Document:

JOINDER
AND SECOND AMENDMENT AGREEMENT

 

THIS
JOINDER AND SECOND AMENDMENT AGREEMENT, dated as of January 27, 2020 (this “Amendment”), is by and
among PHH MORTGAGE CORPORATION, a New Jersey corporation (as successor by merger to Ocwen Loan Servicing, LLC) (the “Borrower”),
OCWEN FINANCIAL CORPORATION, a Florida corporation (“Parent”), certain Subsidiaries of Parent, as Subsidiary
Guarantors, the Lenders party hereto and BARCLAYS BANK PLC, as Administrative Agent.

 

RECITALS:

 

WHEREAS,
reference is hereby made to the Amended and Restated Senior Secured Term Loan Facility Agreement, dated as of December 5, 2016
(as amended by the Joinder and Amendment Agreement, dated as of March 18, 2019, the “Existing Credit Agreement”)
by and among the Borrower, Parent, the Subsidiary Guarantors, the Lenders party thereto (the “Existing Lenders”),
and Barclays Bank PLC, as Administrative Agent and Collateral Agent;

 

WHEREAS,
the parties hereto wish to amend the Existing Credit Agreement on the terms set forth in the Amended Credit Agreement (as
defined below) to provide for, among other things, the extension of the maturity of a portion of the Loans outstanding under the
Credit Agreement (such loans, the “Existing Term Loans”);

 

WHEREAS,
prior to the effectiveness of this Amendment, the Borrower shall make the Initial Required Payment;

 

WHEREAS,
upon the effectiveness of this Amendment, each Existing Lender that shall have executed and delivered a signature page to the
Lender Consent (each, an “Extending Lender”) shall be deemed to have extended the maturity of all (or such
lesser amount allocated to such Existing Lender by the Arrangers) its Existing Term Loans and (such extended Existing Term
Loans, “Extended Term Loans”) consented to the other amendments set forth in the Amended Credit Agreement,
including the renaming of such Extending Lender’s Existing Term Loans to be Term B-1 Term Loans under the Amended Credit
Agreement;

 

WHEREAS,
upon the effectiveness of this Amendment, each Lender with an Additional Term B-1 Commitment (each, an “Additional Term
B-1 Lender”) shall make an Additional Term B-1 Loan to the Borrower in a principal amount equal to its Additional Term
B-1 Commitment;

 

WHEREAS,
the Administrative Agent, the Loan Parties and the Lenders party hereto or that have executed and delivered Lender Consents are
willing to so agree, subject to the conditions set forth herein; and

 

WHEREAS,
Barclays Bank PLC, JPMorgan Chase Bank, N.A. and Credit Suisse Securities (USA) LLC (collectively, the “Arrangers”)
will act as joint lead arrangers and joint bookrunners hereunder.

 

    	1

    	 

    

 

NOW,
THEREFORE, in consideration of the premises and agreements, provisions and covenants herein contained, the parties hereto
agree as follows:

 

1.
Defined Terms. Capitalized terms used but not defined in this Amendment have the meanings assigned to such terms in the
Amended Credit Agreement. In addition thereto, when used in this Amendment, the following terms have the meanings set forth after
each:

 

“Extension
Fees” means, for each Extending Lender that delivers a Lender Consent at or prior to the Extension Response Deadline,
a fee payable by Borrower through the Administrative Agent on the Second Amendment Effective Date in an amount which is equal
to 2.50% times the allocated principal amount of that Lender’s Term B-1 Loans (after giving effect to the Initial Required
Payment).

 

“Extension
Response Deadline” means January 22, 2020, at 12:00 p.m., New York City time.

 

“Lender
Consents” means consents to this Amendment executed by each Extending Lender, substantially in the form of Exhibit E
hereto.

 

“Initial
Required Payment” means a prepayment of the Restatement Effective Date Term Loans on the Second Amendment Effective
Date in an amount equal to $122,226,189.04.

 

2.
Term B-1 Loans.

 

(a)
Each Extending Lender agrees, on the Second Amendment Effective Date and on the terms and conditions set forth herein and in the
Amended Credit Agreement, to have all (or such lesser amount allocated to such Existing Lender by the Arrangers) its Existing
Term Loans automatically re-named as Term B-1 Loans in accordance with Section 2.01 of the Amended Credit Agreement and such Term
B-1 Loans shall be in effect and outstanding under the Amended Credit Agreement.

 

(b)
The Additional Term B-1 Lender hereby agrees to commit to provide its Additional Term B-1 Commitment as set forth on Schedule
A annexed hereto, on the terms and subject to the conditions set forth herein and in the Amended Credit Agreement. The Additional
Term B-1 Lender (i) confirms that it has received a copy of the Existing Credit Agreement and the other Loan Documents, together
with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate
to make its own credit analysis and decision to enter into this Amendment; (ii) agrees that it will, independently and without
reliance upon the Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Amended Credit Agreement;
(iii) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers
under the Amended Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent, by the terms thereof,
together with such powers as are reasonably incidental thereto; and (iv) agrees that it will perform in accordance with their
terms all of the obligations which by the terms of the Amended Credit Agreement are required to be performed by it as a Lender.
The Additional Term B-1 Lender and the Borrower agree that the Additional Term B-1 Loans will be on the same terms as, and fungible
with, the Term B-1 Loans and, after the funding thereof on the Second Amendment Effective Date and after giving effect to the
Initial Required Payment, will constitute Term B-1 Loans for all purposes of the Amended Credit Agreement. The Additional Term
B-1 Lender acknowledges and agrees that upon its execution of this Amendment and the making of the Additional Term B-1 Loans that
the Additional Term B-1 Lender shall become a “Lender” under, and for all purposes of, the Amended Credit Agreement
and the other Loan Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of
and shall have all rights of a Lender thereunder.

 

    	2

    	 

    

 

3.
Non-Consenting Lenders. Each party hereto agrees that (a) each Existing Lender that shall not have executed a Lender Consent
(collectively, the “Non-Extending Lenders”) shall be a Non-Consenting Lender pursuant to Section 2.21 of the
Existing Credit Agreement and (b) notwithstanding the provisions of Section 2.21 of the Existing Credit Agreement and solely in
connection with this Amendment, in lieu of any assignment on the Second Amendment Effective Date with respect to the Loans of
any Non-Extending Lenders (the “Non-Extended Loans”) to any Replacement Lender, (i) the Borrower, rather than
any such Replacement Lender, shall pay to each Non-Extending Lender the full amount required to be paid to such Non-Extending
Lender pursuant to the terms of Section 2.21 (the “Non-Extending Lenders Payment”) and (ii) immediately after
the payment of the Non-Extending Lenders Payment, each Non-Extended Loan shall be deemed permanently repaid in full. To the
extent an Extending Lender receives an allocation of Term B-1 Loans which is less than the aggregate principal amount of its Existing
Term Loans, the portion of such Existing Term Loans which do not become Term B-1 Loans will be deemed to be Non-Extended Loans
for purposes of this Amendment and such Extending Lender shall be deemed a Non-Extending Lender solely with respect to such Non-Extended
Loans.

 

4.
LIBOR Breakage. Each Lender party hereto hereby waives any breakage fees or other amounts to which such Lender may otherwise
be entitled under Section 2.16(d) of the Existing Credit Agreement which may result from the prepayment of any Loan of that Lender
upon the Second Amendment Effective Date as a part of the Required Payment.

 

5.
Amendments.

 

(a)
Effective as of the Second Amendment Effective Date, the Existing Credit Agreement is hereby amended to delete the stricken text
(indicated textually in the same manner as the following example: stricken text)
and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined
text) as set forth in the pages of the Existing Credit Agreement attached as Exhibit A hereto (the “Amended
Credit Agreement”).

 

(b)
Effective as of the Second Amendment Effective Date, the schedules to the Existing Credit Agreement are hereby amended and restated
in their entirety as attached as Exhibit B hereto.

 

    	3

    	 

    

 

(c)
Exhibit C to the Existing Credit Agreement is, effective as of the Second Amendment Effective Date, hereby amended and restated
as attached as Exhibit C hereto.

 

(d)
Effective as of the Second Amendment Effective Date, the exhibits to the Existing Credit Agreement are hereby amended by adding
Exhibit L in the form attached as Exhibit D hereto.

 

6.
Conditions. The effectiveness of this Amendment and the funding of the Additional Term B-1 Commitments shall be conditioned
upon the satisfaction of the following (the date of satisfaction of such conditions, the “Second Amendment Effective
Date”):

 

		i.	The
                                         Administrative Agent shall have received (x) executed counterparts of this Amendment
                                         signed by each Loan Party and the Additional Term B-1 Lender and (y) a Lender Consent
                                         from each Extending Lender, which shall constitute (A) the Required Lenders under
                                         the Existing Credit Agreement and (B) Lenders holding not less than 90% of aggregate
                                         outstanding principal amount of the Restatement Effective Date Term Loans (provided that
                                         the Additional Term B-1 Commitment shall be included for purposes of calculating the
                                         90% threshold).

 

		ii.	The
                                         Borrower shall deliver or cause to be delivered favorable written opinions of Mayer Brown
                                         LLP and other counsel for Loan Parties, as to such matters as the Administrative Agent
                                         may reasonably request, and otherwise in form and substance reasonably satisfactory to
                                         the Administrative Agent (and each Loan Party hereby instructs such counsel to deliver
                                         such opinions to Agents and Lenders);

 

		iii.	The
                                         Borrower shall have delivered to the Administrative Agent an originally executed certificate
                                         of an Authorized Officer, which shall include certifications to the effect that:

 

		a.	the
                                         representations set forth in Article IV of the Amended Credit Agreement and the
                                         other Loan Documents shall be true and correct in all material respects on and as of
                                         the Second Amendment Effective Date (except to the extent such representations and warranties
                                         relate to an earlier date, in which case, such representations and warranties were true
                                         and correct in all material respects as of such earlier date); provided that to
                                         the extent any such representation or warranty is already qualified by materiality or
                                         material adverse effect, such representation or warranty shall be true and correct in
                                         all respects on and as of the Second Amendment Effective Date; and

 

		b.	no
                                         event has occurred and is continuing or would result from the transactions contemplated
                                         hereby that would constitute a Default or an Event of Default;

 

    	4

    	 

    

 

		iv.	All
                                         fees (including the Extension Fees) and reasonable and invoiced (at least two Business
                                         Days prior to the Second Amendment Effective Date) out-of-pocket expenses required to
                                         be paid to the Lenders, the Administrative Agent or the Lead Arrangers shall have been
                                         paid; 

 

		v.	The
                                         Administrative Agent shall have received a certificate of the secretary or assistant
                                         secretary of each Loan Party certifying (1) that none of such Loan Party’s Organizational
                                         Documents have been amended, supplemented or otherwise modified since the date last delivered
                                         to the Administrative Agent or, if so, attaching true, complete and correct copies of
                                         any such amendment, supplement or modification; (2) signature and incumbency certificates
                                         of the officers of each Loan Party executing this Amendment; and (3) resolutions of the
                                         Board of Directors or similar governing body of each Loan Party ratifying or approving
                                         and authorizing the execution, delivery and performance of this Amendment; 

 

		vi.	The
                                         Administrative Agent shall have received a good standing certificate from the applicable
                                         Governmental Authority of the jurisdiction of incorporation, organization or formation
                                         for each Loan Party, each dated a recent date prior to the Second Amendment Effective
                                         Date;

 

		vii.	The Administrative Agent shall
have received copies of UCC, tax and judgment lien searches or equivalent reports or searches, each of a recent date listing all
effective financing statements, lien notices or comparable documents that name any Loan Party as debtor and that are filed in jurisdictions
that the Administrative Agent deems reasonably necessary or appropriate, none of which encumber the Collateral covered or intended
to be covered by the Security Documents (other than Permitted Liens or any other Liens acceptable to the Administrative Agent);
and

 

		viii.	The
                                         Administrative Agent and Lenders shall have received (i) all documentation and other
                                         information about the Parent, the Borrower and the Subsidiary Guarantors as has been
                                         reasonably requested in writing by the Administrative Agent or Arrangers at least ten
                                         (10) days prior to the Second Amendment Effective Date and they reasonably determine
                                         is required by regulatory authorities under applicable “know-your-customer”
                                         and anti-money laundering rules and regulations, including the Patriot Act and (2) at
                                         least five (5) days prior to the Second Amendment Effective Date, if the Borrower qualifies
                                         as a “legal entity customer” under 31 C.F.R. § 1010.230, it shall deliver
                                         a certification regarding beneficial ownership as required by 31 C.F.R. § 1010.230
                                         to the Administrative Agent and any Lender that requests it;

 

		ix.	The
                                         Administrative Agent shall have received a Borrowing Notice with respect to the
                                         Term B-1 Loans; 

 

		x.	The
                                         Borrower shall have paid to each Existing Lender all accrued and unpaid interest on the
                                         Existing Term Loans held by it to, but not including, the Second Amendment Effective
                                         Date;

 

    	5

    	 

    

 

		xi.	The
                                         Borrower shall have made the Initial Required Payment immediately prior to the Second
                                         Amendment Effective Date, and shall have a delivered a Prepayment Notice with respect
                                         thereto;

 

		xii.	The
Borrower shall have made the Non-Extending Lenders Payment substantially simultaneously with the Second Amendment Effective Date;

 

		xiii.	The
                                         Borrower shall have prepaid the Term B-1 Loans in an aggregate principal amount necessary
                                         to reduce the total outstanding principal amount to $200,000,000 substantially simultaneously
                                         with the Second Amendment Effective Date, and shall have delivered a Prepayment Notice
                                         with respect thereto; and

	 	 	 
	 	xiv.

	The
                                         Borrower shall deliver an Officer’s Certificate setting forth the calculations
                                         (in reasonable detail) demonstrating (i) pro forma compliance with Sections 6.07(b) and
                                         (c) of the Credit Agreement after giving effect to this Amendment and transactions contemplated
                                         hereby as of September 30, 2019.

 

7.
Representations and Warranties. By its execution of this Amendment, the Borrower hereby certifies that the execution, delivery
and performance by the Borrower and each other Loan Party of this Amendment, and each other Loan Document executed or to be executed
by it in connection with this Amendment are within such Loan Party’s corporate or other organizational powers and have been
duly authorized by all necessary corporate, limited liability company, or other organizational action on the part of such Loan
Party. This Amendment has been duly executed and delivered by each Loan Party and constitutes, and each other Loan Document to
which any Loan Party is to be a party, when executed and delivered by such Loan Party, will constitute, a legal, valid and binding
obligation of such Loan Party, enforceable in accordance with its terms and the terms of the Existing Agreement, subject to applicable
bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general
principles of equity, regardless of whether considered in a proceeding in equity or at law. The execution, delivery and performance
by this Amendment and the consummation of the transactions contemplated by this Amendment at the Second Amendment Effective Date
do not and shall not (a) violate (i) any provision of any law, statute, ordinance, rule, regulation, or code applicable to any
Loan Party, (ii) any of the Organizational Documents of any Loan Party or (iii) any order, judgment, injunction or decree of any
court or other agency of government binding on any Loan Party; (b) conflict with, result in a breach of or constitute (with due
notice or lapse of time or both) a default under any Contractual Obligation of any Loan Party except to the extent such conflict,
breach or default would not reasonably be expected to have a Material Adverse Effect; (c) result in or require the creation or
imposition of any Lien upon any of the properties or assets of any Loan Party (other than any Liens created under any of the Loan
Documents in favor of the Collateral Agent on behalf of the Secured Parties); or (d) require any approval of stockholders, members
or partners or any approval or consent of any Person under any Contractual Obligation of any Loan Party, except for such approvals
or consents which have been obtained on or before the Second Amendment Effective Date and except for any such approvals or consents
the failure of which to obtain shall not have a Material Adverse Effect.

 

8.
Loan Document. This Amendment shall be a Loan Document for all purposes.

 

9.
Entire Agreement. This Amendment, the Existing Credit Agreement and the other Loan Documents constitute the entire agreement
among the parties with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings,
both written and verbal, among the parties or any of them with respect to the subject matter hereof.

 

    	6

    	 

    

 

10.
Effect of Agreement. The Existing Credit Agreement as amended by this Amendment and the other Loan Documents shall in all
other respects remain in full force and effect, and no amendment, consent, waiver, or other modification herein in respect of
any term or condition of any Loan Document shall be deemed to be an amendment, consent, waiver, or other modification in respect
of any other term or condition of any Loan Document. Each Loan Party hereby expressly acknowledges the terms of this Amendment
and reaffirms, as of the date hereof, (i) the covenants and agreements contained in each Loan Document to which it is a party,
including, in each case, such covenants and agreements as in effect immediately after giving effect to this Amendment and the
transactions contemplated hereby and (ii) its guarantee of the Obligations under the Guaranty, as applicable, and its grant of
Liens on the Collateral to secure the Obligations pursuant to the Security Documents. This Amendment shall not constitute a novation
of the Existing Credit Agreement or any other Loan Document. This Amendment shall not extinguish the obligations for the payment
of money outstanding under the Existing Credit Agreement or discharge or release the Lien or priority of any Security Document
or any other security therefor. Nothing herein contained shall be construed as a substitution or novation of the obligations outstanding
under the Existing Credit Agreement or instruments securing the same, which shall remain in full force and effect, except to any
extent modified hereby or by instruments executed concurrently herewith and except to the extent repaid as provided herein. Nothing
implied in this Amendment or in any other document contemplated hereby shall be construed as a release or other discharge of any
of the Loan Parties under any Loan Document from any of its obligations and liabilities as a borrower, guarantor or pledgor under
any of the Loan Documents.

 

11.
GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED
AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

12.
Severability. Any term or provision of this Amendment which is invalid or unenforceable in any jurisdiction shall, as to
that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable
the remaining terms and provisions of this Amendment or affecting the validity or enforceability of any of the terms or provisions
of this Amendment in any other jurisdiction. If any provision of this Amendment is so broad as to be unenforceable, the provision
shall be interpreted to be only so broad as would be enforceable.

 

13.
Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed to be an original, but all
of which shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment
by facsimile or other electronic transmission will be effective as delivery of a manually executed counterpart thereof.

 

[Remainder
of page intentionally left blank]

 

    	7

    	 

    

 

IN
WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to execute and deliver this Amendment as of
the date first set forth above.

 

	 	OCWEN
    FINANCIAL CORPORATION
	 	 	 
	 	By:	/s/
    John V. Britti
	 	Name:	John
    V. Britti
	 	Title:	Chief
    Investment Officer
	 	 	 
	 	PHH
    CORPORATION
	 	 	 
	 	By:	/s/
    Hugo Arias
	 	Name:	Hugo
    Arias
	 	Title:	Treasurer
	 	 	 
	 	PHH
    MORTGAGE CORPORATION
	 	 	 
	 	By:	/s/
    Hugo Arias
	 	Name:	Hugo
    Arias
	 	Title:	Vice
    President, Finance

 

	 	BARCLAYS
    BANK PLC, as Additional Term B-1 Lender
	 	 	 
	 	By:	/s/
    Ronnie Glenn
	 	Name:	Ronnie
    Glenn
	 	Title:	Director

 

Consented
to by:

 

	BARCLAYS
    BANK PLC,	 
	as
    Administrative Agent	 
	 	 	 
	By:	/s/
    Ronnie Glenn	 
	Name:	Ronnie
    Glenn	 
	Title:	Director	 

 

    	8

    	 

    

 

EXHIBIT
A

 

MARKED
VERSION REFLECTING CHANGES

PURSUANT
TO JOINDER AND SECOND AMENDMENT AGREEMENT

ADDED
TEXT SHOWN UNDERSCORED

DELETED
TEXT SHOWN STRIKETHROUGH

 

[SEE
ATTACHED]

 

    	 	 	 

    	 	 	 

    

 

AMENDED
AND RESTATED SENIOR SECURED TERM LOAN FACILITY AGREEMENT1

 

dated
as of December 5, 2016

 

among

 

OCWEN
LOAN SERVICING, LLCPHH
MORTGAGE CORPORATION,

as
Borrower,

 

OCWEN
FINANCIAL CORPORATION,

as
Parent,

 

and

 

CERTAIN
SUBSIDIARIES OF OCWEN FINANCIAL CORPORATION,

as
Subsidiary Guarantors,

 

THE
LENDERS PARTY HERETO

 

and

 

BARCLAYS
BANK PLC,

as
Administrative Agent and Collateral Agent

 

 

 

$335,000,000
Amended and Restated Senior
Secured Term Loan Facility_____________________________________________________________

 

BARCLAYS
BANK PLC,

JPMORGAN
CHASE BANK, N.A.,

NOMURA
SECURITIES INTERNATIONAL, INC.

and

CREDIT
SUISSE SECURITIES (USA)LOAN
FUNDING LLC

and

JPMORGAN
CHASE BANK, N.A.,

 

as
Joint Lead Arrangers and Joint Bookrunners

 

BARCLAYS
BANK PLC,

as
Sole Syndication Agent 

 

and

 

JPMORGAN
CHASE BANK, N.A.,

NOMURA
SECURITIES INTERNATIONAL, INC.

and

CREDIT
SUISSE SECURITIES (USA) LLCLOAN
FUNDING LLC 

and

JPMORGAN
CHASE BANK, N.A.,

as
Co-Documentation Agents 

 

1
This marked version is marked against the Amended and Restated Senior Secured Term Loan Facility Agreement, dated as of
December 5, 2016, conformed to reflect the Joinder and Amendment Agreement, dated as of March 18, 2019.

 

    	 	 	 

    	 	 	 

    

 

TABLE
OF CONTENTS

 

	 	 	Page
	 	 	 
	 	ARTICLE I	 
	 	 	 
	 	DEFINITIONS
    AND INTERPRETATION	 
	 	 	 
	Section
    1.01	Definitions	1
	Section
    1.02	Accounting
    Terms	3739
	Section
    1.03	Interpretation,
    Etc.	3839
	Section
    1.04	Effect
    of this Agreement on the Existing Term Loan and the other Loan Documents	3839
	 	 	 
	 	ARTICLE
    II	 
	 	 	 
	 	THE
    FACILITY	 
	 	 	 
	Section
    2.01	Term
    Loan Facility 38	40
	Section
    2.02	Pro
    Rata Shares; Availability of Funds	4041
	Section
    2.03	Use
    of Proceeds	4041
	Section
    2.04	Evidence
    of Debt; Register; Lenders’ Books and Records; Notes	4041
	Section
    2.05	Interest	4142
	Section
    2.06	Conversion/Continuation	4243
	Section
    2.07	Default
    Interest	4343
	Section
    2.08	Fees	4344
	Section
    2.09	Payments	4344
	Section
    2.10	[Reserved]	4344
	Section
    2.11	Voluntary
    Prepayments	4344
	Section
    2.12	Mandatory
    Repayment	4445
	Section
    2.13	Application
    of Prepayments	4646
	Section
    2.14	General
    Provisions Regarding Payments	4647
	Section
    2.15	Ratable
    Sharing	4748
	Section
    2.16	Making
    or Maintaining Eurodollar Rate Loans	4848
	Section
    2.17	Increased
    Costs; Capital Adequacy; Liquidity	4950
	Section
    2.18	Taxes;
    Withholding, Etc.	5051
	Section
    2.19	Obligation
    to Mitigate	5354
	Section
    2.20	Defaulting
    Lenders	5454
	Section
    2.21	Removal
    or Replacement of a Lender	5454
	Section
    2.22	Incremental
    Facilities	55
	 	 	 
	 	ARTICLE
    III	 
	 	 	 
	 	CONDITIONS
    PRECEDENT	 
	 	 	 
	Section
    3.01	Conditions
    Precedent	5758

 

    	-i-

    	 

    

 

	 	 	Page
	 	 	 
	 	ARTICLE
    IV	 
	 	 	 
	 	REPRESENTATIONS
    AND WARRANTIES	 
	 	 	 
	Section
    4.01	Organization
    and Qualification	6060
	Section
    4.02	Corporate
    Authorization	6060
	Section
    4.03	Equity
    Interests and Ownership	6060
	Section
    4.04	[Reserved]	6061
	Section
    4.05	No
    Conflict	6061
	Section
    4.06	Governmental
    Consents	6161
	Section
    4.07	Binding
    Obligation	6161
	Section
    4.08	Financial
    Statements	6161
	Section
    4.09	No
    Material Adverse Change	6161
	Section
    4.10	Tax
    Returns and Payments	6161
	Section
    4.11	Environmental
    Matters	6262
	Section
    4.12	Governmental
    Regulation	6262
	Section
    4.13	[Reserved]	6262
	Section
    4.14	Employee
    Matters	6262
	Section
    4.15	ERISA	6362
	Section
    4.16	Margin
    Stock	6363
	Section
    4.17	[Reserved]	6363
	Section
    4.18	Solvency	6363
	Section
    4.19	Disclosure	6363
	Section
    4.20	PATRIOT
    Act; Anti-Corruption	6463
	Section
    4.21	Security
    Documents	6464
	Section
    4.22	Adverse
    Proceedings; Compliance with Law	6464
	Section
    4.23	Properties	6464
	Section
    4.24	Servicing
    Advances; Specified Deferred Servicing Fees; Specified MSRs	6464
	 	 	 
	 	ARTICLE
    V	 
	 	 	 
	 	AFFIRMATIVE
    COVENANTS	 
	 	 	 
	Section
    5.01	Financial
    Statements and Other Reports	6565
	Section
    5.02	Existence	6968
	Section
    5.03	Payment
    of Taxes and Claims	6968
	Section
    5.04	[Reserved]	6968
	Section
    5.05	Insurance	7068
	Section
    5.06	Books
    and Records; Inspections	7069
	Section
    5.07	Conference
    Calls	7069
	Section
    5.08	Compliance
    with Laws	7069
	Section
    5.09	Environmental	7069
	Section
    5.10	Subsidiaries	7069
	Section
    5.11	Further
    Assurances	7170
	Section
    5.12	Maintenance
    of Ratings	7270
	Section
    5.13	Post-Closing
    Actions[Reserved]	7270
	Section
    5.14	[Reserved]	7271
	Section
    5.15	Servicing
    Agreements	7271

 

    	-ii-

    	 

    

 

	 	 	Page
	 	 	 
	 	ARTICLE
    VI	 
	 	 	 
	 	NEGATIVE
    COVENANTS	 
	 	 	 
	Section
    6.01	Indebtedness	7371
	Section
    6.02	Liens	7573
	Section
    6.03	No
    Further Negative Pledges	7775
	Section
    6.04	Restricted
    Junior Payments	7776
	Section
    6.05	Restrictions
    on Subsidiary Distributions	7876
	Section
    6.06	Investments	7876
	Section
    6.07	Financial
    Covenant Covenants	8078
	Section
    6.08	Fundamental
    Changes; Disposition of Assets; Acquisitions	8078
	Section
    6.09	Disposal
    of Subsidiary Interests	8180
	Section
    6.10	Sales
    and Lease-Backs	8180
	Section
    6.11	Transactions
    with Shareholders and Affiliates	8180
	Section
    6.12	Conduct
    of Business	8280
	Section
    6.13	Modifications
    of Junior Indebtedness	8280
	Section
    6.14	Amendments
    or Waivers of Organizational Documents	8280
	Section
    6.15	Fiscal
    Year	8280
	 	 	 
	 	ARTICLE
    VII	 
	 	 	 
	 	GUARANTY	 
	 	 	 
	Section
    7.01	Guaranty
    of the Obligations	8281
	Section
    7.02	Contribution
    by Subsidiary Guarantors	8281
	Section
    7.03	Payment
    by Guarantors	8381
	Section
    7.04	Liability
    of Guarantors Absolute	8382
	Section
    7.05	Waivers
    by Guarantors	8583
	Section
    7.06	Guarantors’
    Rights of Subrogation, Contribution, Etc.	8583
	Section
    7.07	Subordination
    of Other Obligations	8684
	Section
    7.08	Continuing
    Guaranty	8684
	Section
    7.09	Authority
    of Guarantors or the Borrower	8684
	Section
    7.10	Financial
    Condition of the Borrower	8784
	Section
    7.11	Bankruptcy,
    Etc.	8785
	Section
    7.12	Discharge
    of Guaranty Upon Sale of Guarantor	8785
	Section
    7.13	Keepwell	8885
	 	 	 
	 	ARTICLE
    VIII	 
	 	 	 
	 	EVENTS
    OF DEFAULT	 
	 	 	 
	Section
    8.01	Events
    of Default	8886

 

    	-iii-

    	 

    

 

	 	 	Page
	 	 	 
	 	ARTICLE
    IX	 
	 	 	 
	 	AGENTS	 
	 	 	 
	Section
    9.01	Appointment
    of Agents	9088
	Section
    9.02	Powers
    and Duties	9188
	Section
    9.03	General
    Immunity	9188
	Section
    9.04	Agents
    Entitled to Act as Lender	9289
	Section
    9.05	Lenders’
    Representations, Warranties and Acknowledgment	9390
	Section
    9.06	Indemnity	9390
	Section
    9.07	Successor
    Administrative Agent and Collateral Agent	9390
	Section
    9.08	Security
    Documents and Guaranty	9591
	Section
    9.09	Withholding
    Taxes	9692
	Section
    9.10	Administrative
    Agent May File Proofs of Claim	9693
	Section
    9.11	Certain
    ERISA Matters.	93
	 	 	 
	 	ARTICLE
    X	 
	 	 	 
	 	MISCELLANEOUS	 
	 	 	 
	Section
    10.01	Notices	9794
	Section
    10.02	Expenses	9895
	Section
    10.03	Indemnity	9996
	Section
    10.04	Set-Off	9996
	Section
    10.05	Amendments
    and Waivers	10096
	Section
    10.06	Successors
    and Assigns; Participations	10198
	Section
    10.07	Survival
    of Representations, Warranties and Agreements	105102
	Section
    10.08	No
    Waiver; Remedies Cumulative	105102
	Section
    10.09	Marshalling;
    Payments Set Aside	105102
	Section
    10.10	Severability	105102
	Section
    10.11	Obligations
    Several; Independent Nature of Lenders’ Rights	105102
	Section
    10.12	Headings	105102
	Section
    10.13	APPLICABLE
    LAW	106102
	Section
    10.14	CONSENT
    TO JURISDICTION	106103
	Section
    10.15	Confidentiality	107103
	Section
    10.16	Usury
    Savings Clause	107104
	Section
    10.17	Counterparts	108104
	Section
    10.18	Effectiveness;
    Entire Agreement; No Third Party Beneficiaries	108104
	Section
    10.19	PATRIOT
    Act	108104
	Section
    10.20	Electronic
    Execution of Assignments	108104
	Section
    10.21	No
    Fiduciary Duty	108105
	Section
    10.22	WAIVER
    OF JURY TRIAL	109105
	Section
    10.23	Amendment
    and Restatement; No Novation	109105
	Section
    10.24	Acknowledgement
    and Consent to Bail-In of EEA Financial Institutions	110106
	Section
    10.25	Acknowledgement
    Regarding Any Supported QFCs.	106

 

    	-iv-

    	 

    

 

	SCHEDULES:	1.01(a)	Restatement
    Effective Date Term Commitments1.01(b)	 	Securitization
    Entities
	 	1.01(c)	Principal
    Office	 	 
	 	1.01(d)	Material
    Subsidiaries	 	 
	 	1.01(e)(A)	Specified
    Servicing Agreements	 	 
	 	1.01(e)(B)	Specified
    MSRs/Deferred Servicing Fees/Unencumbered Advances	 	 
	 	1.01(f)	Excluded
    PHH Assets 	 	 
	 	2.09	Amortization
    Schedule	 	 
	 	4.01	Organization
    and Qualification	 	 
	 	4.03	Equity
    Interests and Ownership	 	 
	 	6.01	Certain
    Indebtedness	 	 
	 	6.02	Certain
    Liens	 	 
	 	6.05	Certain
    Restrictions on Subsidiary Distributions	 	 
	 	6.06	Certain
    Investments	 	 
	 	6.08	Certain
    Asset Sales	 	 
	 	6.11	Certain
    Affiliate Transactions	 	 
	 	10.01(a)	Notice
    Addresses	 	 
	 	 	 	 	 
	EXHIBITS:	A-1	Borrowing
    Notice		 
	 	A-2	Conversion/Continuation
    Notice	 	 
	 	B	Term
    Loan Note	 	 
	 	C	Compliance
    Certificate	 	 
	 	D-1	Opinion
    of Mayer Brown LLP	 	 
	 	D-2	Opinion
    of Internal Counsel	 	 
	 	D-3	Opinion
    of U.S. Virgin Islands Counsel	 	 
	 	E	Assignment
    Agreement	 	 
	 	F	Certificate
    re Non-Bank Status	 	 
	 	G-1	Restatement
    Effective Date Certificate	 	 
	 	G-2	Solvency
    Certificate	 	 
	 	H	Counterpart
    Agreement	 	 
	 	I	Intercompany
    Note	 	 
	 	J	Joinder
    Agreement[Reserved]	 	 
	 	K	Prepayment
    Notice	 	 
	 	L	Auction
    Procedures	 	 

 

    	-v-

    	 

    

 

AMENDED
AND RESTATED SENIOR SECURED TERM LOAN FACILITY AGREEMENT

 

This
AMENDED AND RESTATED SENIOR SECURED TERM LOAN FACILITY AGREEMENT, dated as of December 5, 2016, is entered into by and
among OCWEN LOAN SERVICING, LLC, a Delaware limited liability companyPHH
MORTGAGE CORPORATION, a New Jersey corporation (as successor by merger to Ocwen Loan Servicing, LLC) (the
“Borrower”), OCWEN FINANCIAL CORPORATION, a Florida corporation (“Parent”), CERTAIN
SUBSIDIARIES OF OCWEN FINANCIAL CORPORATION, as Subsidiary Guarantors, THE LENDERS PARTY HERETO FROM TIME TO TIME and
BARCLAYS BANK PLC (“Barclays”), as Administrative Agent (together with its permitted successors in such
capacity, the “Administrative Agent”) and as Collateral Agent (together with its permitted successors in such
capacity, the “Collateral Agent”).

 

WITNESSETH:

 

WHEREAS,
Parent, the Borrower, the Subsidiary Guarantors party thereto from time to time, the Lenders party thereto from time to time and
the Administrative Agent are party to the Existing Credit Agreement (as defined herein).

 

WHEREAS,
the Borrower has requested the Lenders extend credit in the form of term loans on the Restatement Effective Date, in an aggregate
principal amount not in excess of $335,000,000.

 

WHEREAS,
the proceeds of the Loans extended by the Lenders hereunder on the Restatement Effective Date are to be used in accordance with
Section 2.03.

 

WHEREAS,
pursuant to the Restatement Agreement (as defined herein), and upon satisfaction (or waiver) of the conditions set forth therein,
the Existing Credit Agreement is being amended and restated in the form of this Agreement.

 

NOW,
THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto
agree as follows:

 

ARTICLE
I

 

DEFINITIONS
AND INTERPRETATION

 

Section
1.01 Definitions. The following terms used herein, including in the preamble, recitals, exhibits and schedules hereto,
shall have the following meanings:

 

“Acknowledgment
Agreement” means an Acknowledgment Agreement among the applicable Specified Government Entity, the Borrower or any Subsidiary
Guarantor and the Collateral Agent, as secured party, pursuant to which the Specified Government Entity acknowledges the security
interest of the Collateral Agent, for the benefit of the Lenders, in the Borrower’s or such Subsidiary Guarantor’s
Specified MSRs under the applicable Servicing Agreement, together with any amendments and addenda thereto including any such agreement
entered into pursuant to Section 5.15(c). For the avoidance of doubt, for purposes of the Financial Covenant Ratios, the entering
into an Acknowledgement Agreement shall not in and of itself result in the Collateral Agent having a First Priority Lien on such
Specified MSRs. 

 

“Acquisition
Consideration” means the purchase consideration for any Permitted Acquisition and all other payments by Parent, the
Borrower or any of their Subsidiaries in exchange for, or as part of, or in connection with, any Permitted Acquisition, whether
paid in cash or by exchange of Equity Interests or of properties or otherwise and whether payable at or prior to the consummation
of such Permitted Acquisition or deferred for payment at any future time, whether or not any such future payment is subject to
the occurrence of any contingency, and includes any and all payments representing the purchase price and any assumptions of Indebtedness,
“earn-outs” and other agreements to make any payment the amount of which is, or the terms of payment of which are,
in any respect subject to or contingent upon the revenues, income, cash flow or profits (or the like) of any Person or business.

 

    	 	1	 

    	 

    

 

“Additional
Extended Term Loans” has the meaning specified in Section 2.22(a).

 

“Additional
Extending Lender” has the meaning specified in Section 2.22(b).

 

“Additional
Lender” means, at any time, any bank, other financial institution or institutional lender or investor that, in any case,
is not an existing Lender and that agrees to provide any portion of any Other Loans pursuant to a Refinancing Amendment in accordance
with Section 2.23.

 

“Additional
Term B-1 Commitment”
 means the commitment of the
Additional Term B-1 Lender to make or otherwise fund the Additional Term B-1 Loan. The amount the Additional Term B-1 Lender’s
Additional Term B-1 Commitment is set forth on Schedule A to the Second Amendment.

 

“Additional
Term B-1 Loan Exposure” means, with respect to the Additional Term B-1 Lender, as of any date of determination, the
outstanding principal amount of the Additional Term B-1 Loans of such Additional Term B-1 Lender.

 

“Additional
Term B-1 Lender” has the meaning given such term in the Second Amendment.

 

“Additional
Term B-1 Loan” means the term loan made by the Additional Term B-1 Lender on the Second Amendment Effective Date
pursuant
to Section 2.01.

 

“Administrative
Agent” has the meaning specified in the preamble hereto.

 

“Advance
Facility Reserves” means, on any date of determination, the aggregate amount on deposit in segregated reserve trust
accounts for any Servicing Advance Facility after giving effect to any amounts owed but unpaid to the related lenders under such
Servicing Advance Facility.

 

“Adverse
Proceeding” means any action, suit, demand, claim, proceeding, hearing (in each case, whether administrative, judicial
(civil or criminal) or otherwise), governmental investigation or arbitration (whether or not purportedly on behalf of Parent,
the Borrower or any of their respective Subsidiaries) at law or in equity, or before or by any Governmental Authority, domestic
or foreign, whether pending or, to the knowledge of Parent, the Borrower or any of their respective Subsidiaries, threatened against
or affecting Parent, the Borrower or any of their respective Subsidiaries or any property of Parent, the Borrower or any of their
respective Subsidiaries.

 

“Affected
Lender” has the meaning specified in Section 2.16(bc).

 

“Affected
Loans” has the meaning specified in Section 2.16(bc).

 

“Affiliate”
means, as applied to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with,
that Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms
“controlling,” “controlled by” and “under common control with”), as applied
to any Person, means the possession, directly or indirectly, of the power (i) to vote 5% or more of the Securities having ordinary
voting power for the election of directors of such Person or (ii) to direct or cause the direction of the management and policies
of that Person, whether through the ownership of voting securities or by contract or otherwise.

 

“Affiliated
Lenders”
means, collectively, the Parent,
the Borrower and their Subsidiaries. 

 

“Agent”
means each of the Administrative Agent, the Collateral Agent, the Syndication Agent and the Co-Documentation Agents.

 

“Agent
Affiliates” has the meaning specified in Section 10.01(b).

 

    	 	2	 

    	 

    

 

“Aggregate
Amounts Due” has the meaning specified in Section 2.15.

 

“Aggregate
Payments” has the meaning specified in Section 7.02.

 

“Agreement”
means this Amended and Restated Senior Secured Term Loan Facility Agreement, dated as of December 5, 2016, as it may be amended,
restated, supplemented or otherwise modified from time to time.

 

“Applicable
Margin” means (i) with respect to Restatement Effective Date Term B-1
Loans that are Eurodollar Rate Loans, 5.006.00%
per annum; and (ii) with respect to Restatement Effective Date Term(ii)
with respect to Term B-1 Loans that are Base Rate Loans, 5.00% per annum;
provided that beginning on the date that is 12 months from the Second Amendment Effective
Date, the “Applicable Margin” shall mean (i) with respect to Term B-1 Loans
that are Eurodollar Rate Loans, 6.50% per annum; (ii) with respect to Term B-1 Loans
that are Base Rate Loans, 4.005.50%
per annum. Nothing in this definition shall limit
the right of the Administrative Agent or any Lender under Section 2.07 or Article VIII and the provisions of this definition shall
survive the termination of this Agreement.

 

“Approved
Electronic Communications” means any notice, demand, communication, information, document or other material that any
Loan Party provides to the Administrative Agent pursuant to any Loan Document or the transactions contemplated therein which is
distributed to any other Agent or to Lenders by means of electronic communications pursuant to Section 10.01(b).

 

“Arrangers”
means Barclays, Credit Suisse Loan Funding LLC and JPMorgan
Chase Bank, N.A., Nomura Securities International, Inc. and Credit Suisse Securities (USA) LLC,
in their capacities as joint lead arrangers and joint bookrunners, together with their permitted successors in such capacities.

 

“Asset
Sale” means a sale, lease or sub-lease (as lessor or sublessor), sale and leaseback, assignment, conveyance, exclusive
license (as licensor or sublicensor), transfer or other disposition to, or any exchange of property with, any Person, in one transaction
or a series of transactions, of all or any part of Parent, the Borrower’s or any of their respective Subsidiaries’
businesses, assets or properties of any kind, whether real, personal, or mixed and whether tangible or intangible, whether now
owned or hereafter acquired, leased or licensed, including the Equity Interests of any of Parent or the Borrower or any of their
respective Subsidiaries, other than (i) transfers to Parent, the Borrower or any Subsidiary Guarantor, or from a Subsidiary that
is not a Subsidiary Guarantor to another Subsidiary that is not a Subsidiary Guarantor, (ii) inventory (or other assets) sold,
leased or licensed in the ordinary course of business (excluding any such sales, leases or licenses by operations or divisions
discontinued or to be discontinued), (iii) sales, leases or licenses of other assets for aggregate consideration of less than
$20,000,000 with respect to any transaction or series of related transactions and less than $30,000,000 in the aggregate during
any Fiscal Year, (iv) sales, contributions, assignments or other transfers of Servicing Advances pursuant to the terms of Permitted
Funding Indebtedness or Non-Recourse Indebtedness, (v) a sale (in one or more transactions) of Servicing Advances (a) in the ordinary
course of business or (b) in connection with the transfer or termination of the related MSRs, (vi) sales, contributions, assignments
or other transfers of Servicing Advances to Securitization Entities and Warehouse Facility Trusts in connection with Securitizations
or Warehouse Facilities, (vii) disposition of Investments or other assets and disposition or compromise of loans or other receivables,
in each case, in connection with the workout, compromise, settlement or collection thereof or exercise of remedies with respect
thereto, in the ordinary course of business or in bankruptcy, foreclosure or similar proceedings, including foreclosure, repossession
and disposition of REO Assets and other collateral for loans serviced and/or originated by Parent, the Borrower or any of their
respective Subsidiaries, (viii) the modification of any loans owned by Parent, the Borrower or any of their respective Subsidiaries
in the ordinary course of business, (ix) sales of Securitization Assets in the ordinary course of business by Parent, the Borrower
or any of their respective Subsidiaries in connection with the origination, acquisition, securitization and/or sale of loans that
are purchased, insured, guaranteed, or securitized by any Specified Government Entity, (x) sales of Securitization Assets in the
ordinary course of business by Parent, the Borrower or any of their respective Subsidiaries in connection with the origination,
acquisition, securitization and/or sale of loans not otherwise permitted by clause (ix) above; provided that with respect
to any sale of Securitization Assets that constitute Collateral pursuant
to this clause (x), (a) no Default or Event of Default shall have occurred and be Continuing or would result therefrom and (b)
the First Lien LTV Ratio and Unencumbered Coverage Ratio
shall not exceed the percentage that is required pursuant to Section 6.07 as of the last day of the most recently ended Fiscal
Quarter for which financial statements have been delivered to the Lenders pursuant to Section 5.01(b) or (c) on a pro forma basis
after giving effect to such sale of loans, (xi) sales, contributions, assignments or other transfers of MSRs that are not Collateral
or any interests therein in connection with MSR Facilities, (xii) Excess Servicing Strips; provided that with respect to
any sale pursuant to this clause (xii), (a) no Default or Event of
Default shall have occurred and be Continuing or would result therefrom and (b) the First Lien LTV Ratio and
Unencumbered Coverage Ratio shall not exceed the percentage that is required pursuant to Section 6.07 as of the last
day of the most recently ended Fiscal Quarter for which financial statements have been delivered to the Lenders pursuant to Section
5.01(b) or (c) on a pro forma basis after giving effect to such Excess Servicing Strip, (xiii) sales of clean-up call rights or
any interests therein and (xiv) dispositions permitted by Sections 6.08(e) and (h).

 

    	 	3	 

    	 

    

 

“Assignment
Agreement” means an Assignment and Assumption Agreement substantially in the form of Exhibit E, with such amendments
or modifications as may be approved by the Administrative Agent.

 

“Assignment
Effective Date” has the meaning specified in Section 10.06(h).

 

“Authorized
Officer” means, as applied to any Person, any individual holding the position of chairman of the board (if an officer),
chief executive officer (or the equivalent thereof), president
or one of its vice presidents (or the equivalent thereof) and such Person’s chief financial
officer or treasurerFinancial Officers.

 

“Available
Amount” means, at any time of determination, an amount equal to (a)(i) the aggregate amount of voluntary repayments
of the Loans pursuant to Section 2.11 made prior to the last day of the most recently completed Fiscal Quarter or (ii) if greater
than the amount set forth in clause (a)(i), the aggregate amount of Consolidated Excess Cash Flow generated from and after the
Restatement Effective Date to the last day of the most recently completed Fiscal Year to the extent such Consolidated Excess Cash
Flow was not, or will not be, required to be applied in accordance with Section 2.12(d), plus (b) the aggregate amount
of Net Cash Proceeds of equity contributions to, or the sale of equity by, Parent received from and after the Restatement Effective
Date (other than Disqualified Equity Interests), plus (c) the aggregate amount of any permitted increase in borrowing for
Servicing Advance Facilities (limited to Specified Net Servicing Advances), minus (d) without duplication, any Restricted
Junior Payments, Permitted Acquisitions, Consolidated Capital Expenditures, amortization payments of Junior Indebtedness or other
Investments made using the Available Amount.

 

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

 

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

 

“Bankruptcy
Code” means Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in effect, or
any successor statute.

 

“Barclays”
has the meaning specified in the preamble hereto.

 

“Base
Rate” means, for any day, a rate per annum equal to the greatest of (i) the Prime Rate in effect on such day, (ii) the
Federal Funds Effective Rate in effect on such day plus 1⁄2 of 1.00%, and (iii) the one-month Eurodollar Rate plus
1.0%. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective
on the effective day of such change in the Prime Rate or the Federal Funds Effective Rate, respectively; provided, however,
that notwithstanding the foregoing, the Base Rate shall at no time be less than 2.00% per annum.

 

“Base
Rate Loan” means a Loan bearing interest at a rate determined by reference to the Base Rate.

 

    	 	4	 

    	 

    

 

“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 LIBO Rate for U.S. dollar-denominated syndicated credit facilities
and (b) the Benchmark Replacement Adjustment; provided that, if the Benchmark Replacement as so determined would be less than
zero, the Benchmark Replacement will be deemed to be zero for the purposes of this Agreement.

 

“Benchmark
Replacement Adjustment” means, with respect to any replacement of 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 and the Borrower giving due consideration
to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment,
for the replacement of 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 LIBO Rate with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated
syndicated credit facilities at such time.

 

“Benchmark
Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational
changes (including changes to the definition of “Base Rate,” the definition of “Interest Period,” timing
and frequency of determining rates and making payments of interest and other administrative matters) that the Administrative Agent
decides 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 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 LIBO Rate permanently or indefinitely
                                         ceases to provide 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 LIBO Rate:

 

		(1)	a
                                         public statement or publication of information by or on behalf of the administrator of
                                         LIBO Rate announcing that such administrator has ceased or will cease to provide 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 LIBO Rate;

 

		(2)	a
                                         public statement or publication of information by the regulatory supervisor for the administrator
                                         of LIBO Rate, the U.S. Federal Reserve System, an insolvency official with jurisdiction
                                         over the administrator for LIBO Rate, a resolution authority with jurisdiction over the
                                         administrator for LIBO Rate or a court or an entity with similar insolvency or resolution
                                         authority over the administrator for LIBO Rate, which states that the administrator of
                                         LIBO Rate has ceased or will cease to provide 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 LIBO Rate; or

 

    	 	5	 

    	 

    

 

		(3)	a
                                         public statement or publication of information by the regulatory supervisor for the administrator
                                         of LIBO Rate announcing that 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 or the Required
Lenders, as applicable, by notice to the Borrower, the Administrative Agent (in the case of such notice by the Required Lenders)
and the Lenders.

 

“Benchmark
Unavailability Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred
with respect to LIBO Rate and solely to the extent that 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
LIBO Rate for all purposes hereunder in accordance with the Section titled “Effect of Benchmark Transition Event”
and (y) ending at the time that a Benchmark Replacement has replaced LIBO Rate for all purposes hereunder pursuant to the Section
titled “Effect of Benchmark Transition Event.”

 

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

 

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

 

“Beneficiary”
means each Agent, Lender and Lender Counterparty.

 

“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”.

 

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

 

“Board
of Governors” means the Board of Governors of the United States Federal Reserve System, or any successor thereto.

 

“Borrower”
means OLS (as defined in the preamble hereto)PHH
Mortgage Corporation and any Successor Borrower (as defined in Section 6.08).

 

“Borrowing”
means a borrowing consisting of the same Type and Class of Loans and, in the case of Eurodollar Rate Loans, having the same Interest
Period made by each Lender pursuant to Section 2.01(a) or Section 2.22..

 

“Borrowing
Notice” means a notice executed by an Authorized Officer substantially in the form of Exhibit A-1.

 

“Business
Day” means (i) any day excluding Saturday, Sunday and any day which is a legal holiday under the laws of the State of
New York or is a day on which banking institutions located in such state are authorized or required by law or other governmental
action to close and (ii) with respect to all notices, determinations, fundings and payments in connection with the Eurodollar
Rate or any Eurodollar Rate Loans, the term “Business Day” means any day which is a Business Day described in clause
(i) and which is also a day for trading by and between banks in Dollar deposits in the London interbank market.

 

    	 	6	 

    	 

    

 

“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.

 

“Cash”
means money, currency or a credit balance on hand or in any demand or Deposit Account.

 

“Cash
Equivalents” means, as at any date of determination, any of the following: (i) marketable securities (a) issued or directly
and unconditionally guaranteed as to interest and principal by the United States Government or (b) issued by any agency of the
United States the obligations of which are backed by the full faith and credit of the United States, 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-1 from S&P or at least
P-1 from Moody’s; (ii) marketable direct obligations issued by any state of the United States of America or any political
subdivision of any such state or any public instrumentality thereof, 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-1 from S&P or at least P-1 from Moody’s; (iii)
certificates of deposit or bankers’ acceptances maturing within three months after such date and issued or accepted by any
Lender or by any commercial bank organized under the laws of the United States of America or any state thereof or the District
of Columbia that (a) is at least “adequately capitalized” (as defined in the regulations of its primary Federal banking
regulator), (b) has Tier 1 capital (as defined in such regulations) of not less than $1,000,000,000 and (c) has a rating of at
least AA- from S&P and Aa3 from Moody’s; and (iv) shares of any money market mutual fund that (a) has net assets of
not less than $5,000,000,000 and (b) has the highest rating obtainable from either S&P or Moody’s.

 

“Certificate
re Non-Bank Status” has the meaning specified in Section 2.18(c).

 

“CFC”
means a controlled foreign corporation within the meaning of Section 957 of the Internal Revenue Code.

 

“Change
in Law” means the occurrence, after the Restatement Effective Date (or with respect to any Lender, if later, the date
on which such Lender becomes a Lender), of any of the following: (a) the adoption or taking effect of any law, rule, regulation
or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof
by any Governmental Authority or (c) the making or issuance of any request, rules, guideline, requirement or directive (whether
or not having the force of law) by any Governmental Authority; provided, however, that notwithstanding anything
herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines,
requirements and directives thereunder, issued in connection therewith or in implementation thereof, and (ii) all requests, rules,
guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant
to Basel III, shall in each case be deemed to a “Change in Law” regardless of the date enacted, adopted, issued or
implemented.

 

“Change
of Control” means (i) any Person or “group” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange
Act) other than holders of equity of Parent as of the Restatement Effective Date shall have acquired beneficial ownership or control
of 35.0% or more on a fully diluted basis of the voting and/or economic interest in the Equity Interests of Parent; (ii)
the majority of the seats (other than vacant seats) on the board of directors (or similar governing body) of Parent cease to be
occupied by Persons who either (a) were members of the board of directors of Parent on the Restatement Effective Date or (b) were
approved by the board of directors of Parent, a majority of whom were directors on the Restatement Effective Date or whose election
or nomination for election was previously so approved; (iii) Parent shall cease to own, directly or indirectly,
100% of the voting and economic interest in the Borrower; or (iviii)
any “change of control” (or similar event, however denominated) shall occur under and as defined in any indenture
or agreement in respect of the Second Lien Notes and the Borrower’s 6.625% Senior Notes
due 2019..

 

    	 	7	 

    	 

    

 

“Class”
means (i) with respect to Lenders, each of the following classes of Lenders: (a) Lenders having Restatement
Effective Date Term B-1 Loan Exposure and
(b) Lenders having New Term Loan Exposure of each applicable Seriesexposure
with respect to any other series of term loans created hereunder and (ii) with respect to Loans, each of the following
classes of Loans: (a) Restatement Effective Date Term
B-1 Loans and (b) each
Series of New Term Loansany other series of term loans
created hereunder.

 

“Co-Documentation
Agents” means Credit Suisse Loan Funding LLC and JPMorgan
Chase Bank, N.A., Nomura Securities International, Inc. and Credit Suisse Securities (USA) LLC,
in their capacities as co-documentation agents, together with their permitted successors in such capacities.

 

“Collateral”
means, collectively, all of the real, personal and mixed property (including Equity Interests) in which Liens are purported to
be granted pursuant to the Security Documents as security for the Obligations. The
Collateral shall not include the Excluded SGE Collateral.

 

“Collateral
Agent” has the meaning specified in the preamble hereto.

 

“Commitment”
means the Restatement Effective DateAdditional
Term LoanB-1
Commitment or the New Term Loan Commitment of a Lender and “Commitments”
means such commitments of all Lenders.

 

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

 

“Compliance
Certificate” means a Compliance Certificate substantially in the form of Exhibit C, which provides detailed calculations
of (x) compliance by Parent with the financial covenants set forth in Section 6.07 and (y) each amount of Realizable Value, Non-Recourse
Indebtedness and Permitted Funding Indebtedness.

 

“Consolidated”
means, when used with reference to financial statements or financial statement items of any Person, such statements or items on
a consolidated basis in accordance with, except as otherwise set forth herein, applicable principles of consolidation under GAAP.

 

“Consolidated
Capital Expenditures” means, for any period, the aggregate of all expenditures of Parent and its Subsidiaries during
such period determined on a consolidated basis that, in accordance with GAAP, are or should be included in “purchase of
property and equipment” or similar items reflected in the Consolidated statement of cash flows of Parent and its Subsidiaries;
provided that Consolidated Capital Expenditures shall not include any expenditures (i) for replacements and substitutions
for fixed assets, capital assets or equipment to the extent made with Net Insurance/Condemnation Proceeds invested pursuant to
Section 2.12(c) or with Net Cash Proceeds from Asset Sales invested pursuant to Section 2.12(b) or (ii) that constitute a Permitted
Acquisition permitted under Section 6.08.

 

“Consolidated
Excess Cash Flow” means, for any period, an amount (if positive) equal to:

 

(i)
the sum, without duplication, of the amounts for such period of (a) Consolidated Net Income, plus, (b) to the extent reducing
Consolidated Net Income, the sum, without duplication, of amounts for non-cash charges reducing Consolidated Net Income, including
for depreciation and amortization (excluding any such non-cash charge to the extent that it represents an accrual or reserve for
potential cash charge in any future period or amortization of a prepaid cash charge that was paid in a prior period), plus
(c) the Consolidated Working Capital Adjustment, minus

 

    	 	8	 

    	 

    

 

(ii)
the sum, without duplication, of (a) the amounts for such period of (1) scheduled and other mandatory repayments, without duplication,
of Indebtedness for borrowed money (excluding repayments of any revolving credit facility other
than Permitted Funding Indebtedness that is not included in Consolidated Working Capital Liabilities except to the
extent the commitments with respect thereto are permanently reduced in connection with such repayments) and scheduled repayments
of obligations under Capital Leases (excluding any interest expense portion thereof), (2) Consolidated Capital Expenditures (other
than Consolidated Capital Expenditures made with the Available Amount), (3) Acquisition Consideration and all consideration paid
in connection with the acquisition of MSRs and Servicing Advances (other than Permitted Acquisitions or other Investments that
are either (A) financed with the Available Amount or (B) in any Person, assets or a business line or unit or a division of any
Person engaged in activities that are not Core Business Activities) and (4) any cash expenditures in respect of any non-operating
and/or non-recurring items, increasing Consolidated Net Income for such period, associated with claims or investigations against
Parent or any of its Subsidiaries brought by any Governmental Authority, without duplication, plus (b) other non -cash
gains increasing Consolidated Net Income for such period (excluding any such non cash gain to the extent it represents the reversal
of an accrual or reserve for potential cash gain in any prior period). As used in this clause (ii), “scheduled and other
mandatory repayments, without duplication, of Indebtedness” do not include any voluntary prepayments of Loans pursuant to
Section 2.11 or mandatory prepayments of the Loans pursuant to Section 2.11.

 

“Consolidated
Net Income” means, for any period, (i) the net income (or loss) of Parent and its Subsidiaries on a consolidated basis
for such period taken as a single accounting period determined in conformity with GAAP, minus (with respect to any gains
or incomes) or plus (with respect to any losses or expenses), to the extent such amounts are included in net income in
conformity with GAAP, (ii) (a) the income (or loss) of any Person (other than a Subsidiary of Parent) in which any other Person
(other than Parent or any of its Subsidiaries) has a joint interest, except to the extent of the amount of dividends or other
distributions actually paid to Parent or any of its Subsidiaries by such Person during such period, (b) the income (or loss) of
any Person accrued prior to the date it becomes a Subsidiary of Parent or the Borrower or is merged into or consolidated with
Parent or any of its Subsidiaries or that Person’s assets are acquired by Parent or any of its Subsidiaries, (c) the income
of any Subsidiary of Parent to the extent that the declaration or payment of dividends or similar distributions by that Subsidiary
of that income is not at the time permitted by operation of the terms of its charter or any agreement, instrument, judgment, decree,
order, statute, rule or governmental regulation applicable to that Subsidiary, (d) any after-tax gains or losses attributable
to Asset Sales or returned surplus assets of any Pension Plan and (e) (to the extent not included in clauses (a) through (d) above)
any net extraordinary gains or net extraordinary losses or any non-operating and/or non-recurring items associated with claims
or investigations against Parent or any of its Subsidiaries brought by any Governmental Authority.

 

“Consolidated
Working Capital” means, as at any date of determination, the excess of Consolidated Working Capital Assets of Parent
and its Subsidiaries over Consolidated Working Capital Liabilities of Parent and its Subsidiaries.

 

“Consolidated
Working Capital Adjustment” means, for any period on a consolidated basis, the amount (which may be a negative number)
by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital
as of the end of such period. In calculating the Consolidated Working Capital Adjustment there shall be excluded the effect of
reclassification during such period of assets included in Consolidated Working Capital Assets and liabilities included in Consolidated
Working Capital Liabilities and the effect of any Permitted Acquisition or any Asset Sale during such period; provided that
there shall be included with respect to any Permitted Acquisition during such period an amount (which may be a negative number)
by which the Consolidated Working Capital acquired in such Permitted Acquisition as at the time of such acquisition exceeds (or
is less than) Consolidated Working Capital with respect to such Permitted Acquisition at the end of such period.

 

“Consolidated
Working Capital Assets” means, as at any date of determination, the total assets of a person and its subsidiaries on
a consolidated basis that are included in the consolidated balance sheet reported to the SEC as “Advances,” “Match
Funded Advances,” “Receivables,” “Deferred Tax Assets (net),” “Other Assets” (including
“Debt service accounts,” “Interest earning collateral deposits” and “Prepaid lender fees and debt
issuance costs, net”), “Loans held for sale” and “Loans held for investment” (excluding Ginnie Mae
Home Equity Conversion Mortgage-Backed Securities that do not qualify for sale accounting) in conformity with GAAP, excluding
cash and cash equivalents.

 

    	 	9	 

    	 

    

 

“Consolidated
Working Capital Liabilities” means, as at any date of determination, the total liabilities of a person and its subsidiaries
on a consolidated basis that are included in the consolidated balance sheet reported to the SEC as “Match Funded Liabilities,”
“Servicer Liabilities,” “Other Liabilities,” “Other secured borrowings” (excluding the Loans
but including the Second Lien Notes) and “Senior Unsecured Notes” in conformity with GAAP.

 

“Continuing”
means, with respect to any Default or Event of Default, that such Default or Event of Default has not been cured or waived or
otherwise ceased to exist.

 

“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.

 

“Contributing
Guarantors” has the meaning specified in Section 7.02.

 

“Conversion/Continuation
Date” means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation
Notice.

