exceeds the Affiliated Lender Cap on the 91st day following such transfer, then such excess amount shall either be (x) contributed
to the Borrower or any of its subsidiaries and retired and cancelled immediately upon such contribution or (y) automatically cancelled))
and (IV) in no event shall such Disqualified Person be entitled to receive amounts set forth in Section 2.13(d). Further,
any Disqualified Person identified by the Borrower to the Administrative Agent (A) shall not be permitted to (x) receive information
or reporting provided by any Loan Party, the Administrative Agent or any Lender and/or (y) attend and/or participate in conference
calls or meetings attended solely by the Lenders and the Administrative Agent, (B) (x) shall not for purposes of determining
whether the Required Lenders or the majority of Lenders under any Class have (i) consented (or not consented) to any amendment,
modification, waiver, consent or other action with respect to any of the terms of any Loan Document or any departure by any Loan Party
therefrom, (ii) otherwise acted on any matter related to any Loan Document, or (iii) directed or required the Administrative
Agent or any Lender to undertake any action (or refrain from taking any action) with respect to or under any Loan Document, have a right
to consent (or not consent), otherwise act or direct or require the Administrative Agent or any Lender to take (or refrain from taking)
any such action; it being understood that all Loans held by any Disqualified Person shall be deemed to be not outstanding for all purposes
of calculating whether the Required Lenders, majority Lenders under any Class, all Lenders or all affected Lenders, as the case may be,
have taken any action, and (y) shall be deemed to vote in the same proportion as Lenders that are not Disqualified Persons (1) in
any proceeding under any Debtor Relief Law commenced by or against the Borrower or any other Loan Party and/or (2) for purposes of
any matter requiring the consent of each Lender or each affected Lender and (C) shall not be entitled to receive the benefits of
Section 9.03. For the sake of clarity, the provisions in this Section 9.05(f) shall not apply to any Person
that is an assignee of any Disqualified Person, if such assignee is not a Disqualified Person.

 

(iii)          Notwithstanding
anything to the contrary herein, each of Holdings, the Borrower and each Lender acknowledges and agrees that the Administrative Agent
shall not have any liability for any assignment or participation made to any Disqualified Institution or Affiliated Lender (regardless
of whether the consent of the Administrative Agent is required thereto), and none of the Borrower, any Lender or any of their respective
Affiliates will bring any claim to that effect.

 

(g)           Notwithstanding
anything to the contrary contained herein, any Lender may, at any time, assign all or a portion of its rights and obligations under this
Agreement in respect of its Loans to any Affiliated Lender on a non-pro rata basis (A) through Dutch Auctions open to all Lenders
holding the relevant Loans on a pro rata basis or (B) through open market purchases (including, for the avoidance of doubt, any negotiated
transaction), in each case with respect to clauses (A) and (B), without the consent of the Administrative Agent; provided
that:

 

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(i)            any
Loan acquired by Holdings, the Borrower or any of its Restricted Subsidiaries shall, to the extent permitted by applicable Requirements
of Law, be retired and cancelled immediately upon the acquisition thereof; provided, that upon any such retirement and cancellation,
the aggregate outstanding principal amount of the Loans shall be deemed reduced by the full par value of the aggregate principal amount
of the Loans so retired and cancelled;

 

(ii)           any
Loan acquired by any Non-Debt Fund Affiliate (other than Holdings, the Borrower or any of its Restricted Subsidiaries) may (but shall
not be required to) be contributed to the Borrower or any of its subsidiaries (it being understood that any such Loans shall, to the extent
permitted by applicable Requirements of Law, be retired and cancelled promptly upon such contribution); provided, that upon any
such cancellation, the aggregate outstanding principal amount of the Loans shall be deemed reduced, as of the date of such contribution,
by the full par value of the aggregate principal amount of the Loans so contributed and cancelled;

 

(iii)          the
relevant Affiliated Lender and assigning or purchasing, as applicable, Lender shall have executed an Affiliated Lender Assignment and
Assumption;

 

(iv)          subject
to Section 9.05(f)(ii), after giving effect to the relevant assignment and to all other assignments to all Affiliated Lenders,
the aggregate principal amount of all Loans then held by all Affiliated Lenders shall not exceed 25% of the aggregate principal amount
of the Loans then outstanding (after giving effect to any substantially simultaneous cancellation thereof) (the “Affiliated Lender
Cap”); provided, that each party hereto acknowledges and agrees that the Administrative Agent shall not be liable for
any losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses and disbursements of any kind or nature whatsoever
incurred or suffered by any Person in connection with any compliance or non-compliance with this clause (g)(iv) or any purported
assignment exceeding the Affiliated Lender Cap (it being understood and agreed that the Affiliated Lender Cap is intended to apply to
any Loan made available to Affiliated Lenders by means other than formal assignment (e.g., as a result of an acquisition of another
Lender (other than any Debt Fund Affiliate) by any Affiliated Lender or the provision of Additional Loans by any Affiliated Lender); provided,
further, that to the extent that any assignment to any Affiliated Lender would result in the aggregate principal amount of Loans
held by Affiliated Lenders exceeding the Affiliated Lender Cap (after giving effect to any substantially simultaneous cancellations thereof),
the assignment of the relevant excess amount shall be null and void (except to the extent such excess amount is subsequently assigned
to a Person that is not an Affiliated Lender);

 

(v)           in
connection with any assignment effected pursuant to a Dutch Auction and/or open market purchase conducted by Holdings, the Borrower or
any of its Restricted Subsidiaries, no Event of Default exists at the time of the launch of the relevant Dutch Auction or the confirmation
of such open market purchase, as applicable; and

 

(vi)          by
its acquisition of Loans, each relevant Affiliated Lender shall be deemed to have acknowledged and agreed that:

 

(A)           subject
to clause (iv) above, the Loans held by such Affiliated Lender shall be disregarded in both the numerator and denominator
in the calculation of any Required Lender or other Lender vote; provided that (x) such Affiliated Lender shall have the right
to vote (and the Loans held by such Affiliated Lender shall not be so disregarded) with respect to any amendment, modification, waiver,
consent or other action that requires the vote of all Lenders or all Lenders directly and adversely affected thereby, as the case may
be, and (y) no amendment, modification, waiver, consent or other action shall (1) disproportionately affect such Affiliated
Lender in its capacity as a Lender as compared to other Lenders of the same Class that are not Affiliated Lenders or (2) deprive
any Affiliated Lender of its share of any payment in which the Lenders are entitled to share on a pro rata basis hereunder, in each case
without the consent of such Affiliated Lender; and

 

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(B)            such
Affiliated Lender, solely in its capacity as an Affiliated Lender, will not be entitled to (i) attend (including by telephone) or
participate in any meeting or discussion (or portion thereof) among the Administrative Agent or any Lender or among Lenders to which the
Loan Parties or their representatives are not invited or (ii) receive any information or material prepared by the Administrative
Agent or any Lender or any communication by or among the Administrative Agent and one or more Lenders, except to the extent such information
or materials have been made available by the Administrative Agent or any Lender to any Loan Party or its representatives (and in any case,
other than the right to receive notices of Borrowings, prepayments and other administrative notices in respect of its Loans required to
be delivered to Lenders pursuant to Article 2);

 

(vii)         no
Affiliated Lender shall be required to represent or warrant that it is not in possession of material non-public information with respect
to Holdings and/or any subsidiary thereof and/or their respective securities in connection with any assignment permitted by this Section 9.05(g);
and

 

(viii)        in
any proceeding under any Debtor Relief Law, (A) the interest of any Affiliated Lender in any Loan will be deemed to be voted in the
same proportion as the vote of Lenders that are not Affiliated Lenders on the relevant matter; provided that each Affiliated Lender
will be entitled to vote its interest in any Loan to the extent that any plan of reorganization or other arrangement with respect to which
the relevant vote is sought proposes to treat the interest of such Affiliated Lender (in its capacity as a Lender) in such Loan in a manner
that is less favorable to such Affiliated Lender than the proposed treatment of Loans held by other Lenders and (B) all Affiliated
Lenders shall be treated as a single lender for purposes of any “numerosity” or similar requirement applicable therein.