 

“Conversion/Continuation
Notice” means a Conversion/Continuation Notice executed by an Authorized Officer substantially in the form of Exhibit
A-2.

 

“Convertible
Notes” means any unsecured Junior Indebtedness of Parent convertible, in whole or in part, into Equity Interests (other
than Disqualified Equity Interests) of Parent and/or cash based on any formula(s) that reference the trading price of Equity Interests
of Parent.

 

“Converting
Term Lender” means each Existing Term Lender that has elected to convert its Existing Term Loans to Restatement Effective
Date Term Loans pursuant to the Restatement Agreement. 

 

“Converting
Term Loans” means each Existing Term Loan as to which the Lender thereof is a Converting Term Lender.

 

“Core
Business Activities” means the business activities of the Parent and its Subsidiaries as conducted on the date hereof
and business activities that are reasonably related, ancillary or complementary thereto or reasonable developments or extensions
thereof, including, but not limited to: (v) loan servicing and collection activities and ancillary services directly related thereto
(including, but not limited to, the making of servicer advances and financing of advances), (w) asset management for investors
that are not a part of the Parent’s consolidated group and management of loans, real estate owned and securities portfolios
for investors that are not a part of the Parent’s consolidated group, (x) originating, acquiring, investing in, pooling,
securitizing and/or selling Servicing Advances, MSRs, residential and commercial mortgage loans (including reverse mortgage loans
and auto dealer floorplan loans) or other loans, leases, asset-backed and mortgage-backed securities and other related securities
or derivatives, consumer receivables, REO Assets or Residual Interests and other similar assets (or any interests in any of the
foregoing), (y) providing warehouse financings to third-party loan originators, and (z) support services to third-party lending
and loan investment and servicing businesses (including any due diligence services, loan underwriting services, real estate title
services, provision of broker-price opinions and other valuation services), collection of consumer receivables, bankruptcy assistance
and solution activities, and the provision of technological support products and services related to the foregoing; as well as
any business in the insurance industry and businesses that are reasonably related, ancillary or complementary thereto or reasonable
developments or extensions thereof; provided, however, that Parent, the Borrower and each of their respective Affiliates
may be permitted to make material changes to their Core Business Activities insofar as these changes relate to originating, acquiring,
securitizing and/or selling loans that are purchased, insured, guaranteed or securitized by any Specified Government Entity.

 

    	 	10	 

    	 

    

 

“Counterpart
Agreement” means a Counterpart Agreement substantially in the form of Exhibit H delivered by a Loan Party pursuant
to Section 5.10.

 

“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).

 

“Credit
Enhancement Agreements” means, collectively, any documents, instruments, guarantees or agreements entered into by Parent,
the Borrower, any of their respective Subsidiaries, or any Securitization Entity for the purpose of providing credit support (that
is reasonably customary as determined by the Borrower’s senior management) with respect to any Permitted Funding Indebtedness
or Permitted Securitization Indebtedness.

 

“Currency
Agreement” means any foreign exchange contract, currency swap agreement, futures contract, option contract, synthetic
cap or other similar agreement or arrangement, each of which is for the purpose of hedging the foreign currency risk associated
with Parent’s, the Borrower’s and their Subsidiaries’ operations and not for speculative purposes.

 

“Default”
means a condition or event that, after notice or lapse of time or both, would constitute an Event of Default.

 

“Default
Excess” means, with respect to any Funds Defaulting Lender, the excess, if any, of such Defaulting Lender’s Pro
Rata Share of the aggregate outstanding principal amount of Loans of all Lenders (calculated as if all Funds Defaulting Lenders
(including such Funds Defaulting Lender) had funded all of their respective Defaulted Loans) over the aggregate outstanding principal
amount of all Loans of such Funds Defaulting Lender.

 

“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.

 

“Default
Period” means, (x) with respect to any Funds Defaulting Lender, the period commencing on the date that such Lender became
a Funds Defaulting Lender and ending on the earliest of: (i) the date on which all Commitments are cancelled or terminated and/or
the Obligations are declared or become immediately due and payable, (ii) the date on which (a) the Default Excess with respect
to such Defaulting Lender shall have been reduced to zero (whether by the funding by such Defaulting Lender of any Defaulted Loans
of such Defaulting Lender or by the non-pro rata application of any voluntary or mandatory prepayments of the Loans in accordance
with the terms of Section 2.11 or Section 2.12 or by a combination thereof) or such Defaulting Lender shall have paid all amounts
due under Section 9.06, as the case may be, and (b) such Defaulting Lender shall have delivered to the Borrower and the Administrative
Agent a written reaffirmation of its intention to honor its obligations hereunder with respect to its Commitments and (iii) the
date on which the Borrower, the Administrative Agent and the Required Lenders waive all failures of such Defaulting Lender to
fund or make payments required hereunder in writing; and (y) with respect to any Insolvency Defaulting Lender, the period commencing
on the date such Lender became an Insolvency Defaulting Lender and ending on the earliest of the following dates: (i) the date
on which all Commitments are cancelled or terminated and/or the Obligations are declared or become immediately due and payable
and (ii) the date that such Defaulting Lender ceases to hold any portion of the Loans or Commitments.

 

    	 	11	 

    	 

    

 

“Default
Rate” has the meaning specified in Section 2.07.

 

“Defaulted
Loan” means any portion of any unreimbursed payment required hereunder not made by any Lender when required hereunder.

 

“Defaulting
Lender” means any Funds Defaulting Lender or Insolvency Defaulting Lender.

 

“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.

 

“Deposit
Account Bank” means a financial institution at which any Loan Party maintains a Deposit Account.

 

“Designated
Jurisdiction” means each jurisdiction approved by the Administrative Agent (such approval not to be unreasonably withheld).

 

“Designated
Subsidiary” means any Foreign Subsidiary organized under the laws of any Designated Jurisdiction that is designated
as a Subsidiary Guarantor pursuant to Section 5.10 by notice in writing to the Administrative Agent.

 

“Disqualified
Equity Interests” means any Equity Interest which, by its terms (or by the terms of any security or other Equity Interests
into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (i) matures or
is mandatorily redeemable (other than solely for Equity Interests which are not otherwise Disqualified Equity Interests), pursuant
to a sinking fund obligation or otherwise, (ii) is redeemable at the option of the holder thereof (other than solely for Equity
Interests which are not otherwise Disqualified Equity Interests), in whole or in part, (iii) provides for scheduled payments or
dividends in cash or (iv) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would
constitute Disqualified Equity Interests, in each case, prior to the date that is 91 days after the latest Maturity Date; provided
that any Equity Interest which, by its terms, provides for dividends in cash to be payable prior to the date that is 91 days
after the latest Maturity Date solely to the extent that (1) such dividends are paid out of the Available Amount and (2) such
payment is permitted under Section 6.04 of this Agreement shall not be a Disqualified Equity Interest so long as the other conditions
stated herein are satisfied.

 

“Dollars”
and the sign “$” mean the lawful money of the United States of America.

 

“Domestic
Subsidiary” means any Subsidiary organized under the laws of the United States of America, any state thereof or the
District of Columbia.

 

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

 

		(1)	(i)
                                         a determination by the Administrative Agent or (ii) a notification by the Required Lenders
                                         to the Administrative Agent (with a copy to the Borrower) that the Required Lenders have
                                         determined that U.S. dollar-denominated syndicated credit facilities being executed at
                                         such time, or that include language similar to that contained in this Section titled
                                         “Effect of Benchmark Transition Event,” are being executed or amended, as
                                         applicable, to incorporate or adopt a new benchmark interest rate to replace LIBO Rate,
                                         and

 

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

 

    	 	12	 

    	 

    

 

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

 

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

 

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

 

“Eligible
Assignee” means (i) any Lender, any Affiliate of any Lender and any Related Fund (any two or more Related Funds being
treated as a single Eligible Assignee for all purposes hereof), and (ii) any commercial bank, insurance company, investment or
mutual fund or other entity that is an “accredited investor” (as defined in Regulation D under the Securities Act)
and which extends credit or buys loans in the ordinary course of business; provided that neither
anyno natural person nor
any Loan Party or any Affiliate thereof shall be an Eligible Assignee.

 

“Employee
Benefit Plan” means any “employee benefit plan” as defined in Section 3(3) of ERISA which is sponsored,
maintained or contributed to by, or required to be contributed to by, Parent or any of its ERISA Affiliates or which
was sponsored, maintained or contributed to by, or required to be contributed to
by, Parent or any of its ERISA Affiliates during the immediately
preceding five plan years.

 

“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 (i) pursuant
to or in connection with any actual or alleged violation of any Environmental Law; or (ii) in connection with any actual or alleged
damage, injury, threat or harm to health, safety, natural resources or the environment.

 

“Environmental
Laws” means any and all current or future foreign or domestic, federal or state (or any subdivision of either of them),
statutes, ordinances, orders, rules, regulations, judgments, Governmental Authorizations, or any other requirements of Governmental
Authorities relating to (i) environmental matters; (ii) the generation, use, storage, transportation or disposal of Hazardous
Materials; or (iii) occupational safety and health, industrial hygiene, land use or the protection of human, plant or animal health
or welfare, in any manner applicable to Parent or any of its Subsidiaries or any Facility.

 

“Equity
Interests” means any and all shares, interests, participations 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.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any successor thereto.

 

“ERISA
Affiliate” means, as applied to any Person, (i) any corporation which is a member of a controlled group of corporations
within the meaning of Section 414(b) of the Internal Revenue Code of which that Person is a member; (ii) any trade or business
(whether or not incorporated) which is a member of a group of trades or businesses under common control within the meaning of
Section 414(c) of the Internal Revenue Code of which that Person is a member; and (iii) any member of an affiliated service group
within the meaning of Section 414(m) or (o) of the Internal Revenue Code of which that Person is a member.

 

    	 	13	 

    	 

    

 

“ERISA
Event” means (i) a “reportable event” within the meaning of Section 4043 of ERISA andor
the regulations issued thereunder with respect to any Pension Plan (excluding those for which the provision for 30-day
notice to the PBGC has been waived by regulation); (ii) the failure to meet the minimum funding standard of Section 303 of ERISA
with respect to any Pension Plan or the failure to make by its due date a required installment under Section 430(j) of the Internal
Revenue Code with respect to any Pension Plan or the failure to make any required contribution to a Multiemployer Plan; (iii)
the provision by the administrator of any Pension Plan pursuant to Section 4041(a)(2) of ERISA of a notice of intent to terminate
such plan in a distress termination described in Section 4041(c) of ERISA; (iv) the withdrawal by Parent or any of its ERISA Affiliates
from any Pension Plan with two or more contributing sponsors or the termination of any such Pension Plan resulting in liability
to Parent or any of its ERISA Affiliates pursuant to Section
4063 or 4064 of ERISA; (v) the institution by the PBGC of proceedings to terminate any Pension Plan, or the occurrence of any
event or condition which constitutes grounds under ERISA for the termination of, or the appointment of a trustee to administer,
any Pension Plan; (vi) the imposition of liability on Parent or its ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA
or by reason of the application of Section 4212(c) of ERISA; (vii) the withdrawal of Parent or any of its ERISA Affiliates in
a complete or partial withdrawal (within the meaning of Sections 4203 andor
4205 of ERISA) from any Multiemployer Plan if there is an assessment by such Multiemployer Plan of liability therefor,
or the receipt by Parent or its ERISA Affiliates of notice from any Multiemployer Plan that it is in reorganization or insolvency
pursuant to Section 4241 or 4245 of ERISA, or that it intends to terminate or has terminated under Section 4041A or 4042 of ERISA;
(viii) the occurrence of an act or omission which gives rise to the imposition on Parent or any of its ERISA Affiliates of fines,
penalties, taxes or related charges under Chapter 43 of the Internal Revenue Code or under Section 409, Section 502(c), (i) or
(l), or Section 4071 of ERISA in respect of any Employee Benefit Plan; (ix) the imposition of a lien pursuant to Section 430(k)
of the Internal Revenue Code with respect to a Pension Plan; or (x) the imposition of any liability under Title IV of ERISA, other
than the PBGC premiums due but not delinquent under Section 4007 of ERISA.

 

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

 

“Eurodollar
Rate” means for any Interest Period as to any Eurodollar Rate Loan, (i) the rate per annum determined by the Administrative
Agent to be the offered rate which appears on the page of the Reuters Screen which displays the London interbank offered rate
administered by ICE Benchmark Administration Limited (such page currently being the LIBOR01 page) (the “LIBO Rate”)
for deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period in Dollars,
determined as of approximately 11:00 a.m. (London, England time), two Business Days prior to the commencement of such Interest
Period, (ii) in the event the rate referenced in the preceding clause (i) does not appear on such page or service or if such page
or service shall cease to be available, the rate determined by the Administrative Agent to be the offered rate on such other page
or other service which displays the LIBO Rate for deposits (for delivery on the first day of such Interest Period) with a term
equivalent to such Interest Period in Dollars, determined as of approximately 11:00 a.m. (London, England time) two Business Days
prior to the commencement of such Interest Period or (iii) in the event the rates referenced in the preceding clauses (i) and
(ii) are not available, the rate per annum determined by the Administrative Agent to be the average offered quotation rate by
major banks in the London interbank market to Barclays for deposits (for delivery on the first day of the relevant period) in
Dollars of amounts in same day funds comparable to the principal amount of the Eurodollar Rate Loan for which the Eurodollar Rate
is then being determined with maturities comparable to such Interest Period as of approximately 11:00 a.m. (London, England time)
two Business Days prior to the commencement of such Interest Period; provided that if LIBO Rates are quoted under either
of the preceding clauses (i) or (ii), but there is no such quotation for the Interest Period elected, the LIBO Rate shall be equal
to the Interpolated Rate; and provided, further, that if any such rate determined pursuant to the preceding clauses
(i) or (ii) is below 1.00%, the Eurodollar Rate will be deemed to be 1.00%.

 

“Eurodollar
Rate Loan” means a Loan bearing interest at a rate determined by reference to the Eurodollar Rate.

 

“Event
of Default” means any of the conditions or events specified in Section 8.01.

 

“Excess
Servicing Strip” means any transaction consisting of the sale of excess servicing fees, or any interest therein to a
third party in the ordinary course of business, or any similar transaction.

 

    	 	14	 

    	 

    

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to time, and any successor statute.

 

“Exchange
Offer Transactions”
means, collectively, the following
transactions (a) the offer (the “Exchange Offer”) by the Borrower to the holders of the Parent’s outstanding
6.625% Senior Notes Due 2019 (the “OFC Notes”) to exchange their OFC Notes for newly issued
8.375% Senior Secured Second Lien Notes
Due 2022 of the Borrower(the
“Second Lien Notes”) pursuant to the Confidential Offering Memorandum dated November 1, 2016, (b) the acceptance
by the Borrower of the OFC Notes tendered in the Exchange Offer (the “Tendered OFC Notes”), the issuance by
the Borrower of Second Lien Notes in exchange therefore and the payment in cash by the Borrower of accrued and unpaid interest
on the Tendered OFC Notes, (c) the distribution by the Borrower of the Tendered OFC Notes to Ocwen Mortgage Servicing, Inc., (d)
following consummation of such distribution, the transfer and sale by Ocwen Mortgage Servicing, Inc. of the Tendered OFC Notes
to the Parent in exchange for a reduction of the indebtedness owing from Ocwen Mortgage Servicing, Inc. to the Parent and (e)
the purchase, prepayment, defeasance or redemption from time to time of any outstanding OFC Notes not tendered in the Exchange
Offer.

 

“Excluded
Institutions” means the financial institutions specifically identified in writing to the Administrative Agent prior
to the date hereof as “Disqualified Lenders.” (it
being understood and agreed that at the request of any Lender the Administrative Agent shall be permitted to disclose to such
Lender the identity of each Excluded Institution).

 

“Excluded
PHH Assets”
means the assets of PHH Corporation and its Subsidiaries as set forth on Schedule 1.01(f) hereto as such schedule may be updated
from time to time by Borrower in writing to the Collateral Agent.

 

“Excluded
SGE Collateral”
means any assets excluded from the Collateral pursuant to clauses (j) and (k) of Section 2.2 of the Security Agreement and
all Excluded PHH Assets to the extent, and only to the extent, and for so long as a pledge of such assets would result in PHH
Corporation or any of its Subsidiaries not being in compliance with the minimum tangible net worth restrictions of Fannie Mae,
Freddie Mac or Ginnie Mae, as applicable.

 

“Excluded
Subsidiary” means (i) any Subsidiary that is treated as a partnership or a disregarded entity for U.S. federal income
tax purposes and that has no material assets other than the stock of one or more Foreign Subsidiaries that are CFCs, (ii) any
Subsidiary that is a CFC or (iii) any Subsidiary of the Parent that is a Subsidiary of a CFC.

 

“Excluded
Swap Obligation” means, with respect to any Subsidiary Guarantor at any time, any obligation (a “Swap Obligation”)
to pay or perform under any Interest Rate Agreement that constitutes a “swap” within the meaning of section 1a(47)
of the Commodity Exchange Act, if, and to the extent that, all or a portion of the guarantee of such Subsidiary Guarantor of,
or the grant by such Subsidiary Guarantor of a security interest to secure, such Swap Obligation (or any guarantee thereof) is
illegal at such time under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission
(or the application or official interpretation of any thereof) by virtue of such Subsidiary Guarantor’s failure for any
reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act.

 

“Excluded
Taxes” means, with respect to a recipient of any payment by any Loan Party under any Loan Document: (i)
Taxes imposed
on or measured by net
income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (a) imposed as
a result of such recipient being organized under
the laws of, or having
its principal office or,
in the case of any Lender, its applicable
lending office located
in, the jurisdiction imposing such Tax or (b) that are imposed as a result of any other 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,
engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan
Document), (ii) any United States federal
withholding tax imposed pursuant to any law in effect at the time such recipient becomes a party to this Agreement (or changes
its applicable lending office), except to the extent such recipient’s assignor (if any) was entitled, immediately prior
to such assignment, or such recipient was entitled, immediately prior to its change in applicable lending office, to receive additional
amounts in respect of such withholding tax pursuant to Section 2.18(a), (iii) any withholding tax that results from a recipient’s
failure to comply with Section 2.18(c), (iv) any U.S. federal withholding tax imposed pursuant to FATCA, and (v) any USVI withholding
tax imposed pursuant to FATCA, provided that a USVI withholding tax imposed pursuant to FATCA shall not constitute an “Excluded
Tax” hereunder to the extent that such recipient has taken all steps necessary (if any) to eliminate U.S. federal withholding
tax that would be imposed pursuant to FATCA if the borrower was a United States person, within the meaning of Code section 7701(a)(30).

 

    	 	15	 

    	 

    

 

“Existing
Credit Agreement” mean thismeans
the Senior
Secured Term Loan Facility Agreement as
amended, supplemented and otherwise modified anddated
as of December 15, 2016, as in effect immediately prior to the amendment and restatement hereofthereof
on the Restatement Effective Date.

 

“Existing
Loan Class”
has the meaning specified in Section 2.22(a).

 

“Existing
Term Lender”
means a Lender that holds Existing Term Loans immediately prior to the Loan”
means each “Restatement Effective Date.“Existing Term Loan” means each
” Term Loan” as defined in the Existing Credit Agreement.

 

“Extension”
means the establishment of an Extension Series by amending a Loan pursuant to Section 2.22 and the applicable Extension Amendment.

 

“Extending
Lender” has the meaning given to such term in the Second Amendment.

 

“Extended
Term Loans” has the meaning given to such term in the Second Amendment.

 

“Extension
Amendment” has the meaning specified in Section 2.22(c).

 

“Extension
Election” has the meaning specified in Section 2.22(b).

 

“Extension
Minimum Condition” shall mean a condition to consummating any Extension that a minimum amount (to be determined and
specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted
for Extension.

 

“Extension
Request” has the meaning specified in Section 2.22(a).

 

“Extension
Series” has the meaning specified in Section 2.22(a).

 

“Facility”
means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or heretofore
owned, leased, operated or used by Parent or any of its Subsidiaries or any of their respective predecessors.

 

“Fair
Share” has the meaning specified in Section 7.02.

 

“Fair
Share Contribution Amount” has the meaning specified in Section 7.02.

 

“FATCA”
means (a) Sections 1471 through 1474 of the Internal Revenue Code as of the date hereof (and any amended and successor version
that is substantively comparable and not materially more onerous to comply with) and any Treasury regulations or other official
administrative interpretations thereof and any agreements entered into
pursuant thereto and (b) each of the foregoing, as applicable to the United States Virgin Islands.

 

“FDIC”
means the Federal Deposit Insurance Corporation.

 

    	 	16	 

    	 

    

 

“Federal
Funds Effective Rate” shall meanmeans,
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 shall be less than zero, such rate shall be deemed
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.

 

“Financial
Covenant Ratios” means the First Lien LTV Ratio, the Unencumbered Coverage Ratio and the Total Secured LTV Ratio.

 

“Financial
Officer” means, as applied to any Person, the chief executive officer (or the equivalent thereof), chief financial officer
(or the equivalent thereof), chief accounting officer (or the equivalent thereof) or treasurer (or the equivalent thereof) of
such Person.

 

“Financial
Officer Certification” means, with respect to the financial statements for which such certification is required, the
certification of the chief financial officera
Financial Officer of Parent that such financial statements fairly present, in all material respects, the financial
condition of Parent and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for
the periods indicated, subject to changes resulting from audit and normal year-end adjustments.

 

“First
Lien LTV Ratio” means the loan-to-value ratio as of the last day of any Fiscal Quarter of (i) the aggregate principal
amount of the Loans then outstanding, to (ii) the sum of:

 

(A)
Specified Net Servicing Advances, plus

 

(B)
Specified Deferred Servicing Fees that are subject to a valid and perfected First Priority Lien in favor of the Collateral Agent
for the benefit of the Lenders, plus

 

(C)
Specified MSR Value of (i) all Specified MSRs that
are subject to a valid and perfected First Priority Lien in favor of the Collateral Agent for the benefit of the Lenders
and (ii) other MSRs to the extent provided in clause (i) of the definition
of Specified MSR Value, plus (D) the greater of zero and the result of (x) all unrestricted Cash
and Cash Equivalentsx) all Specified MSRs
that are subject to a valid and perfected First Priority Lien in favor of the Collateral Agent for the benefit of the Lenders,
minus (y) $50,000,000, and (y)
other MSRs to the extent provided in clause (i) of the definition of Specified MSR Value, plus

 

(D)
the greater of zero and the result of (x) all unrestricted Cash and Cash Equivalents that
are subject to a valid and perfected First Priority Lien in favor of the Collateral Agent for the benefit of the Lenders,
minus (y) $50,000,000, plus

 

(E)
Advance Facility Reserves, plus

 

(F)
Specified Loan Value, plus

 

(G)
without duplication of clause (D), the fair value of marketable securities held by Parent and its Subsidiaries that are subject
to a valid and perfected First Priority Lien in favor of the Collateral Agent for the benefit of the Lenders as of the last day
of the most recently ended Fiscal Quarter for which financial statements have been delivered to the Lenders pursuant to Section
5.01(b) or (c)

 

;
provided that the foregoing calculations in clause (ii) shall not include (x) any assets that have a negative value and
(y) any Excess Servicing Strips.

 

For
the avoidance of doubt, (a) no acknowledgment shall be required
from Ginnie Mae and (b) the Specified MSR Value in clause
(C)(x) shall only include rights to payment under those
Servicing Agreements for which an acknowledgement agreement from the relevant Specified Government Entity (other than with respect
to Ginnie Mae) of the type set forth in Section 5.15(c) has been obtained.

 

    	 	17	 

    	 

    

 

“First
Priority” means, with respect to any Lien purported to be created in any Collateral pursuant to any Security Document,
that such Lien is the only Lien to which such Collateral is subject, other than any Lien permitted pursuant to Sections 6.02(b),
(c), (e) or (h) or with respect to the Second Lien Notes to the extent
subject to the Junior Lien Intercreditor Agreement.

 

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

 

“Fiscal
Year” means the fiscal year of Parent and its Subsidiaries ending on December 31 of each calendar year.

 

“Foreign
Subsidiary” means any Subsidiary that is not a Domestic Subsidiary.

 

“Funding
Guarantor” has the meaning specified in Section 7.02.

 

“Funds
Defaulting Lender” means any Lender who (i) has notified the Borrower or the Administrative Agent in writing, or has
made a public statement, that it does not intend to comply with its obligation to fund any Restatement
Effective Date Term Loan or any New Term Loan or its portion of any unreimbursed payment under Section 9.06, (ii)
has failed to confirm that it will comply with its obligation to fund any Restatement Effective
Date Term Loan or any New Term Loan or its Pro Rata Share of any payment under Section 9.06 within five Business
Days after written request for such confirmation from the Administrative Agent (which request may only be made after all conditions
to funding have been satisfied; provided that such Lender shall cease to be a Funds Defaulting Lender upon receipt of such
confirmation by the Administrative Agent) or (iii) has failed to pay to the Administrative Agent or any other Lender any amount
due under any Loan Document within five Business Days of the date due, unless such amount is the subject of a good faith dispute.

 

“GAAP”
means, subject to the limitations on the application thereof set forth in Section 1.02, United States generally accepted accounting
principles in effect as of the date of determination thereof consistently applied.

 

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

 

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

 

“Grantor”
shall meanmeans
“Grantor” as defined in the Security Agreement and each Designated Subsidiary that grants a lien pursuant to any Security
Document.

 

“Guaranteed
Obligations” has the meaning specified in Section 7.01.

 

“Guarantors”
means Parent and each Subsidiary Guarantor.

 

“Guaranty”
means the guaranty of each Subsidiary Guarantor set forth in Article VII.

 

    	 	18	 

    	 

    

 

“Hazardous
Materials” means any substances or materials (a) which are or become defined as hazardous wastes, hazardous substances,
pollutants, contaminants, chemical substances or mixtures or toxic substances under any Environmental Law, (b) which are toxic,
explosive, corrosive, flammable, infectious, radioactive, carcinogenic, mutagenic or otherwise harmful to human health or the
environment and are or become regulated by any Governmental Authority, (c) the presence of which require investigation or remediation
under any Environmental Law or common law, (d) the discharge or emission or release of which requires a permit or license under
any Environmental Law or other Governmental Authorization, (e) which are deemed to constitute a nuisance or a trespass which pose
a health or safety hazard to Persons or neighboring properties, (f) which consist of underground or aboveground storage tanks,
whether empty, filled or partially filled with any substance or (g) which contain, without limitation, asbestos, polychlorinated
biphenyls, urea formaldehyde foam insulation, petroleum hydrocarbons, petroleum derived substances or waste, crude oil, nuclear
fuel, natural gas or synthetic gas.

 

“Hedge
Agreement” means an Interest Rate Agreement or a Currency Agreement entered into by Parent, the Borrower, any Subsidiary
Guarantor or any other Domestic Subsidiary of Parent or the Borrower that is not a Securitization Entity with a Lender Counterparty.

 

“Highest
Lawful Rate” means the maximum lawful interest rate, if any, that at any time or from time to time may be contracted
for, charged, or received under the laws applicable to any Lender which are presently in effect or, to the extent allowed by law,
under such applicable laws which may hereafter be in effect and which allow a higher maximum nonusurious interest rate than applicable
laws now allow.

 

“Historical
Financial Statements” means (i) the audited financial statements of Parent and its Subsidiaries for the immediately
preceding three Fiscal Years, consisting of balance sheets and the related Consolidated statements of income, stockholders’
equity and cash flows for such Fiscal Years, and (ii) the unaudited financial statements of Parent and its Subsidiaries as of
the most recent Fiscal Quarter ended after the date of the most recent audited financial statements described in clause (i) of
this definition, consisting of a balance sheet and the related Consolidated statements of income, stockholders’ equity and
cash flows for the three-, six- or nine-month period, as applicable, ending on such date, and, in the case of clauses (i) and
(ii), certified by the chief financial officer of Parent that they fairly present, in all material respects, the financial condition
of Parent and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods
indicated, subject to changes resulting from audit and normal year-end adjustments.

 

“HLSS”
means, collectively, HLSS Holdings, LLC and HLSS MSR-EBO Acquisition LLC, and, in each case, their respective successors and assigns.

 

“HLSS
Assets” means, collectively, (i) Servicing Advances, including the right to collect such Servicing Advances, (ii) MSRs
related to such Servicing Agreements or any rights thereto, and the right to receive the servicing fees and related amounts pursuant
to the related Servicing Agreements, and (iii) assets incidental to the foregoing, in each case as identified in the relevant
HLSS Transaction Document.

 

“HLSS
Transaction” means a transaction in which (a) the Borrower or any Subsidiary of Parent sells HLSS Assets to HLSS pursuant
to the HLSS Transaction Documents.

 

“HLSS
Transaction Documents” means the Master Servicing Rights Purchase Agreement, dated October 1, 2012, between the Borrower
and HLSS Holdings, LLC, and each supplement thereto executed or to be executed in connection therewith.

 

“Increased
Amount Date” has the meaning specified in Section 2.22.

 

“Increased
Cost Lender” has the meaning specified in Section 2.21.

 

    	 	19	 

    	 

    

 

“Indebtedness”
means, as applied to any Person, without duplication, (i) all indebtedness for borrowed money; (ii) that portion of obligations
with respect to Capital Leases that is properly classified as a liability on a balance sheet in conformity with GAAP; (iii) notes
payable and drafts accepted representing extensions of credit whether or not representing obligations for borrowed money; (iv)
any obligation owed for all or any part of the deferred purchase price of property or services, including any liquidated earn-out
obligations (excluding any such obligations incurred under ERISA), which purchase price is (a) due more than six (6) months from
the date of incurrence of the obligation in respect thereof or (b) evidenced by a note or similar written instrument; (v) all
indebtedness secured by any Lien on any property or asset owned or held by that Person regardless of whether the indebtedness
secured thereby shall have been assumed by that Person or is non-recourse to the credit of that Person; (vi) the face amount of
any letter of credit issued for the account of that Person or as to which that Person is otherwise liable for reimbursement of
drawings; (vii) Disqualified Equity Interests; (viii) the direct or indirect guaranty, endorsement (otherwise than for collection
or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse by such Person of the
obligation of another that would otherwise be “Indebtedness” for purposes of this definition, but excluding any guaranty
or other recourse arising from or otherwise based on matters such as fraud, misappropriation, breaches of representations, warranties
or covenants and misapplication and customary indemnities in connection with transaction similar to the related “Indebtedness”);
(ix) any obligation of such Person the primary purpose or intent of which is to provide assurance to an obligee that the obligation
of the obligor that would otherwise be “Indebtedness” for purposes of this definition thereof shall be paid or discharged,
or any agreement relating thereto shall be complied with, or the holders thereof shall be protected (in whole or in part) against
loss in respect thereof; (x) any liability of such Person for any Indebtedness of another through any agreement (contingent or
otherwise) (a) to purchase, repurchase or otherwise acquire such Indebtedness or any security therefor, or to provide funds for
the payment or discharge of such obligation (whether in the form of loans, advances, stock purchases, capital contributions or
otherwise) or (b) to maintain the solvency or any balance sheet item, level of income or financial condition of another if, in
the case of any agreement described under subclauses (a) or (b) of this clause (x), the primary purpose or intent thereof is as
described in clause (ix) above; and (xi) all obligations (the amount of which shall be determined on a net basis where permitted
in the relevant contract) of such Person in respect of any exchange traded or over the counter derivative transaction, including
any Interest Rate Agreement and any Currency Agreement, in each case, whether entered into for hedging or speculative purposes;
provided that in no event shall obligations under any derivative transaction be deemed “Indebtedness” for any
purpose under Section 6.01 unless such obligations relate to a derivatives transaction which has been terminated. For the avoidance
of doubt, no Non-Debt Transaction shall be considered Indebtedness.

 

“Indemnified
Liabilities” means, collectively, any and all liabilities, obligations, losses, damages (including natural resource
damages), penalties, claims, actions, judgments, suits, costs, expenses and disbursements of any kind or nature whatsoever (including
the reasonable and documented fees and disbursements of counsel for Indemnitees in connection with any investigative, administrative
or judicial proceeding or hearing commenced or threatened by any Person (including, without limitation, any Loan Party), whether
or not any such Indemnitee shall be designated as a party or a potential party thereto, and any reasonable fees or expenses incurred
by Indemnitees in enforcing this indemnity), whether direct, indirect, special or consequential and whether based on any federal,
state or foreign laws, statutes, rules or regulations (including securities and commercial laws, statutes, and rules or regulations),
on common law or equitable cause or on contract or otherwise, that may be imposed on, incurred by, or asserted against any such
Indemnitee, in any manner relating to or arising out of (i) this Agreement or the other Loan Documents or the transactions contemplated
hereby or thereby (including the use or proposed use of proceeds, the Lenders’ Commitments, the syndication of the credit
facilities provided for herein, or any enforcement of any of the Loan Documents (including any sale of, collection from, or other
realization upon any of the Collateral or the enforcement of the Guaranty)); or (ii) any Environmental Claim relating to or arising
from, directly or indirectly, any past or present activity, operation, land ownership, or practice of the Borrower or any of its
Subsidiaries; but, with regard to each of (i) and (ii), excluding any Taxes (provided, for the avoidance of doubt, that
any indemnification in respect of any Indemnified Liabilities shall be made on an after-Tax basis).

 

“Indemnified
Taxes” means any and all Taxes, other than Excluded Taxes, imposed on or with respect to any payment by any Loan Party
under any Loan Document.

 

“Indemnitee”
has the meaning specified in Section 10.03.

 

“Insolvency
Defaulting Lender” means any Lender who (i) has been adjudicated as, or determined by any Governmental Authority having
regulatory authority over such Person or its assets to be, insolvent, (ii) becomes the subject of an insolvency, bankruptcy, dissolution,
liquidation or reorganization proceeding, (iii) becomes the subject of a Bail-In Action or (iv) becomes the subject of an appointment
of a receiver, intervenor or conservator under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar
law now or hereafter in effect; provided that a Lender shall not be an Insolvency Defaulting Lender solely by virtue of
the ownership or acquisition by a Governmental Authority or an instrumentality thereof of any Equity Interest in such Lender or
a parent company thereof, unless such ownership or acquisition results in or provides such Lender with immunity from the jurisdiction
of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permits such Lender
(or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made
by such Lender.

 

    	 	20	 

    	 

    

 

“Installment”
has the meaning specified in Section 2.09.

 

“Intellectual
Property” has the meaning specified in the Security Agreement.

 

“Intellectual
Property Asset” means, at the time of determination, any interest (fee, license or otherwise) then owned by any Loan
Party in any Intellectual Property.

 

“Intellectual
Property Security Agreements” has the meaning specified in the Security Agreement.

 

“Intercompany
Note” means a promissory note substantially in the form of Exhibit I evidencing Indebtedness owed among Loan
Parties and their Subsidiaries.

 

“Interest
Period” means, in connection with a Eurodollar Rate Loan, an interest period of one, two, three or six months (or (A)
nine or twelve months if agreed to by all relevant Lenders or (B) such shorter period as agreed to by the Administrative Agent),
as selected by the Borrower, (i) initially, commencing on the RestatementSecond
Amendment Effective Date or Conversion/Continuation Date, as the case may be; and (ii) thereafter, commencing on the
day on which the immediately preceding Interest Period expires; provided that (a) if an Interest Period would otherwise
expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day unless no further
Business Day occurs in such month, in which case such Interest Period shall expire on the immediately preceding Business Day;
(b) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically
corresponding day in the calendar month at the end of such Interest Period) shall, subject to clause (c) of this definition, end
on the last Business Day of a calendar month; (c) no Interest Period with respect to any portion of any Class of Loans shall extend
beyond such Class’s Maturity Date; and (d) the Borrower shall select Interest Periods so as not to require a payment or
prepayment of any Eurodollar Rate Loan during an Interest Period for such Loan on any day other than the last day of an Interest
Period; provided that interest shall be payable in a manner consistent with the definition of “Payment Date.”

 

“Interest
Rate Agreement” means any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement,
interest rate hedging agreement or other similar agreement or arrangement, each of which is for the purpose of hedging the interest
rate exposure associated with Parent’s and its Subsidiaries’ operations and not for speculative purposes.

 

“Interest
Rate Determination Date” means, with respect to any Interest Period, the date that is two Business Days prior to the
first day of such Interest Period.

 

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

 

“Interpolated
Rate” means, in relation to the LIBO Rate, the rate which results from interpolating on a linear basis between (i) the
applicable LIBO Rate for the longest period (for which that LIBO Rate is available) which is less than the Interest Period of
that Loan; and (ii) the applicable LIBO Rate for the shortest period (for which that LIBO Rate is available) which exceeds the
Interest Period of that Loan, each as of approximately 11:00 a.m. (London, England time) two Business Days prior to the commencement
of such Interest Period of that Loan.

 

“Investment”
means (i) any direct or indirect purchase or other acquisition by Parent, the Borrower or any of their respective Subsidiaries
of, or of a beneficial interest in, any of the Securities of any other Person (other than a Subsidiary Guarantor); (ii) any direct
or indirect redemption, retirement, purchase or other acquisition for value, by any Subsidiary of Parent, the Borrower from any
Person (other than Parent, the Borrower or any Subsidiary Guarantor), of any Equity Interests of such Person; (iii) any direct
or indirect loan, advance (other than residential mortgage loans in the ordinary course of business, warehouse loans secured by
residential mortgage loans and related assets, advances to employees for moving, entertainment and travel expenses, drawing accounts
and similar expenditures in the ordinary course of business) or capital contributions by Parent, the Borrower or any of their
respective Subsidiaries to any other Person (other than Parent, the Borrower or any Subsidiary Guarantor), including all indebtedness
and accounts receivable from that other Person that are not current assets or did not arise from sales to that other Person in
the ordinary course of business, (iv) all investments consisting of any exchange traded or over the counter derivative transaction,
including any Interest Rate Agreement and Currency Agreement, whether entered into for hedging or speculative purposes, (v) the
purchase or other acquisition (in one transaction or a series of transactions) of all or substantially all of the property and
assets or business of another Person or assets constituting a business unit, line of business or division of any Person and (vi)
expenditures that are or should be included in “purchase of property and equipment” or similar items reflected in
the Consolidated statement of cash flows of Parent and its Subsidiaries. The amount of any Investment of the type described in
clauses (i), (ii), (iii), (v) and (vi) shall be the original cost of such Investment plus the cost of all additions thereto, without
any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs with respect to such Investment.

 

    	 	21	 

    	 

    

 

“Joinder
Agreement” means an agreement substantially in the form of Exhibit J or such
other form or with such changes as may be necessary to reflect term loans made pursuant to Section 2.22 as an increase to the
Restatement Effective Date Term Loans or any prior Series of New Term Loans or such other changes as the Administrative Agent
deems reasonably necessary to reflect an incurrence of term loans under Section 2.22.

 

“Joint
Venture” means a joint venture, partnership or other similar arrangement, whether in corporate, partnership or other
legal form; provided that in no event shall any corporate Subsidiary of any Person be considered to be a Joint Venture
to which such Person is a party.

 

“Junior
Indebtedness” means Indebtedness of any Person so long as (i) such Indebtedness shall not require any amortization prior
to the date that is six months following the latest then applicable Maturity Date; (ii) the weighted average maturity of such
Indebtedness shall occur after the date that is six months following the latest then applicable Maturity Date; (iii) the mandatory
prepayment provisions, affirmative and negative covenants and financial covenants, if any, shall be no more restrictive than the
corresponding provisions set forth in the Loan Documents; (iv) such Indebtedness is either senior unsecured Indebtedness, Subordinated
Indebtedness, Convertible Notes or Second Lien Indebtedness; (v) if such Indebtedness is incurred by a Loan Party, such Indebtedness
may be guaranteed by another Loan Party so long as (a) such Loan Party shall have also provided a guarantee of the Obligations
substantially on the terms set forth in this Agreement and (b) if the Indebtedness being guaranteed is subordinated to the Obligations,
such guarantee shall be subordinated to the guarantee of the Obligations on terms at least as favorable to the Lenders as those
contained in the subordination of such Indebtedness; and (vi) if such Indebtedness is incurred by a Subsidiary of Parent or the
Borrower that is not a Loan Party, such Indebtedness may be guaranteed by another Subsidiary of Parent or the Borrower that is
not a Loan Party; provided that any Indebtedness which, by its terms, provides for amortization prior to the date that
is six months after the latest then applicable Maturity Date solely to the extent that (1) such amortization payments are paid
out of the Available Amount (as defined in this Agreement) and (2) such payment is permitted under Section 6.04 of this Agreement,
shall be deemed Junior Indebtedness so long as the other conditions stated herein are satisfied. The Indebtedness under the Second
Lien Notes shall be Junior Indebtedness.

 

“Junior
Lien Intercreditor Agreement” means an intercreditor agreement, substantially in the form of Exhibit B to the Restatement
Agreement and otherwise in form and substance reasonably satisfactory to the Collateral Agent, among the Collateral Agent, the
Loan Parties and each senior representative acting on behalf of the holders of Junior Indebtedness and/or any other Indebtedness
which is secured by the Collateral on a junior basis with the Obligations, which intercreditor agreement shall provide that the
Liens on the Collateral securing such Indebtedness shall rank junior to the Liens on the Collateral securing the Obligations.

 

“Lender”
means each financial institution listed on the signature pages hereto as a Lender, each financial institution party to the Restatement
Agreement Second Amendment or that has delivered
a Consent (as defined in the Restatement Agreement), and any other Person that becomes a party hereto pursuant to an Assignment
Agreement or Joinder Agreementa
Refinancing Amendment (including, for the avoidance of doubt, each Converting TermExtending
Lender, Additional Extending Lender and Additional Lender).

 

    	 	22	 

    	 

    

 

“Lender
Counterparty” means each Lender, each Agent, each Arranger
and each of their respective Affiliates counterparty to a Hedge Agreement (including any Person who is an Agent,
Arranger or a Lender (and any Affiliate thereof) as of the Restatement Effective Date but subsequently, whether before
or after entering into a Hedge Agreement, ceases to be an Agent, Arranger
or a Lender, as the case may be).

 

“LIBO
Rate” has the meaning specified in the definition of “Eurodollar Rate”.

 

“Lien”
means (i) any lien, mortgage, pledge, assignment, security interest, charge or encumbrance of any kind (including any agreement
to give any of the foregoing, any conditional sale or other title retention agreement, and any lease or license in the nature
thereof) and any option, trust or other preferential arrangement having the practical effect of any of the foregoing and (ii)
in the case of Securities, any purchase option, call or similar right of a third party with respect to such Securities.

 

“Loan”
means a term loan made by a Lender to the Borrower under this Agreement.

 

“Loan
Document” means any of this Agreement, the Notes, if any, the Security Documents, any Junior Lien Intercreditor Agreement
and all other documents, instruments or agreements executed and delivered by a Loan Party for the benefit of any Agent or any
Lender in connection herewith on or after the date hereof.

 

“Loan
Party” means each Person (other than any Agent, any Lender, any Lender Counterparty or any other representative of any
of the foregoing, or any Deposit Account Bank) from time to time party to a Loan Document.

 

“Margin
Stock” as defined in Regulation U.

 

“Material
Adverse Effect” means any event, change, effect, development, circumstance or condition that has caused or could reasonably
be expected to cause a material adverse change, material adverse effect on and/or material adverse developments with respect to
(i) the business, general affairs, assets, liabilities, operations, management, financial condition, stockholders’ equity
or results of operations or value of Parent, Borrower, each Subsidiary Guarantor and each of their Subsidiaries taken as a whole;
(ii) the ability of any Loan Party fully and timely to perform its Obligations; (iii) the legality, validity, binding effect or
enforceability against a Loan Party of a Loan Document to which it is a party; or (iv) the rights, remedies and benefits available
to, or conferred upon, any Agent and any Lender or any Secured Party under any Loan Document.

 

“Material
Indebtedness” means Indebtedness (other than the Loans) of any one or more of Parent, the Borrower or any of their respective
Subsidiaries in an individual principal amount (or Net Mark-to-Market Exposure) of $15,000,000 or more.

 

“Material
Subsidiary” means, at any time, (i) each Domestic Subsidiary of Parent or the Borrower that is not a Securitization
Entity which represents (a) 5% or more of Parent’s Consolidated total assets or (b) 5% or more of Parent’s Consolidated
total revenues, in each case as determined at the end of the most recent fiscal quarter of Parent based on the financial statements
of Parent delivered pursuant to Section 5.01(b) and (c) or (iiiii)
any Subsidiary of Parent or the Borrower designated by notice in writing given by the Borrower to the Administrative Agent to
be a “Material Subsidiary”; provided that any such Subsidiary so designated as a “Material Subsidiary”
shall at all times thereafter remain a Material Subsidiary for the purposes of this Agreement unless otherwise agreed to by the
Borrower and the Required Lenders (it being agreed that as of the Second
Amendment Effective Date, Ocwen USVI Services, LLC shall no longer be a “Material Subsidiary” unless it is meets the
requirements of this definition) or unless such Material Subsidiary ceases to be a Subsidiary in a transaction not
prohibited hereunder; and provided, further, that if at any time the Subsidiaries of Parent and the Borrower (excluding
all Excluded Subsidiaries and Securitization Entities) that are not Material Subsidiaries because they do not meet the thresholds
set forth in clause (i) comprise in the aggregate more than (x) 6% of Parent’s Consolidated total assets or (y) 6% of Parent’s
Consolidated total revenues, in each case as determined at the end of the most recent fiscal quarter of Parent based on the financial
statements of Parent delivered pursuant to this Agreement (but excluding from each such calculation the contribution of Securitization
Entities and Excluded Subsidiaries), then the Borrower shall, not later than thirty (30) days after the date by which financial
statements for such quarter are required to be delivered pursuant to this Agreement, (1) designate in writing to the Administrative
Agent one or more of its Subsidiaries as “Material Subsidiaries” to the extent required such that the foregoing condition
ceases to be true and (2) comply with the provisions of Section 5.10 applicable to such Subsidiaries. Schedule 1.01(d)
contains a list of all Material Subsidiaries as of the RestatementSecond
Amendment Effective Date. Notwithstanding the foregoing, for purposes of all calculations under clause (i)(b) and (i)(y)
of the proviso above, all assets of any Domestic Subsidiary of Parent or any Borrower that have been transferred into a securitization
of Ginnie Mae Home Equity Conversion Mortgage-Backed Securities and are held on such Domestic Subsidiary’s balance sheet
only to comply with the true sale accounting rules set forth in Financial Accounting Standards Board Statement 140 (or other applicable
rule under GAAP requiring such assets to be held on the balance sheet) shall be disregarded in determining Parent’s Consolidated
total assets and the assets of any such Domestic Subsidiary.

 

    	 	23	 

    	 

    

 

“Maturity
Date” means the Restatement Effective Date Term Loan Maturity Date and the New Term
Loan Maturity Date of any Series of New Term Loans.May
15, 2022.

 

“Moody’s”
means Moody’s Investor Services, Inc.

 

“MSR”
means mortgage servicing rights entitling the holder to service mortgage loans.

 

“MSR
Facility” means any financing arrangement of any kind, including, but not limited to, financing arrangements in the
form of repurchase facilities, loan agreements, note issuance facilities and commercial paper facilities, with a financial institution
or other lender or purchaser, in each case, exclusively to finance or refinance the purchase or origination by Parent or a Subsidiary
of Parent of MSRs originated or purchased by Parent or any Subsidiary of Parent.

 

“MSR
Facility Trust” means any Person (whether or not a Subsidiary of the Borrower) established for the purpose of issuing
notes or other securities in connection with an MSR Facility, which (i) notes and securities are backed by specified MSRs originated
or purchased by, and/or contributed to, such Person from Parent, the Borrower or any of their respective Subsidiaries or (ii)
notes and securities are backed by specified MSRs purchased by, and/or contributed to, such Person from Parent, the Borrower or
any of their respective Subsidiaries.

 

“MSR
Indebtedness” means Indebtedness in connection with a MSR Facility; the amount of any particular MSR Indebtedness as
of any date of determination shall be calculated in accordance with GAAP.

 

“Multiemployer
Plan” means any Employee Benefit Plan that is subject to Title IV of ERISA and that is a “multiemployer plan”
as defined in Section 4001(a)(3) of ERISA to which the Borrower or any of its ERISA Affiliates makes or is obligated to make contributions.

 

“NAIC”
means The National Association of Insurance Commissioners, and any successor thereto.

 

“Narrative
Report” means, with respect to the financial statements for which such narrative report is required, a narrative report
describing the operations of Parent and its Subsidiaries with content substantially consistent with the requirements for “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” for a Quarterly Report on Form 10-Q or Annual
Report on Form 10-K under the rules and regulations of the SEC, or any similar successor provisions, which may be satisfied for
the relevant period by delivery of a Form 10-Q or Form 10-K, as applicable, as contemplated by Section 5.01 hereof.

 

“Net
Cash Proceeds” means (a) with respect to any Asset Sale, an amount equal to: (i) cash payments (including any cash received
by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received)
received by Parent or any of its Subsidiaries from such Asset Sale, minus (ii) any bona fide direct costs incurred in connection
with such Asset Sale, including (1) income or gains taxes paid or payable by the seller as a result of any gain recognized in
connection with such Asset Sale, (2) payment of the outstanding principal amount of, premium or penalty, if any, and interest
on any Indebtedness (other than the Loans and Junior Indebtedness) that is secured by a Lien on the stock or assets (or the equity
of any Subsidiary owning the assets) in question and that is required to be repaid under the terms thereof as a result of such
Asset Sale and (3) a reasonable reserve for any indemnification payments (fixed or contingent) attributable to seller’s
indemnities and representations and warranties to purchaser in respect of such Asset Sale undertaken by Parent or any of its Subsidiaries
in connection with such Asset Sale or for adjustments to the sale price in connection therewith, provided if all or any
portion of any such reserve is not used or is released, then the amount not used or released shall comprise Net Cash Proceeds,
minus (iii) mandated fees and penalties by any Specified Government Entity, if any, and all customary or reasonable commissions,
discounts, fees, costs and expenses associated therewith; and (b) with respect to any issuance or incurrence of Indebtedness or
any equity contribution to, or sale of equity by, Parent or the Borrower, the cash proceeds thereof, net of underwriting discounts
and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses.

 

    	 	24	 

    	 

    

 

“Net
Insurance/Condemnation Proceeds” means an amount equal to: (i) any cash payments or proceeds received by Parent or any
of its Subsidiaries (a) under any casualty insurance policy in respect of a covered loss thereunder or (b) as a result of the
taking of any assets of the Borrower or any of its 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, minus
(ii) (a) any actual and reasonable costs incurred by Parent or any of its Subsidiaries in connection with the adjustment or
settlement of any claims of Parent or such Subsidiary of Parent in respect thereof and (b) any bona fide direct costs incurred
in connection with any sale of such assets as referred to in clause (i)(b) of this definition, including income taxes payable
as a result of any gain recognized in connection therewith.

 

“Net
Mark-to-Market Exposure” of a Person means, as of any date of determination, the excess (if any) of all unrealized losses
over all unrealized profits of such Person arising from Hedge Agreements or other Indebtedness of the type described in clause
(xi) of the definition of “Indebtedness.” As used in this definition, “unrealized losses” means the fair
market value of the cost to such Person of replacing such Hedge Agreement or such other Indebtedness as of the date of determination
(assuming the Hedge Agreement or such other Indebtedness were to be terminated as of that date), and “unrealized profits”
means the fair market value of the gain to such Person of replacing such Hedge Agreement or such other Indebtedness as of the
date of determination (assuming such Hedge Agreement or such other Indebtedness were to be terminated as of that date).

 

“New
Term Loan Commitments” as defined in Section 2.22.

 

“New
Term Loan Exposure” means, with respect to any Lender, as of any date of determination, the outstanding principal amount
of the New Term Loans of such Lender.

 

“New
Term Loan Lender” as defined in Section 2.22.

 

“New
Term Loan Maturity Date” means the date on which New Term Loans of a Series shall become due and payable in full hereunder,
as specified in the applicable Joinder Agreement, including by acceleration or otherwise.

 

“New
Term Loans” as defined in Section 2.22.

 

“Non-Consenting
Lender” has the meaning specified in Section 2.21.

 

“Non-Converting
Term Loan” means each Existing Term Loan other than a Converting Term Loan.

 

“Non-Debt
Transaction” means each of (a) the HLSS Transaction, (B) with respect to the interest of any seller, any sale of participation
interests in an asset, (c) Excess Servicing Strips and (d) any liabilities related to a securitization of Ginnie Mae Home Equity
Conversion Mortgage-Backed Securities and are held on such Domestic Subsidiary’s balance sheet only to comply with the true
sale accounting rules set forth in Financial Accounting Standards Board Statement 140 (or other applicable rule under GAAP requiring
such liabilities to be held on the balance sheet).

 

“Non-Extending
Term Loan” means each Existing Term Loan other than an Extended Term Loan.

 

    	 	25	 

    	 

    

 

“Non-Public
Information” means information which has not been disseminated in a manner making it available to investors generally,
within the meaning of Regulation FD.

 

“Non-Recourse
Indebtedness” means, with respect to any specified Person or any of its Subsidiaries, Indebtedness that is specifically
advanced to finance the origination or acquisition of investment assets and secured only by the assets to which such Indebtedness
relates without recourse to such Person or any of its Subsidiaries (other than subject to such customary carve-out matters for
which such Person or its Subsidiaries acts as a guarantor in connection with such Indebtedness, such as fraud, misappropriation,
breach of representation, warranty or covenant and misapplication and customary indemnities in connection with similar transactions,
unless, until and for so long as a claim for payment or performance has been made thereunder (which has not been satisfied) at
which time the obligations with respect to any such customary carve-out shall not be considered Non-Recourse Indebtedness, to
the extent that such claim is a liability of such Person for GAAP purposes).

 

“Not
Otherwise Applied” means, with reference to the Available Amount that is proposed to be applied to a particular use
or transaction permitted by this Agreement, that such amount has not previously been (and is not simultaneously being) applied
to anything other than such particular use or transaction.

 

“Note”
means a promissory note substantially in the form of Exhibit
B, as it may be amended, restated, supplemented or otherwise modified from time to time.

 

“Obligations”
means all obligations of every nature of each Loan Party, including obligations from time to time owed to Agents (including former
Agents), Lenders or any of them and Lender Counterparties, under any Loan Document or Hedge Agreement, whether for principal,
interest (including interest which, but for the filing of a petition in bankruptcy with respect to such Loan Party, would have
accrued on any Obligation, whether or not a claim is allowed against such Loan Party for such interest in the related bankruptcy
proceeding), payments for early termination of Hedge Agreements, fees, expenses, indemnification or otherwise.

 

“Obligee
Guarantor” has the meaning specified in Section 7.07.

 

“Organizational
Documents” means with respect to any Person all formation, organizational and governing documents, instruments and agreements,
including (i) with respect to any corporation, its certificate or articles of incorporation or organization, as amended, supplemented
or otherwise modified, and its by-laws, as amended, supplemented or otherwise modified, (ii) with respect to any limited partnership,
its certificate of limited partnership, as amended, supplemented or otherwise modified, and its partnership agreement, as amended,
supplemented or otherwise modified, (iii) with respect to any general partnership, its partnership agreement, as amended, supplemented
or otherwise modified and (iv) with respect to any limited liability company, its articles of organization, as amended, supplemented
or otherwise modified, and its operating agreement, as amended, supplemented or otherwise modified. In the event 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
Loans” means one or more Classes of Loans that result from a Refinancing Amendment.

 

“Other
Loan Exposure” means, with respect to any Lender, as of any date of determination, the outstanding principal amount
of the Other Loans of such Lender.

 

“Other
Taxes” means all present or future stamp, documentary, excise, property, intangible, mortgage, recording or similar
Taxes arising from any payment made under any Loan Document or from the execution, delivery, registration or enforcement of, or
otherwise with respect to, any Loan Document, except any such Taxes that are imposed with respect to an assignment (other than
an assignment made pursuant to Section 2.21) (an “Assignment Tax”), but only to the extent such Assignment
Taxes are imposed as a result of a present or former connection between the assignor or assignee and the jurisdiction imposing
such Tax (other than a connection arising from such assignor or assignee having executed, delivered, become a party to, performed
its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction
pursuant to and/or enforced any Loan Document).

 

    	 	26	 

    	 

    

 

“Parent”
has the meaning specified in the preamble hereto.

 

“PATRIOT
Act” has the meaning specified in Section 3.01(i).

 

“Payment
Date” means (i) with respect to interest payments, (a) as to any Base Rate Loan, the last day of each March, June, September
and December to occur while such Loan is outstanding and the final maturity date of such Loan, (b) as to any Eurodollar Rate Loan
having an Interest Period of three months or less, the last day of such Interest Period, (c) as to any Eurodollar Rate Loan having
an Interest Period longer than three months, each day that is three months, or a whole multiple thereof, after the first day of
such Interest Period and the last day of such Interest Period and (d) as to any Eurodollar Rate Loan, the date of any repayment
or prepayment made in respect thereof and (ii) with respect to principal payments, the last Business Day of March, June, September
and December of each Fiscal Year, but if such date is not a Business Day, then the “Payment Date” shall be the date
of the next succeeding Business Day; provided that the
Restatement Effective Date shall be a Payment Date with respect to all Existing Term Loans outstanding on such immediately prior
to the Restatement Effective Date.

 

“PBGC”
means the Pension Benefit Guaranty Corporation or any successor thereto.

 

“Pension
Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, which is subject to Title IV of ERISA.

 

“Perfection
Certificate” means a certificate in form reasonably satisfactory to the Collateral Agent that provides information with
respect to the personal or mixed property of each Loan Party.

 

“Permitted
Acquisition” means any acquisition by Parent, the Borrower or any Subsidiary Guarantors, whether by purchase, merger
or otherwise, of all or substantially all of the assets of, all of the Equity Interests of, or a business line or unit or a division
of, any Person; provided that:

 

(i)
immediately prior thereto, and after giving effect thereto, no Default or Event of Default shall have occurred and be
Continuing or would result therefrom;

 

(ii) all transactions in connection therewith shall be consummated, in all material respects, in accordance with all
applicable laws and in conformity with all applicable Governmental Authorizations;

 

(iii) in the case of the acquisition of Equity Interests, all of the Equity Interests (except for any such Equity
Interests in the nature of directors’ qualifying shares required pursuant to applicable law) acquired or otherwise
issued by such Person or any newly formed Subsidiary of Parent or the Borrower in connection with such acquisition shall be
owned 100.0% by Parent or the Borrower or a Subsidiary Guarantor thereof, and Parent or the Borrower shall have taken, or
caused to be taken, as of the date such Person becomes a Subsidiary of Parent or the Borrower, each of the actions set forth
in Section 5.10 (to the extent applicable);

 

(iv) Parent and its Subsidiaries shall be in compliance with the financial covenantcovenants set
forth in Section 6.07 on a pro forma basis after giving effect to such acquisition as of the last day of the Fiscal
Quarter most recently ended for which financial statements of Parent have been delivered pursuant to Section 5.01(b)
or (c);

 

    	 	27	 

    	 

    

 

(v)
for acquisitions involving Acquisition Consideration of $50,000,000 or more, Parent shall have delivered to the
Administrative Agent at least ten (10) Business Days prior to such proposed acquisition (or such shorter period as consented
to by the Administrative Agent in its sole discretion), (x) a Compliance Certificate evidencing compliance with Section 6.07
as required under clause (iv) above, (y) all other relevant financial information with respect to such acquired assets,
including the aggregate consideration for such acquisition and any other information required to demonstrate compliance with
Section 6.07 and (z) an updated version of Schedule 1.01(d) to the extent there are any changes to such
Schedule;

 

(vi)
after giving effect to such acquisition Parent and its Subsidiaries shall be in compliance with Section 6.12; and

 

(vii) for all such acquisitions, Parent shall have delivered to the Administrative Agent prior to such proposed
acquisition a certificate of an Authorized Officer of Parent certifying compliance with clauses (i) – (vi)
above.

 

“Permitted
Funding Indebtedness” means (i) any Permitted Servicing Advance Facility Indebtedness, (ii) any Permitted Warehouse
Indebtedness, (iii) any Permitted Residual Indebtedness, (iv) any Permitted MSR Indebtedness, (v) any Indebtedness of the type
set forth in clauses (i) –through
(iv) of this definition that is acquired by Parent or any of its Subsidiaries in connection with a Permitted Acquisition,
(vi) any facility that combines any Indebtedness under clauses (i), (ii), (iii), (iv) or (v) of this definition and (vii) any
Permitted Refinancing of the Indebtedness under clauses (i), (ii), (iii), (iv), (v) or (vi) of this definition and advanced to
Parent or any of its Subsidiaries based upon, and secured by, Servicing Advances, securities, loans, MSRs, receivables, REO Assets
or Residual Interests or any interests in any of the foregoing; provided, however, that the excess (determined as
of the most recent date for which internal financial statements are available), if any, of (x) the amount of any Indebtedness
incurred in accordance with this clause (vii) for which the holder thereof has contractual recourse to Parent or its Subsidiaries
to satisfy claims with respect thereto (excluding recourse for matters such as fraud, misappropriation, breaches of representations,
warranties or covenants and misapplication and customary indemnities in connection with similar transactions) over (y)
the aggregate (without duplication of amounts) Realizable Value of the assets that secure such Indebtedness shall not be Permitted
Funding Indebtedness (but shall not be deemed to be a new incurrence of Indebtedness subject to Section 6.01 except with respect
to, and solely to the extent of, any such excess that exists upon the initial incurrence of such Indebtedness incurred under this
clause (vii)).