 

Notwithstanding anything to the contrary contained
herein, any Lender may, at any time, assign all or a portion of its rights and obligations under this Agreement in respect of its Loans
and/or Commitments to any Debt Fund Affiliate, and any Debt Fund Affiliate may, from time to time, purchase Loans and/or Commitments (x) on
a pro rata basis through Dutch auctions open to all applicable Lenders in accordance with customary procedures or (y) on a non-pro
rata basis through open market purchases (including, for the avoidance of doubt, negotiated transactions) without the consent of the Administrative
Agent, in each case, notwithstanding the requirements set forth in subclauses (i) through (viii) of this clause
(g); provided that the Loans and Commitments held by all Debt Fund Affiliates shall not account for more than 49.9% of the
amounts included in determining whether the Required Lenders have (A) consented to any amendment, modification, waiver, consent or
other action with respect to any of the terms of any Loan Document or any departure by any Loan Party therefrom, (B) otherwise acted
on any matter related to any Loan Document or (C) directed or required the Administrative Agent or any Lender to undertake any action
(or refrain from taking any action) with respect to or under any Loan Document; it being understood and agreed that the portion of the
Loan and/or Commitments that accounts for more than 49.9% of the relevant Required Lender action shall be deemed to be voted pro rata
along with other Lenders that are not Debt Fund Affiliates. Any Loan acquired by any Debt Fund Affiliate may (but shall not be required
to) be contributed to Holdings or any of its subsidiaries for purposes of cancelling such Indebtedness (it being understood that any Loan
so contributed shall, to the extent permitted by applicable Requirements of Law, be retired and cancelled immediately upon thereof); provided
that upon any such cancellation, the aggregate outstanding principal amount of the relevant Class of Loans shall be deemed reduced,
as of the date of such contribution, by the full par value of the aggregate principal amount of the Loans so contributed and cancelled.

 

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Section 9.06.         Survival.
All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents and in the certificates or other
instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied
upon by the other parties hereto and shall survive the execution and delivery of the Loan Documents and the making of any Loan regardless
of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent may have had notice
or knowledge of any Default or Event of Default or incorrect representation or warranty at the time any credit is extended hereunder,
and shall continue in full force and effect until the Termination Date. The provisions of Sections 2.15, 2.16, 2.17,
9.03 and 9.13 and Article 8 shall survive and remain in full force and effect regardless of the consummation
of the transactions contemplated hereby, the repayment of the Loans, the occurrence of the Termination Date or the termination of this
Agreement or any provision hereof but in each case, subject to the limitations set forth in this Agreement.

 

Section 9.07.         Counterparts;
Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts),
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the
other Loan Documents, each Intercreditor Agreement and the Fee Letters constitute the entire agreement among the parties relating to the
subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter
hereof. This Agreement shall become effective when it has been executed by Holdings, the Borrower and the Administrative Agent and when
the Administrative Agent has received counterparts hereof which, when taken together, bear the signatures of each of the other parties
hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted
assigns. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or by email as a “.pdf”
or “.tif” attachment shall be effective as delivery of a manually executed counterpart of this Agreement. It is understood
and agreed that, subject to any Requirement of Law, the words “execution”, “signed”, “signature”,
 “delivery” and words of like import in or relating to any Loan Document shall be deemed to include any Electronic Signature,
delivery or the keeping of any record in electronic form, each of which shall have the same legal effect, validity or enforceability as
a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system 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 similar state laws based on the Uniform Electronic Transactions Act.

 

Section 9.08.         Severability.
To the extent permitted by applicable Requirements of Law, any provision of any Loan Document held to be invalid, illegal or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without
affecting the validity, legality and enforceability of the remaining provisions thereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

 

Section 9.09.         Right
of Setoff. At any time when an Event of Default exists, the Administrative Agent and, upon the written consent of the Administrative
Agent and each Lender is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable Requirements
of 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 (in any currency) at any time owing by the Administrative Agent or such Lender, respectively, to or for the credit or the
account of any Loan Party against any of and all the Secured Obligations held by the Administrative Agent or such Lender, irrespective
of whether or not the Administrative Agent or such Lender shall have made any demand under the Loan Documents and although such obligations
may be contingent or unmatured or are owed to a branch or office of such Lender different than the branch or office holding such deposit
or obligation on such Indebtedness. The Administrative Agent shall promptly notify the Borrower and any applicable Lender shall promptly
notify the Borrower and the Administrative Agent of such set-off or application, as applicable; provided that any failure to give
or any delay in giving such notice shall not affect the validity of any such set-off or application under this Section. The rights of
each Lender and the Administrative Agent under this Section are in addition to other rights and remedies (including other rights
of setoff) which such Lender or the Administrative Agent may have.

 

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Section 9.10.          Governing
Law; Jurisdiction; Consent to Service of Process.

 

(a)            THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN ANY OTHER LOAN DOCUMENT) AND ANY CLAIM, CONTROVERSY OR DISPUTE
ARISING UNDER OR RELATED TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN ANY OTHER LOAN DOCUMENT),
WHETHER IN TORT, CONTRACT (AT LAW OR IN EQUITY) OR OTHERWISE, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK.

 

(b)            EACH
PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF ANY US FEDERAL
OR NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK (OR ANY APPELLATE COURT THEREFROM) OVER ANY
SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR
PROCEEDING SHALL (EXCEPT AS PERMITTED BELOW) BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED BY APPLICABLE
REQUIREMENTS OF LAW, FEDERAL COURT. EACH PARTY HERETO AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY REGISTERED MAIL
ADDRESSED TO SUCH PERSON SHALL BE EFFECTIVE SERVICE OF PROCESS AGAINST SUCH PERSON FOR ANY SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH
COURT. EACH PARTY HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING MAY BE ENFORCED IN OTHER JURISDICTIONS BY
SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY APPLICABLE REQUIREMENTS OF LAW. EACH PARTY HERETO AGREES THAT THE ADMINISTRATIVE
AGENT RETAINS THE RIGHT TO BRING PROCEEDINGS AGAINST ANY LOAN PARTY IN THE COURTS OF ANY OTHER JURISDICTION SOLELY IN CONNECTION WITH
THE EXERCISE OF ITS RIGHTS UNDER ANY COLLATERAL DOCUMENT.

 

(c)            EACH
PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION
WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH PARTY HERETO HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE REQUIREMENTS OF LAW, ANY CLAIM OR DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE
OF SUCH ACTION, SUIT OR PROCEEDING IN ANY SUCH COURT.

 

(d)            To
the extent permitted by APPLICABLE REQUIREMENTS OF law, each party hereto hereby irrevocably waives personal service of any and all process
upon it and agrees that all such service of process may be made by registered mail (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL) directed
to it at its address for notices as provided for in Section 9.01. each Party hereto hereby waives any objection to such service
of process and further irrevocably waives and agrees not to plead or claim in any action or proceeding commenced hereunder or under any
loan document that service of process was invalid and ineffective. Nothing in this Agreement or any other Loan Document will affect the
right of any party to this Agreement to serve process in any other manner permitted by APPLICABLE REQUIREMENTS OF law.

 

Section 9.11.          Waiver
of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE REQUIREMENTS OF LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY) DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY OR THEREBY. EACH PARTY HERETO (a) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HERETO HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (b) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION.

 

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Section 9.12.          Headings.
Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this
Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.

 

Section 9.13.          Confidentiality.
Each of the Administrative Agent and each Lender agrees (and each Lender agrees to cause its SPC, if any) to maintain the confidentiality
of the Confidential Information (as defined below), except that Confidential Information may be disclosed:

 

(a)            to
its and its Affiliates’ members, partners, directors (or equivalent managers), officers, managers, employees, agents, independent
auditors, or other experts and advisors, including accountants, legal counsel and other advisors (collectively, the “Representatives”)
on a “need to know” basis solely in connection with the transactions contemplated hereby and who are informed of the confidential
nature of the Confidential Information and are or have been advised of their obligation to keep the Confidential Information of this type
confidential; provided that such Person shall be responsible for its Affiliates’ and their Representatives’ compliance with
this paragraph; provided, further, that unless the Borrower otherwise consents, no such disclosure shall be made by the Administrative
Agent, any Lender or any Affiliate or Representative thereof to any Affiliate or Representative of the Administrative Agent or any Lender
that is a Disqualified Institution,

 

(b)            to
the extent compelled by legal process in, or reasonably necessary to, the defense of such legal, judicial or administrative proceeding,
in any legal, judicial or administrative proceeding or otherwise as required by applicable Requirements of Law (in which case such Person
shall, except with respect to any audit or examination conducted by bank accountants or any governmental, regulatory or self-regulatory
authority exercising examination or regulatory authority, (i) to the extent practicable and permitted by applicable Requirements
of Law, inform the Borrower promptly in advance thereof and (ii) use commercially reasonable efforts to ensure that any such information
so disclosed is accorded confidential treatment),

 

(c)            upon
the demand or request of any regulatory or governmental authority (including any self-regulatory body) purporting to have jurisdiction
over such Person or its Affiliates or as otherwise required by applicable Requirements of Law (in which case (except in the case of any
Lender’s obligation to report the existence of its investment in the Term Facility (but not other Confidential Information) in periodic
filings with the SEC in accordance with applicable Requirements of Law) such Person shall, except with respect to any audit or examination
conducted by bank accountants or any Governmental Authority or regulatory or self-regulatory authority exercising examination or regulatory
authority, to the extent permitted by applicable Requirements of Law, (i) to the extent practicable and permitted by applicable Requirements
of Law, inform the Borrower promptly in advance thereof and (ii) use commercially reasonable efforts to ensure that any information
so disclosed is accorded confidential treatment),

 

(d)            to
the extent provided by or on behalf of the Borrower to the Administrative Agent for distribution to the Lenders, by the Administrative
Agent to any Lender party to this Agreement, as applicable,