 

“Permitted
Liens” has the meaning specified in Section 6.02.

 

“Permitted
MSR Indebtedness” means MSR Indebtedness; provided that the excess (determined as of the most recent date for
which internal financial statements are available), if any, of (x) the amount of any such MSR Indebtedness for which the holder
thereof has contractual recourse to Parent or its Subsidiaries to satisfy claims with respect to such MSR Indebtedness (excluding
recourse for matters such as fraud, misappropriation, breaches of representations, warranties or covenants and misapplication
and customary indemnities in connection with similar transactions) over (y) the aggregate (without duplication of amounts)
Realizable Value of the assets that secure such MSR Indebtedness shall not be Permitted MSR Indebtedness (but shall not be deemed
to be a new incurrence of Indebtedness subject to Section 6.01 except with respect to, and solely to the extent of, any such excess
that exists upon the initial incurrence of such Indebtedness). The amount of any particular Permitted MSR Indebtedness as of any
date of determination shall be calculated in accordance with GAAP.

 

“Permitted
Refinancing” means, with respect to any Person, any modification, refinancing, refunding, renewal or extension of any
Indebtedness of such Person; provided that (a) the principal amount (or accreted value, if applicable) thereof does not
exceed the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed
or extended except by an amount equal to unpaid accrued interest and premium thereon plus other reasonable amounts paid, and fees
and expenses reasonably incurred, in connection with such modification, refinancing, refunding, renewal or extension and by an
amount equal to any existing commitments unutilized thereunder; (b) other than with respect to a Permitted Refinancing in respect
of Indebtedness permitted pursuant to Section 6.01(g) and (h), such modification, refinancing, refunding, renewal or extension
has a final maturity date equal to or later than the final maturity date of, and has a Weighted Average Life to Maturity equal
to or greater than the Weighted Average Life to Maturity of, the Indebtedness being modified, refinanced, refunded, renewed or
extended (except by virtue of amortization of or prepayment of Indebtedness prior to such date of determination); (c) other than
with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to Section 6.01(g) and (h), at the time
thereof, no Default or Event of Default shall have occurred and be Continuing; (d) to the extent such Indebtedness being modified,
refinanced, refunded, renewed or extended is subordinated in right of payment to the Obligations, such modification, refinancing,
refunding, renewal or extension is either (i) subordinated in right of payment to the Obligations on terms at least as favorable
to the Lenders as those contained in the documentation governing the Indebtedness being modified, refinanced, refunded, renewed
or extended or (ii) in the form of Indebtedness permitted to be incurred under Section 6.01(o); (e) Indebtedness of Parent, the
Borrower or a Subsidiary Guarantor shall not refinance Indebtedness of a Subsidiary of Parent that is not the Borrower or a Subsidiary
Guarantor; and (f) the material terms and conditions (including, if applicable, as to collateral but excluding as to subordination,
interest rate and redemption premium) of any such modification, refinancing, refunding, renewal or extension, taken as a whole,
are not materially less favorable to the Lenders than the terms and conditions of the Indebtedness being modified, refinanced,
refunded, renewed or extended.

 

    	 	28	 

    	 

    

 

“Permitted
Residual Indebtedness” means any Indebtedness of Parent or any of its Subsidiaries under a Residual Funding Facility;
provided that the excess (determined as of the most recent date for which internal financial statements are available),
if any of (x) the amount of any such Permitted Residual Indebtedness for which the holder thereof has contractual recourse to
Parent or its Subsidiaries to satisfy claims with respect to such Permitted Residual Indebtedness (excluding recourse for matters
such as fraud, misappropriation, breaches of representations, warranties or covenants and misapplication and customary indemnities
in connection with similar transactions) over (y) the aggregate (without duplication of amounts) Realizable Value of the
assets that secure such Permitted Residual Indebtedness shall be deemed not to be Permitted Residual Indebtedness (but shall not
be deemed to be a new incurrence of Indebtedness subject to Section 6.01 except with respect to, and solely to the extent of,
any such excess that exists upon the initial incurrence of such Indebtedness).

 

“Permitted
Securitization Indebtedness” means Securitization Indebtedness; provided that (i) in connection with any Securitization,
any Warehouse Indebtedness or MSR Indebtedness used to finance the purchase or origination of any receivables or other asset subject
to such Securitization is repaid in connection with such Securitization to the extent of the net proceeds received by Parent and
its Subsidiaries from the applicable Securitization Entity and (ii) the excess (determined as of the most recent date for which
internal financial statements are available), if any, of (x) the amount of any such Securitization Indebtedness for which the
holder thereof has contractual recourse to Parent or its Subsidiaries to satisfy claims with respect to such Securitization Indebtedness
(excluding recourse for matters such as fraud, misappropriation, breaches of representations, warranties or covenants and misapplication
and customary indemnities in connection with similar transactions) over (y) the aggregate (without duplication of amounts)
Realizable Value of the assets that secure such Securitization Indebtedness shall not be Permitted Securitization Indebtedness
(but shall not be deemed to be a new incurrence of Indebtedness subject to Section 6.01 except with respect to, and solely to
the extent of, any such excess that exists upon the initial incurrence of such Indebtedness).

 

“Permitted
Servicing Advance Facility Indebtedness” means any Indebtedness of Parent or any of its Subsidiaries incurred under
a Servicing Advance Facility; provided, however, that the excess (determined as of the most recent date for which
internal financial statements are available), if any of (x) the amount of any such Permitted Servicing Advance Facility Indebtedness
for which the holder thereof has contractual recourse to Parent or its Subsidiaries to satisfy claims with respect to such Permitted
Servicing Advance Facility Indebtedness (excluding recourse for matters such as fraud, misappropriation, breaches of representations,
warranties or covenants and misapplication and customary indemnities in connection with similar transactions) over (y)
the aggregate (without duplication of amounts) Realizable Value of the assets that secure such Permitted Servicing Advance Facility
Indebtedness shall not be Permitted Servicing Advance Facility Indebtedness (but shall not be deemed to be a new incurrence of
Indebtedness subject to Section 6.01 except with respect to, and solely to the extent of, any such excess that exists upon the
initial incurrence of such Indebtedness).

 

“Permitted
Warehouse Indebtedness” means Warehouse Indebtedness; provided that the excess (determined as of the most recent
date for which internal financial statements are available), if any, of (x) the amount of any such Warehouse Indebtedness for
which the holder thereof has contractual recourse to Parent or its Subsidiaries to satisfy claims with respect to such Warehouse
Indebtedness (excluding recourse for matters such as fraud, misappropriation, breaches of representations, warranties or covenants
and misapplication and customary indemnities in connection with similar transactions) over (y) the aggregate (without duplication
of amounts) Realizable Value of the assets that secure such Warehouse Indebtedness shall not be Permitted Warehouse Indebtedness
(but shall not be deemed to be a new incurrence of Indebtedness subject to Section 6.01 except with respect to, and solely to
the extent of, any such excess that exists upon the initial incurrence of such Indebtedness). The amount of any particular Permitted
Warehouse Indebtedness as of any date of determination shall be calculated in accordance with GAAP.

 

    	 	29	 

    	 

    

 

“Person”
means and includes natural persons, corporations, limited partnerships, general partnerships, limited liability companies, limited
liability partnerships, joint stock companies, Joint Ventures, associations, companies, trusts, banks, trust companies, land trusts,
business trusts or other organizations, whether or not legal entities, and Governmental Authorities.

 

“Platform”
has the meaning specified in Section 5.01(o).

 

“Prepayment
Notice” has the meaning specified in Section 2.11(a), which shall be substantially in the form of Exhibit K.

 

“Previously
Absent Covenant” means, at any time (i) any covenant or other restrictive provision that is not included in this Agreement
at such time and (ii) any covenant or other restrictive provision that is included in this Agreement at such time but with covenant
levels and component definitions (to the extent relating to such covenant and provision) in this Agreement that are less restrictive
on the Borrower than those in the applicable Extension Amendment or Refinancing Amendment.

 

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

 

“Principal
Office” means, with respect to the Administrative Agent, such Person’s “Principal Office” as set forth
on Schedule 1.01(c), or such other office or office of a third party or sub-agent, as appropriate, as such Person may from
time to time designate in writing to the Borrower, the Administrative Agent and each Lender.

 

“Projections”
has the meaning specified in Section 5.01(d).

 

“Pro
Rata Share” means (i) with respect to all payments, computations and other matters relating to the Restatement
Effective Date Term LoanB-1
Loans of any Lender, the percentage obtained by dividing (a) an
amount equal to the Restatement Effective Date Term B-1
Loan Exposure of that Lender by (b) an amount equal to the
sum of the aggregate Restatement Effective Date Term B-1
Loan Exposure of all Lenders; and (ii,
(ii) all borrowings and other matters relating to the Additional Term B-1 Loans of any Lender, the percentage obtained by dividing
(a) an amount equal to the Additional Term B-1 Loan Exposure of that Lender by (b) an amount equal to the sum of the aggregate
Additional Term B-1 Loan Exposure of all Lenders and (iii) with respect to all payments, computations, and other matters
relating to New Term Loan Commitments or New TermOther
Loans of a particular Seriesseries,
the percentage obtained by dividing (a) the New TermOther
Loan Exposure of that Lender with respect to that Seriesseries
by (b) the aggregate New TermOther
Loan Exposure of all Lenders with respect to that Seriesseries.
For all other purposes with respect to each Lender, “Pro Rata Share” means the percentage obtained by dividing (A)
an amount equal to the sum of the Restatement Effective Date Term Loan Exposure and the New
Term Loan Exposure of that Lender, by (B) an amount equal to the sum of the aggregate Restatement
Effective Date Term Loan Exposure and the aggregate New Term Loan Exposure of all Lenders.

 

“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
Lenders” has the meaning specified in Section 5.01(o).

 

    	 	30	 

    	 

    

 

“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).

 

“Qualified
ECP Loan Party” means, in respect of any Swap Obligation, each Loan Party that has total assets exceeding $10,000,000
at the time such Swap Obligation is incurred.

 

“Realizable
Value” of an asset means (i) with respect to any REO Asset, the value realizable upon the disposition of such asset
as determined by the Parent in its reasonable discretion and consistent with customary industry practice and (ii) with respect
to any other asset, the lesser of (x) if applicable, the face value of such asset and (y) the market value of such asset as determined
by Parent in accordance with the agreement governing the applicable Permitted Servicing Advance Facility Indebtedness, Permitted
Warehouse Indebtedness, Permitted MSR Indebtedness or Permitted Residual Indebtedness, as the case may be, (or, if such agreement
does not contain any related provision, as determined by senior management of Parent in good faith); provided, however,
that the realizable value of any asset described in clause (i) or (ii) above which an unaffiliated third party has a binding contractual
commitment to purchase from Parent or any of its Subsidiaries shall be the minimum price payable to Parent or such Subsidiary
for such asset pursuant to such contractual commitment.

 

“Refinancing”
means the repayment in full of the Existing Term Loans with the proceeds of the Restatement Effective Date Term Loans.
Amendment” means an amendment to this Agreement
in form and substance reasonably
satisfactory to the
Administrative Agent and the Borrower executed by each of (a) the Borrower, (b) the Administrative Agent and (c) each Additional
Lender and each Lender that agrees to provide any portion of the Other Loans being incurred or provided pursuant thereto, in accordance
with Section 2.23.

 

“Register”
has the meaning specified in Section 2.04(b).

 

“Regulation
D” means Regulation D of the Board of Governors, as in effect from time to time.

 

“Regulation
FD” means Regulation FD as promulgated by the SEC under the Securities Act and Exchange Act.

 

“Regulation
T” means Regulation T of the Board of Governors, as in effect from time to time.

 

“Regulation
U” means Regulation U of the Board of Governors, as in effect from time to time.

 

“Regulation
X” means Regulation X of the Board of Governors, as in effect from time to time.

 

“Related
Fund” means, with respect to any Lender that is an investment fund, any other investment fund that invests in commercial
loans and that is managed or advised by the same investment advisor as such Lender or by an Affiliate of such investment advisor.

 

“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 indoor or outdoor 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 Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially
endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto.

 

“REO
Assets” of a Person means any real property owned by such Person and acquired as a result of the foreclosure or other
enforcement of a lien on such asset securing a loan, Servicing Advance or other mortgage-related receivables.

 

“Replacement
Lender” has the meaning specified in Section 2.21.

 

    	 	31	 

    	 

    

 

“Required
Lenders” means one or more Lenders having or holding Restatement Effective Date Term
Loan Exposure and/or New Term Loan Exposure and representing more than 50% of
the sum of (i) the aggregate Restatement Effective Date Term Loan Exposure of
all Lenders and (ii) the aggregate Newaggregate
Term Loan Exposure of all Lenders.

 

“Residual
Funding Facility” means any funding arrangement with a financial institution or institutions or other lenders or purchasers
under which advances are made to Parent or any Subsidiary of Parent secured by Residual Interests and permitted Investments (with
such permitted Investments being purchased with proceeds received from any related Residual Interest and/or pledged by the Parent
or any applicable Subsidiary to offset any market value decline in any related Residual Interest).

 

“Residual
Interests” means any residual, subordinated, reserve accounts or other retained ownership interest held by Parent or
a Subsidiary in Securitization Entities, Warehouse Facility Trusts and/or MSR Facility Trusts or any securities issued by such
Securitization Entity, Warehouse Facility Trust or MSR Facility Trust, regardless of whether required to appear on the face of
the Consolidated financial statements in accordance with GAAP.

 

“Restatement
Agreement” means the Restatement Agreement to the Existing Credit Agreement, dated as of December 5, 2016, by and among
the Borrower, Parent, the other Guarantors party thereto, the Lenders party thereto and the Administrative Agent.

 

“Restatement
Effective Date” has the meaning specified in the Restatement Agreement.

 

“Restatement
Effective Date Certificate” means a certificate substantially in the form of Exhibit G-1.

 

“Restatement
Effective Date Term Loan Commitment”
means the commitment of a
Lender to make or otherwise fund a Restatement Effective Date Term Loan and “Restatement Effective Date Term Loan Commitments”
means such commitments of all Lenders in the aggregate. The amount of each Lender’s Restatement Effective Date Term Loan
Commitment, if any, is set forth on Schedule
1.01(a) or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the
terms and conditions hereof. The aggregate amount of the Restatement Effective Date Term Loan Commitments as of the Restatement
Effective Date is $335,000,000 minus the amount of Converting Term Loans.

 

“Restatement
Effective Date Term Loans” means the term loans made by the Lenders on the Restatement Effective Date to the Borrower
pursuant to
Section 2.01.

 

“Restatement
Effective Date Term Loan Exposure” means, with respect to any Lender, as of any date of determination, the outstanding
principal amount of the Restatement Effective Date Term Loans of such Lender.

 

“Restatement
Effective Date Term Loan Maturity Date” means the fourth anniversary of the Restatement Effective Date.

 

“Restricted
Junior Payment” means (i) any dividend or other distribution, direct or indirect, on account of any shares of any class
of stock of Parent, the Borrower or any of their respective Subsidiaries now or hereafter outstanding, except a dividend payable
solely in shares of that class of stock to the holders of that classstock
(or securities convertible into or exchangeable for stock) other than directors’ qualifying shares of such Person;
(ii) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect,
of any shares of any class of stock of Parent, the Borrower or any of their respective Subsidiaries now or hereafter outstanding;
(iii) 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 stock of Parent, the Borrower or any of their respective Subsidiaries now or hereafter outstanding; and
(iv) any prepayment of principal of, or any redemption, purchase, retirement, defeasance (including in substance or legal defeasance),
sinking fund or similar payment with respect to, any Junior Indebtedness prior to any scheduled repayment or final maturity of
Junior Indebtedness, any preferred stock, and any Indebtedness convertible into any class of stock of Parent, the Borrower or
any of their respective Subsidiaries.

 

    	 	32	 

    	 

    

 

“S&P”
means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc.

 

“SEC”
means the United States Securities and Exchange Commission and any successor Governmental Authority performing a similar function.

 

“Second
Amendment” means the Joinder and Second Amendment Agreement, dated as of the Second Amendment Effective Date, by and
among the Borrower, the Parent, the other Guarantors party thereto, the Lenders party thereto and the Administrative Agent.

 

“Second
Amendment Effective Date” means January 27, 2020.

 

“Second
Lien Indebtedness” means any senior secured Indebtedness which is secured by the Collateral on a junior basis with the
Obligations (including the Second Lien Notes).

 

“Second
Lien Notes” has meaning specified in the definition of “Exchange Offer Transactions.”the
8.375%
Senior Secured Second Lien Notes Due 2022 of the Borrower.

 

“Secured
Parties” has the meaning specified in the Security Agreement.

 

“Securities”
means any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any profit-sharing
agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured,
convertible, subordinated or otherwise, or in general any instruments commonly known as “securities” or any certificates
of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to
subscribe to, purchase or acquire, any of the foregoing.

 

“Securities
Act” means the Securities Act of 1933, as amended from time to time, and any successor statute.

 

“Securitization”
means a public or private transfer, sale, pledge or financing of Securitization Assets by the Parent, a Borrower or any of their
respective Subsidiaries, directly or indirectly, including, without limitation, any such transaction involving the sale of specified
Servicing Advances, mortgage loans or dealer floorplan receivables to a Securitization Entity.

 

“Securitization
Assets” means (i) Servicing Advances, (ii) mortgage loans, (iii) installment contracts, (iv) deferred servicing fees,
(v) dealer floorplan loans and other receivables, (vi) other loans, (vii) mortgage backed or other asset backed securities and/or
(viii) any interest in any of the foregoing or related assets of the foregoing and (ix) any proceeds, collections and other amounts
specified to be directed to or property of a Securitization Entity, including for the avoidance of doubt, proceeds of any collateral
directly related to the assets described in clauses (i) through (viii) hereof.

 

“Securitization
Entity” means (i) any Person other than the Borrower (whether or not a Subsidiary of Parent or the Borrower) established
for the purpose of issuing asset-backed or mortgaged-backed or mortgage pass-through securities of any kind (including collateralized
mortgage obligations and net interest margin securities), (ii) any special purpose Subsidiary established for the purpose of selling,
depositing or contributing Securitization Assets into a Person described in clause (i) or holding securities in any related Securitization
Entity, regardless of whether such person is an issuer of securities; provided that such Person is not an obligor with
respect to any Indebtedness of Parent, the Borrower or any Subsidiary Guarantor and (iii) any special purpose Subsidiary of Parent
or the Borrower formed exclusively for the purpose of satisfying the requirements of Credit Enhancement Agreements and regardless
of whether such Subsidiary is an issuer of securities; provided that such Person is not an obligor with respect to any
Indebtedness of Parent, the Borrower or any Subsidiary Guarantor other than under Credit Enhancement Agreements. As of the RestatementSecond
Amendment Effective Date, the entities specified on Schedule 1.01(b) shall be deemed to satisfy the requirements
of the foregoing definition.

 

    	 	33	 

    	 

    

 

“Securitization
Indebtedness” means (i) Indebtedness of Parent, the Borrower or any of their respective Subsidiaries incurred pursuant
to on-balance sheet Securitizations and (ii) any Indebtedness consisting of advances made to Parent, the Borrower or any of their
respective Subsidiaries based upon securities issued by a Securitization Entity pursuant to a Securitization and acquired or retained
by Parent, the Borrower or any of their respective Subsidiaries.

 

“Security
Agreement” means the Pledge and Security Agreement executed by Parent, the Borrower and each Subsidiary Guarantor dated
as of February 15, 2013, as it may be amended, restated, supplemented or otherwise modified from time to time.

 

“Security
Documents” means the Security Agreement, the Intellectual Property Security Agreements and all other instruments, documents
and agreements delivered by any Loan Party pursuant to this Agreement or any of the other Loan Documents in order to grant to
the Collateral Agent, for the benefit of Secured Parties, a First Priority Lien on the Collateral as security for the Obligations.

 

“Series”
has the meaning specified in Section 2.22.

 

“Servicing”
means loan servicing, sub-servicing rights, special servicing rights and master servicing rights and obligations including one
or more of the following functions (or a portion thereof): (a) the administration and collection of payments for the reduction
of principal and/or the application of interest on a loan (including for the avoidance of doubt, administering any loan modification
and other loss mitigation efforts); (b) the collection of payments on account of Taxes and insurance; (c) the remittance of appropriate
portions of collected payments; (d) the provision of full escrow administration; (e) the right to receive fees and other compensation
and any ancillary fees arising from or connected to the assets serviced, earnings and other benefits of the related accounts and,
in each case, all rights, powers and privileges incident to any of the foregoing, and expressly includes the right to enter into
arrangements with third Person that generate ancillary fees and benefits with respect to the serviced assets (whether such assets
are serviced as primary servicer, sub-servicer, special servicer and/or master servicer); (f) the realization on the security
for a loan (and the administration of any related REO Assets); and (g) any other obligation imposed on a servicer pursuant to
a Servicing Agreement.

 

“Servicing
Advance Facility” means any funding arrangement with lenders collateralized in whole or in part by Servicing Advances
under which advances are made to the Borrower or any of its Subsidiaries based on such collateral.

 

“Servicing
Advances” means advances made by Parent, the Borrower or any of their respective Subsidiaries in its capacity as servicer
of any mortgage-related receivables to fund principal, interest, escrow, foreclosure, insurance, tax or other payments or advances
when the borrower on the underlying receivable is delinquent in making payments on such receivable; to enforce remedies, manage
and liquidate REO Assets; or that Parent, the Borrower or any of their respective Subsidiaries otherwise advances in its capacity
as servicer pursuant to any Servicing Agreement.

 

“Servicing
Agreements” means any servicing agreements (including whole loan servicing agreements for portfolios of whole mortgage
loans), pooling and servicing agreements, interim servicing agreements and other servicing agreements, and any other agreement
governing the rights, duties and obligations of Parent, the Borrower or any of their respective Subsidiaries, including the Fannie
Mae and Freddie Mac servicing guide, as a servicer, under such servicing agreements (including for the avoidance of doubt, any
agreements related to primary servicing, sub-servicing, special servicing and master servicing).

 

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

 

    	 	34	 

    	 

    

 

“Solvency
Certificate” means a Solvency Certificate of the chief financial officer of Parent substantially in the form of Exhibit
G-2.

 

“Solvent”
means, with respect to any Loan Party, that as of the date of determination, both (i) (a) the sum of such Loan Party’s debt
(including contingent liabilities) does not exceed the present fair saleable value of such Loan Party’s present assets;
(b) such Loan Party’s capital is not unreasonably small in relation to its business as contemplated on the RestatementSecond
Amendment Effective Date or with respect to any transaction contemplated to be undertaken after the RestatementSecond
Amendment Effective Date; and (c) such Person has not incurred and does not intend to incur, or believe (nor should
it reasonably believe) that it shall incur, debts beyond its ability to pay such debts as they become due (whether at maturity
or otherwise); and (ii) such Person is “solvent” within the meaning given that term and similar terms under the Bankruptcy
Code and applicable laws relating to fraudulent transfers and conveyances. For purposes of this definition, the amount of any
contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing
at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of
whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5).

 

“Specified
Deferred Servicing Fees” means the right to payment, whether now or hereafter acquired or created, of deferred fees
payable to Parent, the Borrower and their respective Subsidiaries under each of the Servicing Agreements either (a) identified
on Schedule 1.01(e)(A) or (b) pursuant to which any of Parent, the Borrower and their respective Subsidiaries has provided
Servicing for any entity and/or transaction identified under the heading “Investor Name” set forth on Schedule
1.01(e)(B), as each such schedule may be updated from time to time in accordance with Section 5.01(m); provided, however,
that “Specified Deferred Servicing Fees” shall not include any rights to repayment of Servicing Advances.

 

“Specified
Government Entities” means the Federal Housing Administration, Veterans Administration, Ginnie Mae, Fannie Mae, Freddie
Mac or other similar governmental agencies or government sponsored programs.

 

“Specified
Loan Value” means (ai)
the fair value of all receivables evidencing loans made to unaffiliated third parties held by Parent and its Subsidiaries on a
consolidated basis less (bii)
the aggregate outstanding amount of Indebtedness under any repurchase agreement or other financing agreement that is secured by
and attributable to such loans.

 

“Specified
MSR Value” means the sum of (i)(A) the value of all MSRs of Parent, the Borrower and their respective Subsidiaries that
are pledged pursuant to an MSR Facility, less (B) the aggregate outstanding amounts under such MSR Facility and (ii) the value
of all Specified MSRs of Parent, the Borrower and their respective Subsidiaries, in each case as such value is determined by an
independent third party valuation firm, such as the Mortgage Industry Advisory Corporation or a comparable firm reasonably acceptable
to the Administrative Agent. For the avoidance of doubt, “Specified MSR Value” shall not include the value of any
Specified Deferred Servicing Fees.

 

“Specified
MSRs” means the right to payments owed to Parent, the Borrower and their respective Subsidiaries, whether now or hereafter
acquired or created, under each of the Servicing Agreements either (a) identified on Schedule 1.01(e)(A) or (b) pursuant
to which any of Parent, the Borrower and their respective Subsidiaries provides Servicing for any entity and/or transaction identified
under the heading “Investor Name” set forth on Schedule 1.01(e)(B), as each such schedule may be updated from
time to time in accordance with Section 5.01(m); provided, however, that “Specified MSRs” shall not
include any rights to repayment of Servicing Advances.

 

“Specified
Net Servicing Advances” means the amount of (i) the sum of (A) the book value of all Servicing Advances (including,
but not limited to, all Unencumbered Servicing Advances) and (B) all deferred servicing fees that are pledged pursuant to any
Servicing Advance Facility, less (ii) the aggregate outstanding amounts under any Servicing Advance Facility.

 

“Subordinated
Indebtedness” means any unsecured Junior Indebtedness of Parent or the Borrower the payment of principal and interest
of which and other obligations of Parent or the Borrower in respect thereof are subordinated to the prior payment in full of the
Obligations on terms and conditions satisfactory to the Administrative Agent.

 

    	 	35	 

    	 

    

 

“Subsidiary”
means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture or other
business entity of which more than 50.0% of the total voting power of shares 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, managers, 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 that Person or one or more of the other Subsidiaries of
that Person or a combination thereof; provided that in determining the percentage of ownership interests of any Person
controlled by another Person, no ownership interest in the nature of a “qualifying share” of the former Person shall
be deemed to be outstanding and provided, further that the term “Subsidiary”
shall not include any subsidiary of the Borrower that would not be a subsidiary if it were not a Variable Interest Entity.

 

“Subsidiary
Guarantor” means (i) each Material Subsidiary of Parent or the Borrower; provided that an Excluded Subsidiary
shall not be required to be a Subsidiary Guarantor and (ii) each Designated Subsidiary of Parent or the Borrower.

 

“Swap
Obligation” has the meaning specified in the definition of “Excluded Swap Obligations”.

 

“Syndication
Agent” means Barclays, in its capacity as syndication agent, together with its permitted successors in such capacity.

 

“Tax”
means any present or future tax, levy, impost, duty, assessment, charge, fee, deduction or withholding of any nature and whatever
called, by whomsoever, on whomsoever and wherever imposed, levied, collected, withheld or assessed, and any related interest,
penalties and additions to tax.

 

“Terminated
Lender” has the meaning specified in Section 2.21.

 

“Term
B-1 Lender” means a Lender holding Term B-1 Loans.

 

“Term
B-1 Term Loans” means the Extended Term Loans and the Additional Term B-1 Loan.

 

“Term
B-1 Loan Exposure” means, with respect to any Lender, as of any date of determination, the outstanding principal amount
of the Term B-1 Loans of such Lender.

 

“Term
Exposure” means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the
Loans of such Lender.

 

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

 

“Total
Secured LTV Ratio” means the loan-to-value ratio as of the last day of any Fiscal Quarter of (i) the sum of (A) the
aggregate principal amount of the Loans then outstanding, plus (B) the aggregate principal amount of Junior Indebtedness in the
form of Second Lien Indebtedness then outstanding, to (ii) the sum of :

 

(A)
Specified Net Servicing Advances, plus

 

(B)
Specified Deferred Servicing Fees that are subject to a valid and perfected First Priority Lien in favor of the Collateral Agent
for the benefit of the Lenders, plus

 

(C)
Specified MSR Value of (ix)
all Specified MSRs that are subject to a valid and perfected First Priority Lien in favor of the Collateral Agent for the benefit
of the Lenders and (iiy)
other MSRs to the extent provided in clause (i) of the definition of Specified MSR Value, plus

 

    	 	36	 

    	 

    

 

(D)
the greater of zero and the result of (x) all unrestricted Cash and Cash Equivalents that are subject to a valid and perfected
First Priority Lien in favor of the Collateral Agent for the benefit of the Lenders, minus (y) $50,000,000, plus

 

(E)
Advance Facility Reserves, plus

 

(F)
Specified Loan Value, plus

 

(G)
without duplication of clause (D), the fair value of marketable securities held by Parent and its Subsidiaries that are subject
to a valid and perfected First Priority Lien in favor of the Collateral Agent for the benefit of the Lenders as of the last day
of the most recently ended Fiscal Quarter for which financial statements have been delivered to the Lenders pursuant to Section
5.01(b) or (c)

 

;
provided that the foregoing calculations in clause (ii) shall not include (x) any assets that have a negative value and
(y) any Excess Servicing Strips.

 

For
the avoidance of doubt, (a) no acknowledgment shall be required
from Ginnie Mae and (b) the Specified MSR Value in clause
(C)(x) shall only include rights to payment under those
Servicing Agreements for which an acknowledgement agreement from the relevant Specified Government Entity (other than with respect
to Ginnie Mae) of the type set forth in Section 5.15(c) has been obtained.

 

“Transactions”
means, collectively, the transactions to occur on or about the RestatementSecond
Amendment Effective Date pursuant to the Loan Documents, including (a) the Refinancing,
(b) the Exchange Offer Transactions and (cre-naming
of the Extended Term Loans as Term B-1 Loans, (b) the making of the Additional Term B-1 Loan, (c) the making of each of the Initial
Required Payment and the Non-Extending Lenders Payment (each as defined in the Second Amendment) and (d) the payment
of fees and expenses related to clauses (a) and (b)the
foregoing.

 

“Type
of Loan” means (i) a Base Rate Loan or (ii) a Eurodollar Rate Loan.

 

“UCC”
means the Uniform Commercial Code (or any similar or equivalent legislation) as in effect in any applicable jurisdiction.

 

“Unadjusted
Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment. 

 

“Unencumbered
Assets” means, without duplication, the sum of (x) all Unrestricted Cash, (y) all Collateral included in the calculation
of the First Lien LTV Ratio which is subject to a valid and perfected First Priority Lien in favor of the Collateral Agent for
the benefit of the Lenders; provided that the value of MSRs in excess of 20% of the total Unencumbered Assets shall not be included
in the calculation of Unencumbered Assets.

 

“Unencumbered
Coverage Ratio” means the ratio as of the last day of any Fiscal Quarter of (x) Unencumbered Assets to (y) the aggregate
principal amount of the Loans then outstanding. 

 

“Unencumbered
Servicing Advances” means all rights to reimbursement or payment, whether now or hereafter acquired or created, of any
Servicing Advances that do not collateralize or secure any Servicing Advance Facility, and includes, in any event, all rights
to reimbursement or payment of Servicing Advances pursuant to the Servicing Agreements either (a) identified on Schedule 1.01(e)(A)
which are indicated as unencumbered or (b) pursuant to which any of Parent, the Borrower and their respective Subsidiaries
has provided Servicing Advances on behalf of or for the benefit of any entity and/or transaction identified under the heading
“Investor Name” set forth on Schedule 1.01(e)(B) which are labeled as “Unencumbered Advances,”
as such schedule may be updated from time to time in accordance with Section 5.01(m).

 

    	 	37	 

    	 

    

 

“Unrestricted
Cash” means all unrestricted Cash and Cash Equivalents of the Parent and its consolidated Subsidiaries that are
not required to be reserved by such Person in a restricted escrow arrangement or other similarly restricted arrangement pursuant
to a contractual agreement or requirement of law. For purposes of clarification, Cash or Cash Equivalents that are deposited into
an account with respect to which such Person has the sole right of withdrawal of such cash or Cash Equivalents and are available
for use by such Person in its business without restriction shall be considered unrestricted.

 

“Variable
Interest Entity” means any corporation, partnership, limited partnership, limited liability company, limited liability
partnership or other entity that is consolidated under GAAP because the Borrower or a Subsidiary is considered the primary beneficiary
of such entity in accordance with GAAP.

 

“Warehouse
Facility” means any financing arrangement of any kind, including, but not limited to, financing arrangements in the
form of repurchase facilities, loan agreements, note issuance facilities and commercial paper facilities (excluding in all cases,
Securitizations), with a financial institution or other lender or purchaser exclusively to (i) finance or refinance the purchase
or origination by Parent, the Borrower or a Subsidiary of Parent or the Borrower of, provide funding to Parent, the Borrower or
a Subsidiary of Parent or the Borrower through the transfer of, loans, mortgage-related securities and other receivables (and
the related MSR’s) purchased or originated by Parent, the Borrower or any Subsidiary of Parent or the Borrower in the ordinary
course of business, (ii) finance or refinance Servicing Advances; (iii) finance or refinance the REO Assets related to loans and
other mortgage-related receivables purchased or originated by Parent, the Borrower or any Subsidiary of Parent or the Borrower;
or (iv) finance or refinance any Securitization Asset; provided that such purchase, origination or funding is in the ordinary
course of business.

 

“Warehouse
Facility Trusts” means any Person (whether or not a Subsidiary of Parent or the Borrower) established for the purpose
of (a) entering into a Warehouse Facility or (b) issuing notes or other securities in connection with a Warehouse Facility, which
notes and securities are backed by (i) specified loans, mortgage-related securities and other receivables purchased by, and/or
contributed to, such Person from Parent, the Borrower or any Subsidiary of Parent or the Borrower; (ii) specified Servicing Advances
purchased by, and/or contributed to, such Person from Parent, the Borrower or any other Subsidiary of Parent or the Borrower;
or (iii) the carrying of REO Assets related to loans and other receivables purchased by, and/or contributed to, such Person or
any Subsidiary of Parent or the Borrower.

 

“Warehouse
Indebtedness” means Indebtedness in connection with a Warehouse Facility; provided that the amount of any particular
Warehouse Indebtedness as of any date of determination shall be calculated in accordance with GAAP.

 

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

 

“Wholly-Owned
Subsidiary” means, with respect to any Person, any other Person all of the Equity Interest of which (other than (x)
directors’ qualifying shares required by law and (y) shares issued to foreign nationals to the extent required by applicable
law) is owned by such Person directly and/or through other Wholly-Owned Subsidiaries.

 

“Write-Down
and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of
such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule.

 

    	 	38	 

    	 

    

 

Section
1.02 Accounting Terms. Except as otherwise expressly provided herein, all accounting terms not otherwise defined herein
shall have the meanings assigned to them in conformity with GAAP. Financial statements and other information required to be delivered
by Parent or the Borrower to Lenders pursuant to Sections 5.01(a), 5.01(b) and 5.01(c) shall be prepared in accordance with GAAP
as in effect at the time of such preparation; provided that, if the Borrower notifies the Administrative Agent that the
Borrower requests an amendment to any provision hereof to eliminate the effect of a change occurring after the date hereof in
GAAP or in the application thereof 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 shall have become effective until such notice shall have been withdrawn or such provision
amended in accordance with this Agreement. Notwithstanding anything to the contrary in this Agreement or any other Loan Document,
all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred
to herein shall be made without giving effect to any change to Capital Lease accounting rules from those in effect on the Restatement
Effective Date pursuant to Accounting Standards Codification 840 and other lease accounting guidance as in effect on the Restatement
Effective Date.

 

Section
1.03 Interpretation, Etc. Any of the terms defined herein may, unless the context otherwise requires, be used in the singular
or the plural, depending on the reference. References herein to any Article, Section, Schedule or Exhibit shall be to an Article,
a Section, a Schedule or an Exhibit, as the case may be, hereof unless otherwise specifically provided. The use herein of the
word “include” or “including,” when following any general statement, term or matter, shall not be construed
to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar
items or matters, whether or not non-limiting language (such as “without limitation” or “but not limited to”
or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters
that fall within the broadest possible scope of such general statement, term or matter. The word “will” shall be construed
to have the same meaning and effect as the word “shall”; and the words “asset” and “property”
shall be construed as having 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. The terms lease and license shall include sub-lease and sub-license,
as applicable. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms.
Except as otherwise expressly provided herein or therein, any reference in this Agreement or any other Loan Document to any agreement,
document or instrument shall mean such agreement, document or instrument as amended, restated, supplemented or otherwise modified
from time to time, in each case, in accordance with the express terms of this Agreement or such Loan Document.

 

Section
1.04 Effect of this Agreement on the Existing Term Loan and the other Loan Documents. Upon satisfaction (or waiver) of
the conditions precedent to the effectiveness of this Agreement set forth in Restatement Agreement, this Agreement shall be binding
on the Parent, the Borrower, the Subsidiary Guarantors, the Agents, the Lenders and the other parties hereto regardless of the
fact that any may not have signed this Agreement itself, and the Existing Credit Agreement and the provisions thereof shall be
replaced in their entirety by this Agreement and the provisions hereof; provided that for the avoidance of doubt (a) the
Obligations (as defined in the Existing Credit Agreement) of the Borrower and the other Loan Parties under the Existing Credit
Agreement and the other Loan Documents that remain unpaid and outstanding as of the date of this Agreement shall continue to exist
under and be evidenced by this Agreement and the other Loan Documents and (b) the Collateral and the Loan Documents shall continue
to secure, guarantee, support and otherwise benefit the Obligations on the same terms as prior to the effectiveness hereof. Upon
the effectiveness of this Agreement, each Loan Document that was in effect immediately prior to the date of this Agreement shall
continue to be effective on its terms unless otherwise expressly stated herein.

 

    	 	39	 

    	 

    

 

ARTICLE
II

 

THE FACILITY

 

Section
2.01 Term Loan Facility.

 

(a)
Commitments.

 

Each Converting
TermExtending Lender severally agrees
that its ConvertingExtended Term
Loans are hereby converted to a like principal amount of Restatement Effective Date
Termre-named as Term B-1 Loans hereunder on
the RestatementSecond
Amendment Effective Date. All accrued and unpaid interest on the ConvertingExtended Term
Loans to, but not including, the RestatementSecond
Amendment Effective Date shall be payable on the RestatementSecond
Amendment Effective Date, but no amounts under Section 2.16(cd)
shall be payable in connection with such conversionreclassification.

 

Subject
to the terms and conditions hereof, each Lender (other than the Convertingthe
Additional Term Lenders) severallyB-1
Lender agrees to make on the RestatementSecond
Amendment Effective Date a Restatement Effective Datean
Additional Term B-1 Loan to the Borrower in an
amount equal to such Lender’s Pro Rata Share relative to the total amount of Borrowings
specified in the Borrowing Notice, up to the amount of such Lender’s Restatement Effective Date Term Loanthe
Additional Term B-1 Commitment. The Borrower shall prepay the aggregate principal amount of the Non-ConvertingExtending
Term Loans, together with cash on hand, with
a portion of the aggregate net proceeds of such Restatement
Effective DateAdditional Term B-1
Loans, concurrently with the receipt thereof. All accrued and unpaid interest on the
Non-Converting Term Loans to, but not including, the Restatement Effective Date shall be payable on the Restatement Effective
Date, and the Borrower will make any payments required under Section 2.16(c) with respect to the Non-Converting Term Loans in
accordance therewith The Additional Term B-1 Loan shall
be deemed to be, effective as of the Second Amendment Effective Date, and after the making of such Additional Term B-1 Loan (and
the payment of the fee set forth in Section 2.09(a)), a Term B-1 Loan for all purposes of this Agreement.

 

Any
amount borrowed under this Section 2.01(a) and subsequently

 

All
Loans repaid or prepaid may not be reborrowed.
Subject to Sections 2.11(a) and 2.12, all amounts owed hereunder with respect to the Restatement
Effective Date Term Loans shall be paid in full no later than the Restatement Effective Date Term Loan Maturity Date. Each Lender’s
Restatement Effective Date Term Loan Commitment shall terminate immediately and without further action to the extent not drawn
on the Restatement Effective Date. The aggregate amount of Restatement Effective Date Term Loans requested in the Borrowing Notice
on the Restatement Effective Date shall not exceed the aggregate amount of Restatement Effective Date Term Loan Commitments.

 

(b)
Borrowing Mechanics.

 

(i)
 The Borrower shall deliver to the Administrative
Agent a fully executed Borrowing Notice no later than 11:00 a.m. (New York City time) (i) with respect to Base Rate Loans, one
(1) Business Day, and (ii) with respect to Eurodollar Rate Loans, three (3) Business Days, prior to the RestatementSecond
Amendment Effective Date or the Increased Amount Date, as applicable.
Promptly upon receipt by the Administrative Agent of such Borrowing Notice, the Administrative Agent shall notify each Lender
of the proposed Borrowing.

 

Each

 

(ii)
The Additional Term B-1 Lender shall make
its Restatement Effective Datethe
Additional Term B-1 Loan available to the Administrative
Agent in an amount based on its Pro Rata Share of Borrowings under the Borrowing Notice in accordance with Section 2.02 not later
than 12:00 p.m. (New York City time) on the RestatementSecond
Amendment Effective Date, by wire transfer of same day funds in Dollars, at the Principal Office designated by the
Administrative Agent. Upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall
make the proceeds of the Restatement Effective Date Term LoansAdditional
Term B-1 Loan available to the Borrower on the RestatementSecond
Amendment Effective Date by causing an amount of same day funds in Dollars equal to the proceeds of all such Loans
received by the Administrative Agent from Lenders to be credited to the account of the Borrower
at the Principal Office designated by the Administrative Agent or to such other account as may be designated in writing to the
Administrative Agent by the Borrower.

 

    	 	40	 

    	 

    

 

Each
New Term Loan Lender shall make its New Term Loan available to the Administrative Agent in an amount based on its Pro Rata Share
of Borrowings under the Borrowing Notice in accordance with Section 2.02 not later than 12:00 p.m. (New York City time) on the
applicable Increased Amount Date, by wire transfer of same day funds in Dollars, at the Principal Office designated by the Administrative
Agent. Upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds
of the New Term Loans available to the Borrower on such Increased Amount Date by causing an amount of same day funds in Dollars
equal to the proceeds of all such Loans received by the Administrative Agent from the New Term Loan Lenders
to be credited to the account of the Borrower at the Principal Office designated by the Administrative Agent or to such other
account as may be designated in writing to the Administrative Agent by the Borrower.

 

Section
2.02 Pro Rata Shares; Availability of Funds.

 

(a)
Pro Rata Shares. All Loans shall be made by Lenders simultaneously and proportionately to their respective Pro Rata Shares,
it being understood that no Lender shall be responsible for any default by any other Lender in such other Lender’s obligation
to make a Loan requested hereunder nor shall any Commitment of any Lender be increased or decreased as a result of a default by
any other Lender in such other Lender’s obligation to make a Loan requested hereunder.

 

(b)
Availability of Funds. Unless the Administrative Agent shall have been notified by anythe
Additional Term B-1 Lender prior to the RestatementSecond
Amendment Effective Date or Increased Amount Date, as applicable,
that such Lender does not intend to make available to the Administrative Agent the amount of such Lender’s Additional
Term B-1 Loan requested on such date, the Administrative Agent may assume that such Lender has made such amount available
to the Administrative Agent on the RestatementSecond
Amendment Effective Date or Increased Amount Date, as applicable,
and the Administrative Agent may, in its sole discretion, but shall not be obligated to, make available to the Borrower a corresponding
amount on such date. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender, the
Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender together with interest
thereon, for each day from the RestatementSecond
Amendment Effective Date or Increased Amount Date, as applicable,
until the date such amount is paid to the Administrative Agent, at the customary rate set by the Administrative Agent for the
correction of errors among banks for three (3) Business Days and thereafter at the Base Rate. If such Lender does not pay such
corresponding amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly
notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent together with
interest thereon, for each day from the RestatementSecond
Amendment Effective Date or Increased Amount Date, as applicable, until
the date such amount is paid to the Administrative Agent, at the rate payable hereunder for Base Rate Loans for
such Class of Loans. If the Borrower and such Lender
shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly
remit to the Borrower the amount of such interest paid by the Borrower for such period. Nothing in this Section 2.02(b)
shall be deemed to relieve any Lender from its obligation to fulfill its Commitment hereunder or to prejudice any rights that
the Borrower may have against any Lender as a result of any default by such Lender hereunder.

 

Section
2.03 Use of Proceeds. The proceeds of the Loans made on the Restatement Effective Date shall be applied by the Borrower
(a) to prepay in full all of the Existing Term Loans (as
defined in the Existing Credit Agreement) and (b) to pay fees and expenses incurred in connection with the Transactions.
No portion of the proceeds of any Loan shall be used in any manner that causes or might cause such Loan or the application of
such proceeds to violate Regulation T, Regulation U or Regulation X or any other regulation thereof or to violate the Exchange
Act. The proceeds of the Additional Term B-1 Loan made on the Second
Amendment Effective Date, together with cash on hand, shall be used by the Borrower to repay the Non-Extending Term Loans.

 

Section
2.04 Evidence of Debt; Register; Lenders’ Books and Records; Notes.

 

(a)
Lenders’ Evidence of Debt. Each Lender shall maintain on its internal records an account or accounts evidencing the
Obligations of the Borrower to such Lender, including the amounts of the Loans made by it and each repayment and prepayment in
respect thereof. Any such recordation shall be conclusive and binding on the Borrower, absent manifest error; provided that
the failure to make any such recordation, or any error in such recordation, shall not affect the Borrower’s Obligations
in respect of any applicable Loans; and provided, further, that in the event of any inconsistency between the Register
and any Lender’s records, the recordations in the Register shall govern.

 

    	 	41	 

    	 

    

 

(b)
Register. The Administrative Agent (or its agent or sub-agent appointed by it) shall maintain at its Principal Office a
register for the recordation of the names and addresses of Lenders and the principal and interest amounts of Loans of each Lender
from time to time (the “Register”). The Register shall be available for inspection by the Borrower or any Lender
(with respect to any entry relating to such Lender’s Loans) at any reasonable time and from time to time upon reasonable
prior notice. The Administrative Agent shall record, or shall cause to be recorded, in the Register the Loans in accordance with
the provisions of Section 10.06(h), and each repayment or prepayment in respect of the principal amount of the Loans (and related
interest amounts), and any such recordation shall be conclusive and binding on the Borrower and each Lender, absent manifest error;
provided that failure to make any such recordation, or any error in such recordation, shall not affect the Borrower’s
Obligations in respect of any Loan. The Borrower hereby designates the Administrative Agent to serve as the Borrower’s non-fiduciary
agent solely for purposes of maintaining the Register as provided in this Section 2.04, and the Borrower hereby agrees that, to
the extent the Administrative Agent serves in such capacity, the Administrative Agent and its officers, directors, employees,
agents, sub-agents and affiliates shall constitute “Indemnitees.”

 

(c)
Notes. If so requested by any Lender by written notice to the Borrower (with a copy to the Administrative Agent) at least
two Business Days prior to the Restatement Effective Date, or at any time thereafter, the Borrower shall execute and deliver to
such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender pursuant
to Section 10.06) on the Restatement Effective Date (or, if such notice is delivered after the Restatement Effective Date, promptly
after the Borrower’s receipt of such notice) a Note or Notes to evidence such Lender’s Loan.

 

Section
2.05 Interest.

 

(a)
Except as otherwise set forth herein, each Restatement Effective Date Term B-1
Loan shall bear interest on the unpaid principal amount thereof from the date made through repayment (whether by acceleration
or otherwise) thereof as follows:

 

	 	(i)	if
    a Base Rate Loan, at the Base Rate plus the Applicable Margin; or
	 	 	 
	 	(ii)	if
    a Eurodollar Rate Loan, at the Eurodollar Rate plus the Applicable Margin.

 

(b)
The basis for determining the rate of interest with respect to any Loan, and the Interest Period with respect to any Eurodollar
Rate Loan, shall be selected by the Borrower and notified to the Administrative Agent and Lenders pursuant to the Borrowing Notice
or Conversion/ Continuation Notice, as the case may be. If on any day a Loan is outstanding with respect to which a Borrowing
Notice or Conversion/Continuation Notice has not been delivered to the Administrative Agent in accordance with the terms hereof
specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.

 

(c)
In the event the Borrower fails to specify between a Base Rate Loan or a Eurodollar Rate Loan in the Borrowing Notice or Conversion/Continuation
Notice, such Loan (if outstanding as a Eurodollar Rate Loan) shall be automatically converted into a Base Rate Loan on the last
day of the then-current Interest Period for such Loan (or if outstanding as a Base Rate Loan shall remain as, or (if not then
outstanding) shall be made as, a Base Rate Loan). In the event the Borrower fails to specify an Interest Period for any Eurodollar
Rate Loan in the Borrowing Notice or Conversion/Continuation Notice, the Borrower shall be deemed to have selected an Interest
Period of one month. As soon as practicable after 10:00 a.m. (New York City time) on each Interest Rate Determination Date, the
Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon
all parties) the interest rate that shall apply to the Eurodollar Rate Loans for which an interest rate is then being determined
for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to
the Borrower and each Lender.

 

    	 	42	 

    	 

    

 

(d)
Interest payable pursuant to Section 2.05(a) shall be computed for Base Rate Loans (other than Base Rate Loans calculated pursuant
to clause (iii) of the definition of “Base Rate”) on the basis of a 365-day year (or a 366-day year, as applicable)
and for Eurodollar Rate Loans and Base Rate Loans calculated pursuant to clause (iii) of the definition of “Base Rate”
on the basis of a 360-day year for the actual number of days elapsed in the period during which it accrues. In computing interest
on any Loan, the last Payment Date with respect to such Loan or, with respect to a Base Rate Loan being converted from a Eurodollar
Rate Loan, the date of conversion of such Eurodollar Rate Loan to such Base Rate Loan, as the case may be, shall be included,
and the date of payment of such Loan or the expiration date of an Interest Period applicable to such Loan or, with respect to
a Base Rate Loan being converted to a Eurodollar Rate Loan, the date of conversion of such Base Rate Loan to such Eurodollar Rate
Loan, as the case may be, shall be excluded; provided that if a Loan is repaid on the same day on which it is made, one
day’s interest shall be paid on that Loan.

 

(e)
Except as otherwise set forth herein, interest on each Loan (i) shall accrue on a daily basis and shall be payable in arrears
on each Payment Date with respect to interest accrued on and to each such Payment Date; (ii) shall accrue on a daily basis and
shall be payable in arrears upon any prepayment of such Loan, whether voluntary or mandatory, to the extent accrued on the amount
being prepaid; and (iii) shall accrue on a daily basis and shall be payable in arrears at maturity of such Loan, including final
maturity of such Loan; provided that with respect to any voluntary prepayment of a Base Rate Loan, accrued interest shall
instead be payable on the applicable Payment Date.

 

Section
2.06 Conversion/Continuation.

 

(a)
Subject to Section 2.16 and so long as no Default or Event of Default shall have occurred and then be Continuing, the Borrower
shall have the option:

 

(i)
to convert at any time all or any part of the Loans equal to $5,000,000 and integral multiples of $1,000,000 in excess of that
amount from one Type of Loan to another Type of Loan; provided that a Eurodollar Rate Loan may only be converted on the
expiration of the Interest Period applicable to such Eurodollar Rate Loan unless the Borrower shall pay all amounts due under
Section 2.16(cd)
in connection with any such conversion; or

 

(ii)
upon the expiration of any Interest Period applicable to any Eurodollar Rate Loans, to continue all or any portion of such Loan
equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a Eurodollar Rate Loans.

 

(b)
Upon the occurrence and during the continuance of an Event of Default, each outstanding Eurodollar Rate Loan shall be converted
to a Base Rate Loan upon the expiration of the applicable Interest Period.

 

(c)
The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 10:00 a.m. (New York City
time) at least three (3) Business Days in advance of the conversion to or continuation of Eurodollar Rate Loans or of any conversion
of Eurodollar Rate Loans to Base Rate Loans. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion
to, or continuation of, any Eurodollar Rate Loans shall be irrevocable on and after the related Interest Rate Determination Date,
and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

 

Section
2.07 Default Interest. Upon the occurrence and during the continuance of an Event of Default under Section 8.01(a), (h)
or (i), the principal amount of all Loans outstanding and, to the extent permitted by applicable law, any interest payments on
the Loans or any fees or other amounts owed hereunder that, in either case, are then due and owing, shall thereafter bear interest
(including post-petition interest in any proceeding under the Bankruptcy Code or other applicable bankruptcy laws or any other
act or law pertaining to insolvency or debtor relief, whether state, federal or foreign) payable on demand by the Administrative
Agent at a rate (the “Default Rate”) that is 2.00% per annum in excess of the interest rate otherwise payable
hereunder with respect to the applicable Loans; provided that in the case of Eurodollar Rate Loans, upon the expiration
of the Interest Period in effect at the time any such increase in interest rate is effective such Eurodollar Rate Loans shall
thereupon become Base Rate Loans and shall thereafter bear interest payable upon demand at a rate which is 2.00% per annum in
excess of the interest rate otherwise payable hereunder for Base Rate Loans. Payment or acceptance of the increased rates of interest
provided for in this Section 2.07 is not a permitted alternative to timely payment and shall not constitute a waiver of any such
Event of Default or otherwise prejudice or limit any rights or remedies of the Administrative Agent or any Lender.

 

    	 	43	 

    	 

    

 

Section
2.08 Fees and Prepayment Premium.

 

(a)
On the RestatementSecond
Amendment Effective Date, the Borrower shall pay to the Lenders upfront fees in amounts
determined by the Arrangers not to exceedAdditional
Term B-1 Lender an upfront fee in an amount, in the aggregate, 2.00equal
to 2.50% of the total amount of the Restatement Effective DateAdditional
Term LoansB-1
Loan on the RestatementSecond
Amendment Effective Date. Such upfront fees will be in all respects fully earned, due and payable on the RestatementSecond
Amendment Effective Date and non-refundable and non-creditable thereafter.

 

(b)
The Borrower agrees to pay the Agents and Arrangers such fees in the amounts and at the times separately agreed upon.

 

(c)
In the event that all or any portion of the Term B-1 Loans are (i) repaid through voluntary prepayments or mandatory prepayments
pursuant to Section 2.12(a), each Lender holding Term B-1 Loans shall be paid an amount equal to 2.0% of the amount of such Term
B-1 Loans repaid, if such repayment is effected prior to the date that is twenty-four months after the Second Amendment Effective
Date; provided
that, for the avoidance of doubt, no such prepayment premium shall be payable in connection with the prepayments made pursuant
to the Second Amendment on the Second Amendment Effective Date.

 

Section
2.09 Payments.

 

The principal amounts of the Restatement Effective Date Term B-1
Loans shall be repaid in consecutive quarterly installments (each, an “Installment”)
on each Payment Date, commencing March 31, 2017,2020,
based on an amortization schedule, as set forth in Schedule 2.09 as such Schedule
may be supplemented or increased from time to time pursuant to a Joinder Agreement to reflect an increase in the size of the Restatement
Effective Date Term Loans pursuant to Section 2.22, and the balance of the Restatement Effective Date2.09,
and the balance of the Term B-1 Loans shall be
repaid at the Restatement Effective Date Term Loan Maturity Date; provided
that, except as set forth above, in the event any New Term Loans are made, such New Term Loans shall be repaid
after the applicable Increased Amount Date based on an amortization schedule, if any, determined by the Borrower and the applicable
holders of the New Term LoansMaturity Date.

 

Notwithstanding
the foregoing, (x) such amounts owed hereunder shall be reduced in connection with any voluntary or mandatory prepayments of the
Loans, in accordance with Sections 2.11, 2.12 and 2.13, as applicable; and (y) the Loans, together with all other amounts owed
hereunder with respect thereto, shall, in any event, be paid in full no later than the applicable
Maturity Date.

 

Section
2.10 [Reserved].

 

Section 2.11 Voluntary Prepayments.

 

(a)
Subject to Section 2.11(c), the Borrower may, upon written notice to the Administrative Agent (a “Prepayment Notice”),
at any time and from time to time voluntarily prepay the Loans in whole or in part without premium or penalty subject however
to any breakage costs due in accordance with Section 2.16(cd);
provided that the Borrower may prepay any such Loans on any Business Day in whole or in part, in an aggregate minimum amount
of $5,000,000 and integral multiples of $1,000,000 in excess of that amount.

 

(b)
All such prepayments shall be made (i) upon not less than one Business Day’s prior written notice in the case of Base Rate
Loans; and (ii) upon not less than three (3) Business Days’ prior written notice (or such shorter period as agreed by the
Administrative Agent) in the case of Eurodollar Rate Loans, in each case in the form of a written Prepayment Notice and given
to the Administrative Agent by 12:00 noon (New York City time) on the date required (and the Administrative Agent shall promptly
transmit to each Lender such Prepayment Notice and the amount of each Lender’s ratable share of such prepayment by telefacsimile
or telephone). Upon the giving of any such Prepayment Notice, the principal amount of the Loans specified in such notice shall
become due and payable on the prepayment date specified therein. Any such voluntary prepayment shall be applied as specified in
Section 2.13.

 

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(c)
In the event that all or any portion of the Restatement Effective Date Term Loans are (i) repaid through voluntary or mandatory
repayments from the incurrence of Indebtedness having a lower effective yield (whether by reason of the interest rate applicable
to such Indebtedness, the application of a Eurodollar or Base Rate “floor” or by reason of the issuance of such Indebtedness
at a discount) than the Restatement Effective Date Term Loans or (ii) repriced pursuant to an amendment pursuant to which the
effective yield (whether by reason of the interest rate applicable to such Indebtedness, the application of a Eurodollar or Base
Rate “floor” or by reason of the issuance of such Indebtedness at a discount or with upfront fees payable to all lenders
but excluding customary arranger and underwriting fees) is less than the effective yield applicable to the Restatement Effective
Date Term Loans on the date immediately prior to such amendment, each Lender holding Restatement Effective Date Term Loans shall
be paid an amount equal to 1.0% of the amount of such Restatement Effective Date Term Loans repaid or repriced, if such repayment
or repricing is effected prior to the date that is six months after the Restatement Effective Date.

 

Section
2.12 Mandatory Repayment.

 

(a)
Issuance or Incurrence of Debt. On the date of receipt by Parent, the Borrower or any of their respective Subsidiaries
of any Net Cash Proceeds from the issuance or incurrence of any Indebtedness of Parent, the Borrower or any of their respective
Subsidiaries (other than with respect to any Indebtedness permitted to be incurred pursuant to Section 6.01), the Borrower shall
prepay the Loans in an aggregate amount equal to 100% of such Net Cash Proceeds.

 

(b)
Asset Sales. No later than the first Business Day following the date of receipt by Parent, the Borrower or any of their
respective Subsidiaries of any Net Cash Proceeds in excess of $1,000,000 in respect of any Asset Sale (other than Asset Sales
permitted by Section 6.08 (h), (i) or (k)), the Borrower shall give written notice to the Administrative Agent of such Asset Sale
and the Borrower shall offer to prepay the Loans in an aggregate
amount equal to such 100% of the amount of such Net Cash Proceeds in respect of such Asset Sale no later than the fourth Business
Day following the date of receipt of such Net Cash Proceeds; provided that (i) so long as no Event of Default shall have
occurred and be Continuing at the time of receipt of such proceeds and (ii) upon written notice to the Administrative Agent, directly
or through one or more of its Subsidiaries, the Borrower shall have the option to invest such Net Cash Proceeds within two hundred
seventy (270) days of receipt thereof in assets of the general type owned by or used in the business of the Borrower and its Subsidiaries
(provided that if, prior to the expiration of such two hundred seventy (270) day period, the Borrower, directly or through
its Subsidiaries, shall have entered into a binding agreement providing for such investment on or prior to the expiration of an
additional ninety (90) day period, such two hundred seventy (270) day period shall be extended to the date provided for such investment
in such binding agreement). Notwithstanding the foregoing, any Lender may elect, by notice to the Administrative Agent by
telephone (confirmed by facsimile) at least two Business Days prior to the prepayment date, to decline all or
any portion of any(but not less than all) of the
prepayment of its Loans pursuant to this Section 2.11(b), in which case the aggregate amount of the prepayment that would have
been applied to prepay Loans but was so declined shall be retained by the Borrower.

 

(c)
Insurance/Condemnation Proceeds. No later than the first Business Day following the date of receipt by Parent, the Borrower
or any of their respective Subsidiaries, or the Administrative Agent as loss payee, of any Net Insurance/Condemnation Proceeds,
the Borrower shall prepay the Loans in an aggregate amount equal to such Net Insurance/Condemnation Proceeds; provided
that, so long as no Event of Default shall have occurred and be continuing, the Borrower shall have the option, directly or through
one or more of its Subsidiaries to use such Net Insurance/Condemnation Proceeds within two hundred seventy (270) days of receipt
thereof for repair of any damage related thereto or replacement of the affected assets or for investment in assets of the general
type owned by or used in the business of the Borrower and its Subsidiaries (provided that if, prior to the expiration of
such two hundred seventy (270) day period, the Borrower, directly or through its Subsidiaries, shall have entered into a binding
agreement providing for such investment on or prior to the expiration of an additional ninety (90) day period, such two hundred
seventy (270) day period shall be extended to the date provided for such investment in such binding agreement).