 

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(e)            subject
to an acknowledgment and agreement by the relevant recipient that the Confidential Information is being disseminated on a confidential
basis (on substantially the terms set forth in this paragraph or as otherwise reasonably acceptable to the Borrower and the Administrative
Agent) in accordance with market standards for dissemination of the relevant type of information, which shall in any event require “click
through” or other affirmative action on the part of the recipient to access the Confidential Information and acknowledge its confidentiality
obligations in respect thereof, to (i) any Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or prospective
Participant in, any of its rights or obligations under this Agreement, including any SPC (in each case other than a Disqualified Institution
and/or any Person to whom the Borrower has, at the time of disclosure, affirmatively declined to consent to any assignment or participation),
(ii) any pledgee referred to in Section 9.05, (iii) any actual or prospective, direct or indirect contractual counterparty
(or its advisors) to any Derivative Transaction (including any credit default swap) or similar derivative product to which any Loan Party
is a party,

 

(f)            subject
to the Borrower’s prior approval of the information to be disclosed, to the CUSIP Service Bureau or any similar agency on a confidential
basis in connection with the issuance and monitoring of CUSIP numbers with respect to the facilities or

 

(g)            (i) the
existence of this Agreement (but not the terms hereof) and the existence of the Term Facility (but not the terms thereof) and (ii) certain
other limited generic information regarding the Term Facility (but not any other Confidential Information), may be disclosed to market
data collectors and other similar service providers to the lending industry and, in the case of the Administrative Agent, to service providers
to the Administrative Agent in connection with the administration of the Term Facility,

 

(h)            to
the extent the Confidential Information becomes publicly available other than as a result of a breach of this Section by such Person,
its Affiliates or their respective Representatives, and

 

(i)             with
the prior written consent of the Borrower.

 

For purposes of this Section, “Confidential
Information” means all information relating to Holdings, the Borrower and/or any of its subsidiaries and their respective businesses
or the Transactions (including any information obtained by the Administrative Agent or any Lender, or any of their respective Affiliates
or Representatives, based on a review of any books and records relating to Holdings, the Borrower and/or any of its subsidiaries and their
respective Affiliates from time to time, including prior to the date hereof) other than any such information that is publicly available
to the Administrative Agent or Lender on a non-confidential basis prior to disclosure by Holdings or any of its subsidiaries. For the
avoidance of doubt, in no event shall any disclosure of any Confidential Information be made to any Person that is a Disqualified Institution
at the time of disclosure.

 

Section 9.14.          No
Fiduciary Duty. Each of the Administrative Agent, each Lender and their respective Affiliates (collectively, solely for purposes of
this paragraph, the “Credit Parties”), may have economic interests that conflict with those of the Loan Parties, their
stockholders and/or their respective affiliates. Each Loan Party agrees that nothing in the Loan Documents or otherwise will be deemed
to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Credit Party, on the one hand,
and such Loan Party, its respective stockholders or its respective affiliates, on the other. Each Loan Party acknowledges and agrees that:
(i) the transactions contemplated by the Loan Documents (including the exercise of rights and remedies hereunder and thereunder)
are arm’s-length commercial transactions between the Credit Parties, on the one hand, and the Loan Parties, on the other, and (ii) in
connection therewith and with the process leading thereto, (x) no Credit Party, in its capacity as such, has assumed an advisory
or fiduciary responsibility in favor of any Loan Party, its respective stockholders or its respective affiliates with respect to the transactions
contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether
any Credit Party has advised, is currently advising or will advise any Loan Party, its respective stockholders or its respective Affiliates
on other matters) or any other obligation to any Loan Party except the obligations expressly set forth in the Loan Documents and (y) each
Credit Party, in its capacity as such, is acting solely as principal and not as the agent or fiduciary of such Loan Party, its respective
management, stockholders, creditors or any other Person. Each Loan Party acknowledges and agrees that such Loan Party has consulted its
own legal, tax and financial advisors to the extent it deemed appropriate and that it is responsible for making its own independent judgment
with respect to such transactions and the process leading thereto.

 

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Section 9.15.          Several
Obligations. The respective obligations of the Lenders hereunder are several and not joint and the failure of any Lender to make any
Loan or perform any of its obligations hereunder shall not relieve any other Lender from any of its obligations hereunder.

 

Section 9.16.          USA
PATRIOT Act. Each Lender that is subject to the requirements of the USA PATRIOT Act and the requirements of the Beneficial Ownership
Regulation hereby notifies the Loan Parties that pursuant to the requirements of the USA PATRIOT Act and the Beneficial Ownership Regulation,
it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address
of such Loan Party and other information that will allow such Lender to identify such Loan Party in accordance with the USA PATRIOT Act
and the Borrower in accordance with the Beneficial Ownership Regulation.

 

Section 9.17.          Disclosure
of Agent Conflicts. Each Loan Party and each Lender hereby acknowledge and agree that the Administrative Agent and/or its Affiliates
from time to time may hold investments in, make other loans to or have other relationships with any of the Loan Parties and their respective
Affiliates.

 

Section 9.18.          Appointment
for Perfection. Each Lender hereby appoints each other Lender as its agent for the purpose of perfecting Liens for the benefit of
the Administrative Agent and the Lenders, in assets which, in accordance with Article 9 of the UCC or any other applicable Requirement
of Law can be perfected only by possession. If any Lender (other than the Administrative Agent) obtains possession of any Collateral,
such Lender shall notify the Administrative Agent thereof and, promptly upon the Administrative Agent’s request therefor shall deliver
such Collateral to the Administrative Agent or otherwise deal with such Collateral in accordance with the Administrative Agent’s
instructions.

 

Section 9.19.          Interest
Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together
with all fees, charges and other amounts which are treated as interest on such Loan under applicable Requirements of Law (collectively
the “Charged Amounts”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted
for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable Requirements of Law, the rate
of interest payable in respect of such Loan hereunder, together with all Charged Amounts payable in respect thereof, shall be limited
to the Maximum Rate and, to the extent lawful, the interest and Charged Amounts that would have been payable in respect of such Loan but
were not payable as a result of the operation of this Section shall be cumulated and the interest and Charged Amounts payable to
such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount,
together with interest thereon at the Federal Funds Effective Rate to the date of repayment, have been received by such Lender.

 

Section 9.20.          Intercreditor
Agreements. REFERENCE IS MADE TO EACH INTERCREDITOR AGREEMENT. EACH LENDER HEREUNDER AGREES THAT IT WILL BE BOUND BY AND WILL TAKE
NO ACTION CONTRARY TO THE PROVISIONS OF EACH INTERCREDITOR AGREEMENT AND AUTHORIZES AND INSTRUCTS THE ADMINISTRATIVE AGENT TO ENTER INTO
EACH APPLICABLE INTERCREDITOR AGREEMENT AS “SECOND LIEN AGENT” (OR EQUIVALENT) AND ON BEHALF OF SUCH LENDER. THE PROVISIONS
OF THIS SECTION 9.20 ARE NOT INTENDED TO SUMMARIZE ALL RELEVANT PROVISIONS OF ANY INTERCREDITOR AGREEMENT. REFERENCE MUST
BE MADE TO EACH INTERCREDITOR AGREEMENT ITSELF TO UNDERSTAND ALL TERMS AND CONDITIONS THEREOF. EACH LENDER IS RESPONSIBLE FOR MAKING ITS
OWN ANALYSIS AND REVIEW OF EACH INTERCREDITOR AGREEMENT AND THE TERMS AND PROVISIONS THEREOF, AND NEITHER THE ADMINISTRATIVE AGENT NOR
ANY OF ITS AFFILIATES MAKES ANY REPRESENTATION TO ANY LENDER AS TO THE SUFFICIENCY OR ADVISABILITY OF THE PROVISIONS CONTAINED IN ANY
INTERCREDITOR AGREEMENT. THE FOREGOING PROVISIONS ARE INTENDED AS AN INDUCEMENT TO THE LENDERS UNDER THE FIRST LIEN CREDIT AGREEMENT AND/OR
THE LENDERS OR HOLDERS OF ANY OTHER INDEBTEDNESS SUBJECT TO ANY APPLICABLE INTERCREDITOR AGREEMENT TO EXTEND CREDIT THEREUNDER AND SUCH
LENDERS AND/OR HOLDERS ARE INTENDED THIRD PARTY BENEFICIARIES OF SUCH PROVISIONS AND THE PROVISIONS OF EACH APPLICABLE INTERCREDITOR AGREEMENT.

 

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Section 9.21.          Conflicts.
Notwithstanding anything to the contrary contained herein or in any other Loan Document, in the event of any conflict or inconsistency
between this Agreement and any other Loan Document, the terms of this Agreement shall govern and control; provided that in the
case of any conflict or inconsistency between any Intercreditor Agreement and any Loan Document, the terms of such Intercreditor Agreement
shall govern and control.

 

Section 9.22.          Release
of Guarantors. Notwithstanding anything in Section 9.02(b) to the contrary, (a) any Subsidiary Guarantor shall
automatically be released from its obligations hereunder (and its Loan Guaranty and any Lien granted by such Subsidiary Guarantor pursuant
to any Collateral Document) shall be automatically released) (i) upon the consummation of any transaction or series of related transactions
not prohibited hereunder if as a result thereof such Subsidiary Guarantor ceases to be a Restricted Subsidiary (or is or becomes an Excluded
Subsidiary as a result of a single transaction or series of related transactions not prohibited hereunder), (ii) upon the occurrence
of the Termination Date and/or (iii) with respect to any Discretionary Guarantor, at the election of the Borrower at any time as
a result of a single transaction or series of related transactions not prohibited hereunder so long as (x) the Borrower shall have
delivered written notice of such election to the Administrative Agent and (y) after giving pro forma effect to such release and the
consummation of the relevant transaction (if applicable), (1) the Borrower is deemed to have made a new Investment in such Person
in an amount equal to the aggregate outstanding amount of all Investments made in such Person while such Person was a Discretionary Guarantor
and (2) no Event of Default shall exist (including after giving effect to clause (1)) and (b) any Subsidiary Guarantor
that meets the definition of an “Excluded Subsidiary” shall be released by the Administrative Agent promptly following the
request therefor by the Borrower, subject, if applicable, to the Specified Guarantor Release Provision. In connection with any such release,
the Administrative Agent shall promptly execute and deliver to the relevant Loan Party, at such Loan Party’s expense, all documents
that such Loan Party shall reasonably request to evidence termination or release; provided, that upon the request of the Administrative
Agent, the Borrower shall deliver a certificate of a Responsible Officer certifying that the relevant transaction has been consummated
in compliance with the terms of this Agreement. Any execution and delivery of any document pursuant to the preceding sentence of this
Section 9.22 shall be without recourse to or warranty by the Administrative Agent (other than as to the Administrative Agent’s
authority to execute and deliver such documents).

 

Section 9.23.          Acknowledgement
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 of the parties hereto, each such party acknowledges that any liability of any Affected 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 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 Loan Document;
or

 

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(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.

 

Section 9.24.          Certain
ERISA Matters. 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, that at least one of
the following is and will be true:

 

(a)            such
Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit
Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters
of Credit, the Commitments or this Agreement,

 

(b)            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,

 

(c)            (i) such
Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE
84-14), (ii) 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, (iii) 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 (iv) 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

 

(d)            such
other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and
such Lender.

 

In addition, unless either (1) sub-clause
(i) in the immediately preceding paragraph is true with respect to a Lender or (2) a Lender has provided another representation,
warranty and covenant in accordance with sub-clause (iv) in the immediately preceding paragraph, 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 not,
for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that the Administrative Agent is not a fiduciary
with respect to the assets of such Lender involved in such Lender’s entrance into, participation in, administration of and performance
of the Loans, the Letters of Credit, the Commitments and this Agreement (including in connection with the reservation or exercise of any
rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto). To the extent
the Administrative Agent (or any sub-agent thereof) or any Related Party of any of the foregoing is not reimbursed and indemnified by
the Borrower, the Lenders severally agree to reimburse and indemnify the Administrative Agent (or any such sub-agent), such Related Party,
as the case may be, in proportion to their respective “pro rata shares” (determined as set forth below) for and against any
and all liabilities, obligations, losses, damages, penalties, claims, actions, judgments, costs, expenses or disbursements of whatsoever
kind or nature which may be imposed on, asserted against or incurred by the Administrative Agent (or such sub-agent) or such Related Party
in performing its duties hereunder or under any other Loan Document or in any way relating to or arising out of this Agreement or any
other Loan Document; provided, that no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties,
claims, actions, judgments, suits, costs, expenses or disbursements resulting from the Administrative Agent’s or such Related Party’s,
as applicable, gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a final and non-appealable
decision). For purposes of this paragraph, a Lender’s “pro rata share” shall be determined based upon its share of the
sum of, without duplication unused Commitments and outstanding Loans, in each case, at the time (or most recently outstanding and in effect).

 

    175

     

    

 

Section 9.25.          [Reserved].

 

Section 9.26.          Acknowledgement
Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Derivative
Transactions 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 “US Special Resolution Regimes”) in respect of such
Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC
may in fact be stated to be governed by the laws of the State of New York and/or of the US or any other state of the US):

 

(a)            In
the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding
under a US 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 US 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 US or a state of the US. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to
a proceeding under a US Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported
QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than
such Default Rights could be exercised under the US Special Resolution Regime if the Supported QFC and the Loan Documents were governed
by the laws of the US or a state of the US. 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.

 

(b)            As
used in this Section 9.26, the following terms have the following meanings:

 

“BHC ACT Affiliate”
means an “affiliate” (as defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)).

 

“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).

 

    176

     

    

 

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

 

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

 

[Signature Pages Follow]

 

    177

     

    

 

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

 

	 	SOVOS BRANDS INTERMEDIATE, INC.,
as the Borrower
	 	 
	 	 
	 	By:	/s/
Chris Hall
	 	 	Name: 	Chris Hall
	 	 	Title: 	Treasurer and
Chief Financial Officer
	 	 
	 	 
	 	SOVOS BRANDS HOLDINGS, INC., as Holdings
	 	 
	 	 
	 	By:	/s/ Chris Hall
	 	 	Name: 	Chris Hall
	 	 	Title: 	Treasurer and
Chief Financial Officer

 

[Signature Page to Second Lien Credit Agreement]

 

    

     

    

 

	 	OWL ROCK CAPITAL CORPORATION, as
Administrative Agent and as an Initial Lender
	 	 
	 	 
	 	By:	/s/ Jeff Walwyn
	 	 	Name: 	Jeff Walwyn
	 	 	Title: 	Authorized
Signatory

 

[Signature Page to Second Lien Credit Agreement]

 

    

     

    

 

	 	OR LENDING LLC, as an Initial Lender
	 	 
	 	 
	 	By:	/s/ Jeff Walwyn
	 	 	Name: 	Jeff Walwyn
	 	 	Title: 	Authorized
Signatory

 

	 	OR LENDING II LLC, as an Initial
Lender
	 	 
	 	 
	 	By:	/s/ Jeff Walwyn
	 	 	Name: 	Jeff Walwyn
	 	 	Title: 	Authorized
Signatory

 

	 	OR LENDING III LLC, as an Initial
Lender
	 	 
	 	 
	 	By:	/s/ Jeff Walwyn
	 	 	Name: 	Jeff Walwyn
	 	 	Title: 	Authorized
Signatory

 

[Signature Page to Second Lien Credit Agreement]

 

    

     

    

 

	 	TCG BDC, INC., as Initial
Lender
	 	 
	 	 
	 	By:	/s/ Miles Toben
	 	 	Name: 	Miles Toben
	 	 	Title: 	Managing Director
	 	 
	 	 
	 	CARLYLE DIRECT LENDING CLO 2015-1R
LLC, as Initial Lender
	 	 
	 	 
	 	By:	/s/ Miles Toben
	 	 	Name: 	Miles Toben
	 	 	Title: 	Managing Director

 

	 	TCG BDC II SPV LLC, as Initial
Lender
	 	 
	 	 
	 	By:	/s/ Miles Toben
	 	 	Name: 	Miles Toben
	 	 	Title: 	Managing Director

 

	 	OCPC CREDIT FACILITY SPV LLC, as
Initial Lender
	 	 
	 	 
	 	By:	/s/
Brian Marcus
	 	 	Name: 	Brian Marcus
	 	 	Title: 	Managing Director

 

	 	CARLYLE SKYLINE CREDIT FUND L.P.,
as Initial Lender
	 	 
	 	 
	 	By:	/s/
Peter Gaunt
	 	 	Name: 	Peter Gaunt
	 	 	Title: 	Principal

 

[Signature Page to
Second Lien Credit Agreement]

 

    

     

    

 

	 	FORTRESS CREDIT CORP., as Initial
Lender
	 	 
	 	 
	 	By:	/s/ Avraham Dreyfuss
	 	 	Name: 	Avraham Dreyfuss
	 	 	Title: 	Chief Financial Officer

 

[Signature Page to Second Lien Credit Agreement]Exhibit 10.3

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT
AGREEMENT (the “Agreement”), dated as of January 14, 2017, among Grand Prix Intermediate, Inc.,
a Delaware corporation (the “Company”) and Todd R. Lachman (the “Executive”).

 

WITNESSETH

 

WHEREAS,
the Company, Bottom Line Food Processors, Inc., a Delaware corporation, and certain other parties have entered into a Purchase Agreement
dated on or about the date of this Agreement (the “Purchase Agreement”);

 

WHEREAS,
contingent upon and following the consummation of the transactions contemplated by the Purchase Agreement (the “Closing”),
the Company desires to employ the Executive as the Chief Executive Officer of the Company, and the Executive desires to accept such employment,
in each case on the terms and conditions set forth herein; and

 

NOW
THEREFORE, in consideration of the foregoing, of the mutual promises contained herein and of other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.              POSITION;
PRINCIPAL LOCATION.