 

    	 	45	 

    	 

    

 

(d)
Consolidated Excess Cash Flow. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing
with the Fiscal Year ending December 31, 2017)2020),
the Borrower shall not be required to make any prepayments for such Fiscal Year under this Section 2.12(d) to
the extent that as
of the last day of the most recently ended Fiscal Year, the First Lien LTV Ratio (determined for any such period by reference
to the Compliance Certificate delivered pursuant to Section 5.01(e) calculating the First Lien LTV Ratio as of the last day of
such Fiscal Year) shall be less than 20%;
provided that
if, as
of the last day of the most recently ended Fiscal Year, the First Lien LTV Ratio (determined for any such period by reference
to the Compliance Certificate delivered pursuant to Section 5.01(e) calculating the First Lien LTV Ratio as of the last day of
such Fiscal Year) shall be greater than or equal to 20% and less than 35%,
the Borrower shall, no later than ninety days after the end of such Fiscal Year, prepay the Loans in an aggregate amount equal
to (i) 25% of such Consolidated Excess Cash Flow, minus (ii) voluntary repayments of the Loans pursuant to Section 2.11
during such Fiscal Year or after such Fiscal Year end and prior to the time such prepayment pursuant to this clause is due other
than prepayments funded with the proceeds of Indebtedness, Equity Interests or Asset Sales; provided,
further that if, as of the last day of the most recently ended Fiscal Year, the First Lien LTV Ratio (determined for
any such period by reference to the Compliance Certificate delivered pursuant to Section 5.01(e) calculating the First Lien LTV
Ratio as of the last day of such Fiscal Year) shall be greater than or equal to 35%, the Borrower shall be required to make the
prepayments and/or reductions otherwise required hereby in an amount equal to (i) 50% of such Consolidated Excess Cash Flow, minus
(ii) voluntary repayments of the Loans pursuant to Section 2.11 during such Fiscal Year other than prepayments funded with
the proceeds of Indebtedness, Equity Interests or Asset Sales; provided,
further that if, as of the last day of the most recently
ended Fiscal Year, the First Lien LTV Ratio (determined for any such period by reference to the Compliance Certificate delivered
pursuant to Section 5.01(e) calculating the First Lien LTV Ratio as of the last day of such Fiscal Year) shall be less than 20%,
the Borrower shall not be required to make any prepayments for such Fiscal Year under this Section 2.12(d).

 

(e)
Repayment Certificate. Concurrently with any repayment of the Loans pursuant to Section 2.12(a), (b), (c) or (d), the Borrower
shall deliver to the Administrative Agent a certificate of an Authorized Officer demonstrating the calculation of the amount of
the applicable net proceeds, payments or excess cash, as applicable. In the event that the Borrower shall subsequently determine
that the actual amount received exceeded the amount set forth in such certificate, the Borrower shall promptly make an additional
prepayment of the Loans in an amount equal to such excess, and the Borrower shall concurrently therewith deliver to the Administrative
Agent a certificate of an Authorized Officer demonstrating the determination of such excess.

 

Section
2.13 Application of Prepayments.

 

(a)
Application of Voluntary Prepayments. Any prepayment of
any Loan pursuant to Section 2.11(a) orshall
be applied, to prepay, at the option of the Borrower, any Class or Classes of Loans on a pro rata basis (in accordance with the
respective outstanding principal amounts thereof) and further applied to the remaining scheduled quarterly installments of principal
of such Class or Classes of Loans, as described in Section 2.09.

 

(b)
Application of Mandatory Prepayments. Any prepayment of any Loan pursuant to Section 2.12
shall be applied as follows:

 

first,
to prepay Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof) and further applied
to the remaining scheduled Installmentsquarterly
installments of principal of the Loans (x),
as directed by the Borrower in the case of Section 2.11(a) (or, if no such direction
is given, then on a pro rata basis) and (y)described
in Section 2.09 in direct order of maturity, in the case of Section 2.12;

 

second,
to pay any accrued and unpaid interest and any other amounts in respect of the Loans outstanding on a pro rata basis (in accordance
with the respective outstanding principal amounts thereof); and

 

third,
to satisfy any other outstanding Obligations of the Borrower on a pro rata basis hereunder by the amount of such prepayment remaining.

 

    	 	46	 

    	 

    

 

(c)
(b) Application
of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans. Any prepayment of the Loans shall be applied first to
Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes
the amount of any payments required to be made by the Borrower pursuant to Section 2.16(cd).

 

Section
2.14 General Provisions Regarding Payments.

 

(a) All payments by the Borrower of principal, interest, fees and other
Obligations shall be made in Dollars in same day funds, without defense, setoff or counterclaim, free of any restriction or
condition, and delivered to the Administrative Agent not later than 2:00 p.m. (New York City time) on the date due at the
Principal Office designated by the Administrative Agent for the account of Lenders. For purposes of computing interest and
fees, funds received by the Administrative Agent after that time on such due date shall be deemed to have been paid by the
Borrower on the next succeeding Business Day.

 

(b)
All payments in respect of the principal amount of any Loan (other than a prepayment of a Base Rate Loan prior to the applicable
Maturity Date) shall be accompanied by payment of accrued interest on the principal amount being repaid or prepaid,
and all such payments (and, in any event, any payments in respect of any Loan on a date when interest is due and payable with
respect to such Loan) shall be applied to the payment of interest then due and payable before application to principal.

 

(c)
The Administrative Agent (or its agent or sub-agent appointed by it) shall promptly distribute to each Lender at such address
as such Lender shall indicate in writing, such Lender’s applicable Pro Rata Share of all payments and prepayments of principal
and interest due hereunder, together with all other amounts due thereto, including all fees payable with respect thereto, to the
extent received by the Administrative Agent.

 

(d)
Notwithstanding the foregoing provisions hereof, if any Conversion/Continuation Notice is withdrawn as to any Affected Lender
or if any Affected Lender makes Base Rate Loans in lieu of its Pro Rata Share of any Eurodollar Rate Loans, the Administrative
Agent shall give effect thereto in apportioning payments received thereafter.

 

(e)
Whenever any payment to be made hereunder with respect to any Loan shall be stated to be due on a day that is not a Business Day,
such payment shall be made on the next succeeding Business Day.

 

(f)
The Borrower hereby authorizes the Administrative Agent to charge the Borrower’s accounts with the Administrative Agent
in order to cause timely payment to be made to the Administrative Agent of all principal, interest, fees and expenses due hereunder
(subject to sufficient funds being available in its accounts for that purpose).

 

(g)
The Administrative Agent shall deem any payment by or on behalf of the Borrower hereunder that is not made in same day funds prior
to 2:00 p.m. (New York City time) to be a non-conforming payment. Any such payment shall not be deemed to have been received by
the Administrative Agent until the later of (i) the time such funds become available funds, and (ii) the applicable next Business
Day. The Administrative Agent shall give prompt telephonic notice to the Borrower and each applicable Lender (confirmed in writing)
if any payment is non-conforming. Any non-conforming payment may constitute or become a Default or Event of Default in accordance
with the terms of Section 8.01(a). Interest shall continue to accrue on any principal as to which a non-conforming payment is
made until such funds become available funds (but in no event less than the period from the date of such payment to the next succeeding
applicable Business Day) at the Default Rate from the date such amount was due and payable until the date such amount is paid
in full.

 

(h)
If an Event of Default shall have occurred and be continuing, and the maturity of the Obligations shall have been accelerated
pursuant to Section 8.01, all payments or proceeds received by Agents hereunder in respect of any of the Obligations, shall be
applied in accordance with the application arrangements described in the Security Agreement.

 

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Section
2.15 Ratable Sharing. The Lenders hereby agree among themselves that, if any of them shall, whether by voluntary payment
(other than a voluntary prepayment of Loans made and applied in accordance with the terms hereof), through the exercise of any
right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents
or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or
reduction of a proportion of the aggregate amount of principal, interest, fees and other amounts then due and owing to such Lender
hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) which
is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then
the Lender receiving such proportionately greater payment shall (a) notify the Administrative Agent and each other Lender of the
receipt of such payment and (b) apply a portion of such payment to purchase participations (which it shall be deemed to have purchased
from each seller of a participation simultaneously upon the receipt by such seller of its portion of such payment) in the Aggregate
Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion
to the Aggregate Amounts Due to them; provided that if all or part of such proportionately greater payment received by
such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of the Borrower or otherwise,
those purchases shall be rescinded and the purchase prices paid for such participations shall be returned to such purchasing Lender
ratably to the extent of such recovery, but without interest. The Borrower expressly consents to the foregoing arrangement and
agrees that any holder of a participation so purchased may exercise any and all rights of banker’s lien, set-off or counterclaim
with respect to any and all monies owing by the Borrower to that holder with respect thereto as fully as if that holder were owed
the amount of the participation held by that holder. The provisions of this Section 2.15 shall not be construed to 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 or sale of a participation in any of its Loans or other Obligations owed to
it.

 

Section
2.16 Making or Maintaining Eurodollar Rate Loans.

 

(a)
Inability to Determine Applicable Interest Rate. In the event that the Administrative Agent shall have determined (which
determination shall be final and conclusive and binding upon all parties hereto), on any Interest Rate Determination Date with
respect to any Eurodollar Rate Loans, that by reason of circumstances affecting the London interbank market adequate and fair
means do not exist for ascertaining the interest rate applicable to such Loans on the basis provided for in the definition of
“Eurodollar Rate,” the Administrative Agent shall on such date give notice (by telefacsimile or by telephone confirmed
in writing) to the Borrower and each Lender of such determination, whereupon (i) no Loans may be made as, or converted to, Eurodollar
Rate Loans until such time as the Administrative Agent notifies the Borrower and Lenders that the circumstances giving rise to
such notice no longer exist and (ii) any Borrowing Notice or Conversion/Continuation Notice given by the Borrower with respect
to the Loans in respect of which such determination was made shall be deemed to be rescinded by the Borrower.

 

(b)
Effect of Benchmark Transition Event.

 

(i)
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 LIBO Rate with a Benchmark Replacement. Any such amendment will become effective at 5:00 p.m.
on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all Lenders and
the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment
from Lenders comprising the Required Lenders. Any such amendment with respect to an Early Opt-in Election will become effective
on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required
Lenders accept such amendment. No replacement of LIBO Rate with a Benchmark Replacement pursuant to this Section 2.16(b) occur
prior to the applicable Benchmark Transition Start Date.

 

(ii)
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 to this Agreement.

 

    	 	48	 

    	 

    

 

(iii)
Notices; Standards for Decisions and Determinations. The Administrative Agent will promptly notify the Borrower of (w) 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, (x) the implementation of any Benchmark Replacement, (y) the effectiveness of any Benchmark Replacement
Conforming Changes and (z) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision
or election that may be made by the Administrative Agent or the Lenders pursuant to this Section 2.16(b), including any determination
with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision
to take or refrain from taking any action, will be conclusive and binding absent manifest error and may be made in its or their
sole discretion and without consent from any other party hereto, except, in each case, as expressly required pursuant to this
Section 2.16(b).

 

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

 

(c)
(b) Illegality
or Impracticability of Eurodollar Rate Loans. In the event that on any date any Lender shall have determined (which determination
shall be final and conclusive and binding upon all parties hereto) that the making, maintaining or continuation of its Eurodollar
Rate Loans (i) has become unlawful as a result of compliance by such Lender in good faith with any law, treaty, governmental rule,
regulation, guideline or order (or would conflict with any such treaty, governmental rule, regulation, guideline or order not
having the force of law even though the failure to comply therewith would not be unlawful) or (ii) has become impracticable, as
a result of contingencies occurring after the date hereof which materially and adversely affect the London interbank market or
the position of such Lender in that market, then, and in any such event, such Lender shall be an “Affected Lender”
and it shall on that day give notice (by telefacsimile or by telephone confirmed in writing) to the Borrower and the Administrative
Agent of such determination (which notice the Administrative Agent shall promptly transmit to each other Lender). If the Administrative
Agent receives a notice from any Lender pursuant to clause (i) of the preceding sentence or a notice from Lenders constituting
the Required Lenders pursuant to clause (ii) of the preceding sentence, thereafter (1) the obligation of the Lenders (or, in the
case of any notice pursuant to clause (i) of the preceding sentence, such Lender) to make Loans as, or to convert Base Rate Loans
to, Eurodollar Rate Loans shall be suspended until such notice shall be withdrawn by each Affected Lender, (2) to the extent such
determination by an Affected Lender relates to a Eurodollar Rate Loan then being requested by the Borrower pursuant to a Borrowing
Notice or a Conversion/Continuation Notice, the Lenders (or, in the case of any notice pursuant to clause (i) of the preceding
sentence, such Lender) shall make such Loan as (or continue such Loan as or convert such Loan to, as the case may be) a Base Rate
Loan, (3) the Lenders’ (or, in the case of any notice pursuant to clause (i) of the preceding sentence, such Lender’s)
obligations to maintain their respective outstanding Eurodollar Rate Loans (the “Affected Loans”) shall be
terminated at the earlier to occur of the expiration of the Interest Period then in effect with respect to the Affected Loans
or when required by law and (4) the Affected Loans shall automatically convert into Base Rate Loans on the date of such termination.
Notwithstanding the foregoing, to the extent a determination by an Affected Lender as described above relates to a Eurodollar
Rate Loan then being requested by the Borrower pursuant to a Borrowing Notice or a Conversion/Continuation Notice, the Borrower
shall have the option, subject to the provisions of Section 2.16(cd),
to rescind such Borrowing Notice or Conversion/Continuation Notice as to all Lenders by giving notice (by telefacsimile) to the
Administrative Agent of such rescission on the date on which the Affected Lender gives notice of its determination as described
above (which notice of rescission the Administrative Agent shall promptly transmit to each other Lender).

 

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(d)
(c) Compensation
for Breakage or Non-Commencement of Interest Periods. The Borrower shall compensate each Lender, upon written request by such
Lender (which request shall set forth the basis for requesting such amounts), for all reasonable losses, expenses and liabilities
(including any interest paid by such Lender to Lenders of funds borrowed by it to make or carry its Eurodollar Rate Loans and
any loss, expense or liability sustained by such Lender in connection with the liquidation or re-employment of such funds but
excluding loss of anticipated profits) which such Lender may sustain: (i) if for any reason (other than a default by such Lender)
a borrowing of any Eurodollar Rate Loan does not occur on a date specified therefor in a Borrowing Notice, or a conversion to
or continuation of any Eurodollar Rate Loan does not occur on a date specified therefor in a Conversion/Continuation Notice; (ii)
if any prepayment or other principal payment of, or any conversion of, any of its Eurodollar Rate Loans occurs on a date prior
to the last day of an Interest Period applicable to that Loan; or (iii) if any prepayment of any of its Eurodollar Rate Loans
is not made on any date specified in a Prepayment Notice given by the Borrower.

 

(e)
(d) Booking
of Eurodollar Rate Loans. Any Lender may make, carry or transfer Eurodollar Rate Loans at, to or for the account of any of
its branch offices or the office of an Affiliate of such Lender.

 

(f)
(e) Reserves
on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves
(including any basic marginal, special, supplemental, emergency or other reserves) with respect to Eurodollar Rate Loans against
“Eurocurrency liabilities” (as such term is defined in Regulation D) under regulations issued from time to time by
the Board of Governors or other applicable banking regulator, additional interest on the unpaid principal amount of each Eurodollar
Rate Loan equal to the actual costs of such reserves allocated to such Eurodollar Rate Loan by such Lender (as determined by such
Lender in good faith), which shall be due and payable on each date on which interest is payable on such Eurodollar Rate Loan,
provided the Borrower shall have received at least ten (10) days’ prior notice (with a copy to the Administrative
Agent) of such additional interest from such Lender. If a Lender fails to give notice ten (10) days prior to the relevant Payment
Date, such additional interest shall be due and payable ten (10) days from receipt of such notice.

 

(g)
(f) Assumptions
Concerning Funding of Eurodollar Rate Loans. Calculation of all amounts payable to a Lender under this Section 2.16 and under
Section 2.17 shall be made as though such Lender had actually funded each of its relevant Eurodollar Rate Loans through the purchase
of a Eurodollar deposit bearing interest at the rate obtained pursuant the definition of “Eurodollar Rate” in an amount
equal to the amount of such Eurodollar Rate Loan and having a maturity comparable to the relevant Interest Period and through
the transfer of such Eurodollar deposit from an offshore office of such Lender to a domestic office of such Lender in the United
States of America; provided that each Lender may fund each of its Eurodollar Rate Loans in any manner it sees fit and the
foregoing assumptions shall be utilized only for the purposes of calculating amounts payable under this Section 2.16 and under
Section 2.17.

 

Section
2.17 Increased Costs; Capital Adequacy; Liquidity.

 

(a)
Compensation For Increased Costs. In the event that any Lender shall determine (which determination shall, absent manifest
error, be final and conclusive and binding upon all parties hereto) that any Change in Law (i) imposes, modifies or holds applicable
any reserve (including any marginal, emergency, supplemental, special or other reserve), special deposit, compulsory loan, FDIC
insurance or similar requirement against assets held by, or deposits or other liabilities in or for the account of, or advances
or loans by, or other credit extended by, or any other acquisition of funds by, any office of such Lender (other than any reserve
contemplated by Section 2.16(ef)),
(ii) imposes any other condition (other than with respect to any Tax) on or affecting such Lender (or its applicable lending office)
or its obligations hereunder or the London interbank market or (iii) subjects such Lender to any incremental Tax (other than a
Tax indemnifiable under Section 2.18 or an Excluded Tax); and the result of any of the foregoing is to increase the cost to such
Lender of agreeing to make, making or maintaining Loans hereunder or to reduce any amount received or receivable by such Lender
(or its applicable lending office) with respect thereto; then, in any such case, the Borrower shall promptly pay to such Lender,
upon receipt of the statement referred to in the next sentence, such additional amount or amounts (in the form of an increased
rate of, or a different method of calculating, interest or otherwise as such Lender in its sole discretion shall determine) as
may be necessary to compensate such Lender for any such increased cost or reduction in amounts received or receivable hereunder.
Such Lender shall deliver to the Borrower (with a copy to the Administrative Agent) a written statement, setting forth in reasonable
detail the basis for calculating the additional amounts owed to such Lender under this Section 2.17(a), which statement shall
be conclusive and binding upon all parties hereto absent demonstrable error.

 

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(b)
Capital Adequacy or Liquidity Adjustment. In the event that any Lender shall have determined that the adoption, effectiveness,
phase-in or applicability of any Change in Law regarding capital adequacy, liquidity or compliance by any Lender (or its applicable
lending office) with any Change in Law regarding capital adequacy or liquidity has or would have the effect of reducing the rate
of return on the capital of such Lender or any corporation controlling such Lender as a consequence of, or with reference to,
such Lender’s Loans, or participations therein or other obligations hereunder with respect to the Loans, to a level below
that which such Lender or such controlling corporation could have achieved but for such adoption, effectiveness, phase-in, applicability,
change or compliance (taking into consideration the policies of such Lender or such controlling corporation with regard to capital
adequacy or liquidity), then from time to time, within five (5) Business Days after receipt by the Borrower from such Lender of
the statement referred to in the next sentence, the Borrower shall pay to such Lender such additional amount or amounts as shall
compensate such Lender or such controlling corporation on an after-tax basis for such reduction. Such Lender shall deliver to
the Borrower (with a copy to the Administrative Agent) a written statement, setting forth in reasonable detail the basis for calculating
the additional amounts owed to Lender under this Section 2.17(b), which statement shall be conclusive and binding upon all parties
hereto absent manifest error.

 

(c)
Delay in Requests. Failure or delay on the part of any Lender to demand compensation pursuant to this Section 2.17 shall
not constitute a waiver of such Lender’s right to demand such compensation, provided that the Borrower shall not
be required to compensate a Lender pursuant to this Section 2.17 for any increased costs incurred or reductions suffered if Lender
fails to provide Borrower with notice of such increased costs or reductions within ninety (90) days of such Lender actually incurring
such increased costs (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then
the 90-day period referred to above shall be extended to include the period of retroactive effect thereof).

 

Section
2.18 Taxes; Withholding, Etc.

 

(a)
Payments to Be Free and Clear. All sums payable by or on behalf of any Loan Party hereunder or under the other Loan Documents
shall (except to the extent required by law) be paid free and clear of, and without any deduction or withholding on account of,
any Tax.

 

(b)
Withholding of Taxes. If any Loan Party, the Administrative Agent or any other Person is required by law (as determined
in the good faith discretion of the applicable withholding agent) to make any deduction or withholding on account of any Tax from
any sum paid or payable by any Loan Party to the Administrative Agent or any Lender under any of the Loan Documents: (i) if a
Loan Party is the applicable withholding agent, the applicable Loan Party shall pay any such Tax to the relevant Governmental
Authority in accordance with applicable law; (ii) if such Tax is an Indemnified Tax or Other Tax, the sum payable by such Loan
Party in respect of which the relevant deduction, withholding or payment is required shall be increased to the extent necessary
to ensure that, after the making of that deduction, withholding or payment (including, in respect of any amounts payable under
this Section 2.18), such Lender (or in a case where the Administrative Agent receives the payments for its own account, the Administrative
Agent) receives a net sum equal to what it would have received had no such deduction, withholding or payment been required or
made; and (iii) within thirty (30) days after any Loan Party has paid any sum from which any Loan Party is required by law to
make any deduction or withholding, and within thirty (30) days after the due date of payment of any Tax which any Loan Party is
required by clause (i) above to pay, the Borrower shall deliver to the Administrative Agent evidence satisfactory to the other
affected parties of such deduction, withholding or payment and of the remittance thereof to the relevant taxing or other authority.

 

(c)
Status of Lenders. (1) Each Lender shall, at such times as are reasonably requested by the Borrower or the Administrative
Agent, provide the Borrower and the Administrative Agent with any documentation prescribed by law, or reasonably requested by
the Borrower or the Administrative Agent, certifying as to any entitlement of such Lender to an exemption from, or reduction in,
withholding tax with respect to any payments to be made to such Lender under the Loan Documents, or otherwise required by the
Borrower or the Administrative Agent to determine the extent to which any tax is required to be withheld; provided that
a Lender will not be required to deliver any documentation with respect to any Tax other than U.S. federal income or withholding
(including backup withholding) taxes to the extent such Lender determines, in its reasonable discretion, that delivering such
documentation would be materially prejudicial to such Lender’s legal or commercial position. Each such Lender shall, whenever
a lapse in time or change in circumstances renders any documentation previously provided by such Lender under this Section 2.18(c)
(including pursuant to paragraph (2) below) expired, obsolete or inaccurate in any respect, promptly 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 inability
to do so.

 

    	 	51	 

    	 

    

 

(2)
Without limiting the generality of the foregoing:

 

Each
Lender that is a United States person (as defined in Section 7701(a)(30) of the Internal Revenue Code) shall deliver to the Borrower
and the Administrative Agent on or before the date on which it becomes a party to this Agreement two properly completed and duly
signed original copies of Internal Revenue Service Form W-9 (or any successor form) certifying that such Lender is exempt from
U.S. federal backup withholding.

 

Each
Lender that is not a United States person (as defined in Section 7701(a)(30) of the Internal Revenue Code) shall deliver to the
Borrower and the Administrative Agent on or before the date on which it becomes a party to this Agreement (and from time to time
thereafter when required by Law or upon the reasonable request of the Borrower or the Administrative Agent) whichever of the following
is applicable:

 

(A)
two duly completed copies of Internal Revenue Service Form W-8BEN-E or W-8BEN (or any successor forms) claiming eligibility for
benefits of an income tax treaty to which the United States of America is a party,

 

(B)
two duly completed copies of Internal Revenue Service Form W-8ECI (or any successor forms),

 

(C)
in the case of a Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Internal Revenue
Code, (I) a certificate, in substantially the form of Exhibit F (any such certificate a “Certificate re Non-Bank
Status”), or any other form approved by the Administrative Agent, to the effect that such Lender is not (x) a “bank”
within the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, (y) a “10 percent shareholder” of a Borrower
within the meaning of Section 881(c)(3)(B) of the Internal Revenue Code, or (z) a “controlled foreign corporation”
described in Section 881(c)(3)(C) of the Internal Revenue Code, and that no payments in connection with the Loan Documents are
effectively connected with such Lender’s conduct of a U.S. trade or business and (II) two duly completed copies of Internal
Revenue Service Form W-8BEN-E or W-8BEN (or any successor forms),

 

(D)
to the extent a Lender is not the beneficial owner (for example, where the Lender is a partnership, or a participating Lender
that has transferred its beneficial ownership to a participant), Internal Revenue Service Form W-8IMY (or any successor forms)
of the Lender, accompanied by a Form W-8ECI, W-8BEN-E or W-8BEN, Certificate re Non-Bank Status, Form W-9, Form W-8IMY (or other
successor forms) or any other required information from each beneficial owner, as applicable (provided that, if the Lender
is a partnership (and not a participating Lender) and one or more of the Lender’s direct or indirect partners are claiming
the portfolio interest exemption, the Certificate re Non-Bank Status may be provided by such Lender on behalf of such direct or
indirect partners), or

 

(E)
any other form prescribed by applicable requirements of U.S. federal income tax law as a basis for claiming exemption from or
a reduction in U.S. federal withholding tax duly completed together with such supplementary documentation as may be prescribed
by applicable requirements of Law to permit the Borrower and the Administrative Agent to determine the withholding or deduction
required to be made.

 

    	 	52	 

    	 

    

 

If
a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax or USVI withholding Tax imposed
by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained
in Sections 1471(b) or 1472(b) of the Internal Revenue Code, as applicable), such Lender shall deliver to the Borrower and the
Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or
the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i)
of the Internal Revenue Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent
as may be necessary for the Borrower and the Administrative Agent to comply with their FATCA obligations, to determine whether
such Lender has or has not complied with such Lender’s FATCA obligations and, if necessary, to determine the amount to deduct
and withhold from such payment. Solely for purposes of the immediately preceding sentence, “FATCA” shall include any
amendments made to FATCA after the date of this Agreement.

 

Notwithstanding
any other provision of this Section 2.18(c), a Lender shall not be required to deliver any form that such Lender is not legally
eligible to deliver.

 

Each
Lender hereby authorizes the Administrative Agent to deliver to the Loan Parties and to any successor Administrative Agent any
documentation provided by such Lender to the Administrative Agent pursuant to Section 2.18(c).

 

(d)
Refunds. If any Lender becomes aware that it is entitled to claim a refund from a Governmental Authority in respect of
Taxes as to which the Borrower has paid additional amounts pursuant to Section 2.18(b) or indemnification payments pursuant to
Section 2.18(g), it shall make reasonable efforts to timely so advise the Borrower and, if the Borrower so requests, to seek such
refund at the Borrower’s expense; provided, however, that no Lender shall be required to take any action hereunder
which, in the sole discretion of such Lender, would cause such Lender or its applicable lending office to suffer a material economic,
legal or regulatory disadvantage. If any Lender actually receives a payment of a refund (including pursuant to a claim for refund
made pursuant to the preceding sentence) in respect of any Tax as to which the Borrower has paid additional amounts pursuant to
Sections 2.18(b) or indemnification payments under Section 2.18(g), it shall within ninety (90) days from the date of the receipt
of such refund pay over the amount of such refund to the Borrower, net of all reasonable out-of-pocket expenses of such Lender
(including any Taxes) and without interest (other than any interest paid by the relevant Governmental Authority with respect to
such refund). The Borrower agrees to repay any amount paid over to the Borrower (plus penalties, interest or other reasonable
charges paid by such Lender) to such Lender in the event such Lender is required to repay such refund to such Governmental Authority.
This Section 2.18(d) shall not be construed to require a Lender to make available its Tax returns (or any other information relating
to its Taxes which it deems confidential) to any Loan Party or any other Person.

 

(e)
Contests. If the Borrower determines that a reasonable basis exists for contesting a Tax, the Borrower shall make reasonable
efforts to timely advise the relevant Lender and at the Borrower’s written request, the relevant Lender shall make reasonable
efforts to cooperate with the Borrower in challenging such Tax at the Borrower’s expense; provided, however,
that no Lender shall be required to take any action hereunder which, in the sole discretion of such Lender, would cause such Lender
or its applicable lending office to suffer a material economic, legal or regulatory disadvantage.

 

(f)
Other Taxes. Without limiting or duplicating the provisions of Sections 2.18(a) or (b), the Borrower shall timely pay any
Other Taxes to the relevant Governmental Authority in accordance with applicable law.

 

(g)
Indemnification. Without limiting or duplicating the provisions of Sections 2.18(a), (b) or (f), the Borrower shall, within
15 days after written demand therefor, indemnify and hold harmless the Administrative Agent and each Lender from and against any
Indemnified Taxes or Other Taxes payable by such Administrative Agent or Lender, including any Indemnified Taxes or Other Taxes
imposed on or with respect to any additional amounts or indemnification payments made under this Section 2.18, and any reasonable
expenses related thereto, whether or not such Indemnified Taxes or Other Taxes are correctly or legally imposed or asserted by
the applicable Governmental Authority. A certificate as to the amount of any such Tax (along with a written statement setting
forth in reasonable detail the basis and calculation of such amounts) delivered to the Borrower by a Lender, or by the Administrative
Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

 

    	 	53	 

    	 

    

 

Section
2.19 Obligation to Mitigate. Each Lender agrees that, as promptly as practicable after the officer of such Lender responsible
for administering its Loans or becomes aware of the occurrence of an event or the existence of a condition that would cause such
Lender to become an Affected Lender or that would entitle such Lender to receive payments under Section 2.16, 2.17 or 2.18, it
shall, to the extent not inconsistent with the internal policies of such Lender and any applicable legal or regulatory restrictions,
use reasonable efforts to (a) make, issue, fund or maintain its Loans, including any Affected Loans, through another office of
such Lender or (b) take such other measures as such Lender may deem reasonable, if as a result thereof the circumstances which
would cause such Lender to be an Affected Lender would cease to exist or the additional amounts which would otherwise be required
to be paid to such Lender pursuant to Section 2.16, 2.17 or 2.18 would be materially reduced and if, as determined by such Lender
in its sole discretion, the making, issuing, funding or maintaining of such Loans through such other office or in accordance with
such other measures, as the case may be, would not otherwise adversely affect such Loans or the interests of such Lender; provided
that such Lender shall not be obligated to utilize such other office or take such other measures pursuant to this Section
2.19 unless the Borrower agrees to pay all incremental expenses incurred by such Lender as a result of utilizing such other office
or taking such other measures as described above. A certificate as to the amount of any such expenses payable by the Borrower
pursuant to this Section 2.19 (setting forth in reasonable detail the basis for requesting such amount) submitted by such Lender
to the Borrower (with a copy to the Administrative Agent) shall be conclusive absent manifest error.

 

Section
2.20 Defaulting Lenders. Anything contained herein to the contrary notwithstanding, in the event that any Lender becomes
a Defaulting Lender, then during any Default Period with respect to such Defaulting Lender, such Defaulting Lender shall be deemed
not to be a “Lender” for purposes of any amendment, waiver or consent with respect to any provision of the Loan Documents
that requires the approval of the Required Lenders. During any Default Period with respect to an Insolvency Defaulting Lender,
any amounts that would otherwise be payable to such Insolvency Defaulting Lender under the Loan Documents (including, without
limitation, voluntary and mandatory prepayments and fees) may, in lieu of being distributed to such Insolvency Defaulting Lender,
at the written direction of the Borrower to the Administrative Agent, be retained by the Administrative Agent to collateralize
indemnification and reimbursement obligations of such Insolvency Defaulting Lender in an amount reasonably determined by the Administrative
Agent. The rights and remedies against a Defaulting Lender under this Section 2.20 are in addition to other rights and remedies
which the Borrower may have against such Defaulting Lender as a result of it becoming a Defaulting Lender and which the Administrative
Agent or any Lender may have against such Defaulting Lender with respect thereto. The Administrative Agent shall not be required
to ascertain or inquire as to the existence of any Funds Defaulting Lender or Insolvency Defaulting Lender.

 

Section
2.21 Removal or Replacement of a Lender. Anything contained herein to the contrary notwithstanding, in the event that:
(a) (i) any Lender (an “Increased Cost Lender”) shall give notice to the Borrower that such Lender is an Affected
Lender or that such Lender is entitled to receive payments under Section 2.16, 2.17 or 2.18, (ii) the circumstances which have
caused such Lender to be an Affected Lender or which entitle such Lender to receive such payments shall remain in effect and (iii)
such Lender shall fail to withdraw such notice within five Business Days after the Borrower’s request for such withdrawal;
or (b) (i) any Lender shall become a Defaulting Lender, (ii) the Default Period for such Defaulting Lender shall remain in effect
and (iii) such Defaulting Lender shall fail to cure the default as a result of which it has become a Defaulting Lender within
five Business Days after Borrower’s request that it cure such default; or (c) in connection with any proposed amendment,
modification, termination, waiver or consent with respect to any of the provisions hereof as contemplated by Section 10.05(b)
or (c)(i), the consent of the Required Lenders (or the requisite percentage of Lenders under Section 10.05(c)(i)) shall have been
obtained but the consent of one or more of such other Lenders (each a “Non-Consenting Lender”) whose consent
is required shall not have been obtained; then, with respect to each such Increased Cost Lender, Defaulting Lender or Non-Consenting
Lender (the “Terminated Lender”), the Borrower may, by giving written notice to the Administrative Agent and
any Terminated Lender of its election to do so, elect to cause such Terminated Lender (and such Terminated Lender hereby irrevocably
agrees) to assign its outstanding Loans in full to one or more Eligible Assignees (each a “Replacement Lender”)
in accordance with the provisions of Section 10.06 and the Borrower shall pay the fees, if any, payable thereunder in connection
with any such assignment from an Increased Cost Lender, a Non-Consenting Lender or Insolvency Defaulting Lender, and the Funds
Defaulting Lender (if not also an Insolvency Defaulting Lender) shall pay the fees, if any, payable thereunder in connection with
any such assignment from such Defaulting Lender; provided that (1) on the date of such assignment, the Replacement Lender
shall pay to the Terminated Lender an amount equal to the sum of an amount equal to the principal of, and all accrued interest
on, all outstanding Loans of the Terminated Lender; (2) on the date of such assignment, the Borrower shall pay any amounts payable
to such Terminated Lender pursuant to Section 2.16(cd),
2.17 or 2.18; or otherwise as if it were a prepayment and (3) in the event such Terminated Lender is a Non-Consenting Lender,
each Replacement Lender shall consent, at the time of such assignment, to each matter in respect of which such Terminated Lender
was a Non-Consenting Lender. Upon the prepayment of all amounts owing to any Terminated Lender, such Terminated Lender shall no
longer constitute a “Lender” for purposes hereof; provided that any rights of such Terminated Lender to additional
amounts and indemnification hereunder shall survive as to such Terminated Lender. Each Lender agrees that if the Borrower exercises
its option hereunder to cause an assignment by such Lender as a Non-Consenting Lender or Terminated Lender, such Lender shall,
promptly after receipt of written notice of such election, execute and deliver all documentation necessary to effectuate such
assignment in accordance with Section 10.06. In the event that a Lender does not comply with the requirements of the immediately
preceding sentence within one Business Day after receipt of such notice, each Lender hereby authorizes and directs the Administrative
Agent to execute and deliver such documentation as may be required to give effect to an assignment in accordance with Section
10.06 on behalf of a Non-Consenting Lender or Terminated Lender and any such documentation so executed by the Administrative Agent
shall be effective for purposes of documenting an assignment pursuant to Section 10.06.

 

    	 	54	 

    	 

    

 

Section 2.22 Incremental
Facilities.

 

Section
2.22 Extensions of Loans

 

(a)
The Borrower may by written notice to the Administrative Agent elect to request the establishment
of one or more new term loan commitments which may be in the form of a new Series of New Term Loans or an increase to the amount
of Restatement Effective Date Term Loans or any then outstanding Series of New Term Loans (such new term loan commitments or increase
the “New Term Loan Commitments”), by an amount not in excess of (x) $100,000,000 in the aggregate plus (y)
such amount that, both before and after giving effect to the making of any Series of New Term Loans or increase in Restatement
Effective Date Term Loans, the First Lien LTV Ratio does not exceed a percentage equal to 30%, in each case, not less than $15,000,000
individually (or such lesser amount which shall be approved by the Administrative Agent), and integral multiples of $5,000,000
in excess of that amount; provided that the Borrower may elect to use clause (y) prior
to clause (x). Each such notice shall specify (i) the date (each, an “Increased Amount Date”) on which the
Borrower proposes that the New Term Loan Commitments shall be effective, which shall be a date not less than ten (10)
Business Days (or such shorter period as agreed by the Administrative Agent) after the date on
which such notice is delivered to the Administrative Agent and (ii) the identity of each Lender or other Person that is an Eligible
Assignee (each, a “New Term Loan Lender”) to whom the Borrower proposes any portion of such New Term Loan Commitments
be allocated and the amounts of such allocations; provided that
any Arranger may elect or decline to arrange such New Term Loan Commitments in its sole discretion and any Lender approached to
provide all or a portion of the New Term Loan Commitments may elect or decline, in its sole discretion, to provide a New Term
Loan Commitment. Such New Term Loan Commitments shall become effective as of such Increased Amount Date; provided
that (1) as of the Increased Amount Date, no event shall have occurred and be continuing or would result
from the consummation of the Borrowing of the New Term Loan that would constitute a Default or Event of Default; (2) both before
and after giving effect to the making of any Series of New Term Loans or increase in Restatement Effective Date Term Loans, each
of the following shall be satisfied: (i) the conditions set forth in Sections 3.01(h) (provided that
each reference therein to Section 3.01 shall be deemed a reference to this Section 2.22 and each reference therein to the Restatement
Effective Date shall be deemed a reference to the Increased Amount Date) and (ii) the representations and warranties contained
herein and in the other Loan Documents shall be true and correct in all material respects on and as of the Increased Amount Date
(except to the extent such representations and warranties relate to an earlier date, in which case, such representations and warranties
were true and correct in all material respects as of such earlier date); provided that
to the extent any such representation or warranty is already qualified by materiality or material adverse effect, such representation
or warranty shall be true and correct in all respects); (3) the Borrower shall be in pro forma compliance with the financial covenant
set forth in Section 6.07 as of the last day of the most recently ended Fiscal Quarter for which financial statements have been
delivered to the Lenders pursuant to Section 5.01(b) or (c) after giving effect to the making of any Series of New Term Loans
or increase in Restatement Effective Date Term Loans; (4) the New Term Loan Commitments shall be effected pursuant to one or more
Joinder Agreements executed and delivered by the Borrower, each applicable New Term Loan Lender and the Administrative Agent,
and each of which shall be recorded in the Register and each New Term Loan Lender shall be subject to the requirements set forth
in Section 2.18(c); and (5) the Borrower shall deliver or cause to be delivered any legal opinions or other documents reasonably
requested by the Administrative Agent in connection with any such transaction. Any New Term Loans made on an Increased Amount
Date shall be designated in the applicable Joinder Agreement either as a separate series, an increase to the Restatement Effective
Date Term Loans or an increase to any prior series of New Term Loans (in each case a “Series”; for purposes
of this Section 2.22, the Restatement Effective Date Term Loans and any increase thereof shall be deemed to be a Series) for all
purposes of this Agreement. Except for purposes of this Section 2.22, any New Term Loans shall be deemed to be, effective as of
the applicable Increased Amount Date, and after the making of such New Term Loans, Restatement Effective Date Term Loans for all
purposes of this Agreement; provided that for the avoidance of doubt such New Term Loans
will remain New Term Loans and New Term Loan Commitments, as the case may be, for purposes of this Section 2.22.at
any time and from time to time request that all or a portion of the Loans of any Class (each, an “Existing Loan Class”)
be converted or exchanged to extend the applicable scheduled Maturity Date(s) of any payment of principal with respect to all
or a portion of any principal amount of such Loans (any such Loans which have been so extended, “Additional Extended
Term Loans”) and to provide for other terms consistent with this Section 2.22. Prior to entering into any Extension
Amendment with respect to any Additional Extended Term Loans, the Borrower shall provide a written notice to the Administrative
Agent (who shall provide a copy of such notice to each of the Lenders under the applicable Existing Loan Class, with such request
offered equally to all such Lenders of such Existing Loan Class) (each, an “Extension Request”) setting forth
the proposed terms of the Additional Extended Term Loans to be established, which terms shall be identical in all material respects
to the Loans of the Existing Loan Class from which they are to be extended except that (i) the scheduled final maturity date shall
be extended and all or any of the scheduled amortization payments, if any, of all or a portion of any principal amount of such
Additional Extended Term Loans may be delayed to later dates than the scheduled amortization, if any, of principal of the Loans
of such Existing Loan Class (with any such delay resulting in a corresponding adjustment to the scheduled amortization payments
reflected in the Extension Amendment with respect to the Existing Loan Class from which such Additional Extended Term Loans were
extended), (ii)(A) the interest rates (including through fixed interest rates), interest margins, rate floors, upfront fees, funding
discounts, original issue discounts and voluntary prepayment terms and premiums with respect to the Additional Extended Term Loans
may be different than those for the Loans of such Existing Loan Class and/or (B) additional fees and/or premiums may be payable
to the Lenders providing such Additional Extended Term Loans in addition to any of the items contemplated by the preceding clause
(A), in each case, to the extent provided in the applicable Extension Amendment, (iii) any Additional Extended Term Loans may
participate on a pro rata basis or less than a pro rata basis in any mandatory prepayments of Loans hereunder2 and
(iv) the Extension Amendment may provide for (x) other covenants and terms that apply to any period after the Maturity Date in
respect of Loans that is in effect immediately prior to the establishment of such Additional Extended Term Loans and (y) subject
to the immediately succeeding proviso, a Previously Absent Covenant; provided that, notwithstanding anything to the contrary contained
herein, if any such terms of such Additional Extended Term Loans contain a Previously Absent Covenant that is in effect prior
to the applicable Maturity Date, such Previously Absent Covenant shall be included for the benefit of each Class. No Lender shall
have any obligation to agree to have any of its Loans of any Existing Loan Class converted into Additional Extended Term Loans
pursuant to any Extension Request. Any Additional Extended Term Loans extended pursuant to any Extension Request shall be designated
a series (each, an “Extension Series”) of Additional Extended Term Loans for all purposes of this Agreement
and shall constitute a separate Class of Loans from the Existing Loan Class from which they were extended; provided that any Additional
Extended Term Loans amended from an Existing Loan Class may, to the extent provided in the applicable Extension Amendment, be
designated as an increase in any previously established Extension Series with respect to such Existing Loan Class.

 

 

2
Option prepayment language is already covered in (ii)(A).

 

    	 	55	 

    	 

    

 

(b)
On any Increased Amount Date on which any New Term Loan Commitments of any Series or any increase
in Restatement Effective Date Term Loans are effective, subject to the satisfaction of the foregoing terms and conditions (including,
but not limited to, delivery of a Borrowing Notice pursuant to Section 2.01(b)), (i) each New Term Loan Lender of any Series shall
make a Loan to the Borrower (a “New Term Loan”) in an amount equal to its New Term Loan Commitment of such
Series and (ii) each New Term Loan Lender of any Series shall become a Lender hereunder with respect to the New Term Loan Commitment
of such Series and the New Term Loans of such Series made pursuant thereto.The
Borrower shall provide the applicable Extension Request to the Administrative Agent at least five (5)
Business Days (or such shorter period as the
Administrative Agent may reasonably determine) prior to the date on which Lenders under the applicable Existing Loan Class are
requested to respond. Any Lender holding a Loan under an Existing Loan Class (each, an “Additional Extending Lender”)
wishing to have all or a portion of its Loans of an Existing Loan Class or Existing Loan Classes, as applicable, subject to such
Extension Request converted or exchanged into Additional Extended Term Loans shall notify the Administrative Agent (each, an “Extension
Election”) on or prior to the date specified in such Extension Request of the amount of its Loans which it has elected
to convert or exchange into Additional Extended Term Loans. In the event that the aggregate principal amount of Loans subject
to Extension Elections exceeds the amount of Additional Extended Term Loans requested pursuant to the Extension Request, Loans
subject to an Extension Election shall be converted or exchanged into Additional Extended Term Loans on a pro rata basis (subject
to such rounding requirements as may be established by the Administrative Agent) based on the aggregate principal amount of Loans,
included in each such Extension Election or as may be otherwise agreed to in the applicable Extension Amendment.

 

(c)
The Administrative Agent shall notify the Lenders promptly upon receipt of Borrower’s notice
of each Increased Amount Date and in respect thereof the Series of New Term Loan Commitments (or increase in Restatement Effective
Date Term Loans) and the New Term Loan Lenders of such Series.Additional
Extended Term Loans shall be established pursuant to an amendment (each, an “Extension Amendment”) to this
Agreement (which, notwithstanding anything to the contrary set forth in Section 10.05, shall not require the consent of any Lender
other than the Additional Extending Lenders with respect to the Additional Extended Term Loans established thereby) executed by
the Borrower, the Administrative Agent and the Additional Extending Lenders. The Borrower may condition the effectiveness of any
Extension Amendment on an Extension Minimum Condition, which may be waived by the Borrower in its sole discretion. In addition
to any terms and changes required or permitted by Section 2.22(a) and (b), each of the parties hereto agrees that this Agreement
and the other Loan Documents may be amended pursuant to an Extension Amendment, without the consent of any other Lender, to the
extent necessary to (i) with respect of Additional Extended Term Loans, amend the scheduled amortization payments pursuant to
Section 2.09(a) or the applicable Extension Amendment, with respect to the Existing Loan Class from which the Additional Extended
Term Loans were exchanged to reduce each scheduled repayment amount for the Existing Loan Class in the same proportion as the
amount of Loans of the Existing Loan Class is to be reduced pursuant to such Extension Amendment (it being understood that the
amount of any repayment amount payable with respect to any individual Loan of such Existing Loan Class that is not an Additional
Extended Term Loan shall not be reduced as a result thereof); (ii) reflect the existence and terms of the Additional Extended
Term Loans, incurred pursuant thereto; (iii) modify the prepayments set forth in Section 2.11 and Section 2.12 to reflect the
existence of the Additional Extended Term Loans and the application of prepayments with respect thereto and (iv) effect such other
amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the
Administrative Agent and the Borrower, to effect the provisions of this Section 2.22, and the Lenders hereby expressly authorize
the Administrative Agent to enter into any such Extension Amendment. 

 

(d)
The terms and provisions of the New Term Loans and New Term Loan Commitments of any Series shall
be, except as otherwise set forth herein or in the Joinder Agreement, identical to the Loans. In any event (i) the weighted average
life to maturity of all New Term Loans of any Series shall be no shorter than the weighted average life to maturity of the Loans,
(ii) the applicable New Term Loan Maturity Date of each Series shall be no shorter than the Restatement Effective Date Term Loan
Maturity Date, (iii) the yield applicable to the New Term Loans of each Series shall be determined by the Borrower and the applicable
new Lenders and shall be set forth in each applicable Joinder Agreement and (iv) the amortization schedule applicable to any Series
of New Term Loans shall be determined by the Borrower and the applicable holders of New Term Loans; provided,
however, that the yield applicable to the New Term Loans (after giving effect to all
upfront or similar fees, original issue discount payable or Eurodollar or Base Rate “floor” with respect to such New
Term Loans with any such upfront or similar fees or original issue discount being equated to the interest rates in a manner reasonably
determined by the Administrative Agent based
on an assumed four-year life to maturity) shall not be greater than 0.50% above the applicable yield payable pursuant to the terms
of this Agreement as amended through the date of such calculation with respect to Loans (including any upfront fees or original
issue discount payable to the initial Lenders hereunder (but excluding customary arranger and underwriting fees) or Eurodollar
or Base Rate “floor” applicable to Restatement Effective Date Term Loans incurred on the Restatement Effective Date)
unless the interest rate with respect to the Loans is increased so as to cause the then applicable yield under this Agreement
on the Loans to be not less than the yield then applicable to the New Term Loans (after giving effect to all upfront or similar
fees or original issue discount payable to all lenders (but excluding customary arranger and underwriting fees) or Eurodollar
or Base Rate “floor” with respect to such New Term Loans with any such upfront or similar fees or original issue discount
being equated to the interest rates in a manner reasonably determined by the Administrative Agent based on an assumed four-year
life to maturity) minus 0.50%. Each Joinder Agreement may, without the consent of any other Lenders, effect
such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative
Agent to effect the provision of this Section 2.22.Notwithstanding
anything to the contrary contained in this Agreement, on any date on which any Existing Loan Class is converted or exchanged to
extend the related scheduled maturity date(s) in accordance with paragraphs (a) and (b) of this Section 2.22, in the case of the
existing Loans of each Additional Extending Lender, the aggregate principal amount of such existing Loans shall be deemed reduced
by an amount equal to the aggregate principal amount of Additional Extended Term Loans so converted or exchanged by such Lender
on such date, and the Additional Extended Term Loans shall be established as a separate Class of Loans, except as otherwise provided
under Section 2.22(a) and (b). 

 

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(e)
No conversion or exchange of Loans pursuant to any Extension Amendment in accordance with this
Section 2.22 shall constitute a
voluntary or mandatory payment or prepayment for purposes of this Agreement.

 

(f)
The Loan Parties shall take any actions reasonably required by
the Administrative Agent to
ensure and/or demonstrate that the Lien and security interests granted by the Security Documents continue to be perfected under
the Uniform Commercial Code or otherwise after giving effect to the establishment of any Additional Extended Term Loans.

 

Section
2.23 Refinancing Amendments

 

(e)
The New Term Loans and New Term Loan Commitments established pursuant to this
Section 2.22 shall constitute Loans
and CommitmentsAt
any time and from time to time, the Borrower may obtain, from any Lender or any Additional Lender (it being understood that no
Lender shall be required to provide any Other Loan without its consent), Other Loans to refinance all or any portion of the applicable
Class or Classes of Loans then outstanding under this Agreement which will be made pursuant to a Refinancing Amendment; provided
that such Other Loans (i) shall rank equal in priority in right of payment with the other Loans, (ii) shall rank pari passu
(without regard to the control of remedies) with any Obligations under this Agreement (iii)(A) shall have interest rates (including
through fixed interest rates), interest margins, rate floors, upfront fees, funding discounts, original issue discounts and prepayment
terms and premiums as may be agreed by the Borrower and the Lenders thereof and/or (B) may provide for additional fees and/or
premiums payable to the Lenders providing such Other Loans in addition to any of the items contemplated by the preceding clause
(A), in each case, to the extent provided in the applicable Refinancing Amendment, (iv) may have optional prepayment terms (including
call protection and prepayment terms and premiums) as may be agreed between the Borrower and the Lenders thereof, (v) will have
a final maturity date no earlier than, and will have a Weighted Average Life to Maturity no shorter than, the Loans being refinanced
and (vi) will have such other terms and conditions (other than as provided in foregoing clauses (ii) through (v)) that if otherwise
not consistent with the terms of such Class of Loans being refinanced, not be materially more restrictive to the Borrower (as
determined by the Borrower in good faith), when taken as a whole, than the terms of such Class of Loans being refinanced, except
to the extent necessary to provide for (x) covenants and other terms applicable to any period after the Maturity Date of the Loans
in effect immediately prior to such refinancing or (y) subject to the immediately succeeding proviso, a Previously Absent Covenant;
provided that, notwithstanding anything to the contrary contained herein, if any such terms of the Other Loans contain
a Previously Absent Covenant that is in effect prior to the applicable latest Maturity Date, such Previously Absent Covenant shall
be included for the benefit of each Class. Any Other Loans shall constitute Loans under,
and shall be entitled to all the benefits afforded by, this Agreement and the other Loan Documents, and shall, without limiting
the foregoing, benefit equally and ratably with the Obligations from the Subsidiary Guarantors and security interests created
by the Security Documents. Each Series of New Term Loans or New Term Loans incurred as an increase
to the Restatement Effective Date Term Loans shall be entitled to share in mandatory prepayments on a ratable basis with the Restatement
Effective Date Term Loans and the other Series of New Term Loans (unless the holders of the New Term Loans of any Series agree
to take a lesser share of certain prepayments).Any
Other Loans may participate on a pro rata basis or less than a pro rata basis in any mandatory prepayments of Loans hereunder.

 

    	 	57	 

    	 

    

 

(b)
The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Refinancing Amendment. Each of the
parties hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended
to the extent (but only to the extent) necessary to reflect the existence and terms of the Other Loans incurred pursuant thereto
(including any amendments necessary to treat the Other Loans as Loans). Any Refinancing Amendment may, without the consent of
any other Lender effect
such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable
opinion
of the Administrative Agent and
the Borrower, to effect the provisions of this Section 2.23. The
Loan Parties shall take any actions reasonably required by the Administrative Agent to ensure and/or demonstrate that the Lien
and security interests granted by the Security Documents continue to be perfected under the Uniform Commercial Code or otherwise
after giving effect to the establishment of any such Class of New TermOther
Loans or any such New Term Loan Commitments.

 

ARTICLE
III

 

CONDITIONS
PRECEDENT

 

Section
3.01 Conditions Precedent. The obligation of the Lenders to make Loans on the Restatement Effective Date iswas
subject to the satisfaction, or waiver in accordance with Section 10.05, of the following conditions on or before the
Restatement Effective Date:

 

(a)
Loan Documents. (i) The Administrative Agent shall have received copies of the following documents, executed and delivered
by each Loan Party: (x) the Restatement Agreement, (y) the Borrowing Notice and (z) any Notes and (ii) all such documents shall
be in form and substance reasonably satisfactory to the Administrative Agent.

 

(b)
Organizational Documents; Incumbency. The Administrative Agent shall have received (1) copies of each Organizational Document
executed and delivered by each Loan Party, and, to the extent applicable, certified as of a recent date by the appropriate governmental
official, each dated the Restatement Effective Date or a recent date prior thereto; (2) signature and incumbency certificates
of the officers of each Loan Party executing the Loan Documents to which it is a party; (3) resolutions of the Board of Directors
or similar governing body of each Loan Party approving and authorizing the execution, delivery and performance of this Agreement
and the other Loan Documents to which it is a party or by which it or its assets may be bound as of the Restatement Effective
Date, certified as of the Restatement Effective Date by its secretary or an assistant secretary as being in full force and effect
without modification or amendment; (4) a good standing certificate from the applicable Governmental Authority of the jurisdiction
of incorporation, organization or formation for each Loan Party, each dated a recent date prior to the Restatement Effective Date;
and (5) such other organizational documents and evidence of incumbency as the Administrative Agent may reasonably request.

 

(c)
[reserved].Reserved].

 

(d)
[reserved].Reserved].

 

(e)
[reserved]. Reserved].

 

(f)
Personal Property Collateral. In order to create in favor of the Collateral Agent, for the benefit of Secured Parties,
a valid, perfected First Priority security interest in the personal property Collateral, each Loan Party shall have delivered
to the Collateral Agent:

 

(1)
a completed Perfection Certificate dated the Restatement Effective Date and executed by an Authorized Officer of each Loan Party,
together with all attachments contemplated thereby;

 

    	 	58	 

    	 

    

 

(2)
evidence that each Loan Party shall have taken or caused to be taken any other action, executed and delivered or caused to be
executed and delivered any other agreement, document and instrument (including any intercompany notes evidencing Indebtedness
permitted to be incurred pursuant to Section 6.01(b)) and made or caused to be made any other filing and recording (other than
as set forth herein) reasonably required by the Collateral Agent;

 

(3)
opinions of counsel (which counsel shall be reasonably satisfactory to the Collateral Agent) with respect to the creation and
perfection of the security interests in favor of the Collateral Agent in the Collateral and such other matters governed by the
laws of each jurisdiction in which any Loan Party or any personal property Collateral is located as the Collateral Agent may reasonably
request (including opinions of counsel regarding any share pledge agreement), in each case in form and substance reasonably satisfactory
to the Collateral Agent;

 

(4)
copies of UCC, United States Patent and Trademark Office and United States Copyright Office, tax and judgment lien searches or
equivalent reports or searches, each of a recent date listing all effective financing statements, lien notices or comparable documents
that name any Loan Party as debtor and that are filed in those state and county jurisdictions in which any Loan Party is organized
or maintains its principal place of business and such other searches that are required by the Perfection Certificate or that the
Collateral Agent deems reasonably necessary or appropriate, none of which encumber the Collateral covered or intended to be covered
by the Security Documents (other than Permitted Liens or any other Liens acceptable to the Collateral Agent); and

 

(5)
a Junior Lien Intercreditor Agreement executed by the Collateral Agent, collateral agent with respect to the Second Lien Notes
and the Loan Parties.

 

(g)
Opinions of Counsel to Loan Parties. The Agents and the Lenders and their respective counsel shall have received originally
executed copies of the favorable written opinions of Mayer Brown LLP, counsel for Loan Parties, in the form of Exhibit D-1,
internal counsel for the Loan Parties, in the form of Exhibit D-2 and Marjorie Rawls Roberts, P.C., U.S. Virgin Island
counsel for Loan Parties, in the form of Exhibit D-3 and, in each case, as to such other matters as the Administrative
Agent may reasonably request, dated as of the Restatement Effective Date and otherwise in form and substance reasonably satisfactory
to the Administrative Agent (and each Loan Party hereby instructs such counsel to deliver such opinions to Agents and Lenders).

 

(h)
Restatement Effective Date Certificate. The Borrower shall have delivered to the Administrative Agent an originally executed
Restatement Effective Date Certificate, together with all attachments thereto, and which shall include certifications to the effect
that:

 

(i)
the representations set forth in Article IV and the other Loan Documents shall be true and correct in all material respects
on and as of the Restatement Effective Date (except to the extent such representations and warranties relate to an earlier date,
in which case, such representations and warranties were true and correct in all material respects as of such earlier date); provided
that to the extent any such representation or warranty is already qualified by materiality or material adverse effect, such
representation or warranty shall be true and correct in all respects; and

 

(ii)
each of the conditions precedent described in this Section 3.01 shall have been satisfied on the Restatement Effective Date (except
that no certification need be made as to the Administrative Agent’s or the Required Lenders’ satisfaction with any
document, instrument or other matter).

 

(i)
Bank Regulatory Information. The Administrative Agent and Arrangers shall have received all documentation and other information
about the Borrower and the Subsidiary Guarantors as has been reasonably requested in writing by the Administrative Agent or Arrangers
at least ten (10) days prior to the Restatement Effective Date and they reasonably determine is required by regulatory authorities
under applicable “know-your-customer” and anti-money laundering rules and regulations, including the Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (Title III of Pub. L. 107-56 (signed into
law October 26, 2001) (as amended, supplemented or modified from time to time, the “PATRIOT Act”).

 

    	 	59	 

    	 

    

 

(j)
Solvency Certificate. The Administrative Agent shall have received a Solvency Certificate from Parent.

 

(k)
Payment at Closing. The Borrower shall have paid to the Administrative Agent the accrued and unpaid fees due and set forth
or referenced in Section 2.08 and any other accrued and unpaid fees or commissions due to the Administrative Agent and Arrangers
hereunder (including, without limitation, legal fees and expenses of the Administrative Agent and Arrangers incurred in connection
with the negotiation, preparation and execution of this Agreement to the extent invoiced at least three days prior to the Restatement
Effective Date), which amounts may be offset against the proceeds of the Restatement Effective Date Term Loans hereunder, and
to any other Person such amount as may be due thereto in connection with the transactions contemplated hereby, including all taxes,
fees and other charges in connection with the execution, delivery, recording, filing and registration of any of the Loan Documents.

 

(l)
Acknowledgement Agreements. The Borrower shall have used commercially reasonable efforts to obtain acknowledgement agreements
from the relevant Fannie Mae, Freddie Mac and Ginnie Mae, each in the standard form used by Fannie Mae, Freddie Mac or Ginnie
Mae, as applicable, or in such other form reasonably satisfactory to the Administrative Agent and the Collateral Agent, whereby
Fannie Mae, Freddie Mac or Ginnie Mae acknowledges the security interest of the Secured Parties in the Servicing Agreements of
the Loan Parties with the Fannie Mae, Freddie Mac or Ginnie Mae, as applicable; provided that it being understood that,
notwithstanding anything in this Section 3.01(m) to the contrary, to the extent such acknowledgement agreements are not or cannot
be provided on the Restatement Effective Date after the Loan Parties’ use of commercially reasonable efforts to do so, then
the delivery of acknowledgement agreements shall not constitute a condition precedent to the availability of the Restatement Effective
Date Term Loans on the Restatement Effective Date, but instead shall be required to be delivered after the Restatement Effective
Date pursuant to Section 5.15(c).

 

ARTICLE
IV

 

REPRESENTATIONS
AND WARRANTIES

 

In
order to induce the Lenders to enter into this Agreement and to make or
continue each Loan to be made thereby, Parent and each other Loan Party represents and warrants to each Lender that,
as of the Restatement Effective Date, as applicable, each of the following statements is true and correct:

 

Section
4.01 Organization and Qualification. Each of the Loan Parties is (a) duly organized, validly existing and, to the extent
applicable, in good standing under the laws of its jurisdiction of organization as identified on Schedule 4.01 and (b)
is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to
carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing has not
had, and would not be reasonably expected to have, a Material Adverse Effect.