 

(a)              During
the Employment Term (as defined in Section 2 below), the Executive shall serve as Chief Executive Officer of the Company. In this
capacity, the Executive shall have such duties, authorities and responsibilities as are commensurate with the duties, authorities and
responsibilities of persons in similar capacities in similarly sized companies, and such other duties, authorities and responsibilities
as the Board of Directors of the Company (the “Board”) shall designate that are not inconsistent with the Executive’s
position as Chief Executive Officer. The Executive shall report directly to the Board. In addition, the Executive shall also serve as
an officer or director of any subsidiary of the Company, as requested by the Board, without additional compensation. The Executive shall
be based at the Company’s principal place of business in Berkeley, California.

 

(b)              During
the Employment Term, the Executive shall devote all of the Executive’s business time, energy and skill and the Executive’s
reasonable best efforts to the performance of the Executive’s duties with the Company; provided that the foregoing shall not prevent
the Executive from (i) serving as a senior advisor of Advent International Corporation, (ii) serving on the board of directors
of non-profit organizations and, with the prior written approval of the Board, the board of directors of other companies, (iii) participating
in charitable, civic, educational, professional, community or industry affairs and (iv) managing the Executive’s and the Executive’s
family’s passive personal investments so long as such activities in the aggregate do not interfere or conflict with the Executive’s
duties hereunder or create a business conflict.

 

2.              EMPLOYMENT
TERM. The Executive’s term of employment under this Agreement shall be for an initial
term commencing on the Closing Date (as defined in the Purchase Agreement) (the “Effective Date”) and ending on the
fourth anniversary of the

 

     

     

    

 

Effective Date (the “Initial
Term”). Commencing on the fourth anniversary of the Effective Date and on each anniversary thereafter, the term of employment
shall be automatically extended for a one-year term (each, a “Renewal Term” and, together with the Initial Term, the
 “Employment Term”) unless either the Company or the Executive shall give the other party not less than 90 days’
prior written notice of its intention not to extend this Agreement prior to the end of the Initial Term or Renewal Term then in effect.

 

3.              BASE
SALARY. During the Employment Term, the Company agrees to pay the Executive a base salary at
an annual rate of five hundred thousand dollars ($500,000), payable in accordance with the regular payroll practices of the Company.
The Executive’s Base Salary shall be subject to annual review by the Board (or a committee thereof) and shall be subject to increase
from time to time, but not decrease without the Executive’s express written consent. The base salary as determined herein from
time to time shall constitute “Base Salary” for purposes of this Agreement.

 

4.              BONUS
AND EQUITY.

 

(a)              ANNUAL
BONUS. With respect to each full or partial fiscal year that ends during the Employment Term, the Executive shall be eligible to receive
an annual bonus (the “Bonus”) based upon annual performance targets specified each year by the Board or committee thereof
in good faith after consultation with the Executive and communicated to the Executive by no later than 90 days following the commencement
of the fiscal year to which such performance targets apply or, if later and solely with respect to the partial fiscal year that commences
on the Effective Date, by 30 days following the Effective Date. The target annual Bonus shall be equal to 100% of the Executive’s
Base Salary (the “Target Bonus”). The Bonus, if any, shall be paid to Executive in the fiscal year following the fiscal
year in respect of which such Bonus was earned, within 30 days following the determination of the achievement of the annual performance
targets, but in no event later than the last calendar day of the fourth calendar month of such fiscal year.

 

(b)              TRANSACTION
FEE. The Executive shall receive a transaction fee of one million three hundred thousand dollars ($1,300,000) (the “Transaction
Fee”), less applicable withholding taxes, which shall be earned on the Effective Date and be paid to the Executive in a cash
lump-sum on the first regularly scheduled payroll date of the Company following the Effective Date. The Executive acknowledges that the
Transaction Fee satisfies any obligation for a transaction or similar fee under this Agreement or any other agreement with Advent International
Corporation or its affiliates in connection with the transactions contemplated by the Purchase Agreement.

 

(c)              EQUITY.
The Company shall cause to be implemented an equity incentive grant program on the principal terms described in Exhibit B
and an equity co- investment program on the principal terms described in Exhibit C, in each case, as promptly as practicable
following the Effective Date.

 

    2 

     

    

 

5.              BENEFITS.

 

(a)             BENEFIT
PLANS. The Executive (and the Executive’s spouse and the Executive’s eligible dependents, as applicable) shall be entitled
to participate in any employee benefit plan that the Company or its subsidiaries has adopted or may adopt, maintain or contribute to for
the benefit of its senior executives at a level commensurate with the Executive’s position, subject to satisfying the applicable
eligibility requirements. The Company shall reimburse the Executive for the cost of obtaining health insurance coverage in the individual
marketplace for the Executive, the Executive’s spouse, and the Executive’s eligible dependents until the date on which the
Executive is eligible to enroll in health insurance coverage under the Company’s health insurance plans.

 

(b)             VACATIONS.
The Executive shall be entitled to 25 annual paid vacation days per calendar year (as prorated for partial years) in accordance with the
Company’s policy on accrual and use applicable to senior executives, which vacation may be taken at such times as the Executive
elects with due regard to the needs of the Company.

 

(c)             BUSINESS
AND ENTERTAINMENT EXPENSES. Upon presentation of appropriate documentation, the Executive shall be reimbursed in accordance with the
Company’s expense reimbursement policy for all reasonable business and entertainment expenses incurred in connection with the performance
of the Executive’s duties hereunder.

 

(d)             INDEMNIFICATION;
D&O INSURANCE. Both during and after the Employment Term, regardless of the reason for termination, the Company hereby agrees
to indemnify the Executive and hold the Executive harmless to the maximum extent permitted by the Company’s organizational documents
against and in respect of any and all actions, suits, proceedings, investigations, claims, demands, judgments, costs, expenses (including
reasonable attorney’s fees), losses, and damages resulting from the Executive’s good faith performance of the Executive’s
duties and obligations with the Company and its affiliates hereunder. The Company shall cover the Executive under directors’ and
officers’ liability insurance both during and, while potential liability exists, after the term of this Agreement in the same amount
and to the same extent as the Company covers its other active officers and directors. The foregoing obligations shall survive the termination
of the Executive’s employment with the Company.

 

6.              TERMINATION.
The Executive’s employment and the Employment Term shall terminate on the first of the following to occur:

 

(a)             DISABILITY.
Upon 30 days’ prior written notice by the Company to the Executive of termination due to Disability. For purposes of this Agreement,
 “Disability” shall be defined as the inability of the Executive to have performed the Executive’s material duties
hereunder due to a physical or mental injury, infirmity or incapacity for 180 days (including weekends and holidays) in any 365-day period
or 90 consecutive days in any 180-day period, as determined by a qualified physician mutually acceptable to the Executive and the Company.
If the Executive and the Company cannot agree on a qualified physician, each party shall select a physician and the two physicians shall
select a third physician who shall be the approved qualified physician for this purpose. Notwithstanding the foregoing, the Company shall
not terminate the Executive by reason of Disability prior to the date on which the Executive is

 

    3 

     

    

 

eligible for long-term disability benefits
under a long-term disability plan or policy maintained by the Company, but if the Executive experiences a Disability prior to such date,
the Company may remove the Executive as Chief Executive Officer and such action shall not constitute Good Reason, provided that the Executive
remains employed and continues to receive the Base Salary and all employee benefits provided to the Executive pursuant to Section 5
hereof to which the Executive was entitled prior to his Disability until the Executive is eligible for such long-term disability benefits.

 

(b)             DEATH.
Automatically on the date of death of the Executive.

 

(c)             CAUSE.
The Company may terminate the Executive’s employment hereunder for Cause immediately upon written notice by the Company to the Executive
of a termination for Cause. “Cause” shall mean the Executive’s (i) willful failure or willful refusal to
substantially perform his employment duties to the Company and its affiliates; (ii) willful misconduct or gross negligence in the
performance of the Executive’s duties to the Company and its affiliates; (iii) willful failure to act in good faith in accordance
with specific, reasonable and lawful instructions from the Board (other than by reason of a Disability); (iv) indictment for, conviction
of, or pleading nolo contendere to, a felony, or a crime of moral turpitude that has a material effect on the Company; (v) intentional
theft from, intentional fraud on or intentional embezzlement from the Company or its affiliates or (vi) material breach of this Agreement;
provided, that with respect to items (i), (iii) and (vi), any such action will constitute “Cause” only if (1) the
Board notifies the Executive in writing of any action of Executive that purportedly constitutes Cause, which notice specifies in detail
the alleged facts and specific action which the Board deems are a basis for a termination for Cause and (2) the Executive fails to
remedy such action within 30 days following the receipt of such written notice.

 

(d)             WITHOUT
CAUSE. Upon 30 days’ prior written notice by the Company to the Executive of an involuntary termination without Cause, other
than for death or Disability; provided, that during such 30-day period, the Company (i) may require the Executive to continue to
perform all or any portion of the Executive’s duties, as requested by the Board, which are not inconsistent with the Executive’s
duties as described in this Agreement, (ii) shall be under no obligation to assign to the Executive any duties and may remove the
Executive as Chief Executive Officer and such action shall not constitute Good Reason, (iii) may exclude the Executive from the Company’s
premises and (iv) may require the Executive not to contact or have any communication with any customer, prospective customer, employee,
director or independent contractor of the Company in relation to the business of the Company. For the avoidance of doubt, notwithstanding
any action taken by the Company pursuant to items (i) through (iv) of the immediately preceding sentence, the Executive shall
remain employed by the Company through such 30-day period and shall continue to receive the Base Salary and all employee benefits provided
to the Executive pursuant to Section 5 hereof through such 30-day period.

 

(e)             GOOD
REASON. Upon written notice by the Executive to the Company of a termination for Good Reason; provided, that an event will constitute
 “Good Reason” only if (i) the Executive notifies the Company in reasonable detail within 60 days following the Executive’s
initial knowledge of an event that would constitute Good Reason, (ii) the Company fails to remedy such event within 30 days following
the receipt of such notice and (iii) the

 

    4 

     

    

 

executive terminates employment within 30 days following the end of such 30-day remedy period.
 “Good Reason” shall mean the occurrence of any of the following events without the express written consent of the Executive:
(i) a reduction in Executive’s title or a material reduction by the Company in the degree of responsibility and authority of
the Executive, which shall be deemed to occur if the Executive becomes the chief executive officer of a division or subsidiary of an operating
company in lieu of being chief executive officer of the Company’s ultimate parent operating company, including following a change
in control or other corporate transaction; (ii) a reduction in the Executive’s Base Salary or Target Bonus; (iii) a change
in the Executive’s reporting obligations that result in Executive no longer reporting directly to the Board; (iv) the Executive’s
place of employment or the principal executive offices of the Company become located outside the San Francisco Bay Area (defined as the
following nine counties: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano and Sonoma) ; or (v) a
material breach of this Agreement by the Company.

 

(f)              WITHOUT
GOOD REASON. Upon 60 days’ prior written notice by the Executive to the Company of the Executive’s voluntary termination
of employment without Good Reason (which the Company may, in its sole discretion, make effective earlier than any notice date).

 

7.              CONSEQUENCES
OF TERMINATION.

 

(a)              DISABILITY.
Upon termination for Disability pursuant to Section 6(a), the Company shall pay or provide the Executive (i) any unpaid
Base Salary through the date of termination payable in accordance with the regular payroll practices of the Company; (ii) any Bonus
earned in accordance with Section 4(a) that is unpaid with respect to the fiscal year ending on or preceding the date
of termination payable in accordance with Section 4(a); (iii) in accordance with Section 5(c), reimbursement
for any unreimbursed expenses incurred through the date of termination; (iv) any accrued but unused vacation time in accordance with
the Company policy payable within 30 days after termination; (v) all other accrued payments, benefits or fringe benefits to which
the Executive is entitled under the terms of any applicable compensation arrangement or benefit, equity or fringe benefit plan or program
or grant (items (i) through (v) collectively, the “Accrued Benefits”); and (vi) subject to the Executive’s
continued compliance with the obligations in Sections 8 and 9 hereof, a pro rata portion of the Bonus, if any, that the Executive
would have been entitled to receive pursuant to Section 4(a) hereof with respect to the year of termination based upon
the percentage of the fiscal year that shall have elapsed through the date of the Executive’s termination of employment, payable
when such Bonus would have otherwise been payable to the Executive in accordance with Section 4(a) had the Executive’s
employment not terminated (the “Pro-Rata Bonus”).

 

(b)             DEATH.
In the event the Employment Term ends on account of the Executive’s death, the Executive’s estate shall be entitled to any
Accrued Benefits and the Pro- Rata Bonus.

 

(c)             TERMINATION
FOR CAUSE OR WITHOUT GOOD REASON. If the Executive’s employment is terminated (x) by the Company for Cause, (y) by
the Executive without Good Reason or (z) as a result of the Executive’s election not to renew this Agreement in accordance
with Section 2, the Company shall pay to the Executive any Accrued Benefits;

 

    5 

     

    

 

provided that the amounts described in Section 7(a)(ii) shall
not be paid in the event of a termination under (x).

 

(d)             TERMINATION
WITHOUT CAUSE OR FOR GOOD REASON. If the Executive’s employment by the Company is terminated (x) by the Company other than
for Cause or Disability, (y) by the Executive for Good Reason or (z) as a result of the Company’s election not to renew
this Agreement in accordance with Section 2, the Company shall pay or provide the Executive with (i) the Accrued Benefits
and (ii) subject to the Executive’s continued compliance with the obligations in Sections 8 and 9 hereof, (A) the
Pro-Rata Bonus, (B) an amount equal to the sum of two (2) times the Executive’s Base Salary plus one (1) times
the Executive’s Target Bonus, payable in substantially equal installments for 24 months following the termination date; provided,
that the first installment shall be paid on the next payroll date after the 60th day following the termination date and shall include
payment of any amounts that would be due prior thereto, and (C) to the extent that the Executive timely elects continuation coverage
under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), reimbursement for the applicable COBRA
premiums, if any, under the Company’s or its subsidiaries’, as applicable medical, dental and vision plans for Executive and
Executive’s eligible dependents until the earlier of (x) 18 months following the Executive’s termination or (y) until
the Executive obtains new employment that provides substantially similar medical, dental and vision coverage.

 

Payments and benefits provided for in Section 7(d) shall
be in lieu of any termination or severance payments or benefits for which the Executive may be eligible under any of the plans, policies
or programs of the Company or any of its subsidiaries or affiliates.

 

8.              RELEASE;
SET-OFF. Any and all amounts payable and benefits or additional rights provided pursuant to
this Agreement beyond the Accrued Benefits shall only be payable if the Executive delivers to the Company and does not revoke a general
release of all claims in the form attached hereto as Exhibit A, which may be updated to reflect changes in law (the “Release”),
within 60 days following the termination date. The Company’s obligation to make any payment provided for in this Agreement shall
be subject to set-off, counterclaim and recoupment of amounts owed by the Executive as of the date of termination to the Company or its
affiliates, subject to Section 12 of this Agreement. In no event shall the Executive be obligated to seek other employment
or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement,
and such amounts shall not be reduced whether or not the Executive obtains other employment.

 

9.              RESTRICTIVE
COVENANTS.

 

(a)             CONFIDENTIALITY.
The Executive acknowledges that during the Employment Term, the Executive shall have access to and shall be provided with sensitive, confidential,
proprietary, business, technical, data and other trade secret information of the Company that is the property of the Company, and the
Executive agrees that the Company has a protectable interest in such property. The Executive agrees that the Executive shall not, directly
or indirectly, use, make available, sell, disclose or otherwise communicate to any person, other than in the course of the Executive’s
assigned duties and for the benefit of the Company or to Executive’s personal advisors for purposes of enforcing or interpreting
this Agreement, during

 

    6 

     

    

 

the Executive’s employment
with the Company and at all times thereafter, any business and technical information, nonpublic, proprietary or confidential information,
knowledge or data relating to the Company, any of its subsidiaries, affiliated companies or businesses, which shall have been obtained
by the Executive during the Executive’s employment by the Company (or any predecessor). The foregoing shall not apply to information
that (i) was known to the public prior to its disclosure to the Executive; (ii) becomes generally known to the public subsequent
to disclosure to the Executive through no wrongful act of the Executive or any representative of the Executive; or (iii) the Executive
is required to disclose by applicable law, regulation or legal process (provided that, to the extent not prohibited by applicable law,
the Executive provides the Company with prior notice of the contemplated disclosure and cooperates with the Company at its expense in
seeking a protective order or other appropriate protection of such information). Notwithstanding anything in this provision to the contrary,
the Executive shall not, directly or indirectly, use, make available, sell, disclose or otherwise communicate to any person, other than
in the course of the Executive’s assigned duties and for the benefit of the Company, either during the period of the Executive’s
employment or at any time thereafter, any information or data that constitutes a trade secret as defined by the California Uniform Trade
Secrets Act and/or any other applicable law. Nothing in this provision shall be construed to prohibit the Executive from disclosing any
such information to the Company’s affiliated entities provided that the Executive takes reasonable measures to ensure the continued
confidentiality and trade secret status of such information. Notwithstanding anything herein to the contrary, nothing in this Agreement
shall: (i) prohibit the Executive from making reports of possible violations of federal law or regulation to any governmental agency
or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934
or Section 806 of the Sarbanes-Oxley Act of 2002, or of any other whistleblower protection provisions of state or federal law or
regulation or (ii) require notification or prior approval by the Company of any reporting described in clause (i). The Executive
acknowledges that the Executive is hereby notified, in accordance with the Defend Trade Secrets Act of 2016, 18 U.S.C. § 1833(b),
that: (i) an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure
of a trade secret that is made in confidence to a federal, state, or local government official, either directly or indirectly, or to
an attorney, in each case solely for the purpose of reporting or investigating a suspected violation of law; (ii) an individual
shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that
is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; and (iii) an
individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret
to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any
document containing the trade secret under seal and (B) does not disclose the trade secret except pursuant to court order.