 

Section
4.02 Corporate Authorization. The execution, delivery and performance of the Loan Documents have been duly authorized by
all necessary action on the part of each Loan Party that is a party thereto, and on the part of the respective shareholders, members
or other equity security holders of each such Loan Party, and each Loan Party has all requisite power and authority to own and
operate its properties, to carry on its business as now conducted and as proposed to be conducted, to enter into the Loan Documents
to which it is a party and to carry out the transactions contemplated thereby.

 

Section
4.03 Equity Interests and Ownership. Schedule 4.03 correctly sets forth the ownership interest of Parent and each
of its Subsidiaries in their respective Subsidiaries as of the RestatementSecond
Amendment Effective Date. Except as set forth on Schedule 4.03, as of the date hereof, there is no existing
option, warrant, call, right, commitment or other agreement to which any Loan Party is a party requiring, and there is no membership
interest or other Equity Interests of any Loan Party outstanding which upon conversion, exchange or exercise would require, the
issuance by any Loan Party of any additional membership interests or other Equity Interests of any Loan Party or other Securities
convertible into or exchangeable or exercisable for or evidencing the right to subscribe for or purchase, a membership interest
or other Equity Interests of any Loan Party, and no securities or obligations evidencing any such rights are authorized, issued
or outstanding.

 

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Section
4.04 [Reserved].

 

Section
4.05 No Conflict. The execution, delivery and performance by the Loan Parties of the Loan Documents to which they are parties
and the consummation of the transactions contemplated by the Loan Documents at such Restatement
Effective DateTransactions do not and shall
not (a) violate (i) any provision of any law, statute, ordinance, rule, regulation, or code applicable to any Loan Party, (ii)
any of the Organizational Documents of any Loan Party or (iii) any order, judgment, injunction or decree of any court or other
agency of government binding on any Loan Party; (b) conflict with, result in a breach of or constitute (with due notice or lapse
of time or both) a default under any Contractual Obligation of any Loan Party except to the extent such conflict, breach or default
would not reasonably be expected to have a Material Adverse Effect; (c) result in or require the creation or imposition of any
Lien upon any of the properties or assets of any Loan Party (other than any Liens created under any of the Loan Documents in favor
of the Collateral Agent on behalf of the Secured Parties); or (d) require any approval of stockholders, members or partners or
any approval or consent of any Person under any Contractual Obligation of any Loan Party, except for such approvals or consents
which have been obtained on or before the RestatementSecond
Amendment Effective Date and except for any such approvals or consents the failure of which to obtain shall not have
a Material Adverse Effect.

 

Section
4.06 Governmental Consents. The execution, delivery and performance by the Loan Parties of the Loan Documents to which
they are parties and the consummation of the transactions contemplated by the Loan Documents do not and shall not require any
registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority except as
otherwise set forth in the Loan Documents and except for filings and recordings with respect to the Collateral to be made, or
otherwise delivered to the Collateral Agent for filing and/or recordation, as of the RestatementSecond
Amendment Effective Date. Parent and each of its Subsidiaries has all consents, permits, approvals and licenses of
each Governmental Authority necessary in connection with the operation and performance of its Core Business Activities, including,
without limitation, all necessary approvals to act as a servicer, except in each case as would not reasonably be expected to result
in a Material Adverse Effect.

 

Section
4.07 Binding Obligation. Each Loan Document has been duly executed and delivered by each Loan Party that is a party to
such Loan Document and is the legally valid and binding obligation of such Loan Party, enforceable against such Loan Party in
accordance with its respective terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar
laws of general applicability relating to or limiting creditors’ rights or by equitable principles relating to enforceability.

 

Section
4.08 Financial Statements. The Historical Financial Statements delivered to the Administrative Agent and the Arrangers
fairly present in all material respects on a Consolidated basis the assets, liabilities and financial position of Parent as at
the dates of such Historical Financial Statements, and the results of the operations and changes of financial position for the
periods then ended (other than customary year-end adjustments for unaudited financial statements). All such financial statements,
including the related schedules and notes thereto, have been prepared in accordance with GAAP. Such financial statements show
all Material Indebtedness and other material liabilities, direct or contingent, of the Borrower as of the date thereof, including
material liabilities for taxes and material commitments, in each case, to the extent required to be disclosed under GAAP.

 

Section
4.09 No Material Adverse Change. Since December 31, 2015, there has been no event or circumstance, either individually
or in the aggregate, that has had or would reasonably be expected to have a Material Adverse Effect.

 

Section
4.10 Tax Returns and Payments. Each of Parent and each of its Subsidiaries has duly and timely filed or caused to be duly
and timely filed all federal, state, local and other Tax returns required by applicable law to be filed, and has timely paid all
federal, state, local and other Taxes, assessments and governmental charges or levies upon it or its property, income, profits
and assets which are due and payable (including in its capacity as a withholding agent), whether or not shown on a Tax return,
except for (i) those that are being diligently contested in good faith by appropriate proceedings and for which Parent or the
relevant Subsidiary shall have set aside on its books adequate reserves in accordance with GAAP and (ii) filings, Taxes and charges
as to which the failure to make or pay would not reasonably be expected, individually or in the aggregate, to have a Material
Adverse Effect.

 

    	 	61	 

    	 

    

 

Section
4.11 Environmental Matters. None of the Loan Parties nor any of their respective Facilities or operations are subject to
any outstanding written order, consent decree or settlement agreement with any Person relating to any Environmental Law, any Environmental
Claim, or any Hazardous Materials activity that, individually or in the aggregate, would reasonably be expected to have a Material
Adverse Effect. None of the Loan Parties has received any letter or request for information under Section 104 of the Comprehensive
Environmental Response, Compensation, and Liability Act (42 U.S.C. § 9604) or any comparable state law. To each Loan Party’s
knowledge, there are and have been no conditions, occurrences, or Hazardous Materials activities which would reasonably be expected
to form the basis of an Environmental Claim against any Loan Party that, individually or in the aggregate, could reasonably be
expected to have a Material Adverse Effect. None of the Loan Parties nor, to any Loan Party’s knowledge, any predecessor
of any Loan Party has filed any notice under any Environmental Law indicating past or present treatment of Hazardous Materials
at any Facility, and none of the Loan Parties’ operations involves the generation, transportation, treatment, storage or
disposal of hazardous waste, as defined under 40 C.F.R. Parts 260-270 or any state equivalent. Compliance with all current or
reasonably foreseeable future requirements pursuant to or under Environmental Laws could not be reasonably expected to have, individually
or in the aggregate, a Material Adverse Effect. To each Loan Party’s knowledge, no event or condition has occurred or is
occurring with respect to any Loan Party relating to any Environmental Law, any Release of Hazardous Materials or any Hazardous
Materials activity which individually or in the aggregate has had, or would reasonably be expected to have, a Material Adverse
Effect. No Lien imposed pursuant to any Environmental Law has attached to any Collateral and, to the knowledge of each Loan Party,
no conditions exist that would reasonably be expected to result in the imposition of such a Lien on any Collateral.

 

Section
4.12 Governmental Regulation. Neither Parent nor any of its Subsidiaries is subject to regulation under the Federal Power
Act or the Investment Company Act of 1940 or under any other federal or state statute or regulation which may limit its ability
to incur Indebtedness or which may otherwise render all or any portion of the Obligations unenforceable. None of the Loan Parties
is a “registered investment company” or a company “controlled” by a “registered investment company”
or a “principal underwriter” of a “registered investment company” as such terms are defined in the Investment
Company Act of 1940.

 

Section
4.13 [Reserved].

 

Section
4.14 Employee Matters. None of the Loan Parties is engaged in any unfair labor practice that would reasonably be expected
to have a Material Adverse Effect. There is (a) no unfair labor practice complaint pending against Parent or any of its Subsidiaries,
or to the best knowledge of Parent, threatened against any of them before the National Labor Relations Board and no grievance
or arbitration proceeding arising out of or under any collective bargaining agreement that is so pending against Parent or any
of its Subsidiaries or, to the best knowledge of Parent and the Borrower, threatened against any of them, (b) no strike or work
stoppage in existence or, to the best knowledge of Parent and the Borrower, threatened involving Parent or any of its Subsidiaries
and (c) to the best knowledge of Parent and the Borrower, no union representation question existing with respect to the employees
of Parent or any of its Subsidiaries and, to the best knowledge of Parent, no union organization activity that is taking place,
except (with respect to any matter specified in clause (a), (b) or (c) above, either individually or in the aggregate) such as
is not reasonably likely to have a Material Adverse Effect.

 

Section
4.15 ERISA.

 

(i)
Except as could not reasonably be expected to result in a Material Adverse Effect, each Employee Benefit Plan is in material compliance
with all applicable provisions of ERISA and the regulations and published interpretations thereunder except for any required amendments
for which the remedial amendment period as defined in Section 401(b) or other applicable provision of the Internal Revenue Code
has not yet expired and except where a failure to so comply would not reasonably be expected
to have a Material Adverse Effect;

 

    	 	62	 

    	 

    

 

(ii)
As of the RestatementSecond
Amendment Effective Date, except as would not reasonably be expected to result in a Material Adverse Effect, no Pension
Plan has been terminated, nor is any Pension Plan in “at-risk” status pursuant to Section 303 of ERISA, nor has any
funding waiver from the Internal Revenue Service been received or requested with respect to any Pension Plan sponsored by Parent,
nor has there been any event requiring any disclosure under Section 4041(c)(3)(C) or 4063(a) of ERISA with respect to any Pension
Plan sponsored by Parent; and

 

(iii)
Except where the failure of any of the following representations to be correct in all material respects would not reasonably be
expected to have a Material Adverse Effect, neither Parent nor any ERISA Affiliate has: (A) engaged in a nonexempt prohibited
transaction described in Section 406 of the ERISA or Section 4975 of the Internal
Revenue Code, (B) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are
no premium payments which are due and unpaid, (C) failed to make a required contribution or payment to a Multiemployer Plan, or
(D) failed to make a required payment under Section 412 of the Internal Revenue Code.

 

Section
4.16 Margin Stock. None of the Loan Parties owns any Margin Stock.

 

Section
4.17 [Reserved].

 

Section
4.18 Solvency. (a) As of the RestatementSecond
Amendment Effective Date, Parent, the Borrower and their Subsidiaries on a consolidated basis are Solvent and (b) after
the RestatementSecond
Amendment Effective Date, upon the incurrence of any Obligation by any Loan Party on any date on which this representation
and warranty is made, after giving effect to the consummation of any related transactions, Parent, the Borrower and their Subsidiaries
on a consolidated basis shall be, Solvent.

 

Section
4.19 Disclosure.

 

(a)
The representations and warranties of the
Loan Parties contained in any Loan Document and in the other documents, certificates or written statements furnished to any Agent
or Lender by or on behalf of Parent or any of its Subsidiaries and for use in connection with the transactions contemplated hereby,
taken as a whole, do not contain any untrue statement of a material fact or omit to state a material fact (known to any Loan Party,
in the case of any document not furnished by any of them) necessary in order to make the statements contained herein or therein
not misleading in light of the circumstances in which the same were made. Any projections and pro forma financial information
prepared by Parent or the Borrower and provided to the Lenders are based upon good faith estimates and assumptions believed by
Parent and the Borrower to be reasonable at the time made, it being recognized by Lenders that such projections as to future events
are not to be viewed as facts and that actual results during the period or periods covered by any such projections may differ
from the projected results and such differences may be material. There are no facts known to any Loan Party (other than matters
of a general economic nature) that, individually or in the aggregate, as of the RestatementSecond
Amendment Effective Date, would reasonably be expected to result in a Material Adverse Effect and that have not been
disclosed herein or in such other documents, certificates and statements furnished to Lenders for use in connection with the transactions
contemplated hereby.

 

(b)
As of the Second Amendment Effective Date, to the best knowledge of the Borrower, the information included in any Beneficial Ownership
Certification provided on or prior to the Second Amendment Effective Date to any Lender in connection with this Agreement is true
and correct in all material respects.

 

Section
4.20 PATRIOT Act; Anti-Corruption. To the extent applicable, each Loan Party is in compliance, in all material respects,
with (i) the Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury
Department (31 C.F.R., Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto
and (ii) the PATRIOT Act. No part of the proceeds of the Loans shall be used, directly or indirectly, for any payments to any
governmental official or employee, political party, official of a political party, candidate for political office, or anyone else
acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of
the United States Foreign Corrupt Practices Act of 1977, as amended.

 

    	 	63	 

    	 

    

 

Section
4.21 Security Documents. The Security Agreement is effective to create in favor of the Collateral Agent, for the benefit
of the Secured Parties, a legal, valid and enforceable security interest in the Collateral described therein and proceeds and
products thereof. In the case of the Pledged Equity (as defined in the Security Agreement), when certificates representing such
Pledged Equity are delivered to the Collateral Agent, and in the case of the other Collateral described in the Security Agreement
in which a security interest may be perfected by filing a financing statement under the UCC or filings with the United States
Patent and Trademark Office and United States Copyright Office, when financing statements and other filings to be specified on
the relevant schedule(s) to the Security Agreement in appropriate form are filed in the offices to be specified on such schedule(s),
the Security Agreement shall constitute a fully perfected First Priority Lien on, and security interest in, all right, title and
interest of the Loan Parties in such Collateral and the proceeds thereof, as security for the Obligations, in each case prior
and superior in right to any other Person (except, in the case of Collateral other than Pledged Equity, any Permitted Liens).
With respect to the UCC financing statements set forth under the heading “Other Filings” on Schedule 6.02,
no Indebtedness or any other obligations of Parent or any of its Subsidiaries are secured by such UCC financing statements.

 

Section
4.22 Adverse Proceedings; Compliance with Law. There are no Adverse Proceedings, individually or in the aggregate, that
could reasonably be expected to have a Material Adverse Effect. None of the Loan Parties (a) is in violation of any applicable
laws that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect or (b) is subject
to or in default with respect to any final judgments, writs, injunctions, decrees, rules or regulations of any court or any federal,
state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign,
that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

 

Section
4.23 Properties. Each of Parent and its Subsidiaries has (i) good, sufficient and legal title to (in the case of fee interests
in real property), (ii) valid leasehold interests in (in the case of leasehold interests in real or personal property), (iii)
valid licensed rights in (in the case of licensed interests in intellectual property) and (iv) good title to (in the case of all
other personal property), all of their respective properties and assets reflected in their respective financial statements referred
to in Section 4.08, in each case except for assets disposed of since the date of such financial statements in the ordinary course
of business. Except as permitted by this Agreement, all such properties and assets are free and clear of Liens.

 

Section
4.24 Servicing Advances; Specified Deferred Servicing Fees; Specified MSRs.

 

(a)
With respect to Servicing Advances and Unencumbered Servicing Advances set forth on Schedule 1.01(e)(B), (i) the Residual
Interests (other than reserve accounts) held by any Loan Party in any related Servicing Advance Facility are not subject to any
Lien other than the Lien securing the Obligations, (ii) Parent, the Borrower, any Subsidiary Guarantor or any Subsidiary of Parent
or the Borrower that is a Securitization Entity has valid title to all such Servicing Advances (including Unencumbered Servicing
Advances), (iii) such Unencumbered Servicing Advances are subject to a valid and perfected First Priority Lien in favor of the
Collateral Agent for the benefit of the Secured Parties and (iv) all such Servicing Advances (including Unencumbered Servicing
Advances) are not subject to any Liens other than the Lien referred to in clause (a)(iii) above and the Liens securing the relevant
Servicing Advance Facility. Notwithstanding anything herein to the contrary, any Servicing Advances (including any Unencumbered
Servicing Advances) that do not meet the requirements set forth in the preceding sentence, whether or not the related Servicing
Agreements are included in Schedule 1.01(e)(A) or the Servicing Advances are set forth on Schedule 1.01(e)(B), shall
not be used in the calculation of the First Lien LTV Ratio or Total Secured LTV RatioFinancial
Covenant Ratios.

 

(b)
With respect to Specified Deferred Servicing Fees, (i) Schedule 1.01(e)(B) sets forth the aggregate amount of Specified
Deferred Servicing Fees which have been earned and are due and payable to Parent and its Subsidiaries in connection with the related
Servicing Agreements set forth on Schedule 1.01(e)(A), (ii) Parent, the Borrower or any Subsidiary Guarantor has valid
title to such Specified Deferred Servicing Fees, (iii) such Specified Deferred Servicing Fees are subject to a valid and perfected
First Priority Lien in favor of the Collateral Agent for the benefit of the Secured Parties and (iv) such Specified Deferred Servicing
Fees are not subject to any Lien other than the Lien referred to in clause (b)(iii) above. Notwithstanding anything herein to
the contrary, any Specified Deferred Servicing Fees that do not meet the requirements set forth in the preceding sentence, whether
or not included in Schedule 1.01(e)(B), shall not be used in the calculation of the First
Lien LTV Ratio or Total Secured LTV RatioFinancial
Covenant Ratios except to the extent they are pledged pursuant to a Servicing Advance Facility that satisfies the applicable
requirements set forth in clause (i) of Section 4.24(a).

 

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(c)
With respect to the Specified MSRs, (i) Parent, the Borrower or any Subsidiary Guarantor has valid title to such Specified MSRs,
(ii) such Specified MSRs are subject to a valid and perfected First Priority Lien in favor of the Collateral Agent for the benefit
of the Secured Parties and (iii) such Specified MSRs are not subject to any Lien other than the Lien referred to in clause (c)(ii)
above. Notwithstanding anything herein to the contrary, the value of any MSRs that do not meet the requirements set forth in the
preceding sentence, whether or not included in Schedule 1.01(e)(A) or Schedule 1.01(e)(B), shall not be used in
the calculation of the First Lien LTV Ratio or Total Secured LTV RatioFinancial
Covenant Ratios except to the extent provided in clause (i) of the definition of Specified MSR Value.

 

ARTICLE
V

 

AFFIRMATIVE
COVENANTS

 

Each
Loan Party covenants and agrees that, so long as any Commitment is in effect and until payment in full of all Obligations (other
than (x) obligations under Hedge Agreements not yet due and payable and (y) contingent indemnification obligations not yet due
and payable), each Loan Party shall, and shall cause each of its Subsidiaries to:

 

Section
5.01 Financial Statements and Other Reports. In the case of Parent, deliver to the Administrative Agent (which shall furnish
to each Lender):

 

(a)
Monthly Reports. As soon as available, and in any event within thirty (30) days after the end of each month ending
after the Restatement Effective Date (other than any month that is the last month of a Fiscal Quarter or Fiscal
Year), commencing with the first full month to occur after the Restatement Effective Date,
the Consolidated balance sheet of Parent and its Subsidiaries as at the end of such month and the related Consolidated statements
of income of Parent and its Subsidiaries for such month and for the period from the beginning of the then current Fiscal Year
to the end of such month, setting forth in each case in comparative form the corresponding figures for the corresponding periods
of the previous Fiscal Year and the corresponding figures from the Projections for the current Fiscal Year, to the extent prepared
on a monthly basis, all in reasonable detail, together with a Financial Officer Certification;

 

(b)
Quarterly Financial Statements. As soon as available, and in any event no later than five (5) days after the date on which
Parent is required, under the Exchange Act, to file its Quarterly Report on Form 10-Q with the SEC,
commencing with the Fiscal Quarter in which the Restatement Effective Date occurs (other than any Fiscal Quarter
that is the last Fiscal Quarter of a Fiscal Year), the Consolidated balance sheets of Parent and its Subsidiaries as at the end
of such Fiscal Quarter and the related Consolidated statements of income, stockholders’ equity and cash flows of Parent
and its Subsidiaries for such Fiscal Quarter and for the period from the beginning of the then current Fiscal Year to the end
of such Fiscal Quarter, setting forth in each case in comparative form the corresponding figures for the corresponding periods
of the previous Fiscal Year and the corresponding figures from the Projections for the current Fiscal Year, all in reasonable
detail, together with a Financial Officer Certification and a Narrative Report with respect thereto;

 

(c)
Annual Financial Statements. As soon as available, and in any event no later than five (5) days after the date on which
Parent is required, under the Exchange Act, to file its Annual Report on Form 10-K with the SEC, commencing
with the Fiscal Year in which the Restatement Effective Date occurs, (i) the Consolidated balance sheets of Parent
and its Subsidiaries as at the end of such Fiscal Year and the related Consolidated statements of income, stockholders’
equity and cash flows of Parent and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the
corresponding figures for the previous Fiscal Year and the corresponding figures from the Projections for the Fiscal Year covered
by such financial statements, in reasonable detail, together with a Financial Officer Certification and a Narrative Report with
respect thereto; and (ii) with respect to such Consolidated financial statements a report thereon of Deloitte LLP or other independent
certified public accountants of recognized national standing selected by Parent (which report and/or the accompanying financial
statements shall be unqualified as to going concern and scope of audit (other than a going concern qualification resulting from
an upcoming maturity date under any Indebtedness occurring within one year from the time such opinion is delivered), and shall
state that such Consolidated financial statements fairly present, in all material respects, the Consolidated financial position
of Parent and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods
indicated in conformity with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial
statements) and that the examination by such accountants in connection with such Consolidated financial statements has been made
in accordance with generally accepted auditing standards);

 

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(d)
Projections. As soon as possible, and in any event no later than fourteen (14) days following the delivery of the annual
financial statements delivered pursuant to Section 5.01(c), a detailed consolidated budget for the following Fiscal Year shown
on a quarterly basis (including a projected consolidated balance sheet of Parent and its Subsidiaries as of the end of the following
Fiscal Year, the related consolidated statements of projected cash flow, projected changes in financial position and projected
income and a description of the underlying assumptions applicable thereto and projected covenant compliance levels) (collectively,
the “Projections”), which Projections shall in each case be accompanied by a certificate of an Authorized Officer
of Parent stating that such Projections are based on reasonable estimates, information and assumptions at the time prepared;

 

(e)
Compliance Certificate. Together with each delivery of financial statements and Projections of Parent and its Subsidiaries
pursuant to Sections 5.01(b) and 5.01(c), a duly executed and completed Compliance Certificate;

 

(f)
[Reserved].

 

(g)
[Reserved].

 

(h)
Notice of Default. Promptly upon any officer of any Loan Party obtaining knowledge (i) of any condition or event that constitutes
a Default or an Event of Default or that notice has been given to any Loan Party with respect thereto; (ii) of any condition or
event that constitutes a “Default” or “Event of Default” under any Material Indebtedness or that notice
has been given to any party thereunder with respect thereto; (iii) that any Person has given any notice to any Loan Party or any
of its Subsidiaries or taken any other action with respect to any event or condition set forth in Section 8.01; or (iv) of the
occurrence of any event or change that has caused or evidences, either in any case or in the aggregate, a Material Adverse Effect,
a certificate of an Authorized Officer specifying the nature and period of existence of such condition, event or change, or specifying
the notice given and action taken by any such Person and the nature of such claimed Event of Default, Default, default, event
or condition, and what action the Borrower has taken, is taking and proposes to take with respect thereto;

 

(i)
Notice of Litigation. Promptly upon any officer of any Loan Party obtaining knowledge of (i) any Adverse Proceeding not
previously disclosed in writing by the Borrower to the Lenders or (ii) any development in any Adverse Proceeding that, in the
case of either clause (i) or (ii), if adversely determined could be reasonably expected to have a Material Adverse Effect, or
seeks to enjoin or otherwise prevent the consummation of, or to recover any damages or obtain relief as a result of, the transactions
contemplated hereby, or the exercise of rights or performance of obligations under any Loan Document, a written notice thereof
together with such other information as may be reasonably available to the Borrower to enable the Lenders and their counsel to
evaluate such matters;

 

(j)
ERISA. Promptly upon any officer of any Loan Party becoming aware of the occurrence of or forthcoming occurrence of any
ERISA Event which could reasonably be expected to result in a Material Adverse Effect, a written notice specifying the nature
thereof, and copies of such documentation related thereto as may be reasonably available to the Borrower or any of its Wholly-Owned
Subsidiaries to enable the Lenders and their counsel to evaluate such matter;

 

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(k)
Electronic Delivery. Documents required to be delivered pursuant to Sections 5.01(b) or (c) (to the extent any such documents
are included in materials otherwise filed with the SEC) and notices and documents required to be delivered pursuant to Sections
5.01(h), (i), (q) and (r)(A) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the
date on which (i) Parent posts such documents or notices (which may be press releases), or provides a link thereto, on the Parent’s
website on the Internet at the website address listed on Schedule 10.01(a); or (ii) such documents or notices (which may
be press releases) are posted on Parent’s behalf on an internet or intranet website, if any, to which each Lender and the
Administrative Agent have access (whether a commercial or third-party website); provided that the Borrower shall notify
the Administrative Agent and each Lender (by telecopier or electronic mail (including automatically generated emails from the
Parent’s website)) of the posting of any such documents and shall deliver paper copies of such documents to the Administrative
Agent or any Lender that requests such paper copies;

 

(l)
Information Regarding Collateral. The Borrower shall furnish to the Collateral Agent ten (10) Business Days prior written
notice of any change (A) in any Loan Party’s corporate name, (B) in any Loan Party’s identity or corporate structure
or (C) in any Loan Party’s jurisdiction of organization, in each case, together with supporting documentation as reasonably
requested by the Administrative Agent. Parent and the Borrower agree not to effect or permit any change referred to in the preceding
sentence unless all filings have been made under the UCC or otherwise that are required in order for the Collateral Agent to continue
at all times following such change to have a valid, legal and perfected security interest in all the Collateral as contemplated
in the Security Documents;

 

(m)
Collateral Verification. (i) Each quarter, (x) at the time of delivery of quarterly financial statements with respect to
the preceding Fiscal Quarter pursuant to Section 5.01(b) or (c), or (y) to the extent there are any changes thereto (A) at the
time of the consummation of an Asset Sale pursuant to Section 6.08 and (B) at the time of any other sale or transfer permitted
by this Agreement or at the time of the delivery of any Counterpart Agreement adding a Subsidiary Guarantor hereunder and a Grantor
under the Security Agreement or any other Security Documents, the Borrower shall deliver to the Administrative Agent and the Collateral
Agent a certificate of its Authorized Officer that (I) attaches an updated version of Schedule 1.01(e)(A) and Schedule
1.01(e)(B) as of the preceding Fiscal Quarter or date of such consummation and (II) certifies that the representations and
warranties set forth in Section 4.24 are true and correct on and as of the date of such certification and (ii) with the consent
of the Administrative Agent not to be unreasonably withheld the Borrower may, but shall not be obligated to, deliver to the Administrative
Agent and the Collateral Agent updated versions of Schedule 1.01(e)(A) and Schedule 1.01(e)(B) on a more frequent
basis if it chooses to do so;

 

(n)
Management Letters. Promptly after the receipt thereof by Parent or any of its Subsidiaries, a copy of any “management
letter” received by any such Person from its certified public accountants and the management’s response thereto;

 

(o)
Certification of Public Information. The Loan Parties and each Lender acknowledge that certain of the Lenders may be “public-side”
Lenders (Lenders that do not wish to receive material non-public information with respect to the Loan Parties or their securities)
(“Public Lenders”) and, if documents or notices required to be delivered pursuant to this Section 5.01 or otherwise
are being distributed through IntraLinks/IntraAgency, SyndTrak or another relevant website or other information platform (the
“Platform”), any document or notice that the Borrower has indicated contains Non-Public Information shall not
be posted on that portion of the Platform designated for such public-side Lenders. The Borrower agrees to clearly designate all
information provided to the Administrative Agent by or on behalf of the Loan Parties which is suitable to make available to Public
Lenders. If the Borrower has not indicated whether a document or notice delivered pursuant to this Section 5.01 contains Non-Public
Information, the Administrative Agent reserves the right to post such document or notice solely on that portion of the Platform
designated for Lenders who wish to receive material non-public information with respect to the Loan Parties and their respective
securities;

 

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(p)
Contractual Obligations. Promptly upon any officer of any Loan Party obtaining knowledge of any condition or event that
constitutes a default or an event of default under any Contractual Obligation arising from agreements relating to Indebtedness
or Servicing Agreements, or that notice has been given to any Loan Party with respect thereto, a certificate of an Authorized
Officer specifying the nature and period of existence of such condition or event and the nature of such claimed default or event
of default, and what action the Borrower has taken, is taking and proposes to take with respect thereto, provided that
no such certificate shall be required with respect to any such default or event of default to the extent that such default or
event of default would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;

 

(q)
Credit Ratings. Prompt written notice of any change in Parent’s corporate rating by S&P, in Parent or the Borrower’s
corporate family rating by Moody’s or in the ratings of the Term Loans
by either S&P or Moody’s, or any notice from either such agency indicating its intent to effect such a change or to
place the Borrower on a “CreditWatch” or “WatchList” or any similar list, in each case with negative implications,
or its cessation of, or its intent to cease, rating Parent or the Borrower; and

 

(r)
Other Information. (A) Promptly upon their becoming available, copies of (i) all financial statements, reports, notices
and proxy statements sent or made available generally by the Loan PartiesParent
to their respectiveits
security holders acting in such capacity, (ii) all regular and periodic reports and all registration statements and
prospectuses, if any, filed by any Loan Partythe
Parent with any securities exchange or with the SEC and (iii) all press releases and other statements made available
generally by any Loan Partythe
Parent to the public concerning material developments in the business of any Loan Party and (B)(i)
such other information and data with respect to the operations, business affairs and financial condition of Parent,
the Borrower and their respective Subsidiaries as from time to time may be reasonably requested by the Administrative Agent or
any Lender and (ii) information and documentation reasonably requested
by the Administrative Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money
laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation.

 

Section
5.02 Existence. Except as otherwise permitted under Section 6.08, at all times preserve and keep in full force and effect
its existence and all rights and franchises, licenses and permits material to its business; provided that no Loan Party
(other than Parent and the Borrower with respect to existence) or any of its Subsidiaries shall be required to preserve any such
existence, right or franchise, licenses and permits if such Person’s board of directors (or similar governing body) shall
determine that the preservation thereof is no longer desirable in the conduct of the business of such Person and that the loss
thereof would not be materially adverse to such Person or to Lenders.

 

Section
5.03 Payment of Taxes and Claims. Pay all federal and other material Taxes imposed upon it or any of its properties or
assets or in respect of any of its income, businesses or franchises before any penalty or fine accrues thereon, and all claims
(including claims for labor, services, materials and supplies) for sums that have become due and payable and that by law have
or may become a Lien upon any of its properties or assets, prior to the time when any penalty or fine shall be incurred with respect
thereto; provided that no such Tax or claim need be paid if it is being contested in good faith by appropriate proceedings
promptly instituted and diligently conducted, so long as (a) adequate reserve or other appropriate provision, as shall be required
in conformity with GAAP shall have been made therefor and (b) in the case of a Tax or claim which has or may become a Lien against
any of the Collateral, such contest proceedings conclusively operate to stay the sale of any portion of the Collateral to satisfy
such Tax or claim. No Loan Party shall, nor shall it permit any of its Subsidiaries to, file or consent to the filing of any consolidated
income tax return with any Person (other than the Parent and its Subsidiaries).

 

Section
5.04 [Reserved].

 

Section
5.05 Insurance. In the case of Parent, maintain or cause to be maintained, with financially sound and reputable insurers,
such public liability insurance, third party property damage insurance, business interruption insurance and casualty insurance
with respect to liabilities, losses or damage in respect of the assets, properties and businesses of the Loan Parties 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 are customary for such Persons. Parent shall use its commercially reasonable efforts to ensure that all such
insurance (i) provides no cancellation, material reduction in amount or material change in coverage thereof shall be effective
until at least 30 day after receipt by the Collateral Agent of written notice thereof and (ii) names the Collateral Agent as additional
insured on behalf of the Secured Parties (in the case of liability insurance) or loss payee (in the case of property insurance),
as applicable.

 

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Section
5.06 Books and Records; Inspections. Maintain proper books of record and accounts in which full, true and correct entries
in conformity in all material respects with GAAP shall be made of all dealings and transactions in relation to its business and
activities. Each Loan Party shall, and shall cause each of its Subsidiaries to, permit any authorized representatives designated
by any Lender to visit and inspect any of the properties of any Loan Party and any of its Subsidiaries, to inspect, copy and take
extracts from its and their financial and accounting records and to discuss its and their affairs, finances and accounts with
its and their officers and independent public accountants, all upon reasonable notice and at such reasonable times during normal
business hours and as often as may reasonably be requested. No more than one such inspection shall be made in any Fiscal Year
at the Borrower’s expense; provided that if an Event of Default exists, there shall be no limit on the number of
such inspections that may occur, and such inspections, copying and auditing shall be at the Borrower’s sole cost and expense.

 

Section
5.07 Conference Calls. In the case of Parent and the Borrowers, upon the request of the Administrative Agent or the Required
Lenders, participate in a conference call of the Administrative Agent and the Lenders once during each Fiscal Year at such time
as may be agreed to by the Borrowers and the Administrative Agent.

 

Section
5.08 Compliance with Laws. Comply, and cause all other Persons, if any, on or occupying any Facilities to comply, with
the requirements of all Contractual Obligations arising from Servicing Agreements and all applicable laws, rules, regulations
and orders of any Governmental Authority, noncompliance with which would reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect.

 

Section
5.09 Environmental. Promptly take any and all actions necessary to (i) cure any violation of applicable Environmental Laws
by such Loan Party or its Subsidiaries that would reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect and (ii) make an appropriate response to any Environmental Claim against such Loan Party or any of its Subsidiaries
and discharge any obligations it may have to any Person thereunder where failure to do so would reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect.

 

Section
5.10 Subsidiaries.

 

(a)
In the event that any Person becomes a Material Subsidiary of Parent or the Borrower (other than an Excluded Subsidiary or a Securitization
Entity) after the date hereof, (i) promptly cause such Material Subsidiary to become a Subsidiary Guarantor hereunder and, if
any assets of such Person shall become Collateral, a Grantor under the Security Agreement by executing and delivering to the Administrative
Agent and the Collateral Agent a Counterpart Agreement, and (ii) take all such actions and execute and deliver, or cause to be
executed and delivered, all such documents, instruments, agreements, and certificates as are similar to those described in Sections
3.01(b), (f) and (g). In the event that the Borrower wishes to designate any Designated Subsidiary as a Subsidiary Guarantor it
shall, on the date of such designation, deliver to the Administrative Agent and Collateral Agent (i) a Counterpart Agreement with
such changes as maybe requested by or acceptable to the Administrative Agent, (ii) a Pledge Supplement to the Security Agreement
or such other agreements, documents and instruments as the Administrative Agent may reasonably request in order to grant and perfect
a First Priority Lien in favor of the Collateral Agent in substantially all assets of such Designated Subsidiary, and (iii) all
such documents, instruments, agreements, and certificates as are similar to those described in Sections 3.01(b), (f) and (g) or
equivalent in any applicable foreign jurisdiction, including a customary opinion of counsel from the jurisdiction of organization
of such Designated Subsidiary, in each case, in form and substance reasonably acceptable to the Administrative Agent.

 

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(b)
With respect to any Excluded Subsidiary or any Securitization Entity which, in each case, represents (i) 5% or more of Parent’s
Consolidated total assets or (ii) 5 % or more of Parent’s Consolidated total revenues, in each case as determined at the
end of the most recent fiscal quarter of Parent’s based on the financial statements of Parent’s delivered pursuant
to Sections 5.01(b) and (c), the applicable Loan Party shall promptly execute and deliver all such documents, instruments, agreements,
and certificates as are similar to those described in Section 3.01(b) (which shall include, in the case of pledges of Equity Interests
issued by Foreign Subsidiaries, to the extent reasonably requested by the Collateral Agent, execution and delivery of a pledge
agreement in respect of such Equity Interests under the laws of the jurisdiction on which such Subsidiary is organized), and Parent,
the Borrower or the applicable Loan Party shall take all of the actions referred to in Section 3.01(f) necessary to grant and
to perfect a First Priority Lien in favor of the Collateral Agent, for the benefit of the Secured Parties, under the Security
Agreement in the Equity Interests of such new Subsidiary that is owned by Parent, the Borrower or any of their respective Subsidiaries
(provided that in no event shall (i) more than 65.0% of the voting Equity Interests of any Excluded Subsidiary directly
held by a Domestic Subsidiary be required to be so pledged, (ii) any equity of any subsidiary owned by any Excluded Subsidiary
be required to be so pledged and (iii) any equity of a Securitization Entity that cannot be pledged as a result of restrictions
in its or its parent’s Organizational Documents or documents governing its Indebtedness be required to be so pledged).

 

(c)
With respect to each new Subsidiary, Parent or the Borrower shall, at the time of delivery of quarterly financial statements with
respect to the preceding Fiscal Quarter pursuant to Section 5.01(b) or (c), send to the Collateral Agent written notice setting
forth with respect to such Person (i) the date on which such Person became a Subsidiary of Parent or the Borrower and (ii) all
of the data related to such Subsidiary required to be set forth in Schedules 4.01 and 4.03; and such written notice
shall be deemed to supplement Schedules 4.01 and 4.03 for all purposes hereof.

 

Section
5.11 Further Assurances. At any time or from time to time upon the request of the Administrative Agent, at the expense
of the Loan Parties, promptly execute, acknowledge and deliver such further documents and do such other acts and things as the
Administrative Agent or the Collateral Agent may reasonably request in order to effect fully the purposes of the Loan Documents
or of more fully perfecting or renewing the rights of the Administrative Agent or the Lenders with respect to the Collateral (or
with respect to any additions thereto or replacements or proceeds thereof or with respect to any other property or assets hereafter
acquired by Parent, the Borrower or any Subsidiary of Parent or the Borrower which may be deemed to be part of the Collateral).
In furtherance and not in limitation of the foregoing, each Loan Party shall take such actions as the Administrative Agent or
the Collateral Agent may reasonably request from time to time to ensure that the Obligations are guaranteed by the Subsidiary
Guarantors and are secured by the Collateral and all of the outstanding Equity Interests of Subsidiaries of the Loan Parties (subject
to limitations contained in the Loan Documents with respect to Foreign Subsidiaries and Securitization
Entitiesand excluding the Excluded PHH Assets and the
Equity Interests of non-wholly-owned Subsidiaries that cannot be pledged as a result of contractual restrictions set forth in
a contract with a third party, other than the Borrower or a Guarantor). Upon the exercise by the Administrative Agent,
the Collateral Agent or any Lender of any power, right, privilege or remedy pursuant to this Agreement or the other Loan Documents
which required any consent, approval, recording qualification or authorization of any Governmental Authority, Parent or the Borrower
will execute and deliver, or will cause the execution and delivery of, all applications, certifications, instruments and other
documents and papers that the Administrative Agent, the Collateral Agent to any such Lender may be required to obtain from Parent
or the Borrower or any of their respective Subsidiaries for such governmental consent, approval, recording, qualification or authorization.

 

Section
5.12 Maintenance of Ratings. At all times use commercially reasonable efforts to cause the Loans and the Parent’s
corporate credit to continue to be rated by Moody’s and S&P.

 

Section
5.13 Post-Closing Actions[Reserved].

 

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(a)
No later than thirty (30) days following the Restatement Effective Date (or such later time as agreed to in writing by the Administrative
Agent in its sole discretion) to the extent not delivered on or prior to the Restatement Effective Date, the Collateral Agent
shall have received a certificate from the applicable Loan Party’s insurance broker or other evidence
reasonably satisfactory to
it that all insurance required to be maintained
pursuant to Section 5.05 is in full force and effect, together with endorsements naming the Collateral Agent, for the benefit
of Secured Parties, as additional insured and loss payee thereunder to the extent required under Section 5.05.

 

(b)
No later than thirty (30) days following the Restatement Effective Date (or such later time as agreed to in writing by the Administrative
Agent in its sole discretion), the Collateral Agent shall have received the stock certificate evidencing the Equity Interests
of Liberty Home Equity Solutions, Inc. owned by the Parent accompanied by a stock power.

 

Section
5.14 [Reserved].

 

Section
5.15 Servicing Agreements.

 

(a)
Comply with, or cause any other Subsidiary of Parent acting as servicer to comply with, (i) all obligations as the servicer under
each of the Servicing Agreements and (ii) all generally accepted servicing customs and practices of the mortgage servicing industry,
in each case, except where failure to comply would not reasonably be expected to have a Material Adverse Effect.

 

(b)
Parent and the Borrower shall promptly, and in no event later than five (5) days after a senior officer of the Parent or any Borrower
has knowledge thereof, notify the Administrative Agent of any servicer termination event or event of default (excluding any such
events resulting solely due to the breach of one or more collateral performance tests or the downgrade by any rating agency of
the servicer ratings of the related servicer) under any material Servicing Agreement (excluding any subservicing agreement) or
its receipt of a notice of actual termination of Parent or its Subsidiary’s right to service under any Servicing Agreement
(excluding any subservicing agreement) which evidences an intent to transfer such servicing to a third party. For purposes of
this clause (b) “material” shall mean Servicing Agreements under which there is servicing related to loans constituting
$10,000,000,000 or more of unpaid principal balances.

 

(c)
The Borrower shall use commercially reasonable efforts to promptly deliver (or cause the relevant Subsidiary to promptly deliver)
an acknowledgment of the relevant Specified Government Entity under such Servicing Agreements in the standard form used by such
Specified Government Entity or in such other form reasonably satisfactory to the Administrative Agent and the Collateral Agent,
whereby such Specified Government Entity acknowledges the security interest of the Secured Parties in the MSRs under such Servicing
Agreements (other than Servicing Agreements with Ginnie Mae). For the avoidance of doubt, for purposes of the First
Lien LTV Ratio and Total Secured LTV RatioFinancial
Covenant Ratios, the entering into an acknowledgement agreement consistent with this Section 5.15(c) with respect to
the Specified MSR Value under the Servicing Agreements shall not in and of itself result in the Collateral Agent having a First
Priority Lien on such Specified MSRs.

 

ARTICLE
VI

 

NEGATIVE
COVENANTS

 

Parent
and the Borrower covenant and agree that, so long as any Commitment is in effect and until payment in full of all Obligations
(other than (x) obligations under Hedge Agreements not yet due and payable and (y) contingent indemnification obligations not
yet due and payable), Parent and the Borrower shall not, nor shall either of them cause or permit any of their respective Subsidiaries
to:

 

Section
6.01 Indebtedness. Directly or indirectly, create, incur, assume or guaranty, or otherwise become or remain directly or
indirectly liable with respect to any Indebtedness, except:

 

(a)
the Obligations;

 

    	 	71	 

    	 

    

 

(b)
Indebtedness of any Subsidiary of Parent owed to Parent or to any other Subsidiary of Parent, or of Parent to any Subsidiary of
Parent; provided that (i) except with respect to any Indebtedness among Subsidiaries that are not Loan Parties, all such
Indebtedness shall be unsecured and, to the extent such Indebtedness is owed by a Loan Party to
a non-Loan Party, subordinated in right of payment to the payment in full of the Obligations pursuant to the terms
of the Intercompany Note or an intercompany subordination agreement reasonably acceptable to the Administrative Agent and (ii)
any such Indebtedness that is owed by a non-Loan Party to a Loan Party is permitted as an Investment under Section 6.06(d);

 

(c)
Non-Recourse Indebtedness;

 

(d)
Indebtedness which may be deemed to exist pursuant to any guaranties, performance, surety, statutory, appeal or similar obligations
incurred in the ordinary course of business;

 

(e)
Indebtedness in respect of netting services, overdraft protections and otherwise in connection with deposit accounts;

 

(f)
guaranties by the Borrower or a Guarantor of Indebtedness otherwise permitted to be incurred pursuant to this Section 6.01 (other
than guaranties of Non-Recourse Indebtedness and Permitted Funding Indebtedness or guarantees arising from or based on matters
such as fraud, misappropriation, breaches of representations, warranties or covenants and misapplication and customary indemnities
in connection with transactions similar to the related Indebtedness)); provided that if the Indebtedness that is being
guarantied is unsecured and/or subordinated to the Obligations, the guaranty shall also be unsecured and/or subordinated to the
Obligations;

 

(g)
Indebtedness outstanding on the RestatementSecond
Amendment Effective Date and described in Schedule 6.01 and any Permitted Refinancing thereof;

 

(h)
Indebtedness of a Person or Indebtedness attaching to assets of a Person that, in either case, becomes a Subsidiary or Indebtedness
attaching to assets that are acquired by Parent or any of its Subsidiaries, in each case after the RestatementSecond
Amendment Effective Date as the result of a Permitted Acquisition and any Permitted Refinancing thereof; provided
that (i) such Indebtedness existed at the time such Person became a Subsidiary or at the time such assets were acquired and,
in each case, was not created in anticipation thereof, (ii) such Indebtedness is not guaranteed in any respect by Parent or any
of its Subsidiaries (other than by any such person that so becomes a Subsidiary) and (iii) the aggregate principal amount of such
Indebtedness (other than Permitted Funding Indebtedness) outstanding at any one time does not exceed $100,000,000150,000,000;

 

(i)
Indebtedness of the type described in clause (xi) of the definition of “Indebtedness” incurred in the ordinary course
of business and consistent with prudent business practice to hedge or mitigate risks to which Parent or any of its Subsidiaries
is exposed in the conduct of its business or the management of its liabilities or to hedge against fluctuations in interest rates
or currency; provided that in each case such Indebtedness shall not have been entered into for speculative purposes;

 

(j)
other recourse Indebtedness of Parent and its Subsidiaries including Indebtedness of Foreign Subsidiaries of Parent in an aggregate
amount not to exceed at any time $60,000,000;

 

(k)
Permitted Funding Indebtedness;

 

(l)
Permitted Securitization Indebtedness and Indebtedness under Credit Enhancement Agreements;

 

(m)
Indebtedness arising from customary agreements providing for indemnification, adjustment of purchase price or similar obligations,
in each case incurred or assumed in connection with the dispositions or purchase of assets permitted hereunder, provided that
such Indebtedness (other than for indemnification) shall be included in the total consideration for purposes of all determinations
relating to such disposition or purchase hereunder;

 

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(n)
Indebtedness of Parent or its Subsidiaries with respect to Capital Leases and purchase money Indebtedness in an aggregate amount
not to exceed at any time $100,000,000; provided that any such Indebtedness (i) shall be secured only by the asset acquired
in connection with the incurrence of such Indebtedness, and (ii) shall constitute not less than 75% of the aggregate consideration
paid with respect to such asset; and

 

(o)
Junior Indebtedness of Parent or its Subsidiaries; provided that (i) no Default or Event of Default shall exist before
or after giving effect to the incurrence of such Indebtedness, and (ii) the aggregate amount of Junior Indebtedness (other
than in the case of (x) the issuance ofexcluding (x)
the Second Lien Notes on the Restatement Effective Date and (y) up
to $150,000,000 of Junior Indebtedness in the form of unsecured
Indebtedness), shall not exceed an amount that would cause the Total Secured LTV Ratio to exceed 75% on a pro forma basis after
giving effect to such Junior Indebtedness; provided that any Junior Indebtedness (other than any such Junior Indebtedness
under clause (y) above) shall be deemed to be Second Lien Indebtedness for purposes of calculating the Total Secured LTV Ratio
for purposes of this clause (o)(ii); and Indebtedness in respect of any 6.625% Senior Notes Due
2019 of the Borrower that remain outstanding after the Exchange Offer Transactions.

 

Section
6.02 Liens. Directly or indirectly, create, incur, assume or permit to exist any Lien on or with respect to any property
or asset of any kind (including any document or instrument in respect of goods or accounts receivable) of Parent or any of its
Subsidiaries, whether now owned or hereafter acquired or licensed, or any income, profits or royalties therefrom, or file or permit
the filing of, or permit to remain in effect, any financing statement or other similar notice of any Lien with respect to any
such property, asset, income, profits or royalties under the UCC of any State or under any similar recording or notice statute,
except:

 

(a)
Liens in favor of the Collateral Agent for the benefit of the Secured Parties granted pursuant to any Loan Document;

 

(b)
Liens for Taxes if obligations with respect to such Taxes are being contested in good faith by appropriate proceedings promptly
instituted and diligently conducted;

 

(c)
statutory Liens of landlords, banks and securities intermediaries (and rights of set-off), of carriers, warehousemen, mechanics,
repairmen, workmen and materialmen, and other Liens imposed by law (other than any such Lien imposed pursuant to Section 430(k)
of the Internal Revenue Code), in each case incurred in the ordinary course of business (i) for amounts not yet overdue or (ii)
for amounts that are overdue and that (in the case of any such amounts overdue for a period in excess of five (5) days) are being
contested in good faith by appropriate proceedings, so long as such reserves or other appropriate provisions, if any, as shall
be required by GAAP shall have been made for any such contested amounts;

 

(d)
Liens incurred in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other
types of social security, or to secure the performance of tenders, statutory obligations, surety 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 or other Indebtedness), so long as no foreclosure, sale or similar proceedings have been commenced
with respect to any portion of the Collateral on account thereof;

 

(e)
easements, rights-of-way, restrictions, encroachments, and other minor defects or irregularities in title, in each case which
do not and shall not interfere in any material respect with the ordinary conduct of the business of Parent or any of its Subsidiaries
and that, in the aggregate, do not materially detract from the value of the property subject thereto;

 

(f)
any interest or title of a lessor or sublessor under any lease of real estate permitted hereunder and covering only the assets
so leased;

 

    	 	73	 

    	 

    

 

(g)
purported Liens evidenced by the filing of precautionary UCC financing statements (i) relating solely to operating leases of personal
property entered into in the ordinary course of business or (ii) to evidence the sale of assets in the ordinary course of business;

 

(h)
any zoning or similar law or right reserved to or vested in any governmental office or agency to control or regulate the use of
any real property;

 

(i)
Liens outstanding on the RestatementSecond
Amendment Effective Date and described in Schedule 6.02;

 

(j)
Liens securing Indebtedness permitted by Section 6.01(h); provided that any such Lien shall encumber only those assets
which secured such Indebtedness at the time such assets were acquired by Parent or its Subsidiaries;

 

(k)
other Liens on assets other than the Collateral securing Indebtedness in an aggregate amount not to exceed $75,000,000 at any
time outstanding; provided that the aggregate fair market value of assets in respect of which Liens may be granted pursuant
to this clause (k) shall not exceed 150% of the aggregate amount of Indebtedness secured by such Liens;

 

(l)
Liens securing Non-Recourse Indebtedness;

 

(m)
Liens securing Permitted Funding Indebtedness other than Permitted Servicing Advance Facility Indebtedness so long as any such
Lien shall encumber only (i) the assets originated, acquired or funded with the proceeds of such Indebtedness and
(ii) any intangible contract rights and other documents, records and assets directly related to the assets set
forth in clause (i) and any proceeds thereof and (iii) reserve accounts
with deposits not in excess of 3% of the Indebtedness secured thereby;

 

(n)
Liens on Servicing Advances, any intangible contract rights and other documents, records and assets directly related to the foregoing
assets and any proceeds thereof securing deferred servicing fees, Permitted Servicing Advance Facility Indebtedness, Permitted
Securitization Indebtedness or Non-Recourse Indebtedness;

 

(o)
Liens on the Equity Interests of any Subsidiary and the proceeds thereof securing Non-Recourse Indebtedness of such Subsidiary;

 

(p)
Liens on Securitization Assets, any intangible contract rights and other documents, records and assets directly related to the
foregoing assets and any proceeds thereof incurred in connection with Permitted Securitization Indebtedness or permitted guarantees
thereof;

 

(q)
Liens securing Indebtedness permitted pursuant to Section 6.01(n); provided that any such Lien shall encumber only the
asset acquired with the proceeds of such Indebtedness;

 

(r)
pledges or deposits in connection with workers’ compensation, unemployment insurance and other social security legislation;

 

(s)
assignments of past due receivables solely for the purpose of collection;

 

(t)
judgment Liens so long as the related judgment does not constitute an Event of Default;

 

(u)
Liens on cash and Cash Equivalents to secure obligations to Specified Government Entities;

 

(v)
Liens arising from precautionary UCC financing statement filings regarding Non-Debt Transactions;

 

    	 	74	 

    	 

    

 

(w)
Liens on the Collateral securing Junior Indebtedness in the form of Second Lien Indebtedness incurred pursuant to Section 6.01(o),
subject to the Junior Lien Intercreditor Agreement;

 

(x)
Liens in favor of collecting banks arising under Section 4-210 of the UCC (or, with respect to collecting banks located in the
State of New York, under Section 4-208 of the UCC) and other banker’s Liens arising by operation of Law;

 

(y)
customary rights of set-off, revocation, refund, chargeback or similar rights or remedies of banks and other similar financial
institutions arising under deposit agreements or relating to ordinary course cash management arrangements or under the UCC as
to deposit or securities accounts (including funds or other assets credited thereto or funds maintained therewith);

 

(z)
Liens arising from the right of distress enjoyed by landlords or Liens otherwise granted to landlords (including, without limitation,
Liens over rent deposits), in either case, to secure the payment of arrears of rent in respect of leased properties;

 

(aa)
Liens that are customary contractual rights of setoff relating to pooled deposit or sweep accounts of the Borrower or any of its
Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business;

 

(bb)
(x) Liens
securing Indebtedness permitted pursuant to Section 6.01(i); and

 

(cc)
(y) other
Liens securing obligations not exceeding $25,000,000 at any time outstanding.

 

(each
of (a) - (y), a “Permitted Lien”).

 

The
Borrower covenants and agrees that, so long as any Commitment is in effect and until payment in full of all Obligations (other
than (x) obligations under Hedge Agreements and (y) unasserted contingent indemnification obligations), the Borrower shall not,
nor shall it cause or permit any of its Subsidiaries to, directly or indirectly enter into, create, incur, assume or suffer to
exist any consensual Liens of any kind on the (i) Excluded SGE Collateral (ii)
Equity Interests of non-wholly-owned Subsidiaries that cannot be pledged as a result of contractual restrictions (with respect
to contracts with a third party, other than the Borrower or a Guarantor) and (ii) Equity Interests of Securitization
Entities that cannot be pledged as a result of restrictions in its or its parent’s Organizational Documents or documents
governing its Indebtedness without, in each case, first granting to the Collateral Agent, for the benefit of the Secured Parties,
a First Priority Lien on such assets as security for the Obligations.

 

Section
6.03 No Further Negative Pledges. Except with respect to (a) this Agreement and the other Loan Documents, (b) specific
property encumbered to secure payment of particular Indebtedness that is permitted to be incurred and secured under this Agreement
or to be sold pursuant to an executed agreement with respect to a sale of assets permitted hereunder, (c) restrictions by reason
of customary provisions restricting assignments, subletting or other transfers contained in leases, licenses and similar agreements
entered into in the ordinary course of business (provided that such restrictions are limited to the property or assets
secured by such Liens or the property or assets subject to such leases, licenses or similar agreements, as the case may be), (d)
restrictions by reason of customary provisions restricting assignments, subservicing, subcontracting or other transfers contained
in Servicing Agreements (provided that such restrictions are limited to the individual Servicing Agreement and related
agreements or the property and/or assets subject to such agreements, as the case may be), (e) restrictions set forth in any agreement
governing Junior Indebtedness that are, taken as a whole, in the good faith judgment of the Borrower, no more restrictive with
respect to the Borrower or any Subsidiary than customary market terms for Indebtedness of such type (and, in any event, are no
more restrictive than the restrictions in this Agreement), so long as the Borrower shall have determined in good faith that such
restrictions will not affect its obligation or ability to make any payments required hereunder and (f) restrictions by reason
of customary provisions restricting liens, assignments, subservicing, subcontracting or other transfers contained in agreements
with any Specified Government Entity relating to the origination, sale, securitization and servicing of mortgage loans (provided
that such restrictions are limited to the individual agreement and related agreements and/or the property or assets subject
to such agreements, as the case may be), no Loan Party nor any of its Subsidiaries shall enter into any agreement prohibiting
the creation or assumption of any Lien upon any of its properties or assets, whether now owned or hereafter acquired, to secure
the Obligations (other than an agreement of a Securitization Entity that prohibits such Securitization Entity from creating or
assuming any Lien upon its properties or assets to secure the Obligations).

 

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Section
6.04 Restricted Junior Payments. Directly or indirectly through any manner or means, declare, order, pay, make or set
apart, or agree to declare, order, pay, make or set apart, any sum for any Restricted Junior Payment except that (a) any
Subsidiary of Parent may declare and pay dividends or make other distributions ratably to Parent or any Subsidiary of Parent
and to each other holder of equity therein, (b) the Borrower or Parent may purchase stock or
options of the Parent or purchase, prepay, redeem or defease any Second Lien Notes in an aggregate principal amount not to
exceed $50,000,000, (c) the Parent and its Subsidiaries may undertake and perform the Exchange Offer Transactions, (d) the Parent
or its Subsidiaries may make Restricted Junior Payments in an amount not to exceed the Available
Amount and (e10,000,000 after the Second
Amendment Effective Date and (c) the Parent and its Subsidiaries may make any Restricted Junior Payment described
in clause (iv) of the definition thereof with the Net Cash Proceeds of Junior Indebtedness issued or incurred to make such
payment; provided that in the case of clauses (db)
and (ec)
of this Section 6.04, both immediately prior to and after giving effect thereto (i) no Default shall exist or result
therefrom and (ii) the Parent shall be in compliance with Section 6.07, on a pro forma basis after giving effect to such
Restricted Junior Payment as of the last day of the most recently ended Fiscal Quarter for which financial statements have
been delivered pursuant to Section 5.01(b) or (c).

 

Section
6.05 Restrictions on Subsidiary Distributions. Except as provided herein, create or otherwise cause or suffer to exist
or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of Parent other than
a Loan Party or any Securitization Entity to (a) pay dividends or make any other distributions on any of such Subsidiary’s
Equity Interests owned by Parent or any other Subsidiary of Parent, (b) repay or prepay any Indebtedness owed by such Subsidiary
to Parent or any other Subsidiary of Parent, (c) make loans or advances to Parent or any other Subsidiary of Parent or (d) transfer,
lease or license any of its property to Parent or any other Subsidiary of Parent other than restrictions (i) in agreements evidencing
Indebtedness permitted by Section 6.01(h) or (n) that impose restrictions on the property so acquired, (ii) by reason of customary
provisions restricting assignments, subletting or other transfers contained in leases, licenses, joint venture agreements and
similar agreements entered into in the ordinary course of business, (iii) by reason of customary net worth provisions contained
in leases and other agreements that do not evidence Indebtedness entered into by Parent or a Subsidiary of Parent in the ordinary
course of business, (iv) that are or were created by virtue of any transfer of, agreement to transfer or option or right with
respect to any property not otherwise prohibited under this Agreement, (v) set forth in any agreement governing Junior Indebtedness
that are, taken as a whole, in the good faith judgment of the Borrower, no more restrictive with respect to the Borrower or any
Subsidiary than customary market terms for Indebtedness of such type (and, in any event, are no more restrictive than the restrictions
in this Agreement), so long as the Borrower shall have determined in good faith that such restrictions will not affect its obligation
or ability to make any payments required hereunder or (vi) described on Schedule 6.05.

 

Section
6.06 Investments. Directly or indirectly, make or own any Investment in any Person, including any Joint Venture, except:

 

(a)
Investments in Cash and Cash Equivalents;

 

(b)
equity Investments owned as of the RestatementSecond
Amendment Effective Date in any Subsidiary and Investments made after the RestatementSecond
Amendment Effective Date in Parent, the Borrower and any Subsidiary Guarantor;

 

(c)
Investments (i) in any Securities received in satisfaction or partial satisfaction thereof from financially troubled account debtors
and (ii) deposits, prepayments and other credits to suppliers made in the ordinary course of business consistent with the past
practices of Parent and its Subsidiaries;

 

(d)
intercompany loans to the extent permitted under Section 6.01(b) and other Investments in Subsidiaries of Parent which are not
the Borrower or Subsidiary Guarantors; provided that such Investments (including through intercompany loans and any Permitted
Acquisition) by a Loan Party in Subsidiaries of Parent other than the Borrower or Subsidiary Guarantors shall not exceed at any
time an aggregate amount $75,000,000 or, in the case of any Foreign Subsidiary, $37,500,000;

 

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(e)
(x) Consolidated Capital Expenditures with respect to the Borrower and its Subsidiaries not in excess of (i) $50,000,000 for each
Fiscal Year plus (ii) the Available Amount that is Not Otherwise Applied; provided that the amount in clause (i) for any Fiscal
Year shall be increased by an amount equal to the excess, if any, of such amount for the immediately preceding Fiscal Year over
the actual amount of Consolidated Capital Expenditures for such previous Fiscal Year and (y) Investments described in clause (i)
of the proviso to the definition of “Consolidated Capital Expenditures”;

 

(f)
loans and advances to employees of Parent and its Subsidiaries made in the ordinary course of business in an aggregate principal
amount not to exceed $3,000,000;

 

(g)
Permitted Acquisitions by Borrower or any Guarantor permitted pursuant to Section 6.08;

 

(h)
Investments described in Schedule 6.06;

 

(i)
Hedge Agreements which constitute Investments;

 

(j)
other Investments by Parent and its Subsidiaries in an aggregate amount not to exceed the sum of (i) $20,000,000 at any time outstanding
and (ii) if, on a pro forma basis after giving effect to such Investment as of the last day of the most recently ended Fiscal
Quarter for which financial statements have been delivered pursuant to Section 5.01(b) or (c), the Parent is in compliance with
Section 6.07, the Available Amount that is Not Otherwise Applied;

 

(k)
Investments by Parent or any Subsidiary of Parent in a Person, if as a result of such Investment (i) such Person becomes a Subsidiary
Guarantor that is engaged in Core Business Activities or (ii) such Person is merged, consolidated or amalgamated with or into,
or transfers or conveys substantially all of its assets to, or is liquidated into, Parent,
the Borrower or a Subsidiary Guarantor;

 

(l)
Investments by Parent or any Subsidiary of Parent in Securitization Entities, Warehouse Facility Trusts and MSR Facility Trusts
and Investments in mortgage-related securities or charge-off receivables in the ordinary course of business;

 

(m)
Investments arising out of purchases of all remaining outstanding asset-backed securities of any Securitization Entity and/or
Securitization Assets of any Securitization Entity for the purpose of relieving Parent or a Subsidiary of Parent of the administrative
expense of servicing such Securitization Entity;

 

(n)
Investments in MSRs;

 

(o)
Investments in Residual Interests in connection with any Securitization, Warehouse Facility or MSR Facility;

 

(p)
Investments in and making of Servicing Advances, residential or commercial mortgage loans and Securitization Assets (whether or
not made in conjunction with the acquisition of MSRs);

 

(q)
Investments or guarantees of Indebtedness of one or more entities the sole purpose of which is to originate, acquire, securitize
and/or sell loans that are purchased, insured, guaranteed or securitized by any Specified Government Entity; provided that
the aggregate amount of (i) Investments in such entities plus (ii) the aggregate principal amount of Indebtedness of such entities
that are not Wholly-Owned Subsidiaries which is recourse to Parent, the Borrower or any Subsidiary Guarantor shall not exceed
an amount equal to 10% of Parent’s GAAP book equity as of any date of determination;

 

    	 	77	 

    	 

    

 

(r)
Non-cash consideration received, to the extent permitted by the Loan Documents in connection with the sale of property permitted
by this Agreement;

 

(s)
Investments in securities in an aggregate amount not exceeding $100,000,000 at any one time;

 

(t)
Investments in entities that primarily hold and invest in MSRs or related assets in an aggregate amount not exceeding $200,000,000
at any one time; and

 

(tu)
Investments by Parent or any of its Subsidiaries in a Subsidiary (other than the Borrower) that is not a Subsidiary Guarantor,
Excluded Subsidiary or Securitization Entity, provided that after giving pro forma effect to such Investment, Parent shall
be in compliance with Section 5.10.