 

(b)             NONSOLICITATION.
During the Executive’s employment with the Company and for a period of two years thereafter, the Executive agrees that the Executive
will not, except in the furtherance of the Executive’s duties hereunder, directly or indirectly, individually or on behalf of any
other person, firm, corporation or other entity, solicit, aid or induce any employee of the Company or any of its subsidiaries or affiliates
at the time of such action to leave such employment or to accept employment with or render services to or with any other person, firm,
corporation or other entity unaffiliated with the Company or hire or retain any such employee, or take any action to materially assist
or aid any other person, firm, corporation

 

    7 

     

    

 

or other entity in identifying, hiring or soliciting any such employee. An employee shall
be deemed covered by this sub-section while so employed or retained and for six months thereafter. Notwithstanding the foregoing, the
provisions of this sub-section shall not be violated by general advertising or solicitation not specifically targeted at employees of
the Company or any of its subsidiaries or affiliates; provided, that such general advertising or solicitation does not result in the
hiring of any employee that the Executive otherwise would be prohibited from hiring under this Section 9(b).

 

(c)             INVENTIONS.

 

(i)              The
Executive acknowledges and agrees that all ideas, methods, inventions, discoveries, improvements, work products and developments (“Inventions”),
whether patentable or unpatentable, (x) that relate to the Executive’s work with the Company, made or conceived by the Executive,
solely or jointly with others, during the Employment Term, or (y) suggested by any work that the Executive performs in connection
with the Company, either while performing the Executive’s duties with the Company or on the Executive’s own time, but only
insofar as the Inventions are related to the Executive’s work as an employee or other service provider to the Company, shall belong
exclusively to the Company (or its designee), whether or not patent applications are filed thereon. The Executive will keep full and
complete written records (the “Records”), in the manner prescribed by the Company of all Inventions and will promptly
disclose all Inventions completely and in writing to the Company. The Records shall be the sole and exclusive property of the Company
and the Executive will surrender them upon the termination of the Employment Term, or upon the Company’s request. The Executive
will assign to the Company the Inventions and all patents that may issue thereon in any and all countries, whether during or subsequent
to the Employment Term, together with the right to file, in the Executive’s name or in the name of the Company (or its designee),
applications for patents and equivalent rights (the “Applications”). The Executive will, at any time during and subsequent
to the Employment Term, make such applications, sign such papers, take all rightful oaths, and perform all acts as may be requested from
time to time by the Company with respect to the Inventions. The Executive will also execute assignments to the Company (or its designee),
of the Applications, and give the Company and its attorneys all reasonable assistance (including the giving of testimony) to obtain the
Inventions for its benefit, all without additional compensation to the Executive from the Company but entirely at the Company’s
expense.

 

(ii)             In
addition, the Inventions will be deemed Work for Hire, as such term is defined under the copyright law of the United States, on behalf
of the Company and the Executive agrees that the Company will be the sole owner of the Inventions, and all underlying rights therein,
in all media now known or hereinafter devised, throughout the universe and in perpetuity, without any further obligations to the Executive.
If the Inventions, or any portion thereof, are deemed not to be Work for Hire, the Executive hereby irrevocably conveys, transfers and
assigns to the Company all rights, in all media now known or hereinafter devised, throughout the universe and in perpetuity, in and to
the Inventions, including, without limitation, all of the Executive’s right, title and interest in the copyrights (and all renewals,
revivals and extensions thereof) to the Inventions, including, without limitation, all rights of any kind or any nature now or hereafter
recognized, including, without limitation, the unrestricted right to make modifications, adaptations and revisions to the Inventions,
to exploit and allow others to exploit the Inventions and all rights to sue at law or in equity for any infringement or other unauthorized

 

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use or conduct in derogation of the Inventions, known or unknown, prior to the date hereof, including, without limitation, the right
to receive all proceeds and damages therefrom. In addition, the Executive hereby waives any so-called “moral rights” with
respect to the Inventions. The Executive hereby waives any and all currently existing and future monetary rights in and to the Inventions
and all patents that may issue thereon, including, without limitation, any rights that would otherwise accrue to the Executive’s
benefit by virtue of the Executive being an employee of or other service provider to the Company.

 

(d)             REFORMATION.
If it is determined by a court of competent jurisdiction in any state or other jurisdiction that any restriction in this Section 9
is excessive in duration or scope or is unreasonable or unenforceable under the laws of that state or other jurisdiction, it is the
intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent
permitted by the law of that state.

 

(e)              SURVIVAL
OF PROVISIONS. The obligations contained in Sections 9 through 24 shall survive the termination or expiration of the Executive’s
employment with the Company and shall be fully enforceable thereafter.

 

10.            COOPERATION.
Upon the receipt of reasonable notice from the Company (including outside counsel), the Executive agrees that while employed by the Company
and for a period of three years thereafter, the Executive will respond and provide information with regard to matters in which the Executive
has knowledge as a result of the Executive’s employment with the Company, and will provide reasonable assistance to the Company,
its affiliates and their respective representatives in defense of any claims that may be made against the Company or its affiliates,
and will assist the Company and its affiliates in the prosecution of any claims that may be made by the Company and its affiliates, to
the extent that such claims may relate to the period of the Executive’s employment with the Company (or any predecessor); provided,
that the Company shall reimburse the Executive for any out-of-pocket expenses incurred in providing such assistance, and, if the Executive
is required to provide more than five hours of assistance per week after the Executive’s termination of employment, then the Company
shall pay the Executive for the Executive’s services in excess of such five hours at an hourly rate equal to the Executive’s
Base Salary at the time of the Executive’s termination of employment divided by 2,080; and provided, further, that after the Executive’s
termination of employment with the Company, such assistance shall not unreasonably interfere with Executive’s business or personal
activities. During the Employment Term and for a period of 24 months thereafter, the Executive agrees to promptly inform the Company
if the Executive receives written notice of any lawsuits involving such claims that may be filed or threatened against the Company or
its affiliates. The Executive also agrees to promptly inform the Company (to the extent the Executive is legally permitted to do so)
if the Executive is asked to assist in any investigation of the Company or its affiliates (or their actions), regardless of whether a
lawsuit or other proceeding has then been filed against the Company or its affiliates with respect to such investigation. Nothing in
this provision shall be construed to prohibit the Executive from testifying truthfully in any legal or administrative proceeding or investigation.

 

11.            EQUITABLE
RELIEF AND OTHER REMEDIES.

 

    9 

     

    

 

(a)             The
Executive acknowledges and agrees that the Company’s remedies at law for a breach or threatened breach of any of the provisions
of Section 9 or Section 10 would be inadequate, and, in recognition of this fact, the Executive agrees that, in
the event of such a breach or threatened breach, in addition to any remedies at law, the Company, without posting any bond, shall be entitled
to obtain equitable relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or
any other equitable remedy which may then be available.

 

(b)             In
the event of a violation of Section 9 or Section 10 of this Agreement, any severance being paid to the Executive
pursuant to this Agreement or otherwise shall immediately cease; provided that the Company shall provide the Executive written
notice detailing such breach and Executive shall have failed to cure such breach within 15 days following the receipt of such notice prior
to the cessation of severance payments.

 

12.            COMPLIANCE
WITH SECTION 409A OF THE CODE.

 

(a)             It
is the parties’ intent that, to the greatest extent possible, the payments and benefits provided under the Agreement be exempt from
the definition of “non-qualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code
of 1986, as amended, and the regulations promulgated thereunder (collectively, the “Code”), and the Agreement shall
be interpreted accordingly; provided, however, to the extent that any payment or benefit under the Agreement constitutes “non-qualified
deferred compensation,” then (i) the Agreement is intended to comply with Section 409A of the Code, and the Agreement
shall be interpreted accordingly, and (ii) in no event shall this Agreement be interpreted to cause a reduction or forfeiture of
amounts otherwise due hereunder as a means of avoiding application of, or compliance with, Section 409A of the Code. In this regard,
each payment under the Agreement shall be treated as a separate payment for purposes of Section 409A of the Code and the Executive’s
right to receive installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct
payments. If and to the extent that the Company determines that any payment or benefit (x) constitutes “non-qualified deferred
compensation” subject to Section 409A of the Code, (y) is provided to the Executive at a time that the Executive is a
 “specified employee” (within the meaning of Section 409A of the Code and as determined pursuant to procedures established
by the Company) and (z) must be delayed for six months from the date of termination (or an earlier date) in order to comply with
Section 409A(a)(2)(B)(i) of the Code and not cause the Executive to incur any additional tax under Section 409A of the
Code, then the Company shall delay making any such payment or providing such benefit until the expiration of such six-month period (or,
if earlier, the Executive’s death), but only to the extent required to avoid violation of Section 409A(a)(2)(B)(i), it being
understood expressly that payments of amounts up to the applicable limitation may be made before the expiration of six months from the
date of termination. In no event whatsoever will the Company or any of its respective parents, subsidiaries or affiliates be liable for
any additional tax, interest or penalties that may be imposed on the Executive under Section 409A of the Code or any damages for
failing to comply with Section 409A of the Code.