 

Notwithstanding
the foregoing, the Exchange Offer Transactions may be consummated and in no event
shall any Loan Party make any Investment which results in or facilitates in any manner any Restricted Junior Payment not otherwise
permitted under the terms of Section 6.04.

 

Section
6.07 Financial CovenantCovenants.
In the case of Parent, permit the 

 

(a)
Minimum Unrestricted Cash. Permit Unrestricted Cash as of the last day of any Fiscal Quarter to be less than $125,000,000.

 

(b)
First Lien LTV Ratio.
Permit the First Lien LTV Ratio as of the last date of any Fiscal Quarter to exceed 40%.

 

(c)
Unencumbered Coverage Ratio. Permit the Unencumbered Coverage Ratio as
of the last date of any Fiscal Quarter to exceed 40%.(i)
ending on or before December 31, 2020, to exceed 2.00 to 1.0 and (ii) thereafter, to exceed 2.25 to 1.00.

 

For
purposes of calculating the Unencumbered Coverage Ratio, any payment on the Loans made after the last day of the relevant Fiscal
Quarter, but on or prior to the date of the delivery of the corresponding Compliance Certificate will, solely for purposes of
calculating the Unencumbered Coverage Ratio, be deemed to have been made prior to the end of such Fiscal Quarter.

 

Section
6.08 Fundamental Changes; Disposition of Assets; Acquisitions. Enter into any transaction of merger or consolidation, or
liquidate, wind-up or dissolve itself (or suffer any liquidation or dissolution), or convey, sell, lease or license, exchange,
transfer or otherwise dispose of, in one transaction or a series of transactions, all or any part of its business, assets or property
of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible, whether now owned or hereafter acquired,
leased or licensed, or acquire by purchase or otherwise (other than purchases or other acquisitions of inventory, materials and
equipment and Consolidated Capital Expenditures in the ordinary course of business) the business, property or fixed assets of,
or stock or other evidence of beneficial ownership of, any Person or any division or line of business or other business unit of
any Person, except:

 

(a)
any Subsidiary of Parent (other than the Borrower) may be merged with or into the Borrower or any other Subsidiary of Parent,
or be liquidated, wound up or dissolved, or all or any part of its business, assets or property may be conveyed, sold, leased,
transferred or otherwise disposed of, in one transaction or a series of transactions, to Parent, the Borrower or any Subsidiary
Guarantor; provided that in the case of any such transaction, (i) the Borrower or such Subsidiary Guarantor, as applicable
shall be the continuing or surviving Person in any such transaction involving the Borrower and (ii) subject to the preceding clause
(i) a Subsidiary Guarantor shall be the continuing or surviving Person in any such transaction involving a Subsidiary Guarantor;

 

(b)
any Subsidiary of Parent (other than the Borrower) may dispose of any or all of its assets (upon voluntary liquidation or otherwise)
to Parent, the Borrower or any Subsidiary Guarantor;

 

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(c)
sales or other dispositions of assets that do not constitute Asset Sales;

 

(d)
other Asset Sales; provided that (1) the consideration received for such assets shall be in an amount at least equal to
the fair market value thereof (determined in good faith by the board of directors of the Borrower (or similar governing body)),
(2) no less than 75% of such consideration shall be paid in Cash, and (3) the Net Cash Proceeds thereof shall be applied as required
by Section 2.12(b);

 

(e)
disposals of obsolete, worn out or surplus property in the ordinary course of business;

 

(f)
Permitted Acquisitions;

 

(g)
Investments made in accordance with Section 6.06;

 

(h)
dispositions of Cash Equivalents in the ordinary course of business;

 

(i)
sales of whole loans for cash;

 

(j)
the Borrower may (in one or a series of transactions) consolidate with or merge with or into, or convey, transfer or lease all
or substantially all its assets to, the Parent, or any Subsidiary of Parent (or effect the foregoing through a reorganization
or other restructuring involving one or more Subsidiaries of Parent) that is, in each case, a Wholly-Owned Subsidiary, is validly
existing under the laws of the United States of America or any jurisdiction thereof, so long as:

 

(A)
the resulting, surviving or transferee Person (the “Successor Borrower”) (x) is (or will be) licensed to perform
servicing of mortgage loans and (y) will expressly assume all the obligations of the Borrower under this Agreement and the other
Loan Documents;

 

(B)
immediately after giving effect to such transaction, no Default or Event of Default would exist that shall not have been cured
or waived;

 

(C)
each Loan Party (unless it is the other party to the transactions above, in which case clause (A) shall apply) shall have by supplement
to this Agreement (or by a reaffirmation agreement, which may be omnibus) confirmed that its guarantee and grant of security interests
shall apply to such Person’s obligations in respect of the Loan Documents;

 

(D)
to the extent necessary, an amendment or consent to the existing Acknowledgement Agreements have been obtained;

 

(E)
the Borrower shall have delivered to the Administrative Agent (i) notice of such merger, conveyance, transfer or lease at least
20 days prior to such event and (ii) satisfactory “know your customer” documentation at least 10 days prior to such
event to the extent reasonably requested in writing at least 15 days prior to the effectiveness of such merger, conveyance, transfer
or lease;

 

(F)
to the extent the Successor Borrower was not a Loan Party immediately prior to becoming the Successor Borrower, such Person shall
have delivered to the Administrative Agent and Collateral Agent (i) a Counterpart Agreement with such changes as may be requested
by or acceptable to the Administrative Agent, (ii) a Pledge Supplement to the Security Agreement or such other agreements, documents
and instruments as the Administrative Agent may reasonably request in order to grant and perfect a First Priority Lien in favor
of the Collateral Agent in substantially all assets of such Person (other than any assets excluded pursuant to Section 2.2 of
the Security Agreement) and (iii) all such documents, instruments, agreements, and certificates as are similar to those described
in Sections 3.01(b), (f) and (g), in each case, in form and substance reasonably acceptable to the Administrative Agent; and

 

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(G)
the Parent shall have delivered to the Administrative Agent a certificate of an Authorized Officer of Parent certifying compliance
with the provisions of this clause (j); and

 

(k)
Asset Sales set forth on Schedule 6.08.

 

Upon
the request of the Borrower, the Administrative Agent or Collateral Agent, as applicable, shall promptly execute and deliver to
the Borrower any and all documents or instruments necessary to release any Lien encumbering any items of Collateral that are subject
to a conveyance, sale, lease, exchange, transfer or other disposition pursuant to this Section 6.08 or otherwise permitted pursuant
to this Agreement.

 

Section
6.09 Disposal of Subsidiary Interests. Except for any sale of all of its interests in the Equity Interests of any of its
Material Subsidiaries in compliance with the provisions of Section 6.08, (a) directly or indirectly sell, assign, pledge or otherwise
encumber or dispose of any Equity Interests of any of its Material Subsidiaries, except to qualified directors if required by
applicable law, or to a Borrower or a Guarantor; or (b) permit any of its Subsidiaries directly or indirectly to sell, assign,
pledge or otherwise encumber or dispose of any Equity Interests of any of its Material Subsidiaries, except to another Loan Party
(subject to the restrictions on such disposition otherwise imposed hereunder) or to qualifyqualified
directors if required by applicable law.

 

Section
6.10 Sales and Lease-Backs. Directly or indirectly, become or remain liable as lessee or as a guarantor or other surety
with respect to any lease of any property (whether real, personal or mixed), whether now owned or hereafter acquired, which such
Loan Party (a) has sold or transferred or is to sell or to transfer to any other Person (other than Parent or any of its Subsidiaries),
(b) intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by
such Loan Party to any Person (other than Parent or any of its Subsidiaries) in connection with such lease or (c) is to be sold
or transferred by such Loan Party to such Person or to any other Person to whom funds have been or are to be advanced by such
Person on the security of such property or rental obligations of such Loan Party, other than transactions where any related sale
of assets is permitted under Section 6.08, any related Indebtedness is permitted to be incurred under Section 6.01 and any Lien
in connection therewith is permitted to be granted under Section 6.02.

 

Section
6.11 Transactions with Shareholders and Affiliates. Directly or indirectly, enter into or permit to exist any transaction
(including the purchase, sale, lease or exchange of any property, the rendering of any service or the payment of any management,
advisory or similar fees) with any Affiliate of Parent on terms that are less favorable to Parent or that Subsidiary, as the case
may be, than those that might be obtained in a comparable arm’s length transaction at the time from a Person that is not
an Affiliate; provided that the foregoing restriction shall not apply to (a) any transaction otherwise permitted by this
Article VI between Parent and any one or more Subsidiaries of Parent or among Subsidiaries of Parent; (b) reasonable and customary
fees paid to members of the board of directors (or similar governing body) of Parent and its Subsidiaries; (c) compensation arrangements
for officers and other employees of Parent and its Subsidiaries entered into in the ordinary course of business; (d) transactions
described in Schedule 6.11; and (e) Restricted Junior Payments permitted by Section 6.04.

 

Section
6.12 Conduct of Business. None of Parent or any of its Subsidiaries shall engage in any material line of business substantially
different from the Core Business Activities.

 

Section
6.13 Modifications of Junior Indebtedness. Amend, modify, waive or otherwise change, or consent or agree to any amendment,
modification, waiver or other change to, any of the terms of any Junior Indebtedness in such a manner that would cause the terms
of such Junior Indebtedness from satisfying the requirements of clauses (i) through (vi) of the definition of “Junior Indebtedness.”

 

Section
6.14 Amendments or Waivers of Organizational Documents. Agree to any material amendment, restatement, supplement or other
modification to, or waiver of, any of the Organizational Documents of Parent, the Borrower or any Subsidiary Guarantor after
the Restatement Effective Date that would materially adversely impact the Lenders without in each case obtaining
the prior written consent of the Required Lenders to such amendment, restatement, supplement or other modification or waiver.

 

Section
6.15 Fiscal Year. Change its Fiscal Year-end from December 31 or change its method of determining Fiscal Quarters.

 

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ARTICLE
VII

 

GUARANTY

 

Section
7.01 Guaranty of the Obligations. Subject to the provisions of Section 7.02, Parent and the Subsidiary Guarantors jointly
and severally hereby irrevocably and unconditionally guaranty to the Administrative Agent for the ratable benefit of the Beneficiaries
the due and punctual payment in full of all Obligations, excluding, with respect to any Guarantor at any time, Excluded Swap Obligations
with respect to such Guarantor at such time, when the same shall become due, whether at stated maturity, by required prepayment,
declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic
stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”).

 

Section
7.02 Contribution by Subsidiary Guarantors. All Subsidiary Guarantors desire to allocate among themselves (collectively,
the “Contributing Guarantors”), in a fair and equitable manner, their obligations arising under this Guaranty.
Accordingly, in the event any payment or distribution is made on any date by a Subsidiary Guarantor (a “Funding Guarantor”)
under this Guaranty such that its Aggregate Payments exceeds its Fair Share as of such date, such Funding Guarantor shall be entitled
to a contribution from each of the other Contributing Guarantors in an amount sufficient to cause each Contributing Guarantor’s
Aggregate Payments to equal its Fair Share as of such date. “Fair Share” means, with respect to a Contributing
Guarantor as of any date of determination, an amount equal to (a) the ratio of (i) the Fair Share Contribution Amount with respect
to such Contributing Guarantor to (ii) the aggregate of the Fair Share Contribution Amounts with respect to all Contributing Guarantors
multiplied by (b) the aggregate amount paid or distributed on or before such date by all Funding Guarantors under this Guaranty
in respect of the Guaranteed Obligations. “Fair Share Contribution Amount” means, with respect to a Contributing
Guarantor as of any date of determination, the maximum aggregate amount of the obligations of such Contributing Guarantor under
this Guaranty that would not render its obligations hereunder or thereunder subject to avoidance as a fraudulent transfer or conveyance
under Section 548 of Title 11 of the United States Code or any comparable applicable provisions of state law; provided that
solely for purposes of calculating the “Fair Share Contribution Amount” with respect to any Contributing Guarantor
for purposes of this Section 7.02, any assets or liabilities of such Contributing Guarantor arising by virtue of any rights to
subrogation, reimbursement or indemnification or any rights to or obligations of contribution hereunder shall not be considered
as assets or liabilities of such Contributing Guarantor. “Aggregate Payments” means, with respect to a Contributing
Guarantor as of any date of determination, an amount equal to (1) the aggregate amount of all payments and distributions made
on or before such date by such Contributing Guarantor in respect of this Guaranty (including in respect of this Section 7.02),
minus (2) the aggregate amount of all payments received on or before such date by such Contributing Guarantor from the
other Contributing Guarantors as contributions under this Section 7.02. The amounts payable as contributions hereunder shall be
determined as of the date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation
among Contributing Guarantors of their obligations as set forth in this Section 7.02 shall not be construed in any way to limit
the liability of any Contributing Guarantor hereunder. Each Subsidiary Guarantor is a third party beneficiary to the contribution
agreement set forth in this Section 7.02.

 

Section
7.03 Payment by Guarantors. Subject to Section 7.02, Guarantors hereby jointly and severally agree, in furtherance of the
foregoing and not in limitation of any other right which any Beneficiary may have at law or in equity against any Guarantor by
virtue hereof, that upon the failure of the Borrower to pay any of the Guaranteed Obligations when and as the same shall become
due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that
would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)),
Guarantors shall upon demand pay, or cause to be paid, in Cash, to the Administrative Agent for the ratable benefit of Beneficiaries,
an amount equal to the sum of the unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid
interest on such Guaranteed Obligations (including interest which, but for the Borrower’s becoming the subject of a case
under the Bankruptcy Code, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against the Borrower
for such interest in the related bankruptcy case) and all other Guaranteed Obligations then owed to Beneficiaries as aforesaid.

 

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Section
7.04 Liability of Guarantors Absolute. Each Guarantor agrees that its obligations hereunder are irrevocable, absolute,
independent and unconditional and shall not be affected by any circumstance which constitutes a legal or equitable discharge of
a guarantor or surety other than payment in full of the Guaranteed Obligations. In furtherance of the foregoing and without limiting
the generality thereof, each Guarantor agrees as follows:

 

(a)
this Guaranty is a guaranty of payment when due and not of collectability;

 

(b)
the Administrative Agent may enforce this Guaranty upon the occurrence of an Event of Default notwithstanding the existence of
any dispute between the Borrower and any Beneficiary with respect to the existence of such Event of Default;

 

(c)
the obligations of each Guarantor hereunder are independent of the obligations of the Borrower and the obligations of any other
guarantor (including any other Guarantor) of the obligations of the Borrower, and a separate action or actions may be brought
and prosecuted against such Guarantor whether or not any action is brought against the Borrower or any of such other guarantors
and whether or not the Borrower is joined in any such action or actions;

 

(d)
payment by any Guarantor of a portion, but not all, of the Guaranteed Obligations shall in no way limit, affect, modify or abridge
any Guarantor’s liability for any portion of the Guaranteed Obligations which has not been paid. Without limiting the generality
of the foregoing, if the Administrative Agent is awarded a judgment in any suit brought to enforce any Guarantor’s covenant
to pay a portion of the Guaranteed Obligations, such judgment shall not be deemed to release such Guarantor from its covenant
to pay the portion of the Guaranteed Obligations that is not the subject of such suit, and such judgment shall not, except to
the extent satisfied by such Guarantor, limit, affect, modify or abridge any other Guarantor’s liability hereunder in respect
of the Guaranteed Obligations;

 

(e)
any Beneficiary, upon such terms as it deems appropriate, without notice or demand and without affecting the validity or enforceability
hereof or giving rise to any reduction, limitation, impairment, discharge or termination of any Guarantor’s liability hereunder,
from time to time may (i) renew, extend, accelerate, increase the rate of interest on, or otherwise change the time, place, manner
or terms of payment of the Guaranteed Obligations; (ii) settle, compromise, release or discharge, or accept or refuse any offer
of performance with respect to, or substitutions for, the Guaranteed Obligations or any agreement relating thereto and/or subordinate
the payment of the same to the payment of any other obligations; (iii) request and accept other guaranties of the Guaranteed Obligations
and take and hold security for the payment hereof or the Guaranteed Obligations; (iv) release, surrender, exchange, substitute,
compromise, settle, rescind, waive, alter, subordinate or modify, with or without consideration, any security for payment of the
Guaranteed Obligations, any other guaranties of the Guaranteed Obligations, or any other obligation of any Person (including any
other Guarantor) with respect to the Guaranteed Obligations; (v) enforce and apply any security now or hereafter held by or for
the benefit of such Beneficiary in respect hereof or the Guaranteed Obligations and direct the order or manner of sale thereof,
or exercise any other right or remedy that such Beneficiary may have against any such security, in each case as such Beneficiary
in its discretion may determine consistent herewith or the applicable Hedge Agreement and any applicable security agreement, including
foreclosure on any such security pursuant to one or more judicial or non-judicial sales, whether or not every aspect of any such
sale is commercially reasonable, and even though such action operates to impair or extinguish any right of reimbursement or subrogation
or other right or remedy of any Guarantor against the Borrower or any security for the Guaranteed Obligations; and (vi) exercise
any other rights available to it under the Loan Documents or any Hedge Agreements; and

 

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(f)
this Guaranty and the obligations of Guarantors hereunder shall be valid and enforceable and shall not be subject to any reduction,
limitation, impairment, discharge or termination for any reason (other than payment in full of the Guaranteed Obligations), including
the occurrence of any of the following, whether or not any Guarantor shall have had notice or knowledge of any of them: (i) any
failure or omission to assert or enforce or agreement or election not to assert or enforce, or the stay or enjoining, by order
of court, by operation of law or otherwise, of the exercise or enforcement of, any claim or demand or any right, power or remedy
(whether arising under the Loan Documents or any Hedge Agreements, at law, in equity or otherwise) with respect to the Guaranteed
Obligations or any agreement relating thereto, or with respect to any other guaranty of or security for the payment of the Guaranteed
Obligations; (ii) any rescission, waiver, amendment or modification of, or any consent to departure from, any of the terms or
provisions (including provisions relating to events of default) hereof, any of the other Loan Documents, any of the Hedge Agreements
or any agreement or instrument executed pursuant thereto, or of any other guaranty or security for the Guaranteed Obligations,
in each case whether or not in accordance with the terms hereof or such Loan Document, such Hedge Agreement or any agreement relating
to such other guaranty or security; (iii) the Guaranteed Obligations, or any agreement relating thereto, at any time being found
to be illegal, invalid or unenforceable in any respect; (iv) the application of payments received from any source (other than
payments received pursuant to the other Loan Documents or any of the Hedge Agreements or from the proceeds of any security for
the Guaranteed Obligations, except to the extent such security also serves as collateral for indebtedness other than the Guaranteed
Obligations) to the payment of indebtedness other than the Guaranteed Obligations, even though any Beneficiary might have elected
to apply such payment to any part or all of the Guaranteed Obligations; (v) any Beneficiary’s consent to the change, reorganization
or termination of the corporate structure or existence of Parent, Borrower or any of their Subsidiaries and to any corresponding
restructuring of the Guaranteed Obligations; (vi) any failure to perfect or continue perfection of a security interest in any
collateral which secures any of the Guaranteed Obligations; (vii) any defenses, set-offs or counterclaims which the Borrower may
allege or assert against any Beneficiary in respect of the Guaranteed Obligations, including failure of consideration, breach
of warranty, payment, statute of frauds, statute of limitations, accord and satisfaction and usury; and (viii) any other act or
thing or omission, or delay to do any other act or thing, which may or might in any manner or to any extent vary the risk of any
Guarantor as an obligor in respect of the Guaranteed Obligations.

 

Section
7.05 Waivers by Guarantors. Each Guarantor hereby waives, for the benefit of Beneficiaries: (a) any right to require any
Beneficiary, as a condition of payment or performance by such Guarantor, to (i) proceed against the Borrower, any other guarantor
(including any other Guarantor) of the Guaranteed Obligations or any other Person, (ii) proceed against or exhaust any security
held from the Borrower, any such other guarantor or any other Person, (iii) proceed against or have resort to any balance of any
Deposit Account or credit on the books of any Beneficiary in favor of the Borrower or any other Person, or (iv) pursue any other
remedy in the power of any Beneficiary whatsoever; (b) any defense arising by reason of the incapacity, lack of authority or any
disability or other defense of the Borrower or any other Guarantor including any defense based on or arising out of the lack of
validity or the unenforceability of the Guaranteed Obligations or any agreement or instrument relating thereto or by reason of
the cessation of the liability of the Borrower or any other Guarantor from any cause other than payment in full of the Guaranteed
Obligations; (c) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither
larger in amount nor in other respects more burdensome than that of the principal; (d) any defense based upon any Beneficiary’s
errors or omissions in the administration of the Guaranteed Obligations, except behavior which amounts to bad faith; (e) (i) any
principles or provisions of law, statutory or otherwise, which are or might be in conflict with the terms hereof and any legal
or equitable discharge of such Guarantor’s obligations hereunder, (ii) the benefit of any statute of limitations affecting
such Guarantor’s liability hereunder or the enforcement hereof, (iii) any rights to set-offs, recoupments and counterclaims,
and (iv) promptness, diligence and any requirement that any Beneficiary protect, secure, perfect or insure any security interest
or lien or any property subject thereto; (f) notices, demands, presentments, protests, notices of protest, notices of dishonor
and notices of any action or inaction, including acceptance hereof, notices of default hereunder, the Hedge Agreements or any
agreement or instrument related thereto, notices of any renewal, extension or modification of the Guaranteed Obligations or any
agreement related thereto, notices of any extension of credit to the Borrower and notices of any of the matters referred to in
Section 7.04 and any right to consent to any thereof; and (g) any defenses or benefits that may be derived from or afforded by
law which limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms hereof.

 

Section
7.06 Guarantors’ Rights of Subrogation, Contribution, Etc.

 

(a)
Subject to the waiver described in clause (b) below, to the extent the Guarantors do not otherwise possess a right of subrogation
against the Borrower at equity, by statute, under common law or otherwise, the Guarantors and the Borrower agree that, for valid
consideration given, the Guarantors shall have such a right of subrogation.

 

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(b)
Until the Guaranteed Obligations shall have been indefeasibly paid in full, each Guarantor hereby waives any claim, right or remedy,
direct or indirect, that such Guarantor now has or may hereafter have against the Borrower or any other Guarantor or any of its
assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether
such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including (i) any
right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against the Borrower
with respect to the Guaranteed Obligations, (ii) any right to enforce, or to participate in, any claim, right or remedy that any
Beneficiary now has or may hereafter have against the Borrower, and (iii) any benefit of, and any right to participate in, any
collateral or security now or hereafter held by any Beneficiary. In addition, until the Guaranteed Obligations shall have been
indefeasibly paid in full, each Guarantor shall withhold exercise of any right of contribution such Guarantor may have against
any other guarantor (including any other Guarantor) of the Guaranteed Obligations, including any such right of contribution as
contemplated by Section 7.02. Each Guarantor further agrees that, to the extent the waiver or agreement to withhold the exercise
of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent
jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor
may have against the Borrower or against any collateral or security, and any rights of contribution such Guarantor may have against
any such other guarantor, shall be junior and subordinate to any rights any Beneficiary may have against the Borrower, to all
right, title and interest any Beneficiary may have in any such collateral or security, and to any right any Beneficiary may have
against such other guarantor. If any amount shall be paid to any Guarantor on account of any such subrogation, reimbursement,
indemnification or contribution rights at any time when all Guaranteed Obligations shall not have been finally and indefeasibly
paid in full, such amount shall be held in trust for the Administrative Agent on behalf of Beneficiaries and shall forthwith be
paid over to the Administrative Agent for the benefit of Beneficiaries to be credited and applied against the Guaranteed Obligations,
whether matured or unmatured, in accordance with the terms hereof.

 

Section
7.07 Subordination of Other Obligations. Any Indebtedness of the Borrower or any Guarantor now or hereafter held by any
Guarantor (the “Obligee Guarantor”) is hereby subordinated in right of payment to the Guaranteed Obligations,
and any such Indebtedness collected or received by the Obligee Guarantor after an Event of Default has occurred and is Continuing
shall be held in trust for the Administrative Agent on behalf of Beneficiaries and shall forthwith be paid over to the Administrative
Agent for the benefit of Beneficiaries to be credited and applied against the Guaranteed Obligations but without affecting, impairing
or limiting in any manner the liability of the Obligee Guarantor under any other provision hereof.

 

Section
7.08 Continuing Guaranty. This Guaranty is a continuing guaranty and shall remain in effect until all of the Guaranteed
Obligations shall have been paid in full. Each Guarantor hereby irrevocably waives any right to revoke this Guaranty as to future
transactions giving rise to any Guaranteed Obligations.

 

Section
7.09 Authority of Guarantors or the Borrower. It is not necessary for any Beneficiary to inquire into the capacity or powers
of any Guarantor or the Borrower or the officers, directors or any agents acting or purporting to act on behalf of any of them.

 

Section
7.10 Financial Condition of the Borrower. Any Loan may be made to the Borrower or continued from time to time, and any
Hedge Agreements may be entered into from time to time, in each case without notice to or authorization from any Guarantor regardless
of the financial or other condition of the Borrower at the time of any such grant or continuation or at the time such Hedge Agreement
is entered into, as the case may be. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment,
or any Guarantor’s assessment, of the financial condition of the Borrower. Each Guarantor has adequate means to obtain information
from the Borrower on a continuing basis concerning the financial condition of the Borrower and its ability to perform its obligations
under the Loan Documents and the Hedge Agreements, and each Guarantor assumes the responsibility for being and keeping informed
of the financial condition of the Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations.
Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating
to the business, operations or conditions of the Borrower now known or hereafter known by any Beneficiary.

 

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Section
7.11 Bankruptcy, Etc.

 

(a)
So long as any Guaranteed Obligations remain outstanding, no Guarantor shall, without the prior written consent of the Administrative
Agent acting pursuant to the instructions of the Required Lenders, commence or join with any other Person in commencing any bankruptcy,
reorganization or insolvency case or proceeding of or against the Borrower or any other Guarantor. The obligations of Guarantors
hereunder shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated by any case or proceeding, voluntary
or involuntary, involving the bankruptcy, insolvency, receivership, reorganization, liquidation or arrangement of the Borrower
or any other Guarantor or by any defense which the Borrower or any other Guarantor may have by reason of the order, decree or
decision of any court or administrative body resulting from any such proceeding.

 

(b)
Each Guarantor acknowledges and agrees that any interest on any portion of the Guaranteed Obligations which accrues after the
commencement of any case or proceeding referred to in clause (a) above (or, if interest on any portion of the Guaranteed Obligations
ceases to accrue by operation of law by reason of the commencement of such case or proceeding, such interest as would have accrued
on such portion of the Guaranteed Obligations if such case or proceeding had not been commenced) shall be included in the Guaranteed
Obligations because it is the intention of the Guarantors and Beneficiaries that the Guaranteed Obligations which are guaranteed
by the Guarantors pursuant hereto should be determined without regard to any rule of law or order which may relieve the Borrower
of any portion of such Guaranteed Obligations. The Guarantors shall permit any trustee in bankruptcy, receiver, debtor in possession,
assignee for the benefit of creditors or similar Person to pay the Administrative Agent, or allow the claim of the Administrative
Agent in respect of, any such interest accruing after the date on which such case or proceeding is commenced.

 

(c)
In the event that all or any portion of the Guaranteed Obligations are paid by the Borrower, the obligations of the Guarantors
hereunder shall continue and remain in full force and effect or be reinstated, as the case may be, in the event that all or any
part of such payment(s) are rescinded or recovered directly or indirectly from any Beneficiary as a preference, fraudulent transfer
or otherwise, and any such payments which are so rescinded or recovered shall constitute Guaranteed Obligations for all purposes
hereunder.

 

Section
7.12 Discharge of Guaranty Upon Sale of Guarantor. If all of the Equity Interests of any Subsidiary Guarantor or any of
its successors in interest hereunder shall be sold or otherwise disposed of (including by merger or consolidation) in accordance
with the terms and conditions hereof, the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may
be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person
effective as of the time of such sale or other disposition.

 

Section
7.13 Keepwell. Each Qualified ECP Loan Party, jointly and severally, hereby absolutely, unconditionally and irrevocably
undertakes to provide such funds or other support as may be needed from time to time by any other Loan Party hereunder to honor
all of such Loan Party’s obligations under this Agreement in respect of Swap Obligations (provided, however, that each Qualified
ECP Loan Party shall only be liable under this Section 7.13 for the maximum amount of such liability that can be hereby incurred
without rendering its obligations under this Section 7.13, or otherwise under this Agreement, voidable under applicable law, including
applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each
Qualified ECP Loan Party under this Section 7.13 shall remain in full force and effect until all of the Guaranteed Obligations
and all other amounts payable under this Agreement shall have been paid in full and all Commitments have terminated or expired
or been cancelled. Each Qualified ECP Loan Party intends that this Section 7.13 constitute, and this Section 7.13 shall be deemed
to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all purposes
of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

 

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ARTICLE
VIII

EVENTS OF DEFAULT

 

Section
8.01 Events of Default. If any one or more of the following conditions or events occur:

 

(a)
Failure to Make Payments When Due. Failure by the Borrower to pay (i) when due any installment of principal of any Loan,
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 (5) days after the date due; or

 

(b)
Breach of Representations, Etc. Any representation, warranty, certification or other statement made or deemed made by any
Loan Party in any Loan Document or in any statement or certificate at any time given by any Loan Party or any of its Subsidiaries
in writing pursuant hereto or thereto or in connection herewith or therewith shall be false in any material respect as of the
date made or deemed made; or

 

(c)
Breach of Certain Covenants. Failure of any Loan Party to perform or comply with any term or condition contained in Section
2.03, Sections 5.01(b), 5.01(c), 5.01(e) and 5.01(h), Section 5.02 (with respect to the existence of the Loan Parties) or Article
VI; or

 

(d)
Other Defaults Under Loan Documents. Any Loan Party shall default in the performance of or compliance with (A) Sections
5.01(a) or (d), and such default shall not have been remedied or waived within five (5) days after the due date, or (B) any term
contained herein or any of the other Loan Documents, other than any such term referred to in any other Section of this Section
8.01, and such default shall not have been remedied or waived within thirty (30) days after the earlier of (i) an officer of such
Loan Party becoming aware of such default or (ii) receipt by the Borrower of notice from the Administrative Agent or any Lender
of such default; or

 

(e)
Default in Other Agreements. (i) Failure of any Loan Party or any of their respective Subsidiaries to pay when due any
principal of or interest on or any other amount, including any payment in settlement, payable in respect of one or more items
of Indebtedness (other than Indebtedness referred to in Section 8.01(a)) in an individual principal amount (or Net Mark-to-Market
Exposure) of $20,000,000 or more or with an aggregate principal amount (or Net Mark-to-Market Exposure) of $20,000,000 or more,
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 material term of (1) one or more items of Indebtedness in the individual or aggregate principal amounts (or Net Mark-to-Market
Exposure) referred to in clause (i) above or (2) any loan agreement, mortgage, indenture or other agreement relating to such item(s)
of Indebtedness, in each case beyond the grace period, if any, provided therefor, if the effect of such breach or default is to
cause, or to permit the holder or holders of that Indebtedness (or a trustee on behalf of such holder or holders), to cause, that
Indebtedness to become or be declared due and payable (or redeemable) prior to its stated maturity or the stated maturity of any
underlying obligation, as the case may be; provided, however, that, no Event of Default shall occur under this clause
(e) as a result of any such failure to pay, breach or default with respect to any such Indebtedness described in this clause (e),
if such failure to pay, breach or default, as applicable, shall have been cured or waived by the holder or holders of such Indebtedness
(or a trustee on behalf of such holder or holders); or

 

(f)
[Reserved].

 

(g)
[Reserved].

 

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(h)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order
for relief in respect of Parent, Borrower or any Material Subsidiary in an involuntary case under the Bankruptcy Code or under
any other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or
any other similar relief shall be granted under any applicable federal or state law; or (ii) an involuntary case shall be commenced
against Parent, Borrower or any Material Subsidiary under the Bankruptcy Code or under any other applicable bankruptcy, insolvency
or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment
of a receiver, liquidator, sequestrator, trustee, conservator, custodian or other officer having similar powers over Parent, Borrower
or any Material Subsidiary, or over all or a substantial part of its property, shall have been entered; or there shall have occurred
the involuntary appointment of an interim receiver, trustee, conservator or other custodian of Parent, Borrower or any of their
respective Subsidiaries for all or a substantial part of its property; or a warrant of attachment, execution or similar process
shall have been issued against any substantial part of the property of Parent, Borrower or any Material Subsidiary, and any such
event described in this clause (ii) shall continue for sixty (60) days without having been dismissed, bonded or discharged; or

 

(i)
Voluntary Bankruptcy; Appointment of Receiver, Etc. (i) Parent, Borrower or any Material Subsidiary shall have an order
for relief entered with respect to it or shall commence a voluntary case under the Bankruptcy Code or under any other applicable
bankruptcy, insolvency or similar law now or hereafter in effect, or shall consent 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 such law, or shall consent to the appointment
of or taking possession by a receiver, trustee, conservator or other custodian for all or a substantial part of its property;
or Parent, Borrower or any Material Subsidiary shall make any assignment for the benefit of creditors; or (ii) Parent, Borrower
or any Material Subsidiary shall be unable, or shall fail generally, or shall admit in writing its inability, to pay its debts
as such debts become due; or the board of directors (or similar governing body) of Parent, Borrower or any of their respective
Subsidiaries (or any committee thereof) shall adopt any resolution or otherwise authorize any action to approve any of the actions
referred to herein or in Section 8.01(h); or

 

(j)
Judgments and Attachments. Any money judgment, writ or warrant of attachment or similar process involving (i) in any individual
case an amount in excess of $20,000,000 or (ii) in the aggregate at any time an amount in excess of $20,000,000 (in either case
to the extent not adequately covered by insurance as to which a solvent and unaffiliated insurance company has acknowledged coverage)
shall be entered or filed against Parent, Borrower or any Material Subsidiary or any of their respective assets and shall remain
undischarged, unvacated, unbonded or unstayed for a period of sixty (60) days; or

 

(k)
Employee Benefit Plans. There shall occur one or more ERISA Events which individually or in the aggregate results in or
would reasonably be expected to result in a Material Adverse Effect on Parent or the Borrower during the term hereof; or

 

(l)
Change of Control. A Change of Control occurs; or

 

(m)
Guaranties, Security Documents and other Loan Documents. At any time after the execution and delivery thereof, (i) the
Guaranty for any reason, other than the satisfaction in full of all Obligations, shall cease to be in full force and effect (other
than in accordance with its terms) or shall be declared to be null and void or any Guarantor shall repudiate its obligations thereunder,
(ii) this Agreement or any Security Document ceases to be in full force and effect (other than by reason of a release of Collateral
in accordance with the terms hereof or thereof or the satisfaction in full of the Obligations in accordance with the terms hereof)
or shall be declared null and void, or the Collateral Agent shall not have or shall cease to have a valid and perfected Lien in
any material portion Collateral purported to be covered by the Security Documents with the priority required by the relevant Security
Document, in each case for any reason other than the failure of the Collateral Agent or any Secured Party to take any action within
its control or (iii) any Loan Party shall contest the validity or enforceability of any Loan Document in writing or deny in writing
that it has any further liability under any Loan Document to which it is a party or shall contest the validity or perfection of
any Lien in any Collateral purported to be covered by the Security Documents;

 

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THEN,
(1) upon the occurrence of any Event of Default described in Section 8.01(h) or 8.01(i), automatically, and (2) upon the occurrence
of any other Event of Default, at the request of (or with the consent of) the Required Lenders, upon notice to the Borrower by
the Administrative Agent, (A) each of the following shall immediately become due and payable, in each case without presentment,
demand, protest or other requirements of any kind, all of which are hereby expressly waived by each Loan Party: (I) the unpaid
principal amount of and accrued interest on the Loans, and (II) all other Obligations; and (B) the Administrative Agent may cause
the Collateral Agent to enforce any and all Liens and security interests created pursuant to Security Documents.

 

ARTICLE
IX

AGENTS

 

Section
9.01 Appointment of Agents. Barclays is hereby appointed the Administrative Agent and the Collateral Agent hereunder and
under the other Loan Documents and each Lender hereby authorizes Barclays to act as the Administrative Agent and the Collateral
Agent in accordance with the terms hereof and the other Loan Documents. Each Agent hereby agrees to act in its capacity as such
upon the express conditions contained herein and the other Loan Documents, as applicable. The provisions of this Article IX are
solely for the benefit of Agents and Lenders and no Loan Party shall have any rights as a third party beneficiary of any of the
provisions thereof. In performing its functions and duties hereunder, each Agent shall act solely as an agent of Lenders and does
not assume and shall not be deemed to have assumed any obligation towards or relationship of agency or trust with or for Parent
or any of its Subsidiaries. Each of the Administrative Agent and the Collateral Agent, without consent of or notice to any party
hereto, may assign any and all of its rights or obligations hereunder to any of its Affiliates. As
of the Restatement Effective Date, theThe
Arrangers and Syndication Agent, in their respective capacities, shall have no duties, responsibilities or obligations hereunder
but shall be entitled to all benefits of this Article IX.

 

Section
9.02 Powers and Duties. Each Lender irrevocably authorizes each Agent to take such action on such Lender’s behalf
and to exercise such powers, rights and remedies hereunder and under the other Loan Documents as are specifically delegated or
granted to such Agent by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental
thereto. Each Agent shall have only those duties and responsibilities that are expressly specified herein and the other Loan Documents.
Each Agent may exercise such powers, rights and remedies and perform such duties by or through its agents or employees. No Agent
shall have, by reason hereof or any of the other Loan Documents, a fiduciary relationship in respect of any Lender; and nothing
herein or any of the other Loan Documents, expressed or implied, is intended to or shall be so construed as to impose upon any
Agent any obligations in respect hereof or any of the other Loan Documents except as expressly set forth herein or therein.

 

Section
9.03 General Immunity.

 

(a)
No Responsibility for Certain Matters. No Agent shall be responsible to any Lender for the execution, effectiveness, genuineness,
validity, enforceability, collectability or sufficiency hereof or any other Loan Document, the perfection or priority of any Lien,
or for any representations, warranties, recitals or statements made herein or therein or made in any written or oral statements
or in any financial or other statements, instruments, reports or certificates or any other documents furnished or made by any
Agent to Lenders or by or on behalf of any Loan Party or to any Lender in connection with the Loan Documents and the transactions
contemplated thereby or for the financial condition or business affairs of any Loan Party or any other Person liable for the payment
of any Obligations, nor shall any Agent be required to ascertain or inquire as to the performance or observance of any of the
terms, conditions, provisions, covenants or agreements contained in any of the Loan Documents or as to the use of the proceeds
of the Loans or as to the existence or possible existence of any Event of Default or Default or to make any disclosures with respect
to the foregoing. Anything contained herein to the contrary notwithstanding, the Administrative Agent shall not have any liability
arising from confirmations of the amount of outstanding Loans or the component amounts thereof.

 

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(b)
Exculpatory Provisions. No Agent nor any of its officers, partners, directors, employees or agents shall be liable to Lenders
for any action taken or omitted by any Agent under or in connection with any of the Loan Documents except to the extent caused
by such Agent’s gross negligence or willful misconduct, as determined by a final, non-appealable judgment of a court of
competent jurisdiction. Each Agent shall be deemed not to have knowledge of any Default or Event of Default unless and until notice
describing such Default or Event of Default is given to such Agent by Parent, the Borrower or a Lender. No Agent shall, except
as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall be liable for the failure
to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person
serving as Agent or any of its Affiliates in any capacity. Each Agent shall be entitled to refrain from any act or the taking
of any action (including the failure to take an action) in connection herewith or any of the other Loan Documents or from the
exercise of any power, discretion or authority vested in it hereunder or thereunder unless and until such Agent shall have received
instructions in respect thereof from the Required Lenders (or such other Lenders as may be required to give such instructions
under Section 10.05) and, upon receipt of such instructions from the Required Lenders (or such other Lenders, as the case may
be), such Agent shall be entitled to act or (where so instructed) refrain from acting, or to exercise such power, discretion or
authority, in accordance with such instructions and shall not be required to take any action that, in its opinion or the opinion
of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law. Without
prejudice to the generality of the foregoing, (i) each Agent shall be entitled to rely, and shall be fully protected in relying,
upon any communication, instrument or document believed by it to be genuine and correct and to have been signed or sent by the
proper Person or Persons, and shall be entitled to rely and shall be protected in relying on opinions and judgments of attorneys
(who may be attorneys for Parent and its Subsidiaries), accountants, experts and other professional advisors selected by it; and
(ii) no Lender shall have any right of action whatsoever against any Agent as a result of such Agent acting or (where so instructed)
refraining from acting hereunder or any of the other Loan Documents in accordance with the instructions of the Required Lenders
(or such other Lenders as may be required to give such instructions under Section 10.05).

 

(c)
Delegation of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers
under this Agreement or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative
Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers
by or through their respective Affiliates. The exculpatory, indemnification and other provisions of this Section 9.03 and of Section
9.06 shall apply to any the Affiliates of the Administrative Agent and shall apply to their respective activities in connection
with the syndication of the credit facilities provided for herein as well as activities of the Administrative Agent and the Syndication
Agent. All of the rights, benefits, and privileges (including the exculpatory and indemnification provisions) of this Section
9.03 and of Section 9.06 shall apply to any such sub-agent and to the Affiliates of any such sub-agent, and shall apply to their
respective activities as sub-agent as if such sub-agent and Affiliates were named herein. Notwithstanding anything herein to the
contrary, with respect to each sub-agent appointed by the Administrative Agent, (i) such sub-agent shall be a third party beneficiary
under this Agreement with respect to all such rights, benefits and privileges (including exculpatory rights and rights to indemnification)
and shall have all of the rights and benefits of a third party beneficiary, including an independent right of action to enforce
such rights, benefits and privileges (including exculpatory rights and rights to indemnification) directly, without the consent
or joinder of any other Person, against any or all of Loan Parties and the Lenders, (ii) such rights, benefits and privileges
(including exculpatory rights and rights to indemnification) shall not be modified or amended without the consent of such sub-agent,
and (iii) such sub-agent shall only have obligations to the Administrative Agent and not to any Loan Party, Lender or any other
Person and no Loan Party, Lender or any other Person shall have any rights, directly or indirectly, as a third party beneficiary
or otherwise, against such sub-agent.

 

Section
9.04 Agents Entitled to Act as Lender. The agency hereby created shall in no way impair or affect any of the rights and
powers of, or impose any duties or obligations upon, any Agent in its individual capacity as a Lender hereunder. With respect
to its participation in the Loans, each Agent shall have the same rights and powers hereunder as any other Lender and may exercise
the same as if it were not performing the duties and functions delegated to it hereunder, and the term “Lender” shall,
unless the context clearly otherwise indicates, include each Agent in its individual capacity. Any Agent and its Affiliates may
accept deposits from, lend money to, own securities of, and generally engage in any kind of banking, trust, financial advisory
or other business with the Borrower or any of its Affiliates as if it were not performing the duties specified herein, and may
accept fees and other consideration from Parent and the Borrower for services in connection herewith and otherwise without having
to account for the same to Lenders.

 

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Section
9.05 Lenders’ Representations, Warranties and Acknowledgment.

 

(a)
Each Lender represents and warrants that it has made its own independent investigation of the financial condition and affairs
of Parent and its Subsidiaries in connection with Loans hereunder and that it has made and shall continue to make its own appraisal
of the creditworthiness of Parent and its Subsidiaries. No Agent shall have any duty or responsibility, either initially or on
a continuing basis, to make any such investigation or any such appraisal on behalf of Lenders or to provide any Lender with any
credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any
time or times thereafter, and no Agent shall have any responsibility with respect to the accuracy of or the completeness of any
information provided to Lenders.

 

(b)
Each Lender, by delivering its signature page to this Agreement, the
Restatement Agreement, the Second Amendment or an Assignment Agreement or a Joinder
Agreement and funding its Loan, on the Restatement Effective Date or the Increased
Amount Date, as applicable, shall be deemed to have acknowledged receipt of, and consented to and approved, each
Loan Document and each other document required to be approved by any Agent, the Required Lenders or Lenders, as applicable on
the Restatement Effective Date or,
the Increased Amount Date, as applicableSecond
Amendment Effective Date.

 

Section
9.06 Indemnity. Each Lender, in proportion to its Pro Rata Share, severally agrees to indemnify each Agent, to the extent
that such Agent shall not have been reimbursed by any Loan Party (and without limiting its obligation to do so), for and against
any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including counsel
fees and disbursements) or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against
such Agent in exercising its powers, rights and remedies or performing its duties hereunder or under the other Loan Documents
or otherwise in its capacity as such Agent in any way relating to or arising out of this Agreement or the other Loan Documents;
provided that no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses or disbursements resulting from such Agent’s gross negligence or willful misconduct, as
determined by a final, non-appealable judgment of a court of competent jurisdiction. If any indemnity furnished to any Agent for
any purpose shall, in the opinion of such Agent, be insufficient or become impaired, such Agent may call for additional indemnity
and cease, or not commence, to do the acts indemnified against until such additional indemnity is furnished; provided that
in no event shall this sentence require any Lender to indemnify any Agent against any liability, obligation, loss, damage, penalty,
action, judgment, suit, cost, expense or disbursement in excess of such Lender’s Pro Rata Share thereof.

 

Section
9.07 Successor Administrative Agent and Collateral Agent.

 

(a)
The Administrative Agent shall have the right to resign at any time by giving prior written notice thereof to Lenders and the
Borrower. The Administrative Agent shall have the right to appoint a financial institution to act as the Administrative Agent
and/or the Collateral Agent hereunder, subject to the reasonable satisfaction of the Borrower and the Required Lenders, and the
Administrative Agent’s resignation shall become effective on the earlier of (i) the acceptance of such successor Administrative
Agent by the Borrower and the Required Lenders or (ii) the thirtieth day after such notice of resignation. Upon any such notice
of resignation, if a successor Administrative Agent has not already been appointed by the retiring Administrative Agent, the Required
Lenders shall have the right, upon five (5) Business Days’ notice to the Borrower, to appoint a successor Administrative
Agent. If neither the Required Lenders nor the Administrative Agent have appointed a successor Administrative Agent, the Required
Lenders shall be deemed to have succeeded to and become vested with all the rights, powers, privileges and duties of the retiring
Administrative Agent; provided that until a successor Administrative Agent is so appointed by the Required Lenders or the
Administrative Agent, the Administrative Agent, by notice to the Borrower and the Required Lenders, may retain its role as the
Collateral Agent under any Security Document. Upon the acceptance of any appointment as the Administrative Agent hereunder by
a successor Administrative Agent, that successor Administrative Agent shall thereupon succeed to and become vested with all the
rights, powers, privileges and duties of the retiring Administrative Agent and the retiring Administrative Agent shall promptly
(i) transfer to such successor Administrative Agent all sums, Securities and other items of Collateral held under the Security
Documents, together with all records and other documents necessary or appropriate in connection with the performance of the duties
of the successor Administrative Agent under the Loan Documents, and (ii) execute and deliver to such successor Administrative
Agent such amendments to financing statements, and take such other actions, as may be necessary or appropriate in connection with
the assignment to such successor Administrative Agent of the security interests created under the Security Documents, whereupon
such retiring Administrative Agent shall be discharged from its duties and obligations hereunder. Except as provided above, any
resignation of Barclays or its successor as the Administrative Agent pursuant to this Section shall also constitute the resignation
of Barclays or its successor as the Collateral Agent. After any retiring Administrative Agent’s resignation hereunder as
Administrative Agent, the provisions of this Section 9.07 shall inure to its benefit as to any actions taken or omitted to be
taken by it while it was the Administrative Agent hereunder. Any successor Administrative Agent appointed pursuant to this Section
shall, upon its acceptance of such appointment, become the successor Collateral Agent for all purposes hereunder. If Barclays
or its successor as the Administrative Agent pursuant to this Section has resigned as the Administrative Agent but retained its
role as the Collateral Agent and no successor Collateral Agent has become the Collateral Agent pursuant to the immediately preceding
sentence, Barclays or its successor may resign as the Collateral Agent upon notice to the Borrower and the Required Lenders at
any time.

 

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(b)
In addition to the foregoing, the Collateral Agent may resign at any time by giving thirty (30) days’ prior written notice
thereof to Lenders and the Borrower. The Administrative Agent shall have the right to appoint a financial institution as the Collateral
Agent hereunder, subject to the reasonable satisfaction of the Borrower and the Required Lenders and the Collateral Agent’s
resignation shall become effective on the earlier of (i) the acceptance of such successor Collateral Agent by the Borrower and
the Required Lenders or (ii) the thirtieth day after such notice of resignation. Upon any such notice of resignation, the Required
Lenders shall have the right, upon five (5) Business Days’ notice to the Administrative Agent, to appoint a successor Collateral
Agent. Upon the acceptance of any appointment as the Collateral Agent hereunder by a successor Collateral Agent, that successor
Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring
Collateral Agent under this Agreement and the Security Documents, and the retiring Collateral Agent under this Agreement shall
promptly (i) transfer to such successor Collateral Agent all sums, Securities and other items of Collateral held hereunder or
under the Security Documents, together with all records and other documents necessary or appropriate in connection with the performance
of the duties of the successor Collateral Agent under this Agreement and the Security Documents, and (ii) execute and deliver
to such successor Collateral Agent or otherwise authorize the filing of such amendments to financing statements, and take such
other actions, as may be necessary or appropriate in connection with the assignment to such successor Collateral Agent of the
security interests created under the Security Documents, whereupon such retiring Collateral Agent shall be discharged from its
duties and obligations under this Agreement and the Security Documents. After any retiring Collateral Agent’s resignation
hereunder as the Collateral Agent, the provisions of this Agreement and the Security Documents shall inure to its benefit as to
any actions taken or omitted to be taken by it under this Agreement or the Security Documents while it was the Collateral Agent
hereunder.

 

Section
9.08 Security Documents and Guaranty.

 

(a)
Agents under Security Documents and Guaranty. Each Secured Party hereby further authorizes the Administrative Agent or
the Collateral Agent, as applicable, on behalf of and for the benefit of Secured Parties, to be the agent for and representative
of Secured Parties with respect to the Guaranty, the Collateral and the Security Documents; provided that neither the Administrative
Agent nor the Collateral Agent shall owe any fiduciary duty, duty of loyalty, duty of care, duty of disclosure or any other obligation
whatsoever to any holder of Obligations with respect to any Hedge Agreement. Without further written consent or authorization
from any Secured Party, the Administrative Agent or the Collateral Agent, as applicable may execute any documents or instruments
necessary to (i) in connection with a sale or disposition of assets permitted by this Agreement, release any Lien encumbering
any item of Collateral that is the subject of such sale or other disposition of assets or to which the Required Lenders (or such
other Lenders as may be required to give such consent under Section 10.05) have otherwise consented or (ii) release any Subsidiary
Guarantor from the Guaranty pursuant to Section 7.12 or with respect to which the Required Lenders (or such other Lenders as may
be required to give such consent under Section 10.05) have otherwise consented.

 

(b)
Right to Realize on Collateral and Enforce Guaranty. Anything contained in any of the Loan Documents to the contrary notwithstanding,
the Borrower, the Administrative Agent, the Collateral Agent and each Secured Party hereby agree that (i) no Secured Party shall
have any right individually to realize upon any of the Collateral or to enforce the Guaranty, it being understood and agreed that
all powers, rights and remedies hereunder may be exercised solely by the Administrative Agent, on behalf of the Secured Parties
in accordance with the terms hereof and all powers, rights and remedies under the Security Documents may be exercised solely by
the Collateral Agent and (ii) in the event of a foreclosure by the Collateral Agent on any of the Collateral pursuant to a public
or private sale or other disposition, the Collateral Agent or any Lender may be the purchaser or licensor of any or all of such
Collateral at any such sale or other disposition and the Collateral Agent, as agent for and representative of the Secured Parties
(but not any Lender or Lenders in its or their respective individual capacities unless the Required Lenders shall otherwise agree
in writing) 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 public sale, to use and apply any of the Obligations as a credit on account of the
purchase price for any collateral payable by the Collateral Agent at such sale or other disposition.

 

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(c)
Rights under Hedge Agreements. No Hedge Agreement shall create (or be deemed to create) in favor of any Lender Counterparty
that is a party thereto any rights in connection with the management or release of any Collateral or of the obligations of any
Subsidiary Guarantor under the Loan Documents except as expressly provided in Section 10.05(c) of this Agreement and under any
applicable provisions of the Security Agreement. By accepting the benefits of the Collateral, such Lender Counterparty shall be
deemed to have appointed the Collateral Agent as its agent and agreed to be bound by the Loan Documents as a Secured Party, subject
to the limitations set forth in this clause (c).

 

(d)
Release of Collateral and Guarantees, Termination of Loan Documents. Notwithstanding anything to the contrary contained
herein or any other Loan Document, when all Obligations (other than (x) obligations in respect of any Hedge Agreement and (y)
unasserted contingent indemnity obligations) have been paid in full and all Commitments have terminated or expired or been cancelled,
upon request of the Borrower, each of the Administrative Agent and the Collateral Agent shall (without notice to, or vote or consent
of, any Lender or any Lender Counterparty) take such actions as shall be necessary or advisable to release its security interest
in all Collateral, and to release all guarantee obligations provided for in any Loan Document, whether or not on the date of such
release there may be outstanding obligations in respect of Hedge Agreements. Any such release of guarantee obligations shall be
deemed subject to the provision that such guarantee obligations shall be reinstated if after such release any portion of any payment
in respect of the Obligations guaranteed thereby shall be rescinded or must otherwise be restored or returned upon the insolvency,
bankruptcy, dissolution, liquidation or reorganization of Parent, the Borrower or any Subsidiary Guarantor, or upon or as a result
of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, Parent, the Borrower or any
Subsidiary Guarantor or any substantial part of its property, or otherwise, all as though such payment had not been made. In addition,
the Agents and the Lenders hereby agree that in connection with (i) any Asset Sale or other sale or transfer permitted by this
Agreement or any other Loan Document or (ii) any Collateral becoming an Excluded Asset (as defined in the Security Agreement),
any Lien on any assets transferred as part of or in connection with any such Asset Sale, other sale or transfer or on such Excluded
Assets, as the case may be, and granted to or held by the Collateral Agent under any Loan Document shall be automatically released
at the time of consummation of such Asset Sale, other sale or transfer or upon such asset becoming an Excluded Asset. The
Administrative Agent and the Collateral Agent shall at the request of the Parent or the Borrower cooperate with the Parent and
the Borrower and take such actions and execute and deliver any instruments, from time to time, as shall further the purposes of
this Agreement and the Loan Documents.

 

Section
9.09 Withholding Taxes. To the extent required by any applicable law, the Administrative Agent may withhold from any payment
to any Lender an amount equivalent to any applicable withholding Tax. If the Internal Revenue Service or any other Governmental
Authority asserts a claim that the Administrative Agent did not properly withhold Tax from amounts paid to or for the account
of any Lender for any reason (including because the appropriate form was not delivered or was not properly executed or because
such Lender failed to notify the Administrative Agent of a change in circumstance which rendered the exemption from, or reduction
of, withholding Tax ineffective), such Lender shall indemnify the Administrative Agent fully for all amounts paid, directly or
indirectly, by the Administrative Agent as Tax or otherwise, including any penalties, additions to Tax or interest and together
with all expenses (including legal expenses, allocated internal costs and out-of-pocket expenses) incurred, whether or not such
Tax was correctly or legally asserted. 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. The agreements in this Section 9.09 shall survive the
resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender, the
termination of the Agreement and the repayment, satisfaction or discharge of all other obligations. 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 Section 9.09.

 

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Section
9.10 Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under the Bankruptcy Code
or other applicable law or any other judicial proceeding relative to Parent or the Borrower, the Administrative Agent (irrespective
of whether the principal of any Loan 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 Borrower) 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 Lenders and the other Secured Parties (including fees, disbursements and other
expenses of counsel) allowed in such judicial proceeding and (b) to collect and receive any monies or other property payable or
deliverable on any such claims and to distribute the same. Any custodian, receiver, assignee, trustee, liquidator, sequestrator
or other similar official in any such judicial proceeding is hereby authorized by each Lender and other Secured Party to make
such payments to the Administrative Agent. Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize
or consent to or accept or adopt on behalf of any Lender or other Secured Party any plan of reorganization, arrangement, adjustment
or composition affecting the Obligations or the rights of any Lender or other Secured Party to authorize the Administrative Agent
to vote in respect of the claim of such Person or in any such proceeding.

 

Section
9.11 Certain ERISA Matters.

 

(a)
Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from
the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit
of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party,
that at least one of the following is and will be true:

 

(i)
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 Commitments or this Agreement,

 

(ii)
the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined
by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance
company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts),
PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption
for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into,
participation in, administration of and performance of the Loans, the Commitments and this Agreement,

 

(iii)
(A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part
VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter
into, participate in, administer and perform the Loans, the Commitments and this Agreement, (C) the entrance into, participation
in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections
(b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part
I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance
of the Loans, the Commitments and this Agreement, or

 

(iv)
such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion,
and such Lender.

 

(b)
In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) 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
clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and
(y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto,
for the benefit of, the Administrative Agent and 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 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).

 

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ARTICLE
X

MISCELLANEOUS

 

Section
10.01 Notices.

 

(a)
Notices Generally. Any notice or other communication herein required or permitted to be given under the Loan Documents
shall be sent to such Person’s address as set forth on Schedule 10.01(a) or in the other relevant Loan Document,
and in the case of any Lender, the address as specified on Schedule 10.01(a) or otherwise specified to the Administrative
Agent in writing. Except as otherwise set forth in paragraph (b) below, each notice hereunder shall be in writing and may be personally
served or sent by telefacsimile or United States mail or courier service and shall be deemed to have been given when delivered
in person or by courier service and signed for against receipt thereof, upon receipt of telefacsimile, or three (3) Business Days
after depositing it in the United States mail with postage prepaid and properly addressed; provided that no notice to any
Agent shall be effective until received by such Agent.

 

(b)
Electronic Communications.

 

(i)
Notices and other communications to Lenders hereunder may be delivered or furnished by electronic communication (including e-mail
and Internet or intranet websites, including the Platform) pursuant to procedures approved by the Administrative Agent; provided
that the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender has notified the Administrative
Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the
Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications
pursuant to procedures approved by it; provided, further, that approval of such procedures may be limited to particular
notices or communications. Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to
an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such
as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement); provided
that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication
shall be deemed to have been sent at the opening of business on the next Business Day for the recipient and (ii) notices or communications
posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail
address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying
the website address therefor.

 

(ii)
Each Loan Party understands that the distribution of material through an electronic medium is not necessarily secure and that
there are confidentiality and other risks associated with such distribution and agrees and assumes the risks associated with such
electronic distribution.

 

(iii)
The Platform and any Approved Electronic Communications are provided “as is” and “as available.” None
of the Agents or Arrangers nor any of their respective officers, directors, employees, agents, advisors or representatives (the
“Agent Affiliates”) warrant the accuracy, adequacy, or completeness of the Approved Electronic Communications
or the Platform and each expressly disclaims liability for errors or omissions in the Platform and the Approved Electronic Communications.
No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose,
non-infringement of third party rights or freedom from viruses or other code defects is made by the Agent Affiliates in connection
with the Platform or the Approved Electronic Communications. Each party hereto agrees that no Agent or Arranger has any responsibility
for maintaining or providing any equipment, software, services or any testing required in connection with any Approved Electronic
Communication or otherwise required for the Platform.