 

(b)             Any
expense reimbursements provided under the Agreement shall be paid to the Executive as soon as practicable, but in any event no later than
the end of the taxable year following the taxable year in which the Executive incurs such reimbursable expense. With regard

 

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to any provision
herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section 409A of the Code,
(i) the right to reimbursement or in- kind benefits shall not be subject to liquidation or exchange for another benefit, and (ii) the
amount of expenses eligible for reimbursements or in-kind benefits provided during any taxable year shall not affect the expenses eligible
for reimbursement or in-kind benefits to be provided in any other taxable year.

 

(c)             The
Company’s right to set-off and offset pursuant to Section 8 of the Agreement shall not apply to any payments which are
 “non-qualified deferred compensation” for purposes of Section 409A of the Code.

 

(d)             The
terms “termination,” “date of termination” and “termination of employment” shall be construed to mean
the term “Separation from Service” as defined under Section 409A(a)(2)(B)(i) of the Code.

 

13.            CODE
SECTION 280G. If the aggregate amount of all payments and benefits due to the Executive
(or his beneficiaries) under this Agreement or any other agreement, plan, program, policy or arrangement (a “Company Arrangement”)
(or any payments, benefits or entitlements by or on behalf of any person that effectuates a related transaction) (collectively, “Change
in Control Benefits”), would cause the Executive to have “parachute payments” as such term is defined in and under
Section 280G of the Code, and could reasonably be expected to result in the imposition of excise taxes pursuant to Section 4999
of the Code, the Company hereby agrees, if requested by the Executive, to submit such Change in Control Benefits to the Company’s
voting shareholders for approval in accordance with Section 280G of the Code.

 

14.            ASSIGNMENTS.

 

(a)             This
Agreement is personal to each of the parties hereto. Except as provided in Section 14(b) below, no party may assign
or delegate any rights or obligations hereunder without first obtaining the written consent of each other party hereto. Any purported
assignment or delegation by the Executive in violation of the foregoing shall be null and void ab initio and of no force and effect.

 

(b)             The
Company may assign this Agreement to a person or entity that is an affiliate or to any successor to all or substantially all of its business
and/or assets, as applicable, which assumes in writing or by operation of law, the obligations hereunder of the Company. As used in this
Agreement, “Company” shall mean the Company and any successor to its business and/or assets that assumes and agrees to perform
this Agreement by operation of law or otherwise.

 

15.            NOTICE.
For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall
be deemed to have been duly given (i) on the date of delivery if delivered by hand, (ii) on the date of transmission if delivered
by confirmed facsimile, (iii) on the first business day following the date of deposit if delivered by guaranteed overnight delivery
service or (iv) on the fourth business day following the date mailed by United States registered or certified mail, return receipt
requested, postage prepaid, addressed as follows:

 

    11 

     

    

 

If to the Executive:

 

At the address (or to the facsimile number) shown

on the records of the Company

 

with a copy (that shall not constitute notice) to:

 

McDermott Will & Emery LLP

340 Madison Avenue

New York, New York 10173

Attention: Steven Eckhaus

Facsimile: (212) 547-5444

 

If to the Company:

 

Grand
Prix Intermediate, Inc.

c/o Advent International Corporation

75 State Street, 29th Floor

Boston, Massachusetts 02109

Attention:      Jefferson Case

James
Westra

Facsimile: (617) 951-0566

 

with a copy (that shall not constitute notice) to:

 

Weil, Gotshal & Manges, LLP

100 Federal Street, Floor 34

Boston, Massachusetts 02110

Attention: Marilyn French Shaw

Facsimile: (617) 772-8333

 

or to such other address as any party may have
furnished to the others in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt.

 

16.            SECTION HEADINGS;
INCONSISTENCY. The section headings used in this Agreement are included solely for convenience
and shall not affect, or be used in connection with, the interpretation of this Agreement. In the event of any inconsistency between
the terms of this Agreement and any form, award, plan or policy of the Company, the terms of this Agreement shall control.

 

17.            COUNTERPARTS.
This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will
constitute one and the same instrument.

 

18.            ARBITRATION.
Any dispute or controversy arising under or in connection with this Agreement or the Executive’s employment with the Company, other
than injunctive relief under Section 11 hereof, shall be settled exclusively by arbitration, conducted before a single arbitrator
in San Francisco County, California, in accordance with the National Rules for the Resolution of Commercial Disputes of the American
Arbitration Association then in effect. The decision of the arbitrator will be final and binding upon the parties hereto. Judgment may
be

 

    12 

     

    

 

entered on the arbitrator’s award in any court having jurisdiction. Excluding the initial filing fee, which shall be borne by
the claimant, the cost of arbitration shall be borne by the Company unless the arbitrator determines that the Executive brought a frivolous
claim or brought a claim in bad faith. The parties further acknowledge that the arbitral process provided for in this Section 18
is subject to the requirements of Section 19, below.

 

19.            GOVERNING
LAW AND CHOICE OF FORUM. The Company and the Executive agree and acknowledge that all provisions
of this Agreement shall be governed by and construed in accordance with the laws of the State of California exclusively and without reference
to principles of conflicts of laws. The Executive and the Company irrevocably submit to the exclusive jurisdiction of any state or federal
court located in San Francisco County, California, over any employment matter that is not otherwise arbitrated or resolved according
to Section 18.

 

/s/
TRL The Executive’s initials to acknowledge agreement to the Governing Law and Choice of Forum provision in Section 19.

 

20.            LAWYERS
FEES. The Company will pay to McDermott Will & Emery LLP reasonable legal fees and
expenses for the Executive and Larry Bodner, up to a total amount of $80,000 in the aggregate, incurred in connection with the preparation
and negotiation of this Agreement, Mr. Bodner’s employment agreement and the equity arrangements described in Section 4(c) hereof
upon presentation of a detailed itemized legal bill.

 

21.            MISCELLANEOUS.
No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing
and signed by the Executive and such officer or director as may be designated by the Board. No waiver by either party hereto at any time
of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such
other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.
This Agreement together with all exhibits hereto (collectively, the “Agreements”) sets forth the entire agreement of the
parties hereto in respect of the subject matter contained herein and supersede all prior agreements relating to such subject matter.
No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by
either party which are not expressly set forth in the Agreements.

 

22.            REPRESENTATIONS.
The Executive represents and warrants to the Company that the Executive has the legal right
to enter into this Agreement and to perform all of the obligations on the Executive’s part to be performed hereunder in accordance
with its terms and that the Executive is not a party to any agreement or understanding, written or oral, which could prevent the Executive
from entering into this Agreement or performing all of the Executive’s obligations hereunder. The Executive is not subject to any
noncompetition or nonsolicitation covenant with any other company that would be breached as a result of the Executive’s employment
with the Company or the performance of the Executive’s obligations hereunder. Furthermore, the Executive acknowledges that the
Executive’s employment with the Company will not cause the Executive to make use of any confidential information, trade secrets
or proprietary information, in each case of an entity not affiliated with the Company. The Company

  

    13 

     

    

 

represents and warrants to the Executive that the Company has the
legal right to enter into this Agreement and to perform all of the obligations on the Company’s part to be performed hereunder in
accordance with its terms.

 

23.            WITHHOLDING.
The Company may withhold from any and all amounts payable under this Agreement such federal, state and local taxes as may be required
to be withheld pursuant to any applicable law or regulation.

 

24.            OTHER
EMPLOYMENT ARRANGEMENTS. Except as set forth under any agreements entered into by the parties
hereto after the date hereof, this Agreement shall serve as the exclusive governing agreement governing the subject-matter hereof.

 

25.            EFFECTIVE
DATE. The Executive shall not be entitled to any payment or benefit under this Agreement if
the Executive does not commence work in accordance with the terms of this Agreement on the Effective Date. Notwithstanding anything to
the contrary, if the Purchase Agreement is terminated pursuant to its terms prior to the Closing Date, this Agreement shall be null and
void ab initio and of no force or effect.

 

[remainder of page intentionally
left blank; signature page follows]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Agreement as of the date first written above.

 

	 	COMPANY
	 	 
	 	 
	 	By:	 /s/ Larry Bodner
	 	Name:	Larry Bodner
	 	Title:	Secretary and Treasurer

 

    

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Agreement as of the date first written above.

 

	 	EXECUTIVE
	 	 
	 	 
	 	/s/ Todd R. Lachman
	 	Todd R. Lachman

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