 

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(iv)
Each Loan Party, each Lender and each Agent agrees that the Administrative Agent may, but shall not be obligated to, store any
Approved Electronic Communications on the Platform in accordance with the Administrative Agent’s customary document retention
procedures and policies.

 

(v)
All uses of the Platform shall be governed by and subject to, in addition to this Section 10.01, separate terms and conditions
posted or referenced in such Platform and related agreements executed by the Lenders and their Affiliates in connection with the
use of such Platform.

 

(vi)
Each Loan Party, each Lender and each Agent agrees that none of the Agents nor any Agent Affiliate shall be responsible or liable
to any Loan Party or any other Person for damages arising from the use by others of any Approved Electronic Communications or
any other information or other materials obtained through the Platform, internet, electronic, telecommunications or other information
transmission systems.

 

Section
10.02 Expenses. Whether or not the transactions contemplated hereby are consummated, the Borrower agrees to pay promptly
(a) all the actual and reasonable and documented out-of-pocket costs and expenses of the Agents and Arrangers (subject to clause
(b) below) incurred in connection with the negotiation, preparation and execution of the Loan Documents and any consents, amendments,
waivers or other modifications thereto; (b) the reasonable and documented out-of-pocket fees, expenses and disbursements of counsel
to Agents and Arrangers (including a single firm of local counsel in each appropriate jurisdiction) in connection with the negotiation,
preparation, execution and administration of the Loan Documents, and any consents, amendments, waivers or other modifications
thereto and any other documents or matters requested by the Borrower (whether or not such consent, amendment, waiver or modification
or other document becomes effective) including the reasonable fees, disbursements and other charges of counsel and charges of
Intralinks or Syndtrak; (c) all reasonable and documented out-of-pocket costs and expenses arising in connection with or relating
to creating, perfecting, recording, maintaining and preserving Liens in favor of the Collateral Agent, for the benefit of Secured
Parties; (d) all reasonable and documented out-of-pocket costs, fees, expenses and disbursements of any auditors, accountants,
consultants or appraisers; (e) all reasonable and documented out-of-pocket costs and expenses in connection with the custody or
preservation of the Collateral; (f) all other reasonable costs and expenses incurred by each Agent and Arranger in connection
with the syndication of the Loans and Commitments and the transactions contemplated
by the Loan Documents and any consents, amendments, waivers or other modifications thereto; and (g) after the occurrence of an
Event of Default, all costs and expenses, including reasonable attorneys’ fees and costs of settlement, incurred by any
Agent, Arranger and the Lenders in enforcing any Obligations of or in collecting any payments due from any Loan Party hereunder
or under the Loan Documents by reason of such Event of Default (including in connection with the sale, lease or license of, collection
from, or other realization upon any of the Collateral or the enforcement of the Guaranty) or in connection with any refinancing
or restructuring of the credit arrangements provided hereunder in the nature of a “work-out” or pursuant to any insolvency
or bankruptcy cases or proceedings; provided that the Borrower shall not be required to reimburse the legal fees and expenses
of more than one outside counsel for Agents and one outside counsel for the Lenders (in addition to any local counsel) for all
Persons seeking reimbursement under this Section 10.02.

 

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Section
10.03 Indemnity.

 

(a)
In addition to the payment of expenses pursuant to Section 10.02, whether or not the transactions contemplated hereby are consummated,
each Loan Party agrees to defend (subject to Indemnitees’ rights to selection of counsel), indemnify, pay and hold harmless,
each Agent and Lender and the Arrangers and the officers, partners, members, directors, trustees, shareholders, advisors, employees,
representatives, attorneys, controlling persons, agents, sub-agents and Affiliates of each Agent and Lender and the Arrangers,
as well as the respective heirs, successors and assigns of the foregoing (each, an “Indemnitee”), from and
against any and all Indemnified Liabilities; provided that no Loan Party shall have any obligation to any Indemnitee hereunder
with respect to any Indemnified Liabilities (i) to the extent such Indemnified Liabilities resulted from the gross negligence,
bad faith or willful misconduct of that Indemnitee, in each case, as determined by a final, non-appealable judgment of a court
of competent jurisdiction, (ii) arising from the material breach by such Indemnitee or any related indemnified Person of its obligations
under this Agreement or any other Loan Document as determined by a final, non-appealable judgment of a court of competent jurisdiction
or (iii) arising any investigation, litigation or proceeding that does not involve an act or omission of Indemnitee or any of
its Subsidiaries and that is brought by an Indemnitee against any other Indemnitee, other than claims against any Agent or Arranger
(or an Affiliate thereof) in its capacity or carrying out its duties as an agent or arranger with respect to the Loans. To the
extent that the undertakings to defend, indemnify, pay and hold harmless set forth in this Section 10.03 may be unenforceable
in whole or in part because they are violative of any law or public policy, the applicable Loan Party shall contribute the maximum
portion that it is permitted to pay and satisfy under applicable law to the payment and satisfaction of all Indemnified Liabilities
incurred by Indemnitees or any of them. This Section 10.03 shall not apply with respect to any Taxes, other than Taxes arising
from a non-Tax claim.

 

(b)
To the extent permitted by applicable law, no Loan Party shall assert, and each Loan Party hereby waives, any claim against each
Agent and Lender and the Arrangers and their respective Affiliates, officers, partners, members, directors, trustees, shareholders,
advisors, employees, representatives, attorneys, controlling persons, agents and sub-agents on any theory of liability, for special,
indirect, consequential or punitive damages (as opposed to direct or actual damages) (whether or not the claim therefor is based
on contract, tort or duty imposed by any applicable legal requirement) arising out of, in connection with, as a result of or in
any way related to this Agreement or any Loan Document or any agreement or instrument contemplated hereby or thereby or referred
to herein or therein, the transactions contemplated hereby or thereby, the transmission of information through the Internet, any
Loan or the use of the proceeds thereof or any act or omission or event occurring in connection therewith, and each Loan Party
hereby waives, releases and agrees not to sue upon any such claim or any such damages, whether or not accrued and whether or not
known or suspected to exist in its favor. Without in any way limiting the indemnification obligations of the Loan Parties under
this Section 10.03, the Loan Parties will not be liable to any Indemnitee or any other Person for any indirect, consequential
or punitive damages that may be alleged as a result of any Loan Document or any element of the transactions contemplated hereunder.

 

Section
10.04 Set-Off. In addition to any rights now or hereafter granted under applicable law and not by way of limitation of
any such rights, upon the occurrence and during the continuance of any Event of Default each Lender is hereby authorized by each
Loan Party at any time or from time to time subject to the consent of the Administrative Agent (such consent not to be unreasonably
withheld, conditioned or delayed), and upon notice to the Borrower and the Administrative Agent, to set off and to appropriate
and to apply any and all deposits (general or special, including Indebtedness evidenced by certificates of deposit, whether matured
or unmatured, but not including trust accounts) and any other Indebtedness at any time held or owing by such Lender to or for
the credit or the account of any Loan Party against and on account of the obligations and liabilities of any Loan Party to such
Lender hereunder and under the other Loan Documents, including all claims of any nature or description arising out of or connected
hereto or with any other Loan Document, irrespective of whether or not (a) such Lender shall have made any demand hereunder or
(b) the principal of or the interest on the Loans or any other amounts due hereunder shall have become due and payable pursuant
to Article II or Article VIII and although such obligations and liabilities, or any of them, may be contingent or unmatured. Each
Lender agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application; provided
that the failure to give such notice shall not affect the validity of such setoff and application.

 

Section
10.05 Amendments and Waivers.

 

(a)
Required Lenders’ Consent. Subject to the additional requirements of Sections 10.05(b) and 10.05(c), no amendment,
modification, termination or waiver of any provision of the Loan Documents, or consent to any departure by any Loan Party therefrom,
shall in any event be effective without the written concurrence of the Required Lenders; provided that the Administrative
Agent may, with the consent of the Borrower only, amend, modify or supplement this Agreement or any other Loan Document to cure
any ambiguity, omission, defect or inconsistency, so long as such amendment, modification or supplement is not objected to in
writing by the Required Lenders to the Administrative Agent within five Business Days following receipt of notice thereof.

 

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(b)
Affected Lenders’ Consent. Without the written consent of each Lender that would be directly adversely affected thereby,
no amendment, modification, termination, or consent shall be effective if the effect thereof would:

 

(i)
extend the scheduled final maturity of any Loan or Note or principal amount outstanding, or waive, forgive, reduce or postpone
any scheduled repayment (but not prepayment) of principal;

 

(ii)
reduce the rate of interest on any Loan or any fee or any premium payable hereunder; provided that only the consent of
the Required Lenders of any applicable Class of Loans shall
be necessary to amend the Default Rate with respect to such Class of
Loans in Section 2.07 or to waive any obligation of the Borrower to pay interest at the Default Rate on
such Class of Loans;

 

(iii)
waive or extend the time for payment of any such interest, fees or premiums;

 

(iv)
reduce the principal amount of any Loan;

 

(v)
amend, modify, terminate or waive any provision of Section 2.15, this Section 10.05(b), Section 10.05(c), any provision of the
Security Agreement therein specified to be subject to this Section 10.05(b) or any other provision of this Agreement that expressly
provides that the consent of all Lenders is required;

 

(vi)
amend the definition of “Required Lenders” or amend Section 10.05(a) in a manner that has the same effect as an amendment
to such definition or the definition of “Pro Rata Share”; provided that with the consent of the Required Lenders,
additional extensions of credit pursuant hereto may be included in the determination of the “Required Lenders” or
“Pro Rata Share” on substantially the same basis as the Commitments and the Loans are included on the Restatement
Effective Date; provided, further, that the consent of the Required Lenders shall not be required in connection
with the addition of any Extension Series pursuant to Section 2.22
or any incurrence of TermOther
Loans added pursuant to Section 2.22;2.23.

 

(vii)
release all or substantially all of the Collateral or all or substantially all of the Subsidiary Guarantors from the Guaranty
except as expressly provided in the Loan Documents; or

 

(viii)
consent to the assignment or transfer by any Loan Party of any of its rights and obligations under any Loan Document except as
expressly provided in any Loan Document;

 

provided
that, for the avoidance of doubt, all Lenders shall be deemed directly affected thereby with respect to any amendment described
in clauses (v), (vi), (vii) and (viii).

 

(c)
Other Consents. No amendment, modification, termination or waiver of any provision of the Loan Documents, or consent to
any departure by any Loan Party therefrom, shall:

 

(i)
except as permitted by Section 2.22 or 2.23, alter the required
application of any repayments or prepayments as between Classes pursuant to Section 2.13 without the consent of Lenders holding
more than 50% of the aggregate Restatement Effective Date Term Loan Exposure
of all Lenders or New Term Loan Exposure of all Lenders, as applicable, of each
Class which is being allocated a lesser repayment or prepayment as a result thereof; provided that the Required Lenders
may waive, in whole or in part, any prepayment so long as the application, as between Classes, of any portion of such prepayment
which is still required to be made is not altered;

 

(ii)
amend, modify or waive this Agreement or the Security Agreement so as to alter the ratable treatment of Obligations arising under
the Loan Documents and Obligations arising under Hedge Agreements or the definition of “Lender Counterparty,” “Hedge
Agreement,” “Obligations,” or “Secured Obligations” (as defined in any applicable Security Document)
in each case in a manner adverse to any Lender Counterparty with Obligations then outstanding without the written consent of any
such Lender Counterparty; or

 

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(iii)
amend, modify, terminate or waive any provision of Article IX as the same applies to any Agent, or any other provision hereof
as the same applies to the rights or obligations of any Agent, in each case without the consent of such Agent.

 

(d)
Execution of Amendments, Etc. The Administrative Agent may, but shall have no obligation to, with the concurrence of any
Lender, execute amendments, modifications, waivers or consents on behalf of such Lender. Any waiver or consent shall be effective
only in the specific instance and for the specific purpose for which it was given. No notice to or demand on any Loan Party in
any case shall entitle any Loan Party to any other or further notice or demand in similar or other circumstances. Any amendment,
modification, termination, waiver or consent effected in accordance with this Section 10.05 shall be binding upon each Lender
at the time outstanding, each future Lender and, if signed by a Loan Party, on such Loan Party.

 

(e)
New Term Loans.
Notwithstanding anything to the contrary herein or in any other Loan Document, this
Agreement and the other Loan Documents may be amended with the written consent of only the Administrative Agent and the Borrower
to the extent necessary in order to evidence and implement any incurrence of Term Loans pursuant to Section 2.22.

 

Section
10.06 Successors and Assigns; Participations.

 

(a)
Generally. This Agreement shall be binding upon the parties hereto and their respective successors and assigns and shall
inure to the benefit of the parties hereto and the successors and assigns of Lenders. Except as expressly permitted pursuant to
Section 6.08 of this Agreement, no Loan Party’s rights or obligations hereunder nor any interest therein may be assigned
or delegated by any Loan Party without the prior written consent of all Lenders (and any purported assignment or delegation without
such consent shall be null and void) and of the Administrative Agent (such consent not to be unreasonably withheld, conditioned
or delayed). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties
hereto, their respective successors and assigns permitted hereby and, to the extent expressly contemplated hereby, Affiliates
of each of the Agents and Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

 

(b)
Right to Assign. Each Lender shall have the right at any time to sell, assign or transfer all or a portion of its rights
and obligations under this Agreement, including all or a portion of its Commitment or Loans owing to it or other Obligations (provided
that pro rata assignments shall not be required and each assignment shall be of a uniform, and not varying, percentage of
all rights and obligations under and in respect of any applicable Loan and any related Commitments):

 

(i)
to any Person other than Excluded Institutions meeting the criteria of clause (i) of the definition of the term of “Eligible
Assignee” upon the giving of notice to the Borrower and the Administrative Agent; and

 

(ii)
to any Person other than Excluded Institutions meeting the criteria of clause (ii) of the definition of the term of “Eligible
Assignee” upon giving of notice to the Borrower and the Administrative Agent and, so long as no Event of Default has then
occurred and is Continuing, with the prior written consent of the Borrower (not to be unreasonably withheld); provided that
each such assignment pursuant to this Section 10.06(b)(ii) shall be in an aggregate amount of not less than $1,000,000 (or such
lesser amount as may be agreed to by the Administrative Agent or as shall constitute the aggregate amount of the Restatement
Effective Date Term Loan or the or New Term Loans of a Series of the assigning LenderLoan)
with respect to the assignment of Loans; provided, further, that the Related Funds of any individual Lender may
aggregate their Loans for purposes of determining compliance with such minimum assignment amounts; and

 

it
being understood and agreed that at the request of any Lender the Administrative Agent shall be permitted to disclose to such
Lender the identity of each Excluded Institution.

 

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(iii)
to any Affiliated Lender but only if:

 

(1)
such assignment is made pursuant to an open market purchase;

 

(2)
no Default or Event of Default has occurred or is continuing or could result therefrom;

 

(3)
such assigning Lender and such Affiliated Lender, shall execute and deliver to the Administrative Agent an assignment agreement
in form and substance reasonably agreeable to the Administrative Agent in lieu of an Assignment and Assumption;

 

(4)
such Affiliated Lender shall represent and warrant as of the date any such assignment that neither it, its Affiliates nor any
of its respective directors or officers has any non-public information with respect to the Parent or its Subsidiaries or any of
their respective securities to the extent such information could have a material effect upon, or otherwise be material to, an
assigning Lender’s decision to assign Loans or a purchasing Lender’s decision to purchase Loans that has not been
disclosed to the applicable Lenders generally (other than to the extent any such Lender does not wish to receive material non-public
information with respect to the Parent or its Subsidiaries or any of their respective securities) prior to such date; and

 

(5)
any such Loan assigned to such Affiliated Lender shall be automatically and permanently cancelled at the time of such assignment.

 

Notwithstanding
anything in this Section 10.06 to the contrary, if the Borrower has not given the Administrative Agent written notice of its objection
to such assignment within five (5) Business Days after written notice to the Borrower, the Borrower shall be deemed to have consented
to such assignment.

 

(c)
Assignment Agreements. Assignments made pursuant to the foregoing provision shall be effective as of the Assignment Effective
Date. In connection with all assignments there shall be delivered to the Administrative Agent such forms, certificates or other
evidence, if any, with respect to United States federal income tax withholding matters as the assignee under such Assignment Agreement
may be required to deliver pursuant to Section 2.18(c), together with payment to the Administrative Agent of a registration and
processing fee of $3,500 (except that no such registration and processing fee shall be payable (y) in connection with an assignment
by or to Barclays or any Affiliate thereof or (z) in the case of an Eligible Assignee which is already a Lender or is an Affiliate
or Related Fund of a Lender or a Person under common management with a Lender).

 

(d)
Representations and Warranties of Assignee. Each Lender, upon execution and delivery hereof or upon succeeding to an interest
in the Commitments and Loans, as the case may be, represents and warrants as of the Restatement Effective Date or as of the Assignment
Effective Date that (i) it is an Eligible Assignee; (ii) it has experience and expertise in the making of or investing in commitments
or loans such as the applicable Commitments or Loans, as the case may be; and (iii) it shall make or invest in, as the case may
be, its Commitments or Loans for its own account in the ordinary course and without a view to distribution of such Commitments
or Loans within the meaning of the Securities Act or the Exchange Act or other federal securities laws (it being understood that,
subject to the provisions of this Section 10.06, the disposition of such Commitments or Loans or any interests therein shall at
all times remain within its exclusive control).

 

(e)
Effect of Assignment. Subject to the terms and conditions of this Section 10.06, as of the Assignment Effective Date (i)
the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest
in the Loans and Commitments as reflected in the Register and shall thereafter
be a party hereto and a “Lender” for all purposes hereof; (ii) the assigning Lender thereunder shall, to the extent
that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive
the termination hereof, including under Section 10.07) and be released from its obligations hereunder (and, in the case of an
assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender
shall cease to be a party hereto on the Assignment Effective Date; provided that anything contained in any of the Loan
Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities
hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender
hereunder); (iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (iv) if any such assignment
occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly
thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower
shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning
Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.

 

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(f)
Participations.

 

(i)
Each Lender shall have the right at any time to sell one or more participations to any Person (other than the Borrower, any of
its Subsidiaries or any of its Affiliates and other than any Excluded Institution) in all or any part of its Commitments, Loans
or in any other Obligation.

 

(ii)
The holder of any such participation shall not be entitled to require such Lender to take or omit to take any action hereunder
except with respect to any amendment, modification or waiver that would (A) extend the final scheduled maturity of any Loan or
Note in which such participant is participating, or reduce the rate or extend the time of payment of interest or fees thereon
(except in connection with a waiver of applicability of any post-default increase in interest rates) or reduce the principal amount
thereof, or increase the amount of the participant’s participation over the amount thereof then in effect (it being understood
that a waiver of any Default or Event of Default shall not constitute a change in the terms of such participation, and that an
increase in any Commitment or Loan shall be permitted without the consent of any participant if the participant’s participation
is not increased as a result thereof), (B) consent to the assignment or transfer by any Loan Party of any of its rights and obligations
under this Agreement, (C) amend the definition of “Required Lenders” (or amend Section 10.05(a) in a manner that has
the same effect as an amendment to such definition) or the definition of “Pro Rata Share” (other
than amendments specified in the provisos of Section 10.5(b)(vi) or (D) release all or substantially all of the Subsidiary
Guarantors or all or substantially all of the Collateral under the Security Documents (except as expressly provided in the Loan
Documents) supporting the Loans hereunder in which such participant is participating.

 

(iii)
The Borrower agrees that each participant shall be entitled to the benefits of Sections 2.16(cd),
2.17 and 2.18 (subject to the limitations and requirements of such Sections, including Section 2.18(c); provided that any documentation
required under Section 2.18(c) shall be provided solely to the Lender that sold the participation) to the same extent as if it
were a Lender and had acquired its interest by assignment pursuant to clause (c) of this Section; provided that a participant
shall not be entitled to receive any greater payment under Section 2.17 or 2.18 than the applicable Lender would have been entitled
to receive with respect to the participation sold to such participant, except to the extent such entitlement to a greater payment
results from a Change in Law occurring after the participant became a participant; provided, further, that nothing
herein shall require any notice to the Borrower or any other Person in connection with the sale of any participation. To the extent
permitted by law, each participant also shall be entitled to the benefits of Section 10.04 as though it were a Lender; provided
that such participant agrees to be subject to Section 2.15 as though it were a Lender. Each Lender that sells a participating
interest in its Commitments, Loans or in any other Obligation to a participant, shall, as non-fiduciary agent of the Borrower
solely for the purposes of this Section 10.06(f), maintain a register (a “Participant Register”) containing
the name and principal and interest amounts of the participating interest of each participant entitled to receive payments in
respect of such participating interests; provided, however, that a Lender shall have no obligation to show its Participant
Register to any Loan Party except to the extent required to demonstrate to the Internal Revenue Service in connection with a tax
audit that the Loans are in “registered form” for U.S. federal income tax purposes. The entries in a Participant Register
shall be conclusive, absent manifest error, and such Lender shall treat each person whose name is recorded in the Participant
Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.

 

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(g)
Certain Other Assignments and Participations. In addition to any other assignment or participation permitted pursuant to
this Section 10.06 and subject to the limitations set forth in Section 10.06(b)(ii), respectively, any Lender may assign and/or
pledge (without the consent of the Borrower or the Administrative Agent) all or any portion of its Loans, the other Obligations
owed by or to such Lender, and its Notes, if any, to secure obligations of such Lender including any Federal Reserve Bank as collateral
security pursuant to Regulation A of the Board of Governors and any operating circular issued by such Federal Reserve Bank or
any central bank having jurisdiction over such Lender; provided that no Lender, as between the Borrower and such Lender,
shall be relieved of any of its obligations hereunder as a result of any such assignment and pledge; provided, further,
that in no event shall the applicable Federal Reserve Bank, pledgee or trustee, be considered to be a “Lender” or
be entitled to require the assigning Lender to take or omit to take any action hereunder.

 

(h)
Register. The Borrower, the Administrative Agent and Lenders shall treat the Persons listed as Lenders in the Register
as the holders and owners of the corresponding Commitments and Loans listed therein for all purposes hereof (notwithstanding notice
to the contrary), absent manifest error, and no assignment or transfer of any such Commitment or Loan shall be effective, in each
case, unless and until recorded in the Register following receipt of a fully executed Assignment Agreement effecting the assignment
or transfer thereof, together with the required forms and certificates regarding tax matters and any fees payable in connection
with such assignment, in each case, as provided in Section 10.06(c). Each assignment shall be recorded in the Register on the
Business Day the fully executed Assignment Agreement is received by the Administrative Agent, if received by 12:00 p.m. (New York
City time), and on the following Business Day if received after such time, prompt notice thereof shall be provided to the Borrower
and a copy of such Assignment Agreement shall be maintained, as applicable; provided that failure to record any assignment
in the Register shall not affect the rights of the Lenders. The date of such recordation of a transfer shall be referred to herein
as the “Assignment Effective Date.” Any request, authority or consent of any Person who, at the time of making
such request or giving such authority or consent, is listed in the Register as a Lender shall be conclusive and binding on any
subsequent holder, assignee or transferee of the corresponding Commitments or Loans.

 

(i)
Term Loan Purchases by the Borrower. Notwithstanding anything in this Agreement to the contrary, any Lender may, at any time,
assign all or a portion of its Loans on a non-pro rata basis to the Parent, the Borrower or any Subsidiary in accordance with
the procedures set forth as Exhibit L, pursuant to an offer made available to all other Lenders or of a particular class on a
pro rata basis (a “Dutch Auction”), subject to the following limitations:

 

(i)
the Parent shall represent and warrant as of the date of the launch of the Dutch Auction and on the date of any such assignment
that neither it, its Affiliates nor any of its respective directors or officers has any non-public information with respect to
the Parent or its Subsidiaries or any of their respective securities to the extent such information could have a material effect
upon, or otherwise be material to, an assigning Lender’s decision to assign Loans or a purchasing Lender’s decision
to purchase Loans that has not been disclosed to the applicable Lenders generally (other than to the extent any such Lender does
not wish to receive material non-public information with respect to the Parent or its Subsidiaries or any of their respective
securities) prior to such date;

 

(ii)
no Event of Default shall have occurred and be continuing before or immediately after giving effect to any such assignment; and

 

(iii)
any Loans acquired by the Parent, Borrower or any Subsidiary shall be immediately and automatically cancelled.

 

    	 	101	 

    	 

    

 

Section
10.07 Survival of Representations, Warranties and Agreements. All representations, warranties and agreements made herein
shall survive the execution and delivery hereof and the making of any Loan. Notwithstanding anything herein or implied by law
to the contrary, the agreements of each Loan Party set forth in Sections 2.16(cd),
2.17, 2.18, 10.02, 10.03 and 10.04 and the agreements of Lenders set forth in Sections 2.15, 9.03(b) and 9.06 shall survive the
payment of the Loans, and the termination hereof.

 

Section
10.08 No Waiver; Remedies Cumulative. No failure or delay on the part of any Agent or any Lender in the exercise of any
power, right or privilege hereunder or under any other Loan Document shall impair such power, right or privilege or be construed
to be a waiver of any default or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege
preclude other or further exercise thereof or of any other power, right or privilege. The rights, powers and remedies given to
each Agent and each Lender hereby are cumulative and shall be in addition to and independent of all rights, powers and remedies
existing by virtue of any statute or rule of law or in any of the other Loan Documents or any of the Hedge Agreements. Any forbearance
or failure to exercise, and any delay in exercising, any right, power or remedy hereunder shall not impair any such right, power
or remedy or be construed to be a waiver thereof, nor shall it preclude the further exercise of any such right, power or remedy.

 

Section
10.09 Marshalling; Payments Set Aside. Neither any Agent nor any Lender shall be under any obligation to marshal any assets
in favor of any Loan Party or any other Person or against or in payment of any or all of the Obligations. To the extent that any
Loan Party makes a payment or payments to the Administrative Agent or Lenders (or to the Administrative Agent, on behalf of Lenders),
or any Agent or Lenders enforce any security interests or exercise their rights of setoff, and such payment or payments or the
proceeds of such enforcement or setoff or any part thereof are subsequently invalidated, declared to be fraudulent or preferential,
set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, any other state or
federal law, common law or any equitable cause, then, to the extent of such recovery, the obligation or part thereof originally
intended to be satisfied, and all Liens, rights and remedies therefor or related thereto, shall be automatically reinstated and
continued in full force and effect as if such payment or payments had not been made or such enforcement or setoff had not occurred.

 

Section
10.10 Severability. In case any provision in or obligation hereunder or under any other Loan Document shall be invalid,
illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations,
or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

Section
10.11 Obligations Several; Independent Nature of Lenders’ Rights. The obligations of Lenders hereunder are several
and no Lender shall be responsible for the obligations or Commitment of any other Lender hereunder. Nothing contained herein or
in any other Loan Document, and no action taken by Lenders pursuant hereto or thereto, shall be deemed to constitute Lenders as
a partnership, an association, a joint venture or any other kind of entity. The amounts payable at any time hereunder to each
Lender shall be a separate and independent debt, and, subject to Section 9.08(b), each Lender shall be entitled to protect and
enforce its rights arising out hereof and it shall not be necessary for any other Lender to be joined as an additional party in
any proceeding for such purpose.

 

Section
10.12 Headings. Section headings herein are included herein for convenience of reference only and shall not constitute
a part hereof for any other purpose or be given any substantive effect.

 

Section
10.13 APPLICABLE LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND
SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ANY LAW, RULE,
PROVISION OR PRINCIPLE OF CONFLICTS OF LAWS THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF NEW YORK TO
BE APPLIED.

 

    	 	102	 

    	 

    

 

Section
10.14 CONSENT TO JURISDICTION. THE BORROWER AND EACH GUARANTOR IRREVOCABLY AND
UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW
OR EQUITY, WHETHER IN CONTRACT OR TORT OR OTHERWISE, AGAINST ANY AGENT, ANY LENDER OR ANY AFFILIATE OF ANY OF THE FOREGOING, IN
ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN A FORUM OTHER
THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY, AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT
OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS
TO THE JURISDICTION OF SUCH COURTS AND SUBJECT TO CLAUSE (E) OF THE FINAL SENTENCE OF THIS SECTION 10.14, AGREES THAT ALL CLAIMS
IN RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH
ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN
ANY OTHER MANNER PROVIDED BY LAW (WITHOUT DEROGATING FROM ANY PARTY’S RIGHT TO APPEAL ANY SUCH JUDGMENT). NOTHING IN THIS
AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT ANY AGENT OR ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION
OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY
JURISDICTION. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH LOAN PARTY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES,
HEREBY EXPRESSLY AND IRREVOCABLY (A) ACCEPTS GENERALLY AND UNCONDITIONALLY THE EXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS
(OTHER THAN WITH RESPECT TO ACTIONS BY ANY AGENT IN RESPECT OF RIGHTS UNDER ANY SECURITY DOCUMENT GOVERNED BY ANY LAWS OTHER THAN
THE LAWS OF THE STATE OF NEW YORK OR WITH RESPECT TO ANY COLLATERAL SUBJECT THERETO); (B) WAIVES (I) JURISDICTION AND VENUE OF
COURTS IN ANY OTHER JURISDICTION IN WHICH IT MAY BE ENTITLED TO BRING SUIT BY REASON OF ITS PRESENT OR FUTURE DOMICILE OR OTHERWISE
AND (II) ANY DEFENSE OF FORUM NON CONVENIENS; (C) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT
MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE LOAN PARTY AT ITS ADDRESS PROVIDED IN
ACCORDANCE WITH SECTION 10.01; (D) AGREES THAT SERVICE AS PROVIDED IN CLAUSE (C) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION
OVER THE APPLICABLE LOAN PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE
IN EVERY RESPECT; AND (E) AGREES THAT THE AGENTS AND THE LENDERS RETAIN THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED
BY LAW OR TO BRING PROCEEDINGS AGAINST ANY LOAN PARTY IN THE COURTS OF ANY OTHER JURISDICTION IN CONNECTION WITH THE EXERCISE
OF ANY RIGHTS UNDER ANY SECURITY DOCUMENT OR THE ENFORCEMENT OF ANY JUDGMENT.

 

Section
10.15 Confidentiality. Each Agent and each Lender shall hold all non-public information regarding Parent and its Subsidiaries
and their businesses identified as such by Parent and obtained by such Agent or such Lender pursuant to the requirements hereof
in accordance with such Agent’s and such Lender’s customary procedures for handling confidential information of such
nature, it being understood and agreed by Parent and the Borrower that, in any event, the Administrative Agent may disclose such
information to the Lenders and each Agent and each Lender may make (i) disclosures of such information to Affiliates or Related
Funds of such Lender or Agent and to their respective agents and advisors (and to other Persons authorized by a Lender or Agent
to organize, present or disseminate such information in connection with disclosures otherwise made in accordance with this Section
10.15), (ii) disclosures of such information reasonably required by any bona fide or potential assignee, transferee or participant
in connection with the contemplated assignment, transfer or participation of any Loans or any participations therein or by any
direct or indirect contractual counterparties (or the professional advisors thereto) to any swap or derivative transaction relating
to Parent or the Borrower and their obligations; provided that such assignees, transferees, participants, counterparties
and advisors are advised of and agree to be bound by either the provisions of this Section 10.15 or other provisions at least
as restrictive as this Section 10.15, (iii) disclosure to any rating agency when required by it; provided that, prior to
any disclosure, such rating agency has undertaken in writing to preserve the confidentiality of any confidential information relating
to the Loan Parties received by it from any Agent or any Lender, (iv) disclosures in connection with the exercise of any remedies
hereunder or under any other Loan Document, (v) disclosures required or requested by any governmental agency or representative
thereof or by the NAIC or pursuant to legal or judicial process or by any regulatory authority having or claiming authority over
any Lender, (vi) disclosures to its employees, directors, agents, attorneys, accountants and other professional advisors or those
of any of its affiliates and (vii) disclosures requested or required to be made in connection with any litigation or similar proceeding;
provided that unless prohibited by applicable law or court order, each Lender and each Agent shall make reasonable efforts
to notify the Borrower of any request by any governmental agency or representative thereof (other than any such request in connection
with any examination of the financial condition or other routine examination of such Lender by such governmental agency) for disclosure
of any such non-public information prior to disclosure of such information. In addition, each Agent and each Lender may disclose
the existence of this Agreement and the information about this Agreement to market data collectors, similar services providers
to the lending industry, and service providers to the Agents and the Lenders in connection with the administration and management
of this Agreement and the other Loan Documents.

 

    	 	103	 

    	 

    

 

Section
10.16 Usury Savings Clause. Notwithstanding any other provision herein, the aggregate interest rate charged with respect
to any of the Obligations, including all charges or fees in connection therewith deemed in the nature of interest under applicable
law, shall not exceed the Highest Lawful Rate. If the rate of interest (determined without regard to the preceding sentence) under
this Agreement at any time exceeds the Highest Lawful Rate, the outstanding amount of the Loans made hereunder shall bear interest
at the Highest Lawful Rate until the total amount of interest due hereunder equals the amount of interest which would have been
due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect. In addition, if when
the Loans made hereunder are repaid in full the total interest due hereunder (taking into account the increase provided for above)
is less than the total amount of interest which would have been due hereunder if the stated rates of interest set forth in this
Agreement had at all times been in effect, then to the extent permitted by law, the Borrower shall pay to the Administrative Agent
an amount equal to the difference between the amount of interest paid and the amount of interest which would have been paid if
the Highest Lawful Rate had at all times been in effect. Notwithstanding the foregoing, it is the intention of Lenders and the
Borrower to conform strictly to any applicable usury laws. Accordingly, if any Lender contracts for, charges, or receives any
consideration which constitutes interest in excess of the Highest Lawful Rate, then any such excess shall be cancelled automatically
and, if previously paid, shall at such Lender’s option be applied to the outstanding amount of the Loans made hereunder
or be refunded to the Borrower.

 

Section
10.17 Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered
shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. Delivery of
an executed counterpart of a signature page to this Agreement by facsimile or other electronic transmission will be effective
as delivery of a manually executed counterpart thereof.

 

Section
10.18 Effectiveness; Entire Agreement; No Third Party Beneficiaries. This Agreement shall become effective upon the execution
of a counterpart hereof by each of the parties hereto and receipt by the Borrower and the Administrative Agent of written notification
of such execution and authorization of delivery thereof. This Agreement and the other Loan Documents represent the entire agreement
of Parent, the Borrower and their Subsidiaries, the Agents, the Arrangers and the Lenders with respect to the subject matter hereof
and thereof, and there are no promises, undertakings, representations or warranties by any Agent or Lender or the Arrangers relative
to the subject matter hereof or thereof not expressly set forth or referred to herein or in the other Loan Documents. Nothing
in this Agreement or in the other Loan Documents, express or implied, is intended to confer upon any Person (other than the parties
hereto and thereto, their respective successors and assigns permitted hereunder and, to the extent expressly contemplated hereby,
the Indemnitees) any rights, remedies, obligations or liabilities under or by reason of this Agreement or the other Loan Documents.

 

Section
10.19 PATRIOT Act. Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies
each Loan Party that pursuant to the requirements of the PATRIOT Act, it is required to obtain, verify and record information
that identifies each Loan Party, which information includes the name and address of each Loan Party and other information that
shall allow such Lender or the Administrative Agent, as applicable, to identify such Loan Party in accordance with the PATRIOT
Act.

 

Section
10.20 Electronic Execution of Assignments. The words “execution,” “signed,” “signature,”
and words of like import in any Assignment Agreement shall be deemed to include electronic signatures or the keeping of records
in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature
or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and
Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

 

    	 	104	 

    	 

    

 

Section
10.21 No Fiduciary Duty. Each Agent, the Arrangers, each Lender and their Affiliates (collectively, solely for purposes
of this section, the “Lenders”) may have economic interests that conflict with those of Parent and the Borrower.
Parent and the Borrower agree that nothing in the Loan Documents or otherwise shall be deemed to create an advisory, fiduciary
or agency relationship or fiduciary or other implied duty between the Lenders and either of Parent or the Borrower, its stockholders
or its affiliates. The Loan Parties acknowledge and agree that (i) the transactions contemplated by the Loan Documents are arm’s-length
commercial transactions between the Lenders, on the one hand, and the Borrower, on the other, (ii) in connection therewith and
with the process leading to such transaction each of the Lenders is acting solely as a principal and not the agent or fiduciary
of the Borrower, its management, stockholders, creditors or any other person, (iii) no Lender has assumed an advisory or fiduciary
responsibility in favor of the Borrower with respect to the transactions contemplated hereby or the process leading thereto (irrespective
of whether any Lender or any of its affiliates has advised or is currently advising the Borrower on other matters) or any other
obligation to the Borrower except the obligations expressly set forth in the Loan Documents and (iv) the Borrower has consulted
its own legal and financial advisors to the extent it deemed appropriate. The Borrower further acknowledges and agrees that it
is responsible for making its own independent judgment with respect to such transactions and the process leading thereto. The
Borrower agrees that it shall not claim that any Lender has rendered advisory services of any nature or respect, or owes a fiduciary
or similar duty to the Borrower, in connection with such transaction or the process leading thereto, and agrees to waive any claims
for breach of any alleged fiduciary duty by any Lender.

 

Section
10.22 WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF
ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER OR UNDER ANY OF THE OTHER LOAN DOCUMENTS OR ANY DEALINGS BETWEEN
THEM RELATING TO THE SUBJECT MATTER OF THIS LOAN TRANSACTION OR THE LENDER/BORROWER RELATIONSHIP THAT IS BEING ESTABLISHED. THE
SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE
TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON
LAW AND STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP,
THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER
IN ITS RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL
COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER
IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY
REFERRING TO THIS SECTION 10.22 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER WILL APPLY TO ANY SUBSEQUENT AMENDMENTS,
RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF THE OTHER LOAN DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING
TO THE LOANS MADE HEREUNDER. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

 

Section
10.23 Amendment and Restatement; No Novation.

 

(a)
This Agreement constitutes an amendment and restatement of the Existing Term LoanCredit
Agreement effective from and after the Restatement Effective Date. The execution and delivery of this Agreement shall
not constitute a novation of any Indebtedness or other Obligations owing to the Lenders or the Administrative Agent under the
Existing Credit Agreement based on facts or events occurring or existing prior to the execution and delivery of this Agreement.
On the Restatement Effective Date, the credit facilities described in the Existing Credit Agreement shall be amended, supplemented,
modified and restated in their entirety by the facilities described herein, all loans and other obligations of the Borrower outstanding
as of such date under the Existing Credit Agreement shall be deemed to be Loans and Obligations outstanding under the corresponding
facilities described herein, without any further action by any Person.

 

    	 	105	 

    	 

    

 

(b)
In connection with the foregoing, by signing this Agreement, each Loan Party hereby confirms that notwithstanding the effectiveness
of this Agreement and the transactions contemplated hereby (i) the Obligations of such Loan Party under this Agreement and the
other Loan Documents are entitled to the benefits of the guarantees and the security interests set forth or created herein and
in the Security Documents, (ii) each Guarantor hereby confirms and ratifies its continuing unconditional obligations as Guarantor
with respect to all of the Guaranteed Obligations, (iii) each Loan Document to which such Loan Party is a party is, and shall
continue to be, in full force and effect and is hereby ratified and confirmed in all respects and shall remain in full force and
effect according to its terms, (iv) such Loan Party ratifies and confirms that all Liens granted, conveyed, or collaterally assigned
to any Agent by such Person pursuant to any Loan Document to which it is a party remain in full force and effect, are not released
or reduced, and continue to secure full payment and performance of the Obligations and (v) each of the Administrative Agent and
Collateral Agent are authorized to enter into any Junior Lien Intercreditor Agreement.

 

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

 

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

 

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

 

the
variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution
Authority.

 

Section
10.25 Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee
or otherwise, for any Hedge Agreement 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, with respect to the resolution power
of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street
Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution
Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions of this Section 10.25 applicable
notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of
New York and/or of the United States or any other state of the United States) that, in the event a Covered Entity that is party
to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution
Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under
such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support)
from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution
Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed
by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered
Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might
otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted
to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the
Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation
of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall
in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.

 

[Remainder
of page intentionally left blank]

 

    	 	106	 

    	 

    

 

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

 

	 	OCWEN
    FINANCIAL CORPORATION
	 	 	 
	 	By:	                  
	 	Name:	 
	 	Title:	 
	 	 	 
	 	OCWEN
    LOAN SERVICING, LLC
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	OCWEN
    MORTGAGE SERVICING, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	HOMEWARD
    RESIDENTIAL HOLDINGS, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	HOMEWARD
    RESIDENTIAL, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	AUTOMOTIVE
    CAPITAL SERVICES, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	BARCLAYS
    BANK PLC,
	 	as
    Administrative Agent, Collateral Agent and a Lender
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 	 	 

    	 

    

 

EXHIBIT
B

 

SCHEDULES

 

[OMITTED]

 

    	 	 	 

    	 

    

 

EXHIBIT
C

 

COMPLIANCE
CERTIFICATE

 

[OMITTED]

 

    	 	 	 

    	 

    

 

EXHIBIT
D

 

EXHIBIT
L

 

AUCTION
PROCEDURES

 

This
outline is intended to summarize certain basic terms of procedures with respect to Dutch Auctions pursuant to and in accordance
with the terms and conditions of Section 10.06(i) of the Amended and Restated Senior Secured Term Loan Facility Agreement (the
“Loan Agreement”) to which this Exhibit L is attached. It is not intended to be a definitive list of
all of the terms and conditions of a Dutch Auction and all such terms and conditions shall be set forth in the applicable auction
procedures documentation set for each Dutch Auction (the “Offer Documents”). Neither the Administrative Agent
nor any investment bank of recognized standing selected by the Borrower to act as the auction manager (the “Auction Manager”)
or any of their respective Affiliates makes any recommendation pursuant to the Offer Documents as to whether or not any Lender
should sell by assignment any of its Loans pursuant to the Offer Documents (including, for the avoidance of doubt, by participating
in the Dutch Auction as a Lender) or whether or not the Parent, the Borrower or any Subsidiary (each a “Purchaser”)
should purchase by assignment any Loans from any Lender pursuant to any Dutch Auction. Each applicable Lender should make its
own decision as to whether to sell by assignment any of its applicable Loans and, if it decides to do so, the principal amount
of and price to be sought for such Loans. In addition, each applicable Lender should consult its own attorney, business advisor
or tax advisor as to legal, business, tax and related matters concerning any Dutch Auction and the Offer Documents. Capitalized
terms not otherwise defined in this Exhibit L have the meanings assigned to them in the Loan Agreement.

 

Summary.
Any Purchaser may purchase (by assignment) Loans on a non-pro rata basis by conducting one or more Dutch Auctions pursuant
to the procedures described herein; provided that no more than one Dutch Auction may be ongoing at any one time and no more than
four Dutch Auctions may be made in any period of four consecutive fiscal quarters of the Borrower.

 

1.
Notice Procedures. In connection with each Dutch Auction, the Purchaser will notify the Auction Manager (for distribution
to the applicable Lenders) of the Loans that will be the subject of the Dutch Auction by delivering to the Auction Manager a written
notice in form and substance reasonably satisfactory to the Auction Manager (an “Auction Notice”). Each Auction
Notice shall contain (i) the maximum principal amount of Loans the Purchaser is willing to purchase (by assignment) in the Dutch
Auction (the “Auction Amount”), which shall be no less than $1,000,000 or an integral multiple of $1,000,000
in excess thereof, (ii) the range of discounts to par (the “Discount Range”), expressed as a range of prices
per $1,000 of the applicable Loans, at which the Purchaser would be willing to purchase such Loans in the Dutch Auction and (iii)
the date on which the Dutch Auction will conclude, on which date Return Bids (as defined below) will be due at the time provided
in the Auction Notice (such time, the “Expiration Time”), as such date and time may be extended upon notice
by the Purchaser to the Auction Manager not less than 24 hours before the original Expiration Time. The Auction Manager will deliver
a copy of the Offer Documents to each applicable Lender promptly following completion thereof.

 

    	 	 	 

    	 

    

 

2.
Reply Procedures. In connection with any Dutch Auction, each applicable Lender holding the applicable Loans wishing to
participate in such Dutch Auction shall, prior to the Expiration Time, provide the Auction Manager with a notice of participation
in form and substance reasonably satisfactory to the Auction Manager (the “Return Bid”) to be included in the
Offer Documents, which shall specify (i) a discount to par that must be expressed as a price per $1,000 of such Loans (the “Reply
Price”) within the Discount Range and (ii) the principal amount of such Loans, in an amount not less than $1,000,000,
that such Lender is willing to offer for sale at its Reply Price (the “Reply Amount”); provided that
each Lender may submit a Reply Amount that is less than the minimum amount and incremental amount requirements described above
only if the Reply Amount equals the entire amount of the Loans held by such Lender at such time. A Lender may only submit one
Return Bid per Dutch Auction, but each Return Bid may contain up to three component bids, each of which may result in a separate
Qualifying Bid (as defined below) and each of which will not be contingent on any other component bid submitted by such Lender
resulting in a Qualifying Bid. In addition to the Return Bid, a participating Lender must execute and deliver, to be held by the
Auction Manager, an assignment and acceptance in the form included in the Offer Documents which shall be in form and substance
reasonably satisfactory to the Auction Manager and the Administrative Agent (the “Auction Assignment and Acceptance”).
The Purchaser will not purchase any Loans at a price that is outside of the applicable Discount Range, nor will any Return Bids
(including any component bids specified therein) submitted at a price that is outside such applicable Discount Range be considered
in any calculation of the Applicable Threshold Price (as defined below).

 

3.
Acceptance Procedures. Based on the Reply Prices and Reply Amounts received by the Auction Manager, the Auction Manager,
in consultation with the Purchaser, will calculate the lowest purchase price (the “Applicable Threshold Price”)
for the Dutch Auction within the Discount Range for the Dutch Auction that will allow the Purchaser to complete the Dutch Auction
by purchasing the full Auction Amount (or such lesser amount of Loans for which the Purchaser has received Qualifying Bids). The
Purchaser shall purchase (by assignment) Loans from each Lender whose Return Bid is within the Discount Range and contains a Reply
Price that is equal to or less than the Applicable Threshold Price (each, a “Qualifying Bid”). All Loans included
in Qualifying Bids received at a Reply Price lower than the Applicable Threshold Price will be purchased at a purchase price equal
to the applicable Reply Price and shall not be subject to proration. If a Lender has submitted a Return Bid containing multiple
component bids at different Reply Prices, then all Loans of such Lender offered in any such component bid that constitutes a Qualifying
Bid with a Reply Price lower than the Applicable Threshold Price shall also be purchased at a purchase price equal to the applicable
Reply Price and shall not be subject to proration.

 

4.
Proration Procedures. All Loans offered in Return Bids (or, if applicable, any component bid thereof) constituting Qualifying
Bids equal to the Applicable Threshold Price will be purchased at a purchase price equal to the Applicable Threshold Price; provided
that if the aggregate principal amount of all Loans for which Qualifying Bids have been submitted in any given Dutch Auction
equal to the Applicable Threshold Price would exceed the remaining portion of the Auction Amount (after deducting all Loans purchased
below the Applicable Threshold Price), the Purchaser shall purchase the Loans for which the Qualifying Bids submitted were at
the Applicable Threshold Price ratably based on the respective principal amounts offered and in an aggregate amount up to the
amount necessary to complete the purchase of the Auction Amount. For the avoidance of doubt, no Return Bids (or any component
thereof) will be accepted above the Applicable Threshold Price.

 

    	 	 	 

    	 

    

 

5.
Notification Procedures. The Auction Manager will calculate the Applicable Threshold Price no later than the fifth Business
Day after the date that the Return Bids were due. The Auction Manager will insert the principal amount of Loans to be assigned
and the applicable settlement date determined by the Auction Manager in consultation with the Purchaser onto each applicable Auction
Assignment and Acceptance received in connection with a Qualifying Bid. Upon written request of the submitting Lender, the Auction
Manager will promptly return any Auction Assignment and Acceptance received in connection with a Return Bid that is not a Qualifying
Bid.

 

6.
Additional Procedures. Once initiated by an Auction Notice, the Purchaser may withdraw a Dutch Auction by written notice
to the Auction Manager no later than 24 hours before the original Expiration Time so long as no Qualifying Bids have been received
by the Auction Manager at or prior to the time the Auction Manager receives such written notice from the Purchaser. Any Return
Bid (including any component bid thereof) delivered to the Auction Manager may not be modified, revoked, terminated or cancelled;
provided that a Lender may modify a Return Bid at any time prior to the Expiration Time solely to reduce the Reply Price
included in such Return Bid. The purchase shall be consummated pursuant to and in accordance with Section 10.06(i) and,
to the extent not otherwise provided herein, shall otherwise be consummated pursuant to procedures (including as to timing, rounding
and minimum amounts, Interest Periods, and other notices by the Purchaser or such Subsidiaries, as applicable) reasonably acceptable
to the Administrative Agent or the Auction Manager, applicable, and the Purchaser. The purchase price for all Loans purchased
in a Dutch Auction shall be paid in cash by the Purchaser directly to the respective assigning Lender on a settlement date as
determined by the Auction Manager in consultation with the Purchaser (which shall be no later than 10 Business Days after the
date Return Bids are due), along with accrued and unpaid interest (if any) on the applicable Loans up to the settlement date.
The Purchaser shall execute each applicable Auction Assignment and Acceptance received in connection with a Qualifying Bid.

 

All
questions as to the form of documents and validity and eligibility of Loans that are the subject of a Dutch Auction will be determined
by the Auction Manager, in consultation with the Purchaser, and the Auction Manager’s determination will be conclusive,
absent manifest error. The Auction Manager’s interpretation of the terms and conditions of the Offer Documents, in consultation
with the Purchaser, will be final and binding.

 

None
of the Administrative Agent, the Auction Manager, any other Agent or any of their respective Affiliates assumes any responsibility
for the accuracy or completeness of the information concerning the Purchaser, the Subsidiaries or any of their Affiliates contained
in the Offer Documents or otherwise or for any failure to disclose events that may have occurred and may affect the significance
or accuracy of such information.

 

The
Auction Manager acting in its capacity as such under a Dutch Auction shall be entitled to the benefits of the provisions of Article
VIII and Section 10.06 of the Loan Agreement to the same extent as if each reference therein to the “Administrative Agent”
were a reference to the Auction Manager, each reference therein to the “Loan Documents” were a reference to the Offer
Documents, the Auction Notice and Auction Assignment and Acceptance and each reference therein to the “Transactions”
were a reference to the transactions contemplated hereby and the Administrative Agent shall cooperate with the Auction Manager
as reasonably requested by the Auction Manager in order to enable it to perform its responsibilities and duties in connection
with each Dutch Auction.

 

This
Exhibit L shall not require any Purchaser to initiate any Dutch Auction, nor shall any Lender be obligated to participate
in any Dutch Auction.

 

    	 	 	 

    	 

    

 

EXHIBIT
E

 

LENDER
CONSENT

 

This
Lender Consent is delivered with reference to the Amended and Restated Senior Secured Term Loan Facility Agreement, dated as of
December 5, 2016 (as amended by the Joinder and Amendment Agreement, dated as of March 18, 2019, the “Existing Credit
Agreement”) by and among PHH MORTGAGE CORPORATION, a New Jersey corporation (as successor by merger to Ocwen Loan Servicing,
LLC), OCWEN FINANCIAL CORPORATION, a Florida corporation, certain Subsidiaries of Parent, as Subsidiary Guarantors, the Lenders
party thereto and BARCLAYS BANK PLC, as Administrative Agent. Capitalized terms used herein are used with the meanings set forth
in the Existing Credit Agreement.

 

The
undersigned Lender hereby irrevocably approves of and consents to the proposed Joinder and Second Amendment Agreement (the “Amendment”),
substantially in the form heretofore delivered to the Lenders.

 

The
undersigned Lender hereby agrees to extend the maturity of all of its Restatement Effective Date Term Loans (as such amount may
be reduced by the Arrangers) under the Existing Credit Agreement pursuant to the extension described in the Amendment.

 

	 	 
	 	(Name
    of Institution including branch if applicable)
	 	 	 
	 	By:	 
	 	Name:	        
	 	Title:	 
	 	 	 
	 	If
    a second signature is necessary:
	 	 	 
	 	By:	 
	 	Name:	 

 

    	 	 	 

    	 

    

 

SCHEDULE
A

 

	Name of Lender	Amount
	BARCLAYS BANK PLC	                  $10,966,203.99Exhibit 10.1

 

Execution Version

 

January
26, 2020

 

Monocle Acquisition Corporation

Monocle Holdings Inc.

750 Lexington Avenue, Suite 1501

New York, NY 10022

Attn: Eric Zahler

 

COMMITMENT
LETTER

$75 MILLION SENIOR SECURED FILO CREDIT FACILITY

 

Ladies and Gentlemen:

 

Veritas Capital Credit Funding, L.P., a
Delaware limited partnership, and/or one or more of its affiliates (collectively, the “Commitment Party or
 “we” or “us”) understand that Monocle Acquisition Corporation, a Delaware corporation
(“Monocle”), has formed a wholly-owned subsidiary, Monocle Holdings Inc., a Delaware corporation (“Newco”
and together with Monocle, the “Recipients” or “you”), for the sole purpose
of acquiring, directly or indirectly (through one or more of Newco’s wholly-owned subsidiaries), 100% of the equity interests
of AerSale Corp., formerly known as AerSale Holdings, Inc. (“AerSale Corp.”) (the “Acquisition”).
The Acquisition is expected to be accomplished pursuant to the Acquisition Agreement (as defined below) whereby (i) Monocle Merger
Sub 1 Inc., a Delaware corporation and a wholly-owned direct subsidiary of Newco, will merge with and into Monocle, with Monocle
being the surviving corporation and (ii) Monocle Merger Sub 2 Inc., a Delaware corporation and an indirect wholly-owned subsidiary
of Newco, will merge with and into AerSale Corp., with AerSale Corp. being the surviving corporation. We understand that you would
like to obtain financing for Newco, and after consummation of the Acquisition, AerSale, Inc. and certain other subsidiaries of
AerSale Corp. (individually and collectively, the “Company”) in order to (a) finance a portion of the
consideration payable in connection with the consummation of the Acquisition, (b) refinance and/or rearrange certain of the Company’s
existing indebtedness, (c) finance general corporate purposes of the Company and (d) pay fees and expenses associated with the
Acquisition and related transactions (the foregoing, together with the incurrence of indebtedness pursuant to, and other transactions
consummated in connection with or otherwise relating to, the FILO Facility (as defined below) or contemplated by this Commitment
Letter, collectively, the “Transactions”). You have informed us that the projected sources and uses (the
 “Sources and Uses”) for the debt and equity financing of the Transactions are as set forth on Annex
A hereto (which are subject to change in accordance with clause (c) of the first paragraph of the “Conditions”
section below).

 

		1.	Commitment

 

We are pleased to provide you with this
commitment letter (this letter agreement, together with the annexes and exhibits attached hereto (collectively, this “Commitment
Letter”), and including, for the avoidance of doubt, the Summary of FILO Credit Facility Terms and Conditions attached
as Exhibit I hereto (together with all appendices thereto, collectively, the “Term Sheet”)) establishing
the terms and conditions under which the Commitment Party commits to provide to the Company term loans in an aggregate principal
amount up to the Maximum FILO Facility Amount (as defined in the Term Sheet) pursuant to the FILO Facility (as defined and further
described in the Term Sheet) (the “Commitment”). The parties acknowledge that this Commitment Letter
summarizes all of the substantive covenants, representations, and events of default (but do not purport to summarize all of the
other provisions) that will be contained in the definitive documentation for the FILO Facility. The parties agree that such covenants,
representations, warranties and other provisions (to the extent not already expressly addressed in this Commitment Letter) will
be based on the corresponding provisions set forth in that certain Amended and Restated Credit Agreement, dated as of July 20,
2018, by and among Wells Fargo, as Administrative Agent, Lead Arranger and Book Runner, the lenders that are party thereto, AerSale
Corp. and the Company (the “Existing Credit Agreement” and the credit facility provided thereunder, the
 “Existing Credit Facility”) and subject to the Documentation Considerations (as defined in the Term Sheet).

 

     

    
Monocle Acquisition Corporation
 Monocle Holdings Inc.
 January 26, 2020

    

 

		2.	Confidentiality

 

(a)              
You agree that this Commitment Letter (including the Term Sheet) is for your confidential use only in connection with the
Transactions, and that neither its existence, nor the terms hereof, will be disclosed by you to any person other than your officers,
directors, employees, accountants, attorneys, and other advisors, and then only on a “need-to-know” basis in connection
with the Transactions and on a confidential basis. The foregoing notwithstanding, following your acceptance of this Commitment
Letter in accordance herewith, you may (i) provide a copy hereof (including the Term Sheet) to the Company (so long as it agrees
not to disclose this Commitment Letter (including the Term Sheet) other than to its affiliates, officers, directors, employees,
accountants, attorneys, and other advisors, and then only on a “need to know” basis in connection with the Transactions
and on a confidential basis), and (ii) file or make such other public disclosures of the terms and conditions hereof (including
the Term Sheet (but not including the Appendix A thereto)) as you are required by law, in the opinion of your counsel, to
make (in which case you agree, to the extent permitted by law and to the extent reasonably practicable, to consult with the Commitment
Party prior to making any such disclosure).

 

(b)              
The Commitment Party agrees that material, non-public information for purposes of the United States federal and state securities
laws regarding AerSale Corp., the Company and its subsidiaries, their operations, assets, and existing and contemplated business
plans that has been provided to the Commitment Party by the Company in connection with the Transactions and marked as “MNPI”
(collectively, the “Company MNPI”) shall be treated by the Commitment Party in a confidential manner,
and shall not be disclosed by the Commitment Party to persons who are not parties to this Commitment Letter, except: (i) subject
to sub-clause (ii), to the Commitment Party’s Related Persons, in each case, on a “need to know” basis in connection
with Transactions contemplated hereby, and on a confidential basis, (ii) to subsidiaries and affiliates of the Commitment Party,
and their respective Related Persons (as defined below); provided, that any such subsidiary or affiliate shall have agreed
to receive such Company MNPI hereunder subject to the terms of this clause (b), (iii) as may be required by a regulatory banking,
financial, accounting, securities or similar supervisory authority exercising its supervisory or audit functions, so long as such
authorities are informed of the confidential nature of such Company MNPI, (iv) as may be required by statute, decision, or judicial
or administrative order, rule, or regulation; provided, that prior to any disclosure under this clause (iv), the disclosing
party agrees to provide you with prior notice thereof, to the extent that it is practicable to do so and to the extent that the
disclosing party is permitted to provide such prior notice to you pursuant to the terms of the applicable statute, decision, or
judicial or administrative order, rule, or regulation, (v) as may be agreed to in advance by you (such agreement not to be unreasonably
withheld, conditioned or delayed), (vi) as requested or required by any governmental authority pursuant to any subpoena or other
legal process; provided, that prior to any disclosure under this clause (vi) the disclosing party agrees to provide you
with prior notice thereof, to the extent that it is practicable to do so and to the extent that the disclosing party is permitted
to provide such prior notice to you pursuant to the terms of the subpoena or other legal process, (vii) as to any such Company
MNPI that is or becomes generally available to the public (other than as a result of prohibited disclosure by the Commitment Party),
(viii) in connection with any proposed permitted assignment or participation of the Commitment Party’s interest in the FILO
Facility; provided, that any such proposed assignee or participant shall have agreed to receive such Company MNPI subject
to the terms of this clause (b), and (ix) in connection with any litigation or other adverse proceeding involving parties to this
Commitment Letter; provided, that prior to any disclosure to a party other than a party to this Commitment Letter, the Lenders
(as defined in the Term Sheet), their respective affiliates and their respective counsel under this clause (ix) with respect to
litigation involving a party other than the parties to this Commitment Letter, the Lenders, and/or their respective affiliates,
the disclosing party agrees to provide you with prior notice thereof. As used in this Commitment Letter, “Related Persons”
means, with respect to any person, such person’s affiliates and subsidiaries, and its and their respective controlling persons,
officers, directors, members, managers, partners, investors, creditors, managed funds or accounts, shareholders, employees, attorneys,
advisors, accountants, auditors, insurers and reinsurers, and other experts, representatives and consultants.

 

     

    
Monocle Acquisition Corporation
 Monocle Holdings Inc.
 January 26, 2020

    

 

(c)              
Anything to the contrary in this Commitment Letter notwithstanding, each Recipient agrees, on behalf of itself and the Company,
that (i) the Commitment Party shall have the right to provide information concerning the FILO Facility to its financing sources,
ratings agencies and any loan syndication and reporting services, and (ii) that the Projections, the Marketing Materials and all
other information provided by or on behalf of you, the Company or AerSale Corp., and your and their respective affiliates to the
Commitment Party regarding Recipients, the Company or AerSale Corp., and their respective affiliates, the Transactions, in each
case, may be disseminated by or on behalf of the Commitment Party to prospective lenders, financing sources and other persons,
who have agreed to be bound by customary confidentiality undertakings (including, “click-through” agreements), all
in accordance with the Commitment Party’s standard practices (whether transmitted electronically by means of a website, e-mail
or otherwise, or made available orally or in writing, including at potential lender or other meetings). You (and you will cause
the Company to) hereby further authorize the Commitment Party and its representatives to download copies of each Recipient’s
and the Company’s logos from their respective websites and post copies thereof on SyndTrak® or similar workspace
and use the logos on any confidential information memoranda, presentations and other Marketing Materials prepared in connection
with the FILO Facility or the other Transactions.

 

     

    
Monocle Acquisition Corporation
 Monocle Holdings Inc.
 January 26, 2020

    

 

		3.	Costs and Expenses

 

In consideration of the issuance of this
Commitment Letter and the Commitments hereunder by the Commitment Party, and recognizing that, in connection with the Transactions,
the Commitment Party has been and will be incurring costs and expenses (including, without limitation, fees and disbursements of
counsel, search and filing fees, costs and expenses of due diligence, transportation, duplication, messenger, appraisal, audit,
syndication, and consultant costs and expenses), you hereby agree to pay or reimburse the Commitment Party, on the earlier of the
Closing Date and the Commitment Expiration Date (as defined below), for all of such reasonable and documented costs and expenses,
regardless of whether the Transactions are consummated (other than in connection with a termination of this Commitment Letter as
a result of Commitment Party’s breach of its lending commitments hereunder); provided, that the aggregate amount of
such costs and expenses for which you shall be liable hereunder shall not exceed $400,000 (collectively, the “Expenses”).
In order to enable you to understand the extent of your obligations under this paragraph, the Commitment Party agrees (a) to provide
telephonic updates as to the estimated accrued amount of costs and expenses payable by you to the Commitment Party pursuant to
the preceding paragraph from time to time at your reasonable request, and (b) to advise you if the Commitment Party’s Expenses
are at or about $75,000. You also agree to pay all costs and expenses of the Commitment Party (including, without limitation, fees
and disbursements of counsel) incurred in connection with the enforcement of any of its rights and remedies hereunder.

 

		4.	Indemnification

 

Each Recipient agrees to indemnify, defend,
and hold harmless the Commitment Party, each Lender, the Agent (as defined in the Term Sheet) and each of their respective Related
Persons (each, an “Indemnified Person”) as set forth on Annex B hereto.

 

		5.	Conditions

 

The Commitment shall be subject only to
the satisfaction of the following conditions (or the written waiver thereof by the Commitment Party): (a) the execution and delivery
of the FILO Credit Agreement (as defined in the Term Sheet) and the other Loan Documents (as defined in the Term Sheet) in form
and substance, and containing terms that are, materially consistent with the terms and conditions set forth herein and in the Term
Sheet (subject to the Documentation Considerations), subject to the Certain Funds Provisions, (b) since December 31, 2018, there
shall not have occurred any Material Adverse Effect (as that term is defined in the Agreement and Plan of Merger relative to the
Acquisition dated December 8, 2019 (as in effect on the date hereof and with such changes thereto as are not materially adverse
to the interests of the Commitment Party or the Lenders or are otherwise consented to by the Commitment Party, the “Acquisition
Agreement”)), (c) the absence of any change, in any material respect, to the Sources and Uses, and (d) the terms
and conditions set forth in Appendix B to the Term Sheet.

 

Notwithstanding anything in this Commitment
Letter or any other letter agreement or other undertaking concerning the FILO Facility to the contrary, the following provisions
(the “Certain Funds Provisions”) shall apply: (i) the only representations and warranties the accuracy
of which shall be a condition to the availability of the FILO Facility on the Closing Date shall be (A) the representations and
warranties made by the Company and AerSale Corp. in the Acquisition Agreement (provided that the inaccuracy of any such representation
or warranty will not result in the failure of a condition unless Monocle and/or Newco has a right not to consummate the transactions
contemplated by the Acquisition Agreement or to terminate their obligations under the Acquisition Agreement as a result of a breach
of such representations and warranties after giving effect to any notice or cure periods) (such representations described in this
subclause (A), the “Acquisition Agreement Representations”), and (B) the Specified Representations (as
defined below), and (ii) the terms of the Loan Documents shall be subject to the Documentation Considerations and in any event
shall be in a form that they do not impair the availability of the FILO Facility on the Closing Date if the conditions set forth
in this section entitled “Conditions” are met and contain no conditions precedent to the funding of the FILO Facility
on the Closing Date other than those set forth in this section entitled “Conditions”, the satisfaction of which shall
obligate the Commitment Party, in accordance with its Commitment, to provide the FILO Facility on the terms set forth in this Commitment
Letter. For purposes hereof, “Specified Representations” means the representations and warranties set
forth in the Loan Documents relating to organization; existence; power and authority; due authorization, execution, delivery and
enforceability of the Loan Documents; no contravention of, or conflict with, the Loan Parties’ governing documents; compliance
with the Patriot Act, applicable sanctions and anti-money laundering, anti-terrorism, anti-corruption, anti-bribery and similar
laws; use of proceeds not violating OFAC, FCPA, and applicable sanctions, and anti-money laundering, anti-terrorism, anti-corruption
and anti-bribery or similar laws; solvency (consistent with the solvency certificate attached as Annex D hereto); Federal
Reserve Bank margin regulations; the Investment Company Act; and the perfection of the liens and security interests granted in
the collateral as of the Closing Date.

     

    
Monocle Acquisition Corporation
 Monocle Holdings Inc.
 January 26, 2020

    

 

		6.	Exclusivity

 

Unless we have breached or repudiated our
lending commitment obligations hereunder, on or prior to August 31, 2020, you agree to work exclusively with us to consummate the
debt financing for the Transactions and agree that you will not (a) engage in any discussions with any other lender or funding
source regarding a debt financing alternative to the FILO Facility, (b) provide any deposit to any other lender or funding source
in connection with a debt financing alternative to the FILO Facility, (c) solicit or accept a proposal or commitment from another
lender or funding source in connection with a debt financing alternative to the FILO Facility, or (d) otherwise permit or encourage
another person to solicit a debt financing proposal or conduct due diligence in connection with a debt financing alternative to
the FILO Facility. In consideration of such exclusivity, the Commitment Party agrees that it shall provide initial drafts of the
loan agreement and guaranty and security agreement to you no later than the date that is fifteen days after the date this letter
is counter-executed by the Recipients.

 

		7.	Information

 

In issuing this Commitment Letter, the
Commitment Party is relying on the accuracy of the information furnished to it or to any of its Related Persons, by or on behalf
of Recipients and/or the Company or any of their respective Related Persons, without independent verification thereof. You hereby
represent that (a) all written information (other than forward looking information and projections of future financial performance
and information of a general economic or industry nature and third party consultant reports) concerning the Company and its subsidiaries
(the “Information”) that has been, or is hereafter, made available to the Commitment Party and/or any
of its Related Persons by or on behalf of any Recipient or the Company or any of their respective Related Persons is, or when delivered
shall be, when considered as a whole, complete and correct in all material respects and does not, or shall not when delivered,
contain any untrue statement of material fact or omit to state a material fact necessary in order to make the statements contained
therein not misleading in any material respect in light of the circumstances under which such statements have been made (after
giving effect to all supplements and updates thereto), and (b) all projections that have been or are hereafter made available to
the Commitment Party and/or any of its Related Persons by or on behalf of any Recipient or the Company or any of their respective
Related Persons are, or when delivered shall be, prepared in good faith on the basis of information and assumptions that are believed
by such Recipient, the Company or the applicable Related Person to be reasonable at the time such projections were prepared; it
being recognized by the Commitment Party that projections of future events are not to be viewed as facts and actual results may
vary significantly from projected results. The accuracy of the foregoing representation is not a condition to the availability
of the FILO Facility.

 

     

    
Monocle Acquisition Corporation
 Monocle Holdings Inc.
 January 26, 2020

    

 

You agree that, if at any time prior to
the Closing Date, you become aware that any of the representations and warranties in the preceding paragraph would be incorrect
in any material respect, when taken as a whole, if the Information and the Projections were being furnished, and such representations
were being made, at such time, then you will promptly supplement, or cause to be supplemented, the Information and the Projections
so that such representations and warranties will be correct in all material respects under those circumstances.

 

		8.	Sharing Information; Absence of Fiduciary Relationship; Affiliate Activities

 

You acknowledge that the Commitment Party
and/or one or more of its Related Persons is or may be investing in, providing debt financing, equity capital or other services
(including financial advisory services) to, and/or otherwise carrying on business activities with, other entities or persons (including,
without limitation, one or more of competitors, suppliers or customers of the Recipients, the Company or AerSale Corp., and/or
any of its or their respective Related Persons) in respect of which you and/or your affiliates may have conflicting interests,
and/or that may have interests different than or adverse to your and/or your affiliates interests (and/or the interests of the
Company or AerSale Corp.) regarding the Transactions or otherwise, and you agree that nothing contained herein shall limit or preclude
the Commitment Party or any of its Related Persons from any of the foregoing.

 

You also acknowledge that neither the Commitment
Party, nor any of its Related Persons, has any obligation to use in connection with the Transactions, or to furnish to you, confidential
information obtained by any of them from other persons, entities or companies.

 

Each Recipient further acknowledges and
agrees that (a) neither the Commitment Party nor any of its Related Persons has assumed or will assume an advisory, agency, or
fiduciary responsibility in favor of any Recipient, the Company or AerSale Corp. (or any of their respective Related Persons) with
respect to any of the Transactions or the process leading thereto (irrespective of whether the Commitment Party or any of its Related
Persons has advised or is currently advising any such person on other matters), (b) no fiduciary, advisory or agency relationship
between such Recipient and/or any of its Related Persons, on the one hand, and the Commitment Party or any of its Related Persons,
on the other hand, is intended to be or has been created in respect of any of the Transactions, irrespective of whether the Commitment
Party or any of its Related Persons has advised or is advising you on other matters, (c) the Commitment Party and its Related Persons,
on the one hand, and each Recipient and its Related Persons, on the other hand, have an arms-length business relationship that
does not directly or indirectly give rise to, nor does any Recipient rely on, any fiduciary duty on the part of the Commitment
Party or any of its Related Persons, (d) each Recipient is capable of evaluating and understanding, and each Recipient understands
and accepts, the terms, risks and conditions of the Transactions, (e) Recipients have been advised that the Commitment Party and/or
one or more of its Related Persons is engaged in a broad range of transactions that may involve interests that differ from Recipients’
and their Related Persons’ interests, and that neither the Commitment Party nor any of its Related Persons has any obligation
to disclose such interests and transactions to any Recipient or any of its Related Persons by virtue of any fiduciary, advisory
or agency relationship, and (f) each Recipient waives, to the fullest extent permitted by law, any claims it or its Related Persons
may have against the Commitment Party or any of its Related Persons for breach of fiduciary duty (or alleged breach of fiduciary
duty), and agrees that neither the Commitment Party nor any of its Related Persons shall have any liability (whether direct or
indirect) to any Recipient or any of its Related Persons in respect of such a fiduciary duty claim or to any person asserting a
fiduciary duty claim on behalf of or in right of any Recipient or any of its Related Persons. For the avoidance of doubt, the provisions
of this paragraph apply only to the relationships and duties (or absence thereof, as applicable) in connection with the Transactions.

 

     

    
Monocle Acquisition Corporation
 Monocle Holdings Inc.
 January 26, 2020

    

 

Without limitation of the foregoing, each
Recipient further acknowledges that the Commitment Party and/or one or more of its Related Persons are full service securities
firms or other types of financial institutions with multiple business lines and strategies, and engaged in various types of activities,
including advisory activities and private equity investment and other financial services. In the ordinary course of business, the
Commitment Party and/or one or more of its related Persons may provide services to, and/or acquire, hold or sell, or otherwise
effect transactions, for its own account and/or for the account of one or more of its Related Persons or clients or investors,
involving equity, debt and other securities and financial instruments (including bank loans and other obligations) of, you, AerSale
Corp. and/or the Company and other companies with which you or the Company and/or AerSale Corp. may have commercial or other relationships.
With respect to any debt or other securities and/or financial instruments so held by the Commitment Party, or one or more of its
Related Persons or any of their respective customers, all rights in respect of such securities and financial instruments, including
any voting rights, will be exercised by the holder of the rights, in its sole discretion.

 

		9.	Trust Waiver

 

The Commitment Party understands that Monocle
is a ‘blank check company’ formed for the purpose of consummating a business combination as described in Monocle’s
final prospectus, dated February 6, 2019 (the “Prospectus”). The Commitment Party further understands
that Monocle has established a trust account maintained by Continental Stock Transfer & Trust Company acting as trustee in
an amount of approximately $174.2 million (collectively, with the interest accrued from time to time thereon, the “Trust
Account”) for the sole benefit of its public stockholders, and that Monocle does not have access to the funds in
such Trust Account except under the circumstances set forth in the Prospectus. For and in consideration of Monocle agreeing to
the matters set forth in this Commitment Letter, the Commitment Party agrees that, if the Transactions are not consummated, the
Commitment Party will have no right, title, interest or claim of any kind in or to (i) any monies in the Trust Account, (ii) assets
of Monocle to the extent such right, title, interest or claim would impair the amounts in the Trust Account or (iii) assets distributed
from the Trust Account to the public stockholders (each such right, title, interest or claim, a “Claim”),
now or in the future, regardless of whether such claim arises as a result of, in connection with or relating in any way to, this
Commitment Letter or any other matter, and regardless of whether such claim arises based on contract, tort, equity or any other
theory of legal liability.

 

     

    
Monocle Acquisition Corporation
 Monocle Holdings Inc.
 January 26, 2020

    

 

		10.	Governing Law, Etc.

 

This Commitment Letter, and the rights
of the parties hereto with respect to all matters arising hereunder or related hereto, and any and all claims, controversies or
disputes arising hereunder or related hereto shall be governed by, and construed in accordance with, the law of the State of New
York; provided, that notwithstanding the preceding clause of this sentence and the governing law provisions of this Commitment
Letter, it is understood and agreed that (x) the interpretation of the definition of “Material Adverse Effect” set
forth in the Acquisition Agreement (and whether or not a Material Adverse Effect has occurred), (y) the determination of the accuracy
of any Acquisition Agreement Representation and whether as a result of any inaccuracy thereof you or your applicable affiliate
has the right to terminate your or their obligations under the Acquisition Agreement or to decline to consummate the Acquisition
and (z) the determination of whether the Acquisition has been consummated in accordance with the terms of the Acquisition Agreement
and, in any case, claims or disputes arising out of any such interpretation or determination or any aspect thereof, in each case,
shall be governed by, and construed and interpreted in accordance with, the laws of the State of Delaware as applied to the Acquisition
Agreement, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof. Each of
the parties hereto agrees that all claims, controversies, or disputes arising hereunder or hereto shall be tried and litigated
only in the state courts, and to the extent permitted by applicable law, federal courts located in New York, New York and each
of the parties hereto submits to the exclusive jurisdiction and venue of such courts relative to any such claim, controversy or
dispute.

 

		11.	Waiver of Jury Trial

 

To the maximum extent permitted by applicable
law, each party hereto irrevocably waives any and all rights to a trial by jury in respect of to any claim, controversy, or dispute
(whether based in contract, tort, or otherwise) arising out of or relating to this letter or the Transactions contemplated hereby
or the actions of the Commitment Party or any of its affiliates in the negotiation, performance, or enforcement of this Commitment
Letter or the Transactions contemplated hereby or the actions of the Commitment Party or any of its affiliates in the negotiation,
performance, or enforcement of this Commitment Letter. The parties also agree to the judicial reference provisions set forth on
Annex C and agree that such provisions are incorporated herein by this reference.

 

     

    
Monocle Acquisition Corporation
 Monocle Holdings Inc.
 January 26, 2020

    

 

		12.	Patriot Act

 

The Commitment Party hereby notifies you
and the Company that pursuant to the requirements of the USA PATRIOT Act, Title III of Pub. L. 107-56 (signed into law October
26, 2001) (the “PATRIOT Act”), each Commitment Party may be required to obtain, verify and record information
that identifies the Loan Parties (as defined in the Term Sheet), which information includes the name, address, tax identification
number and other information regarding the Loan Parties that will allow such Commitment Party to identify the Loan Parties in accordance
with the PATRIOT Act. This notice is given in accordance with the requirements of the PATRIOT Act. You agree to cause the Company
to provide each Commitment Party, prior to the Closing Date, with all documentation and other information required by bank regulatory
authorities under “know your customer” and anti-money laundering rules and regulations, including, without limitation,
the PATRIOT Act.

 

		13.	Entire Agreement; Counterparts; Electronic Execution; Assignment

 

This Commitment Letter (together with the
Term Sheet) sets forth the entire agreement between the parties with respect to the matters addressed herein, supersedes all prior
communications, written or oral, with respect to the subject matter hereof, and may not be amended or modified except in writing
signed by the parties hereto. This Commitment Letter may be executed in any number of counterparts, each of which, when so executed,
shall be deemed to be an original and all of which, taken together, shall constitute one and the same letter. Delivery of an executed
counterpart of a signature page to this letter by telefacsimile or other electronic transmission shall be as effective as delivery
of a manually executed counterpart of this letter.

 

This Commitment Letter (a) shall not be
assignable by any party hereto without the prior written consent (which consent shall not be unreasonably withheld, conditioned
or delayed) of each other party hereto (any purported assignment without such consent shall be null and void); provided,
however, that no consent shall be required hereunder in connection with any assignment of Commitments by the Commitment
Party to (x) one or more of the Commitment Party’s affiliates and/or controlled funds or accounts, and/or (y) one or more
funds or accounts which are, in each case, managed or advised solely by the Commitment Party or an affiliate of the Commitment
Party; provided, that such assignment shall not relieve or release the Commitment Party from its obligation to fund the
FILO Facility on the Closing Date] and (b) is intended to be solely for the benefit of the parties hereto, the Lenders, the Agent
and the Indemnified Persons, and is not intended to confer any benefits upon, or create any rights in favor of, any person other
than the parties hereto and the Indemnified Persons.

 

     

    
Monocle Acquisition Corporation
 Monocle Holdings Inc.
 January 26, 2020

    

 

		14.	Survival

 

In the event that this Commitment Letter
is terminated or expires, the “Costs and Expenses”, “Indemnification”, “Confidentiality”, “Exclusivity”,
 “Sharing Information; Absence of Fiduciary Relationship; Affiliate Transactions”, “Governing Law, Etc.”,
and “Waiver of Jury Trial” provisions hereof, and the “Judicial Reference” provisions set forth on Annex
C, shall, in each case, survive such termination or expiration and shall remain in full force and effect regardless of whether
the Closing Date occurs or the Loan Documents shall be executed and delivered; provided, that, if the Closing Date occurs
and the Loan Documents shall be executed and delivered, the obligations of the Recipients under the provisions hereof under the
headings “Costs and Expenses”, “Confidentiality”, “Indemnification”, and “Sharing Information;
Absence of Fiduciary Relationship; Affiliate Transactions” shall be superseded and deemed replaced by the terms of the Loan
Documents governing such matters.

 

		15.	Acceptance and Termination 

 

Please indicate your acceptance of the
terms of this Commitment Letter by returning a signed copy hereof to the Commitment Party by no later than 5:00 p.m. (New York
time) on January 27, 2020.

 

Unless extended in writing by the Commitment
Party (acting at your written extension request), the Commitments shall automatically expire and terminate upon the earliest to
occur of the following (the “Commitment Expiration Time”): (a) 5:00 p.m. (New York time) on January 27,
2020 unless, prior thereto, the Commitment Party has received a copy of this Commitment Letter, duly signed by each Recipient or
(b) if accepted by you in accordance with the foregoing, on the first to occur of (i) the Closing Date, (ii) 5:00 p.m. (New York
time) on May 31, 2020 (the “Stated Expiration Date”), or such later date as may be extended pursuant
to the proviso below, in each case, in the event that the conditions to the initial funding of the FILO Facility are not satisfied
at or prior to such time, (ii) the closing of the Acquisition without the use of the FILO Facility and (iii) the termination of
the Acquisition Agreement in accordance with its terms prior to the consummation of the Acquisition; provided, however,
that (i) the expiration or termination of the Commitments pursuant to this sentence shall not prejudice the Commitment Party’s
rights and remedies in respect of any breach of this Commitment Letter and (ii) the Stated Expiration Date may be extended to a
date that is no later than August 31, 2020 by written irrevocable notice to the Commitment Party if (and such notice shall certify
as to) (x) the Commitment Expiration Time under and as defined in ABL Facility Commitment Letter, is extended to the same date
with no other modifications to such commitment letter and (y) the Company pays to the Commitment Party, if extended to (A) a date
that is between July 1, 2020 to July 31, 2020, 4.25% per annum of the Maximum Stated Commitment for each day elapsed after July
1, 2020 and (B) a date that is after July 31, 2020, 8.5% per annum of the Maximum Stated Commitment for each day elapsed after
July 31, 2020.

 

[Remainder of page intentionally
left blank.]

 

     

    

    

 

 

	 	Very truly yours,
	 	 
	 	VERITAS CAPITAL CREDIT FUNDING, L.P., by

 Veritas Capital Fund Management, L.L.C., its investment

 advisor 
	 	 
	 	 
	 	By:	
/s/ Mark Basile
	 	 	Name:	Mark Basile
	 	 	Title:	Authorized Signatory

 

 

Signature Page to
Commitment Letter

 

    	 		 

    

    

 

 

	 	ACCEPTED AND AGREED TO
	 	This  day of January 27, 2020
	 	 
	 	MONOCLE ACQUISITION CORPORATION
	 	 
	 	 
	 	By:	
/s/ Eric Zahler
	 	 	Name:	Eric Zahler
	 	 	Title:	President and Chief Executive Officer

 

 

	 	MONOCLE HOLDINGS INC.
	 	 
	 	 
	 	By:	
/s/ Eric Zahler
	 	 	Name:	Eric Zahler
	 	 	Title:	President

 

    	 	2	 

    

    

 

 

ANNEX
A

 

Sources and Uses

 

 

	Sources	 	 	Uses	 
	Monocle Cash in Trust (1)	$	176.2	 	Cash Consideration to Existing AerSale Stockholders	$	250
	ABL Facility (New)	 	20.8	 	New Equity to Existing AerSale Stockholders	 	150
	FILO Facility (New)	 	50	 	Convertible Preferred Equity Issued to LGP(2)	 	-
	Equity Issued to Existing AerSale Stockholders	 	150	 	Estimated Transaction Fees & Expenses	 	25
	Convertible Preferred Equity Issued to LGP(2)	 	-	 	Cash to AerSale Balance Sheet at Closing	 	5
	Cash on Balance Sheet	 	33	 	Total uses	$	430
	Total Sources	$	430	 	 	 	 

 

	(1)	Assuming zero redemptions of Monocle Common Stock
	 	 
	(2)	Convertible Preferred Stock with conversion price of $12.50. Does not assume conversion of Convertible Preferred Stock Issued to AerSale Stockholders.

 

 

     

    

    

 

ANNEX
B

 

Indemnification Provisions

 

Capitalized terms used herein shall have
the meanings ascribed to them in the commitment letter, dated January 26, 2020 (the “Commitment Letter”)
addressed to Monocle Acquisition Corporation and Monocle Holdings Inc. (each an “Indemnifying Party”
and collectively, the “Indemnifying Parties”) from Veritas Capital Credit Funding, L.P..

 

To the fullest extent permitted by applicable
law, each Indemnifying Party, jointly and severally, agrees that it will indemnify, defend, and hold harmless each of the Indemnified
Persons from and against (i) any and all losses, claims, damages, obligations, penalties, judgments, awards, liabilities, costs,
expenses and disbursements, (ii) any and all actions, suits, proceedings and investigations in respect thereof, and (iii) any and
all reasonable and documented legal or other costs, expenses or disbursements in giving testimony or furnishing documents in response
to a subpoena or otherwise (including, without limitation, the reasonable and documented costs, expenses and disbursements, as
and when incurred, of investigating, preparing or defending any such action, proceeding or investigation (whether or not in connection
with litigation in which any of the Indemnified Persons is a party) and including, without limitation, any and all losses, claims,
damages, obligations, penalties, judgments, awards, liabilities, costs, expenses and disbursements, resulting from any act or omission
of any of the Indemnified Persons), directly or indirectly, caused by, relating to, based upon, arising out of or in connection
with (a) the Transactions and/or (b) the Commitment Letter, the FILO Facility and/or any of the Loan Documents and/or (c) any other
documents, matters and/or transactions relating to, or consummated in connection with, anything in foregoing clauses (a) or (b);
provided, however, such indemnity agreement shall not apply to any portion of any such loss, claim, damage, obligation,
penalty, judgment, award, liability, cost, expense or disbursement of an Indemnified Person to the extent (A) it is found in a
final judgment by a court of competent jurisdiction (not subject to further appeal) to have resulted primarily and directly from
the gross negligence or willful misconduct of such Indemnified Person, or a material breach of this Commitment Letter by such Indemnified
Person or (B) arising from a dispute solely among the Indemnified Persons, other than any dispute or action relating to an Indemnified
Person in its capacity as an agent, arranger or similar role under this Commitment Letter or the FILO Facility.

 

These Indemnification Provisions shall
be in addition to any liability which any Indemnifying Party may have to the Indemnified Persons.

 

If any action, suit, proceeding or investigation
is commenced, as to which any of the Indemnified Persons proposes to demand indemnification, it shall notify the Indemnifying Parties
with reasonable promptness; provided, however, that any failure by any of the Indemnified Persons to so notify the
Indemnifying Parties shall not relieve the Indemnifying Parties from their obligations hereunder. The Commitment Party, on behalf
of the Indemnified Persons, shall have the right to retain counsel of its choice to represent the Indemnified Persons, and the
Indemnifying Parties shall pay the fees, expenses, and disbursement of such counsel, and such counsel shall, to the extent consistent
with its professional responsibilities, cooperate with the Indemnifying Parties and any counsel designated by the Indemnifying
Parties. The Indemnifying Parties shall, jointly and severally, be liable for any settlement of any claim against any of the Indemnified
Persons made with any Indemnifying Party’s written consent, which consent shall not be unreasonably withheld. Without the
prior written consent of the Commitment Party, no Indemnifying Party shall settle or compromise any claim, permit a default or
consent to the entry of any judgment in respect thereof.

 

 

     

    

    

 

In order to provide for just and equitable
contribution, if a claim for indemnification pursuant to these Indemnification Provisions is made but is found by a judgment of
a court of competent jurisdiction (not subject to further appeal) that such indemnification may not be enforced in such case, even
though the express provisions hereof provide for indemnification in such case, then the Indemnifying Parties, on the one hand,
and the Indemnified Persons, on the other hand, shall contribute to the losses, claims, damages, obligations, penalties, judgments,
awards, liabilities, costs, expenses and disbursements to which the Indemnified Persons may be subject in accordance with the relative
benefits received by the Indemnifying Parties, on the one hand, and the Indemnified Persons, on the other hand, and also the relative
fault of the Indemnifying Parties, on the one hand, and the Indemnified Persons collectively and in the aggregate, on the other
hand, in connection with the statements, acts or omissions which resulted in such losses, claims, damages, obligations, penalties,
judgments, awards, liabilities, costs, expenses and disbursements and the relevant equitable considerations shall also be considered.
No person found liable for a fraudulent misrepresentation shall be entitled to contribution from any other person who is not also
found liable for such fraudulent misrepresentation. Notwithstanding the foregoing, none of the Indemnified Persons shall be obligated
to contribute any amount hereunder that exceeds the amount of fees previously received by such Indemnified Person pursuant to the
Commitment Letter.

 

Neither expiration nor termination of the
Commitment Letter or the Commitment Parties’ Commitments and other obligations under the Commitment Letter, or the execution
and delivery of the Loan Documents, the occurrence of the Closing Date or the funding or repayment of the loans under the FILO
Facility, shall affect these Indemnification Provisions, which shall remain operative and continue in full force and effect; provided,
however, upon the execution, delivery and effectiveness of the Loan Documents, the indemnification provisions of such
Loan Documents shall supersede these Indemnification Provisions, which shall be deemed terminated at such time.

 

     

    

    

 

 

ANNEX
C

 

(a)              
IN THE EVENT ANY LEGAL PROCEEDING IS FILED IN A COURT OF THE STATE OF CALIFORNIA (THE “COURT”) BY OR
AGAINST ANY PARTY HERETO IN CONNECTION WITH ANY CLAIM AND THE JURY TRIAL WAIVER SET FORTH IN THE COMMITMENT LETTER IS NOT ENFORCEABLE
IN SUCH PROCEEDING, THE PARTIES HERETO AGREE AS FOLLOWS:

 

(i)                
WITH THE EXCEPTION OF THE MATTERS SPECIFIED IN SUBCLAUSE (ii) BELOW, ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION
DIRECTLY OR INDIRECTLY BASED UPON OR ARISING OUT OF THIS COMMITMENT LETTER, ANY LOAN DOCUMENT, THE FILO FACILITY OR ANY OF THE
TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY
CLAIMS (EACH A “CLAIM”) SHALL BE DETERMINED BY A GENERAL REFERENCE PROCEEDING IN ACCORDANCE WITH THE PROVISIONS
OF CALIFORNIA CODE OF CIVIL PROCEDURE SECTIONS 638 THROUGH 645.1. THE PARTIES INTEND THIS GENERAL REFERENCE AGREEMENT TO BE SPECIFICALLY
ENFORCEABLE. VENUE FOR THE REFERENCE PROCEEDING SHALL BE IN THE COUNTY OF LOS ANGELES, CALIFORNIA.

 

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

 

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

 

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

 

     

    

    

 

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

 

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

 

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

 

     

    

    

 

EXHIBIT I

 

Summary
of FILO Credit Facility Terms and Conditions

 

Capitalized terms used but not defined
in this Exhibit I shall have the meanings set forth in another part of the letter to which this Exhibit I is attached.

 

	Borrower:	Newco, AerSale, Inc. and AerSale’s subsidiaries party to the Existing Credit Agreement as borrowers (the “Company” or the “Borrower”).
	 	 
	Guarantors:	Newco’s subsidiaries that are not part of the Borrower and AerSale Corp. (“Parent”) and all of Parent’s present and future subsidiaries (other than Excluded Subsidiaries, as defined in the Existing Credit Agreement (subject to the Documentation Considerations); provided, however, that, for the avoidance of doubt, no non-U.S. subsidiary or “controlled foreign corporation” shall be an Excluded Subsidiary for purposes of the FILO Facility, and such subsidiary shall be required to become Guarantors thereof, unless a guaranty by such subsidiary would result in material adverse tax consequences (as determined by the Commitment Party in consultation with the Company).  Such Guarantors, together with Borrower, each a “Loan Party” and collectively, the “Loan Parties”.
	 	 
	Lenders: 	On the Closing Date, the Commitment Party and/or one or more of its affiliates and/or managed funds or accounts (the “Lenders”).
	 	 
	Agent:	An institution selected by the Commitment Party and reasonably acceptable to the Company will act as the sole administrative and collateral agent for the Lenders (in such capacities, the “Agent”).  
	 	 
	FILO Facility:	
        A senior secured term loan credit facility
        (the “FILO Facility”, and the loans made thereunder, the “Advances”) available
        in a single draw on the Closing Date in an aggregate principal amount equal to at least $50,000,000 but not exceeding the lesser
        of (i) $75,000,000 (the “Maximum Stated Commitment”) and (ii) the Borrowing Base (as hereinafter defined)
        as of the Closing Date (such lesser amount, the “Maximum FILO Amount”).

         

        If the Borrower elects to draw less than
        the Maximum FILO Amount available on the Closing Date, the Lenders commitments with respect to the undrawn portion thereof shall
        automatically terminate concurrently with the funding of the requested Advances on the Closing Date.

         

        Once repaid or prepaid, no portion of the
        Advances may be reborrowed.

 

     

    

    

 

EXHIBIT I

 

	 	 
	Accordion:	The Borrower may, subject to terms and conditions to be agreed in the FILO Credit Agreement (as defined below), request that the Lenders increase their commitments in respect of the FILO Facility or that additional Lenders provide commitments in respect of the FILO Facility, by up to an aggregate amount to be agreed by the Commitment Party and set forth in the FILO Credit Agreement; provided, that, no Lender shall have any obligation to increase its commitments in respect of the FILO Facility.  
	 	 
	Borrowing Base:	“Borrowing Base” shall mean:
	 	 
	 	(a)15.00% of the amount of Eligible Accounts (as defined in the Existing Credit Agreement, subject to the Documentation Considerations), less the amount, if any, of the Dilution Reserve (as defined in the Existing Credit Agreement, subject to the Documentation Considerations), plus
	 	 
	 	(b)the product of 55.00% multiplied by the NOLV of Eligible Whole Aircraft (to be defined in the FILO Credit Agreement in a manner satisfactory to the Commitment Party and the Company) as such NOLV is identified in the most recent Acceptable Appraisal of Whole Aircraft at such time, plus
	 	 
	 	(c)the product of 15.00% multiplied by the NOLV of Eligible Whole Engine Collateral (as defined in the Existing Credit Agreement, subject to the Documentation Considerations) (other than Eligible Off-Lease Whole Engine Collateral (as defined in the Existing Credit Agreement, subject to the Documentation Considerations)) as such NOLV is identified in the most recent Acceptable Appraisal of Whole Engines (as defined in the Existing Credit Agreement, subject to the Documentation Considerations) at such time, plus
	 	 
	 	(d)the product of 90.00% multiplied by the NOLV of Eligible Whole Engine Collateral and Eligible Whole Aircraft that are otherwise ineligible and/or excluded from the borrowing base under the ABL Facility solely on the basis of the jurisdiction of their location to the extent such jurisdiction is not a Disqualified Jurisdiction (to be defined in a mutually agreed manner), plus

 

     

    

    

 

EXHIBIT I

 

	 	(e)the product of 15.00% multiplied by the NOLV of Eligible Off-Lease Whole Engine Collateral (as defined in the Existing Credit Agreement, subject to the Documentation Considerations) as such NOLV is identified in the most recent Acceptable Appraisal of Whole Engines at such time, plus
	 	 
	 	(f)the product of 75.00% multiplied by the NOLV of Eligible Whole Engines (to be defined in the FILO Credit Agreement in a manner satisfactory to the Commitment Party and the Company) as such NOLV is identified in the most recent Acceptable Appraisal of Whole Engines at such time, plus
	 	 
	 	(g)       the
lesser of (i) the product of the percentage set forth in column A below multiplied by the NOLV of Eligible
Parts (as defined in the Existing Credit Agreement, subject to the Documentation Considerations) at such time as such NOLV is identified
in the most recent Acceptable Appraisal (as defined in the Existing Credit Agreement, subject to the Documentation Considerations)
of Parts (as defined in the Existing Credit Agreement, subject to the Documentation Considerations) at such time and (ii) the product
of the percentage set forth in column B below multiplied by the gross book costs of Eligible Parts at such time:

 

	Maximum FILO Amount	
        A 

        (% of NOLV of Eligible Parts)
	
        B 

        (% of gross book costs of Eligible Parts)

	$50,000,000	10.50%	31.00%
	$55,000,000	13.00%	38.50%
	$60,000,000	15.50%	46.00%
	$65,000,000	18.00%	53.50%
	$70,000,000	20.50%	61.00%
	$75,000,000	23.00%	70.00%

  

	 	
        It is understood and agreed that the reserves
        applicable to the FILO Facility shall be consistent with the reserves applicable under the Existing Credit Agreement (as in effect
        on the date hereof), subject to the Documentation Considerations and items specific to the FILO Facility.

         

        The FILO Facility shall contain requirements
        relating to delivery of Borrowing Base certificates and other Borrowing Base reporting consistent with the corresponding requirements
        applicable to the ABL Facility, subject to the Documentation Considerations.

 

     

    

    

EXHIBIT I

 

	Optional Prepayment:	At the Borrower’s option, the Advances may be prepaid in whole or in part at any time and from time to time after the Closing Date (each, an “Optional Prepayment”) upon at least 5 business days prior written notice; provided, however, that all Optional Prepayments shall be accompanied by payment of (a) all interest, fees and expenses accrued and unpaid through the date of such Optional Prepayment and (b) the applicable Prepayment Premium set forth below.  In addition, Optional Prepayments shall be subject to minimum amounts as shall be reasonably satisfactory to the Commitment Party and specified in the FILO Credit Agreement.
	 	 
	Mandatory Prepayments:	None.  
	 	 
	Prepayment Premium: 	
        If any Advances are prepaid or
repaid (as applicable) for any reason prior to the Maturity Date (including as a result of (i) any Optional Prepayment and (ii)
any repayment upon an Event of Default and acceleration of the FILO Facility for any reason (including following any bankruptcy
or other insolvency Event of Default)), the Borrower shall pay (in addition to paying amounts constituting accrued and unpaid
interest, fees and expenses) a prepayment premium (the “Prepayment Premium”) in an amount equal to: 

        

 

		(i)	from the Closing Date through (but excluding) the first anniversary thereof, 3.00% of the Advances
being prepaid or repaid, as applicable;

 

		(ii)	from the first anniversary of the Closing Date through (but excluding) the second anniversary thereof,
1.00% of the Advances being prepaid or repaid, as applicable; and

 

		(iii)	from the second anniversary of the Closing Date and thereafter, 0.00% of the Advances being prepaid or repaid, as applicable.

 

	Use of Proceeds:	To (i) finance a portion of the consideration payable in connection with the consummation of the Acquisition, (ii) refinance and/or rearrange certain of the Company’s existing indebtedness, (iii) fund fees and expenses associated with the FILO Facility and the Transactions, and (iv) finance the ongoing general corporate needs of Borrower.

 

     

    

    

EXHIBIT I

 

	Fees and Interest Rates:	As set forth on Appendix A.
	 	 
	Term:	Unless accelerated earlier, the FILO Facility shall terminate and all outstanding FILO Obligations shall be repaid on (the “Maturity Date”) (a) the fourth (4th) anniversary of the Closing Date or (b) if the scheduled maturity date of the ABL Facility is extended to after the fourth (4th) anniversary of the Closing Date, the earlier of (i) the scheduled maturity date of the ABL Facility and (ii) the fifth (5th) anniversary of the Closing Date.
	 	 
	Collateral:	All indebtedness and other obligations in respect of the FILO Facility (collectively, the “FILO Obligations”) shall be secured by a perfected security interest in and lien on the following (subject to such customary immaterial exclusions as may be agreed to by the Commitment Party and set forth in the Loan Documents) (collectively, the “Collateral”): (a) substantially all of the Loan Parties’ now owned and hereafter acquired property and assets (including, without limitation, constituting collateral for purposes of, or otherwise pledged (or required to be pledged) to secure, the ABL Facility), (b) all of the stock (or other ownership interests in) of each Loan Party (other than Parent) (subject to such exclusions with respect to stock of (or other ownership interests in) CFCs as may be agreed to by the Commitment Party to the extent that the pledge thereof would result in material adverse tax consequences (as determined by the Commitment Party in consultation with the Company) and (c) all proceeds and products of the foregoing.
	 	 
	Intercreditor Arrangements:	
        The relative priority of liens
on the Collateral securing the FILO Facility and the ABL Facility, the waterfall governing application of proceeds of Collateral
following exercise of remedies, pushdown reserves and amendment limitations and enforcement rights of the secured parties under
the FILO Facility and the ABL Facility vis-à-vis each other shall be governed by a customary ABL/term crossing liens intercreditor
agreement in form and substance satisfactory to the Commitment Party and the lead arrangers under the ABL Facility (the “Intercreditor
Arrangements”).

         

        For the avoidance of doubt, the Intercreditor
        Arrangements shall provide, without limitation, that (a) the liens on the Specified Collateral (as defined in the Existing Guaranty
        and Security Agreement)) and other assets on which the ABL Facility Agent intentionally releases its lien or chooses to not have
        a lien as reflected in an update to the schedule of Specified Collateral, a UCC-3 filing made or authorized by the ABL Facility
        agent or other written record signed by the ABL Facility agent that have not, in each case, been included in the borrowing base
        under the ABL Facility (such property, the “FILO Priority Collateral”) securing the FILO Obligations
        shall rank prior and senior to all liens thereon (if any) securing the ABL Facility and (b) the liens on all Collateral other than
        the FILO Priority Collateral securing the FILO Obligations shall rank junior to all liens thereon securing the ABL Facility. In
        addition, Intercreditor Arrangements shall not require payment subordination of any FILO Obligations.

 

 

     

    

    

EXHIBIT I

  

	 	 
	Collection:	The Loan Parties will direct all of their customers to remit all collections to deposit accounts that are subject to control agreements among the Loan Parties, Agent, the collateral agent under the ABL Facility and a depository bank that is satisfactory to Agent.  During a Cash Dominion Period (as defined in the Amended and Restated Guaranty and Security Agreement, dated as of July 20, 2018 by the Loan Parties signatory thereto in favor of Agent (the “Existing Guaranty and Security Agreement”), the Agent shall, subject to the Intercreditor Arrangements, have full dominion over all collections and cash will be swept against the Advances on a daily basis at all times.
	 	 
	Documentation Considerations:	
         

        The credit agreement, collateral documents
        and other definitive documentation governing or otherwise relating to the FILO Facility shall (a) be in form and substance reasonably
        satisfactory to the Commitment Party and the Company, (b) be consistent with, and reflect the terms and conditions of, the Commitment
        Letter and this Term Sheet (except to the extent otherwise agreed to by the Commitment Party and the Borrower) and (c) subject
        to the foregoing, be based on the form of the definitive documentation governing, and reflecting the terms of, the Existing Credit
        Facility, if applicable, subject to mutually agreeable modifications as necessary or desirable to account for the type, structure
        and other aspects of the FILO Facility, the transactions contemplated herein, changes in applicable law and Lenders’ internal
        policies, as well as such changes as may be required by the Commitment Party to ensure that the FILO Facility shall have the benefit
        of all favorable terms applicable to the ABL Facility; provided, that, in the event that the Loan Parties agree to any terms
        or conditions under ABL Facility (other than relating to pricing) that are more favorable to the lenders thereunder than the corresponding
        terms under the Existing Credit Facility or set forth in this Term Sheet (or in the event that this Term Sheet does not address
        any such terms), the FILO Facility shall be entitled to the benefit of such more favorable terms and conditions (the foregoing
        standards, the “Documentation Considerations”, and the credit agreement and the other definitive FILO
        Facility documentation, in each case, drafted in accordance with the Documentation Considerations and complying with the requirements
        set forth above, the “FILO Credit Agreement” and, together with such other definitive FILO Facility documentation
        and definitive documented Intercreditor Arrangements, collectively, the “Loan Documents”).

 

     

    

    

EXHIBIT I

 

	Representations and Warranties:	Subject to the Documentation Considerations, the FILO Credit Agreement will include such representations and warranties as are included in the Existing Credit Agreement, subject to updated schedules as necessary to make the representations and warranties accurate on the Closing Date.
	 	 
	Affirmative Covenants:	Subject to the Documentation Considerations, the FILO Credit Agreement will include such affirmative covenants as are included in the Existing Credit Agreement.  Without limitation of the foregoing, the Loan Parties shall be required to provide board information rights in a manner and form to be agreed in the FILO Credit Agreement (reasonably acceptable to the Commitment Party).
	 	 
	Field Exams; Appraisals:	Subject to the Documentation Considerations, the FILO Credit Agreement will include requirements with respect to field exams, appraisals and other matters relating to the Collateral and/or assets including in the Borrowing Base as are consistent with those set forth on Appendix A hereto and such other as may be required under the ABL Facility.

 

     

    

    

 

EXHIBIT I

 

	Negative Covenants:	
        Subject to the Documentation Considerations,
        the FILO Credit Agreement will include such negative covenants as are included in the Existing Credit Agreement.

         

        Notwithstanding the foregoing
and for the avoidance of doubt: 

        

  

		(a)	no Restricted Payments (as defined in the Existing Credit
Agreement, subject to the Documentation Considerations but to include cash payments on account of unsecured debt) shall be permitted
to be made except any Restricted Payments, so long as both before and after such Restricted Payments, (i) no Default or Event
of Default shall have occurred and be continuing or would result therefrom and (ii) the Senior Leverage Ratio as of the end of
the fiscal quarter immediately preceding the date of such proposed Restricted Payment (calculated on a pro forma basis
as if such proposed Restricted Payment was made on the first day of such fiscal quarter) is not more than 2.84 to 1.00;

 

		(b)	no unsecured debt shall be permitted to be maintained
or incurred other than an aggregate principal amount not to exceed $50 million;

 

		(c)	the capacity for lien and debt incurrence related to
secured debt for borrowed money shall be limited to the ABL Facility in an aggregate principal amount not to exceed $150 million;
and

 

		(d)	up to $10 million of secured indebtedness may be incurred
by the Company in respect of Whole Engine Collateral and Whole Aircraft located in any Disqualified Jurisdiction, and such assets
shall have been released from the Borrowing Base.

  

	 	For the avoidance of doubt, proceeds of permitted asset sales
shall be reinvested in the Loan Parties’ business (unless otherwise applied towards Optional Prepayments).
	 	 
	Financial Covenants:	At the end of the first fiscal quarter after the Closing Date and at the end of each quarter thereafter, Parent and Borrower, on a consolidated basis, shall be required to maintain, on a quarterly basis, (a) a minimum Fixed Charge Coverage Ratio (as defined in the Existing Credit Agreement, subject to the Documentation Considerations) of not less than 1.25 to 1.00 and (b) a maximum Senior Leverage Ratio (to be defined in the FILO Credit Agreement, subject to the Documentation Considerations but to generally be secured debt to EBITDA) of not more than 4.50 to 1.00 (the foregoing, collectively, the “Financial Covenants”).

 

     

    

    

 

EXHIBIT I

 

	Events of Default; Enforcement:	
        Subject to the Documentation Considerations,
        the FILO Credit Agreement will include such events of default (collectively, the “Events of Default”)
        as are included in the Existing Credit Agreement and, for the avoidance of doubt, (a) an Event of Default resulting from the amount
        of FILO Obligations outstanding at any time exceeding the Borrowing Base in effect at such time (the amount of such total excess,
        a “Borrowing Base Deficiency”); provided, that, if a specific pushdown reserve in an amount equal
        to such Borrowing Base Deficiency is implemented on the availability under the ABL Facility, the Borrower shall be given a cure
        period of sixty days to cure such Event of Default by (x) causing additional assets (including the cash proceeds of any borrowing
        base assets so long as in a controlled account) with an aggregate fair market value of at least the applicable Borrowing Base Deficiency
        to be included, and given credit for, in the Borrowing Base and/or (y) repaying outstanding FILO Obligations by an amount not less
        than the applicable Borrowing Base Deficiency and (b) a cross-default to the ABL Facility.

         

        In addition, the FILO Credit Agreement
        will include provisions governing enforcement of rights and exercise of remedies upon an Event of Default consistent with the corresponding
        provisions in the Existing Credit Agreement, subject to the Documentation Considerations.

	 	 
	Conditions Precedent to Closing:	Limited to those in the Commitment Letter under the heading “Conditions” and those conditions precedent set forth on Appendix B hereto.
	 	 
	Assignments:	
        After the Closing Date, each Lender shall
        be permitted to assign its rights and obligations under the Loan Documents, or any part thereof subject to the restrictions set
        forth in the Existing Credit Agreement (subject to the Documentation Considerations); provided, that, for the avoidance
        of doubt, no consent of the Borrower or any other Loan Party shall be required in connection with any assignment (a) in connection
        with fund-level financing of the Commitment Party or any Lender or (b) during the continuance of an Event of Default.

         

        Subject to customary voting limitations,
        each Lender shall be permitted to sell participations in such rights and obligations, or any part thereof to any person or entity
        without the consent of Borrower.

 

     

    

    

 

EXHIBIT I

  

	 	 
	Governing Law and Forum:	State of New York.
	 	 
	Required Lenders:	Lenders holding at least a majority of the aggregate of the outstanding Advances.
	 	 
	Amendments: 	
        Subject to the Documentation Considerations,
        the FILO Credit Agreement will include such amendment provisions as are included in the Existing Credit Agreement.

         

        In addition, in the event that, at any
        time after the Closing Date, the ABL Facility is amended as permitted by the Intercreditor Arrangements, the Required Lenders may
        elect to amend the FILO Facility to conform to, and have the benefit of, such covenants and other provisions (other than relating
        to pricing) applicable to the ABL Facility (as so amended) as are determined by the Required Lenders to be favorable, and the Loan
        Parties shall be required to consent to such amendments and enter into and deliver all documentation reasonably required by the
        Agent or the Required Lenders to effectuate the foregoing.

	 	 
	Counsel to the Commitment Party and Lenders:	Stroock & Stroock & Lavan LLP

 

 

     

    

    

 

EXHIBIT I

  

Appendix A

 

Interest Rates and Fees

 

	Interest Rate Options:	Borrower may elect that the loans bear interest at a rate per annum equal to:
	 	 
	 	(i)the Base Rate plus the Applicable Margin; or
	 	 
	 	(ii)the LIBOR Rate plus the Applicable Margin.
	 	 
	 	As used herein:
	 	 
	 	
        The “Base Rate”
        means the greatest of (a) the prime lending rate as announced from time to time by an institution selected by the Commitment Party,
        (b) the Federal Funds Rate plus 1/2%, and (c) the one month LIBOR Rate (which rate shall be determined on
        a daily basis), plus 1.00%.

         

	 	The “LIBOR Rate” means the rate per annum as published by ICE Benchmark Administration Limited (or any successor page or other commercially available source as Agent may designate from time to time) 2 business days prior to the commencement of the requested interest period, for a term, and in an amount, comparable to the interest period and the amount of the LIBOR Rate Loan requested (whether as an initial LIBOR Rate Loan or as a continuation of a LIBOR Rate Loan or as a conversion of a Base Rate Loan to a LIBOR Rate Loan) by Borrower in accordance with the definitive credit agreement (and, if any such rate is below 1.00%, the LIBOR Rate shall be deemed to be 1.00%), which determination shall be made by Agent and shall be conclusive in the absence of manifest error.  The LIBOR Rate shall be available for interest periods of 1, 2, 3 or 6 months.
	 	 
	 	“Applicable Margin” means a per annum rate equal to (a) with respect to Base Rate Loans, 9.50% and (b) with respect to LIBOR Rate Loans, 8.50% per annum; provided, that, the Applicable Margin shall be reduced by 10 basis points for each $5,000,000 reduction of the Maximum FILO Amount below $75,000,000.

 

 

    Appendix A-1

    

    

 

EXHIBIT I

 

	Interest Payment Dates:	In the case of Advances bearing interest based upon the Base Rate (“Base Rate Loans”), monthly in arrears.
	 	 
	 	In the case of Advances bearing interest based upon the LIBOR Rate (“LIBOR Rate Loans”), on the last day of each relevant interest period; provided that the interest for any interest period in excess of 3 months shall be paid in 3 month intervals after the commencement of the applicable interest period and on the last day of such interest period.
	 	 
	OID:	An original issuance discount in an amount equal to, if the Closing Date is (x) on or prior to May 31, 2020, an amount equal to (A) 2.00% of the initial Term Loans funded plus 1.00% of that portion of the Maximum Stated Commitment that is not funded on the Closing Date and (y) after May 31, 2020, 2.00% of the aggregate principal amount of the Maximum Stated Commitment (which may take the form of a fee and is to be documented in a letter agreement entered into by the Lenders and the Borrower on the Closing Date in form and substance satisfactory to the Commitment Party and the Company).
	 	 
	Default Rate:	(a) Automatically at any time when an insolvency or bankruptcy related Event of Default has occurred and is continuing or (b) upon the direction of the Agent or Required Lenders, and upon written notice by Agent to Borrower at any time when any other Event of Default has occurred and is continuing, all amounts owing under the FILO Facility shall bear interest at 2.00% per annum above the interest rate otherwise applicable thereto, which interest shall be payable in cash on demand.
	 	 
	Rate and Fee Basis:	All per annum rates shall be calculated on the basis of a year of 360 days and the actual number of days elapsed.
	 	 
	Expense Reimbursement & Indemnification: 	The Loan Documents shall contain expense reimbursement and indemnification provisions in favor of the Lenders, the Agent and their Related Persons at least as favorable as the corresponding provisions in the ABL Facility and as otherwise determined in accordance with the Documentation Considerations.  
	 	 
	Field Exam and Valuation Examination Fees:	Borrower will be required to pay (a) a fee of $1,000 per day, per field examiner, plus reasonable out-of-pocket expenses for each financial field exam of the Loan Parties performed by personnel, employed by (or on behalf of) the Agent, and (b) the actual charges paid or incurred by (or on behalf of) Agent if it elects to employ the services of one or more third persons to appraise the Collateral, or any portion thereof, or to assess Borrower’s or its subsidiaries’ business valuation; provided, however, that so long as no Event of Default shall have occurred and be continuing, and except for field exams and appraisals conducted in connection with a proposed Permitted Acquisition (as defined in the Existing Credit Agreement, subject to the Documentation Considerations), whether or not consummated, Borrower shall not be obligated to reimburse for more than (a) 1 field exam during any calendar year (increasing to 2 field exams in such calendar year if an Increased Appraisal Event (as defined in the Existing Credit Agreement, subject to the Documentation Considerations) has occurred during such calendar year) or (b) 1 physical appraisal (increasing to 2 physical appraisals in such calendar year if an Increased Appraisal Event has occurred during such calendar year) and 2 desktop appraisals.  Consistent with the Existing Credit Agreement (subject to the Documentation Considerations), regardless of the limitations on reimbursements by the Borrower for appraisals, Agent and the Lenders shall be permitted to obtain appraisals at their own respective cost without limitation as to the number of appraisals conducted in any one year.

 

 

    Appendix A-2

    

    

 

EXHIBIT I

Appendix B

 

The availability of
the FILO Facility is subject to the satisfaction of the conditions set forth in the Commitment Letter under the heading “Conditions”
and each of the following conditions precedent (unless waived by the Commitment Party in writing in its sole discretion):

 

(a)              
Subject to the Certain Funds Provisions, delivery to the Commitment Parties of the following documents, in each case, dated
as of the Closing Date (to the extent applicable): (i) a customary notice of borrowing (to be delivered at least 2 days prior to
the requested Closing Date), it being agreed that such notice may be conditioned on the consummation of the Acquisition, (ii) a
Borrowing Base certificate (in form satisfactory to the Commitment Party) demonstrating the Borrowing Base in effect on the Closing
Date (to be delivered at least 3 business days prior to the requested Closing Date) and (iii) all other documentation consistent
with corresponding documentation delivered in connection with the ABL Facility, subject to the Documentation Considerations, including,
without limitation, (A) legal opinions, (B) officers’ certificates, and (C) all documents, agreements and instruments necessary
to perfect the Agent’s first priority security interest in the Collateral (subject only to Permitted Liens), (including,
without limitation, the documents referred to in, or otherwise required to comply with the requirements of, clause (b) below;

 

(b)            
Without limiting the foregoing, (i) as of the Closing Date, the Loan Parties shall be in compliance (and shall deliver to
the Commitment Party all documents and instruments reasonably evidencing compliance), in all material respects, with the Perfection
Requirements (as defined in the Existing Guaranty and Security Agreement, subject to the Documentation Considerations) or, if applicable,
the Limited Perfection Requirements (as defined in the Existing Guaranty and Security Agreement, subject to the Documentation Considerations)
with respect to all Collateral contemplated to be in the Borrowing Base and (ii) the Commitment Party shall have received (A) the
Guaranty and Security Agreement, Mortgages and Collateral Assignments of Lease pertaining to Whole Aircraft or Whole Engine, as
applicable (in each case, as such capitalized term is defined in the Existing Credit Agreement; provided, that each such
agreement shall otherwise be in form and substance consistent with the requirements of the Documentation Considerations), (B) all
documents with respect to FAA Registry Aircraft and FAA Registry Engines that are required to be filed with the FAA Registry, each
of which shall be in form and substance satisfactory to the Commitment Party and shall be filed with the FAA Registry on the Closing
Date), and (C) all documents and instruments that are required in connection with registrations required to be made with the Cape
Town Registry, each of which shall be in form and substance consistent with the Existing Guaranty and Security Agreement and the
Documentation Considerations and shall be filed with the Cape Town Registry on the Closing Date;

 

(c)              
With respect to each Loan Party, receipt by the Commitment Party of (i) customary evidence of corporate authority with respect
to officers executing the Loan Documents for the Borrowers and Guarantors, (ii) copies of governing documents of the Loan Parties,
certified as of a recent date (not more than 30 days prior to the Closing Date) by the appropriate governmental official, (iii)
copies of material agreements certified as being true and correct and in effect on the Closing Date by an authorized officer of
the Borrower, and (iv) certificates of good standing (or corresponding status in the applicable jurisdiction) issued as of a recent
date (not more than 30 days prior to the Closing Date) by the jurisdictions of organization of each Loan Party (all items set forth
in foregoing sub-clauses (i) through (iv), in form and substance reasonably satisfactory to the Commitment Party);

 

    

    

    

EXHIBIT I

 

(d)              
With respect to the Loan Parties, members of senior management, key principals, any Lender or the Agent, to the extent requested
at least fifteen business days prior to the Closing Date, receipt by the Commitment Party, the Lenders and the Agent, as applicable,
at least ten business days prior to the Closing Date, of all documentation and information necessary for the completion of (i)
Patriot Act searches, OFAC/PEP searches and customary individual background checks for the Loan Parties and (ii) OFAC/PEP searches
and customary individual background checks for members of senior management, key principals, the results of which are satisfactory
to the Commitment Party, the applicable Lender and the Agent, as applicable;

 

(e)              
On the Closing Date, the Loan Parties shall, on a pro forma basis after giving effect to the Acquisition and the other Transactions
(including the incurrence of indebtedness pursuant to the FILO Facility and the ABL Facility on the Closing Date), be in compliance
with the Financial Covenants (as defined in the Term Sheet);

 

(f)              
The Commitment Party shall have received copies of the credit agreement, collateral and security agreements and other loan
documents governing or relating to the asset-based revolving credit facility provided pursuant to that certain $150 million Senior
Secured Credit Facility Commitment Letter, dated as of December 8, 2019, by and among the Recipients and Wells Fargo Bank, N.A.
and PNC Bank, National Association, as the commitment parties thereunder (as in effect on the date hereof, the “ABL Facility
Commitment Letter” and the credit facility contemplated thereunder, the “ABL Facility”), each of which
shall be in form and substance consistent with the ABL Facility Commitment Letter and in full force and effect, and no default
or event of default, as applicable, shall be continuing thereunder;

 

(g)              
The Commitment Party shall have received true and complete copies of all appraisals, balance sheets, income statements and
other financials and informational deliverables furnished under the ABL Facility or otherwise pursuant to the ABL Facility Commitment
Letter;

 

(h)              
The following transactions shall have occurred, prior to or concurrently with the initial extension of credit under the
FILO Facility:

 

     (i)             
The Acquisition Agreement and all other definitive agreements relating to the Acquisition (including, all schedules, exhibits,
annexes and other attachments thereto) and all other all documentation associated with the Acquisition (collectively, the “Acquisition
Documentation”) shall be substantially in the form of such documentation delivered to the Commitment Party prior to the
execution and delivery of the Commitment Letter or subject to subsequent amendments or modifications thereto that are not materially
adverse to the interests of the Lenders, unless consented to in writing by the Commitment Party;

 

     (ii)             
The Acquisition shall have been consummated pursuant to, and in accordance with, the Acquisition Documentation and in accordance
with all applicable requirements of law. After giving effect to the Acquisition, Newco shall, directly or indirectly, own 100%
of the equity interests in Aersale Corp., Monocle and each Loan Party; and

 

    

    

    

EXHIBIT I

 

     (iii)            
All third party indebtedness for borrowed money of the Loan Parties and their subsidiaries (including AerSale Corp. and
the Recipients) (other than, in each case, certain notes issued by the Company, in existence on the date hereof, in an aggregate
principal amount not to exceed $3,400,000 (“Permitted Surviving Debt”)) shall have been repaid, redeemed, defeased,
discharged, refinanced or terminated, as applicable, and all commitments thereunder or in connection therewith shall have been
permanently cancelled and terminated, and all security interests, lien and guaranties thereof or provided in connection therewith
shall have been irrevocably terminated or released such that, on the Closing Date, after giving effect to the making of the credit
extensions under the ABL Facility on the Closing Date, none of the Loan Parties or any of their subsidiaries (including AerSale
Corp. and the Recipients) shall have any third party indebtedness for borrowed money other than (i) the ABL Facility, (ii) the
FILO Facility and (iii) Permitted Surviving Debt; and

 

     (iv)            
The applicable borrowers under the ABL Facility shall have received commitments thereunder in an aggregate principal amount
not less than $150,000,000 and proceeds of loans in an aggregate principal amount not less than $20.8 million.

 

(i)                
All applicable waiting periods (and any extensions thereof) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976,
as amended, shall have expired or been terminated;

 

(j)                
[Reserved;]

 

(k)              
The Acquisition Agreement Representations and the Specified Representations shall be true and correct in all material respects
(except that such materiality qualifier shall not be applicable to any representations and warranties that are already qualified
or modified by materiality in the text thereof) on the Closing Date and on a pro forma basis, after giving effect to the Acquisition
and the other Transactions consummated on or around the Closing Date; and

 

(l)               
All costs, fees and expenses contemplated hereby and in any agency fee letter entered into with the Agent due and payable
on the Closing Date to Agent, Commitment Parties and/or Lenders in respect of the Transactions shall have been paid, as to costs
and expenses to the extent invoiced at least one business day prior to the Closing Date.

 

    

    

    

 

ANNEX D

 

Solvency Certificate

 

Solvency Certificate
to be in the form delivered pursuant to the ABL Facility Commitment Letter.

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